Latest Articles in Business

LVMH signs 10-year partnership with F1

French luxury conglomerate LVMH Moët Hennessy Louis Vuitton has signed a 10-year partnership agreement with Formula 1 to become the motorsport’s global partner. The move comes as F1 prepares to celebrate its 75th anniversary in 2025 and will see several of LVMH’s Maisons involved in the partnership, including Louis Vuitton, Moët Hennessy and TAG...

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Levi Strauss announces strategic review of Dockers to drive growth

For the third quarter, Levi Strauss net revenues of 1.5 billion dollars were flat on a reported basis, and 2 percent higher on a constant-currency basis. Levi Strauss announced that it has initiated a formal review of strategic alternatives for the Dockers brand, which could include a potential sale or other strategic transaction. The company’s...

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How to become an expert in fashion anti-counterfeiting?

The burgeoning second-hand market has thrust a profession once shrouded in obscurity into the spotlight: the anti-counterfeit expert. It's a highly sought-after profession today, with many candidates and few chosen ones. Yet, the demand for experts in luxury goods is increasing as the second-hand fashion industry gains traction. "There's a...

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Nike shares hit after withdrawal of FY25 forecast amid weak Q1, CEO change

Shares of Nike Inc. were down around 6 percent in the extended trading on Tuesday on the NYSE and are currently down around 5 percent in pre-market activity after the sportswear giant warned on weak revenues in its second quarter, withdrew its revenue forecast for fiscal 2025, and postponed investor day. The move comes as the company reported...

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Thirty-5 Capital invests in new pickleball apparel brand Muev

Thirty-5 Capital, the private equity firm focused on sports technology and innovation companies, has announced its first strategic investment in pickleball apparel through a partnership with Muev, a new fashion performance brand looking to elevate activewear for America's fastest-growing sport. The move marks a key expansion of the pickleball...

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Uniqlo Japan September same-store sales surge

September 2024 same-store sales including online sales increased by 22.1 percent at Uniqlo Japan, while total sales including online sales increased by 24.7 percent. The company, part of the Fast Retailing Group said in a release that same-store sales expanded significantly year on year in September on the back of strong sales of summer ranges...

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JD Sports increases revenue and profit in H1

JD Sports Fashion Plc reported organic sales growth of 6.4 percent with like-for-like (LFL) sales growth of 0.7 percent in the first six months. Group revenues were up 5.2 percent to 5 billion pounds and up 6.8 percent in constant currency. The company said that the trading performance in the first half was in line with expectations and its...

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Nike posts steep revenue decline ahead of CEO transition

For the first quarter, Nike revenues of 11.6 billion dollars, were down 10 percent on a reported basis and 9 percent on a currency-neutral basis. On September 19, 2024, Nike’s board of directors appointed Elliott Hill as president and CEO of the company, effective October 14, 2024. "Nike's first quarter results largely met our expectations. A...

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Navigating the EU's new mandate: Comprehensive insights for the fashion industry

The European Union’s upcoming legislative changes, following the 2024 elections, are expected to have a major impact on the fashion industry. This topic was recently explored in depth at a Global Fashion Agenda session, where a distinguished panel, including members of the European Parliament, experts in sustainability policies, and European...

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Russia's Wildberries completes controversial merger: CEO

Russia's largest online retailer Wildberries has completed a controversial merger deal, its CEO said Tuesday, following a bitter takeover dispute that led to a deadly shootout at its Moscow office. Founder Tatyana Kim, Russia's richest woman, and her estranged husband Vladislav Bakalchuk have been embroiled in a public spat for months over...

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Mothercare suspends shares due to delay in full year results

British retailer Mothercare has announced the temporary suspension of its shares on AIM as it awaits the publication of its audited full year results for the period to 30 March 2024. The company said that it was typically required to publish its audited results by 30 September 2024, however it was in the “final stages of entering into definitive...

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FTC trial against Capri and Tapestry merger ends, judge’s decision awaits

A trial brought by the US Federal Trade Commission (FTC) against a potential merger of luxury goods giants Tapestry and Capri Holdings was brought to a close on Monday, with a federal judge's decision now being awaited. The FTC brought the antitrust case against the duo after Coach-owner Tapestry announced its intention to acquire competitor...