Fashion |In Pictures

In Pictures: Chanel’s Métiers d’Art show takes Manchester

Luxury fashion house Chanel chose the unexpected location of gritty Manchester to play host to its latest Métiers d’Art show, where the brand’s staple tweed and vintage-inspired skirt suits made their way down the city’s Thomas Street as night fell. The choice to display the line in the so-called ‘Warehouse City’ followed presentations in Tokyo...

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People

Lanvin Group’s Joann Cheng to step down, successors named

Luxury conglomerate Lanvin Group has announced that its founding chairman and chief executive officer, Joann Cheng, will be stepping down from her position “to pursue new endeavours outside the group”. Cheng’s departure comes after the exec served for six years at the group, for which Lanvin’s board “expressed its deep appreciation” for her...

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Business

Torrid reports Q3 loss, promotes Paula Dempsey to CFO

For its third quarter, Torrid Holdings reported a net sales decrease of 8.3 percent to 275.4 million dollars, while comparable sales decreased 8 percent in the quarter. Gross profit margin dropped to 33.2 percent, net loss reached 2.7 million dollars or 3 cents per share, and adjusted EBITDA declined to 19.4 million dollars or 7 percent of net...

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Retail

Consumers switch to cash as budget tightens, according to BRC

The British Retail Consortium (BRC) has published the results of its latest BRC Payments Survey 2023, in which it outlined transactions and spending figures for the year. Compared to 2022, UK retail sales rose 4.3 percent to 439.5 billion pounds, an increase that was largely attributed to increased costs throughout the supply chain and the...

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