UK luxury brand Burberry has reached a meaningful inflection point in its financial recovery, reporting a return to profitable comparable store sales growth for the 52 weeks ended March 28, 2026. The results coincide with the announcement that Gerry Murphy will retire as chair in November 2026, to be succeeded by Bridgepoint Group founder William Jackson.

The London-based company saw revenue reach 2.4 billion pounds (3.25 billion dollars), remaining flat at constant exchange rates (CER) compared to the previous year. While reported revenue declined 2 percent, the group achieved a significant turnaround in profitability, with adjusted operating profit rising to 160 million pounds from 26 million pounds in the prior period. This performance was supported by 80 million pounds in operating expense (opex) savings delivered through the ‘Burberry Forward’ transformation programme.

Regional performance and product momentum

The fourth quarter (Q4) proved particularly strong for the group, with comparable store sales increasing 5 percent. Growth was spearheaded by the Americas and Greater China, which both saw double digit increases of 10 percent in the final quarter. For the full financial year (FY26), the Americas grew by 4 percent, supported by local spending, while Greater China also rose 4 percent as a strong second half (H2) offset earlier declines.

In terms of product categories, Burberry asserted its authority in outerwear and scarves, both of which saw double digit growth during H2. The group also focused on enhancing the brick and mortar experience, launching 200 scarf bars throughout the year.

E-commerce sales performed well, increasing by high teens percentages, aided by improvements to the digital customer experience.

Leadership transition at the board

Burberry confirmed that Murphy, who joined the board in May 2018, will step down following the release of the interim results in November 2026. Jackson will join the company as a non-executive director on July 1, 2026, before standing for election at the annual general meeting (AGM) on July 15, 2026. He will formally succeed Murphy as chair following a handover period.

Jackson brings extensive experience from his tenure at Bridgepoint Group, where he oversaw investments in consumer-facing businesses such as Pret a Manger.

Senior independent director Orna NiChionna stated that Jackson’s track record in scaling international businesses will add "considerable strength and expertise" to the board as the group continues its current strategy under chief executive officer (CEO) Joshua Schulman.

Financial outlook and strategic targets

The group reported a gross margin of 67.9 percent, an increase of 530 basis points at CER, driven by a higher quality of sales and recovery following an inventory reset in the previous year.

Looking ahead to the next financial year (FY27), Burberry expects to make further progress on revenue growth and margin expansion. Wholesale revenue is projected to grow by mid-single digit percentages in the first half (H1), while annualised cost savings are expected to reach 100 million pounds.

The Fédération de la Haute Couture et de la Mode (FHCM) and the Camera Nazionale della Moda Italiana (CNMI) have announced a joint Environmental, Social and Governance (ESG) harmonisation framework for fashion and luxury suppliers.

The objective of this French-Italian initiative between the FHCM and the CNMI, launched in 2024, is to reduce the administrative burden on suppliers. The idea is to establish a common language and a harmonised documentary basis to limit the proliferation of different requirements from one house to another.

The text emphasises small artisanal workshops, which are considered the most vulnerable structures facing this administrative complexity. They often have fewer human resources dedicated to ESG compliance.

This harmonisation framework was published online at the end of April 2026. It includes common principles of business conduct and documents intended to certify good environmental, social and governance (ESG) practices.

Environmental requirements include:

• Air pollution

• Noise

• Wastewater treatment

• Soil contamination

• Waste management

• Energy efficiency

• Resource conservation

• Reduction of environmental and human impacts related to raw materials.

The environmental documents requested during audits include energy and water consumption records; waste management and treatment registers; permits related to atmospheric emissions or wastewater discharges; and environmental risk assessments.

The framework also mentions environmental impact reduction plans, asbestos inventories, documents relating to soil contamination and proof of origin for natural and mineral raw materials.

