Carven isn't in the money. The Paris-based brand and its parent company Société Bérange have filed a voluntary petition with the Commercial Court in Paris placing it in receivership. The motion mirrors the equivalent to chapter 11 bankruptcy here in the United States. In 2016 Carven sold a majority […]

London - US fashion company Ralph Lauren Corporation reported better than expected profit for its fourth quarter, putting the company in the black for this year. The New York-based company saw its shares increase 13.5 percent to 132.39 US dollars in early trading, after reporting net income of 41.3 […]

London - PrettyLittleThing, the fast-fashion brand owned by, is set to open a new head office in Los Angeles. The move marks the brand’s debut office outside of London and Manchester, as the brand aims to expand its reach. PrettyLittleThing is set to open its office, complete with an influencer […]

Due to strong demand, the Austrian Lenzing Group is planning to “significantly expand” the production capacities for its new Tencel Luxe filament yarn, which was launched just in October 2017. The cellulose fibre producer will invest up to 30 million euros in a further pilot line at the Lenzing site […]

American clothing Urban Outfitters said on Tuesday its Q1 net profit for 2018 increased. Revenues increased by 12.5 percent from the same period last year. The company’s net profit for Q1 2018 was 41.3 million US dollars, up from 11.9 million US dollars a year earlier. Revenues rose to 856 million US […]

London - Marks and Spencer Group Plc saw its profit before tax and adjusting items fall 5.4 percent to 580.9 million pounds for the 52 weeks to March 31, 2018 down from 613.8 million pounds in 2017 as its transformation plan is well underway. The department store group attributed this decline to the […]

London - Leading UK retailer Tesco plc is set to shut down Tesco Direct, its non-food website, following a detailed review. Tesco Direct is set to cease trading on July 9, putting 500 employees at risk of being made redundant. The impending closure comes as Tesco concludes that despite its best efforts […]

After dominating the UK clothing market for decades, Marks & Spencer is set to lose its number one position to Primark this year, according to GlobalData. Marks & Spencer announced it has earmarked 14 stores for potential closure this Thursday, which sits in line with its broader turnaround plan. In […]

The TJX Companies, Inc. announced that net sales for the first quarter of fiscal 2019 increased 12 percent to 8.7 billion dollars, while consolidated comparable store sales increased 3 percent over the comparable period last year ending May 6, 2017. Net income for the quarter was 716 million dollars […]

London - Better Buying, an initiative that supports the industry-wide transformation of buyer purchasing practices, has launched its first benchmark report designed to support efforts to improve purchasing practices throughout the global supply chain. Known as the Better Buying Practices Index (BBPPI), […]