Spanish fashion group Inditex has seen its net profit increase
0.6 percent in the nine months leading up to 31 October, lifting it to 1.67 billion euro. Next year, the
group intends to open another 500 new stores.
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H&M will start supporting 3 factories,
one in Cambodia and 2 in Bangladesh, from next year, so that textile workers may get a living wage.
The Swedish company aims to get all of its 750 factories to pay decent wages by
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Abercrombie & Fitch has decided to extend CEO Mike Jeffries’ contract with one year, despite seeing its revenue dropping for a long time and share
holders asking for the termination of Jeffries’ contract.
In the middle of January, Spanish fashion label Mango is launching the
“Violeta by Mango” line, designed for women of sizes 40 to 52.
Adidas and Nike have been fighting for every inch of every pitch in every
sport, but the fight is
becoming even more intense with the world championship football approaching. Adidas has ruled the footballing world for quite some
time, but Nike has clearly been clawing
back this past few years.
The Versace family is negotiating a
possible sale of 20 % of the Italian fashion label’s shares. IQ Made in
Italy Venture, a fund with Qatar Holding participation, seems the most likely
candidate. The deal would value the Milanese fashion label at 850 million euro.
Swedish fashion chain H&M wants to enter the highly competitive sports fashion market from next year onwards: on 2 January, the chain will launch
H&M Sport, although it will only be for sale in a low number of stores in the beginning.
Luxury concern LVMH has bought a 40 % stake in Australian sports clothing 2XU (“Two times You”). Using
their Singaporean investment fund L. Capital Asia, the French company hopes to
introduce the brand into the Asian market first, spreading across the world
Esprit CEO José Manuel Martinez Gutiérrez has announced a new brand to start in 2014. Along with that announcement, he said he expects the group to become
profitable “probably even next year”.
Despite being 91 years old, Pierre
Cardin still has a spring in his step and he is apparently still as creative as he ever was. The Frenchman has made his catwalk comeback
this past week with a huge festive collection.
The situation remains uneasy in Bangladesh, where several huge protests led to
two casualties. Plenty of people still protest against
the low wages and awful working conditions for textile workers.
Irish fashion discounter Primark is coming to Brussels: a lease has already been signed, making it highly
likely that the Brussels store will open before the previously announced
store in Ghent.
French luxury group Kering is buying a stake in German fashion brand Tomas Maier. They will create a joint
venture in order to further develop the German developer’s brand.
American clothing company Urban
Outfitters saw its third quarter
turnover increase 12 %, reaching 774 million dollars (570 million euro), while net
profit grew 20 % to 70.3 million dollars (52 million euro).
Secret had opened its very first European
store in London last year, it will now open its very first Belgian store
next month, at Zaventem Brussels Airport.
The very first & Other Stories in the Low Countries will be opening in Antwerp. The fancier sister brand of H&M aims to move to the
Netherlands, but it is still looking for a fine location to do so.