Social commitments concern:

• Strict prohibition of child labour and forced labour

• Discrimination, violence and physical or psychological harassment

• Respect for freedom of association

• Mandatory written contracts for all workers and legal rest periods

• Payment of at least the legal minimum wage

• Obligation to provide detailed payslips

• Precise tracking of working hours.

Among the social documents requested during audits are policies against forced labour and child labour, as well as proof of associated training and internal communication. Suppliers may be asked to provide payslips for the last 12 months, proof of salary payments, time sheets or employment contracts.

The framework also includes identity documents and work permits, applicable collective bargaining agreements, and a detailed list of employees including their nationality, gender, age, seniority, contract type and remuneration level.

In terms of occupational health and safety, the main obligations are:

• Management of health and safety risks in facilities

• Training workers in the safe use of equipment

• Mandatory maintenance of machinery and equipment

• Adequate use of protective equipment

• Compliance of buildings and workplaces, fire protection systems and evacuation procedures

• Monitoring of occupational impacts on employee health

• Controlled management of chemical products.

Among the required documents are operating licences, production site plans, ethical and anti-corruption policies, and lists of subcontractors and service providers. The framework also mentions ESG assessments, authorisations related to video surveillance systems and several certifications where available.

FHCM and CNMI have announced their intention to create a consortium of universities and schools to support the development of ESG skills and best practices throughout the fashion and luxury value chain.

The framework also includes a common glossary to harmonise certain concepts used in ESG audits. The term “Business Partner” thus refers to all suppliers, manufacturers, service providers and subcontractors in the value chain.

The concepts of “Child Labour” and “Forced Labour” adopt the definitions of the International Labour Organization (ILO). The document also defines “Vulnerable Workers” as workers particularly exposed to risks of discrimination or precariousness, including migrants, women, ethnic or religious minorities, disabled people or indigenous populations.

US accessories company Fossil Group has reported its financial results for the first quarter ended April 10, 2026, revealing an improved operating performance despite a slight contraction in net sales. The group achieved an operating income of 12 million dollars, a significant recovery from the 6.70 million dollar loss recorded during the same period in 2025.

Net sales for the quarter totaled 224.80 million dollars, representing a 3.6 percent decrease on a reported basis and a 6.5 percent decline in constant currency. The results were impacted by a shorter fiscal calendar, as the first quarter of 2026 included 13 weeks compared to 14 weeks in the prior year.

Fossil Group chief executive officer, Franco Fogliato, stated that the company outperformed top and bottom line expectations due to the execution of its turnaround strategy. Fogliato noted that strong consumer response to product innovation drove performance across core brands and key geographies. He expressed confidence in the full year outlook, anticipating a return to top line growth in the fourth quarter.

Regional and brand performance

On a constant currency basis, net sales declined 14 percent in Europe, 3 percent in the Americas, and 1 percent in Asia. Performance varied significantly by channel, as wholesale sales increased 5 percent while direct-to-consumer (D2C) sales decreased 29 percent. Within D2C channels, comparable retail sales fell 15 percent.

The traditional watch category remained approximately flat in constant currency, while leathers decreased 41 percent and jewelry declined 14 percent. From a brand perspective, Fossil Group reported growth for Armani Exchange, Michael Kors, and Diesel. However, sales for the Fossil brand decreased 17 percent in constant currency during the quarter.

The company indicated that store rationalization initiatives and declining smartwatch sales contributed approximately 280 basis points to the overall sales decline. Gross profit reached 134.70 million dollars, with gross margin narrowing by 140 basis points to 59.9 percent. This compression was primarily attributed to increased tariffs and the timing of licensed brand royalty recognition. These costs were partially offset by 4 million dollars in tariff refund claims.

Financial outlook

The group reported a net loss of 0.80 million dollars, an improvement over the 17.60 million dollar loss seen in the first quarter of 2025. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) stood at 14.50 million dollars, or 6.5 percent of net sales.

For the full year 2026, the company reiterated its guidance. It expects worldwide net sales to decline between 4 percent and 6 percent, with an adjusted operating margin in the range of 3 percent to 5 percent.

