Latest Articles in Business

Puig IPO raises €2.6 Billion Euros

Europe’s biggest IPO of 2024 saw Spanish conglomerate Puig exceed its share price of 24.50 euros to 25.50 euros on Friday, resulting in a market capitalisation of 13.9 billion euros after it sold 106.5 million shares. The funds raised, some 2.6 billion euros, will allow the fragrance and fashion group to make further acquisitions and reduce its...

Business

Ryan Reynolds becomes lead investor for NFL licensor Homage

Sports and licensed apparel company Homage has announced a strategic investment of growth capital from Maximum Effort Investments LLC, an investment advisory firm co-founded by Ryan Reynolds that will serve as the lead investor for this round of funding. Homage said that it intends to use the investment capital to expand its production capacity,...

Business

Marc Jacobs to halt use of reptile and ostrich skins

Following in the path of other luxury counterparts, Marc Jacobs has now confirmed that it will be banning the use of reptile and ostrich skins in its collections, according to the People for the Ethical Treatment of Animals (PETA). The nonprofit organisation has been pressuring Marc Jacobs, and other brands of the same calibre, to make such a...

Business

Centric Brands and Authentic establish licensing deal for Vince accessories

Centric Brands has secured a licensing agreement for Vince accessories with the brand’s parent company Authentic Brands Group, which follows a third-party partnership model for its portfolio of brands. Through the deal, Centric Brands will oversee the design, manufacturing and distribution of Vince branded handbags, small leather goods and belts...

Business

Frasers Group reportedly set to cut jobs at Studio Retail warehouse

Fashion and retail giant Frasers Group is said to have launched a redundancy consultation with warehouse staff at Studio Retail’s Accrington location in Lancashire. A total of 164 warehouse employees are believed to be impacted by the move, which is being carried out in light of a lack of sales, according to Drapers. Those affected derive from...

Business

H&M closes Berlin innovation lab Beyond

H&M is ending the activities of H&M Beyond in the German capital. This was confirmed by the Swedish clothing group at the request of FashionUnited on Thursday. Oliver Lange, the previous manager of the project, reported the cancellation of the project at the end of last week on the career network LinkedIn. Lange left the company on 1 May and the...

Business

Denmark wants to ban PFAS in clothing and shoes

As part of a new action plan on the use of per- and polyfluoroalkyl substances (PFAS), the Danish government has proposed to introduce a national ban on PFAS in clothing, footwear and sealants, as these are one of the largest sources of PFAS in the local environment. Notably, PFAS in workwear and safety clothing should not be affected by the...

Business

Luxury brands lure Chinese shoppers despite slowdown

Sipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty -- a lavish affair designed to win customers in China's crucial market. China is the world's biggest spender in the luxury sector, accounting for half of global sales. But as its post-pandemic recovery falters,...

Business

Spanish fashion and beauty brand Puig poised for IPO

The iconic Nina Ricci, Paco Rabanne and Jean-Paul Gaultier labels make their market debut Friday as Spanish fashion and beauty group Puig begins trading on the Madrid stock exchange. For the family-owned Puig Group, which has expanded rapidly into luxury goods, going public is a big step which will allow it to compete with the giants of the...

Business

Joseph Ribkoff secures fresh funding from Novacap and other investors

Women's fashion brand Joseph Ribkoff has announced a new round of investment from long term investors Novacap and Fonds de Solidarité FTQ, and from new investor DNA Partners. The company said in a statement that under the leadership of Emmanuel Amzallag, who was appointed as CEO in early 2023, Joseph Ribkoff has embarked on significant...

BusinessFeatured

Aritzia delievers Q4 revenue growth of 7 percent

Aritzia delivered fourth quarter net revenue of 682 million Canadian dollars, an increase of 7 percent, while comparable sales declined 3 percent. Full year net revenue increased by 6.2 percent to 2.33 billion Canadian dollars, resulting in a three year CAGR of 39.6 percent. Comparable sales decreased 1 percent. “As expected, we also delivered...

BusinessFeatured

Kontoor Brands raises 2024 earnings outlook

For its first quarter Kontoor Brands revenue was 631 million dollars, a decrease of 5 percent or 6 percent in constant currency compared to the prior year. The company said in a release that revenue decline was primarily driven by retailer inventory management actions in the US, a decrease in revenue from seasonal products, and lower...