Latest Articles in Business

Eleven years after Rana Plaza, where is the fashion industry in terms of transparency?

Eleven years ago today, on 24th April 2013, the Rana Plaza building in Savar, Bangladesh collapsed, killing more than 1,100 garment workers and injuring more than 2,500, many of them severely. All of those deaths and injuries could have been prevented had the five garment factories housed in the building evacuated on time like the other...

Business |Beauty

Glossier brings back scheme to support Black beauty entrepreneurs

Beauty brand Glossier has confirmed that its UK Black Beauty Grant Programme, which launched last year in partnership with Black Girl Fest Studios, is returning for 2024 to offer funding and tailored business support to Black beauty entrepreneurs in the UK. The UK grant programme builds off Glossier’s US initiative that began in 2020 and has...

Business

Tapestry responds to FTC's lawsuit blocking acquisition of Capri Holdings

The Federal Trade Commission (FTC) has sued to block Tapestry’s 8.5 billion dollars acquisition of Capri Holdings Limited, a deal that seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand. The Commission issued an administrative complaint and authorised a lawsuit in federal court to...

Business

Colombian designer jailed 18 months over reptile handbags

A celebrity fashion designer was sentenced Monday to 18 months in prison for smuggling handbags made from the skin of protected reptiles into the United States. Colombian national Nancy Gonzalez, 71, admitted in November to illegally importing purses made from caiman and python skins between February 2016 and April 2019. Both animals are...

Business

JD Sports to acquire US-based Hibbett for 1.08 billion dollars

JD Sports Fashion has announced the proposed acquisition of sports-fashion brand Hibbett. Today the group proposed to acquire 100 percent stake in Hibbett for a price of 87.50 dollars per share in cash, implying an equity value of 1,083 million dollars and an enterprise value of 1,109 million dollars. Commenting on the development, Régis...

Business

THG delivers 4.5 percent Q1 sales increase

Overall THG Group achieved first quarter revenue growth of 4.5 percent to 455.4 million pounds. The company said in a release that THG Beauty delivered a growth of 11.1 percent to 267.6 million pounds following targeted changes to geographic strategy through 2023, focusing on more profitable customers and territories closest to the global...

BusinessFeatured

Golden Goose posts strong Q1, appoints Marco Bizzarri to board

Following a strong performance in 2023, Golden Goose net revenues for the first quarter increased by 12 percent at constant exchange and 11 percent on a reported basis, while maintaining strong margins. The company also announced the appointment of Marco Bizzarri, former president and CEO of Gucci, to its board of directors. The company’s...

Business

Charles Tyrwhitt posts strong sales growth in 2023

Turnover at British shirt maker Charles Tyrwhitt for the year to July 29, 2023 increased 45 percent to 269.2 million pounds, of which 49 percent was contributed by the UK market and 51 percent by the rest of the world. Founders Nicholas Wheeler and his wife, Chrissie Rucker earned over 21 million pounds last year as the company benefitted from...

Business

HanesBrands Inc to achieve zero waste across its operations by 2025

HanesBrands Inc., the parent company of apparel brands Hanes, Champion, Bonds, Maidenform, and Bali, is set to achieve zero waste across its operations by 2025, according to its latest Sustainability report. The report, published on Earth Day, April 20, highlights the steps the apparel company has taken to ensure it reaches its sustainability...

Business

Perry Ellis International expands partnership with CleanHub against plastic waste

Perry Ellis International, Inc (PEI), the parent company of Original Penguin and Perry Ellis, has expanded its partnership with CleanHub to include the Perry Ellis brand in its effort to intercept plastic waste before it contaminates oceans and waterways. The expansion of its partnerships sees PEI allocating a portion of its sales towards...

BusinessFeatured

Elena Strahova, CEO, Riga Fashion Week: 'Latvian brands tend to operate within their own niche'

On the fringes of the traditional fashion industry circuit, Fashion Week in Latvia's capital Riga has established itself as a benchmark event in the Baltic region, distinguished by its focus on sustainability and ethics in fashion. Elena Strahova, founder and CEO of Riga Fashion Week (RFW), which took place from April 8 to April 11, takes stock...

Business

More job cuts at Lululemon as it closes U.S. distribution center

Canadian Athleisurewear giant Lululemon is set to close its distribution center in Washington, leading to the layoffs of 128 employees, according to a filing in the local state. Shares in the company have fallen over 31 percent since the start of 2024. The job cuts are expected to commence on June 21, with plans to shut down the facility by the...