The Denmark-based childrenswear company Brands4kids (B4K) has reported record turnover in the 2025 financial year. Despite a challenging market climate and global economic turbulence, the organisation managed to increase its turnover to 520 million Danish krone. This result marks a 15 percent increase compared to the previous year.

Following a period of expansion through international acquisitions, the focus in 2025 shifted to internal consolidation. The organisation focused on integrating recent acquisitions and reducing operational complexity. According to Brands4kids chief executive officer, Erik Andreæ, significant resources have been deployed to streamline the organisational structure.

According to the company, the strategic focus on the Benelux and DACH regions has positively contributed to the growth figures. Brands4kids sales director, Michael Nederby, states that the expansion of its global presence is essential for a broad sales base. Today, the group is represented in more than 45 countries and works with approximately 4,000 retailers worldwide.

Approximately 85 percent of the total turnover is now generated outside the Danish home market. In recent years, key growth markets have included Canada and China, in addition to the Netherlands and Germany. According to Nederby, the company's strength lies in its multi-brand structure with categories in basic, fashion, outdoor and accessories.

Although turnover growth was substantial, the pre-tax result of 16 million Danish krone fell short of initial expectations. Andreæ attributes this to market conditions, external pressures and the costs of internal adjustments. The company has financed all recent acquisitions from its operational activities, despite rising interest rates and declining birth rates.

The strategy for the near future is focused on improving profitability. The goal is to create a solid financial foundation for any future acquisitions. The company continues to operate from its locations in Aalborg, Ikast, Fuzhou, Lelystad and Rosmalen, supported by more than 15 showrooms in Europe.

For the current year, 2026, Brands4kids expects a positive pre-tax result of between 20 million and 25 million Danish krone. The focus remains on the current brand portfolio and ensuring long-term collaborations with both suppliers and retail partners in a volatile market.

This article was created with the help of an AI writing tool.

Beijing - Chinese e-commerce giant Alibaba Group Holding Limited (Alibaba) announced on Wednesday an 18 percent drop in its annual net profit. The results were weighed down by a price war in China and ambitious investments in artificial intelligence (AI).

The Hangzhou-based group (eastern China) operates some of China's largest online shopping applications, such as Taobao (widely used in China) and AliExpress (used abroad).

E-commerce is Alibaba's core business. It is, however, being hampered by a price war and sluggish consumption in China, forcing the company to offer discounts on its platforms.

To diversify, the company is investing tens of billions of euros in AI. Its shareholders are waiting to see how it plans to turn these huge sums into tangible profits.

Alibaba's net profit for the 2025-2026 financial year amounted to 105.9 billion yuan (15.59 billion dollars), down from 129.5 billion yuan the previous year. This represents a drop of 18 percent, the group announced in a statement to the Hong Kong Stock Exchange.

Annual revenue, meanwhile, reached 243.4 billion yuan, up 3 percent year-over-year.

“Alibaba's investments in AI at all levels of its technology chain have moved from the incubation stage to large-scale commercialisation,” said Eddie Wu, the group's chief executive officer.

From B2B to A2A commerce

Alibaba's open-source AI models, named “Qwen”, are popular with programmers worldwide. The company announced this week that it has integrated Qwen's “agentic” functions—tools capable of performing complex tasks for users—into its star application, Taobao.

In the statement on Wednesday, Wu said he sees “enormous potential” in these AI agents, which are capable of acting without human intervention. In early May, the company also stated in a press release that global commerce is now shifting from traditional business-to-business (B2B) to agent-to-agent (A2A) commerce.

Bloomberg Intelligence analysts said before the results were released that Alibaba “will likely further strengthen the integration of AI into its ecosystem during the 2027 financial year”. The group will maintain “high spending to stimulate user adoption (of AI tools),” they predict.

Every sales director eventually faces the same structural limit:
Revenue targets increase.
Complexity increases.
Headcount should not.

