Latest Articles in Business

France's richest family, Red Bull in exclusive talks for Paris FC takeover

Paris - The Arnault family, owners of the LVMH luxury goods conglomerate, are in "exclusive negotiations" to buy a controlling stake in French football club Paris FC in a deal that will see energy drinks giant Red Bull secure a minority shareholding. The Agache group, which is controlled by LVMH CEO Bernard Arnault, said in a statement that it...

Business

'Sustainability Lab': UDIT launches research and development project with Spanish fashion giant Tendam

Determined to support the transformation of fashion from the ground up, Spanish fashion group Tendam has announced the creation of its new Sustainability Lab, a research and development laboratory focused on sustainability, which in collaboration with UDIT University in Madrid and consultancy IDavinci aims to ‘redefine the future of fashion’...

Business

Swiss watch exports to China plunge 50 percent in September

Zurich - Swiss watch exports suffered their steepest fall this year in September, pulled down by a 50-percent plunge in sales to China, the industry's federation said Thursday. It marks the latest sign of weakening demand in the world's second-largest economy, which has hit Europe's luxury sector. Sales to Hong Kong also fell 34.6 percent during...

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Levi Strauss & Co. publishes inaugural climate transition plan, aims to be net zero by 2050

Denim and lifestyle brand Levi Strauss & Co. (LS&Co.) has published its inaugural climate transition plan, which includes a roadmap for the company to reach both its near-term greenhouse gas (GHG) emissions reduction target by 2030 and its goal of being a Net Zero emissions company by 2050. Following in the footsteps of the H&M Group and...

Business

Brave Kid partners with Movopack for reusable packaging

Childrenswear prêt-à-porter and accessories retailer Brave Kid has partnered with Movopack to integrate reusable packaging in its online orders. Part of Italian conglomerate OTB Group, the partnership strengthens Brave Kid’s commitment to reducing its environmental impact while raising awareness among young consumers about circular practices....

Business

N Brown to be taken private through 191 million pounds deal

Bidco, a newly formed company owned and controlled by Joshua Alliance, will acquire fashion retailer N Brown for approximately 191 million pounds. The company has offered 40p per share in cash compared with N Brown’s closing price of 27p yesterday. The Alliance family already owns around 60 percent of N Brown’s total shares. Bidco said in a...

Business

Reformation partners with Ambercycle to feature cycora in its latest collection

Los Angeles-based sustainable fashion brand Reformation has partnered with material science innovator Ambercycle to introduce a collection featuring cycora, Ambercycle’s regenerated polyester. Marking the start of an ongoing collaboration, the partnership aligns with Reformation’s broader goal of becoming circular by 2030. "To us that means...

Business

FibreTrace partners with Thai Acrylic Fibre to provide end-to-end traceability

FibreTrace, a real-time verification solution for fiber integrity and traceability solutions, has announced its new partnering partnership with Thai Acrylic Fibre (TAF). Through this new partnership, TAF will integrate FibreTrace Technology into its acrylic fiber production. A leading global producer of acrylic fiber and part of the Aditya Birla...

Business

Qorium announces next step towards full-scale commercialization of lab-grown leather

Lab-grown leather innovator Qorium has taken a significant step towards the full-scale commercialization of lab-grown leather with its latest sample. The material measures 35 by 35 cm and was manufactured through the company’s recently scaled-up tissue bioreactor, demonstrating the viability of the company’s production process for large-scale...

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Autone raises 17 million US dollars in Series A funding

London-based AI-powered inventory management platform Autone, which helps retailers predict demand, reduce waste and increase sales, has raised 17 million US dollars in Series A funding. The round was led by General Catalyst, alongside all existing investors from its seed round, including Speedinvest, YCombinator, Seedcamp, 2100VC, Motier,...

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LVMH sales dip signals broader challenges for the luxury industry

A 5 percent decline in quarterly sales may not spell disaster for LVMH's annual revenue, but for a bellwether like this luxury giant, the stagnation in its fashion and accessories portfolio signals broader challenges for the entire industry. LVMH, long heralded for its ability to weather economic downturns and outpace its competitors, is now...

Business

Kinnevik's net asset value drops in Q3

Kinnevik’s net asset value of 37.4 billion Swedish krona or 132 Swedish krona per share declined by 1.9 billion Swedish krona or 5 percent in the third quarter and down 7 billion Swedish krona or 14 percent, when adjusting for the 6.4 billion Swedish krona extraordinary cash distribution "After seven years, the transformation to growth is...