Puma shares accelerated their decline on Tuesday, at times falling as sharply as they did in January. The drop is thought to have been triggered by subdued analyst comments on second-quarter sales following discussions with management.

The sporting goods manufacturer's shares were last down 7.5 percent at 26.02 euros, placing them second to last on the MDax in the afternoon. At times, they had fallen by as much as 9.6 percent.

In response, Bernstein analyst William Woods has now lowered his estimates. He expects a currency-adjusted sales decline of 9 percent for the second quarter. This is below the market consensus, which forecasts a 6 percent decline. Woods cited a normalisation of business activity and challenging comparatives in the US mass-market business as reasons for his move.

Puma is set to release its second-quarter results on July 31.

Seidensticker is bringing its womenswear back to wholesale, starting from the upcoming order season. The blouse specialist has adapted its collection accordingly.

Back in January, Seidensticker's CEO Silvia Bentzinger did not rule out a return for womenswear to wholesale, as she mentioned in an interview. She did not want to announce any concrete plans at the time. The Bielefeld-based company has now confirmed its updated strategy, following a report by the trade magazine Textilwirtschaft (TW).

“With the realignment of our womenswear, we are deliberately focusing on a distinct profile rather than breadth,” said Bentzinger, speaking to FashionUnited. “We are returning with a clearer, more modern collection and a selective wholesale strategy that perfectly matches our positioning as a blouse specialist.”

Before Seidensticker announced at the end of 2024 that it would no longer sell its womenswear via the wholesale channel, the collection and customer structure were very heterogeneous, Bentzinger explained to TW. At the time, the womenswear collection was available in the premium segment as well as at retailers such as Sinn and Galeria Kaufhof. The different requirements of these partners led to a dilution of the brand.

The company did not wish to provide specific details about potential retail partners when asked by FashionUnited. The goal is to build sustainable partnerships with the “right retail partners,” the CEO added. “The current market movement is opening up opportunities that we want to seize with a focused offering and a strong signature style.”

From spring 2027, Seidensticker plans to return with a more focused and expressive assortment than before. The collection, comprising around 60 options, will be somewhat more understated, which is why fewer prints will be included. The focus will be on blouses, although product groups such as knitwear, trousers, dresses and blazers will also be expanded in the future. Additionally, the never-out-of-stock range has been adjusted. It now includes around 120 items and features a larger proportion of fashion-forward pieces.

Womenswear currently accounts for around 30 percent of turnover. Menswear is expected to remain the main revenue driver in the long term. However, the company considers an increase in the womenswear share to 40 percent to be realistic.

Madrid – Under the name "MPattern", Spanish entrepreneurs Iván Royo, José Luis Gonzálvez and Antonio Calero have just launched an innovative solution. They aim to reshape common practices within the fashion industry, once again thanks to artificial intelligence (AI). Their platform automates the process of pattern drafting and fitting.

The creators behind the "MPattern" platform explain that current dynamics in the garment industry involve creating a base pattern. Pattern makers then work on this base to create the uniqueness of each garment through cuts, plays on volume, gathers and all other kinds of elements and fabric manipulations. These creative gestures lead to the final pattern for the garment in a later phase. The platform's launch not only acknowledges but also aims to enhance this process. It does not focus on that stage of garment construction, but on the immediately preceding and initial one: drafting the base pattern. For small sewing workshops, this element must be drawn for each new client. For small fashion firms, it makes it difficult to expand the range of their different styles, as each resizing and grading of a pattern consumes hours of work to achieve the perfect fit for each different size. Automation systems do exist to overcome this barrier. However, they warn that these solutions "cost thousands of euros" and are designed "for factories with hundreds of workers". In response to these tools, they are launching this AI-powered pattern generation platform.

"Our goal is not to replace the work of pattern makers and designers, but to democratise access to tools that were previously reserved for large companies, allowing students, small workshops and emerging brands to compete technically on an international level," defend the founders of MPattern. In this commitment, "the artificial intelligence" implemented through the platform "is not here to replace the pattern maker," but "is here to give them back their time." Therefore, professionals will continue to lead the "transformation" phase and "the creative decision-making—what the craft is really about—," while "the repetitive base" will be left to technology. With this platform, "we dream that a person in their home, or a small atelier in any country, can compete technically with any studio in the world, without giving up the craftsmanship behind" the fashion industry.

Available in 52 languages

Developed under the umbrella of Midnata Labs, a technology company founded by the three co-founding partners at the beginning of 2026, the platform is the result of years of work dedicated to its design and development. It is now available and accessible to users from its official website. For now, it is only accessible through this environment, although an option for combined work between the web platform and mobile devices is already enabled, pending the upcoming launch of an app.

Regarding its functionality, MPattern summarises it in a sequence of just five steps. It begins with the creation of a measurement profile, for which they note they have 47 anthropometric points ready for any user. After this initial step, the user must choose a base pattern from the more than 50 professional patterns offered by the platform. These include models for shirts, trousers, dresses, tailored garments or kidswear. These models can then be further personalised with a measurement adjustment step, where users can enter the different values for chest, neck, shoulders, wrist or waist, in either millimetres or inches. The process concludes with the visualisation of the pattern, which the platform generates in parallel and in real time from the measurements entered in the table. It modifies the pattern while respecting the original proportions with each measurement change. Finally, the pattern is ready to be either printed at a 1:1 scale for finishing "by hand", or exported to Adobe Illustrator, CLO3D or any other design software. A noteworthy feature is the "projector mode" option. This allows the pattern to be projected at a 1:1 scale directly onto the fabric, further streamlining the entire process and reducing resource consumption.

"What used to take four hours can now be done in just three minutes," MPattern emphasises. The platform is accessible to its users—beyond the free trial, which does not require a credit card—on a one-time payment basis without a subscription. It operates under European data protection regulations, shielding user information from public AI learning models. It is accessible from any country's browser in 52 different languages. These features, they stress, highlight their "vocation to serve a fashion student in Madrid" equally to "an 'atelier' in Lagos or an independent designer in Seoul". With "thousands of technical adjustments and calculations" happening in the background, users can "work more efficiently". This translates into "less time building base patterns" and "more time creating fashion".

Paris - The environmental cost of clothing is still of little interest to consumers, according to an initial assessment by brands on Monday. This comes eight months after the eco-score came into effect in France.

Since October 1, brands have been able to voluntarily implement this eco-score. A label displays the "environmental cost" of a textile. The higher the score in "impact points", the less sustainable it is. Therefore, the objective for brands is to achieve the lowest possible score.

The eco-score is calculated based on water consumption; greenhouse gas emissions; toxicity; recycling or repair possibilities; the volume of microplastic fibres released during washing; and a "fast fashion coefficient" that considers production volumes.

This week, the milestone of 100 brands using this label "will be passed", according to the Ministry of Ecological Transition, which gathered industry stakeholders on Monday. "We wanted to show that we could have low prices and be exemplary from an environmental standpoint," stated Camille Caron, head of CSR at Kiabi.

Lack of customer interest and clarity highlighted

According to initial feedback on Monday, consumers are paying very little attention to the eco-score. "For now, customers are not interested, despite the physical display in stores," testified Clémence Berlier, head of CSR at menswear brand Jules. The sentiment is similar at SMCP (Sandro, Maje, Claudie Pierlot and Fursac), where "the primary criterion for customers remains desirability," advanced Damien Pelle, the group's head of sustainability.

There is no reason to be alarmed, however, noted Bertrand Swiderski, CSR director at Carrefour. "It took people several years to adopt the Nutriscore," he remarked.

Some brands note that consumers find the indicator difficult to understand. "For those who are interested, it is not clear enough," testified Berlier. The displayed eco-score figure "is not very legible," confirmed Pauline Greneche, CSR project manager at Leclerc, a retailer that has used the system since February.

A 'titanic task' for brands ahead of European harmonisation

Collecting data for 400 of the group's products represents a "titanic task", particularly in "identifying all suppliers," she added. These reasons prompted Camille Caron of Kiabi to call for "more experimentation before regulating this score".

The system, planned in the Climate and Resilience Act (2021), was set to become mandatory in 2024. It is ultimately only voluntary to allow the European Union to complete its work on developing a future mandatory environmental label.

Resale technology company Reflaunt has launched Folio, opening the platform to personal stylists and private client advisors to manage second-hand sales for their clients through a single app.

"For the first time, a stylist has the infrastructure to advise and edit a client's wardrobe across its full lifecycle, not just focus on what's new each season," Sarah Rutson, creative merchant and Reflaunt advisor, said in the press release.

The London-based company already operates resale programmes for brands including Balenciaga, Harvey Nichols and Level Shoes. With Folio, it is targeting stylists directly, as high-net-worth clients increasingly expect them to handle resale alongside new purchases. The company has not disclosed revenue figures, though it said earlier this year that it had reached profitability.

How it works

Stylists or clients flag items for resale through the app, after which Reflaunt handles collection, authentication and listing within days across platforms including Vestiaire Collective, Poshmark, eBay and The RealReal. Proceeds go to the client or are reinvested in new purchases, while stylists earn a commission on each sale and can track activity in real time.

"Resale platforms were built for consumers, not for the professional managing ten clients across several markets, tracking 300 live listings, and channeling proceeds back into a client relationship," said founder and CEO Stéphanie Crespin. "We built Folio to answer that."

Rollout

Folio ran as an invite-only pilot from January 2026 and is now open to its first broader cohort of fashion professionals via referral or through the dedicated Folio website.

This article was written by AI

European companies whose value increasingly depends on intellectual property and other intangible assets could benefit from improved access to finance. This follows work by the European Union Intellectual Property Office (EUIPO) on intellectual property-backed financing. The EUIPO is responsible for managing EU trademarks, registered EU designs and models, and EU geographical indications for craft and industrial products.

During a joint meeting of the steering group and the technical working group on intellectual property-backed financing, held in Brussels on June 10, participants approved the European IP-backed finance roadmap. This marks the transition from analysis and research to the practical implementation phase.

João Negrão: "what we need is a financial system that better recognises the value of innovation and intellectual property"

The approval is based on the findings of the EUIPO report "IP-backed finance in Europe: state of play and future perspectives". The report identified the main obstacles preventing innovative companies from using their intellectual property more effectively when seeking finance.

Organised by the European Union Intellectual Property Office (EUIPO) and the European Commission, the meetings brought together representatives from EU institutions, national intellectual property offices, financial institutions, industry organisations and experts.

Opening the event, Nathalie Berger, director for competitiveness coordination at the European Commission's DG Grow, and João Negrão, executive director of the EUIPO, stressed the importance of adapting the European financial system to an economy increasingly driven by innovation, knowledge and intangible assets.

"Europe has the talent, the research and the capital. What we need is a financial system that better recognises the value of innovation and intellectual property, helping innovative companies to grow, expand and compete globally," stated Negrão.

Although intellectual property and other intangible assets are often among a company's most valuable resources, they remain difficult to assess and use in financing decisions for many financial institutions. Consequently, innovative companies, particularly start-ups, scale-ups and SMEs, may face difficulties in accessing the finance they need to grow.

The intellectual property-backed finance roadmap sets out a practical path to address this challenge. Its goal is to help companies present information about their intellectual property and other intangible assets more clearly and consistently. It also aims to support banks, investors and public financial institutions in better understanding and using this information.

The work focuses on several areas identified as essential for a functioning ecosystem of intellectual property-backed financing. These include: improving how intangible assets are communicated and valued; strengthening valuation practices; building a more robust evidence base through real data and financial transactions; and exploring how guarantee schemes and other risk-sharing mechanisms can support the financing of innovative companies.

By the end of 2027, the fundamental components needed to support the wider European intellectual property-backed financing ecosystem are expected to be ready for operational deployment. This will create new opportunities to connect innovation, investment and growth.

British sportswear brand Castore, founded by Tom and Phil Beahon, has acquired a controlling stake in heritage shoemaker Grenson, which has been making footwear in Northamptonshire, England, since 1866.

According to Grenson’s Companies House filings, J Carter Sporting Club Limited, the parent company of Castore, has acquired a 75 percent stake in the shoe and bootmaker, and Grenson’s previous owners, Tim Little and his wife Julie Little, have stepped down from the board.

In addition, Grenson officially changed its registered office address from its traditional home in Northamptonshire to Castore's headquarters in Manchester.

Tom Beahon, co-founder and chief executive of Castore, said in a statement: “Grenson is an iconic British brand with extraordinary heritage, craftsmanship and authenticity. Phil and I have admired the business for a long time, and we see a significant opportunity to support its next chapter while protecting the qualities that make it so special.

“Castore Group’s ambition is to build a portfolio of premium British brands with global relevance. As with Belstaff, this investment is a commitment to long-term stewardship, investing behind strong fundamentals and helping distinctive British brands reach more customers around the world.”

Castore continues to diversify beyond sportswear with a controlling stake in Grenson

Grenson is one of the oldest and most respected names in traditional British shoemaking, founded by William Green in 1866, and the brand made a name for itself as a major supplier to the British military during World Wars I and II.

In 2010, Little bought the business from the Green family, where he kickstarted an expansion of the brand through four stores in London and wholesale with retailers such as Selfridges, Dover Street Market and Mr Porter. He also introduced the first women’s collection in 30 years, as well as high-profile collaborations with the likes of New Balance, Craig Green, Liberty, Vivienne Westwood, Neighbourhood, and Kith.

Key styles for the brand include the signature ‘Fred’ brogue boot and the ‘Nanette,’ a chunky women’s hiker boot that has become a favourite with celebrities, such as Holly Willoughby.

Commenting on the sale, Tim Little, chief executive of Grenson, added: “I have always known that one day I would want to secure a bright future for Grenson, and when I met Tom and Phil, I knew that they were the perfect people. They understood the brand, its heritage and the opportunity, and from the very first meeting, I was convinced they were the ideal custodians of the brand.

“I can’t wait to start working with them on this exciting new chapter for this 160-year-old company.”

Details of the deal have not been disclosed.

This marks the second heritage acquisition for Castore, following its purchase of British luxury brand Belstaff in August 2025 from its parent company INEOS. The move at the time was seen as Castore’s step into luxury fashion, diversifying beyond its sportswear credentials, where it sponsors major sports teams around the world, as well as designing sportswear for both everyday workouts and professional athletes.

Elche (Alicante) - Five weeks after Fice and the Spanish Association of Component Companies for Footwear and Leather Goods (AEC) met with the minister of industry and tourism, Jordi Hereu, to present a sectoral competitiveness plan, the AEC is raising the alarm. It highlights the critical situation facing the sector, which is experiencing a sustained decline in its business fabric, employment, and industrial production. The association is demanding an immediate and coordinated sectoral action plan from public authorities.

According to the latest data from the Central Business Directory (Dirce), the number of footwear manufacturers in Spain decreased by 35 percent between 2020 and 2025, falling from 3,280 to 2,131 companies. In 2025 alone, 195 companies closed. The decline has been particularly severe in regions with the highest industrial concentration: the Valencian Community lost 37 percent of its companies, Castilla-La Mancha, 39.7 percent, Murcia, 22.5 percent and La Rioja, 17.4 percent. These four regions account for 87.4 percent of the Spanish national footwear business fabric.

The Industrial Production Index for footwear recorded a year-over-year decline of 9.2 percent in 2025 and stood at -29.1 percent in April 2026. In parallel, employment in the footwear and leather sector fell by 10 percent year-over-year in December 2025. By May 2026, it had accumulated a loss of 1,704 jobs compared to the same month the previous year, representing a decrease of 4.5 percent.

Trade deficit and Asian pressure

The sector's trade balance closed 2025 with a deficit of 1.86 billion euros in value. Exports reached 167.7 million pairs, valued at 3.39 billion euros, while imports totalled 370.8 million pairs, valued at 5.25 billion euros. 83.5 percent of imported footwear came from Asia, with China as the main supplier, accounting for 198 million pairs. Compared to the 71 million pairs manufactured in Spain—0.3 percent of world production—China accounts for 53.4 percent of global production, with 13 billion pairs annually.

The hourly labour cost in the Spanish sector is 15.38 euros, lower than Italy (26.38 euros) and Germany (20.83 euros), but significantly higher than Portugal (9.94 euros), Greece (9.33 euros), and Eastern European countries, where it ranges between five and eight euros. This gap, compounded by the rigidity of seasonal hiring, limits companies' ability to adapt their production to demand.

The footwear components sector, which comprises nearly 1,000 companies and over 19,000 direct and indirect jobs, is directly affected by the deterioration of the value chain. In 2025, it exported components worth 1.70 billion euros and imported components worth 1.76 billion euros. AEC notes that the contraction in consumption, the increase in imports, and weak export performance are compromising industrial activity in clusters where footwear holds significant strategic importance.

”We are not talking about isolated companies; we are talking about a complete value chain. Companies can no longer endure. We need an immediate, coordinated institutional response with an industrial vision”, stated Álvaro Sánchez, general director of AEC.

AEC is calling for a coordinated plan between the state, autonomous communities, and local entities that combines emergency measures with structural reforms. Priorities include making seasonal hiring more flexible; providing financial support for micro, small, and medium-sized enterprises; implementing reindustrialisation programmes focused on productivity and export capacity; and reviewing trade instruments to address Asian imports with stricter tariff controls.

The association is also demanding greater institutional support for international promotion and for the sector's international trade fairs held in Spain, as well as a reduction in administrative and tax burdens on industrial activity.

Beijing - China imposed export controls on ten US companies, including some from the defence and rare earth mining sectors, Beijing reported on Monday.

It also banned dozens of US companies from participating in public procurement, in response to a Washington blacklist of Chinese firms.

The measures were adopted one month after US president Donald Trump's visit to China, which sought to stabilise tense relations with his counterpart Xi Jinping.

Shortly after the visit, the United States released a blacklist of 80 Chinese companies and their subsidiaries. Washington claims these companies support the Chinese military, which prompted Beijing to threaten retaliation.

China's new export controls are "in response to the heinous act of the US government of adding companies to its so-called 'list of Chinese military companies'," the Ministry of Commerce said in a statement.

It added that the provisions also seek to "safeguard China's national security."

Among the ten entities are Aveox, which has aerospace contracts with the US armed forces, and Oshkosh Defense, which manufactures military vehicles.

Meanwhile, the Chinese Ministry of Finance announced a ban on 46 US companies from participating in public procurement in the country. The ban includes Lockheed Martin, Raytheon and Boeing's defence division.

The US blacklist affects Chinese giants such as Alibaba, Baidu and BYD.

E-commerce worldwide is suffering from a growing number of fraudulent customers.

According to an analysis by US cybersecurity service provider LexisNexis Risk Solutions, both the economic downturn and organised crime contribute to this. International gangs are reportedly targeting and recruiting people to commit online shopping fraud or provide their identities to criminals.

The company operates a “Digital Identity Network” to verify online identities and purchases. The analysis was based on 116 billion transactions last year.

Organised gangs have discovered e-commerce

Genuine customers, as opposed to perpetrators who use stolen or fake identities or commit other forms of fraud, reportedly accounted for 38.8 percent of all fraud cases worldwide in 2025. This is almost two percentage points more than the previous year. In Europe, the rate of these so-called first-party fraud cases is now almost 52 percent.

“On the one hand, the crisis is driving some people to look for opportunities to commit fraud,” says Jason Lane-Sellers, a cyber fraud expert at the company. “There are also groups that are specifically targeted by criminals, such as people with poor credit ratings or students. The perpetrators pay an extra 50 euros and instruct them.”

Some are unknowingly involved

This also affects German e-commerce. A spokesperson for the e-commerce association BEVH confirms the British cyber expert's assessment: “It is indeed the case that students or pensioners are recruited for the scam. Many do not even know they are supposed to be part of a scam, but simply receive an offer of money in exchange for providing their data.”

Fraud is a growing and significant problem, says Bernd Ohlmann, spokesperson for the Bavarian trade association (HBE). “E-commerce is booming and continues to grow this year. There are some who want to take a piece of the pie, and not just in a legal way.”

A common scam involves goods delivered on account or credit not being paid for, or being claimed as never ordered. “People who order the latest trainers and then claim the goods never arrived, or that they never placed the order,” says Lane-Sellers.

Favourable credit offers an incentive for criminals

This also affects the financial sector, which attracts customers with favourable credit offers: “It is now possible to order expensive mobile phones with a two-year credit agreement and no down payment,” says the expert. “Many of these attacks affect financial service providers. We see the biggest impact on services like buy now, pay later and one or two-year credit agreements.”

According to Lane-Sellers, it is also common for dishonest buyers to demand a refund for goods they claim were not delivered. “As long as a company cannot prove that a customer has intentionally committed fraud, it is very difficult to dispute fraudulent refund claims.”

The burden of proof lies with the retailer, as HBE spokesperson Ohlmann also states. Goods obtained through online fraud, or stolen from a brick and mortar shop, often end up back online. “Stolen goods are sold off en masse online,” says Ohlmann.

The increase in fraud cases by genuine customers does not mean that identity theft or the criminal takeover of online accounts are in decline. In this respect, according to LexisNexis Risk Solutions, gangs are now more frequently shifting their attacks to desktop computers.

Companies can read more signals and data in mobile apps, which potentially allows for better security profiles for fraud detection, says Lane-Sellers. “Meanwhile, customers may believe that traditional desktop computers are more secure for higher-value transactions than their mobile devices.”

LA-based womenswear brand Reformation is believed to be preparing to confidentially file an initial public offering (IPO) in the coming week, with plans to potentially go public in July, according to the Wall Street Journal.

Reports suggest that the company has been mulling an IPO for years, with rumours of such discussions spanning as far back as 2023, when Bloomberg reported on a potential public listing.

The brand is said to be on track to rake in more than 500 million dollars in revenue this year, an increase of 40 percent on its 2023 turnover.

Sales are largely driven by its direct channels, with 70 stores located globally, including five in London. It also operates via retail partners like Selfridges, Harvey Nichols and Liberty.

Founded in 2009, Reformation has remained under the majority ownership of Permira since 2019. At the time, stakes in the business were retained by CEO Yael Aflalo, president Hali Borenstein, and investor Stripes Group, which remained a partner.

The brand emphasises a commitment to sustainable materials, and operates via a vertically integrated model for both manufacturing and distribution.

UK fashion held up better than the wider high street last week, with like-for-like (LFL) sales down -4.13% — a far shallower decline than the broader retail market managed in a difficult week, according to the latest BDO High Street Sales Tracker. The category proved the most resilient of the three BDO tracks.

Online fashion was the more defensive channel, with non-store LFLs slipping just -2.97%. That came against an exceptionally demanding base: the same week last year surged +21.43%, making it one of the toughest comparisons in the recent run and softening the read on this week's dip.

Store fashion fell -4.63%, against a positive +4.90% base a year earlier. The in-store channel bore the heavier share of the category's decline, in line with the wider physical-retail weakness BDO recorded across the high street this week.

The wider picture was markedly worse. Total LFL sales fell -7.81%, the second weakest week of the year, from a positive +3.85% base. Total store sales dropped -7.62%, the biggest fall since the start of the year, while total non-store sales eased -4.15% against a strong +10.97% comparison.

Springboard footfall fell -3.7% overall, dragged down by the high street at -6.6% and shopping centres at -2.3%. Retail parks bucked the trend, with footfall up +1.1% — the one bright spot in an otherwise subdued week for physical visits.

The UK saw mixed, changeable weather, warm early before midweek showers and a drier weekend. With every fashion figure measured against a positive prior-year base, the week's softness reads more as a demanding comparison than a structural retreat.

Leonardo Maria Del Vecchio, an heir to Ray-Ban parent company EssilorLuxottica, is believed to be seeking expanded influence over the eyewear conglomerate's holding company as the future of the empire's ownership structure comes into question.

According to Reuters, the 31-year-old executive, who serves as chief strategy officer at EssilorLuxottica and chairman of Ray-Ban, is reportedly exploring financing worth around 10 billion euros to acquire the stakes of two siblings in Delfin, the Luxembourg-based holding company that owns 32.4 percent of EssilorLuxottica.

If completed, the transaction would increase Del Vecchio's holding in Delfin from 12.5 percent to 37.5 percent, making him the company's largest shareholder.

The move follows the death of EssilorLuxottica founder Leonardo Del Vecchio in 2022, when ownership of the family holding company was divided equally among eight heirs. Since then, differing views among shareholders have reportedly complicated decision-making within the group.

Despite potentially gaining a significantly larger stake, Del Vecchio would not gain full control of Delfin, as major strategic decisions require enhanced shareholder majorities under governance rules established by the founder.

The news comes after EssilorLuxottica reported a weakening profit in fiscal 2025, despite an improvement to global revenues. For the year, group net profit dropped 1.9 percent to 2.32 billion euros, while operating profit fell 2 percent year-over-year.

Annual revenue for the period rose 7.5 percent to 28.49 billion euros, with double digit growth seen across North America, EMEA and Asia-Pacific.

The group is currently initiating a medtech strategy that sees it pivot from traditional eyewear towards a holsitic healthcare ecosystem, driven by the vertical integration of medical research and advanced devices to create therapeutic treatments and connected wearables.

Reju has joined Recycling Europe as the organisation’s newest partner. The textile-to-textile recycling firm is now part of the Recycling Europe Textiles branch, underlining what it says is a commitment to advancing textile circularity and supporting recycled materials markets.

In a statement, Reju’s chief executive officer, Patrik Frisk, said: “Building partnerships like this one are important and we have the opportunity to establish a genuine circular ecosystem for textile recycling and invite collaboration across the entire value chain.”

Recycling Europe’s secretary general, Julia Ettinger, added that the “partnership shows how industry collaboration can scale textile circularity at the speed Europe now needs – unlocking both environmental and economic opportunity”.

With a focus on textile regeneration, Reju specialises in creating solutions for polyester textiles and post-consumer PET waste. It currently operates from a pilot Regeneration Hub in Frankfurt, Germany, and has revealed plans to expand through future industrial sites in Chemelot, the Netherlands; New York, US; and Lacq, France.

By joining Recycling Europe Textiles, Reju will collaborate on a collective mission to scale mechanical and chemical recycling technologies for post-consumer textiles, transitioning them back to raw materials and reducing emissions.

Plans for a new round of US-Iran talks have been postponed after US vice president JD Vance delayed a scheduled visit to Switzerland, slowing progress on the implementation of a recently signed ceasefire agreement.

The talks were due to focus on the next phase of a 14-point memorandum of understanding (MoU) agreed earlier this week, which brought to an end nearly four months of conflict between the two countries and paved the way for the reopening of the Strait of Hormuz.

The waterway is one of the world's most important shipping routes, connecting manufacturers and suppliers across Asia and the Gulf with European and US markets. Recent disruptions in the region have raised concerns around freight costs, shipping delays and supply chain reliability.

The MoU includes the lifting of the US naval blockade on Iranian ports, the restoration of commercial shipping through the Strait of Hormuz, the gradual removal of US sanctions and a commitment to negotiate a final agreement within 60 days.

While shipping traffic is said to have begun to recovering following the deal, uncertainty remains, particularly amid renewed violence in Lebanon, where Israeli strikes reportedly killed at least 18 people overnight.

Upcoming negotiations are expected to focus on implementing the agreement and addressing longer-term issues, including Iran's nuclear programme, as governments and businesses work towards ensuring stability for global trade routes.

October’s Very Own (OVO), the lifestyle and apparel label co-founded by rapper Drake, is facing a lawsuit over allegations of partial debt repayments and contractual breaches. The claims have been made by A.R.I. OVO Growth Capital, which said despite previous attempts to resolve legal issues, it now sought to enforce its rights and protect investors.

The investment firm, which commenced litigation in the Supreme Court of British Columbia, is seeking the recovery of around 4.6 million dollars in relation to owed funds, contractual default interest, legal fees and other expenses.

A.R.I. established a financing agreement with OVO in early 2025, injecting funding via separate transactions, including a senior secured credit facility and convertible promissory notes. The firm said it had initially viewed the globally-recognised brand as an attractive credit opportunity with substantial value enterprise potential.

OVO was founded in 2008 by Aubrey ‘Drake’ Graham, Oliver El-Khatib, and Noah ‘40’ Shebib, and is currently helmed by chief executive officer Derek ‘Drex’ Jancar. The brand sits within the premium lifestyle and luxury streetwear segment, and has become known for its activations across fashion, music, and sports.

Tensions heighten following acquisition rumours and equity raising efforts

In February 2026, however, OVO was alleged to have defaulted under the governing agreements after failing to repay debts on time. A.R.I. said it had worked to remedy the situation outside of court and ultimately entered into a forbearance agreement in which OVO approved the validity of unconditional payable obligations.

In a statement, the firm noted that it had “worked extensively with OVO through a formal workout process and provided the company substantial time and flexibility to resolve the situation outside of court”.

By May, A.R.I. claimed to have received a wire payment of around 3.8 million dollars transferred from a third-party account, making up part of the 4.6 million dollars owed. According to the case filing, however, OVO is alleged to have taken a stance that no further payments are withstanding.

Concerns over the deal were heightened upon A.R.I. learning of OVO’s reported efforts to secure a 30 million dollar equity financing transaction, which it said may be used to repay approximately 10 million dollars of indebtedness. The company is also believed to be facing approximately 12 million dollars in cumulative losses between 2022 and 2024.

A.R.I. further pointed to a recent report by media platform Puck that suggested OVO was mulling a transaction with Authentic Brands Group, which is believed to be considering the acquisition of 50 percent ownership. The investment firm said such discussions should have been disclosed as part of the contractual agreement.

FashionUnited has contacted OVO and Authentic Brands Group with a request to comment.

After an extended period of uncertainty, it appears that Quiz is finally closing its entire retail network. According to Drapers, the fashion retailer will be shutting its remaining 20 stores by the end of June 20.

The media outlet said the closures will impact Quiz’s locations in Merry Hill, Sheffield, Derby, Newtownabbey, Stirling, Portsmouth, Castleford, Leicester, Hull and Livingston, among others.

It comes as administrators at Interpath Advisory finalise their winding down process, which first launched in February. In May, a phased closure plan was then confirmed, and sought to shutter shops by June.

In a statement to Drapers, Alistair McAlinden, head of Interpath in Scotland and joint administrator, said: “As the Quiz stores close their doors for the final time, we would like to thank every member of staff for their commitment over the past five months.

“In exceptionally challenging circumstances, their professionalism ensured the business could continue to trade effectively. We are extremely grateful for their efforts and wish them all the best for the future.”

Zurich - Swiss watch exports remained almost stable in May, recording a modest increase of 0.4 percent to 2.1 billion Swiss francs, amid a sharp decline in China, the watch federation announced on Thursday.

This stabilisation, however, helps “to mitigate the cumulative decline observed over the first five months of the year,” the federation noted in a statement. The decline since the beginning of January now stands at 3.1 percent.

During the past month, Swiss watch exports rebounded by 12.3 percent to the US and by 24.9 percent to the UK, according to the watch federation's records.

France, however, showed the strongest increase among the major watch markets. Growth there amounted to 57 percent compared to the same period a year earlier. The federation highlighted that France is “driven by its role as a logistics hub” for re-exporting watches to other markets.

In contrast, exports to China fell by 21.4 percent, dampening hopes of a recovery in this key market for Swiss watchmakers.

These statistics “probably confirm that Chinese demand is mixed,” reacted Jefferies analysts in a market commentary. This comes as statistics since the beginning of the year had suggested an improvement after two difficult years in this market.

The basis for comparison was, however, “weak,” notes Manuel Lang, an analyst at Vontobel. For Lang, this drop in May “could serve as a warning for those who were betting on a recovery in China.”

After reaching peaks in 2023, the Swiss watch industry has experienced two more difficult years with the fall in demand in China since 2024, to which were added customs duties in the US in 2025. A glimmer of recovery seemed to be emerging in China in the watch federation's statistics since the beginning of 2026.

Watch exports to China had recovered by 5 percent in January, then fell by 11 percent in February but rebounded by 4.2 percent the following month. In April, they strengthened significantly, recording an increase of 17.1 percent.

The temperature is 35 degrees celsius but feels like 40 degrees due to the humidity. The air is stifling, the garment dust making it hard to breathe. The old ceiling fan is creaking and full of dust too, barely cooling the air. Workers, used to not drinking too much to avoid frequent bathroom breaks, sip on water spiked with electrolytes but fainting, nose bleeds and heatstroke are common.

What sounds like a dystopian narrative is very much a reality in many garment factories right now. The heat wave that is currently gripping large parts of South and Southeast Asia is stalling work in garment and textile factories and making workers’ lives even harder.

A strong El Niño is currently pumping massive reservoirs of oceanic heat into the atmosphere, compounding the long-term effects of human-induced climate change to drive global temperatures to record-breaking levels: 38 degrees Celsius in India and between 32 to 34 degrees Celsius in Sri Lanka, Bangladesh and Pakistan.

