In the second quarter of 2020, consolidated sales at SMCP, parent company of Sadro, Maje, Claudie Pierlot, reached 144.1 million euros (169.2 million dollars), down 47 percent on an organic basis. The company said in a statement that reported sales were down 45.8 percent, including a neutral currency […]

Former Lancôme CEO Odile Roujol has launched a 10 million dollar fund for fashion and beauty start-ups. The news was reported by WWD. Roujol, who moved to the U.S. four years ago, got the idea to launch the fund four years ago, which led to the new business, FAB Ventures. The fund focuses on direct-to-consumer […]

The Asia rebound for luxury goods demand didn’t buy LVMH, which saw a loss of 68 percent in revenue in the second quarter. It also didn’t boost Kering’s sales, which posted a loss of 43.7 percent to 2.175 billion dollars compared to the same period last year. Kering said consolidated revenue of 5.38 […]

Revenue at Steve Madden decreased 68.2 percent to 142.8 million dollars compared to 449.6 million dollars in the same period of 2019. The company said in a statement that gross margin was 39.1 percent compared to 37.8 percent in the same period last year, while loss from operations totalled 23.7 million […]

German sportswear brand Puma has swung to a loss in the second quarter of the year after its sales took a heavy hit from the impact of Covid-19. The German sportswear brand reported a quarterly net loss of 114.8 million euros compared to a profit of 49.7 million euros in the second quarter of 2019. […]

Tendam Brands, the parent company of the Tendam Group, operating in the specialised chain store segment through the brands Cortefiel, Pedro del Hierro, Springfield, Women’secret and Fifty, has said that the first quarter reporting period coincided with the peak of the Covid-19 pandemic, with practically […]

British footwear retailer Hotter Shoes will move forward with plans to permanently close 46 of its stores after its company voluntary arrangement (CVA) proposal received the green light from creditors. The company’s owner Electra Private Equity PLC launched the CVA proposal on 9 July as a move to avoid […]

Men's Wearhouse owner Tailored Brands has announced it is 'likely' it will file for bankruptcy in the third quarter as it grapples with the impact of Covid-19. The company said the impact of the pandemic has “raised substantial doubt about [its] ability to continue as a going concern within one year […]

Especially in challenging times like these, it shows that every crisis can open up new opportunities. In view of the COVID-19 pandemic and the urgent need for medical protective clothing and special protective equipment, the leading sewing thread manufacturer A&E Gütermann together with the American […]

There is no doubt that the Corona crisis has accelerated the digitalisation of work and made working conditions more flexible. Large corporations such as Bayer, Deutsche Bank, Zalando and others have already decided to considerably reduce the number of business trips, even “after Corona” (whenever that […]

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