Latest Articles in Business

Crocs posts Q1 growth, names Susan Healy as CFO

Crocs, Inc. first quarter revenues were 939 million dollars, an increase of 6.2 percent or 6.9 percent on a constant currency basis with direct-to-consumer (DTC) revenue growth of 11.8 percent or 12.3 percent on a constant currency basis and wholesale revenue increase of 3.2 percent or 4.1 percent on a constant currency basis. The company also...

BusinessFeatured

Inc & Co invest in luxury lingerie brand Studio Pia

Investment firm Inc & Co is expanding into the retail sector after acquiring ethical luxury lingerie brand Studio Pia for an undisclosed amount. In a statement, Inc & Co said the strategic investment would allow Studio Pia, known for its ethical and avant-garde lingerie designs, to perform a “brand refresh” later in the year, alongside...

BusinessFeatured

ThreadUp narrows losses in Q1, sales rise

Online resale platform ThredUp reported first quarter revenue of 79.6 million dollars, an increase of 5 percent year-over-year. Gross profit for the quarter totaled 55.3 million dollars, up 8 percent, while gross margin rose to 69.5 percent. Net loss contracted to 16.6 million dollars or a negative 20.8 percent, while adjusted EBITDA loss...

BusinessFeatured

Amazon set to invest 9 billion dollars in Singapore

Amazon said Tuesday it would invest 9 billion USD in Singapore over the next four years to expand its cloud computing capabilities in the city. The announcement comes after fellow tech titan Microsoft unveiled billions of dollars of investment in the same sectors in Southeast Asia last week as firms look to take advantage of growing demand in...

Business

Richemont acquires Italian jeweller Vhernier

Richemont has acquired 100 percent stake in Vhernier, the distinctive Italian jewellery maison, in a private transaction. Founded in Valenza, Italy in 1984 and headquartered in Milan, Vhernier was acquired by the Traglio family in 2001. Commenting on the acquisition, Johann Rupert, chairman of Richemont, said: “Maison Vhernier brings a...

Business

About You posts revenue and profit growth

The About You Group achieved revenue growth of 1.6 percent to 1,935.2 million euros and improvement in adjusted EBITDA to 3.2 million euros despite tougher-than-expected market conditions. For fiscal year 2024-2025, the company’s management board expects group revenue growth between 1 percent and 10 percent year-on-year and an increase in...

Business

Zalando improves profitability in Q1, confirms outlook

Zalando delivered growth and improved profitability in the first quarter with gross merchandise volume (GMV) increase of 1.3 percent to 3.3 billion euros and revenues of 2.2 billion euros compared with 2.3 billion euros in the prior-year period. Zalando said, adjusted EBIT rose to 28.3 million euros, in line with market expectations and...

BusinessFeatured

Coty's Q3 LFL revenues up by 10 percent, beat forecast

Coty’s third quarter net revenues grew 8 percent to 1,386 million dollars on a reported basis and 10 percent on a LFL basis supported by growth in fragrances, colour cosmetics, skin care and body care. These results trended above the company's guidance of 6 to 8 percent LFL for the second half of FY24. On a year-to-date basis, net revenues grew...

Business

LVMH appoints advisors, reports say, as it considers sale of Marc Jacobs

LVMH and Marc Jacobs are once again gracing the headlines this week, with speculation swirling around the potential sale of the New York-based brand. Despite efforts to quash rumors, whispers of a possible transaction persist, keeping industry observers on the edge of their seats. Last week, Bloomberg stirred the pot by reporting that LVMH, the...

Business

Decathlon develops recyclable swimwear with Resortecs

French sporting goods chain Decathlon has teamed up with the Belgian textile recycling company Resortecs to develop a recyclable swimwear collection. The collection addresses the main problem with recycling swimwear to date, which has been that swimwear fabrics usually have high elastane content, but elastane cannot yet be separated from the...

Business

Sycamore may take Nordstrom private

New York-based private equity firm Sycamore Partners has set its sights on acquiring U.S. department store group Nordstrom, with plans to take it private. Following discussions held by Nordstrom CEO Erik Nordstrom and President Pete Nordstrom with the chain's board last month, the company confirmed its exploration of the possibility of...

BusinessFeatured

Tunis Fashion Week 2024: A platform for international business and artistic dimension

By bringing together institutional delegations from China and Russia, potential private partners from Algeria and brands from Tunisia, Portugal, Italy, Russia and France, at the gateway to the Sahara, in the phantasmagorical setting of an arty, industrial salt lake, the producer of Tunis Fashion Week, Anis Montacer, presents Tunisia with a...