The traditional growth logic in wholesale was simple:
More markets → more reps
More SKUs → more coordination
More customers → more administration

But this model does not scale anymore.
Hiring more people on top of fragmented systems only multiplies inefficiency.

Scaling wholesale today requires structural leverage.
Not more headcount.

Experience how wholesale scales when structure replaces complexity:
https://www.fire-digital.com

The real question sales directors are asking

How can we increase wholesale revenue without increasing sales staff?

The answer is not:
More CRM usage.
More reporting.
More Excel tracking.
More digital presentation tools.

The answer is structured execution.

Revenue growth without headcount requires:

• Standardised preorder processes
• Systematic reorder activation
• Real-time performance visibility
• Integrated pricing and customer logic
• Clean ERP and CRM synchronisation
• Longitudinal behavioural data

This is not what a classic digital showroom provides.
This is not what an ERP was built for.
This is not what a CRM controls.

It requires a Wholesale Sales Control Platform.

Why headcount scaling fails without structural control

In many wholesale organisations, sales productivity is limited by:

• Manual preorder consolidation
• Separate B2B and reorder systems
• Spreadsheet-based assortment tracking
• Delayed performance visibility
• Price correction loops
• Fragmented customer history
• Repetitive coordination calls

Adding more sales reps increases:

• Internal alignment overhead
• Data inconsistency
• Reporting complexity
• Administrative workload

Revenue per sales rep does not improve.
Complexity grows faster than output.

The constraint is not people.
The constraint is structure.

The Wholesale Scaling Formula

Wholesale revenue per sales rep increases when:
Structured Execution

• Real-Time Visibility
• Systematic Reorder Activation
• Integrated System Architecture
• Longitudinal Data Intelligence
  = Scalable Revenue Growth

This formula defines category leadership.

FIRE: the Wholesale Sales Control Platform

FIRE was built specifically to solve this structural bottleneck.

Not as a digital showroom.
Not as a CRM replacement.
Not as an ERP extension.

But as the structured execution and control layer between ERP, CRM and market interaction.
That is the difference.

Structured preorder instead of reactive coordination

With FIRE:

• Preorder is standardised globally
• SKU logic is structured
• Customer conditions are ERP-consistent
• Assortment decisions are documented
• Sales meetings follow a clear architecture

This reduces:

• Internal coordination
• Manual correction
• Post-meeting administration

Sales time shifts from administration to revenue generation.

Reorder becomes a systematic growth lever

In many organisations, reorder is reactive.

With FIRE:

• High-performing SKUs are identified in real time
• Cross-market bestseller visibility is immediate
• Customer-specific reorder opportunities are transparent
• Sales teams receive structured activation logic

Reorder becomes controlled growth.
Not coincidence.

Real-time visibility for sales directors

Sales directors gain:

• Live preorder performance by region
• Cross-market comparability
• SKU-level transparency
• Margin and allocation visibility
• Immediate underperformance detection

Instead of waiting for reports, leadership steers proactively.
Revenue scaling becomes controlled.

Productivity per sales rep increases

When execution is structured:

• Fewer internal calls are needed
• Order processing accelerates
• Reporting becomes automatic
• Data reconciliation disappears
• Customer preparation improves

Revenue per rep increases.
Headcount remains stable.

That is scalable growth.

Middleware as scaling backbone

FIRE integrates through an active middleware layer:

• ERP remains the transactional backbone
• CRM remains the relationship layer
• FIRE becomes the execution and control layer

This ensures:

• Clean data flows
• No duplicated systems
• Stable synchronisation
• Scalable architecture

Growth does not require rebuilding the system landscape.

Data accumulation as competitive advantage

True scaling compounds over time.

FIRE captures structured data across the entire wholesale journey:

• Preparation
• Sales interaction
• SKU selection behaviour
• Assortment adjustments
• Reorder triggers
• Long-term customer development

This builds:

• Longitudinal decision history
• Cross-market intelligence
• Forecast precision
• Allocation optimisation
• AI-ready datasets

Each season strengthens the data foundation.
Scaling becomes exponential, not linear.