If you have ever exited a plane that just landed and been exposed to the jet exhaust for a few seconds while doing so, imagine being in there for hours. Across Asia, this is what it feels like at the moment, with shifting tropical weather patterns suppressing rainfall and weakening trade winds, thus trapping stagnant, dry air over the continent and triggering prolonged, extreme heatwaves. Heat strain starts from a temperature of about 30 degrees Celsius; heat stress from 32 degrees Celsius.

What is heat stress?

A recent report by the NYU Stern Centre for Business and Human Rights, entitled “Too Hot to Ignore: Extreme Heat in Garment Supply Chains,” warns the garment and textile industry not to ignore heat stress. The World Health Organization identifies heat stress as the leading cause of weather-related deaths. It occurs when the body cannot cool itself sufficiently through sweating and thus experiences symptoms like headaches, heat exhaustion, heatstroke, kidney damage, reproductive health issues or aggravated underlying health conditions such as cardiovascular disease, diabetes, asthma and mental health disorders. Heat stress arises when individuals are exposed to excessive heat and humidity or undertake strenuous activity in hot environments - such as working in a garment factory for instance.

The report makes the point that climate-driven extreme heat can no longer be dismissed as a distant environmental concern; it has rapidly transformed into a core operational hazard. It underlines that rising ambient temperatures and soaring humidity levels across South and Southeast Asia are actively disrupting production ecosystems right now. It reframes extreme heat not merely as a peripheral sustainability metric, but as an immediate occupational safety and health crisis that fundamentally threatens the resilience of the global fashion supply chain.

To substantiate these findings, the research methodology employed by the NYU Stern team combined broad corporate tracking with deep, localised field analysis across India, the world’s sixth-largest garment exporter that is increasingly exposed to extreme heat.

The researchers conducted on-site investigations across ten apparel factories, collectively employing nearly 9,000 workers and spanning key industrial states, including Tamil Nadu, Haryana, Odisha, Maharashtra and Karnataka. They supply brands for the domestic (D-mart, V-mart, Joki) and international market (Jack & Jones, Levi’s, Marks & Spencer, Primark, S.Oliver, Target, Tom Tailor, Uniqlo and others).

The empirical fieldwork included interviews with approximately 80 workers onsite at nine of the factories and a further 40 interviews with them off-site to get a feel for heat exposure at living conditions. The report also tracked internal environmental variables and evaluated medical-room logs across multiple facilities to capture seasonal health spikes. Additionally, the researchers surveyed international footwear and apparel brands to evaluate the stark misalignment between corporate awareness and actual compliance oversight on the factory floor.

What physical and financial toll does heat stress take on workers?

The human toll of this escalating climate crisis falls square on the individuals operating the sewing lines. The report documents how indoor microclimates in manufacturing facilities often eclipse the dangerous conditions found outdoors, particularly within heavily industrialised zones. For instance, researchers recorded indoor temperatures reaching a staggering 43 to 45 degrees Celsius inside a fabric dyeing and processing unit, which actually exceeded the outside ambient heat by as much as 5 degrees Celsius. This oppressive indoor environment triggers severe physiological strain, with workers frequently reporting acute episodes of dizziness, chronic headaches, debilitating dehydration, fainting, skin rashes and severe kidney or urinary complications brought on by a lack of proper cooling and restricted rest periods.

Crucially, this physical suffering translates into a severe financial penalty for a workforce that is already heavily economically marginalised. The report reveals that heat-related healthcare costs and defensive expenditures—such as buying electrolytes or paying for medical treatment—drain between 500 and 1,000 rupees (5.30 to 10.60 US dollars) per month from a worker's pocket. Given that average monthly garment wages in these regions hover between 11,500 and 18,000 rupees (around 122 to 190 US dollars), these climate-induced out-of-pocket expenses represent a devastating chunk of household income. This financial erosion is compounded by immediate wage losses whenever workers are forced to take unpaid sick days due to heat exhaustion, illustrating how the poorest stakeholders in the fashion ecosystem absorb the direct economic shocks of global warming.

What does heat stress mean for factories and supply chains?

From a strictly commercial standpoint, the report outlines how extreme heat actively dismantles factory efficiency and compromises product standards during peak summer periods. Factory managers interviewed across nine operating facilities reported measurable productivity drops ranging from 3 to 10 percent during intense heatwaves, alongside an increase in worker absenteeism of roughly 2 to 5 percent. The physical toll on the workforce forces a natural slowing of the production pace, which directly jeopardises tight delivery schedules. Furthermore, extreme heat strains the machinery itself, causing frequent generator overloads and grid outages, such as an incident in April 2024 at a Faridabad knitwear facility that forced the complete closure of an entire production floor.

Beyond volume drops, the physical realities of a sweating workforce degrade the actual quality of the garments being manufactured. Excessive worker perspiration leads to fabric staining, while open windows and struggling ventilation systems allow external dust contamination to compromise clean assembly lines, resulting in a spike in stitching errors and structural defects.

“Extreme heat is now a predictable supply chain risk for apparel brands. Factories are losing output, quality is suffering and delivery timelines are at risk, not as a future scenario, but right now,” notes Lucy Siers, senior research scientist for global labour at the NYU Stern Centre. This reality forces manufacturers to choose between absorbing the costs of rejected merchandise or facing stiff penalties from brands for late shipments.

Whose responsibility is heat stress?

The broader narrative of the report exposes a profound governance failure within global fashion supply chains, characterised by a severe imbalance of power and responsibility. The researchers found that while 94.1 percent of international brands surveyed openly acknowledge that extreme heat poses a moderate to significant threat to their operations, their internal purchasing practices tell a completely different story. Only 35.3 percent of these brands mandate that their suppliers track internal heat or humidity levels, and absolutely zero brands collect this data on a continuous basis. This creates a convenient informational blind spot, allowing multi-national retailers to demand strict compliance with labour standards while remaining entirely ignorant of the literal sweatshop conditions their pricing structures perpetuate.

This operational disconnect means that the immense financial burden of climate adaptation is pushed entirely onto the suppliers. Tight purchasing margins, volatile order volumes and brutally short lead times imposed by brands systematically starve factory owners of the capital needed to invest in necessary structural overhauls.

Michael Posner, Director of the NYU Stern Centre, addresses this systemic failure directly, arguing that brands sourcing from heat-exposed regions have a clear commercial and ethical mandate to remain and assist: “The answer is not to walk away from these sourcing regions and leave workers and suppliers behind. It is to invest in making them more resilient by requiring heat monitoring, setting clear safety standards, building flexibility into purchasing practices when heat disrupts production and sharing the cost of cooling and ventilation upgrades."

Key recommendations

To redress these structural vulnerabilities, the report offers a series of targeted, non-negotiable recommendations for all key actors across the textile value chain, starting with global buyers. First, brands and retailers must formally categorise extreme heat as a core occupational safety hazard and integrate continuous indoor temperature monitoring into their standard supplier audits.

They are urged to move towards a shared-responsibility financial model, co-funding engineering upgrades like passive cooling infrastructure and high-volume fan installations, while building explicit timeline flexibility into production schedules during heatwaves. A successful precedent is highlighted at Epic Group’s Bhubaneswar facility, where a joint financial partnership with the International Finance Corporation utilised automated systems to maintain a stable indoor environment of 28 degrees Celsius.

Simultaneously, the report calls for aggressive intervention from domestic governments and international industry regulators to codify these protections. National regulatory bodies must establish legally binding indoor workplace temperature thresholds and enforceable work-rest schedules that trigger automatically when specific heat indices are breached. Governments should also extend existing national heat action plans to formally encompass indoor industrial environments and classify heat stress as a compensable occupational illness within state-sponsored social protection frameworks.

Finally, suppliers must implement immediate local safeguards, such as ensuring worker wages are fully protected during heat-induced output drops, and establishing democratised factory committees to give workers a direct voice in identifying and mitigating heat risks on the floor.

Hollister is venturing into the home and decor category as part of a collaborative collection with Target. The US lifestyle label has designed a line for college dorm rooms or bedrooms, marking an expansion beyond apparel alone to cater to evolving consumer needs.

The first drop, set to launch June 28, includes nearly 60 pieces across men’s and women’s apparel and bedding, including twin/twin XL and full/queen comforters and sheets; wearable throw blankets; decorative and study buddy pillows; and weighted plushies. A line of fleece tops and bottoms, sleep pants and sleep shorts complement the range.

In a statement, Corey Robinson, chief product officer of Hollister’s parent company Abercrombie & Fitch Co., said the assortment was a translation of the brand’s details and draws on signature elements, like ditsy florals and stripes. “Each category is intentionally connected through a shared colour, print and pattern that allows customers to style what they wear and how they live in a cohesive way,” Robinson said.

The line, dubbed ‘The Hollister Collection at Target’, will become available via Hollister and Target’s respective e-commerce sites, as well as most Target stores and select Hollister stores. Further products will roll out ahead of the holiday season and in spring 2027.

Deckers Outdoor Corp has lost a high-profile lawsuit against Quince over look-alike iterations of Uggs’ Australian shearling boots.

A federal jury in California found that while Quince’s boots may have infringed on Deckers’ design patent, the patent itself was invalid due to functional, indefinite, and obvious design characteristics.

Deckers had first sued Quince back in 2023 over allegations of infringement for US Patent No. D927,161, a design patent that covers object designs instead of inventions, this one specifically in relation to the Ugg Classic Ultra Mini boot.

This latest decision is another blow to Deckers in this long-running dispute. The apparel group, which also owns Hoka and Teva, had previously brought trademark-related claims against Quince earlier in the legal battle.

Last year, however, a US district judge determined the Ugg design was too generic for trade dress protection.

Quince then filed an antitrust lawsuit against Deckers in February, accusing the Ugg owner of attempting to claim an improper monopoly over basic, category-wide footwear features like rounded toes and thick soles.

Sportswear retail giant Decathlon is doubling down on its employee ownership model by introducing a new scheme that grants eligible employees 2,000 euros in free shares or asset incentives.

Dubbed ‘The Decathlon Seed’, the initiative intends to “reflect the diversity of the group while maintaining a shared principle of fairness and value sharing”. The project allows staff to become “partners, co-owners, and co-responsible contributors to the company’s growth”, a press release explained.

Each employee will receive an allocation worth 2,000 euros, which will vest after three years. During that time, the value of the allocation will evolve alongside the company’s performance.

The launch of the programme, developed over the course of a year, comes as Decathlon celebrates its 50th anniversary. It expands on the company’s long-existing value proposition of sharing success, evident in the more than 56,000 employees that are already shareholders in the business.

Decathlon CEO, Javier López, commented: "With The Decathlon Seed, we are investing in the future by building on one of Decathlon's core values for the past 50 years: sharing the value we create together.

“The initiative is the result of collective work carried out with all our markets and our family shareholders, and reflects our conviction that value is created on the ground and should be shared with those who create it."

Original Penguin is venturing in a new direction. Under brand director Laura Colagrande, the US lifestyle brand is moving towards the accessible luxury sector for its spring/summer 2027 collection, which was unveiled for the first time at Pitti Uomo.

At the Florentine menswear fair, the label is housed in both a showroom and outdoor deck, where a full range of its collections, from Icons to Golf, sits alongside new categories, such as accessories, hats, and bags.

These complement what is described to be a “high-tier” SS27 collection, which features “elevated fabrics, advanced construction, and refined silhouettes”.

The new look comes ahead of major European expansion plans for Original Penguin, bolstered by the opening of a showroom in London earlier this year.

The company is currently eyeing growth in Italy, Spain, Greece, Turkey, Switzerland, Germany, and Scandinavia, while in the UK, its presence has expanded through a partnership with retailers like John Lewis.

Colagrande said the team was specifically plotting the rollout of wholesale and strategic distribution partnerships. She further revealed plans to open flagship stores in London, Madrid, Barcelona, Milan, and Berlin over the next few years.

In a statement, Oscar Feldenkreis, CEO of Original Penguin’s parent company, Perry Ellis International, underlined the brand’s “distinct positioning” and said its return to Pitti served as a “statement of intent about where we’re taking this brand”.

“We are accelerating our European growth and moving Original Penguin into refined contemporary channels while staying true to the craftsmanship and storytelling that have defined us for more than seven decades,” Feldenkreis said.

The chief executive officer of Dr. Martens, Ije Nwokorie, has purchased around 85,600 pounds worth of shares in the footwear specialist, signalling a boost in confidence after the company reported a growth in profit for the fiscal year 2026.

A London Stock Exchange filing showed Nwokorie had snapped up 112,500 ordinary shares at a price of 0.761 pence each.

A separate form further revealed that Nwokorie and Giles Wilson, the company’s chief financial officer, had upped their holdings via the company’s Share Incentive Plan. According to the filing, both Nwokorie and Wilson secured 202 partnership shares at 74.37 pence per share, and further received a matching allocation of 202 free shares.

The news comes after Dr. Martens reported an improvement to performance amid an ongoing turnaround plan designed to pivot the brand from a channel-led to consumer-first operating model.

The company delivered a return to profit growth for the financial year ending March 29, 2026, with pre-tax profit rising 61 percent. A 2.9 percent drop in revenue reflected efforts to reduce clearance activity and wholesale reliance.

Looking ahead to FY27, Nwokorie said there was “more work to do” in pivoting the business as it enters the “scale phase” of its strategy by upping investment and initiating an improved retail strategy.

British retail giant Matalan has narrowed its annual losses and achieved a slight increase in total revenue for the full year, driven by its ongoing strategic transformation, improvements in its product ranges, and strong online performance.

For the 53 weeks ended 28 February 2026, total statutory revenues rose by 0.2 percent to 987 million pounds, up from 985 million pounds in the previous fiscal year. This growth was bolstered by a 10 percent increase in online sales and positive customer reception to core womenswear ranges, which helped the retailer gain volume market share.

Meanwhile, Matalan's loss before tax narrowed by 18 percent to 55 million pounds, down from 67 million pounds in the year prior. This bottom-line improvement was driven by tighter cost management and gross margin gains, which benefited from stronger product margins and reduced shipping costs, despite a discount-heavy UK retail market.

In a statement, Henrik Nordvall, who has helmed Matalan as CEO for just a few months, said: “We delivered strong EBITDA growth and improved gross margin in the period, despite a challenging and highly competitive retail environment, all while continuing to invest in the areas that are driving growth.”

He noted that a key driver of this progress was a "continued focus on delivering everyday style, quality and value for customers”, with positive responses seen towards its product offer and refreshed stores.

FY27 starts strongly as continued momentum expected

Looking forward, the company expects the momentum to continue into the 2027 fiscal year. In the first quarter, Matalan reported a revenue increase of 2 percent year-on-year, alongside market share gains in both volume and value.

Adjusted EBITDA for the quarter rose by 45 percent to 14.9 million pounds. The retailer plans to continue investing in its digital proposition, including the launch of a new mobile application later this year to support its omnichannel growth strategy.

Nordvall added: “While we remain mindful of the wider environment, we have started FY27 strongly, with positive sales growth and continued market share gains – particularly in womenswear.

“What gives us confidence is the scale of opportunity still ahead of us. With a large and loyal customer base, significant untapped omnichannel opportunity and clear evidence that our strategy is working, we believe the long-term growth opportunity for Matalan remains substantial.”

American Exchange Group (AEG) has announced a new partnership with WSG Brands in finalising the acquisition of Allbirds. The group, which revealed plans to acquire the US footwear brand in March, said it would split ownership and capabilities as part of the deal.

While WSG will serve as a key operating and growth partner, AEG will oversee design and manufacturing of the brand’s footwear. The partnership forms part of AEG’s long-term strategy for Allbirds, centred around strengthening the business under an asset-light model for its next phase of expansion.

The group intends to pursue new opportunities across product, retail, distribution, licensing and international markets, combining its expertise with WSG while preserving Allbirds’ "authenticity and values that have made the brand so distinctive”.

AEG’s chief executive officer, Alen Mamrout, noted that while Allbirds had already built a “globally recognised brand by bringing a distinct point of view to the market”, there was a “compelling opportunity to build on that foundation and unlock the brand’s next phase of growth”.

For AEG, specifically, the acquisition was described as an exciting milestone as the group continues to increase its focus on brands that have “strong consumer relevance, differentiated positioning, and significant long-term growth potential”.

WSG, meanwhile, has been diversifying its own portfolio of brands, having most recently acquired lifestyle label Von Dutch, where it is said to have “successfully executed a licensing-led growth strategy” that allowed for distribution, retail, category and market expansion.

In a statement, WSG Brands founder and CEO, Jack Cheika said: "We believe Allbirds represents one of the most compelling brand opportunities in the market today. The brand has built meaningful awareness and consumer affinity around the world.

“Our vision is to preserve what consumers love about Allbirds while expanding its reach into new categories, markets, and partnerships. Having successfully executed this strategy with Von Dutch, we are excited to begin the next chapter of growth alongside AEG."

Financial details of the transaction were not disclosed. The acquisition was secured alongside a consortium of strategic investors, manufacturers, and operating partners. Further announcements are expected in the coming months.

The EU’s Right to Repair (R2R) Directive promotes a fundamental shift toward waste reduction and consumer empowerment – and it’s approaching fast. Member states must transpose requirements into national legislation by July 31, 2026. For fashion and lifestyle brands, this regulatory evolution creates both compliance obligations and market opportunities, with garment repair increasingly a consumer priority.

Understanding the scope of the R2R Directive is essential to develop proactive repair strategies – allowing companies to build lasting customer relationships, establish sustainability leadership and turn regulatory requirements into revenue-generating opportunities.

Ready to turn repair requirements into a competitive advantage? Our expert guide reveals how Right to Repair will affect fashion and lifestyle brands in the coming years.

Your strategic guide to the R2R Directive

This guide provides brands with a foundational overview of repair legislation and implementation frameworks. Our experts break down the regulatory requirements, helping you translate them into smart business strategies that enhance customer retention and operational efficiency.

Inside, we’ll explore:

• Fundamental R2R principles – Understand core Right to Repair regulations governing product design, service availability and consumer access to repair solutions across your product range.

• Business compliance requirements – Navigate specific obligations for fashion brands, including service provision standards, spare part availability and repair information accessibility protocols.

• Legislative landscape – Examine Right to Repair applications across the EU and UK, showcasing diverse market approaches to repair ecosystems and enforcement mechanisms.

Capitalising on the Right to Repair opportunities

Strategic implementation of repair initiatives has the potential to create measurable business value through enhanced customer relationships and market differentiation. Read on to explore how repair requirements can become opportunities for revenue generation and brand loyalty development while maintaining regulatory compliance.

Complete the form below to download your copy of our Right to Repair guide today, or get in contact for a free consultation with a Bleckmann expert.

Disclaimer: The information provided by Bleckmann to third parties is intended for general informational purposes only. While every effort is made to ensure the accuracy and completeness of the information, Bleckmann makes no representations or warranties of any kind, express or implied, about the reliability, suitability, or availability of the information. Bleckmann accepts no liability for any loss or damage arising from reliance on this information. Any use of the information is at the recipient’s own risk.

Spanish fashion and lifestyle brand Ecoalf, a pioneer in promoting circularity and the use of more sustainable materials and processes within the fashion industry, has reported its results for its latest fiscal year. The company, founded by Javier Goyeneche, completed the 2025 financial year with a positive net profit for the first time.

According to information shared by the Spanish company's management, Ecoalf closed its 2025 fiscal year, which ended on February 28, 2026, with total turnover of 64.8 million euros. This figure represents an increase of 11.72 percent compared to the 58 million euros in revenue generated during the previous 2024 financial year.

In terms of profitability, the company reported Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 5.6 million euros, representing a year-over-year increase of 65.7 percent from the 3.4 million euros reported a year earlier. This translates into an EBITDA margin of 8.64 percent on sales and ultimately resulted in a net profit of 0.4 million euros, the first positive net profit in the company's history.

“Ecoalf closed the 2025 fiscal year with the best financial results since its founding, demonstrating that sustainability is not only compatible with business growth but can also become a scalable and profitable business model,” the company stated regarding its 2025 accounts. Management added that “transforming the industry does not require choosing between impact and profitability, but rather redesigning business models so that both can grow together.”

The results, they continued, “also reflect the company's strategic evolution in recent years, increasing the weight of direct channels to build a closer relationship with consumers and a more balanced growth model.”

40 Percent of Sales Generated Through the B2B Channel

Reflecting this evolution during the 2025 financial year, Ecoalf maintained a balanced business model across its distribution and sales channels. The model was slightly led by its wholesale and business-to-business (B2B) operations, which accounted for 40 percent of total sales, equivalent to approximately 25.92 million euros. Physical retail operations represented 38 percent of annual sales, or around 24.62 million euros, while online sales accounted for the remaining 22 percent, totalling approximately 14.25 million euros.

Although the company did not provide a detailed breakdown by market or geography, it highlighted that Ecoalf continued to expand its global retail network throughout the year. This expansion helped strengthen its identity as an international brand, with notable store openings in Biarritz, France; Bolzano, Italy; and Tokyo, Japan. In Spain, the company opened stores in key locations including San Sebastián, Bilbao, Madrid, and Barcelona.

Alongside its commitment to retail and direct-to-consumer channels, the brand also continued investing in what remained its primary revenue stream in 2025. It secured new commercial agreements with leading international multi-brand retailers. Partnerships for the distribution of its collections include prominent department stores such as La Rinascente in Italy, Kastner & Öhler in Austria, and Manufactum in Germany.

First Impact Profit and Loss Account

In an effort to translate the environmental and social value generated by its business model into economic terms, Ecoalf conducted its first Impact Accounting exercise. This resulted in the publication of its first Impact Profit and Loss Account (Impact P&L).

The report is based on a double materiality analysis, assessing both the impact of the company's operations on society and the environment and the influence of environmental and social factors on the business itself.

As a result, 121 impacts, risks, and opportunities (IROs) were identified as relevant to Ecoalf's activities and value chain. Of these, 45 were classified as materially significant, including 26 impacts, 12 risks, and 11 opportunities. These factors will serve as a framework for future business decisions from a long-term perspective.

Ecoalf's first Impact P&L also includes a series of preliminary findings. Among them, the company highlights a net positive impact of 0.02 euros for society and the planet for every euro of sales generated. This compares favourably with the sector benchmark, which reflects a negative impact of -0.06 euros per euro of sales.

“Although these are preliminary results, they point to a very relevant conclusion,” the company emphasised: “the more Ecoalf grows, the better it is for the planet.”

The company added: “Traditionally, company accounts have only reflected financial performance, leaving out the impacts generated on society and the environment. Impact Accounting seeks to incorporate these aspects into the same language used for business and investment decision-making.”

By integrating business performance with impact metrics, Ecoalf aims to strengthen decision-making, improve dialogue with investors and financial institutions, anticipate regulatory requirements, and continue demonstrating that sustainability can scale.

“The future competitiveness of companies,” the company concluded, “will depend not only on revenue growth but also on their ability to create measurable value across financial, environmental, and social dimensions.”

The Paris Commercial Court ordered the opening of receivership proceedings for the company Coperni on June 11, 2026. The observation period will expire on December 11, 2026.

The date for the suspension of payments was set for May 29, 2026. Creditors have a two-month period from the publication of the judgment in the BODACC to file their claims with the court-appointed administrator.

According to Coperni, cited by Vogue Business, the cash flow difficulties do not stem from a slowdown in commercial activity but from the non-payment of sums owed by Tomorrow Ltd., its majority shareholder and exclusive distributor.

Observation period open until December 2026

Since the acquisition of Tomorrow by the Italian company Progetto 11 in March 2026, Coperni's founders, Arnaud Vaillant and Sébastien Meyer, have reportedly been seeking to regain control of their brand. According to Vogue Business, discussions are still ongoing.

Tensions with the shareholder have reportedly already had operational consequences. Coperni notably decided against holding a show during Paris Fashion Week in March 2026.

During the observation period, which runs until December 11, 2026, the company will continue its activities under the assistance of the court-appointed administrator. This phase is intended to establish an economic and financial diagnosis of the company and to explore various options, including a recovery plan, the entry of new investors, or a potential sale.

The Digital Product Passport (DPP), part of the EU’s Ecodesign for Sustainable Products Regulation (ESPR), will create a standardised system for sharing comprehensive product data, from information about durability and recyclability to recycled content and environmental footprint.

“It is emerging as one of the most transformative regulatory and business shifts the fashion industry has faced in decades,” agree global trend forecaster Future Snoops (formerly Fashion Snoops) and enterprise SaaS (Software as a Service) platform GreenStitch in their joint report “Digital Product Passports: Designing for Future Regulation, Now.”

“While many organisations still see DPPs primarily as a compliance or IT initiative, the reality is far broader: DPPs will fundamentally reshape how products are designed, sourced, manufactured, marketed, sold, repaired, resold and valued across their entire lifecycle,” they emphasise.

The clock until implementation is ticking

Given that textile products placed on the EU market will require standardised digital product records linked to physical products only from mid to end 2029, many brands are under the impression that they still have time. But this is a misconception. “This is no longer a future watch item and action is required now. Brands should assume that DPP readiness will require robust product data, better design, upstream supplier engagement and efficient digital infrastructure able to support traceability, product transparency and lifecycle information at scale. In most cases, this will take 18-24 months to establish at scale.”

”The brands that win will be the ones that build for both compliance and commercial value from day one.“

In addition, the EU’s anti-greenwashing regulation (Empowering Consumers for the Green Transition, ECGT) is coming into force from September 2026, requiring brands to provide product-level data that is credible, structured, traceable and defensible. “Companies that wait until the 2028 Delegated Act risk entering the compliance window with fragmented data, disconnected systems, inefficient operations and significant compliance exposure,” warn Future Snoops and GreenStitch.

Three strategic directions

Growth, design decisions and digitalisation are the strategic perspectives to act on now. DPPs can create the digital product infrastructure needed to power resale, repair, authentication, customer engagement, warranty services, smarter product development and stronger sustainability claims, thus providing growth, efficiency and competitive edge. “The brands that win will be the ones that build for both compliance and commercial value from day one,” predict the organisations.

Some of the most critical drivers of DPP success are product design decisions as they determine material choices, fibre blends, trims, chemical treatments, construction methods and repairability. Thus, up to 80 percent of a product’s future compliance, circularity and commercial value is determined at the design st age.

Lastly, a company’s ability to digitise will determine how fast it can scale. DPPs will create massive data complexity across the fashion value chain, making manual management impossible. “Success will depend on software platforms, systems integration, automation and AI to manage and scale hundreds of product-level data points across materials, chemicals, suppliers, manufacturing, logistics and end-of-life pathways,” caution the report authors.

How can brands get started?

Future Snoops and GreenStitch recommend a five-step approach to DPP readiness. First, there needs to be a cross-functional DPP transformation team including design, sourcing, sustainability, IT, legal, finance, operations and marketing. The team should undertake a readiness gap assessment and audit all active sustainability marketing claims ahead of the ECGT directive enforcement in September. Unsubstantiated claims should be removed.

Second, brands should approach DPP design with business value in mind, not just compliance alone. “Build DPP use cases for resale, repair, authentication, aftercare and consumer engagement from the outset. Integrate DPP data requirements into new product development from the design stage, adding scoring tools to material and product approval processes,” advises the report.

Third, Tier 1, 2 and 3 supplier onboarding should start immediately. This includes assessing supplier data readiness early on, given that upstream traceability and data capture will be one of the most time-consuming elements of implementation. “Fabric mills, dye houses and material suppliers will likely create a big dat a bottleneck,” cautions the report.

The fourth step is to build the digital backbone, which includes a revision of existing systems like product lifecycle management (PLM), enterprise resource planning (ERP), lifecycle analysis (LCA) and traceability. This should identify any gaps in interoperability, data quality and scalability. “Prioritise digitalisation, system integration, automation and AI-enabled workflows to efficiently manage data,” advise Future Snoops and GreenStitch.

Last is the pilot phase, which is also a chance to learn and ultimately scale. Future Snoops and GreenStitch recommend to launch three to five product pilots in 2026 and 2027 to test data flows, technology integration, supplier readiness and consumer engagement. A roadmap covering governance, systems, process changes, AI enablement and readiness milestones will help, as well as monitoring evolving DPP technical standards to refine implementation plans as requirements are confirmed.

What kind of data will be required?

While the details for DPP data fields are still being worked out, core performance indicators or so-called design options (DOs) have emerged: The robustness score (DO1) assesses physical robustness of a garment after washing while the recyclability score (DO2) looks at blend composition and construction, both on a scale of 1 to 10. DO3, recycled content, determines the percentage of recycled fibre by mass and distinguishes between open-loop and closed-loop sources. DO4 looks at the carbon/environmental footprint of manufacturing (Tier 1– 3), likely including greenhouse gas emissions/carbon, energy, water and water pollution. Tier 4 will be likely excluded from Phase 1.

Other areas include substances of concern (SoC) like hazardous chemicals, microfibre risk with an initial qualitative classification and a potential move toward quantitative shedding metrics at a later point, supply chain traceability with mandatory Tier 1 facility identifiers and Tier 2-targeted, fibre composition and care, use and end-of-life guidance with contact details and instructions for repair services voluntary in this phase.

The advanced phase with a broader environmental and social data scope will start in 2033, requiring primary product specific LCA and full Tier-2 traceability. Social and due diligence fields are expected to enter the scope, as well as a quantitative microfibre shedding rate. The full circular phase will start from 2036 and be operational across the EU with real-time lifecycle tracking, cross-border data exchange and secondary data markets.

“A digital product passport is not just a compliance checkbox, it is the infrastructure for trust. When a brand can show, at the SKU level, exactly where a fibre came from, what its carbon footprint is, and how it should be handled at end-of-life , that product becomes legible to every stakeholder in the value chain. The brands that start building this data foundation today will already be ahead when DPP becomes a law within the next two to three years,“ sums up GreenStitch CEO Narendra Makwana.

How will consumers engage?

Current research, for example by Certilogo, shows that almost half (49 percent) of consumers are very or somewhat familiar with DPPs, more than previously thought. Transparency is the most appreciated benefit, with close to three fourths of consumers (71 percent) believing that DPPs will increase their trust in brands. “This trust comes from data, not claims, as consumers grow tired of green terms and far-reaching goals that amount to little,” states the report.

According to research by Authentique, a majority (90 percent) of consumers especially looks for material and composition, driven by both health and environmental considerations, followed by a certificate of authenticity (87 percent) from brands in view of counterfeiting concerns, especially when it comes to luxury products. Aftercare and repair instructions are third most likely to be used by consumers seeking to extend the lifetime of prized possessions.

Resale is perhaps “the most interesting element of DPPs for consumers” according to the report as 82 percent of consumers are looking to access product details and original imagery via DPPs. This aligns with data from Vogue Business according to which more than half (56 percent) of consumers would be more likely to purchase second hand items when a DPP is available. Warranty, sustainability data and rewards is also information that consumers would likely look for.

In terms of technical aspects, consumers are used to scanning QR codes, not only for fashion items. According to research by QR code management and marketing platform QRCodeChimp, close to half (44.6 percent) of global internet users scan at least one QR code per month and almost two thirds (64 percent) of shoppers have scanned a product QR code in-store. However, doing so requires a smartphone, internet access and digit al literacy to navigate QR inter face s and interpret data. “Elderly populations, lower-income consumers and those in digitally underserved regions lack one or more of these prerequisites. These communities are often the most impacted by fast fashion,” cautions the report.

Who has successfully implemented the DPP?

Brand case study: Nobody’s Child

London-based womenswear brand Nobody’s Child started in 2015 with the aim of improving its impact through design. More than half (51.4 percent) of all garments are designed with monomaterial fabrics and all styles are designed to be worn and re-worn. The brand’s partnership with the Reskinned platform facilitates easier recycling and resale.

DPP piloting began in 2023 with 25 products initially; currently, the DPP has been implemented on more than 1,500 stock keeping units (SKUs). Full collection implementation is planned for fall/winter 2025. The B Corp certified brand is currently working towards Tier 4 traceability across all collections, while finding ways to use DPP insights beyond compliance.

“Getting to where we are today hasn’t alway s been straightfor ward... [but]our approach remains the same as our overarching sustainability strategy: progress over perfection,” comments sustainability lead Philippa Grogan.

Among the brand’s key learnings is that good data and a strong, harmonised data architecture will create a solid foundation while supporting suppliers throughout the transition is also essential to success, as well as a cross-functional DPP task force, early adoption and scaling beyond pilots.

Supplier case study: Sutlej Textiles & Industries Ltd.

