French luxury house Chanel announced a strategic merger with one of its suppliers, acquiring a majority stake in Italian shoemaker Ballin. Founded in 1945 in Fiesso D’Artico, Ballin employs 200 people and subcontracts its products to several luxury houses while also marketing shoes under its own label. […]

Global Fashion Group S.A. (GFG) has updated its outlook for the current financial year as a result of strong trading in Q3. The company said in a statement that it now expects to be profitable with respect to adjusted EBITDA and achieve constant currency net merchandise value (NMV) growth of around […]

H&M-owned Arket has announced plans to open its first store in South Korea next year. The new store will stock the Stockholm-based brand’s collections for men, women, children and the home, and comes after the label made its first expansion outside of Europe back in August when it opened a digital flagship […]

Zalando SE has raised its outlook for the 2020 financial year after witnessing strong and profitable growth in the third quarter. The company now expects gross merchandise volume (GMV) to grow 25-27 percent, revenues to grow 20-22 percent and an adjusted EBIT of 375-425 million euros for the financial […]

Following the appointment of Sarah Welsh as CEO of Retail on March 30, 2020, N Brown Group plc, has continued to strengthen its retail and product team through a series of senior hires. This comes after the group announced its refreshed strategy in June, which includes a focus on delivering better and […]

Marcolin Group is expanding its global presence with the opening of a new subsidiary in Sydney. The Australian branch is part of the eyewear group’s aim to strengthening the commercial synergies with the current regional office in Hong Kong, and will play a “key role for the growth in the APAC region,” […]

The Very Group, which operates online retail brands Very.co.uk and Littlewoods.com, said in a statement that Very.co.uk retail sales increased 10.5 percent to 1,229.6 million pounds driving Very.co.uk revenue up 6.8 percent to 1,589.8 million pounds and group revenue growth of 2.9 percent to 2,050.7 […]

Frasers Group has urged its shareholders to approve a 100 million pound staff bonus scheme at its annual general meeting on Wednesday. The bonus scheme would be open to the “vast majority” of the group’s workers, who would either receive cash bonuses or share awards if the company's share price hits […]

Levi Strauss & Co reported better-than-expected sales for the third-quarter on Tuesday, with online revenue soaring 52 percent during the period. Net revenue at the company fell 27 percent on a reported basis to 1.06 billion dollars, largely due to Covid-19-related store closures, while net income fell […]

Kering has divested a 5.9 percent stake in sporting giant Puma. The luxury group led by François-Henri Pinault announced it sold its shares for a value of 655.6 million euros, corresponding to a share price of 74.50. The sale leaves Kering with a reduced 9.8 percent share of the sportswear company. […]

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