Spanish fast fashion giant Inditex (Zara, Pull & Bear, Bershka, Stradivarius) has announced a multi-year agreement with the Massachusetts Institute of Technology (MIT) to conduct joint research on sustainability and recycling of textile materials, as well as new lines of research related to data analysis. […]

Istanbul - Denim manufacturer ISKO, part of Turkish holding SANKO Group, has opened a new distribution center near Istanbul, looking to accelerate delivery to its clients across 30 countries. The space, which is 40 meters high, 80 meters long and 45 meters wide, can store up to 128,000 rolls of fabric, […]

Barclaycard has signed a new agreement that will enable UK retailers to accept Alipay payments in-store, to help retailer’s capitalise and increase sales from Chinese tourists. The move builds on a successful pilot over the past two years, stated Barclaycard, which processes nearly half of the UK’s […]

Bonmarché Holdings plc has said in a statement that the company expected to achieve underlying PBT for the year within the lower end of the breakeven to loss of 4 million pounds. However, it added that trading since the beginning of March has been significantly weaker, reversing sales gains made in […]

For the three months ended 28 February 2019, Asos Plc said, total sales grew at 13 percent on a reported basis and 11 percent on a constant currency basis to 658.5 million pounds (873.3 million dollars). The company added that retail gross margin expanded by 40bps. Total orders placed increased 15 percent […]

The board of directors of New Look Poland Sp. z o.o. (NLP) has decided to file for insolvency. The company said in a statement that following a review of its financial and trading position, New Look Poland, which currently operates 19 stores in Poland, has concluded that it is unable to continue trading, […]

INTERVIEWAllbirds’ rise is every startup’s dream. In just over three years, the San Francisco-based footwear company sold over a million pairs of sneakers, raised more than 77 million US dollars and is reportedly valued at 1.4 billion, according to a recent report by the Wall Street Journal. Its shoes […]

ANALYSIS New York - Prada reported full-year sales of 3.142 billion euros on Friday, up 6 percent at constant exchange rates and compared with 9.4 percent growth in the first six months. At current exchange rates, sales growth came in at 3 percent, explained the company in a financial release. Negative […]

ANALYSIS New York – The British fashion retailer is expected to report a decline in its annual profits later this week when it publishes its financial performance for 2018. Corporate struggles and a weaker pound are to blame, according to the market. As Cantor Fitzgerald’s analyst Mark Photiades put […]

The UK Fashion and Textile Association (UKFT) has stated that the ‘no deal’ Brexit tariffs announced by the UK government is “a mixed bag for fashion” and will impact exporters, as well as imports from Turkey, which is a major supplier to the UK fashion industry. The temporary tariff plan in the event […]

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