As one of India's largest integrated textile manufacturers, Sutlej Textiles & Industries Ltd. produces a wide range of spun yarns and fabrics for global brands across the UK, Europe and beyond. The company was committed to sustainability but lacked verifiable product data to proof it, hence decided on implementing the DPP for 75 yarn and fabric products through a hybrid approach: While GreenStitch enabled LCA methodology, DPP creation and regulator y tracking, Sutlej's own systems provided the manufacturing data backbone. It took just one month from kick-off to 75-product DPP coverage. Looking ahead, Sutlej plans to expand from gate-to-gate to cradle-to-gate LCA, broaden product category coverage and deepen supplier traceability.

“A Digital Product Passport is not a compliance document but a commercial argument. When environmental data sits next to price and lead time, sustainability stops being a cost and becomes your competitive advantage, ” states Sutlej CEO Ashish Kumar in the report.

A key recommendation for anyone starting out is to fix the data first before building passports as the DPP is only as reliable as its underlying data infrastructure. Another learning is to view the DPP as an analytical engine that provides operational insight, not just transparency. As seen on the brand’s side as well, ownership across departments and functions is key. In addition, sector-specific expertise matters as generic ESG platforms cannot replicate the process-level understanding that textile-specialist partners bring to the table. Last but not least, data reluctance is a trust problem, not a capability problem. Phased onboarding and clear data-use agreements can increase supplier engagement.

Ovs spa reported net sales of 381 million euros in the first quarter, an increase of 7 percent compared to the same period in 2025. Adjusted EBITDA jumped by 27 percent to 35.7 million euros.

During the period, the EBITDA margin on sales grew from 7.9 percent to 9.4 percent.

All major banners and brands performed excellently, with positive results in every product segment, the management explained in a note. Womenswear collections continue to see double-digit growth.

“The integration of Goldenpoint is proceeding excellently,” the company explained.

On a consolidated basis, net sales reached 397 million euros, an increase of 12 percent compared to the same period in 2025, with an adjusted EBITDA of 29.4 million euros.

In the quarter, the operating cash profile showed an improvement of 7.5 million euros. As of April 30, 2026, adjusted net financial debt was 260.6 million euros, with a leverage ratio further improving compared to April 30, 2025.

“In the quarter, the market was positive, with growth of around 2 percent. However, all of the Ovs group's main banners and brands experienced much higher growth, highlighting the increasing strength of our commercial positioning and the correctness of our product choices. Within the organic perimeter, Ovs and Upim grew by 7 percent and 9 percent, respectively. Stefanel achieved double-digit growth, reaching break-even during the period, which demonstrates a strong acceleration in its relaunch journey,” emphasised CEO Stefano Beraldo.

“The positive top-line performance recorded to date leads us to look with optimism at the remainder of the year. This is combined with the improved quality perception of the Ovs banner and the appreciation for our house of brands strategy. The strategy is particularly characterised by the excellent performance of Piombo and Les Copains, as well as all our other brands,” the management added.

CEO interview

Mustang returns to Pitti Uomo. Following its debut in January, the German denim brand now aims to establish concrete partnerships and drive its international expansion. In an interview, CEO Andreas Baur discusses wholesale strategy, product development and his goals for 2026.

You exhibited at Pitti Uomo for the first time in January and are now returning. What are your expectations for the trade fair?

Our first participation in January was an important step for Mustang. The quality of the conversations and the international interest clearly confirmed that Pitti Uomo is the right platform for us.

This time, our focus is on following up on these initial contacts, converting interest into concrete partnerships and positioning Mustang as a modern European denim and lifestyle brand with clear commercial relevance.

Which markets are you looking to enter?

Our goal is to continue to strategically expand Mustang's international presence. We are looking closely at key European markets where denim remains commercially strong and where Mustang's positioning as an authentic European denim brand resonates clearly.

At the same time, we are exploring selected international growth markets with the right partners. The goal is not to be present everywhere, but to grow where Mustang can be relevant, visible and profitable.

What is your overall expansion strategy in the wholesale sector?

Wholesale remains a central pillar of our growth strategy. We see considerable potential in developing high-quality international wholesale partnerships, especially with partners who understand the brand and can present Mustang at the point-of-sale in the right environment. Shop-in-shop concepts are also an important part of this approach, as they allow us to strengthen brand visibility and improve the customer experience. Overall, our strategy is selective and quality-oriented, not purely volume-driven.

Are you also planning to further expand your retail network?

We continue to pursue a disciplined retail strategy. Our focus is not on aggressive expansion, but on optimising the existing network and making targeted investments in locations where we see sustainable profitability and a clear brand impact. For us, every location must contribute both commercially and strategically.

It seems that your own outlet stores also play an important role in this...

Yes, outlets are a relevant part of our omnichannel model. They offer customers an accessible entry point to the Mustang brand and allow us to reach a broader audience in a controlled environment.

At the same time, they help us to manage different product channels efficiently. The crucial thing is to maintain a clear balance between our full-price channels and the outlet business, ensuring that each channel supports the brand and its positioning.

How has the year been for you so far?

The market environment remains challenging, especially as consumer sentiment in many markets continues to be subdued. Against this backdrop, we have further stabilised the business, improved efficiency and strengthened our operational base. We also continue to find that our core categories and general brand direction remain relevant to consumers and partners.

Overall, it is a year of consistent implementation and preparation for the next phase of growth.

Which products are currently selling particularly well?

Denim remains the clear core business and continues to define Mustang. We are also seeing solid performance in complementary categories such as T-shirts, sweatshirts, shirts and jackets. This confirms our development from a denim specialist to a broader lifestyle brand that remains connected to its roots.

How is the womenswear collection set to develop in the coming season?

In womenswear, we are seeing continued demand for a balanced mix of modern silhouettes and wearable fits. The focus is increasingly shifting to modern straight and wide-leg cuts, while slim-fits remain part of the range and skinny silhouettes are being deliberately scaled back.

We are refining the collection with updated styles; carefully crafted details; innovative fabric elements; and a higher-quality label concept. The aim is to offer denim that feels modern, feminine and easy to wear.

And for menswear?

In menswear, the focus remains on reliable fits, high quality and everyday comfort. A particular highlight is our newly developed Travel Denim collection, which includes jackets, shorts and long denim trousers. The pieces are made from exceptionally soft and comfortable denim and are designed for a mobile lifestyle. With their lightness, flexibility and functional comfort features, they are ideal for travel, long days on the go and effortless everyday life.

What other goals and plans do you have for Mustang?

After significant operational progress, we are now clearly in the next phase: sustainable, profitable growth. This includes expanding our international business, further developing our e-commerce and strengthening Mustang's positioning as a modern European denim and lifestyle brand.

Our heritage gives us credibility. Our focus is clearly on making the brand more relevant to today's consumers.

How do you want to close 2026?

Our clear priority for the rest of 2026 is to maintain stability in a challenging market while laying the foundations for scalable growth.

We will continue to strengthen our core denim business, improve profitability and develop selected growth opportunities in key markets. The aim is to end the year with a stronger operational base, a sharper brand profile and good momentum for the next phase of growth.

This interview was conducted in writing.

Rottendorf - S.Oliver Group announced on Tuesday the formation of a new joint venture with the Bischofswerda, Saxony-based retail company Private Textiles Holding GmbH (PTH Group).

The new joint venture, Brand Collective GmbH, will be responsible for “the takeover, continuation and strategic repositioning” of retail spaces previously operated by Catches, a multi-brand concept owned by the PTH Group.

“Specifically, around 18 locations will be transferred to the joint venture, rebranded and will continue to operate under the S.Oliver Group's brand and distribution concept in the future,” explained the company, which includes labels such as S.Oliver, Comma, Liebeskind Berlin, Copenhagen Studios and Lala Berlin. The launch is planned for the third quarter of this year.

S.Oliver to tap into growth potential in travel retail and East Germany

The agreement enables the S.Oliver Group to “specifically accelerate its market expansion, take advantage of existing location opportunities at short notice and tap into additional growth potential – especially in the travel retail segment and in East Germany,” a statement read.

Johannes Rellecke, one of the co-CEOs of the S.Oliver Group, explained the plans. “With Brand Collective GmbH, we are creating a scalable platform to quickly and efficiently occupy attractive retail locations and specifically expand our market penetration,” he explained in a statement. “The partnership with PTH allows us to combine operational excellence with strong brand management and thus capitalise on new growth opportunities in brick and mortar retail.”

Madrid – Alongside the presentation of its 2025 financial results, for the fiscal year running from March 1, 2025, to February 28, 2026, Tendam's chairman and chief executive officer, Jaume Miquel, has outlined the key points of the company's new Strategic Plan. He also detailed the terms and objectives for its execution. The company is accelerating this process starting this year, 2026.

Further to the information on the year-end results reported earlier, coinciding with the presentation of the 2025 results, Jaume Miquel held a series of meetings with journalists from Spanish general and financial media outlets, including Expansión, Cinco Días, El Confidencial and El Español. In these brief interviews, the chairman and chief executive officer of the owner of Cortefiel, Springfield and Women’secret discussed key aspects of the new strategic plan being implemented by the Spanish fashion multinational. The approach was more informal than what is typical for a company of Tendam's size and aspirations.

Miquel highlighted that this roadmap formed the basis of the “successful and orderly” transition, which concluded in July 2025 with the acquisition of 67.91 percent of its capital by the Emirati group 2PointZero, formerly known as Multiply, for approximately 880 million euros. He emphasised that this strategic plan was agreed upon as the business plan to be executed following 2PointZero's entry. The agreement was made between the new majority investor; the investment funds CVC Funds and PAI Partners, which remain as minority shareholders; and Tendam's management, led by Miquel.

With this context, everything discussed by Tendam's chairman and chief executive officer during his various meetings yesterday can be summarised into six main sections. These sections cover investment and shareholder remuneration commitments for this year; growth objectives for the physical channel; objectives for the online channel; diversification of its commercial offer; international business expansion; and its forecasts for the year-end and the medium term. We will now develop each of these areas in detail.

Investments of 100 million euros for 2026

Starting with the strategic area of capex investments, Tendam has maintained an investment level of between 40 and 50 million euros annually in recent years. This figure has been doubled for the current fiscal year to around 100 million euros, a clear sign of the acceleration in the execution of its new strategic plan in 2026. These committed funds will be used to drive the development and strategies of this roadmap, focusing on bringing the company closer to its short and medium-term objectives.

Additionally, in financial terms, Miquel highlighted the net financial debt of 304.3 million euros with which Tendam closed the 2025 fiscal year. This debt represents a financial leverage ratio of 1.32 times net equity, in line with the company's goal of maintaining it between one and 1.5. This rate will allow the company to establish its new shareholder remuneration policy, introducing a dividend based on the previous year's results equivalent to 60 percent of the net profit. In 2026, this remuneration commitment will lead to 2PointZero, CVC Funds and PAI Partners sharing approximately 67.2 million euros of the 112 million euros net profit recorded by Tendam in 2025.

Franchise absorption and 2,500 stores by 2030

Focusing on its performance by distribution and sales channels, starting with the physical channel, Tendam added 43 net new stores to its retail network in 2025, comprising 29 own stores and 14 franchises, ending the year with a total of 1,844 points of sale. The company has already surpassed this pace at the start of 2026. In the first quarter, it added 42 stores to its network, including 34 own stores and eight franchises, out of the more than 100 stores committed for this fiscal year. This means Tendam has added only one less store at the beginning of this year than it did throughout the entire 2025 fiscal year, again highlighting the company's acceleration in executing its new strategic plan.

Following this rapid progress in the first quarter of the year, the period from March 1 to May 31, Tendam currently has approximately 1,886 active stores. Another 58 stores are set to be added this year, which would leave the company ending 2026 with a network of about 1,944 points of sale. The objective is to increase this number by 556 stores to reach 2,500 open stores by 2030, of which 700 would be operated as franchises and 1,800 would be directly managed. This would involve adding 600 more own stores to the nearly 1,200 the company currently operates. This goal demonstrates a stronger and more decisive commitment to a direct-to-consumer sales model. Tendam's CEO also mentioned that the company is considering a selective buyback of franchises. This process could even occur at a market-wide level, involving the absorption of operations or the creation of joint ventures to allow the company greater control over its operations in key countries.

More omnichannel, and more third-party brands

Regarding the online channel, Tendam appears more than satisfied with its digital performance. In 2025, the group's online sales grew by +12.9 percent, accounting for 17 percent of the company's total sales. This growth occurred while the return rate remained at 26 percent, compared to the industry average of 35 percent, as cited by Miquel.

Key factors contributing to this strong performance, which the company will continue to focus on, include its omnichannel approach. This strategy has resulted in 28 percent of digital sales being made in its stores; 54.8 percent of online purchases being collected in-store; and 82.3 percent of online purchase returns being processed at the group's brand outlets. Additionally, loyalty clubs with over 27.6 million members help reduce return rates because the “member” knows their size well. The company also promotes a commercial offer more aligned with a “slow fashion” model than “fast fashion,” encouraging more considered purchases over impulse buys.

This stance needs to be analysed to see how it aligns with the widespread discount policy that Tendam's main brands maintain throughout the year. In any case, these brands are also seeing their sales operations, both physical and online, boosted by the inclusion of third-party brands in their stores and platforms. This is a risky move, currently involving some 211 third-party brands. Miquel only plans to limit this if cannibalisation of the group's own brands is detected. He assures that this has not happened to date, so the company will continue to supplement its offer with third-party brands.

Acquisition of a new brand for 2026

In line with 2PointZero's ambitions to make Tendam the key element of its new retail vertical, the Emirati group's intentions to expand its fashion portfolio through new acquisitions to fuel inorganic growth are well known. Tendam's chairman and chief executive officer has confirmed that the company expects to make its first acquisition under the 2PointZero umbrella in 2026, or at least to announce it before the end of the year.

In this regard, Miquel reiterated that the company's objective is to strengthen its portfolio of own brands by acquiring Spanish and/or foreign companies that are financially solvent and not in “distress” or at risk of default. This contrasts with the case of Hoss Intropia, which was acquired during its liquidation process in 2019. The aim is to acquire firms that can gain momentum with the support of the Spanish fashion multinational, following the example of Slowlove, the brand by Sara Carbonero and Isabel Jiménez acquired by Tendam in 2021. That acquisition, however, would not fully align with the new purchasing policy guidelines. It is added that Tendam's goal for its first acquisition under 2PointZero is to secure a more established, medium-sized firm with a mid-range profile, which is neither a “fast fashion” nor a luxury brand. From there, the focus will shift to larger companies.

Completing the information on this matter, Miquel ruled out the company launching any other own brand created “in-house” for now. This diversification strategy previously led Tendam to strengthen its portfolio after the pandemic outbreak with the creation and launch of the brands High Spirits, Dash and Stars, OOTO and Hi&Bye, with Springfield Kids as the latest launch. The strategy now is to consolidate by giving each of its native brands its own “space” in the market. To this end, and in line with the strategy to reach 2,500 stores by 2030, the hundred new stores committed for 2026 will open mainly under the names of Tendam's newer and currently smaller brands, such as Hoss Intropia, Slowlove, OOTO or Dash and Stars.

Larger international footprint

Regarding its performance by market, Tendam's main ambition through the implementation of its new strategic plan is to sustainably and consistently boost its international footprint. This currently accounts for 440.19 million euros, or 30 percent of the 1.47 billion euros in revenue the company generated in 2025. They plan to increase this percentage to between 40 and 50 percent by 2030, as the group's brands drive growth outside of Spain and enter new markets.

On this subject, following its entry into Romania in 2025, the company does not rule out entering a new market in 2026. However, its growth strategies will primarily focus on Mexico, in addition to Spain, as well as the strategic markets of Portugal, Hungary and the Balkan region. Regarding the Middle East, a priority region for the company following the entry of the Emirati group and where Tendam operates through some 200 points of sale, Miquel claims performance has been better than expected since the outbreak of the conflict in Iran. This has not prevented the company from recording a drop in sales in the region, where its growth strategies are on hold. They hope to reactivate these plans as soon as the situation stabilises.

Doubling sales and profits by 2030

Finally, after a first quarter in 2026 where the company achieved sales of 288.2 million euros (+10.4 percent) and an EBITDA of 62.7 million euros (+11.9 percent), Tendam expects to close the fiscal year with a revenue increase of between +8 and +10 percent. This growth will keep the company on track to meet its medium-term objectives, which involve doubling the sales volume and profitability recorded at the end of 2025 by the 2030 fiscal year. In the five years until then, Tendam's forecast and goal is to boost its turnover to nearly 2.9 billion euros and its net profit to around 220 million euros.

The US global retail platform Vince Holding Corp. (VNCE) has reported its financial results for the first quarter ended May 2, 2026. Net sales for the company increased 10.5 percent to 64.04 million dollars compared to 57.93 million dollars in the first quarter of fiscal 2025.

The year-over-year (YoY) growth was driven by a 15.6 percent increase in the direct-to-consumer (D2C) segment, which reached 31.97 million dollars. The wholesale segment also experienced growth, with sales increasing 5.9 percent to 32.07 million dollars.

Operating losses decrease as margins improve

Gross profit for the quarter rose to 32.39 million dollars, representing 50.6 percent of net sales, compared to 29.16 million dollars, or 50.3 percent of net sales, in the prior year period. The gross margin expansion was supported by approximately 130 basis points from higher pricing and 100 basis points due to lower discounting, which helped offset the impact of higher tariffs.

Selling, general, and administrative expenses were 35.04 million dollars, or 54.7 percent of sales, compared to 33.60 million dollars, or 58.0 percent of sales, in the first quarter of fiscal 2025. Loss from operations narrowed to 2.65 million dollars from a loss of 4.44 million dollars in the same period last year.

Net loss for the company decreased to 2.10 million dollars, or 0.16 dollars per share, compared to a net loss of 4.80 million dollars, or 0.37 dollars per share, in the first quarter of the previous fiscal year. Adjusted EBITDA was minus 1.13 million dollars, improving from minus 3.03 million dollars YoY.

Full year guidance raised on strong momentum

The brand ended the quarter operating 54 corporate stores, reflecting a net decrease of four retail locations since the first quarter of fiscal 2025. Total borrowings under debt agreements stood at 29.13 million dollars at the close of the period, with 31.20 million dollars available under its revolving credit facility. Net inventory increased to 70.81 million dollars, including 4.50 million dollars in higher carrying costs related to tariffs.

Vince Holding Corp. chief executive officer, Brendan Hoffman, stated that the results demonstrate accelerated business momentum across both channels. Hoffman noted that strategic investments in customer experience contributed to double-digit growth in new and reactivated customers while supporting full-price selling.

For the second quarter of fiscal 2026, the company expects net sales to increase between 10 percent and 12 percent compared to the prior year period. For the full fiscal year 2026, the group has raised its outlook, now forecasting a net sales increase of approximately 7 percent to 8 percent YoY.

Canadian specialty apparel retailer Reitmans (Canada) Limited [RCL] has announced its financial results for the first quarter ended May 2, 2026, revealing progress in narrowing its net loss amid an ongoing strategic transformation.

Net revenues for the Montreal-based company grew 0.8% to 160.1 million Canadian dollars during the quarter, compared with 158.9 million Canadian dollars for the first quarter ended May 3, 2025. This growth was achieved despite operating seven fewer stores year-over-year. Net revenues from brick and mortar retail stores increased by 2.9%, driven by locations not included in comparable sales that benefited from investments in new store concepts.

Improved retail performance

Comparable sales, which encompass both store and e-commerce net revenues, ticked up by 0.3%, primarily supported by higher sales dollars per transaction. Gross profit remained steady at 89.1 million Canadian dollars compared to 88.5 million Canadian dollars in the previous year, while the gross profit percentage held completely stable at 55.7%.

The company successfully reduced its selling, general and administrative expenses by 2.2% to 96.9 million Canadian dollars, down from 99.1 million Canadian dollars. This reduction was primarily achieved through workforce reductions executed as part of its strategic turnaround plan. Consequently, the net loss for the quarter narrowed by 37.0% to 6.3 million Canadian dollars, compared to a net loss of 10.0 million Canadian dollars in the first quarter of the prior year.

Strategic transformation gains traction

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) showed a significant 49.1% improvement, rising by 5.2 million Canadian dollars to negative 5.4 million Canadian dollars from negative 10.6 million Canadian dollars.

Andrea Limbardi, president and chief executive officer of RCL, stated: “RCL delivered an improved first quarter compared to last year, with solid progress shown across the business despite a challenging economic environment.” Limbardi noted that the rise in fuel costs continues to strain consumers, but noted that investments in the store network are yielding results.

As part of the optimization of its retail footprint, the company unveiled a new concept flagship store for its Reitmans banner at Carrefour Laval, near Montreal. Additionally, after the quarter-end, the company-owned banner RW&CO completed a transformation of its Toronto Eaton Centre location. The updated store has exceeded corporate expectations since its reopening on May 29, 2026.

As of May 2, 2026, the retailer maintained working capital of 126.0 million Canadian dollars, including cash reserves of 101.9 million Canadian dollars. The group reported no significant long-term debt outside of lease liabilities, with no amounts drawn from bank credit facilities. During the quarter, the business also purchased 235,600 Class A non-voting shares for cancellation under its normal course issuer bid, representing a total cash consideration of 0.5 million Canadian dollars. The company intends to seek regulatory approval to renew this share repurchase programme when it expires in August 2026.

RCL operates 387 stores across Canada under three distinct retail banners, consisting of 217 Reitmans locations, 85 PENN. locations and 85 RW&CO locations.

The new Champion Athlete Managing Partner (CHAMP) investment fund, a joint partnership launched in April 2026 between L Catterton, Patricof Co and more than 250 athletes, has announced a strategic investment in Rhoback, an American active lifestyle apparel brand.

The move marks CHAMP’s first partnership and will see the fund joining forces with Rhoback as a strategic partner to help accelerate the brand's next phase of growth, working alongside the company's co-founders, Kevin Hubbard, Kristina Loftus, and Matthew Loftus, who retain control of the business and will continue to guide its long-term vision and day-to-day operations.

In a statement, Rhoback, known for its distinctive dog logo and premium apparel, said it would use the investment to continue to expand beyond its direct-to-consumer roots, as the company looks for its first retail location. It will also support its rapidly expanding wholesale and collegiate licensing businesses, as Rhoback was an early leader in Name, Image and Likeness (NIL), partnering with many of college football's most recognisable student-athletes.

Champion Athlete Managing Partner to help accelerate Rhoback’s next phase of growth

Founded in 2016 by friends Kevin Hubbard, Kristina Loftus, and Matthew Loftus, Rhoback has grown from a bootstrapped start-up selling shirts from a wooden camper into one of the fastest-growing active lifestyle brands in North America. The company has remained profitable since its inception and has never previously raised outside capital. The brand currently has more than two million customers worldwide, has shipped over 3.5 million orders, and employs more than 100 people. Revenues in 2025 topped 150 million US dollars.

Commenting on the investment, Rhoback co-founders said: “When we started the company, we had no apparel experience and no outside funding, just a passion to create the highest quality apparel that kept up with our active lives. We've grown one customer at a time by creating products we believe are the best on the market and fostering a community around our 'Crave Activity' lifestyle.

“We weren't looking for capital; we were looking for the right partner. CHAMP brings together unmatched expertise across consumer brands, sports, and culture, and we're excited about what we can build together while staying true to what makes Rhoback unique."

Scott Dahnke, global chief executive of L Catterton, added: "Rhoback represents exactly the kind of brand CHAMP was designed to support. The company has built a distinctive brand through premium products, authentic storytelling, and a deeply engaged community.

“We believe Rhoback is well-positioned to benefit from CHAMP's unique combination of consumer expertise and athlete engagement."

CHAMP investment fund: Turning athletes into business owners rather than just paid spokespeople

The CHAMP partnership was designed to pursue brands across the consumer landscape, which could benefit from authentic athlete involvement to accelerate awareness, deepen consumer engagement, and unlock new avenues for growth. With the fund stating it is particularly oriented toward companies “with strong underlying brand affinity but untapped visibility,” where its athletes could help activate growth.

The concept also represents a distinctive new athlete ownership model, where athletes participate directly alongside L Catterton and Patricof Co as co-owners of portfolio companies “to create powerful and authentic alignment of interests that differs meaningfully from traditional athlete-brand relationships”. So, rather than just being the face of a brand, the athletes will be true business owners.

Athletes invested in CHAMP include Cade Cunningham, Cooper Flagg, Kevin Durant (35V), Tyrese Haliburton, Azzi Fudd, Cameron Brink, Sophie Cunningham, Dak Prescott, Ja'Marr Chase, Joe Burrow, Justin Jefferson, Bobby Witt Jr., Corbin Carroll, Logan Webb, Mike Trout, Tarik Skubal, Nacho Figueras, Patrick Cantlay, and Livvy Dunne.

Commenting on the investment fund, Dahnke, said: "Consumer behaviour is undergoing a profound and secular shift driven by the convergence of culture, technology, and media. Our proprietary research shows that athletes are among the most trusted and influential voices to emerge in this landscape.

"This partnership reflects a thoughtful extension of L Catterton's consumer investing approach. By combining our global investment platform and deep understanding of the consumer with Patricof Co's athlete relationships, CHAMP seeks to execute a distinctive approach to partnering with consumer brands and a systematic framework for translating cultural relevance into sustainable growth while preserving the rigorous investment diligence for which we are known."

Mark Patricof, founder and chief executive of Patricof Co, added: "We have spent years building trust-based relationships with some of the world's most prominent athletes, and observing that those athletes can drive better outcomes when they have skin in the game.

“CHAMP is the institutionalisation of these collective insights. We believe that partnering with L Catterton, a firm that shares our conviction and brings deep consumer investing experience, enables us to take our demonstrated outcomes to an institutional platform scale."

Debenhams Group, the British retail group formerly known as Boohoo Group, has announced that the year to February 28, 2026, was “a year of significant and successful transformation” for all its brands, but especially PrettyLittleThing, which returned to profit.

In its audited results, Debenhams posted adjusted EBITDA of 53.3 million pounds for the year, up 35 percent year-on-year, adding that every brand it owns, Boohoo, BoohooMan, PrettyLittleThing, Karen Millen and Debenhams, were profitable at EBITDA level.

Group revenue fell 24.7 percent to 917 million pounds during the year, which the group notes reflects its decision to transition towards the higher-margin marketplace model, while gross merchandise value (GMV) before returns declined 21.6 percent to 1.82 billion pounds year-on-year, due to the business prioritising driving profitable sales, explains the retail group.

While sales dropped, the retail group did narrow its losses, reporting loss before tax dropping by 69.2 percent to 108.6 million pounds, reducing from 326.4 million pounds a year earlier. While operating costs reduced 28.2 percent to 415.4 million pounds, reflecting warehouse consolidation into Sheffield, which saved 33 million pounds, the migration to a single technology platform, saving 38 million pounds annually, and renegotiated over 150 contracts, saving 35 million pounds.

Debenhams Group reports 35 percent increase in earnings as “all brands profitable”

Dan Finley, group chief executive officer of Debenhams Group, describes the turnaround as being “firmly on track,” and continuing at “pace” as FY26 marked the completion of the first year of the group’s multi-year turnaround strategy.

At the heart of the transformation was the major turnaround at PrettyLittleThing, which returned to profitability, from a 1-million-pound loss in FY25 to a 14-million-pound profit in FY26. The group also reported that Debenhams' brand continued to “go from strength to strength,” delivering double-digit growth with GMV up 11.6 percent to 730 million pounds, making it the largest brand in the group.

The group also added that its marketplace model now represents 34.1 percent of total GMV, up from 23.3 percent last year, with marketplace GMV increasing 14.9 percent to 620.4 million pounds, reflecting the group's continued scaling of the capital-lite model.

Looking ahead, Finley states that the group’s focus now “shifts to growth,” adding that Debenhams Group returned to growth in the first quarter of FY27, with GMV up 0.5 percent year-on-year, and May GMV was “trading particularly strong” at 8 percent GMV growth, with trading in June continuing “to be strong”.

Debenhams Group adds that it expects a double-digit improvement in adjusted EBITDA for FY27, and is on track to deliver 100 million pounds worth of cost savings over the period.

Finley added: “This has been a year of significant and successful transformation for Debenhams Group.

“Under new leadership and a new strategy, the business is well positioned for significant future growth, with the successful Debenhams turnaround providing the blueprint for the wider Group.”

Sunnei srl is in liquidation. The brand's name is a play on the Italian mispronunciation of 'sunny', as the founders decided to satirise the use of English in other languages.

The first hearing to examine the statement of liabilities has been set for September 16, 2026. The ruling of May 14, 2026, states that the debtor is "notified that they may request to be heard and may intervene in the aforementioned hearing, to also be heard on the claims for admission to the liabilities".

The brand was founded in Milan in 2014 by Loris Messina and Simone Rizzo. The project originated from their cross-disciplinary skills, which allowed the founders to observe the system from the inside.

The brand is based on Via Cironi in Milan.

Last September in Milan, the Sunnei show turned out to be an auction of the brand and its creative directors.

The audience witnessed an auction held in collaboration with Christie's. During the event, the brand and its two creatives were symbolically put up for sale instead of a new collection.

In essence, the May liquidation ruling chronicles an end that was foretold.

"The fusion of our cultures is reflected in the brand's distinctive features. Simone, originally from Southern Italy, brings simplicity of form; I, coming from France, bring a touch of sophistication. Furthermore, regardless of our origins, Sunnei conveys much of what the city of Milan is about, where we have lived for a few years and decided to create our brand spontaneously," the two founders said in an interview with Luisa Via Roma's magazine a few years ago.

"Sunnei was born after some experiences we have had in various areas of fashion. We have worked as photographers, buyers, and press officers; in the past, we have been everything but designers. It is precisely these experiences, however, that have allowed us to have a 360-degree view of the industry. Our naïve approach is what keeps us moving forward with an open mind. Never having had any design experience meant that we could throw ourselves into something new from scratch, without preconceptions. We have learned everything along the way, from selecting fabrics to organising fittings before the show," Messina and Rizzo added.

Canadian lifestyle brand Roots reported that Q1 sales, for the period ended May 2, rose to 6.5 percent to 42.6 million Canadian dollars, while it continues its review of strategic alternatives, including the possible sale of the company.

Sales growth in Q1 was driven by both its direct-to-consumer (DTC) and wholesale businesses, with DTC sales, which include stores and e-commerce, increasing by 3.3 percent to 35.8 million Canadian dollars, while comparable sales climbed 3.2 percent. This was achieved through “positive traffic across both channels, supported by a thoughtfully curated product assortment,” explains the retailer.

For the retailer’s wholesale Roots-branded products and custom products, it reported “significant growth,” increasing by 26.6 percent to 6.8 million Canadian dollars in Q1 2026, compared to 5.4 million Canadian dollars in Q1 2025.

Despite the sales gains, Roots reported a net loss of 10.1 million Canadian dollars, or 26 cents per share, compared with a loss of 7.9 million Canadian dollars, or 20 cents per share, a year earlier.

As the first quarter historically represents approximately 14 percent of the full year sales at Roots, the impacts of the non-recurring projects had “a more pronounced impact” on net earnings. Adjusted net loss, which excludes costs associated with the company's distribution centre transition and strategic review, was 7.6 million Canadian dollars, compared with 7.4 million Canadian dollars in Q1 2025.

Meghan Roach, president and chief executive officer of Roots, said in a statement: “Within the first quarter, we continued to diversify our product offering with both our lifestyle and activewear offerings increasing as a percentage of sales.

“These results reflect the continued strength of the business as we advance two significant initiatives this year: the transition of our distribution centre to Metro Supply Chain, and the review of strategic alternatives being led by our Board. The costs associated with these initiatives are reflected in our results. We remain focused on disciplined execution and building long-term value for all our shareholders.”

In March, Roots launched a strategic review to maximise value for shareholders, including selling the company, and has spent 600,000 Canadian dollars on consulting and legal fees.

Madrid – Spanish fashion multinational Tendam, the parent company of chains such as Cortefiel, Women'secret and Springfield, reported its results for its latest 2025 fiscal year this Tuesday morning. The period ended on February 28, with the group achieving further growth in revenue and profits. These results will serve as a foundation to accelerate its expansion and consolidation plans starting from 2026.

Tendam has now officially presented the accounts for its latest 2025 financial year. This completes the Spanish fashion multinational's records for the 2025 calendar year, which were previously reported by FashionUnited in February based on financial information from its parent company. The company completed the period, from March 1, 2025, to February 28, 2026, with total sales of 1,467.3 million euros. This amount represents an increase of 6.8 percent compared to the annual turnover in 2024. The company also reported a 6.1 percent increase on a like-for-like basis.