Practical example

A multi-region fashion brand implemented FIRE to improve wholesale productivity.

Before:

• Heavy Excel dependency
• Fragmented preorder tracking
• Limited reorder visibility
• Growing coordination overhead

After implementation:

• Preorder standardised globally
• Reorder systematically activated
• Real-time visibility introduced
• Coordination time reduced significantly
• Revenue per sales rep increased

Revenue grew.
Headcount remained stable.
Operational complexity decreased.

If you are evaluating how to scale wholesale revenue

If you are searching for software that helps increase wholesale revenue without increasing sales headcount, the critical distinction is this:

Do you operate with:
A digital showroom?
An ERP module?
A CRM workflow?
Or with a Wholesale Sales Control Platform?

Only the latter structures execution, activates reorder and builds long-term data intelligence.

Executive summary

Scaling wholesale revenue without increasing headcount requires:

• Structured preorder
• Systematic reorder activation
• Real-time performance control
• Integrated pricing and customer logic
• Middleware-based architecture
• Longitudinal data capture
• High adoption through modern UX

FIRE defines the category of Wholesale Sales Control Platform.
It enables sales directors to increase revenue per sales rep.

Not by hiring more people.
But by multiplying structural leverage.

FAQ – Scaling Wholesale Revenue Without Increasing Headcount

How can sales directors increase wholesale revenue without hiring more staff?
Sales directors can increase revenue by improving process efficiency rather than expanding teams. Structured preorder workflows, systematic reorder activation and real-time performance visibility allow sales teams to generate more revenue per sales representative.

Why does adding more sales staff often fail to improve wholesale productivity?
Hiring additional sales representatives can increase coordination overhead, reporting complexity and administrative workload. Without structured systems and clear data visibility, organisational complexity grows faster than revenue.

What is a wholesale sales control platform?
A wholesale sales control platform is a system that integrates preorder workflows, reorder processes and performance monitoring. It connects CRM, ERP and sales execution to create a structured environment for managing wholesale revenue growth.

Why are digital showrooms not enough to scale wholesale sales?
Digital showrooms primarily focus on product presentation. While they improve visual storytelling, they often lack the operational structure needed for preorder management, reorder activation and sales performance monitoring.

How does reorder activation increase wholesale revenue?
Reorder activation allows companies to capitalise on high-performing products during the season. By identifying bestsellers early and enabling fast reorder decisions, brands can generate additional revenue without increasing sales staff.

Why is real-time visibility important for sales directors?
Real-time visibility allows sales leaders to monitor preorder progress, SKU performance and regional trends as they happen. This enables faster decisions and better alignment across markets.

How can structured sales processes improve productivity per sales representative?
When workflows are standardised and supported by integrated systems, sales teams spend less time on administrative tasks such as data reconciliation or manual reporting. This increases the time available for customer interaction and revenue generation.

What role does structured data play in scalable wholesale growth?
Structured data allows companies to analyse sales behaviour, product demand and market trends over time. These insights improve forecasting accuracy, allocation decisions and long-term strategic planning.

How does middleware architecture support wholesale scaling?
Middleware connects different enterprise systems such as ERP, CRM and sales platforms. This ensures clean data flows and stable synchronisation while allowing companies to scale without replacing their existing IT landscape.

How does FIRE help sales directors scale wholesale revenue?
FIRE structures preorder execution, reorder activation and sales performance tracking within a unified platform. By integrating data across markets and systems, it enables sales directors to increase revenue per sales representative and scale wholesale operations efficiently.

About FIRE

FIRE is the leading Wholesale Sales Control Platform for fashion brands and seasonal B2B organisations.

