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Management

Quiz CEO and founder resigns as sales continue to drop amid strategic review

The chief executive officer of fast fashion retailer Quiz has resigned from the helm position following a yearly drop in sales amid an ongoing strategic review. While stepping down from the leadership role, Tarak Ramzan, who also founded the British company and is its largest shareholder, will instead be resuming a non-executive director role,...

Management

Lands’ End Q4 and FY23 revenues decline

Lands’ End reported fourth quarter net revenue decreased 2.8 percent to 514.9 million dollars compared to the fourth quarter of fiscal 2022. For the fiscal year 2023, the company’s net revenue decreased 5.3 percent to 1.47 million dollars. Commenting on the results, Andrew McLean, the company’s CEO, stated: “We pursued our solutions-based...

Management

OTB acquires majority stake in Calzaturificio Stephen

Luxury fashion group OTB has acquired a majority stake in Italian footwear manufacturer Calzaturificio Stephen, a long-standing OTB supplier that has provided luxury footwear for the Group brands. The acquisition is part of the OTB’s long-term strategy to acquire high-profile know-how and production capacity in product categories of “strategic...

Management

LVMH Group managing director steps down after 23 years

Toni Belloni, the right hand man to LVMH boss Bernard Arnault, has announced his departure from his current duties at the luxury fashion giant after 23 years. Belloni most recently served as group managing director and chairman of the executive committee for the LVMH Group, and also held a position of the company’s board of directors, which he...

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