Ascena Retail Group Inc, the parent company of Ann Taylor, Loft, and Lane Bryant, is seeking a 150 million dollar loan from its creditors to keep the company functioning during their bankruptcy filing. Ascena is working on a restructuring plan that will also allow creditors to install new board members. […]

Yoox Net-a-Porter Group and Armani have announced a new strategic development in their 20-year relationship for what they are calling a new “distribution model for the future” by developing the ‘Next Era’ omnichannel business model. The new strategic phase, in place until 2025, will see both companies […]

Matalan has reported a 72 percent year-on-year drop in revenue for the first quarter as Covid-19 took its toll on the business. For the 13 weeks to 30 May, total revenue at the omnichannel fashion and homeware retailer was 75.3 million pounds, down from 273.5 million pounds the same period last year. […]

Swiss watch exports plunged again in June, an industry body said on Tuesday, though there were early signs of a potential uptick thanks to renewed demand from China. In April, exports plummeted by an annualised 81.3 percent, and were followed in May by an impressive decline of 67.9 percent as global […]

Kanye West, the controversial rapper and fashion entrepreneur, said in a Tweet he will walk away from his lucrative deals with Gap and Adidas if he is not appointed to the board of both brands. Shares in Gap fell by 6 percent on Monday, despite the company aiming to grow sales with West’s Yeezy brand […]

Tapestry, Inc. has announced the resignation of Jide Zeitlin, Chairman and Chief Executive Officer, effective immediately. As a result, the company said in a statement, Joanne Crevoiserat, chief financial officer, has been appointed Interim Chief Executive Officer of Tapestry, Inc. Commenting on the […]

Delivery giant Hermes is creating 10,500 new jobs in the UK and investing 100 million pounds to expand its capacity to meet huge demand as online shopping booms. The company is looking for 9,000 self-employed couriers and 1,500 full-time staff, some of which will work at the company’s head office in […]

Hedge fund Gatemore Capital Management has bought a 3.37 percent stake in British fashion retailer Superdry, saying it has confidence in CEO and founder Julian Dunkerton’s turnaround strategy. “Superdry has shown strong resilience despite a challenging trading environment in recent months, and we are […]

California-born board sports brand Volcom, owned by Authentic Brands Group, is targeting expansion in China after signing a partnership with the China Ting Group, a leading China-based lifestyle company specialising in retail development and brand building. Through this partnership, the China Ting Group […]

Ted Baker has said it is encouraged by its “resilient” trading over the past 11 weeks despite reporting a 55 percent drop in revenues. Group revenue more than halved to 60.9 million pounds year-on-year for the 11 weeks to 18 July 2020. Retail sales were halved during that period to 51 million pounds […]

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