Levi Strauss & Co., for its first quarter ended February 23, 2020 reported net revenue growth of 5 percent on a reported basis, and 6 percent on a constant-currency basis excluding 11 million in unfavourable currency effects to 1,506 million dollars. The company said in a statement that net revenues […]

Online fashion retailer Asos has named Patrik Silén as Chief Strategy Officer, reporting to Chief Executive Officer, Nick Beighton. This appointment, the company said in a statement, is the third in a series of new hires designed to strengthen the senior management team. Commenting on Silén’s appointment, […]

Total sales at Asos plc grew by 21 percent to 1,597 million pounds (1,967.5 million dollars). The company said in a statement that gross profit increased 17 percent but gross margin declined 170bps versus the prior year. Profit before tax increased 653 percent to 30.1 million pounds (37 million dollars), […]

American luxury designer brand Ralph Lauren is to give furloughs, pay cuts and foundation donations to ensure the safety and wellbeing of its employees while it navigates the impacts of Covid-19. The company said in a statement that executives across the label would reduce their salaries and compensation […]

German luxury fashion brand Hugo Boss AG (HUGSF.PK) said that its Managing Board and the Supervisory Board have decided to propose to the Annual Shareholders' Meeting that the dividend payment for fiscal year 2019 will be suspended. The negative effects of the Covid-19 pandemic on macroeconomic development […]

A coronavirus controversy has seen luxury giants LVMH and Kering backtrack on putting employees on a French government assistance scheme for the pay-out of salaries. The Financial Times revealed the two luxury goods groups received a backlash after Chanel and Hermès, two smaller rival companies, announced […]

While the coronavirus outbreak has wreaked havoc in economies in the western world and lives certainly have been disrupted, few actually fear for their lives due to job losses. Undoubtedly, looking at the fashion industry, especially small- and medium-size labels, brands and retailers will have a hard […]

Finnish fashion group Stockmann is filing for corporate restructuring after experiencing a “significant” impact from the Covid-19 pandemic. The group, which owns Swedish fashion chain Lindex, said it has made “continued strong growth” on its online stores since the beginning of March, but that has not […]

Kinnevik AB’s nomination committee has proposed the election of Cecilia Qvist to Kinnevik’s board of directors at the annual general meeting in May 2020 as well as the re-election of all current board members, and the re-election of the Chairman of the board, Dame Amelia Fawcett. Commenting on the proposed […]

Safilo Group S.p.A. has announced that the extraordinary circumstances after Covid-19 outbreak are having direct and indirect repercussions on the company’s economic activity, resulting in negative effects for the group’s sales and earnings performance which are today impossible to predict for the full […]

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