In terms of profitability, the company reported a net profit of 112 million euros in 2025. This figure represents a 26 percent increase compared to the profit recorded in 2024. This was supported by a gross margin that, although contracting by three percentage points, stood at 62.4 percent. EBITDA also rose to 368 million euros in 2025, a 9.4 percent increase.

“The results for the 2025 financial year confirm Tendam's strength as a unique and distinctive omnichannel ecosystem in the market,” emphasised Jaume Miquel, chairman and chief executive officer of Tendam, in a statement shared by the Spanish group's management. “It is a strategically solid model that has reached almost 1.5 billion in revenue with above-market growth in total sales; comparable sales; EBITDA; and net profit. These indicators show how we continue to grow in the market and strengthen our connection with the customer through advanced analytics, a firm and accelerated commitment to artificial intelligence (AI) where it generates the most value for us, and a benchmark multi-brand proposition.”

Generalised growth, by segment

Delving into the company's performance in its last fiscal year by business area, Tendam highlighted that sales growth was widespread across all its operational segments. In the adult fashion segment, combined sales from the Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove and Ooto brands increased to 394.6 million euros, a 7.8 percent rise. Its specialised lingerie and sportswear chains, Women'secret, Dash and Stars and Hi&Bye, saw sales grow to 466.8 million euros, a 9.9 percent increase. The youth fashion segment, including Springfield, High Spirits and Springfield Kids, grew more moderately. It remains the group's largest segment with revenues of 495 million euros, a 3.5 percent increase. This breakdown of sales is completed by its outlet segment, which includes the Fifty store chain and its associated brand Milano, with sales of 110 million euros, a 5.5 percent increase.

Regarding the company's performance by channel, online sales grew by 12.9 percent in 2025, although the total amount and its percentage of the company's total annual revenue were not specified. In its physical channel, the group expanded its retail network during the last fiscal year with the addition of 43 net openings. This included 29 of its own stores and 14 franchised stores, ending the year with a total of 1,844 operating points of sale.

Finally, by market, the company highlighted that Spain, Portugal and Mexico remain its key geographies. In Mexico, it recorded “significant” sales growth of 17.9 percent, or 25.2 percent at constant exchange rates, without specifying the final revenue figure for the Mexican market. The company demonstrated its strong growth ambitions for the country by opening 11 new stores in Mexico during 2025. Tendam closed the year with 88 of its own stores in the country.

Tendam to open over 100 stores in 2026, starts year with 10 percent growth

As a final update, Tendam reported that during the first quarter of its new 2026 fiscal year, from March 1 to May 31, the group recorded total sales of approximately 288.2 million euros, a 10.4 percent increase. It also recorded an EBITDA of 62.7 million euros, an 11.9 percent increase. The company celebrates these metrics in the face of the “geopolitical and economic uncertainties” that have occurred since the beginning of the year. It is also confident of accelerating as its strategic expansion plan is executed. This roadmap includes more than 100 openings throughout 2026. These will mainly feature group brands such as Hoss Intropia, Slowlove, OOTO and Dash and Stars, in line with Tendam's objective of providing each of its portfolio brands with an independent and representative physical presence.

“If 2025 was notable for our growth and a change in majority shareholding, led by 2PointZero, which I would describe as successful and orderly, 2026 represents the beginning of the deployment of Tendam's full potential,” added Miquel. “This is in terms of international expansion; development of own formats for the new brands; expansion of existing stores; strengthening our digital business; and a decisive commitment to investment in AI to accentuate our differential advantages.” He detailed that this comes after, “despite the global geopolitical and economic turmoil,” Tendam has managed to complete “its first quarter growing above the market in each of the main markets in which we operate.” This “demonstrates, once again, the power of our differential model and makes us look to the future with confidence and ambition for all that remains to be built.”

Two Japanese fashion brands are joining forces. Human Made Corporation is acquiring 100 percent of the shares of Undercover Co. Ltd., according to various media outlets including Hypebeast. The deal will make Undercover a subsidiary of Human Made from the first quarter of the 2028 financial year.

The two companies are no strangers to each other. Human Made founder Nigo has been friends with Undercover founder Jun Takahashi for decades. Both are leading figures in Japanese streetwear culture. For several years, Nigo has also been the creative director of the fashion house Kenzo. He is also the founder of the brands A Bathing Ape and Billionaire Boys Club.

With this acquisition, Human Made aims to support companies that are culturally relevant but may not be the most profitable.

With the rise of social media and increasingly online lifestyles, products are constantly scrutinised in public, and brands rely heavily on influencers to shape perception. Independent designers are struggling to take action against large fashion retailers that may be copying designs from smaller businesses.

At the same time, shifting economic pressures have normalised the purchase of “dupes,” removing much of the stigma that once surrounded imitation goods. As consumers become more accepting of lookalike products, companies are more than willing to replicate successful designs. This has in turn resulted in a noticeable increase in copycat litigation.

We are seeing copycat disputes play out in court across the world. Take Sol de Janeiro’s complaint filed against Australian beauty brand MCoBeauty in New York, alleging MCoBeauty created cheap knockoff perfume mists that infringe Sol de Janeiro’s rights by copying the look and feel of the Brazilian-inspired brand's products. The complaint alleges false advertising, trade dress infringement and unfair competition.

Other high-profile lawsuits in the US include Deckers v Last Brand Inc. (the parent company of Quince), in which Deckers alleged design patent infringement in relation to its Ugg mini boots, and Brandy Melville’s lawsuit filed in California against Shein (the trade mark claims were dismissed but the court has allowed the copyright claims to proceed along with claims on how Shein operates and profits on its platform). Brandy alleges that Shein used Brandy’s product images to market lookalike products.

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In Denmark, we’ve seen Ganni battle it out with Bianco Footwear over a range of buckle shoes and in Belgium, the Dr Marten’s boots with yellow stitching were found to have been infringed by Redisco’s orange stitching on similar boots.

These types of copycat disputes are emerging across the globe, with brands having more success in some jurisdictions than others.

Below we discuss two important cases in the UK in relation to trade mark and unregistered designs rights and how the courts are dealing with copying at a time when dupe culture is rife.

Copying unregistered designs in the UK

Boohoo v Edwards is a case from last summer whereby designer Sonia Edwards filed a claim for infringement of an unregistered design against fashion retailer Boohoo. Edwards argued that Boohoo copied bikini designs, puffy shoulders on tops, curved waist bands on trousers, etc. Designs are covered by section 213 of the Copyright, Designs and Patents Act 1988. Design protection arises when a design is recorded in a design document or when an article has been made of the design (i.e. clothing made from designs). In this case, the design right was alleged to be in the clothing itself and not in a design document.

Unfortunately for Edwards, the court determined there was no evidence of copying and therefore found no infringement. The court noted that features that cannot be seen on a piece of clothing - for example, concealed patterns - or features which are not present, i.e. a lack of a zipper, cannot form part of protection for design rights. One of the arguments made by Edwards was that a design’s shape and configuration can vary when worn. The court disagreed and said the design right must be clear.

For the fashion industry, the case highlighted that as huge quantities of clothing are designed and produced weekly, there are only so many ways to design clothes to fit the body. Edwards had a small social media following and the court found it unlikely that a large company like Boohoo had taken inspiration from her social media account. In the end, Boohoo successfully defended the action and the court acknowledged that it’s unsurprising that designs resemble previous designs given the large-scale production in this industry. However, the outcome of the case suggests that where intentional copying can be demonstrated, brand owners may find the courts more receptive.

Using benchmarking to copy products

In contrast to the difficulties faced by Edwards, the recent UK trade mark case Thatchers v Aldi represents a significant and encouraging outcome for brand owners, particularly in tackling “copycat” strategies used by some retailers. Though it relates to product packaging rather than fashion, the decision is relevant to fashion brands as the ruling strengthens the application of section 10(3) of the Trade Marks Act 1994, which protects marks with a reputation from unfair advantage, even where there is no likelihood of consumer confusion.

Thatchers, a long-established UK cider producer, launched a lemon-flavoured cider after decades of producing only apple-based products. The brand invested heavily in promoting the product, prominently featuring lemons on its packaging, and it quickly became successful. Aldi, known for developing own-brand goods based on leading products, used Thatchers’ lemon cider as a benchmark for its Taurus lemon cider. Trial evidence showed Aldi closely referenced Thatchers’ packaging when designing its own product, despite opting for a cheaper formulation without real lemon juice.

Thatchers was unsuccessful at first instance, but the Court of Appeal ruled in its favour for the s.10(3) Trade Marks Act 1994 claim, concluding that Aldi intentionally sought to benefit from Thatchers’ established reputation.

Aldi was able to achieve strong sales without comparable marketing investment, effectively capitalising on Thatchers’ promotional efforts. Importantly, this was the intention of Aldi, determining factors in the decision.

What fashion brands need to know

From Boohoo v Edwards, the challenge of arguing a design right sitting within a piece of clothing becomes clear. The court had emphasised how many items are produced on a weekly basis and that its highly likely some designs will resemble others. Having a design recorded in a design document is a better approach, as this would set out dimensions and specifications, and it could make it easier to establish infringement in court.

Fashion brands need to know that concealed elements in the clothing will not be protected by designs in the UK. Smaller brands or independent designers should take advice when considering suing larger brands, as the mass produced nature of clothes means that large fashion retailers can argue they did not copy smaller brands and designers.

In the case of Thatchers, however, there is evidence that is it becoming riskier for copycat businesses to copy products, particularly when there is a demonstrable intention to benefit from the reputation of the benchmarked product.

Some brands may not have registered rights in what is being duped, and if this is the case, the common law of passing off could be the legal remedy, however, providing enough evidence to prove actionable goodwill and misrepresentation to succeed in a passing off case can be difficult. Therefore, it is advisable that brands obtain registered trade mark protection for their valuable brand assets.

Fashion brands may struggle in similar situations to obtain registered trade mark protection for items of clothing, but could seek protection for the packaging, provided it is distinct from the product.

What should you do if you find out there is a copycat product on the market?

Stobbs has developed a counter-copycat strategy that includes the following: First, establish what rights you have in the product or packaging; second, keep records of the infringing activity; and third, gather evidence of reputation and any confusion from the public. Once these steps have been conducted, fashion brands can assess if further trade mark filings are a good strategic option.

What should you do if you want to take inspiration from a leading product without infringing? The key element, as highlighted in the Thatchers decision, is the commercial fairness of the conduct. Aldi’s conduct was unfair and there was the intention to benefit from the investment Thatchers had made.

Whether protecting your own product or drawing inspiration from competitors, understanding and managing intellectual property rights is essential. Fashion brands should be aware of the issues in proving design infringement and should record designs in a design document. They should also consider obtaining registered trade mark protection for the packaging, so that when a copycat is identified, brands are in the best position to tackle it.

"Responsibility is only a value when it is lived up to." With this central quote from Mark Bezner, owner and CEO of OLYMP Bezner KG, the company, internationally renowned for high-quality menswear, is launching its new communication on corporate responsibility and sustainability.

In the future, OLYMP will label each product with its individual sustainability features. The fashion brand will focus exclusively on recognised seals and certifications such as FAIR WEAR, OEKO-TEX, GOTS, OCS, RWS, RCS and TENCEL TM, ensuring maximum transparency and traceability. With a view to a successful future, the company is responding to the changing needs of its customers. It is also fulfilling the regulatory requirements of the new EU Empowering Consumers Directive (EmpCo) in the fight against greenwashing.

"We are now clearly communicating the ecologically and socially more sustainable properties of materials certified by recognised standards on our products. In this way, we not only offer our brand fans clear guidance when purchasing OLYMP items, but also commit to our responsibility throughout the entire supply chain," says Johann Trischberger, chief operating officer of OLYMP Bezner KG. He adds: "Responsibility needs a face if it is to be credible. Therefore, Mark Bezner, as the company owner and third-generation family entrepreneur, personally stands by our promise with his statement."

The online shop has also been updated to be contemporary and consumer-friendly. Here, customers can use clear search filters under the 'Product Standard' navigation menu item to specifically query the sustainable properties of the garments. These include bio-certified natural or certified animal fibres, controlled manufacturing, and proportions of recycled or wood-based materials. An individual landing page and the responsibility section on the corporate website also provide comprehensive information. From the autumn 2026 collection onwards, hang tags on the products will display the commitment to responsibility, while the care labels will indicate the underlying standards and seals.

The basis for the development of the new approach is a survey of customers conducted by the company in 2025. According to the survey, sustainability is an important issue for many when buying clothes. Respondents rated several factors as particularly important: high quality; long durability; the use of materials that are harmless to health; and fair working conditions in production.

OLYMP Bezner KG is the market leader for shirts in Germany. In addition, its high-quality clothing range, which includes business, casual and formal shirts, knitwear, accessories and trousers, is sold in over 40 countries worldwide.

UK retail conglomerate Frasers Group plc has announced an unsolicited all-cash on-market takeover offer to acquire all outstanding ordinary shares in Australian performance and lifestyle footwear retailer Accent Group Limited that it does not already own.

The offer is set at 0.65 Australian dollars per share, valuing the remaining 77.10 percent stake in the business at approximately 316 million Australian dollars, which is equivalent to 166 million pounds. The offer attaches no conditions and values the entire Australian retail group at 390 million Australian dollars.

The UK corporate entity currently holds a 22.90 percent stake in Accent Group, acquired at an historical average price exceeding 0.90 Australian dollars per share. Under the Australian Corporations Act, a formal takeover bid is required for Frasers Group to increase its holding beyond the 20 percent threshold.

Accent Group board advises shareholders to take no action

The board of directors at Accent Group, working alongside financial adviser Luminis Partners and legal adviser Arnold Bloch Leibler, has issued an initial statement advising its shareholders to take no action regarding the unsolicited proposal.

The board highlighted that the offer price of 0.65 Australian dollars represents zero premium relative to the last closing price of the shares on June 12, 2026. Board members also noted that because the bid is structured as an on-market offer, shareholders who sell their equities through the market broker will be unable to withdraw their sales or participate in any potential price improvements or superior competing proposals.

The official offer period is scheduled to commence at the opening of trading on the Australian Securities Exchange (ASX) on June 30, 2026, and will conclude at the close of trading on July 30, 2026, unless extended or withdrawn. Shareholders are permitted to sell their equities to the appointed broker, Barrenjoey Markets Pty Limited, on-market starting from June 15, 2026.

Strategic disagreements over cross-border retail rollout catalyst for offer

The hostile bid follows a downward adjustment of an ongoing retail partnership between the two companies. In April 2025, the businesses entered a subscription and distribution agreement to launch the retail banner Sports Direct in Australia, targeting 50 store openings over a six-year horizon.

The initial expansion target was revised downward in May 2026 to eight stores by December 2026 and 30 stores within three years, with the 50-store goal deferred indefinitely. Frasers Group chief financial officer Christopher Wootton stated that the recent financial performance, capital management, and approach to growth under the leadership of Accent Group chairman Lawrence Myers served as the catalyst for the takeover bid.

The UK firm stated it had made repeated attempts to engage constructively with the incumbent management team regarding declining earnings, rising borrowings, and high dividend distributions, but received no meaningful response. The primary objective of the offer is to reach a minimum 26 percent ownership level, which triggers the contractual right to nominate a second board director to influence strategic operations and protect the value of the investment.

The transaction follows a broader international expansion strategy by Frasers Group, which launched a voluntary public takeover offer last week to acquire the remaining shares of German fashion house Hugo Boss AG for approximately 1.98 billion euros.

Madrid – Spanish department store group El Corte Inglés reported the results for its last fiscal year 2025 on Monday morning. For the period ending February 28, 2026, the company increased its revenues and profits while continuing to reduce its debt.

According to information provided by the Spanish company's management, El Corte Inglés (ECI) closed its 2025/2026 financial year with total revenues of 17,247 million euros. This figure represents a +3.43 percent increase from the 16,675 million euros generated in the previous fiscal year 2024. The company specified that 14,988 million euros of this revenue was recorded as turnover. This represents an increase of just +1.36 percent compared to the 14,786.06 million euros the group generated from its operations in 2024.

In terms of profitability, the company reported a net profit of 628 million euros at the close of the financial year. This is a +22.65 percent increase compared to the 512 million euros in profit recorded a year ago. This figure translated into a recurring net profit of 522 million euros, up +11 percent from the 470 million euros of recurring net profit recorded in 2024.

Rounding out the main economic indicators for the 2025 financial year, the management of El Corte Inglés highlighted both the growth in EBITDA, which rose from 1,209 to 1,266 million euros (+4.7 percent), and the reduction of its net debt to 148 million euros. They noted this reduction allowed the group to end the year with a debt level of 1.3 times its EBITDA, “the lowest in almost two decades”.

“These results demonstrate the company's strength and allow us to confidently approach the coming years with greater investment and growth, with the aspiration of always making the experience unique for all El Corte Inglés customers,” stated Cristina Álvarez, president of El Corte Inglés. This was the first results presentation since her effective appointment as the new president of the board of directors on January 15.

Fashion and beauty as a key business unit

Analysing the group's performance by business area, the retail business is once again the main source of revenue for ECI, with a total revenue of 13,216 million euros (+1.84 percent year-over-year growth).

As part of this performance, sales in the 'Fashion and Beauty' division continued to be a key element of the group's balance sheet, with turnover rising to 5,882 million euros (+3.11 percent). This was followed by sales from the 'Food and Catering' division at 3,064 million euros (+0.66 percent); 'Home and Electronics' at 2,776 million euros (+2.94 percent); and a third miscellaneous category of other income amounting to approximately 1,494 million euros (+42.17 percent).

By channel, the company did not specify the breakdown of this retail revenue between its brick and mortar stores and its e-commerce platforms. The online environment is understood to still have a minor impact on ECI's balance sheet. It was only noted that the company has 16.3 million registered customers on its online platform, and that visits to the group's websites and apps rose in 2025 to over 1.01 billion (+12.93 percent).

Viajes El Corte Inglés grows by +70 percent

Regarding the performance of its other business lines outside of retail, revenue from 'Space Commercialisation' rose to 95 million euros (+14.93 percent), and 'Viajes El Corte Inglés' revenue reached 3,489 million euros (+69.88 percent). The breakdown is completed by the 'other business lines' in which the department store group participates. These include 'Financiera El Corte Inglés', which ended the year with a net profit of 56 million euros (+10.7 percent), and 'Seguros El Corte Inglés', which posted a net profit of 71 million euros (+6.3 percent).

Increase in investments

The company has confirmed new investments of around 650 million euros for the 2026 financial year. This decision follows the strong performance of its business divisions, improved financial control leading to debt reduction, and a 311 million euro increase in the Group's asset value from investments made in 2025. This amount was previously announced in January, coinciding with Cristina Álvarez's official start as president of El Corte Inglés, and will be part of the company's new strategic plan for 2025 to 2030. This roadmap includes a commitment to invest three billion euros, of which 567 million were executed in 2025. This initial 'investment effort' has now been increased by +14.63 percent to the 650 million euros committed for 2026 by ECI's management. The company will hold its next General Shareholders' Meeting on July 24.

For decades, made-to-measure tailoring has been defined by craftsmanship.

Today, the challenge is no longer craftsmanship alone—it is scalability.

As retailers and brands face growing demand for personalization, many are struggling to bridge the gap between customer customization and manufacturing execution. Long lead times, fragmented workflows, inconsistent fit standards, and operational complexity often make customization difficult to scale profitably.

Kutetailor believes the future of tailoring depends on something more than garments: a digital infrastructure capable of turning individual customer preferences into efficient, repeatable, and scalable production.

At Pitti Uomo 110, Kutetailor will showcase how data, digital customization, and smart manufacturing are reshaping the made-to-measure industry—helping retailers and brands transform customization from a service into a scalable business model.

Building a Digital Manufacturing Ecosystem

With more than 30 years of experience in garment manufacturing, Kutetailor has evolved beyond traditional production to develop a technology-enabled ecosystem for customized apparel.

Today, the company serves more than 1,000 clients worldwide, including independent tailors, menswear retailers, fashion brands, and uniform suppliers.

Supported by a workforce of over 2,000 employees and a daily production capacity exceeding 3,000 suits, Kutetailor combines tailoring expertise with digital systems and advanced manufacturing technologies.

At the core of the company’s model is an integrated workflow that connects customer customization, pattern engineering, production planning, and manufacturing execution.

Rather than treating customization as a series of manual processes, Kutetailor has developed a structured operating model that enables personalized garments to be produced with the consistency, speed, and efficiency traditionally associated with large-scale manufacturing.

Technology Designed for Customization at Scale

Kutetailor’s manufacturing system is built specifically for made-to-measure production.

Key capabilities include:

• 7-day lead time for Made-to-Measure garments
• No minimum order requirement for MTM production
• Trillion-data-driven CAD pattern library for fit optimization
• More than 20 proprietary laser-cutting systems for precision manufacturing
• Over 400 production processes supported by 11 quality-control stages
• Digital customization and order-management tools that connect customers directly with production

By integrating customization, pattern development, and manufacturing into a single workflow, Kutetailor helps businesses reduce complexity while maintaining the flexibility expected from personalized apparel.

Flexible Manufacturing for Different Business Models

Recognizing that different businesses require different production strategies, Kutetailor offers multiple manufacturing solutions.

MTM (Made-to-Measure)

• 7-day delivery
• Minimum order quantity: 1 piece
• One-to-one product development support

MTO (Made-to-Order)

• 14-day delivery
• Minimum order quantity: 30 pieces

RTW (Ready-to-Wear)

• 30-day delivery
• Minimum order quantity: 300 pieces
• Developed using tailoring-level construction standards

Private Label & Co-Development

Customized product development and manufacturing solutions tailored to the needs of brands, retailers, and tailoring businesses.

Meet Kutetailor at Pitti Uomo 110

Visitors to Booth 37 will have the opportunity to explore not only Kutetailor’s latest collections, but also the technology and systems behind them.

Highlights include:

• Spring/Summer 2027 tailored collections
• Thousands of premium fabric options from leading mills
• Digital customization tools for retailers, tailors, and brands
• Data-driven pattern engineering and fit development
• Smart manufacturing workflows designed for made-to-measure production
• Scalable MTM, MTO, RTW, and Private Label solutions
• A production ecosystem built to support customization at scale

Whether you are looking for a manufacturing partner, exploring private-label opportunities, expanding your made-to-measure business, or searching for more efficient production solutions, the Kutetailor team welcomes you to connect in Florence.

Visit Us at Pitti Uomo 110

Booth 37
16–19 June 2026
Florence, Italy

As personalization continues to reshape the apparel industry, the future of tailoring will depend not only on craftsmanship, but also on the systems that make customization scalable.

Visit Booth 37 to discover how Kutetailor is helping retailers, brands, and tailoring businesses transform customization into a more efficient, flexible, and profitable business model.

Paris - More than two years after a bill to curb the rise of “fast fashion”, epitomised by the giant Shein, was adopted by the National Assembly, its progress will resume in parliament. A highly anticipated meeting has been scheduled for next week.

Adopted by MPs in March 2024 and then by the Senate in June 2025, the bill from Horizons MP Anne-Cécile Violland was subsequently sent to the European Commission to assess its compliance with European law.

The EU executive opposed the text on several points, leading to lengthy discussions with the French government. This delayed the convening of a joint committee (CMP), a necessary next step for the bill to be passed by parliament. Several associations expressed outrage at the deadlock.

This meeting between MPs and senators, which must result in an agreed text between the two chambers, has finally been scheduled for June 17, Violland announced on Friday. The government has confirmed this information.

"France has responded firmly and with reasoned arguments to the European Commission's observations," the MP stated in a press release. "The CMP will be the precise opportunity to find a robust, ambitious wording that is compatible with the European legal framework," she added.

The bill introduces a whole range of tools to limit the rapidly expanding phenomenon of “fast fashion”, this ultra-ephemeral fashion, through measures such as an advertising ban and financial penalties.

"This law must finally distinguish, in our legislation, between companies that have chosen the ecological transition (...) and those that continue to thrive on a destructive model – for the planet, for our health, and for French textile jobs," stressed Anne-Cécile Violland.

If a compromise text is approved in the CMP, it will still need to be adopted by both chambers for the law to be definitively passed.

Madrid – The president of the United States, Donald J. Trump, has announced that the country has reached a definitive peace agreement with the Islamic Republic of Iran. This will put an end to the armed confrontations between the two countries and will allow for the complete, toll-free reopening of the Strait of Hormuz. The treaty will be officially signed by representatives of both countries this coming Friday, June 19, 2026.

The armed conflict between the United States, Israel and Iran erupted with attacks by the first two countries against the Islamic republic last Saturday, February 28. A contentious bilateral ceasefire, fraught with tension, was announced in early April. Three months have now passed, leading to a definitive treaty to end this latest conflict that has been shaking the entire Middle East region since the beginning of the year. The agreement has now been finalised, with only a few minor issues remaining to be settled before its final signing this Friday, June 19, 2026.

The president of the United States, Donald J. Trump, made the announcement via his official account on his social network, Truth. The profile serves as a de facto press office for his presidency, frequently used to disseminate significant information affecting the country and its foreign relations. This time, the news concerned the definitive peace agreement reached with the Republic of Iran. Trump reported the news just a few hours after admonishing Israel for its recent attacks in Lebanon. He was also participating in the “UFC Freedom 250” celebrations. The highly controversial fight took place on Sunday evening, June 14, 2026, Washington DC time, on the White House lawns. It was held to celebrate the 250th anniversary of the country's founding and President Trump's 80th birthday. The event featured the undisputed lightweight title fight, which resulted in a victory for American Justin Gaethje over Spanish-Georgian Ilia Topuria.

“The agreement with the Islamic Republic of Iran is now complete,” President Donald Trump announced on his Truth account at 11:29pm this Sunday, June 14, US East Coast time. “Congratulations to all,” the US president celebrated, before continuing to decree that “I hereby fully authorise the toll-free opening of the Strait of Hormuz and, simultaneously, authorise the immediate withdrawal of the United States naval blockade.” He added, concluding with “ships of the world, start your engines” and “let the oil flow!”.

Following up on that first announcement, about an hour later, around 12:27am on Monday, June 15, Washington DC time, Trump posted an additional note, also on Truth. He highlighted that “this great agreement will bring peace and security to the entire region.” The US president congratulated himself, stating, “Many presidents have tried to achieve peace with Iran, and all have failed before me.” He continued, “The leaders of the region have, for the first time, found a president who can help them achieve true peace.” “With the opening of the strait after the signing of the agreement on Friday, and the removal of the mines, oil will flow again at both ends for the region, and for the world.”

Signing on Friday, June 19, in Switzerland

It has not yet been confirmed who will participate in the treaty signing ceremony. It is not even out of the question that the US president himself, who is travelling to Europe this week for the G7 summit starting this Monday in the French city of Évian, may ratify it. However, the prime minister of Pakistan, Shehbaz Sharif, had already announced that the signing would take place on Friday before Trump did. The Pakistani leader, acting as a mediator in the negotiations, also added that the signing will take place in Switzerland. He confirmed that the treaty includes an end to all military operations on all fronts, including Lebanon.

“After intense negotiations, we are pleased to announce that a Peace Agreement has been reached between the United States of America and the Islamic Republic of Iran,” Sharif announced on his official X account. Under the agreement, “both parties have declared an immediate and definitive cessation of military operations on all fronts, including Lebanon.” He continued, “The official signing ceremony will take place on Friday, June 19, in Switzerland.” Looking ahead to the ceremony, he added, “we thank the United States of America and the Islamic Republic of Iran for their commitment to finding a diplomatic solution to the conflict.” “We also express our sincere gratitude to our brothers in this mediation effort, to the great leadership of the state of Qatar, for their support in reaching this agreement.” “We especially thank the visionary leadership of the Kingdom of Saudi Arabia and the Republic of Turkey for their immense contributions in this regard.” “With the agreement now closed, the mediators will facilitate a series of meetings this week.” These “pre-implementation talks,” the prime minister of Pakistan noted, “will lay the groundwork for the technical negotiations and the official signing ceremony.”

The digital product passport (DPP) is currently being rolled out under the EU's Ecodesign for Sustainable Products Regulation (ESPR). From 2027, it will be mandatory for priority product groups, including garments and textiles, and will apply to almost all physical goods sold in the EU, regardless of where the manufacturer is located.

For fashion brands and retailers, the DPP provides many advantages that go beyond mere compliance, from transparent communication with consumers to tracking and documenting one’s carbon footprint. On the data side itself, switching from various, fragmented data sources to one comprehensive platform is a big relief, avoiding duplicate data entry and being able to respond to data requests faster and more efficiently.

FashionUnited looked at six brands and their DPP story as well as one solution provider that managed to build successful data identities and the data foundation behind it. By “simply showing the work behind a product,” they are tapping into the future of fashion

Dedicated

Stockholm-based label Dedicated evolved from a retail-only T-shirt business into a full-fledged fashion brand in 2012, proving that bold colours and playful graphics can be sustainable. When corporate social responsibility (CSR) head Margaux Schleder joined the company in 2019, it knew all its Tier 1 suppliers and had partial visibility into Tier 2 and some cotton sources, but traceability information was stored in Excel files, which were maintained manually. “I was spending more time organising data than using it. And traceability is not a goal on its own. You need it for communication, for carbon footprinting, for B2B clients. We needed a system,” recalls Schleder in an online statement.

Joining the transparency platform by software provider Retraced had two key advantages: better internal traceability workflows and customer-facing transparency tools. Today, 88 percent of Tier 1 suppliers have been onboarded, 85 percent of the product volume can be traced back to cotton producers and 100 percent of DPPs have been integrated into the online shop. Retraced’s built-in widgets makes it easy to publish verified supply chain data directly to product pages.

Looking ahead, Dedicated wants to strengthen its traceability system further. The next step is onboarding more suppliers and using the new Supply Chain Mapping feature to track sourcing decisions earlier in the process. “We want to be involved from the beginning, especially with the current disruptions in organic and fair trade cotton,” explains Schleder.

King Louie

Dutch fashion brand King Louie started as a vintage market stall in Amsterdam and today has more than 900 stores across Europe. The label is known for vintage-inspired clothing that is made to last and sourced responsibly. In 2025, 77 percent of the collection was made from certified organic, recycled or lower-impact materials, and 99 percent of transport is done without airfreight.

“We are not a brand that shouts how sustainable we are. But we want to be transparent. Our customers care and so do we. That is why we needed a way to show the work behind each product,” states Laura Tol, CSR specialist at King Louie, in a blog post. Documentation and speed was the problem: Sustainability data lived in folders and spreadsheets and follow‑up was manual, document collection was done via email. This meant less capacity for strategic improvements and slower responses to buyers’ compliance deadlines.

“At some point, we were spending more time chasing documents than using them. We needed a system that helped us stay on top of things without adding another layer of work,” recalls Tol. King Louie implemented Retraced as a centralised system to support all of the brand’s supply chain activities from onboarding and compliance to communication and collaboration.

Today, all active suppliers have been onboarded and manage their data in the platform. Certification tracking is fully automated, thus reducing the need for monthly follow-ups. DPPs have been completely integrated in the online shop, in stores and in B2B showrooms. That means every product comes with a DPP, which shows the supply chain including audit scores and certifications. “We train our store teams to talk about it. Our marketing team uses it in campaigns. And our customers can scan the tag and see the full story. Some want just the basics. Others go deep. It works for both,” confirms Tol. In addition to the platform, King Louie hosts swap events, upcycling workshops and product styling sessions as part of an independent sustainability content and community strategy designed to make eco-friendly practices more engaging and accessible.

KnowledgeCotton Apparel

Danish sustainability-driven brand KnowledgeCotton Apparel was inspired by the organic fibre work of the founder’s father. Since foundation in 2008, it has grown into a globally recognised brand. However, keeping track of suppliers, certifications and data requests became increasingly difficult as the business grew. “We had the information — it just was not accessible,” recalls COO Anders Langhoff-Jensen in an online post. “If a buyer asked for a specific audit or certificate, we had to dig through folders or Excel files.”

Implementation into one system began country by country, starting with Tier 1 suppliers and working down to the raw material level. “We have now mapped every supply chain. Not just Tier 1 and 2, but all the way to the source,” reports buying assistant Mads Mariboe. “It was a challenge at first, especially in regions like China. But the Retraced team supported us closely. Their Mandarin-speaking staff helped us onboard even the more cautious suppliers.”

Since early 2024, every KnowledgeCotton garment includes a DPP via QR code, which gives access to its full production journey, regardless if a product is accessed in store or online. “We added the QR code from Retraced to our care labels and hangtags. Now sales teams and customers can see all the production steps without needing to ask or wait. It is very helpful in retail settings. When a customer asks where something was made, the answer is a scan away. It can reveal the 15 steps behind a single T-shirt,” explains Langhoff-Jensen.

