French luxury goods group Kering, home to brands such as Gucci and Yves Saint Laurent, said Wednesday a positive performance in North America and Asia helped it weather the coronavirus crisis last year. Sales fell 17.5 percent to 13.1 billion euros (15.8 billion dollars) last year but the group still […]

As part of the development of its new five-year strategy, Adidas begin a formal process aimed at divesting Reebok. Going forward, the company said that it intends to focus its efforts on further strengthening the leading position of the Adidas brand in the global sporting goods market. “The long-term […]

Apex Global Brands Inc. has entered into a merger agreement with Galaxy Universal LLC, which is expected to occur in the second quarter of 2021. The company said, under the terms of the agreement, Galaxy Universal will acquire all of the outstanding shares of Apex for 2 dollars per share in cash. “After […]

The parent group of Uniqlo has unseated Inditex for the first time in history, rising to the title of the world’s largest retailer by market capitalization after closing the sessions on Monday and Tuesday, exceeding 100 billion dollars in value on the stock market. The value of Fast Retailing, the Japanese […]

The New York based discounted price department store has announced it will return to South Korea this autumn. The quintessentially New Yorker chain went bankrupt in September and liquidated its 13 stores in New York, Florida and Pennsylvania. Now, it is reported to be working on its comeback to the […]

Burberry has just repaid a 300 million pounds loan from the Bank of England’s Covid Corporate Financing Facility (CCFF.) The luxury brand was able to do that thanks to the strong online business and peaking demand amongst Chinese wealthy consumers. The luxury fashion brand is also set to repay the 7 […]

UK’s department stores chain Debenhams will shut downs its doors for good after 242 years a high street staple. Market experts analyse what has gone wrong with the British retailer. Boohoo’s acquisition of Debehams’ brand out of administration marks the end of an era, that of the department store chain […]

Running brand Asics has reported increased profitability and strong growth in e-commerce in the EMEA region in 2020, despite what it calls “challenging market conditions” due to Covid-19. According to its consolidated annual report, Asics EMEA sales fell by 7.3 percent year-to-date, due in part to the […]

Sustainable fashion is now front and center in customer’s minds and purchase behaviors, as well as business logistics and planning. It’s been a precipitous philosophical shift over the past 20 years, as the impact of the industry on the environment and the people it employs has become more visible to […]

A year ago, Italian luxury fashion house Prada teamed up with Unesco’s Intergovernmental Oceanographic Commission (IOC) for the educational programme Sea Beyond, a tailor-made pilot project for secondary schools around the world to raise awareness on ocean preservation and sustainability. The two partners […]

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