For its fourth quarter, SIGNA Sports United N.V. (SSU) reported net revenue growth of 10 percent to 247 million euros and 24 percent for FY2021 to 872 million euros, despite supply constraints in full-bike category. Excluding full-bike sales, the company said, net revenue grew 19 percent and 31 percent for Q4 and full year FY2021, respectively....
16 hours ago
Boohoo Group has begun production at its first ever-manufacturing site in Leicester. The new 23,000 square foot factory on Thurmaston Lane in Leicester delivers capacity for tens of thousands of garments and will create up to 180 new jobs, Boohoo said on Wednesday. The site will also double up as a training facility for product teams across all...
19 hours ago
British cosmetics company Revolution Beauty has reported strong revenue growth in the important Christmas period, fueled by a jump in direct-to-consumer (DTC) sales. In the period from November 1 to December 31, revenue increased 41 percent year-on-year on an underlying basis despite a “volatile consumer backdrop”, with many of its markets going...
20 hours ago
Swiss watch and jewelry maker Swatch Group (SWGAF.PK, SWGNF.PK) reported that its net income attributable to shareholders for fiscal year 2021 was 765 million Swiss francs compared to a net loss of 51 million francs in the previous year. Earnings per registered share was 2.95 francs compared to a loss of 0.20 francs in the prior year. Operating...
25 Jan 2022
European B2B platform Fashion Cloud has developed a new data standard that hopes to support the delivery of e-commerce product data in line with new industry requirements. Developed in partnership with Bte and Euretco, Fashion Cloud developed the guide to aid the 17,000 plus retailers who use its platform to download product data provided by...
It takes more than a coronavirus pandemic to suppress the demand for luxury goods in China. Figures from Bain & Company show despite mounting global social and economic challenges, China’s luxury goods market finished another year with double-digit growth, with some brands exceeding a 70 percent increase. In 2021 the sales of luxury reached 471...
Asos and human rights organisation Anti-Slavery International have agreed on a new three-year partnership to 2025 to support the online retailer in delivering its ‘Fashion with Integrity’ programme. The existing partnership launched in 2017, with Asos stating that Anti-Slavery International has been a “critical friend” providing advice, guidance...
Chinese fast fashion retailer Shein is thought to be revisiting an IPO on the New York stock exchange. The company previously began a listing process in 2020, but abandoned its plans amid market uncertainty and US-China trade tensions. According to Reuters Shein founder Chris Xu is contemplating acquiring Singapore citizenship to bypass China’s...
Unilever, which owns brands including Dove, Vaseline and Sunsilk, is simplifying its organisation to a more category-focused business, which will result in a cut of 1,500 jobs worldwide. The consumer goods business said in a statement that they would be moving away from its current matrix structure to five category-focused business groups:...
Outerwear specialists Alpha Industries has announced the promotion of Matthew Pantoja to the brand’s newly established role of chief brand officer, effective immediately. Pantoja will oversee the brand’s product, marketing and experiences across all categories, regions and channels while reporting to CEO Michael Cirker. He will also be...
H&M has taken its sustainable multi-brand platform Itsapark offline. The group told FashionUnited the choice was taken to “leverage the strategic learnings from Itsapark” and integrate them into the H&M brand to “secure a larger impact and audience”. Itsapark closed its customer facing operations in November, with the “majority” of its employees...
Hublot and Bulgari have risen to the top of LVMH’s portfolio of luxury watch brands as their sales have exceeded pre-COVID-19 2019 levels. Both brands’ growth is expected to continue through 2022. The news was reported by Reuters. This rebound comes after Swiss luxury watch sales declined in 2020 as stores were shuttered during the pandemic and...
24 Jan 2022
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