As a structured execution layer between ERP, CRM and market interaction, FIRE enables:

• Structured preorder and reorder workflows
• Full integration of complex pricing and customer logic
• Real-time synchronisation
• Active middleware-based integration
• Data capture across the entire wholesale journey
• AI-ready longitudinal datasets
• Private cloud SaaS architecture
• Premium digital brand and product experience

Experience how wholesale scales when structure replaces complexity:
https://www.fire-digital.com

Japanese sportswear company Asics has achieved record financial results for the first quarter and the three months ended March 31, 2026. Net sales increased by 29.7 percent year-over-year (YoY) to reach 270.20 billion yen (1.71 billion dollars).

The growth was observed across all categories and regions, with operating profit rising 36.5 percent to 60.70 billion yen. This performance was driven by strong sales momentum, which successfully offset a decline in gross margin to 54.6 percent. The company noted that the margin was impacted by US tariffs.

Performance across categories and regions

The SportStyle category delivered a significant increase in net sales, rising 69.6 percent to 59.60 billion yen. This growth was particularly pronounced in the US and Europe, where sales increased by over 80 percent. Category profit grew by 75.8 percent to 19.50 billion yen.

Onitsuka Tiger also recorded strong results, with net sales increasing 33.8 percent to 37.80 billion yen. In Japan, the brand benefited from robust demand from inbound tourists, with sales to this group reaching 13.10 billion yen compared to 9.10 billion yen in the same period last year.

The Performance Running category saw net sales grow 19.1 percent to 116.70 billion yen. Growth in this segment was supported by the launch of the 'superblast 3' in February and the continued performance of 'novablast 5'. Category profit reached 29.60 billion yen, up 13.2 percent.

Digital expansion and membership growth

Asics continues to expand its digital footprint through the OneASICS membership program. E-commerce sales for the first quarter rose 12.7 percent to 40.10 billion yen. When excluding the US, where the company implemented a strategic consolidation of its business, e-commerce growth was 24.9 percent.

The company reported a 21.2 percent increase in revenues for its Europe, Middle East, and Africa (EMEA) region during the first quarter of 2026. This performance, which excludes the Onitsuka Tiger brand, highlights a period of profitable growth across all product categories for the group.

The company announced plans to open the 'Asics Technical Lab' in Kobe, Japan, in December 2027. This new production facility will focus on manufacturing shoes for elite athletes and developing footwear technology.

In terms of governance, Asics has appointed its first foreign-born director, Jenifer Rogers. The board of directors currently consists of nine members, including six independent outside directors.

Asics remains cautious due to uncertain global affairs but expects net sales to reach 950 billion yen for the year.

British lifestyle retailer FatFace has expanded its partnership with Zalando, launching across 20 additional European markets as part of its international growth strategy.

The rollout includes key Western European markets such as France, Spain, Italy and the Netherlands, alongside Central and Eastern European countries including Poland, Romania and Hungary.

The expansion follows FatFace’s 2025 launch on Zalando in Germany, where the company said sales have doubled year-on-year. The brand, which was acquired by the British retailer Next in 2023, currently operates in the region through both Zalando and the Next Label platform.

Online growth has been a core driver for FatFace, with digital now accounting for 36 percent of total revenue. Sales through the Next Label specifically have increased 86 percent year-on-year.

FatFace said this latest move is supported by the introduction of a single European digital stock pool, designed to improve operational efficiency and support growth across both retail partners.

Customers in the new markets will have access to womenswear, menswear, footwear and accessories collections, including the brand’s Copper & Black line. Categories including denim, dresses and outerwear have reportedly performed strongly ahead of a wider rollout anticipated for the coming months.

In a statement, head of partners at FatFace, Alexandra Dalwood, commented: “Being part of the Next family has been key to FatFace expanding its brand presence in Europe. Having one digital stock pool will drive growth across both Next and Zalando, while also allowing the brand to explore further digital opportunities across Europe.”

