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Afterpay to spotlight emerging designers at NYFW

Afterpay, the leading player in the "Buy Now Pay Later" (BNPL) payments sector, has announced its latest venture as the title sponsor of New York Fashion Week: The Shows. NYFW: The Shows is a new space “built exclusively to showcase emerging designers who represent the future of fashion”. As the title sponsor of NYFW, Afterpay is offering its...

3 Feb 2023

Business

StockX debuts Authentication Center in Mexico

StockX, an online marketplace for buying and selling authentic sneakers, streetwear, and apparel, has announced the opening of its first authentication center in Mexico. StockX said the center will provide customers in Latin America with an enhanced and localized shopping experience, as it will allow more efficient verification of the...

3 Feb 2023

BusinessFeatured

Canada Goose lowers FY outlook as Mainland China dents Q3 earnings

Canada Goose has lowered its full-year guidance again after restrictions in Mainland China resulted in a small year-on-year drop in its most important quarter. The outerwear brand made revenue of 576.7 million Canadian dollars in the third quarter ended January 1, down 1.6 percent from the same quarter a year earlier. The company cited “worse...

3 Feb 2023

Business

Superdry CEO denies plan to take company private

Julian Dunkerton, founder and chief executive officer of Superdry, has refuted claims that he is planning to take the company private. In a statement published by the London Stock Exchange, Dunkerton said that “while there has been speculation that he is considering taking Superdry private”, there were “no plans to do this at the moment”. The...

3 Feb 2023

BusinessFeatured

Deckers Brands ups FY guidance on strong Q3

Deckers Brands has upped its full-year sales and profit outlook after reporting both top- and bottom-line growth in the third quarter of the year. The US company reported a 13.3 percent increase in Q3 sales to 1.188 billion dollars. On a constant currency basis, sales were up 17.5 percent. Breaking it down by channel, wholesale sales increased 8...

3 Feb 2023

Business

ABG strikes deal with advocacy organisation Global Citizen

Authentic Brands Group (ABG) has joined a multi-year alliance with international advocacy organisation Global Citizen which will see the duo work towards a series of society-led initiatives. The four-year partnership will cover the creation of an exclusive brand mark for consumer products, marketing activations and donation programmes, among...

3 Feb 2023

Business

Bollman Hat Company secures majority interest in Kangol

Bollman Hat Company has announced that it has come to an agreement with Frasers Group to acquire 51 percent equity share and full intellectual property rights of hat maker Kangol. The move builds on Bollman’s existing relationship with the company, with it having already held the global rights to develop and produce its headwear since 2001....

3 Feb 2023

Business

Kohl’s selects new CEO, signs cooperation agreement with activist shareholder

American chain retailer Kohl’s Corporation has named Tom Kingsbury as its new chief executive officer, effective immediately. Kingsbury has served in an interim capacity for the role since December 2, 2022, and, with the new appointment, will continue to serve on the company’s board. Speaking on the news, board chair Peter Boneparth said in a...

3 Feb 2023

BusinessFeatured

Columbia Sportswear: Record Q4 sales, but profits fall amid supply chain issues

Columbia Sportswear made record sales of 1.17 billion dollars in the final quarter of the year, but its earnings were impacted by supply chain disruptions. Sales in the fourth quarter were up 4 percent from a year earlier, or up 8 percent on a constant-currency basis, driven by Columbia brand growth, which was partially offset by a drop in sales...

3 Feb 2023

Business

Kering names new CEO of Kering Beauté

Luxury conglomerate Kering has announced the appointment of Raffaella Cornaggia as CEO of Kering Beauté. In the role, Cornaggia has been tasked with developing an expertise in the beauty category for Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin. Reporting to the group managing director of Kering, Jean-François Palus, she...

3 Feb 2023

BusinessFeatured

Skechers reports record Q4 sales, but profits narrow

US footwear brand Skechers has reported a drop in profitability in the fourth quarter despite record sales of 1.88 billion dollars. Sales in the three months to December 31 increased 13.5 percent compared to the same period a year earlier, or 19.1 percent on a constant-currency basis, driven by a 22.3 percent increase in its home market of the...

3 Feb 2023

Business

In Big Tech earnings week, Facebook gets a boost

Investors in Meta saw their stock boosted by 25 percent, as the social media giant posted higher than expected earnings in the fourth quarter of 2022. The parent company to Facebook, Instagram and Whatsapp, said it focused on productivity, streamlining and efficiency, adding nearly 80 billion dollars to its market value. But the operational...

2 Feb 2023