According to the yearly report of the Prijzenobservatorium, an institute of the Belgian Ministry of Economy, food is 13 % more expensive in Belgium than in Holland, 9% than in France and 8% than in Germany. Including non-food, shopping trips are 11.7 % (Netherlands), + 8.6 % (Germany) and + 6.5 % (France) cheaper abroad.
Food far more expensive in Belgium than in Holland
On Friday 15 September, H&M Group’s new store formula opens its doors on the Guldenvlieslaan in Brussels. The press got a sneak preview and discovered a surprising mixture of fashion, interior design and food.
Fashion chain Nordstrom will open a new store formula in Los Angeles next month. Customers will only be able to get advice and try out clothing. Purchases can be picked up at the store at a later date.
Irish fashion chain Primark takes full advantage of the weak British economy, which prompted its parent company AB Foods to adjust its full-year forecast. The chain will also continue its expansion plans.
Government investment fund Participatiemaatschappij Vlaanderen (PMV) will invest 15 million euro in fashion group FNG in return for 5 % of its shares. The money will go towards international expansion.
American fashion company Gap will alter its internal strategy and turn its attention to Old Navy and Athleta. Gap and Banana Republic, which both received the most attention up until now, will have to step aside.
Global Fashion Group, the fashion group founded by investment group Kinnevik and Rocket Internet, managed to lower its losses even more in the second quarter. On top of that, turnover grew more than 25 %.