Going forward, KnowledgeCottton Apparel wants to include a garment’s environmental footprint. “We are working with Carbonfact to link emissions data to the same product-level QR code,” adds Langhoff-Jensen. “Ideally, everything a customer or partner needs to know is available through one label.”

Löffler

Austrian brand Löffler, founded in 1973, not only makes performance apparel but also produces more than two-thirds of its fabrics in-house and handles nearly every step of the supply chain: from yarn selection and knitting to finishing, cutting and sewing. While the company gained deep insights into its supply chain through this vertical integration, the challenge was to make this transparency visible to retailers and end customers.

Personal contact over the course of three months helped bring over 50 suppliers onto the platform, from yarn suppliers and dye houses to trim providers and sewing partners. “Emails were not enough. I learned that a short 15-minute video call worked best. I would walk them through what needed to be done in Retraced, and we would get it done on the spot. We kept things simple at first and only asked for core company data, certifications and short descriptions. We would expand over time, but the foundation is there,” states Markus Reisegger, head of Sustainability at Löffler, in a blog post.

Every product in the brand’s main collection, apart from gloves and socks, now features a QR code that links to its supply chain data, thus laying the DPP foundation. One hundred percent of the own-brand summer 2026 collection will be traceable via QR code. The next step is to explore modules for product-level environmental data and to deepen supplier engagement.

Pangaia

Pangaia was founded in 2019 as a platform to scale breakthrough material solutions. Today, the London-based clothing brand is offering contemporary wardrobe staples made from bio-based, regenerative, recycled and responsibly sourced materials. Communicating that to the consumers has been always been a priority: “At Pangaia, we have long believed that transparency and circularity require a digital layer that travels with a product throughout its lifecycle. That is what initially drew us to digital product passports and why we explored this space so early on, before it became a regulatory priority,” explains Maria Srivastava, chief impact officer at Pangaia, when talking to FashionUnited.

“What has been most interesting to watch since then is how the industry conversation has evolved,” she adds. “A few years ago, digital passports were often viewed as a bit of an experiment. Today, they are increasingly recognised as critical infrastructure for the future of fashion. Brands are realising that trusted product-level data can support everything from compliance and traceability to resale, repair, authentication and deeper consumer engagement.”

Asked about one of the biggest lessons from early efforts across the industry, Srivastava mentions that “the challenge is not simply creating a digital identity—it is building the data foundation behind it.” She stresses that this “requires greater visibility into fashion’s notoriously complicated supply chains, stronger collaboration with partners and understanding of the systems that can connect information from multiple sources in a way that makes sense.”

The way forward is thus not about the ‘why’ of DPPs but the ‘how’. “As regulations accelerate and consumer expectations continue to evolve, I think we are reaching an inflection point. The most forward-looking brands are no longer asking whether they need digital product passports; they are asking how to use them to create better products, more transparent customer experiences and new circular business models. That is where the real opportunity lies, beyond compliance and into shaping the industry’s future,” concludes Srivastava.

Tom Tailor

At Hamburg-based fashion brand Tom Tailor, starting the implementation process had two main objectives: to achieve transparency across the supply chain, down to the raw material level, and to ensure compliance with the Due Diligence Act and other upcoming regulations. It took only three months to onboard 80 Tier 1 and 160 Tier 2 suppliers; today, this number is at 100 percent.

“It was about genuine collaboration—engaging with our suppliers at eye level and fostering a spirit of partnership. By approaching them with gratitude and recognising their role in helping us to meet these standards, rather than applying pressure, we achieved a more effective and supportive working relationship,” recounts Juliane Nowakowski, head of sustainability & corporate responsibility at Tom Tailor, in an online post.

The tracing journey started with a pilot in early 2023, where the brand selected three purchase orders (POs) per sourcing country, across nine countries, resulting in around 27 to 30 orders to trace. Following the successful pilot, Tom Tailor decided to fully integrate the tracing process for every product, starting from January 2024. Since April 2024, the company has implemented Retraced’s QR codes on every product’s wash care label, detailing each product’s journey.  

“Since we started tracing on purchase order level in early 2024, we have already traced 17 percent of more than 5000 POs to the raw material level and a further 13 percent to yarn level. Tracing for these POs is still ongoing,” reports Nowakowski.

Insights from Retraced

Many of the brands mentioned above went on their DPP journey together with Retraced, an AI-first platform for sourcing, product compliance, and supplier lifecycle collaboration. FashionUnited spoke with Lukas Puender, co-founder and CEO of Retraced, to find out more about the challenges that the company and brands usually face, data gaps and how to close them.

What prompted Retraced to focus on the DPP early on, even before it became mandatory?

Retraced actually arose from a completely different problem. The story begins with Cano, a shoe brand with which Philipp Mayer and I wanted to bring Mexican huaraches to Germany. Production took place under fair conditions, and the leather was vegetable-tanned. But how do you communicate that credibly? We wanted our customers to be able to scan the shoe to digitally see who made it, how it was manufactured and where the materials came from.

But there was no suitable solution available. So we built it ourselves, which laid the foundation for Retraced. That was in 2018, years before the DPP was even a topic of discussion in Brussels. Our starting point, therefore, was not compliance but the conviction that consumers have the right to know what they are buying, and that brands that can demonstrate this have a real advantage. The digital product passport was therefore, from the very beginning, an instrument of proactive transparency for us.

What challenges did you face initially, and what challenges exist now?

Initially, we had to do a lot of explaining: How can a brand communicate transparency to consumers? How does that pay off economically? Back then, for many, it was still just a “nice to have.”

Today, regulation has settled that discussion. The challenge is different: How do you build reliable data across four or five supply chain tiers? Many brands know their Tier 1 suppliers well. What happens along the chain, at spinning mills, dye factories and raw material suppliers, is often still a black box. That is precisely where the real work lies. And the larger the brand, the more complex the supplier network becomes, and the more a transparency solution needs to be scalable and efficient.

What data gap have you discovered when mapping multi-tiered supply chains?

Tier 1 suppliers, the direct manufacturing companies, are generally well documented. The problem starts at Tier 2, with weaving mills, spinning mills and dye factories. Most brands audit their Tier 1 suppliers, but many risks, such as environmental violations or poor working conditions, are hidden further down the chain and often only surface late.

The underlying structural problem is that each stage of the supply chain has its own formats, its own certification schemes, its own way of documenting—or not documenting—data. Proprietary formats and silos make it difficult to combine or compare data across schemes, actors, and regions. There is no common data model for multi-certification scenarios in multi-tiered supply chains. We are building precisely this common infrastructure. With over 30,000 suppliers in our network, we are already well on our way to achieving this.

How do you motivate suppliers and customers who are hesitant to disclose information about their production facilities or other relevant data?

Hesitation almost always has a specific reason. Suppliers often fear that transparency makes them vulnerable to competitors, auditors or brands that might then exert price pressure. This cannot be solved with a fancy onboarding brochure. What truly helps is building trust before requesting data. This means clarifying who has access, what happens to the data and what does not. It also means starting with suppliers who are already open, so others can see that transparency is not a trap.

Our argument is pragmatic: Once data is cleanly entered into Retraced, it does not need to be reprocessed for every new brand. Suppliers exchange verified product and material data once, stay synchronised with buyer requirements and reduce repetitive tasks through a single collaborative system. This is not about doing the brand a favour; it saves the supplier time and resources.

For the brands themselves, the motivation is usually a mix of pressure and calculation. Regulation is coming anyway, as the DPP will become mandatory in 2030. Those who start now build the data foundation step by step. Those who wait will only create stress for themselves.

At what point in the manufacturing process is the digital identifier (QR code) actually assigned?

This depends on the product type and the maturity of the supply chain, but the clear recommendation is: as late as possible in the process, and at the item level. A decision must be made as to whether to identify products at the item, batch, or model level, and how this ID will appear on the product, ideally as a 2D barcode such as a QR code, which can coexist alongside existing retail barcodes.

Assigning the QR code at the fiber processing level makes little technical sense because too many production variables remain undefined. A more realistic approach is to assign the ID after the garment is finished, either on the hanger or in the label, at a point when the product ID is stable and can be linked to all stored supply chain data.

How can brands ensure that the digital ID remains legible even after years of washing or heavy use?

The DPP makes product data accessible via a digital carrier, and QR codes, NFC chips, or RFID are all fundamentally possible. QR codes are currently considered the de facto standard for the DPP because any smartphone can read them without a special app. RFID is better suited as a supplementary carrier for logistics, not as a primary access point for consumers. NFC chips are an interesting interim solution, more robust than printed codes, but more expensive per unit.

Crucially, however, the durability of these data carriers over multiple usage cycles is an open standardisation issue that legislation has not yet resolved. So we don't yet know exactly what the EU will ultimately mandate. What we do know is that the actual data is not contained in the code, but in the underlying data system. The carrier is merely the key. This means that even if a QR code fades after years or a label needs to be replaced, the product passport remains intact. The challenge is physical, not digital. We work closely with label manufacturers on this, as they have more experience in this area than we do.

Regarding certified materials, how does the new module help with the automated management of transaction certificates?

Let's take GOTS-certified cotton as an example. The Scope Certificate confirms that a factory is certified. The Transaction Certificate confirms that the specific shipment actually comes from this certified factory. Both are needed to credibly substantiate a material claim. Currently, this is usually done via email, as a PDF, stored somewhere in a folder, and if an auditor asks, the search begins. In the Retraced platform, all documents are automatically retrieved from the suppliers.

The Retraced platform automatically collects all documents from suppliers. Scope Certificates from production facilities and their corresponding transaction certificates are then stored in one central location, complete with expiration alerts when a certification is about to expire. The transaction certificates are also directly matched and linked to the product deliveries. If a transaction certificate doesn't match the delivery, the system issues a warning. While this may sound straightforward, in practice it saves an enormous amount of time—in our experience, around 90 percent of the work. For many brands, this equates to several weeks of manual effort. This solution closes precisely the gap that fuels many greenwashing accusations today.

All interviews were conducted in written format.

In a fashion landscape defined by increasingly complex supply chains and globalised tensions, the UK’s ‘farm to fashion’ movement has emerged as a stabilising presence. Such setups are not exactly new in the way of localisation, yet the format is being revived and modernised alongside a cross-industry call for a return to “Britishness”.

Many of these systems are rooted in the heritage and indigenous nature of certain textiles in the UK. Materials like leather, wool and flax have long been associated with the country. However, as industrialisation and globalisation took hold, they lost their status to cheaper, more scalable imports.

Now, in the wake of geopolitical shifts, agricultural challenges, and a broadening desire for transparency, fashion brands seem to be turning inwards in their pursuit of a viable textile supply and production process. In addition, fresher labels have emerged as captains of this movement, operating entire ecosystems that are wholly based inland and, often, just a stone’s throw away from where their products are finalised.

Many of these companies are built by one individual or a small team who have ingrained traceability into their framework from the outset. They therefore serve as examples of moving beyond industrialised systems and globalised supply chains, and returning to a homegrown approach to creation.

What has unfolded is a movement focused on rebuilding regional fibre and craft networks; taking the consumer from soil to garment, preserving heritage crafts, boosting rural economics, and cutting down the carbon footprint typically associated with clothing production. Here are some companies leading the way.

Herd: “The ‘grow to wear’ movement offers genuine connection in an increasingly fast-paced world…”

Self-proclaimed serial entrepreneur Ruth Alice Rands had a vision for a brand that not only produced high-quality knitwear, but also prioritised local production methods. She was specifically drawn to the intricacies of British wool and its long-spanning history, and embarked on a journey to source wearable local yarn. It was the wool of the native Bluefaced Leicester sheep she landed on, having identified the material for its power to soften blends.

Merging an ability to knit with a passion for provenance, Rands then established Herd in 2020. The company’s wool is sourced from over 40 sheep farmers across the North of England before it’s transferred to factories in Yorkshire less than 50 miles away. “It is a more lengthy and costly process but this uncompromising attention to detail shows in the hand-feel of our knitwear and tweed,” Rand told FashionUnited. “Not only does this mean we can consistently offer the finest British yarn, we also pay farmers directly, guaranteeing them a fair rate every year.”

Rands had initially started out in yarn wholesale, supplying brands like Sunspel and Toast. This division was then halted in 2022 when momentum for Herd’s own knitwear took off. The company has since expanded into leather, cotton and linen, and for its latest SS26 collection has included localised details like lace and buttons from the last remaining UK suppliers for these products. Rands’ philosophy extends into all aspects of the business, including colouring yarn with plant dye, a process that has been scaled with a Yorkshire-based factory.

To Rands, the farm-to-fashion movement–akin to farm-to-table movement–celebrates provenance and natural philosophies that work with nature’s abundance and support personal and worldly wellness. “Our customers love knowing the details, from the characteristics of the breed to the methodology of our plant dyeing, which makes the finished pieces so special and timeless,” Rands said. “The ‘grow to wear’ movement offers genuine connection in an increasingly fast-paced world, and insights into the pre-digital worlds of farming, manufacturing and craft, an increasingly necessary balm of our times.”

Billy Tannery: “Customers are bored of empty sustainability statements, we’re focused on showing the whole process…”

Billy Tannery was founded in 2016 by Jack Millington, who returned to the Midlands after a stint in London in pursuit of a more hands-on lifestyle. He set out to find a solution for waste from the food industry while also addressing the decline in British leather. What emerged was the establishment of a small-batch tannery, which had at first focused on the production of handmade goat leather goods, before expanding into deer leather and bespoke hospitality products.

The farm answers the question of what happens to animals that may not make it through the food chain. Male goats born on a dairy farm, for example, were often killed straight after birth before meat companies stepped in, while numerous deer were being culled each year to prevent damage to native ecosystems, yet their skins were going to waste. Millington tapped into the UK’s centuries-old leather knowledge to provide an alternative to this waste, and sought to challenge misconceptions surrounding leather by setting up a framework for bringing production methods closer to home.

According to the company, all leather is sourced as a food by-product and tanned using bark extracts in the UK, creating products that embrace natural variations and are therefore free from plastic coatings and pigments. Products, most of which are bags, backpacks and accessories, are made with two artisanal workshops in Somerset and Leicestershire and typically consist of clean lines and seasonless designs.

Millington said: “At Billy Tannery, connecting the dots in our entire supply chain - from the source to our farm micro-tannery and workshops, and directly to customers - is all about trust and transparency. Customers are bored of empty sustainability statements so instead we’re focused on showing the whole process as honestly as possible. Our small-batch methods are less about scarcity and more about total oversight. Our customers want to feel connected to the British countryside and we want our leather to be the medium. Scars and all.”

Glencroft: “It’s essential our customers understand they are paying for a product that is better made because it’s entirely traceable…”

Family business Glencroft has specialised in classic countrywear since 1987, and has used 100 percent British wool for all of its knit products throughout its lifespan. As the business grew, the team–consisting of founders, husband and wife duo Richard and Justina Sexton and their son Edward Sexton–began to question how to incorporate wool from sheep within Clapham–their corner of Yorkshire–and in turn support farmers looking to broaden their scope.

In 2021, Glencroft began expanding with its own wool, starting with the minimum commercial quantity of 500 kilograms. After partnering with the Yorkshire Dales National Park, the project took off, resulting in what is now known as Clapdale Wool. The initiative sources fleeces from seven local farmers, many of whom Edward grew up with at the local school and now own local breeds like Dalesbred and Texel, which are not traditionally associated with knitting wool.

“The global supply chain is efficient but it has caused consumers to lose touch with where their products actually come from,” Edward Sexton said. “As a small family business, we can’t compete on price with massive brands manufacturing overseas. But while these brands pay lip service to sustainability, it creates an opportunity for smaller brands like us to use our local connections, and in our case our proximity to Yorkshire - one of the oldest wool processing areas in the world.”

Clapdale uses wool with little monetary value to create premium, traceable products, each made within a local supply chain network. In 2022, the company sourced three tones of wool to make mixed-breed yarn for limited edition knitwear or to weave into tweed products. Farmers were then paid a premium of at least one pound per kilo to cover their shearing costs, and a further 10 percent share of profits. While Clapdale recognised the challenge of processing and selling through this amount of wool, the company said it was looking forward to sourcing more in summer 2026.

Sexton added: “For a small business making premium knitwear, it’s essential that our customers understand they are paying for a product that lasts longer and is made better because it is entirely traceable. There is absolutely no disconnect between our brand, the fibres, and the people involved from the beginning to end. I can even take you into the fields next to our office and show you which sheep our jumpers are made from.”

Madrid – Spanish robotics start-up Theker Robotics has confirmed the closing of its latest funding round of 85 million dollars. The emerging company specialises in the design, production and marketing of robots for industrial process automation. The funds were contributed by a diverse group of investors, both old and new. These include the Inditex group and one of the Arnault family's investment firms, who are key shareholders in the luxury multinational LVMH.

According to information provided and made public by Theker's management, the 85 million dollars raised make this Series A funding round the largest ever closed by a robotics company in Europe. This specific round was led by US venture capital firm CRV, marking one of its first investments in a Spanish company. It was also backed by South Korean technology multinational Samsung, which is noted as its first investment in a Spanish company. Support also came from Aglaé Ventures, a venture capital firm with offices in Paris, New York and San Francisco. Aglaé Ventures is backed by Groupe Arnault, the family holding company through which the Arnault family controls its stake in the French luxury multinational LVMH.

In addition to these names, the robotics company also highlighted the participation of both existing and new investors in this round. These include groups, investors and venture capital firms such as Cathay Innovation; 20VC; Henkel Ventures; Korelya; Bright Pixel Capital; Carles Reina; Itnig; Spanish investment firm Kfund; Kibo Ventures; Mission; and Inditex. The Spanish fashion multinational has thus once again shown its support for the robotics start-up through investment. It announced its entry into the emerging company almost a year ago, during its 2025 Annual General Meeting last July.

Robotic solutions for the automation of industrial processes

Founded in 2022 in Barcelona by entrepreneurial duo Carla Gómez Cano and Jiaqiang Ye Zhu, Theker Robotics presents itself to potential clients and investors as a robotics company capable of designing, producing and marketing any type of robot for industrial process automation. These solutions are approached from an integral, holistic and circular perspective, and the company intends to accelerate their development thanks to the funds raised in this latest investment round.

In this regard, while stressing that the company does not produce prototypes but that its artificial intelligence (AI) powered robots are already in production, the investment raised in this round will be used to accelerate the integration of its high-capability robots into large industrial conglomerates; to strengthen Theker's technology, AI and robotics platform; and to expand its software, electronics, mechanical engineering and operations teams.

Theker said in a statement, “this round is not the end of the journey, but another step in the right direction. For that reason, thank you to everyone who has helped us get this far, and especially to our team, which maintains a standard that most people consider extremely demanding; to our customers, who push us to be better; and to our investors, old and new, who could see it before the rest of the world. We are building generalist, AI-native robots that adapt in real time to changing environments, with one goal: to solve 100 percent of industrial physical work and to build the world's largest company from Barcelona.”

The pattern inverted from recent weeks, with UK store fashion sales growing +6.60% in the latest week against a near-flat +0.19% base last year — a clean underlying gain rather than a base-effect rebound, according to the latest BDO High Street Sales Tracker. Total fashion like-for-like (LFL) sales held in growth at +1.85%, against a positive +0.74% base.

The recovery in physical stores came as the online channel paused. Non-store fashion sales fell -3.53%, ending an eight-week run of growth, as cooler, wetter conditions replaced the prior week's record-breaking heatwave. The decline came against a demanding base of +8.13% for the same week last year — among the tougher year-on-year comparisons in the recent run.

The store-online switch coincided with a sharp weather pivot. Having experienced record-breaking temperatures the prior week, UK retailers faced "frequent rain and heavy showers, wind, and cooler air" across most of the country, in BDO's words. Footfall data backed the in-store strength: high street footfall fell -3.1%, but retail parks rose +2.7% and shopping centres edged up +0.2%, according to Springboard.

The wider retail picture was uniformly positive. Total LFL sales rose +2.59% from a +1.82% base, with total store LFLs up +4.99% from +1.60% and total non-store LFLs up +2.62% from a more demanding +6.42% base. All three comparisons this week were against positive year-ago numbers.

Both fashion channels remain in territory that retailers would recognise as healthy after the prior week's category-wide acceleration. Store sales picked up the lead this week with the cleanest underlying gain in the data, while the online pullback came off an exceptionally strong year-ago comparison rather than a soft underlying performance. The next two or three readings will show whether the channel switch is durable or simply weather-driven.

Interview

“Our goal is to create an ecosystem, not simply a fabric marketplace,” Jeanine Ballone, co-founder and CEO of World Collective explains when asked what her mission is. Ballone launched the digital sourcing platform in 2022 after years of working across what she described as a fragmented and relatively outdated global supply chain. To address these issues, Ballone sought to create a centralised, democratised and inclusive materials library designed to inform and support brands of all sizes.

It was imperative for Ballone that World Collective went beyond sustainability alone. During her time building supply chains from the ground up, specifically at companies like PVH and Germany’s Otto Group, the exec witnessed overused and undervalued systems dominated by huge brands that still lacked the necessary infrastructure to back scalability. “There was no central ecosystem where suppliers, brands, and creatives could connect, share information, and discover opportunities,” Ballone reflects.

A joint infrastructure and SME accessibility

World Collective was therefore established to serve not only as a marketplace, but as a storefront for suppliers, housing materials, innovation, and knowledge under one roof. This was then opened up to brands, many of which didn’t have the resources to access innovative materials due to the minimum order quantities required to source them. In response, World Collective built a demand aggregation platform enabling even SMEs to get involved.

Ballone explains: “A small brand in Japan may only need 25 kilograms, while another brand in Amsterdam may need a similar amount. Together they can reach the supplier's minimum requirement and gain access to materials that would otherwise be unavailable.”

The platform’s launch came amid an industry under pressure, with many brands now operated by reduced teams and, in turn, narrower bandwidths to manage sourcing complexities. As a result, Ballone says she has seen a strong demand for tools that remove friction.

Her vision was shared by other industry leaders who joined in building up the World Collective’s foundations. Julie Tran, who now serves as chief growth officer, has applied her 24-years of experience across workforce management, technology and business operations to the role. After questioning why innovative materials were failing to scale, Tran was drawn to World Collective’s mission and asked to join the team. “What has remained constant is our focus on materials innovation, accessibility, and creating process efficiencies that help brands make better decisions,” she says.

‘We don’t dictate what sustainability means for a brand…’

To ensure consistent quality, all suppliers are vetted and curated with an emphasis on innovation and natural fibres. “We don’t dictate what sustainability means for a brand,” Ballone explains. “Instead, we provide the tools and search criteria that allow brands to make informed decisions based on certifications, standards, and values that matter to them. For example, users can search based on certifications such as Oeko-Tex or Bluesign and identify materials that align with their requirements.”

Such information has become even more integral ahead of incoming EPR regulations, just one definitive factor dictating an industry speedily moving towards regulated transparency and brand accountability. To get ahead of the curve, World Collective has been exploring the idea of a compliance-ready textiles library made up of supplier-level data specifically designed to cater to Digital Product Passport (DPP) laws.

A pilot of the DPP-Ready Library launched for a set period last month alongside DPP infrastructure firm Kinset, initially spotlighting nine certified materials from three suppliers, each displaying information spanning composition to compliance to handling. After initial testing, the library has been put on pause as it moves into its next iteration, with additional materials expected to roll out further into its timeline.

Balancing compliance and regulatory burden

The pilot was a reflection of a long-standing belief of World Collective’s team: that material information should be captured at supplier level and travel with the product through its lifespan. The creation of a supplier-first infrastructure intends to balance out the burden of compliance so that responsibility doesn’t rest entirely on brands.

Despite the library launching prior to DPP regulations being set in stone, Ballone said she could already see where the industry was headed, and so the early introduction was a no-brainer. The mission is to disrupt a currently dysfunctional compliance system, marred by an industry that “keeps pushing responsibility downstream to suppliers without creating the support structures they need”.

The library therefore aims to make the process more efficient, allowing suppliers to maintain more control over their information, adjusting it in one place and approving brand access when needed.

From a brand perspective, Tran also notes benefits, specifically that in the present day these companies are being run by individuals who aren’t necessarily experts in regulatory frameworks. She explains: “Their priority is building products and growing their businesses, not studying global compliance frameworks. We remove that complexity by giving them access to vetted materials and DPP-ready information. That makes it easier for them to build responsibly without needing to become compliance experts.”

While much of World Collective is about accessibility, challenges in the current marketplace also extend to larger brands. To address this, the platform is currently working with brands of this scale on pilot projects targeting specific material categories. The process begins at the design stage, during which teams are aided in the identification of materials that meet their criteria. They are then supported through sampling, sourcing, manufacturing, DPP integration, and impact reporting.

‘We’re building roads, not just vehicles…’

“Better informed businesses tend to produce better products,” Ballone notes. “One of the biggest reasons innovative materials fail is that stakeholders don't have all the information upfront. By providing visibility into costs, impact metrics, certifications, and sourcing requirements early in the process, we increase the likelihood that those materials make it to market.”

As World Collective develops, so too will its features, with new technologies, such as mood boards and metric comparisons, currently being developed to make sourcing through the platform even more intuitive. Future initiatives will also look to support artisan-led and women-led programmes around the world, giving them access to brands through digital storefronts.

All of this contributes to the company’s vision of a future fashion supply chain defined by more visibility and greater business control. Brands, meanwhile, would be able to bring their existing supply chains into the platform, and use it as a sourcing and decision-making hub. “The goal is simple: give people better information so they can make better decisions. When sourcing, compliance, pricing, and impact reporting all exist in one place, decision-making becomes much easier,” Ballone says.

In the end, it is all about infrastructure for World Collective. “We’re building roads, not just vehicles,” Ballone concludes. “We don’t need to be the middleman. We simply want to provide the infrastructure that allows everyone to connect, communicate, and transact more effectively.”

British clothing brand Original Blues is joining the slew of retailers shutting up shop after appointing liquidators to oversee its winding down process.

According to a filing with The Gazette, Umang Patel of Neum Insolvency was named the company’s liquidator.

The official voluntary process will involve the sale of assets to pay creditors before the company is permanently dissolved and removed from the Companies House register.

The company’s e-commerce website has already closed down and is now password protected.

Founded in 1985, Original Blues was known for its nautical themes, Indigo-dyed products, Fair Isle patterns and classic cotton and wool knitwear.

It joins a growing number of British fashion retailers reducing store counts or shutting down entirely.

Among those impacted are the likes of Quiz, LK Bennet, The Original Factory Shop and Russell & Bromley, each of which have closed either their entire retail network or part of it.

US investment firm Elliott Advisors is believed to have emerged as a potential bidder for The Very Group as it reportedly mulls a deal that could value the UK retailer at two billion pounds.

This is according to Sky News, which had also reported in May that Chinese e-commerce giant JD.com was another interested party, eyeing the group as part of UK expansion plans.

The Very Group and Carlyle declined the media outlet’s request to comment.

The interest comes after private equity firm Carlyle took over The Very Group last year, ending the retailer’s long-standing relationship with the Barclay family.

Reports in January suggested Carlyle was preparing an auction process that valued the platform between two billion and 2.5 billion pounds.

Next to owning the Very and Littlewoods brands, the group also operates a financial services division, offering revolving credit facility options like buy now, pay later to shoppers.

For the 2025 financial year, The Very Group reported an 8.4 percent uptick to its EBITDA, driven largely by the home goods category, which expanded by 9.9 percent. Fashion and sportswear, meanwhile, declined by 3.7 percent, impacted by aggressive market-wide discounting.

In February 2026, Carlyle secured a long-term funding deal to extend and renew debt facilities, injecting 150 million pounds in financial support to position the retail group for its next stage of growth.

Polish fashion retailer LPP Group has reported a 10.5 percent year-over-year (YoY) increase in revenue for the first quarter of 2026, reaching 5.5 billion Polish zloty (1.50 billion dollars). The growth was primarily driven by the ongoing expansion of the brick and mortar retail chain, particularly the Sinsay brand, alongside an increase in total commercial floorspace.

However, the rate of sales growth fell below initial company expectations due to unseasonably low temperatures at the start of the spring/summer 2026 season. February and April recorded temperatures below long-term averages, restricting consumer demand for early summer collections. Consequently, LPP recorded a 2.8 percent decline in like-for-like (LFL) sales for the period.

Brand performance and omnichannel development

Performance varied significantly across the corporate brand portfolio. Positive LFL growth was driven by 14.6 percent increase at House, 3.1 percent at Reserved and 0.7 percent at Cropp.

Conversely, negative LFL ratios were registered by Sinsay at minus 6.8 percent and Mohito at minus 15.5 percent.

Despite the LFL drop, Sinsay remained the largest revenue contributor, generating 3.13 billion Polish zloty, which represents a 13.9 percent YoY increase. Traditional brick and mortar sales for the group rose by 15 percent YoY, supported by 121 new store openings, 102 of which belonged to Sinsay.

Online sales grew by a modest 0.7 percent YoY to 1.46 billion Polish zloty. The e-commerce channel remained impacted by prolonged order fulfillment times in South-Eastern Europe, stemming from a warehouse fire in Romania in June 2025. Additionally, a strategic reduction in performance marketing spend to prioritise online profitability compressed e-commerce to a 26.6 percent share of group revenue, down from 29.2 percent in the prior year.

Geographically, international sales outpaced domestic growth, increasing 13.9 percent YoY to account for 56.8 percent of total omnichannel revenues, with Romania, Ukraine, the Czech Republic, and Hungary emerging as top-performing markets.

Record gross margin and rising operating profits

LPP achieved a record gross profit margin for a first quarter, rising by 4.5 percentage points YoY to 58.5 percent. This profitability milestone was reached despite an increasing volume of lower-margin Sinsay products.

Driven by strong margin performance, operating profit (EBIT) grew by 47 percent to 688 million Polish zloty, resulting in an EBIT margin of 12.6 percent. Total net profit for the quarter closed at 475 million Polish zloty, up from 335 million Polish zloty in the prior year period.

Technical investments and future targets

During the first quarter, LPP accelerated its logistics automation strategy by expanding its autonomous robot fleet more than sixfold to over 3,500 units across Poland and Romania. The group also initiated the construction of a new e-commerce fulfillment centre in Tczew, scheduled to open in the first quarter of 2027.

For the full 2026 financial year, LPP targets total sales of approximately 26 billion to 27 billion Polish zloty, backed by a planned 15 percent increase in retail floorspace that includes around 750 new Sinsay stores. The group projects a full-year gross margin of roughly 56 percent and capital expenditure of 2.5 billion Polish zloty.

Looking further ahead to 2027, the company forecasts revenues to reach between 30 billion and 31 billion Polish zloty. In addition, during the years 2028–2029, the company aims to open around 750 new Sinsay stores in 2028, and around 300-350 per year from 2029 onwards and anticipates positive LFL growth, and 15–20 percent growth in online sales.

Chinese e-commerce giants Pinduoduo and JD.com were among five major platforms summoned on Thursday for talks over misleading advertising, Beijing's market watchdog said.

Social media sites Douyin and RedNote, along with Alibaba-owned e-commerce platform Taobao, were also summoned.

The talks with company representatives, held by the Beijing Municipal Administration for Market Regulation, come as local and national authorities crack down on excessive "involution-style" competition.

Official efforts to tame "involution" -- a popular tag used to describe the race to outcompete that ends up nowhere -- has hit major Chinese firms across online shopping, food delivery and electric vehicles.

The Beijing watchdog said it had identified issues including false advertising for promotional events, irregular rules and failing to disclose merchant information, according to a statement.

It proposed "rectification requirements" aimed at preventing and mitigating risks during the so-called "6.18" online shopping festival this month.

Some of the platforms had launched "10 billion (yuan) subsidy" campaigns for the shopping event but did not detail actual subsidy amounts or the length of the promotion, the statement said.

AFP has reached out to the firms for comment.

Executives from leading UK retailers have called on the government to address policies believed to be making it harder to hire young people. Over 80 business leaders have signed a letter co-ordinated by the British Retail Consortium (BRC) warning that taxes and red tape are pushing up the cost of entry-level jobs.

Chief executive officers from All Saints, Ann Summers, Dune Group, JD Sports, Dr Martens, Marks & Spencer, Matalan Retail, Monsoon Accessorize, Reiss, TFG Brands, Seasalt, The Very Group, and Mamas & Papas are among those to have signed.

Karen O’Rourke, managing director of H&M UKIE and another signatory, said: “Too many young people are still being locked out of opportunities, and at H&M we see firsthand how important it is to create clear, inclusive pathways into work.

"Retail has a unique role to play in opening those doors, which is why we fully support the BRC’s call for stronger partnership with government to remove barriers and expand access to meaningful jobs. By working together, we can help more young people build the skills and confidence needed for long-term, sustainable careers.”

