Latest Articles in Business

Damson Madder expands into eyewear for fifth anniversary

London-based Damson Madder has expanded into the eyewear category for the first time to celebrate its fifth anniversary. The launch comes as part of a month-long series of marketing activations for the British womenswear brand, and alongside the launch of its spring/summer 2025 collection. As such, the label’s first eyewear collection intends to...

BusinessMember

Crystal group Swarovski marginally increases sales in 2024

Austrian company Swarovski Crystal Business recorded sales growth of six percent to 1.9 billion euros in the year to December 31, 2024. The growth driver was the jewellery segment, which grew by 9 percent, three times as fast as the general market, the company stated in a press release. All regions contributed to the growth, however Europe lead...

Business|Interview FeaturedMember

Clothing rental as a business model: 6 Lessons from 10 years of Lena the Fashion Library

Many clothing rental companies have come and gone in recent years, but Netherlands-based Lena the Fashion Library has remained steadfast. Co-founder Elisa Jansen admitted that it wasn't always easy, having only found the perfect pay-as-you-borrow business model after five years. “You have to be patient and really dare to test it if you are going...

BusinessMember

Alanui co-founders repurchase stake in brand from Farfetch’s New Guards Group

Carlotta and Nicolò Oddi, the co-founders of Alanui, have regained their majority stake in the Italian knitwear brand that had been held by New Guards Group (NGG), a Milanese production and distribution company owned by Farfetch. Upon the transaction’s completion, Alanui will independently manage its business, from operations to distribution....

BusinessMember

Shaftesbury Capital sells stake of Covent Garden to Norwegian sovereign

Landlord Shaftesbury Capital has agreed to sell a 25 percent non-controlling interest in London shopping estate Covent Garden to Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund. The transaction is valued at 2.7 billion pounds, aligning with an independent valuation dated December 31, 2024, with gross cash proceeds...

BusinessMember

Asos anticipates profitability improvement for H1, Heartland owner ups stake

British e-tailer Asos has issued an update on its forecasts for the first half of fiscal year 25 ahead of the release of its financial results for the period due April 24, 2025. The company is expecting its profitability to significantly improve despite what it said was a “continued volume deleverage”. Its adjusted sales growth is projected to...

Business|In Depth FeaturedMember

From domestic success to global expansion: Key insights on China’s fashion market

Chinese brands have gained in popularity at home and abroad over the past years but sluggish domestic consumer spending and uncertainty amid evolving trade tensions are weighing on the outlook of China’s apparel industry. Here are eight insights about China’s clothing sector from the spring edition fashion fair Chic. 1. Sluggish consumption...

BusinessMember

Nike struggles amid sales slump and layoffs, forecasts margin pressure

Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...

BusinessMember

Concept store Sprmrkt returns to Amsterdam

Concept store Sprmrkt, founded by entrepreneurs Nelleke Strijkers and Annika Beekmans, is reopening in the Dutch capital Amsterdam. The store is set to relaunch in July 2025, according to a press release. Sprmrkt will be an “innovative, multidisciplinary space” where “creativity and social impact converge.” The store concept will continue to...

BusinessMember

Temu's Chinese owner sees revenue growth slow

Chinese e-commerce giant PDD Holdings announced Thursday slower revenue growth for the third quarter running, as the Temu owner confronts trade tensions between Beijing and Washington. The Shanghai-based company posted revenues of 110 billion yuan ($15 billion) in the three months to December 31, up 24 percent year-on-year. The figure was down...

BusinessMember

Ann Summers strikes partnership with Liwa to expand into Middle East

Lingerie label Ann Summers has established a new franchise agreement with Liwa Trading Enterprises as it sets about expanding into the Middle East. Through the strategic partnership, Ann Summers’ lingerie products will become available in the United Arab Emirates (UAE), Kuwait, Saudi Arabia, Qatar, Bahrain and Oman, with Liwa to serve as the...

BusinessMember

UKFT launches Reuse and Recycling membership

The UK Fashion & Textile Association (UKFT) has launched a new membership category for textile collectors, sorters, graders, mechanical recyclers, upcyclers and recycling innovators. The new Reuse and Recycling membership is dedicated to supporting circularity, growth and innovation within the UK fashion and textile industry by providing...