Latest Articles in Business

Roberto Cavalli signs licensing agreement for home collection

Italian fashion house Roberto Cavalli has signed a new multi-year, exclusive licensing agreement with New York-based home textile solutions company Designer’s Linen Inc. Through the new partnership, Designer’s Linen Inc. will be in charge of developing, manufacturing, and distributing home textiles, beach, bath, and tabletop collections for the...

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LVMH: Annual revenue declines by two percent

French luxury conglomerate Moët Hennessy Louis Vuitton (LVMH) felt the impact of challenging market conditions in fiscal year 2024. On Tuesday evening, the group announced declines in revenue and profit, as expected. Group revenue for the past year amounted to €84.7 billion. This represents a two percent decrease compared to the record year...

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BFC secures new funding from UK government to support emerging designers

The British Fashion Council (BFC) has secured an additional one million pounds in funding from the UK government to back its BFC NewGen programme and support emerging designers. The news was confirmed by the council to WWD, which reported that the government’s department for Culture, Media and Sport, an existing backer of the NewGen initiative,...

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Lacoste eyes US market push in effort to reach four billion euros in sales

French sportswear brand Lacoste is said to be making an “aggressive” push within the US market as its chief executive, Thierry Guibert, eyes an increase in annual sales to four billion euros. In an interview with the Financial Times, Guibert said that he has set a target to double sales for Lacoste’s US business from 400 million euros. To...

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Gap and Sean Wotherspoon to launch GapVintage programme

US retailer Gap has announced a new programme alongside its global vintage curator, Sean Wotherspoon, intended to place the company’s product archive “directly in the hands of customers around the world”. Beginning February 4, 2025, in the US, GapVintage will see the release of a series of yearlong vintage drops curated by Wotherspoon, while...

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Aid by Trade Foundation introduces new transparency standard for cotton

The Aid by Trade Foundation (AbTF), known for cotton standards like Cotton made in Africa (CmiA) and Cotton made in Africa Organic, announced today the introduction of its new transparency standard in the first quarter of 2025. Only in November last year, the foundation joined the transparency initiative Make the Label Count to ensure that...

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In The Style backer said to be mulling purchase of The Original Factory Shop

Baaj Capital, the investor behind fast fashion retailer In The Style (ITS), is believed to be mulling a takeover of the The Original Factory Shop (TOFS), a high street budget retailer that has been under the wing of private equity firm Duke Street since 2007. According to Sky News, TOFS is “close to being sold” to Baaj Capital, which the...

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Golden Goose receives minority investment from Blue Pool Capital

Golden Goose, a luxury sneakers, apparel and accessories brand has received a 12 percent strategic minority investment from Blue Pool, a Hong Kong-based investment firm and family office. The company, founded in 2000, said in a statement that funds advised by Permira, the global investment firm, will retain a majority investment in Golden Goose....

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Stella McCartney takes back full control of her brand from LVMH

British fashion designer Stella McCartney has taken back full control of her eponymous fashion house. In a press release sent this Monday, January 27, 2025, Stella McCartney announced the repurchase of the minority stake held by luxury fashion house LVMH, “after more than five years of fruitful collaboration.” According to the statement sent out...

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Mytheresa: Holding to operate as LuxExperience following YNAP acquisition

The holding company of munich-based fashion retailer Mytheresa will operate under a new name following the takeover of Yoox Net-a-Porter (YNAP). MYT Netherlands Parent BV is currently preparing to rename the company as LuxExperience BV, the firm announced on Monday. Subject to shareholder approval in March, the company will be called...

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Target rolls back DEI initiatives as Trump’s term begins

US retail giant Target has announced that it will be concluding its three-year diversity, equity and inclusion (DEI) goals, alongside other associated initiatives, in a move that seemingly aligns with the values of the new Trump administration. In a press release, Target said that in addition to the conclusion of its DEI goals, it would also be...

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PrettyLittleThing reportedly cuts jobs at Manchester HQ

Boohoo-owned PrettyLittleThing (PLT) is believed to be in the process of carrying out a string of redundancies, with over 50 employees reportedly impacted. According to Drapers, the process is in regards to staff members at the company’s Manchester head office, who the media outlet said had already been informed of the layoffs during a video...