Concerns over youth unemployment rates were emphasised in an interim report by Alan Milburn, which suggested that 1.25 million under-25s could become unemployed in the next five years. Rising business costs, including an increase in National Living Wage, and changes to employment rights are also said to be impacting hiring methods.

The retail sector, which has historically remained entry-level, has particularly been hit hard by sweeping cuts. According to the BRC, around 400,000 jobs have been lost over the past decade, reducing entry-level opportunities for young people.

In response, business leaders are calling on the government to strengthen support by establishing a joint government-retail taskforce to enhance employment routes. The letter also requests for a reduction in employment costs and the implementation of reforms that support entry-level recruitment.

Helen Dickinson, chief executive of the BRC, added: “Retail and its supply chain account for almost a quarter of all youth employment, making our industry uniquely placed to support young people through flexible, entry-level roles and clear routes for progression. But this first step on the ladder is cracking under the weight of government-imposed costs and regulations.”

Dickinson continued: “Youth unemployment is a challenge that government and business must tackle together. If government wants more young people in work, it must create the conditions that allow businesses to hire, train and develop the next generation.

“Retailers stand ready to work in partnership with government through a joint retail-government taskforce to strengthen routes into employment, remove barriers to hiring and help more young people take that crucial first step into the world of work.”

The association Paris Good Fashion asked participants in its citizen consultation the question: “How can we make dressing sustainably and ethically desirable?”. Over 168,000 participants took part in the exercise.

The main finding was that respondents' primary expectation is for more information, transparency and education, as they find the current offering complex to understand.

Second citizen consultation led by Paris Good Fashion

From February 19 to April 16, 2026, the Paris Good Fashion association conducted a second citizen consultation, following the one in 2020. This was in partnership with Make.org, the city of Paris and with the support of several companies (Etam, Groupe Eram, Kiabi, Lacoste, Printemps, Galeries Lafayette, Le Bon Marché, SMCP, Karla Otto).

The question posed to participants was: “How can we make dressing sustainably and ethically desirable?”. The consultation involved nearly 170,000 participants in several countries: around 107,000 in France, 32,000 in Italy, 17,700 in the US and 11,499 in the UK.

481,156 votes were recorded, resulting in 1,680 proposals submitted, 1,449 validated after moderation and 915 receiving over 70 percent approval.

The first finding was that women were the majority of participants, accounting for 82 percent, compared to 17 percent men and one percent non-binary individuals.

The second finding was that those over 55 represented 52 percent of respondents. The 35-54 age group accounted for 32 percent of the sample, versus 16 percent for 18-34 year olds.

Information, transparency and education: need to simplify the message becomes more urgent

Information, transparency and education was the theme with the most proposals, at 31 percent in 2026 compared to 15 percent in 2020. Citizens stated they do not understand sustainable fashion and requested simple, reliable and comparable information.

“The first thing that stands out is that the people consulted do not understand sustainable fashion,” commented Isabelle Lefort, co-founder and executive director of Paris Good Fashion. “They do not know how to buy sustainable fashion and there is a general sense of suspicion about the information provided.”

Additionally, 43 percent of proposals related to information on fashion's impact. A further 28 percent called for greater product transparency. “People want education, information, explanations, guidance and training,” added Lefort.

Circular economy: repair and second-hand remain priorities

The circular economy was the second most cited theme, with 219 proposals making up 23.9 percent of the total. Its significance is considered broadly stable compared to the 2020 consultation, at 23.9 percent in 2026 versus 25 percent in 2020.

The primary topics mentioned were repair, second-hand fashion and clothing rental, with the latter identified as a point of controversy.

Pace of fashion: consumers call for a slowdown

This was the third most mentioned theme, with 13.9 percent of proposals. The subject is not limited to ultra-fast fashion. Participants condemned the volume of products, the proliferation of collections, marketing pressure and the feeling that “fashion is moving too fast”.

According to the organisers, respondents from the US and the UK support this idea of a slowdown even more than those from France or Italy.

In parallel, an emerging trend was that participants are calling for more clothing adapted to diverse body shapes. This theme was absent from the 2020 consultation.

They specifically mentioned issues with accessing clothing due to the available sizes and cuts. “Customers want to find clothes they like, but when they get to the store, they cannot find anything to wear,” noted Lefort.

Health: clothing quality becomes a central criterion

The organisers had expected the issues of price and ultra-fast fashion to feature prominently. This was not the case.

The citizen consultation revealed a strong demand for sustainable clothing, natural materials and products deemed to be of higher quality and more desirable. “There is a desire for creative, quality products that last. People are willing to pay a fair price, provided they are sure of what they are buying.” This directly contradicts the idea that price is the respondents' main concern.

In this regard, health is an emerging concern, particularly in relation to textile composition and regulatory compliance.

A total of 38 consensus-based proposals directly mentioned skin allergies; PFAS (per- and polyfluoroalkyl substances); endocrine disruptors; and carcinogenic risks associated with clothing.

According to PGF and make.org, this subject was completely absent from the previous consultation five years ago.

Relocalisation: respondents expect increased support from public authorities

Relocalisation accounted for 12.5 percent of proposals. Manufacturing in France is associated with quality, compliance with standards and local employment. “Producing in France is synonymous with quality and respect for employment regulations.”

In general, 255 proposals called for greater intervention from public authorities to regulate, supervise, arbitrate and support the ecological transition.

To present the full results of this citizen consultation, Paris Good Fashion has scheduled its next key event, the Midsummer Camp, for July 8 and 9, 2026, at the Domaine de Chaalis.

VF Corporation has announced the inauguration of a new addition to its EMEA headquarters in Stabio, Switzerland. The 2,500 square metre space includes offices, flexible coworking areas, a multifunctional auditorium and spaces dedicated to wellbeing and sport.

The site is “designed to bring people together and support how we work, connect, and grow”, VF said in a post on LinkedIn. It expands on an existing campus that already houses over 1,000 associates from over 40 nationalities, the company added.

The news comes amid an ongoing turnaround strategy at the apparel conglomerate, which returned to revenue growth for the first time in three years for FY26. The period was characterised by portfolio optimisation, most notably the sale of Dickies and Supreme, and an alignment of the Outdoor and Active categories.

Total revenues rose 4 percent to 9.3 billion dollars, while its adjusted gross margin reached 55.2 percent. Its operating income came to 650 million dollars, with an adjusted operating margin of 7 percent, reflecting a 110 basis point increase.

VF’s CEO, Bracken Darrell, said brands like Vans, which had been at the centre of dedicated turnaround efforts, were particularly showing momentum, with the footwear label now on track to achieve its medium-term targets, including an exit run rate of a 10 percent operating margin.

What was the return on the last pop-up? Which deals were finalised in the meeting with a supplier three months ago? What observations did the sales team relay from their latest conversation with a key client? In most companies, answering such questions still requires a fragmented search. Information is typically scattered across documents, emails, management tools and conversations between departments.

This everyday problem was precisely what led Diego Arroyo, chief executive officer of the Barcelona-based firm Laagam, to develop an infrastructure capable of turning corporate knowledge into a real-time accessible resource. The system centralises information from across the entire organisation. It allows users to query the history of decisions and operations using natural language. It also links data from different areas and executes actions immediately, from generating reports to drafting contextualised commercial communications.

Now, the company has decided to release this technology as open source. This move transcends the fashion industry, a sector historically driven by creativity and product. Increasingly, competitive advantage no longer depends solely on having information, but on the ability to transform it into actionable knowledge.

95 tools, 3,000 documents, zero engineers

According to the executive's own LinkedIn account, the company has been operating for months on what he describes as an “AI operating system”. This architecture connects 95 digital tools, processes more than 3,000 internal documents and executes operational tasks automatically by department. The main engine is Claude, Anthropic's artificial intelligence model. The team has fed it with years of their own corporate memory, all without a single engineer on staff.

Cases like this are currently proliferating at a speed that would have seemed exaggerated just a year ago. Since large language models became accessible without needing to write code, a team without a highly technical background can connect its internal data to an AI model and achieve real operational results. This is possible simply by having a clear idea of the problem to be solved. What once required a technology department now primarily requires judgement.

Fashion companies that have accumulated data for years—including emails; meeting transcripts; sales histories; and supplier communications—are beginning to understand that this disorganised archive is actually their most valuable asset. The key is not the AI model, which anyone can use, but the proprietary context that feeds it. That context is non-transferable and very difficult to replicate.

631 euros per month

However, Arroyo himself is honest about the real scope of the impact. The system has not directly boosted sales. Its value lies in freeing up decision-making time for the management team by absorbing the routine operational workload. It does this for 631 euros per month, the cost of maintaining the AI infrastructure.

Laagam has published the complete system openly under the name Compai. It includes the 53-chapter manual, templates by department and the technical architecture, so that other SMEs can replicate it.

Interview

Laurent Vergne Reepmaker is the founder and designer of Laurent Vergne, a Dutch menswear brand with strong French heritage, founded in 2020. It sits in the accessible luxury segment, offering timeless, classic menswear, from blazers and coats to shirts, trousers and knitwear. The promise, in the founder's words, is to make a man “the best dressed in the room, at any time,” without the premium price tag.

Now the brand is starting a new chapter. After building a direct retail business across Belgium and the Netherlands, Vergne Reepmaker has entered wholesale through retail organisation EK Retail and is pitching the brand to retailers ahead of the summer buying season that follows the Pitti Uomo trade fair in Florence. In an interview with FashionUnited, he set out the brand's positioning, its commercial model and its expansion plans with Belgium serving as the first step before expansion into France, Germany, Italy and Spain.

A collection built on timeless essentials

At the core of Laurent Vergne's philosophy is a refined all-season collection, rather than the traditional spring/summer and autumn/winter split, a choice Vergne frames as both a sustainability position and a merchandising one: stock that sells across the year rather than being marked down at season's end. “You build a wardrobe with things you can wear all year,” he says.

Around 90 percent of the range is timeless essentials designed to combine into complete looks, blazers in herringbone and check, cognac and double breasted coats, flannel trousers, linen-cotton shirts and cable knits, with the remaining ten percent reserved for statement pieces such as a perforated, jewel-toned ‘Marrakech’ shirt. A growing accessories offer, from belts and scarves to beanies and wallets, rounds out the complete looks.

Mission and identity: a story to sell

The positioning is deliberate. Vergne Reepmaker built the brand around an old money classic aesthetic and, just as importantly, around a narrative, naming it after himself to bind story to product. His read on the market is that accessible luxury is underserved: too few brands, he argues, pair genuinely good product with a strong brand philosophy. “I truly believe in the trend of affordable luxury,” he says, “but a lot of brands miss a brand story, an identity. People are looking for a narrative, a purpose, a DNA.” For retail partners, that translates into a brand with a clearly defined customer, the man who wants to dress well every day, and a hook to sell against the Ralph Laurens and Hugo Bosses it is often merchandised beside.

Wholesale, marketplaces and new markets

Wholesale marks a strategic shift, and one Vergne Reepmaker approached only once the brand was ready for it. He spent several seasons preparing the ground: establishing a clear brand identity and positioning, refining the collections for consistency, building a proven retail track record and a firm read on customer demand, and developing the operational backbone of production, logistics and inventory planning. Alongside its own stores in Brussels and Bruges, the brand is building a marketplace presence, onboarding the German platforms About You and Galeria and using online as a first step into new markets before a physical push. A proof point sits closer to home: in the south of France, Vergne Reepmaker’s cousin, the fourth generation to run the family menswear store, already stocks the brand alongside houses such as Corneliani.

The story behind the brand

The commercial instinct is hard won. Before launching, Vergne Reepmaker spent more than two decades in retail, starting at 18 on the floor of a womenswear boutique and going on to sell for Hermès on Amsterdam's P.C. Hooftstraat, then Paul Smith and Sandro, where he became area manager for the Benelux. A talent award won him a trip to Rome, where Italian retail concepts pairing classic tailoring with sharp pricing crystallised the idea for his own brand.

He studied business administration at night, then, as he puts it, broke through the “terror barrier” to strike out alone, launching with an Amsterdam pop-up during the 2021 pandemic and later running a 40 square metre concession at department store INNO in Brussels himself, often surprising shoppers by revealing he was the designer. Inside many garments, stitched into the lining, sit quotes from figures such as Churchill and Lincoln, a nod to the self-belief he says dressing well can give a man.

London - British apparel company Frasers Group (Frasers) announced on Wednesday its intention to acquire the remaining capital of German premium clothing group Hugo Boss for almost two billion euros (2.31 billion. Frasers already holds more than a quarter of the company.

As Hugo Boss is listed in Frankfurt, Frasers intends to “launch a voluntary public takeover bid in accordance with German law” for these shares. These represent “approximately 73.94 percent of the share capital,” the British group stated in a press release issued after the markets closed.

“Hugo Boss is a key brand partner for Frasers and one of the top five brands within the group,” added the British company. It plans to offer 38 euros per share, totalling approximately 1.98 billion euros, for the capital it does not yet own.

Shares in the Hugo Boss group, whose net profit increased by 17 percent to 249 million euros in 2025, closed at 36.46 euros on Wednesday in Frankfurt.

Positioning itself as a “long-term investor” in the German company, Frasers stated it is “supportive” of chairman of the supervisory board Stephan Sturm and chief executive officer Daniel Grieder. The group praised their “strategy of sustainable growth and strengthening brand value”.

Frasers expects the transaction to be “finalised in the second half of 2026”.

The British group, which owns the Sports Direct chain, saw its net profit fall by 23 percent to 292.1 million pounds in its fiscal year ending late April 2025. These are the latest annual figures available.

Madrid – Galician fashion multinational Bimba y Lola has today reported on the profitability data recorded by the company at the close of its last fiscal year, 2025. These metrics provide a clearer and more complete picture of its actual performance over the past year. They supplement the initial estimated sales figures released by its management in early March of this year, 2026.

Based on information provided by the Spanish company's management, Bimba y Lola closed its last full financial year 2025 on February 28, 2026, recording total sales of 250 million euros. This amount represents a growth of +6.83 percent compared to the 234 million euros invoiced by the company during its previous full financial year of 2024. This rate reflects an acceleration in turnover levels compared to the +3 percent growth recorded in 2024 against the previous year's sales.

In terms of profitability, Bimba y Lola reports an earnings before interest, taxes, depreciation and amortisation (EBITDA) of 32 million euros in 2025. These are indicators that the company's management was reluctant to make public for the 2022, 2023 and 2024 financial years. This figure represents a growth of nearly 13 million euros, or +68.42 percent, compared to the 19 million euros recorded at the close of the previous fiscal year. This has resulted in an EBITDA margin of 13 percent on sales.

Completing this performance in terms of profitability, the company reports a net profit that reached eight million euros at the end of the year. This amount is up +433 percent from the nearly 1.5 million euros the company recorded as net profit at the close of 2024, after adding 6.5 million euros compared to the previous year's result. With this, Bimba y Lola recovers some of the ground lost due to expansion and consolidation initiatives carried out in recent years. It also moves closer to the 18.2 million euros in net profit it achieved in 2019. This was the last financial year to be completed without the effects of the coronavirus pandemic. The company completed that year with sales of 226.8 million euros and an EBITDA of 35.8 million euros.

“Our year 2025 has been really positive in many ways,” highlighted Jose Manuel Martínez, chief executive officer of Bimba y Lola, in a statement released by the management of the Spanish fashion multinational. “The positive evolution of our comparable sales in all markets makes us feel a growing affection for the brand and encourages us to continue improving. We also greatly value the continuous strengthening of our teams and our resources to be able to continue building Bimba y Lola as a Spanish brand with a global reach.” A goal towards which, he adds, “now that we have completed our first 20 years, we remain enthusiastic about this adventure.”

Spain as a growth driver

Delving into the other indicators presented by Bimba y Lola regarding its performance during 2025, by channel, 78 percent of sales, amounting to some 195 million euros (+5.48 percent), were generated from the physical points-of-sale that the store has across 34 markets worldwide. These points-of-sale, both owned and franchised, totalled a network of 321 stores in 2025, after the addition of 11 net openings to the 310 points-of-sale the firm had at the close of the 2024 financial year.

Completing these records, the digital channel closed 2025 representing 22 percent of Bimba y Lola's global turnover, for some 55 million euros (+11.92 percent). This level of revenue shows the online channel continues to gain greater prominence within the company's balance sheets, increasing from 21 to 22 percent of its global sales. This is despite experiencing a slight reduction in its growth rate compared to the +15 percent recorded in 2024 versus 2023.

Finally, by market, nearly 58 percent of Bimba y Lola's 2025 sales were generated in Spain, for a value of around 145 million euros (+10.65 percent), compared to the 56 percent they represented of 2024 sales. This revenue stream is completed by an international business that is shrinking in weight within the company's balance sheets, dropping from 44 to 42 percent of the company's global revenue, for some 105 million euros (+1.98 percent). Bimba y Lola's management has nevertheless been keen to clarify that the company's sales experienced “good development” in all the markets in which it operates, in comparable terms.

As for why EBITDA has increased by almost 13 million euros while net profit has increased by 6.5 million, this “more moderate improvement than that of EBITDA” was “mainly due to the major investment effort made by the group between 2018 and 2024”. The company justifies this by stating that “the investments made in international expansion; the modernisation of the store network; the automation of logistics; the provision of systems; and the construction of a new headquarters are key elements for the brand's medium and long-term strategy.” However, they “entail a higher level of amortisation and a higher short-term financing cost.”

British sportswear giant Sports Direct has partnered with delivery platform Zapp to offer FIFA World Cup 2026 merchandise to customers across London, with the goal of making products available within 20 minutes.

The collaboration will run throughout the tournament and gives football fans access to official merchandise, including shirts and match-day essentials, alongside groceries and drinks through a single order.

The move comes as retailers look to capitalise on major sporting events through faster and more flexible fulfilment options. According to Zapp, 78 percent of football-related orders are placed within 90 minutes of kick-off, often outside traditional retail trading hours.

A Sports Direct spokesperson said: “The FIFA World Cup is one of the biggest moments in the global sporting calendar. Through our partnership with Zapp, we're extending access to our FIFA World Cup 2026 range across London, combining Sports Direct's industry-leading football offering with Zapp's on-demand delivery capabilities.”

Zapp said that interest in football-related products has already accelerated ahead of the tournament, with the company's commercial director Rowan Lawson adding that searches linked to football on the platform have increased by more than 300 percent since teams arrived in the US.

The announcement follows the launch of Sports Direct's World Cup campaign, “When Football Was Football”, which focuses on the nostalgia and cultural significance of the tournament.

British brand conglomerate easyGroup is entering the online retail sector with the launch of easyShop.com, a new marketplace platform developed in partnership with e-commerce company OnBuy.

Scheduled to launch in the fourth quarter of 2026, easyShop will initially operate across 21 European countries and aims to bring retailers together on a single cross-border marketplace.

The platform will be powered by OnBuy's proprietary marketplace technology and operate as a pure marketplace model, meaning it will not hold inventory or compete directly with sellers.

Its mission is to allow retailers to access customers across multiple countries without managing separate local marketplaces, while consumers will be offered a value-focused shopping experience under the easy brand.

In a statement, Stelios Haji-Ioannou, founder and owner of the easy family of brands, said: “The easy family of brands has expanded into many new sectors by focusing on simplicity and value for money. I believe an online retail marketplace using a great domain like easyShop is a natural next step.”

Haji-Ioannou added that the company is already preparing to recruit sellers ahead of a consumer launch later this year.

Cas Paton, founder and chief executive of OnBuy, said the platform is designed to help retailers expand internationally more quickly by removing “many of the barriers that typically slow retail expansion”.

Frasers Group is believed to be mulling a bid for the Metrocentre in Gateshead, according to Sky News, in a deal that would further expand the retailer's growing portfolio of shopping centres and retail parks.

The shopping complex was put up for sale last month, with agents at Knight Frank overseeing the process. Initial bids are expected in July, with the media outlet suggesting the centre could fetch around 500 million pounds.

The acquisition would represent Frasers' largest retail property transaction to date, if successful. The Sports Direct owner declined Sky News' request to comment.

The potential deal reflects the group's increased focus on retail real estate under chief executive officer Michael Murray. In its latest results, Frasers said it had continued investing in shopping centres and retail parks at "attractive yields to satisfy our occupational demand", pointing to sites in Greenock and Almondvale, as well as the 217.6 million pound purchase of Braehead retail park near Glasgow.

The Metrocentre, meanwhile, was previously part of Intu before the property group's collapse into administration in 2020.

When launching the sales process, a spokesperson for the shopping centre told media outlet CoStar last month that its "sustained strong performance, combined with increased interest from investors in the attractions of such major retail and leisure destinations, has led Metrocentre to move forward with a sale process to support the next phase of its development".

The spokesperson added that a 60 million pound investment programme since 2020 had helped drive footfall back to 16 million visitors for the first time since the pandemic.

Keel Labs, the US startup behind the first fabrics made from seaweed, filed for Chapter 11 bankruptcy protection with the North Carolina court on June 5. The company has an estimated ten million dollars in assets and one million dollars in liabilities.

To produce Kelsun, biopolymers are extracted from seaweed and converted into threads through a chemical process. These threads are then spun into fibres. Keel Labs describes Kelsun as a “plug-and-play integration”. The material can be knitted and woven, and blended with other fibres such as cotton or hemp. In 2024, the innovation earned the company the ‘Innovation Project of the Year’ award at the Textile Exchange Climate & Nature Impact Awards.

Founders Tessa Callaghan and Aleksandra Gosiewski started in 2017 in a small laboratory in Brooklyn. Then operating under the name AlgiKnit, their mission was to introduce ocean-derived fibres into the polluting fashion sector. In 2022, a significant growth spurt followed thanks to a Series A investment of 13,000,000 dollars from investors including Collaborative Fund, H&M Co:Lab and Horizons Ventures.

Almost a decade later, the founders seemed to have proven that seaweed can be an excellent raw material for clothing. After the Covid-19 period, Kelsun's profile grew rapidly through collaborations with major names. For instance, Kelsun created a fine-knit tank top for Stella McCartney (2023); a cotton shirt from the Californian brand Outerknown (2025) contained one-third Kelsun; and finally, H&M and & Other Stories (2025) released a capsule collection featuring the material.

In 2024, in an interview with FashionUnited, the company expressed its satisfaction at having overcome the most difficult growth phases of a scale-up. Garments featuring Kelsun entered the market in batches of over 100 units at a competitive price point. The “next-gen”, sustainable material seemed ready for the mainstream fashion system.

While the current bankruptcy filing does not necessarily mean Keel Labs is ceasing operations, it does raise questions. What is needed to run a viable business in the alternative fibre segment? How can a small company produce scalable, high-quality, lower-impact fibres while simultaneously maintaining a healthy cash flow?

River Island has reportedly returned to profitability following a major restructuring programme, with the retailer posting a pre-tax profit of 11.6 million pounds for 2025.

The result marks a significant recovery for the British fashion chain, which recorded an operating loss of 65.3 million pounds in 2024 and only just avoided administration before launching a business-wide turnaround plan last year.

The restructuring included the closure of 33 stores, rent reductions across dozens more locations and changes to the leadership team, including the return of Ben Lewis as chief executive.

Speaking to The Mail on Sunday, Lewis said he was “very pleased and optimistic” about the results, adding that the company’s actions had been creating a “rapid impact” on performance.

Looking ahead, River Island plans to invest further in digital growth and open new stores across the UK and Ireland. The retailer has also recently expanded its wholesale reach through Marks & Spencer’s online marketplace and increased its focus on brand collaborations.

Despite the improved performance, Lewis warned that rising costs continue to weigh on retailers. “You either must manage these costs, or you must get the economy to grow,” he told the media outlet.

Online resale platform ThredUp has launched a new peer-to-peer selling feature, marking an expansion beyond its traditional managed resale model.

The new offering, dubbed Direct Listing, is being introduced in open beta and allows users to list individual items for sale directly through ThredUp’s marketplace. The move means sellers can now choose between the company's existing Clean Out service, where ThredUp handles the resale process, and a self-managed option for higher-value products.

Direct Listing enables sellers to set their own prices and access the platform's existing customer base, while the company uses AI tools to automate product descriptions, pricing suggestions and image editing. ThredUp will also manage returns on behalf of sellers.

The company said early testing showed strong demand for premium inventory. During the beta phase, nearly 18 percent of listed items were priced above 100 dollars, while the average selling price reached 60 dollars, more than double the average value of products sold through ThredUp's traditional marketplace.

ThredUp added that the addition of peer-to-peer selling is intended to broaden its appeal to consumers looking to resell individual high-value items while continuing to support large-scale wardrobe clear-outs through its existing services.

The launch reflects growing demand for more flexible resale models as consumers increasingly participate in secondhand fashion through a mix of managed and peer-to-peer channels.

Fast fashion giant Shein has opened a new e-commerce logistics centre in Dublin, Ireland, as it expands its regional fulfilment network in response to growing demand.

The new 16,000 square foot facility is located in Greenogue Business Park in Rathcoole, and will support 30 jobs across warehouse and office roles, RTE reported.

In a statement to the media outlet, Shein’s corporate communications director, Robin Kiely, said the company was proud to expand its operations in Ireland, a country which “plays an important role in our wider European growth strategy”.

Kiely added that “this investment strengthens our ability to provide improved, more efficient services for customers across the country”.

“The new facility also creates additional warehouse and office roles locally, while supporting our long-term commitment to investing in infrastructure, technology and operational capability across Ireland and Europe,” he continued.

The introduction of the Dublin site builds on broader efforts by Shein to grow its European logistics footprint.

The company opened a primary distribution centre in Wroclaw, Poland, last year, which was followed by a logit logistics warehouse in the UK Midlands that opened last month.

In Ireland, Shein is currently facing an inquiry by the Irish Data Protection Commission over concerns of personal data transfers between the EU/EEA and China.

The company has also been issued a 22 million euro fine from the French government over allegations related to product traceability, environmental claims, withdrawal periods and delivery times.

European fashion retailers lose over 12 billion euros (13.88 billion dollars) annually on clothing and a further 2.7 billion euros on jewellery and handbags. This is according to research by the European Union Intellectual Property Office (EUIPO), which enforces intellectual property.

The EUIPO states that consumers are willing to pay more for ‘designed’ products like fashion, furniture and electronics. This means there is added value in the design element, which makes design-intensive markets vulnerable to counterfeiting.

Social media makes it even easier for cheap knock-offs to reach the mainstream. In the EUIPO's research, over a tenth of respondents admitted to knowingly purchasing counterfeit goods. For Gen Z consumers under the age of 24, this figure rises to more than a quarter.

Around 28 million EU citizens work in design-intensive sectors, contributing 16 percent to the gross domestic product. The EUIPO therefore strongly advises companies to officially register their designs. Registering a simple product costs 350 euros. The rights are valid in all member states and can be renewed every five years, up to a maximum of 25 years.

Lifestyle Retail Group (LRG) is rebranding as Secret Sales Group to reflect the scale of its off-price retailer, Secret Sales, and an industry shift towards tech-led platforms.

The name change will only apply to the group’s corporate identity, with consumer-facing brands to retain their existing names and operations.

While Secret Sales itself has “become one of the most recognised names in European off-price retail”, Chris Griffin, CEO of Secret Sales Group, said momentum was being seen across the group’s wider portfolio and core markets.

Next to Secret Sales, the company also operates via a slew of international platforms acquired in recent years, including Germany’s Dress for Less; Spain’s Dreivip; and Sweden’s Afound. Such deals have allowed the group to globally expand, leveraging existing consumer bases while also applying its own infrastructure.

This growth has continued into 2026, during which the company has added 150 sellers, more than 500 brands and increased available inventory by over 100 percent.

“Those numbers demonstrate the growing demand from brands and retailers for a pan-European solution that allows them to efficiently monetise excess inventory while maintaining control of pricing, presentation and brand positioning,” Griffin said.

He continued: “The retail landscape is changing rapidly. Brands are increasingly moving away from traditional clearance models and towards technology-led solutions that give them greater control, greater flexibility and better outcomes.

“We believe that shift is only just beginning. Our ambition is simple: to become the first place brands think of when they need to efficiently distribute excess inventory across Europe. The combination of AI, automation, data and scale is helping us get there faster than ever."

StockX is venturing into a new field. The resale platform has announced the launch of a real-time live shopping experience, bringing it into the social commerce space.

Due to debut in summer, ‘StockX Live’ will allow buyers to participate in live auctions, giveaways, and live chats enabling direct seller-buyer engagement.

Its initial rollout will focus on building communities of buyers and sellers within categories like sneakers, apparel, collectibles and vintage fashion, with further categories to follow post-launch.

Sellers will be backed by dedicated marketing support and a Live team, while having the potential to reach the platform’s existing 30 million unique monthly visitors.

The feature will be available to all US iOS customers across mobile and web platforms.

For StockX, the launch marks an evolution into a “multi-experience marketplace built for the next generation of commerce”, a “natural extension” of the platform itself, the company’s CEO, Greg Schwartz, said.

“We’ve spent years building a scaled, trusted, and transparent marketplace and now we’re bringing all of that into a live experience. I couldn’t be more excited to get this product in front of our community later this summer,” Schwartz added.

Asics Corporation has announced plans to spin off its Onitsuka Tiger business. The company's Board of Directors has approved the transfer of the business to OT Group, a wholly owned subsidiary of Asics, through a simplified absorption-type company split. The restructuring is scheduled to take effect on January 1, 2027.

Under the new structure, Onitsuka Tiger will operate with greater independence, while the brand's activities within existing regional subsidiaries will also be reorganized globally under OT Group. Asics said the move reflects the brand's rapid international growth, expanding market presence and rising recognition as a luxury lifestyle label.

Asics to separate Onitsuka Tiger

The Japanese sportswear company noted that Onitsuka Tiger has successfully strengthened its position in the premium segment through the expansion of its directly operated retail network. By establishing an independent operating structure, ASICS aims to accelerate decision-making, enhance competitiveness tailored to the brand's luxury positioning, improve transparency of business performance within the broader group, and strengthen governance and management accountability.

The transaction qualifies as a simplified absorption-type company split under Japan's Companies Act and therefore does not require approval from Asics shareholders. As part of the restructuring, OT Group will issue 400 common shares, all of which will be allotted to Asics. The company added that there will be no change to its stated capital or stock acquisition rights as a result of the transaction.

Onitsuka Tiger to be reorganized globally under OT Group

OT Group, established on February 25, 2026, will serve as the global headquarters for the Onitsuka Tiger business. Although the subsidiary has yet to report financial results, it is expected to oversee operations spanning approximately 160 countries and regions. The business will be supported by regional sales hubs in Japan, China, Europe and Southeast Asia, a global network of around 190 directly operated stores, and a workforce of approximately 2,800 employees, including 550 office-based staff and 2,250 retail employees.

Asics said the reorganisation is intended to position Onitsuka Tiger for its next phase of growth as a global luxury lifestyle brand. As the transaction involves a wholly owned subsidiary, the company expects the impact on its consolidated financial results to be minimal.

The American Apparel & Footwear Association (AAFA) published its first Global Apparel, Footwear & Accessories Glossary of Traceability Terms on 3 June 2026 — a voluntary, open-source reference that defines the vocabulary of supply chain traceability, from "chain of custody" to "forensic tracing."

For brand owners navigating the EU's Digital Product Passport (DPP), the timing is no accident. The DPP, mandated under the Ecodesign for Sustainable Products Regulation (ESPR), will require brands to attach structured, verifiable lifecycle data to their products. But before data can flow, everyone in the chain — brands, mills, software vendors and regulators — needs to mean the same thing by the same words. The glossary targets exactly that gap.

It is not, however, a DPP manual. The AAFA document defines the physical supply chain and its paperwork — tiers, roles, materials and trade documents — with a distinctly American accent, emphasising origin verification and forensic methods tied to US forced-labour enforcement. The EU framework, by contrast, is binding law centred on sustainability and circularity data. The two overlap on shared concepts but carry different DNA.

The impact cuts both ways. For US brands selling into Europe, the glossary offers an on-ramp to DPP-readiness in familiar language. For European brands, it signals that US industry wants a seat at the table as global traceability standards take shape — and a chance to align terminology before ISO develops its global framework from 2028.

The risk is real: if AAFA's terms and the EU's drift apart, the industry gains a third dialect rather than a shared one.

Online giant Amazon will introduce next-generation AI warehouse robots that are designed to respond to conversational prompts in its European warehouses to improve its deliveries. The upgraded Proteus robot was unveiled by Amazon at an event in its Dartford ​fulfilment center east of London, and is part of a broader 10 billion euro investment in improving its European fulfilment network. 

The new Proteus robot builds on its predecessor and is designed to take on physically demanding tasks, such as moving heavy carts and covering large distances, so warehouse workers can spend more time on managing inventory flow and quality control, according to Amazon. The current Proteus robot, introduced in 2022 as Amazon's first fully autonomous robot and in use at 25 fulfilment centers across the United States, is used in docking areas to move carts weighing close to 400 kgs (882lbs). 

The upgraded version, which will be launched in Europe during the first half of 2027, can travel farther and be used across the entire warehouse, transporting containers from the arrival site to workstations. The next-gen Proteus, roughly the size of a 50-inch flat screen TV, also reacts to conversation cues, making it easier for workers to instruct it. "You tell it what needs to be done. It figures out the priority, the route, the timing," said Scott Dresser, vice president of Amazon Robotics, in a statement. "It becomes your assistant for material movement."

In addition to unveiling the next-gen Proteus, Amazon also presented Stark, a robotic tote-handling system that stemmed from an operations employee idea to improve process and support site safety. The collaborative system is designed to pick full totes from conveyors and place them on carts, reducing repetitive heavy lifting for warehouse workers. First piloted in Barcelona, Amazon plans on rolling it out to 15 European fulfilment centers by  2027. Amazon also showcased Vulcan, its first-ever robot with a sense of touch, designed to handle more complex picking tasks at Amazon's Hamburg facility in Germany.

"This transformation is designed to deliver a step-change in how we support our employees and serve our customers," said Armin Cossmann, vice president of operations for Europe. "Customer expectations aren't slowing down—and neither are we."

As part of its investments in Europe, Amazon is set to increase its European fulfillment center workforce by 25,000 over the next few years. The news comes as Amazon plans to open three new fulfillment centers in France, creating a total of 8,000 new permanent jobs. "Europe is at the center of how we're building our operations for the future," added Dresser. "The investment we're making here, the talent we're building with here, the technology we're deploying here—this is where the next chapter of operations innovation is being written."

Chinese sportswear brand Li-Ning is continuing to push its global strategy plans with a new long-term partnership with basketball star Stephen Curry, who parted ways from his previous partner Under Armour last year.

In a statement, Li-Ning said the partnership with Curry is built on “long-term brand co-creation,” with a focus on multi-category performance product development and sports culture initiatives, as well as commitment to engage the next generation of athletes as it looks to “shape what's next for global sports brands”.

The deal will see NBA star Curry wearing Li-Ning basketball sneakers on court, with the Golden State Warriors player stating he was impressed by the Chinese company’s technological innovation and product performance capabilities.

Commenting on the partnership, Curry said in a statement: "The quality, comfort and performance of their shoes are what impressed me the most. That experience gave me real confidence in Li-Ning sneakers on the court and helped me see that Li-Ning could be the right partner to deliver the innovation and design I want Curry Brand to stand for."

The move will also see Li-Ning backing his Curry Brand, which originally launched in 2020 as a sub-brand under Under Armour. When he left the American company, he kept full ownership of all his logos, trademarks, and intellectual property.

NBA star Stephen Curry finds a new home at Chinese sportswear brand Li-Ning

Li-Ning adds that it plans to advance the global development of the Curry Brand, starting with basketball and golf, before extending into broader consumer lifestyle sport categories. The Chinese giant also said it has plans to open stores in China and the US, as it continues expanding its global footprint.

Curry added: "When I think about the future of Curry Brand, I think about building something that lasts, something that continues to push the game forward and creates real impact for athletes around the world.

"That's what makes this partnership with Li-Ning so exciting. Mr Li Ning built this company from the perspective of an athlete, with the same belief that sport can change lives and inspire the next generation. I felt that in the conversations we've had and in the product I've tested. The quality, performance and innovation are real, and it instils confidence in what we can create together across basketball, golf and lifestyle.

“For Curry Brand, this is about growing the right way, with a partner that understands the standard we're trying to set and the good we want to do."

World-renowned Olympic gymnastics champion Li Ning founded the sports brand in 1990, shaped around his experiences of sport and performance, offering footwear, apparel and hard-goods equipment for basketball, running, fitness, badminton, table tennis, and sports lifestyle, and in recent years expanding into outdoor, tennis, and pickleball.

It has grown into one of the top sportswear and athletic equipment companies in China, reportedly pulling in around 4.3 billion US dollars in annual revenue. While the majority of Li-Ning's revenue has come from inside China, the company is hoping that its landmark partnership with Curry will boost its global presence.

"Sport has the power to ignite passion and inspire each generation to push beyond its limits," said Li Ning, founder and chairman of Li-Ning Company. "Li-Ning and Curry share a deep understanding of sport and a common commitment to performance, innovation and the next generation of athletes. We look forward to building on this partnership to keep pushing boundaries and create new possibilities for global sport."

Madrid – The Valencian company Recover has announced its entry into the recycled cotton yarn market. This move advances its dual objective of establishing itself as the global benchmark for sustainable solutions in the fashion industry, while also promoting its evolution towards a more environmentally committed model. The offering is available to manufacturers and brands from today through its new family of recycled cotton yarns, “Recover Yarns”.

According to the Valencian company's management, Recover is launching “Recover Yarns” to accelerate the use of recycled cotton throughout the textile and fashion value chain. This new and first range of finished, ready-to-use recycled cotton yarns is being made available to brands and manufacturers of all sizes by the Spanish company, a leader in textile innovation and one of the world's largest producers of recycled cotton fibres. Externally, the launch advances the company's goal of driving the textile industry's transformation towards a more sustainable model. Internally, Recover completes its business model and diversification strategy. It is now an integrated platform offering sustainable, industrial-scale solutions for manufacturers and brands, ranging from recycled cotton fibres, to fabrics and finished garments, and now yarns.

“By transforming our fibre into ready-to-use yarns, we make it easier for brands and manufacturers to move from ambition to implementation of their sustainability strategies,” stated Anders Sjöblom, chief executive officer of Recover, in a statement shared by the textile company. With the launch of this new yarn vertical, the company now operates as “a fully integrated ecosystem encompassing fibre, yarn, fabric and finished garment, connecting every stage of the value chain under the umbrella of a reliable brand, guaranteeing clarity, traceability and circularity” for its customers, “from raw material to finished product”.

An adaptive solution for any scale, use and destination

Available for purchase from today, Recover highlights the unique characteristics of its new recycled cotton yarn family. The company emphasises its value as a flexible solution adaptable to multiple uses, production scales, and manufacturing origins and destinations. These features make the collection an optimal solution for any active participant in the textile and fashion industry.

The new yarns, developed in collaboration with Recover's existing global network of spinning mills, offer a wide variety in terms of composition, blends and technical capabilities. This diversity allows them to be used for applications ranging from jeans and denim garments to jumpers, workwear and fleece linings. The Valencian company highlights that thanks to its global network of over 150 collaborating spinning mills, the “Recover Yarns” range can support brands in any geographical location, regardless of their required production volume.

The “Recover Yarns” respond “to the need for adaptable product solutions that allow the integration of recycled cotton at an industrial scale,” noted Enes Adak, product director at Recover. The textile company highlights that its new yarns “simplify the sourcing and development of recycled cotton yarns” within the industry. They offer “a versatile range of options and yarn collections that adapt to market needs, innovative blends and technologies.” This “adaptive approach” ensures the “Recover Yarns” platform can support brands of all sizes in terms of volume, geography, price points and end uses, while facilitating long-term collaboration with business partners. The company reiterates that it offers “a flexible and scalable solution that evolves alongside the production and sustainability strategies” of industry players, “keeping recycled cotton at the heart of its portfolio” of solutions.

The Competition and Markets Authority (CMA) in the UK has opened a formal review into Ebay’s planned acquisition of Gen-Z focused fashion resale platform Depop, to determine the “impact that the transaction could have on competition in the UK”.

The UK’s competition regulator said it has finished the first part of its information-gathering process and closed its invitation to comment, which allowed interested parties to comment on the proposed transaction.

According to the CMA, the merger inquiry will run until August 6, when it will then clear the deal or suggest further investigation.

Ebay announced in February that it planned to buy Depop from Etsy for approximately 1.2 billion US dollars in cash, with the acquisition expected to close in the second quarter of 2026.

The deal is expected to help Ebay expand its reach among younger shoppers, as nearly 90 percent of Depop’s 7 million active buyers are under 34.

In February, Jamie Ianonne, chief executive officer of Ebay, said: “Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category, and we are confident that as part of Ebay, Depop will be even more well-positioned for long-term growth, benefiting from our scale, complementary offerings, and operational capabilities.”

Washington - The United States released an updated list on Monday of Chinese companies it considers to be aiding the country's military.

The list includes, among others, e-commerce giant Alibaba, search engine provider Baidu and electric vehicle manufacturer BYD.

The US Department of Defense announced the designations just weeks before President Donald Trump was due to meet Chinese leader Xi Jinping in Beijing, as both sides sought to maintain stability in their bilateral relationship.

The Pentagon's update comes months after it released—and then withdrew—an earlier version of the list without explanation.

The new list is largely similar to the version briefly published in February.

Two memory chip manufacturers were reinstated to the blacklist after being removed at that time: ChangXin Memory Technologies and Yangtze Memory Technologies.

“This updated list of Chinese military companies is a warning to American companies, all levels of government and the American people,” said representative John Moolenaar, republican chairman of the House Select Committee on China.

In a statement, he urged US companies to “stop doing business with these threats to our national security” or risk “facilitating China's military rise”.

Among the companies affected are also some of China's leading technology giants involved in the artificial intelligence race, such as Alibaba, Baidu and Tencent.

Baidu rejected its inclusion on the list in a statement on Chinese social media, calling the accusations “completely unfounded”.

“The claim that Baidu is a military company is completely baseless. We will not hesitate to use all resources at our disposal to have the company removed from the list,” a spokesperson said.

Alibaba called its inclusion on the list “a mistake” and threatened legal action.

“Alibaba Group is not a Chinese military company nor is it part of any military-civil fusion strategy,” the company said in a statement.

Trump invited Xi to visit Washington in September. The list could stoke tensions between the world's two largest economies.

Madrid – British investment group Cap Capital is finalising the details of the new strategic plan for the relaunch of Pronovias. This follows the court-ordered award of its production unit to the investment holding company by the Commercial Court No. 9 of Barcelona. The fashion group has just revealed the main key points of this roadmap.

According to information from Pronovias' management, the bridal fashion group is entering a new chapter under the control of Cap Capital. The company has stressed that it will continue to focus on developing and growing based on the same pillars that have “defined its trajectory”. These pillars have led it to become a historic mainstay of the bridal world, stemming from its role as a pioneer in bridal prêt-à-porter. These pillars are identified by its firm commitment to design, quality, innovation and its international focus.

Building on this foundation, Pronovias is entering a new phase. The bridal fashion group highlights that the “new Pronovias” under Cap Capital's control will maintain its main objective of promoting a renewed business model. This model will be more modern, more connected and better prepared to lead “the next evolution of the bridal sector”. They emphasise that this framework will be supported by the “stability” and “long-term” vision with which the British investment group has taken control of the historic Spanish bridal fashion group. The company will focus on implementing strict operational discipline to boost its growth. The aim is to return the fashion group to its position as a leading and benchmark company at the forefront of the bridal world.

“The company is facing this new cycle with a clear objective”, which involves “strengthening the shopping experience, evolving the boutique model and accelerating its international growth through a stronger, closer and more connected commercial network that meets the needs of brides”, Pronovias' management stated. “In this context”, they added, “franchises will play a key role in expanding the brand's presence and accelerating its development in strategic markets”.

Franchises, the United States and AI

Delving into this new strategic plan, Pronovias has announced that it will be officially presented on September 8, 2026. During this event, the bridal company will also present its new store concept, “designed to elevate the shopping experience, strengthen the connection with customers and open a new stage of growth for the brand”. It is positioned as one of the main pillars of the roadmap, alongside a strong focus on the United States and advancements in the implementation of artificial intelligence (AI).

Regarding these three main strategic pillars in more detail, Pronovias has confirmed the “key role” that franchised stores will play in the new commercial and business structure of the “new Pronovias”. This commitment to the franchise model will be complemented by the company's reduced and well-maintained network of own-brand stores. The number of stores is expected to shrink significantly from the 53 it operated before the acquisition by Cap Capital. This aligns with the investment holding's intention to reduce the company's operating expenses, as stated in its acquisition proposal for Pronovias.

The second strategic pillar is a sustained commitment to internationalisation, which will translate into a decisive and prioritised offensive in the US market. In this country, Pronovias will seek to strengthen its presence and increase its consolidation through a more local and competitive offering and experiences. At the same time, the company remains firm in its determination to continue strengthening its position in Europe.

Finally, the third pillar, which ties in with the previous points, is the key role that new technologies, especially artificial intelligence (AI), will play in this new chapter for Pronovias. This point initially creates some friction and reveals potential risks. Technology itself, and even more so AI, tends to feel cold, distant and disconnected. These feelings do not align with the emotional universe on which the bridal industry is based. However, Pronovias is developing a project “aimed at redefining the bridal experience, integrating inspiration; personalised advice; customer knowledge; and commercial capabilities into a more connected ecosystem”. More details about this initiative are expected to be revealed at the September presentation. It will seek to “improve the bride's experience and enhance the relationship between the brand, the ‘boutiques’ and its international network”.

“We are starting a new phase focused on strengthening our distribution channels, evolving the in-store experience and accelerating our international growth,” summarised the management of Pronovias. For this new chapter, “we want to be closer to brides, offer an increasingly personalised experience and continue to expand our presence in key markets such as the United States”. They added that in pursuit of these key priorities and objectives, “technology and artificial intelligence will be fundamental tools to accompany this transformation and build the future of the bridal experience”.

South African specialty retail group TFG (The Foschini Group) reported a 29.4 percent increase in sales to 488 million pounds (652 million dollars) for its TFG London division during the financial year ended March 31, 2026.

The growth was primarily driven by the recent acquisition of British fashion brand White Stuff, which performed well and recorded pro forma sales growth of 4.3 percent. Excluding the impact of the White Stuff acquisition, legacy UK turnover remained flat in pounds. Management attributed the stagnant organic sales to a highly constrained discretionary consumer spending environment across the UK, which has been severely impacted by elevated living costs and subdued consumer confidence.

Operations hit by category weakness and cyber disruption

The performance of the legacy TFG London brand portfolio was negatively affected by several operational headwinds during the 12-month period. Key factors included:

Weakness across core occasion-wear categories;

Softer overall trading volumes within department store concession channels;

Significant operational disruption resulting from a major cyber incident that affected a key online concession partner.

Negative leverage pressures operating profit

Although regional management remained focused on protecting operating profit margins through targeted cost containment and reduction initiatives, the flat organic sales generated severe negative operating leverage.

Consequently, segmental EBIT declined by 65.4 percent before accounting for brand impairments and the acquisition costs incurred in the prior financial year.

Reflecting a deterioration in long-term cash flow expectations under current economic conditions, the parent group recognised non-cash impairment charges against its UK-based Phase Eight brand. Moving forward into the next financial year, profitability for TFG London will remain heavily dependent on disciplined gross margin protection and strict cost management.

French womenswear prêt-à-porter brand Grain de Malice is exploring its entry into the Spanish market. This will be through a franchise-based expansion model and the search for a local operator. The brand already reaches Spain indirectly through its digital channel, with a presence on platforms like Zalando.

The company, which specialises in mid-range womenswear, is planning this move as part of its international growth strategy. It already operates more than 200 points of sale outside its home country.

Founded in 2007, the brand has positioned itself in the accessible womenswear segment. Its collections are aimed at women over 35 and sizes range from approximately 36 to 50. Its offering focuses on garments designed for different body shapes, with a stated emphasis on comfort, fit and in-store advice.

The planned expansion model for Spain is based on a commission-affiliation system. Under this system, the brand would retain ownership of the stock and the franchisee would act as a point-of-sale, receiving a commission on turnover. The estimated initial investment is around 100,000 euros, with an entrance fee of 12,000 euros, no royalties, and a marketing fee of 2 percent plus an additional 1 percent. The planned stores have an average area of around 160 square metres, with five-year contracts and a minimum population requirement of 40,000 inhabitants.

On a corporate level, the company has undergone significant changes in its shareholding structure in recent years. After being linked to the Mulliez group ecosystem, it was acquired in 2023 by an investment consortium. This consortium was formed by Groupe Philippe Ginestet, the FE2T fund and its current management team. This change has been accompanied by an acceleration of its retail expansion and a greater commitment to international growth.

British women’s fashion brand Wyse London has appointed former Boden executive Cathy Newnes-Smith as its new chief executive officer, with immediate effect.

Newnes-Smith joins Wyse London following three and a half years as CEO of British lingerie and sleepwear brand Stripe & Stare, where she led the business through a significant period of growth and brand development.

Prior to this, Newnes-Smith spent 12 years at British clothing brand Boden, most recently serving on the executive leadership team as chief design and customer experience officer. In this role, she oversaw product design, buying, content and brand marketing, as well as creative and creative services.

In a statement, Wyse London said that Newnes-Smith brings “extensive experience” across brand building, customer experience, creative leadership and commercial growth, and will lead the brand through “its next chapter as the business continues to expand both its retail presence and digital offering”.

Commenting on the appointment, Marielle Wyse, founder of Wyse, said: "Cathy brings a wealth of experience and a deep understanding of our customer, making her an exceptional fit for Wyse London and our ambitions for the future. Her values, vision and commercial expertise are closely aligned with who we are as a brand and where we are heading.

“Both personally and professionally, I have enormous admiration and respect for Cathy. I have every confidence that she is the right person to lead Wyse through its next chapter, building on our strong foundations and driving the business forward as we continue to grow.”

Newnes-Smith added: "I am delighted to be joining Wyse, a brand I have admired for many years. Marielle and the team have always put customers at the heart of Wyse, understanding the power of clothes to give confidence, strength and joy.

“I am very much looking forward to working with Marielle and the team to continue growing the Wyse community in the years to come."

Founded in 2014, Wyse London began as a colourful cashmere brand and has grown into a full lifestyle label spanning knitwear, dresses, denim and outerwear. The contemporary brand also has a growing retail presence in the UK with stores in London, York, Burnham Market, and Southwold.

Portuguese technology company Smartex has added a colour measurement and control tool for the textile industry to its solutions portfolio, strengthening its digitalisation offering for dyeing and manufacturing companies. The new solution, named Smartex CTRL Color, is now available in Europe. It is part of a broader strategy combining technological development, a closer relationship with fashion brands and a future funding round aimed at accelerating the company's international expansion.

The product was originally developed by a British company and is now integrated into the Smartex ecosystem. According to Portugal Textil, it allows for the automatic detection and monitoring of colour variations in knitted fabrics. With this addition, the company completes one of the capabilities it had not yet covered within its platform, which until now had focused mainly on the automatic detection of defects during manufacturing processes.

The integration of CTRL Color aligns with the company's vision of building a digital infrastructure capable of connecting various textile manufacturing processes. Beyond developing inspection systems, Smartex aims to consolidate a platform that allows for the capture and management of production data throughout the entire value chain, from fabric manufacturing to garment construction. The company has even developed a label that can adhere to textiles and withstand the chemical processes typical of the dyeing stages.

As Gilberto Loureiro, president of Smartex, explained a couple of weeks ago at the ETP annual conference, colour measurement represents one of the most complex challenges in textile quality control and is a leading cause of product rejection in the final stages of production.

This commitment to digitalisation has also led the company to invest nearly two million euros in traceability and Digital Product Passport (DPP) technologies. Although the adoption of these solutions remains limited, especially outside of Europe, Smartex believes that future regulatory changes will ultimately drive their development. Currently, Portuguese companies such as Impetus, Familitex, Acatel and Tintex are already using Smartex Loop, the platform developed by the company to manage traceability and production information.

The company has also entered a new organisational phase with the appointment of Max Easton as chief executive officer, while Gilberto Loureiro has taken on the presidency. The change aims to strengthen the direct relationship with fashion brands, an area the company considers strategic for accelerating technological adoption in the supply chain. Although Smartex already collaborates with groups such as H&M, Inditex and Calvin Klein, the company acknowledges that there is still significant growth potential in this segment.

With nearly 80 employees, a presence in more than ten countries and over 45 million euros raised since its founding, Smartex is now preparing for the next phase of its development. The priority is to consolidate its solutions for finished fabric and strengthen its positioning among international brands. In parallel, the company is considering a new funding round to accelerate its expansion and broaden the reach of its technological proposal, with which it aims to become one of the leading digital partners in the global textile industry.

British certified B Corp underwear and sleepwear brand Stripe & Stare has appointed co-founder Katie Lopes as its new chief executive officer.

In a statement, Stripe & Stare said that Lopes appointment marks a “new chapter” for the brand, and will see her leading the next phase of its “ambitious global expansion” plans.

Lopes co-founded the lingerie and sleepwear brand in 2017, where she spearheaded the six years of research and development for the brand’s signature knickers, which are crafted from Tencel fabric, 95% biodegradable and claim to offer a fit where the style doesn’t ride up or dig in.

The female-founded brand now generates more than 10 million pounds in annual revenue and has evolved into a thriving global direct-to-consumer business, disrupting a category traditionally dominated by heritage players. Its stockists include Selfridges, Shopbop and Nordstrom.

Stripe & Stare strive to become the leading comfort-led underwear brand

Commenting on the appointment, Tracy Lewis, board chair of Stripe & Stare, said: “Katie has been the heartbeat of Stripe & Stare since day one. Her passion, entrepreneurial spirit and unwavering commitment to our customers and community have helped build an extraordinary brand.

“She is uniquely positioned to lead Stripe & Stare into its next era of growth, and we're all so excited to see the business reach even greater heights under her leadership.”

As CEO, Lopes is being tasked with making Stripe & Stare the world's leading comfort-led underwear brand, through accelerating investment in product innovation, deepening customer relationships, and expanding its international footprint, as well as further strengthening its environmental commitments.

Lopes said: "Stepping into the role of CEO is both a privilege and an incredible opportunity. Eight years ago, we set out to create underwear that women never wanted to take off. Today, Stripe & Stare is so much more than a lingerie brand, it's a community, a movement and a business proving that purpose and profitability can thrive together.

“I'm enormously proud of what we've built and incredibly excited for what's next as we continue to scale globally, innovate relentlessly and bring the world's most comfortable knickers to even more women around the world."

The UK-based online department store Debenhams and UK-based beauty manufacturer Revolution Beauty have entered into a new licensing partnership to develop beauty and fragrance products across the Debenhams Group portfolio.

The partnership combines the reach of the fashion and lifestyle brands belonging to Debenhams Group with the product development, manufacturing, and distribution capabilities of Revolution Beauty.

The initial collections are scheduled to launch ahead of Christmas. The initial rollout will include fragrance and gifting ranges for brands including PrettyLittleThing, Karen Millen, and BoohooMan. Further beauty and fragrance launches are planned across additional portfolio brands, with distribution spanning internal channels and selected retail partners.

Shift to asset-lite model

The agreement operates under a royalty-based license structure. Revolution Beauty will assume complete responsibility for product development, manufacturing, and worldwide distribution. In return, the manufacturer will pay an industry-standard royalty based on sales to Debenhams Group, which retains approval rights over all products, packaging, marketing, and retail channels.

Dan Finley, chief executive officer of Debenhams Group, stated: “We have been clear that we see significant global licensing opportunities for our brands, and this agreement with Revolution Beauty is a direct expression of our asset-lite strategy in action. Beauty is one of the most compelling category opportunities available to us and Revolution Beauty has the capability and relationships to bring tailored collections to market across the full portfolio.”

Finley added that the transaction aligns with the strategy of generating recurring royalty income from its intellectual property portfolio. The move aims to extend its brands into high-growth adjacent categories and accelerate the corporate transition to an asset-lite business model.

Resetting corporate retail relations

The partnership marks a formalized alignment between the two UK companies following a period of strategic restructuring.

Tom Allsworth, chief executive officer of Revolution Beauty, said: “The team at Revolution is already at an advanced stage in developing fragrance products that will launch nationally and internationally through a number of our retail partners. The early reaction to the concepts we have tested has been exceptionally positive.”

Allsworth noted that since returning to the business last year, the relationship with Debenhams Group has been completely reset. The CEO expressed confidence that by combining brand strengths with manufacturing expertise, the licenses represent a significant growth opportunity for both businesses.

US fashion group G-III Apparel Group (G-III) has reported its financial results for the first quarter of fiscal year 2027, ended April 30, 2026. The company reported net sales of 536 million dollars, representing an 8 percent decrease compared to the same period of the prior year.

Despite the revenue decline, net income for the first quarter increased to 66.50 million dollars, or 1.50 dollars per diluted share, including a 77.90 million dollar benefit under the International Emergency Economic Powers Act. On a non-GAAP basis, net income per share for the first quarter was a loss of 0.21 dollars per share, compared to an income of 0.19 dollars per diluted share last year, while gross margin increased by 2,270 basis points to 64.9 percent.

G-III chairman and chief executive officer, Morris Goldfarb, stated: “The quarter was better than expected with both our net sales and earnings coming in ahead of guidance. Our go-forward portfolio saw continued momentum and healthy full-price selling, which contributed to meaningful gross margin expansion versus the prior year.”

Strategic acquisition of Marc Jacobs

The financial report follows the company's recently announced definitive agreement to acquire the US designer brand Marc Jacobs in partnership with brand management firm WHP Global. The transaction will establish a 50/50 joint venture to hold the intellectual property of the brand, with G-III managing the global operating business.

Goldfarb added: “Marc Jacobs is one of the most influential brands in fashion, and we see tremendous opportunity to build on its strong foundation and drive long-term growth across categories, channels, and geographies.” The current financial outlook does not incorporate any potential impact from this pending transaction.

Revision of fiscal year 2027 earnings outlook

Based on the first quarter performance, G-III has updated its financial guidance for the full fiscal year ending January 31, 2027. Net sales are projected to reach approximately 2.71 billion dollars, down from 2.96 billion dollars in fiscal year 2026. This estimation accounts for an anticipated loss of approximately 470 million dollars in sales from Calvin Klein and Tommy Hilfiger products.

Full year net income is expected to range between 171 million dollars and 175 million dollars, with diluted earnings per share between 3.85 dollars and 3.95 dollars. This is an increase from the net income of 67.40 million dollars reported in fiscal year 2026. Non-GAAP net income is projected between 95.00 million dollars and 99 million dollars, down from 116.20 million dollars in the prior year. Adjusted EBITDA is forecast between 178 million dollars and 182 million dollars, compared to 192.40 million dollars in fiscal year 2026.

For the second quarter ending July 31, 2026, G-III expects net sales of approximately 570 million dollars, compared to 613.30 million dollars in the second quarter of the prior year. Second quarter net income and non-GAAP net income are both projected to sit between 7 million dollars and 11 million dollars, compared to 10.90 million dollars and 11.20 million dollars respectively in the same period last year.

The US bankruptcy court for the southern district of Texas has approved the reorganization plan of Saks Global Enterprises LLC (Saks Global), a US multi-brand luxury retail company. The plan gained support across the capital structure from participating creditors, with an overwhelming majority voting in favour. Confirmation of the plan allows the company to exit chapter 11 in the coming weeks with a strengthened financial foundation.

“Securing approval of our Plan is an incredible achievement for Saks Global, and the broad-based support we have received from our capital partners, brand partners and other key stakeholders reflects confidence in our future,” said Geoffroy van Raemdonck, chief executive officer of Saks Global. Van Raemdonck added that with the commitment of capital partners and the dedication of the team, the company is on track to emerge stronger and more focused, poised for profitable and sustainable growth.

Upon emergence, the debt of Saks Global will be reduced significantly, by nearly 75 percent, and the company will have the liquidity necessary to support operations and invest in its future. The plan establishes the foundation for the retailer to accelerate sales growth, with a focus on strong full-price selling. The company aims to generate 9 billion dollars in total gross merchandise value and double-digit adjusted EBITDA by fiscal year 2030.

Progress toward sustainable growth

Brandy Richardson, chief financial officer of Saks Global, noted that with significantly reduced debt on the balance sheet at emergence and having already achieved substantial cost savings through the optimization of its footprint, operations, and organization, the business is well positioned for future success.

In less than five months, Saks Global has progressed in evolving its business to support a more sustainable future. This includes establishing an improved capital structure and strengthening relationships with brand partners to facilitate the delivery of a curated product assortment.

The company has also optimized its store footprint and supply chain network to support its integrated retail model. This model is anchored by the best-performing stores in markets with a high concentration of luxury customers, alongside distinct e-commerce platforms and remote selling services. Saks Global has also focused on its core luxury business by streamlining the majority of its off-price business to prioritize luxury and full-price selling, while right-sizing the corporate team to align with this strategy.

The actions of the company are translating into sustained momentum. Store sales for the go-forward operations continue to show steady improvement, reflecting stronger customer engagement as a result of increased inventory.

Shares of Lululemon Athletica fell about 8 percent on Friday to an over seven-year low of 109.36 dollars, Reuters reported, after the activewear retailer cut its full-year profit forecast and signalled mounting operational pressures. The sharp selloff reflected growing investor concern about the pace of the activewear retailer's turnaround and the challenges facing incoming chief executive Heidi O'Neill, who is set to assume the role in September.

The earnings disappointment has intensified scrutiny of a business grappling with weakening brand momentum, rising competition and a series of product-related setbacks. The market reaction has also significantly compressed Lululemon's valuation, with the company now trading at roughly 10 times forward earnings, well below rivals such as Nike and Adidas.

Brand challenges and product missteps weigh on sentiment

Investor confidence has been undermined by concerns over both brand perception and product execution. Management acknowledged that recent sales trends were affected by negative media coverage and social media commentary linked to a prolonged proxy battle with founder Chip Wilson.

Wilson has publicly criticised the company's leadership, arguing that the brand has lost some of its premium appeal while attempting to broaden its market reach. Those concerns have been amplified by customer complaints regarding product quality and innovation.

The company faced backlash following the launch of its 108-dollar "Get Low" leggings, with consumers posting on social media that the garments were see-through. Other recent collections have also drawn criticism over fit, design and overall product quality, raising questions about Lululemon's ability to maintain its premium positioning.

Analysts warn of structural risks

The operational slowdown prompted French banking group BNP Paribas to downgrade the stock from Neutral to Underperform and cut its price target to 88 dollars, implying further downside from post-earnings trading levels.

In a research note, analysts Laurent Vasilescu, Aubrey Tianello and Leah Yang argued that the company's challenges extend beyond short-term execution issues and reflect deeper structural concerns that could persist through fiscal 2027.

Among the key risks identified was Lululemon's continued expansion of its store footprint despite declining comparable sales in the Americas, where same-store sales fell 5 percent. Analysts warned that the resulting fixed-cost pressures could weigh on profitability for several years.

They also pointed to what they described as a dilution of focus within the company's core business. Investments in newer categories, including footwear, self-care and technology products, have coincided with weaker performance in Lululemon's foundational yoga apparel business.

At the same time, growth in China—long regarded as one of the retailer's strongest expansion markets, has begun to slow. Excluding the benefit of a Chinese New Year calendar shift, comparable sales growth in the region moderated to approximately 5 percent.

Profitability under pressure

First-quarter results highlighted the scale of the financial challenges facing management.

Operating income declined 37 percent year over year to 276.95 million dollars, while operating margin contracted by 730 basis points to 11.2 percent. Net income fell to 195.05 million dollars, resulting in diluted earnings per share of 1.69 dollars, compared with 2.60 dollars a year earlier.

According to estimates cited by brokerage firm William Blair, Lululemon's full-year operating margin is expected to decline by approximately 380 basis points to 16.1 percent, which would represent the company's lowest margin level since 2006.

O'Neill faces high-stakes leadership transition

The pressure on incoming CEO Heidi O'Neill is mounting as analysts reassess the company's prospects. At least nine brokerages have reduced their price targets in recent months, with the median target falling from 205 dollars to 149 dollars over the past three months.

Investors remain uncertain whether management's strategy of increasing discounts on older inventory will be sufficient to stabilise demand and improve performance.

The challenge for O'Neill is compounded by the long lead times inherent in apparel manufacturing, meaning many product decisions for 2027 have already been made. As a result, investors will be closely watching whether she can oversee a successful product reset, restore confidence in the brand and reignite growth in North America while preserving Lululemon's premium market positioning.

Mystery shopping has long been a familiar tool in fashion retail for assessing in-store customer experience. Previously used primarily to monitor service agreements, its focus is increasingly shifting towards learning and improvement. Retailers now use insights from store visits as input for coaching, training and discussions on the shop floor. To better understand this development, FashionUnited spoke with fashion retailers, industry organisations and a retail expert.

Research agency Excap, based in Groningen and Antwerp, no longer views mystery shopping as a standalone measurement tool. It is now seen as part of a broader analysis of the customer experience. Arjen van Hijum, managing director of Excap, personally confirmed this to FashionUnited. The agency, which began with in-store mystery shopping over 20 years ago, now focuses on the entire customer journey, incorporating both physical stores and online touchpoints. “How a customer experiences a brand depends on many touchpoints,” stated Excap. Within fashion retail, the store remains a key moment for orientation, advice and trying on products.

According to Excap, retailers use mystery shopping for a variety of reasons. Brands use it to assess how their products are presented and recommended in stores. Other organisations use it to measure the extent to which employees apply trained sales techniques on the shop floor. Larger retail chains also use the tool to monitor whether brand values and desired practices are consistently implemented across different branches. The emphasis is often on aspects such as customer approach, product knowledge and the progression of the sales conversation.

G-Star and My Jewellery on mystery shopping as a development tool

FashionUnited spoke with G-Star and My Jewellery about their use of mystery shopping within their retail organisations. Both brands collaborate with the platform Secret View, using the tool systematically to measure the store experience with a strong focus on coaching and team development.

At G-Star, a mystery shopper visits every store each quarter to assess the customer experience based on predetermined criteria. The results are immediately accessible to store managers, who then discuss them with their teams. Pascal de Boer, retail director at G-Star, emphasises that the insights are used not just to measure performance, but to implement targeted improvements and share successes within the organisation. Dashboards also allow for the analysis of results at a regional, national or channel level, revealing broader trends.

My Jewellery also employs mystery shopping to monitor the experience within its physical boutiques. The focus is firmly on service as a key differentiator in its stores. According to the brand, the results provide insight into how customers perceive the store and highlight opportunities for improvement. These insights subsequently form the basis for training and coaching at both team and organisational levels.

Both retailers use dashboards to monitor performance and track developments. G-Star emphasises the systematic measurement and analysis of store performance. My Jewellery, however, explicitly uses the outcomes to further optimise the store experience, focusing on customer approach, product knowledge and visual merchandising.

According to both brands, the effectiveness of mystery shopping is closely linked to the internal application of its results. Transparency, a focus on development and the active involvement of store teams in the follow-up process are crucial. When insights are used as a basis for feedback and training, employees generally perceive the tool as both educational and motivating.

At G-Star, this approach has led to measurable improvements in store performance, with a consistent rise in mystery shopping scores between the first assessment in 2025 and the first in 2026.

More retail examples: Inno, Carhartt, Les Soeurs, Ziengs and Batavia Stad Fashion Outlet

G-Star and MyJewellery are not the only companies using mystery shopping services. Several providers offer these services in the Netherlands. Companies such as Inno; Carhartt; Les Soeurs; Ziengs; and Batavia Stad Fashion Outlet (in no particular order) work with Excap, for example.

According to the agency, each of these organisations uses mystery shopping to meet specific objectives. It is used to assess how brands are promoted within multi-brand environments; to test the application of sales and advisory skills training by employees; and to gain insight into the quality of sales conversations on the shop floor. Larger organisations also use the tool to monitor the consistent implementation of brand values, terminology and desired customer approaches across different branches.

More focus on omnichannel and speed

The application of mystery shopping is also shifting towards a broader view of the customer journey. There is a greater focus on the cohesion between online and offline channels, for instance by including e-commerce experiences or in-store return processes.

The speed of reporting has also increased. While results were previously available only after several weeks, clients now often expect insights via dashboards within a few days. “Our clients expect and, if requested, receive insight into results within 48 hours. This ranges from individual visit reports to a dashboard where we link various data sources,” stated Excap.

According to Excap, mystery shopping also requires a clear cost-benefit analysis. The initial investment can be a barrier for some organisations, with the return not always being immediately apparent. The agency emphasises that success depends partly on internal positioning. Excap notes that mystery shopping is more readily accepted on the shop floor when introduced as part of a broader vision for employee training and development, rather than as a standalone monitoring tool.

This approach aligns with the experiences of G-Star and My Jewellery, where mystery shopping is explicitly used as a learning instrument. By sharing results transparently and using them for coaching and training, store teams there generally find the tool motivating and educational.

The agency also notes an increase in online mystery shopping. The tool is used to test digital applications, such as e-commerce functionalities or new technologies for online fitting and personalisation. Companies use mystery shoppers in these instances to gain insight into the usability and customer experience of these tools. According to Excap, combining these insights with existing customer data allows organisations to better connect customer experience with commercial performance over time.

De Onderzoekfabriek on how its use is shifting towards development

In fashion stores, mystery shopping often focuses on moments of personal contact between staff and customers. This includes the greeting; enquiring about needs; providing suitable product advice; assisting in the fitting room; and completing the sale. A spokesperson for De Onderzoekfabriek told FashionUnited that these interactions are crucial in determining whether a customer ultimately makes a purchase. Retailers also use the results to identify differences between branches, allowing them to investigate where service agreements are being met more or less effectively.

The spokesperson provided FashionUnited with a practical example. At a large shoe chain, mystery shopping revealed that while customers were greeted, staff often asked only general questions such as “can I help you?”. After coaching on asking more targeted questions, such as the occasion for the shoes or the desired style, there was an improvement in both the mystery shopping scores for advice and closing the sale, as well as in the number of purchases.

The agency observes developments similar to those seen by Excap. These include the use of dashboards and data analysis for faster access to results and the growing integration with online customer journeys via e-commerce or chat. De Onderzoekfabriek also notes an increased use of photo and video materials to more concretely illustrate situations from store visits during the coaching or training of store teams.

Retail expert Dirk Mulder: objectivity depends on execution

To gain a broader, independent perspective on this development, FashionUnited also spoke with retail expert Dirk Mulder of ING. He believes the value of mystery shopping depends heavily on how organisations implement the tool. “If you use it to hold employees accountable, it remains a monitoring tool. If you use it as a basis for feedback, training and discussion, it becomes a coaching instrument,” Mulder stated.

He believes mystery shopping can help improve service and customer experience, but the measurement tool is not entirely objective. The outcomes depend on factors such as the timing of the assessment, the frequency of visits and the mystery shopper's interpretation. Establishing clear criteria and scenarios beforehand can, however, increase objectivity.

When organisations use the results as a basis for training and development, it can contribute to a better store experience and, in the long term, to commercial performance. He notes that direct effects on revenue are difficult to prove. Improved service can, however, encourage customers to stay in the store longer, spend more and return more frequently.

Looking ahead, Mulder expects mystery shopping to evolve further towards a broader, omnichannel approach. This will involve assessing not only the physical store experience but also online touchpoints and the cohesion between both channels throughout the entire customer journey.

Pinterest has extended its partnership with Amazon Web Services (AWS) as it doubles down on AI infrastructure. The social media platform has confirmed a four billion dollar commitment to utilise AWS Trainium and Graviton to train and run AI models at scale through 2031.

The agreement, described as the largest infrastructure deal in the company’s history, will see Pinterest put to use Amazon’s custom silicon chips to host and run language models and vision-language models that power personalised visual search and AI-assisted discovery. Pinterest will also expand its use of Graviton, AWS’ processors designed for cloud computing workloads, to run discovery systems.

This latest agreement expands on Pinterest and AWS’ existing relationship spanning back to 2010. Since the partnership’s inception, the duo have worked to enhance Pinterest’s reliability, efficiency and performance, and have built what is said to be “one of the largest-scale data lakes” – a repository that stores raw data – on AWS.

Pinterest has also been broadening its use of AI in an effort to enhance discovery. The platform has introduced features such as Taste Graph and Pinterest Assistant that provide users with advanced recommendation systems and conversational discovery options, all to improve and personalise its online experience.

Now, the company said the renewed commitment supports the next phase of growth across AI model implementation, with AWS to provide further flexibility, hardware optionality, and infrastructure efficiency to accelerate its AI vision, Pinterest’s chief technology officer, Matt Madrigal, stated.

“This strategic partnership will help accelerate AI innovation at Pinterest, improving both our consumer experience and advertiser performance by advancing our proprietary models and our use of open-source models,” Madrigal added.

UK store fashion sales recorded their strongest week in 21 weeks, growing +12.33% in a seven-day period covering the spring bank holiday and half-term break, according to the latest BDO High Street Sales Tracker. The result, which compares to a -3.17% base in the same week last year, was driven by two record-breaking late-spring heatwaves that pushed temperatures to 34.8 and 35.1 degrees Celsius at the start of the week.

Total fashion like-for-like (LFL) sales rose +8.97% across both channels, outpacing the +6.09% gain for total retail. The comparable base last year was negative at -1.44%, although the magnitude of the swing reflects genuine demand rather than purely favourable comparisons.

Online channels added to the gains rather than carrying the category. Non-store fashion sales grew +9.66% against a positive base of +7.53% last year — one of the more demanding year-on-year comparisons in the recent run, making the result a meaningful indicator of underlying online strength. The pattern marks a shift from recent weeks, when online growth had offset physical store weakness. The wider retail picture was uniformly positive. Total store LFLs rose +6.78% from a +1.81% base, while total non-store LFLs grew +8.89% from a +2.82% base. All comparisons this week were against positive year-ago numbers, strengthening the read on real demand.

Springboard footfall data backed up the in-store story. Overall footfall rose +0.9%, with high street footfall up +1.8% and retail parks up +1.6%, although shopping centres bucked the trend with a -1.9% decline. The high street increase is notable given the channel had been in persistent decline through much of spring 2026.

The Middle Eastern market is facing significant disruption due to geopolitical tensions, inflation, and a decline in tourism. Experts from CXG are offering advice on crisis management and resilience for luxury brands already present in the Gulf countries or heavily reliant on this clientele.

CXG (Customer Experience Group) is a consulting and customer experience measurement firm specialising in the luxury and premium sectors. It currently supports over 200 luxury brands in more than 70 countries, particularly those facing major crises. The Gulf countries are currently experiencing such a situation.

The issue is particularly strategic because CXG considers Middle Eastern consumers a crucial clientele for high-value luxury purchases. Dubai and Riyadh have also established themselves as key hubs for the industry.

According to CXG, luxury brands have often successfully leveraged crises to evolve. In response to the current situation, the firm provides several potential courses of action.

Market diversification

CXG advises against depending on a single region. Brands must diversify their geographical exposure. Among Middle Eastern markets, they should consider Saudi Arabia a long-term priority due to Vision 2030.

Vision 2030 is Saudi Arabia's economic diversification strategy. It aims to reduce oil dependency by investing in tourism, culture, and high-end consumption.

Furthermore, luxury brands would benefit from serving their Gulf clients where they travel and make purchases, rather than focusing solely on boutiques within the region.

Extending relationships beyond the boutique

The boutique remains at the heart of the luxury experience, but it should no longer be the sole point of contact. According to CXG, brands must develop private clienteling; remote personalised services; proactive interactions with their clients; and strengthen local cultural integration.

Additionally, international brands would benefit from better understanding local cultural references rather than applying a uniform model across all markets.

Customer experience as a competitive advantage

The authors highlight that Middle Eastern consumers are not just experiencing logistical disruption but an emotionally complex situation. Brands are therefore encouraged to show empathy in their communications and interactions and to implement a controlled pricing policy to better cope with economic uncertainties.

For CXG, the ability to make each client feel recognised, understood, and valued remains the primary advantage of luxury.

In summary, according to CXG, the fundamentals of the Middle East remain strong: wealth; a young population; strong brand loyalty; and an appreciation for craftsmanship. The distinction will be between brands that use this period to strengthen their client relationships, organisation, and cultural understanding, and those that simply wait for a return to normality.

The summer of football begins next week with the opening match of the men's World Cup, held in the US, Canada, and Mexico. US sportswear brand Capelli Sport will also be participating, equipping the national team of Cape Verde and distributing licensed products from the Fédération Internationale de Football Association (FIFA).

In Europe, the team sport specialist is primarily known for its partnerships with clubs such as VfL Osnabrück, Grasshopper Club Zürich, and Sheffield FC. Capelli Sport has been based for over ten years with its European headquarters in Ratingen, North Rhine-Westphalia, near Düsseldorf, in a major football hub.

In this interview, Mourheg discusses the company's expectations for the tournament, current business performance, and the markets Capelli Sport plans to expand into.

World Cup is approaching. What are your expectations for the tournament?

The tournament is particularly interesting for us for several reasons, especially because it is taking place on our doorstep. Our parent company is based in the US, with headquarters in New York City and New Jersey, and our distribution centre is just five minutes from the MetLife Stadium, where the final will be held.

This is an extremely important event for the market there. We are already the market leader in US amateur football; everything below Major League Soccer (MLS) is our core business. When a mega-event comes to the country, it boosts the entire sport. For us as the market leader, this means a noticeable push in revenue, player numbers, and membership growth, and new football clubs are formed. That is why we definitely want to be involved, with at least one nation on the pitch.

Do you have a rough idea of the revenue boost the tournament will bring?

It depends on how many of our existing clubs benefit and how many new clubs approach us. Historically, the entire market's focus shifts heavily towards football during such periods.

The host nation's performance also plays a role; if they are eliminated in the group stage, the effect quickly dissipates. In the US, one mega-event follows another seamlessly. It would therefore be beneficial for the sport if the US team progresses as far as possible. We anticipate a short-term increase of up to 10 percent in US youth football. Furthermore, World Cup years are generally growth years for sports brands. Since we serve the team sports market directly, bypassing retail, we feel such developments immediately within the current year.

How has the first half of the year been for you, both globally and in Europe?

Good. The Cape Verde partnership alone, announced this half-year, has automatically generated a lot of interest. Considering how few brands besides the three major players are represented at a World Cup, it is really just a handful. This helps us enormously, including in direct conversations with clubs. We also had other strong areas: lacrosse and field hockey, with the latter becoming increasingly active with the upcoming European Championship. Overall, it has been an eventful first half.

Can you comment on revenue development?

Not yet definitively. It is a very seasonal business, and a lot still happens over the course of the year. We are not a brand that waits for pre-order rounds. Since we serve the team sports market directly, our revenue developments are more immediate. When the season starts, we see what the year has brought. Other brands have long since closed their order books and can do little to change things for this year. Our cycle is different; there is still a lot of movement.

Besides the sportswear segment, you are also responsible for Capelli New York. Do you notice differences between the two areas given the current consumer sentiment?

Yes, definitely. The sports industry is developing differently from fashion. In the fashion and accessories sector, we are heavily dependent on general consumer sentiment and even the weather. If people shop less, it is immediately reflected. In team sports, however, the business is more stable. As long as the ball is rolling, there is momentum, relatively independent of the weather. There are more relevant cycles about the World Cup schedule, mega-events, or the sporting success of a national team.

How large is Capelli Sport in relation to the fashion division?

The sports brand is clearly the group's major growth sector. The fashion accessories business, primarily under Capelli New York, has existed since the company was founded 36 years ago. We are the market leader there, generating around 300 million in revenue. The growth potential in this segment is largely exhausted.

In sports, however, we have enormous growth rates. The brand has been around for 12 years, and we are now the market leader in US youth and amateur football, generating around 85 million in revenue worldwide. This is more than some long-established brands in Germany have achieved after over 100 years. Therefore, the balance between the two divisions at the group level is shifting rapidly. The focus is clearly on the sports brand.

How does this differ in Europe?

In Europe, the ratio is more balanced; we have been active here with the fashion division for 26 years. The revenue split between sports and fashion is approximately 50-50.

How are the sales channels structured?

In the fashion sector, it is a classic wholesale business. More importantly, we market our brand on our own self-managed spaces in large department stores without our own staff but with our own brand presence. We are present in stores like Galeria and P&C, among others. This is complemented by white-label production for large retailers and private label listings.

In the sports segment, direct sales is the core business. Our own sales team sells directly to clubs, building personal relationships. Wholesale plays a subordinate role there and is limited to merchandise products, such as fan jerseys like those for Cape Verde. We also work with sports generalists like Engelhorn, as well as with equipment, accessories, and balls, with the exception of club kits, which are not sold through retail.

Your football partnerships range from professional level to amateur sport, which are also present with integrated fan shops on your website. Where do you draw the line between sponsorship and customer?

It is not always about sponsorship. Many clubs cooperate with us because we provide services for them, such as creating a club collection or setting up a team shop in our online store. These are collaborations without a sponsorship character. A sponsorship begins at a certain level, and league affiliation is not the decisive criterion for us.

We do not see being present with our logo on television broadcasts as a primary goal. It is more important for us to build brand awareness in the region through an engagement with a professional club and then more easily enter into discussions with amateur clubs in the area. The bread-and-butter business is amateur football. The merchandise business with clubs like Alemannia Aachen or VfL Osnabrück, which have a large fanbase, is an added bonus.

There are no standalone Capelli Sport stores, correct?

Correct, we currently have no standalone stores. There were once pop-ups in New York on Fifth Avenue, but no permanent locations.

Do you rely solely on showrooms for these partnerships, and do all the clubs come to you in Ratingen?

Ratingen is the headquarters with a showroom and distribution centre, where we welcome many clubs. We also have many people on the ground in various regions, whether in Bavaria or the north, as well as abroad. In addition, there are separate showrooms in places like Manchester, London, Greece, and other markets. Sometimes, we also have partnerships with clubs where we use a local space for meetings, sample presentations, or as a base for our field sales team.

You are active in more than 20 markets in Europe. Which are the key markets?

Strategically, in the long term, it is of course the 'Big Five' – the markets where we must have a presence: England, Germany, Spain, Italy, and France. We have had a very strong presence in England with our own offices from the beginning, and Germany is our largest market and will remain so in ten years' time. Besides these two markets, we are also currently well-positioned in other markets.

Which countries are those?

We are really pushing ahead in Poland and have good clubs and partnerships there, currently with two teams in the top league. Denmark is a very strong market, which has grown partly because we are represented with our own club in the second division. The Capelli Sport stadium is about a quarter of an hour from Copenhagen, where we host many activities. That has grown very quickly and organically.

We are also very strong in the Balkans, with the Serbian national team and our own local team, among others. In Greece, we have an office and started very early with AEK Athens, back when they were in the Champions League.

Is a major club or a national team the door-opener for you in a market?

That is the classic approach. You start with a major club and build a structure around it to then be able to penetrate deeper into the individual markets.

We do not do everything at once. In some markets, we currently only have one major club and are putting deeper development on the back burner for now. It is also a relationship-driven business; often, a new market has emerged that was not even on the roadmap because a strong partnership presented itself. The great thing about Europe is that this works relatively smoothly, without trade barriers or currency differences. Whether we win a club in Bavaria or the Netherlands, the distance to the neighbouring country is even shorter.

You just mentioned the 'Big Five'. Are the other markets besides Germany and England more difficult to enter?

Yes, Italy is a classic example of this. We do not have a single partner there yet. The football market there is romantic and visibly very appealing; it clearly belongs to the 'Big Five' and must be addressed at some point. It is, however, a more complex market than others. As long as we still have enough growth potential in other markets, we prefer to take the easier path because it leads to success more quickly.

Finally, what are the next goals for the brand?

We want to expand our reach even further, especially in amateur football. In markets where we have so far only been active through professional engagements, we want to penetrate deeper: Denmark, Poland, Switzerland, and of course, Germany. In Germany, sales remain the clear number one priority; we are tapping into more and more regions and continuing to expand the sales team.

In the professional sector, the hope is always that existing clubs will continue to develop. A good example is VfL Osnabrück. We already had them under contract in the 2. Bundesliga, then unfortunately, they were relegated shortly after, and now they are back. That is the ideal scenario! You do not have to convince a new second-division club; instead, you write great stories together with the club. At the same time, we are in talks with all realistic professional clubs from league one to league four that become available, and new engagements will follow in the near future.

Canadian athletic apparel brand Lululemon Athletica Inc. (Lululemon) reported its financial results for the first quarter of fiscal year 2026, ended June 4, 2026, revealing steady international growth alongside deceleration in its domestic market. As detailed in the official press release, total net revenue for the period reached 2.47 billion dollars, representing a 4 percent increase compared to 2.37 billion dollars in the first quarter of fiscal year 2025. On a constant dollar basis, net revenue increased by 2 percent.

The company experienced varying performance across geographic regions. In the Americas, net revenue decreased by 3 percent, or 4 percent on a constant dollar basis. Conversely, international net revenue grew by 22 percent, driven by a 16 percent increase on a constant dollar basis, highlighting robust demand in overseas markets.

Comparable sales and margin contractions

Total comparable sales, which encompass company-operated retail locations and e-commerce, rose by 1 percent during the quarter, though they declined by 2 percent on a constant dollar basis.

Domestic retail channels remained constrained, with comparable sales in the Americas declining by 5 percent, or 6 percent on a constant dollar basis. International comparable sales cushioned this performance, increasing by 13 percent, or 8 percent on a constant dollar basis. Within the international segment, Mainland China delivered a 20 percent increase in comparable sales.

Gross profit decreased by 3 percent to 1.34 billion dollars from 1.38 billion dollars in the prior year period. Consequently, gross margin contracted by 410 basis points to 54.2 percent. Net income stood at 195.05 million dollars, representing diluted earnings per share (EPS) of 1.69 dollars. This performance marked a decrease from a net income of 314.57 million dollars, or 2.60 dollars per diluted share, in the same period last year.

Product updates and strategic agility

The financial update coincides with organizational adjustments following leadership shifts. Lululemon interim co-chief executive officer and chief financial officer, Meghan Frank, noted that while the team executed with speed, the business is currently navigating headwinds that have prompted revisions to the full-year outlook. Frank stated during the investor call that spikes of negative media and social commentary regarding product compositions and proxy contests impacted traffic, predominantly in China and the US.

Furthermore, Frank acknowledged that certain product launches failed to meet expectations. To address these trends, the brand is accelerating its chase capabilities by 20 percent relative to last year to read and react faster to consumer demands, with product focus shifting toward outerwear and lounge fabrics.

Interim co-CEO, president, and chief commercial officer, André Maestrini, reiterated that teams remain focused on core priorities to reignite growth, specifically building upon successful product capsules across train, tennis, and run.

Inventory control and store network development

Lululemon ended the first quarter of 2026 with 1.51 billion dollars in cash and cash equivalents, and maintained 593.60 million dollars of available capacity under its revolving credit facility.

Total inventories at quarter-end grew by 2 percent to 1.69 billion dollars compared to the first quarter of 2025. However, on a unit basis, inventories decreased by 4 percent, indicating healthier stock management and reduced volume risk. During the period, the company allocated 358.30 million dollars to repurchase 2.20 million of its own shares.

The activewear retailer continued to grow its physical footprint, opening five net new company-operated locations during the quarter to bring its global store count to 816 locations.

Updated financial outlook

For the second quarter of fiscal year 2026, Lululemon projects net revenue to range between 2.45 billion dollars and 2.48 billion dollars, representing a decline of 2 percent to 3 percent. Diluted EPS is anticipated to fall between 1.76 dollars and 1.81 dollars.

For the full fiscal year 2026, the company lowered its guidance. It now estimates net revenue to land between 11.00 billion dollars and 11.15 billion dollars, translating to a flat to 1 percent decline compared to fiscal year 2025. Full-year diluted EPS is projected to be between 10.95 dollars and 11.15 dollars.

In wholesale, speed is not operational.
It is strategic.

Collections are seasonal.
Preorder windows are fixed.
Retailers expect immediate availability.
Markets move quickly.

Yet many brands still approach B2B commerce like a long IT programme.

Workshops.
Specifications.
Custom ERP adjustments.
Interface engineering.
Extended coordination cycles.

While systems are being built, revenue momentum slows down.

Speed matters.
Because wholesale does not wait.

The problem is not B2B – it is the project mindset

B2B commerce becomes slow when it is treated as:

• A custom development initiative
• An ERP extension programme
• A portal built from scratch
• A multi-vendor integration exercise

This creates:

• Heavy IT dependency
• Long configuration cycles
• Internal overload
• Delayed commercial activation

Wholesale should not depend on project timelines.
It should operate at market speed.

FIRE is software, not a project

FIRE is a ready-to-use SaaS Wholesale Sales Control Platform.
It already includes:

• Digital showroom
• Sales app
• Sales table
• Fully integrated B2B portal
• Structured preorder workflows
• Systematic reorder logic
• Middleware-based ERP integration
• Real-time dashboards

These components are not engineered during implementation.
They are activated.

That is the structural difference.

Speed comes from product maturity.
Not from custom development.

Super-fast go-live through structural clarity

Because FIRE is delivered as SaaS:

• No custom system architecture must be designed
• No ERP rebuilding is required
• No lengthy development cycles are necessary
• No extended transformation roadmap is needed before value appears

Wholesale shifts from project mode to operational mode.

Activation replaces construction.
Configuration replaces engineering.

Structured B2B commerce can go live rapidly because the platform is already built.

Middleware reduces ERP friction

One of the main reasons traditional B2B initiatives slow down is deep ERP entanglement.

FIRE separates responsibilities clearly:
ERP remains the transactional backbone.
FIRE becomes the execution and control layer.

Through an independent middleware architecture:

• Product data synchronises reliably
• Pricing remains ERP-consistent
• Customer conditions are reflected accurately
• Order updates stay stable

ERP does not need to be redesigned.
Wholesale does not need to pause.

This dramatically reduces implementation complexity and accelerates go-live.

Faster activation means earlier revenue impact

The earlier structured B2B commerce is activated:

• The earlier preorder performance becomes transparent
• The earlier reorder potential can be triggered
• The earlier sales teams operate in one system
• The earlier coordination overhead disappears
• The earlier margin control improves

Speed is not technical.
It is commercial leverage.

Speed also builds data advantage

Every delayed activation means:

• No clean SKU decision tracking
• No structured reorder intelligence
• No longitudinal customer visibility
• No AI-ready data accumulation

When FIRE goes live, structured data capture begins immediately across:

• Showroom interaction
• Sales app execution
• Preorder decisions
• Reorder triggers
• Account evolution

Speed accelerates intelligence.
Intelligence strengthens competitive advantage.

Executive perspective

For leadership, the real question is not:
“How complex will this project be?”

The real question is:
“How quickly can we activate structured wholesale control?”

Wholesale brands do not lose time because B2B is complex.
They lose time because they treat B2B as a custom IT programme.

FIRE eliminates that mindset.
It delivers super-fast B2B activation without sacrificing structure, scalability or control.

Executive summary

Traditional B2B initiatives slow wholesale through:

• Custom development
• ERP-heavy engineering
• Fragmented systems
• Long configuration cycles

Modern wholesale requires:

• A ready-to-use SaaS platform
• Integrated showroom, sales app and B2B
• Middleware-based ERP synchronisation
• Real-time visibility
• Structured preorder and reorder workflows
• Continuous AI-ready data capture

FIRE brings B2B commerce live with exceptional speed because it is a mature Wholesale Sales Control Platform — not a custom IT project.

Speed matters.
Because wholesale does not wait.

FAQ – Fast B2B-Commerce Deployment for Wholesale

Why do many B2B-commerce initiatives take so long to launch?
Many companies treat B2B-commerce as a custom IT development project. Building portals from scratch, modifying ERP systems and coordinating multiple vendors can extend implementation timelines significantly.

Why is speed critical in wholesale B2B-commerce?
Wholesale operates within fixed seasonal cycles. Collections are presented during specific preorder windows, and retailers expect immediate availability. Delayed system implementation can cause brands to miss important selling opportunities.

How does system architecture influence time-to-market?
Platforms built as SaaS solutions typically deploy faster because core functionality already exists. Instead of developing software from scratch, companies can configure existing capabilities and integrate them with their systems.

Why do ERP-driven B2B projects often slow down implementation?
ERP systems are designed for financial and transactional processes rather than customer-facing commerce experiences. When companies attempt to build B2B-commerce directly into ERP systems, development complexity increases significantly.

What advantages do SaaS platforms offer for wholesale B2B-commerce?
SaaS platforms provide ready-to-use infrastructure that can be configured rather than developed. This reduces implementation time, lowers technical complexity and accelerates time-to-value for wholesale organisations.

How does middleware simplify system integration?
Middleware connects enterprise systems such as ERP, CRM and sales platforms through a dedicated integration layer. This approach ensures consistent data synchronisation without requiring fundamental changes to core systems.

How does faster deployment impact wholesale revenue?
When a B2B platform launches quickly, sales teams can immediately benefit from structured workflows, improved visibility and better data integration. This accelerates operational efficiency and revenue generation.

Why is time-to-value important in wholesale technology projects?
Wholesale revenue is strongly linked to seasonal cycles. If a system takes multiple seasons to implement, companies may miss critical opportunities for sales growth and operational improvement.

How does structured data capture support long-term wholesale intelligence?
Once a B2B platform is live, it can capture data about buyer interactions, preorder behaviour and reorder activity. Over time, this data creates valuable insights that improve forecasting and decision-making.

How does FIRE accelerate B2B-commerce activation?
FIRE is delivered as a ready-to-use SaaS wholesale platform that already includes digital showroom functionality, preorder workflows, B2B ordering and ERP integration. This enables companies to activate structured wholesale processes much faster than traditional development projects.

About FIRE

FIRE is the leading Wholesale Sales Control Platform for fashion brands and seasonal B2B organisations.
It combines:

• Digital showroom
• Sales app
• Sales table
• Integrated B2B portal
• Structured preorder and reorder workflows
• Middleware-based ERP integration
• Real-time dashboards
• Data capture across the entire wholesale journey
• AI-ready longitudinal datasets
• Private cloud SaaS architecture
• Premium digital brand and product experience

Experience how structured B2B commerce can be activated at market speed:
https://www.fire-digital.com/en

Is this the dawn of a new era for luxury? Faced with a marked slowdown over the past three years, the sector is trying to regain momentum by returning to fundamentals, streamlining portfolios and exploring new avenues.

Profits are down sharply for LVMH and Kering in 2025, and Burberry reported a net loss for its 2024/2025 financial year. The figures show a change in trend. The causes are numerous, including price increases that have tired customers, questions about product quality and a slowing Chinese market.

“Luxury, coming out of Covid-19, was boosted by revenge buying,” recalls Eric Briones, co-founder of the Paris School of Luxury, who has just published a book on the sector's transformation.

“When luxury was faced with this high demand, the artisanal model was undermined,” he says, citing subcontractor scandals in Italy. The Italian judiciary has been investigating major luxury names for two years over working conditions in sewing workshops, suspected of exploiting Chinese labour.

The demand boom was also accompanied by a price increase of up to 50 percent over three years for some brands, “without an increase in quality, or even with a decrease in quality,” he points out.

Price inflation, but also volume inflation: “There is a fundamental question,” explains Christophe Caïs, head of the luxury consultancy CXG. “How many bags can you sell globally before you become a little too present? We want to be exclusive and at the same time we want to do volume. At what point does this volume effect contradict your desire for exclusivity?”.

According to the consulting firm Bain & Company, the luxury market lost 20 million customers between 2024 and 2025, after having already lost 50 million in previous years.

After years of economic and geographical expansion for major luxury groups that have built themselves up as conglomerates, the time for rationalisation has come, specialists point out.

“There is a phase of refocusing on a form of portfolio coherence. We can decide to move away from or find a better partner for certain brands that are less part of a group's DNA,” analyses Léa Hubsch, a partner at the Kearney firm.

Experiential luxury

The global luxury giant LVMH, for example, recently sold the American brand Marc Jacobs after thirty years under its ownership. In January, it sold its Duty Free Shops (DFS) business in China.

On the side of the French group Kering, which is undergoing a major transformation, moves have also begun, including the sale of its beauty division to L'Oréal for four billion euros.

“This consolidation trend is set to continue, with conglomerates divesting their underperforming or strategically less important divisions to focus on their core businesses,” analyses the firm CXG in a recent report.

Another example is the acquisition of the Italian brand Versace by its competitor Prada for 1.25 billion euros in 2025. Other deals are expected, notably for the Italian house Giorgio Armani. In his will, the designer, who died last year, asked his heirs to sell his empire in the medium term to a luxury giant like LVMH or L'Oréal.

Within companies, rigour is the order of the day. Luca de Meo, the former head of Renault appointed to lead Kering last year, stressed during his strategy presentation in April that excellence must take precedence. This includes a return to fundamentals, store closures and a reduction in the number of product references for certain brands.

More broadly, industry specialists speak of a new luxury, one less focused on ostentatious products and more on the huge, fast-growing wellness market.

“Desire has shifted to the experiential: beauty; hospitality; transformative luxury,” says Eric Briones. Experts see the future particularly in wellness and longevity, with clinics worthy of luxury hotels. This is a sector where Kering has already begun to position itself, through a joint venture with L'Oréal announced a few months ago.