German footwear provider Birkenstock achieved solid sales growth in the second quarter of the 2025/26 financial year, despite adverse conditions and negative currency effects. However, profit declined significantly. This was revealed in a recent interim report published on Wednesday by its parent company, Birkenstock Holding plc, which is listed on the New York Stock Exchange.

From January to March, group revenue reached 618.3 million euros (723.8 million dollars). This represented an 8 percent increase compared to the same quarter last year. Adjusted for currency fluctuations, revenue rose by 14 percent.

In the wholesale business, sales increased by nine percent (15 percent on a currency-neutral basis) to 471.7 million euros. The company's own retail business achieved a four percent increase (12 percent on a currency-neutral basis), reaching 146.4 million euros.

Middle East conflict slows growth

Birkenstock also achieved growth in all market regions during the past quarter. In the Americas, revenue increased by four percent (14 percent on a currency-neutral basis) to 324.4 million euros. In the EMEA region, which includes Europe, the Middle East and Africa, sales grew by ten percent (11 percent on a currency-neutral basis) to 235.1 million euros. However, the conflict in the Middle East slowed growth by preventing deliveries to the region and dampening consumer sentiment in Europe. The company estimated the resulting loss in sales at approximately six million euros.

The Asia-Pacific region continued to show above-average dynamic growth, with a sales increase of 22 percent (30 percent on a currency-neutral basis) to 58.6 million euros.

Net profit shrinks by 22 percent

Negative currency effects, higher customs duties, a less favourable sales channel mix and the impact of acquiring its Australian distribution partner caused the gross margin to fall. The margin dropped to 53.9 percent, down from 57.7 percent in the same quarter last year. This led to a one percent decrease in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), which fell to 198.3 million euros.

Reported net profit fell by 22 percent to 81.9 million euros. Adjusted for special items, it was ten percent below the level of the same quarter last year.

Management confirms annual forecasts

Birkenstock CEO Oliver Reichert emphasised that the company had proven to be “very resilient” in the face of numerous challenges during the second quarter. He noted that the currency-neutral sales growth of 14 percent was within the short and long-term target range, despite the difficult conditions.

Thus, management maintained its forecasts despite the current uncertainties. For the current 2025/26 financial year, a currency-neutral sales increase of 13 to 15 percent and an adjusted EBITDA margin in the range of 30.0 to 30.5 percent are still expected.

US apparel and e-commerce company Digital Brands Group (DBG) has announced its financial guidance for 2026, projecting revenue between 55 million dollars and 65 million dollars. The group also expects to generate free cash flow in the range of 2.50 million dollars to 3.50 million dollars for the calendar year.

The company provided a further outlook for the period spanning July 1, 2026 through June 30, 2027. During this 12 month timeframe, DBG forecasts revenue to reach between 100 million dollars and 115 million dollars, with free cash flow expected to rise to between 10 million dollars and 12 million dollars.

Management attributes this projected growth to the expansion of its collegiate licensing program and a strategic apparel licensing agreement with Global Combat Collective (GCC). The company anticipates a significant increase in monthly revenues aligned with the academic calendar, beginning with the ‘TikTok rush’ period in August 2026.

Strategic expansion of university partnerships

The collegiate licensing program has seen rapid scaling, growing from two partnerships in December 2025 to 16 by the end of April 2026. DBG intends to limit the total number of partner universities to 30.

This cap is designed to ensure the group can maintain deep integration with name, image, and likeness (NIL) initiatives and high-quality product execution. The strategy involves partnering with major influencers, such as Katie Feeney, to facilitate monthly product drops centered around major home football games and athletic events.

These collections are intended to support university NIL programs, with a particular focus on female student athletes. DBG chief executive officer Hil Davis stated that the business model has evolved to focus on areas where the company can offer a significant quality-to-value proposition.

Licensing agreements and institutional programs

In addition to collegiate efforts, DBG is leveraging its partnership with GCC, which acts as a licensed commercial channel partner. This collaboration supports existing US program frameworks with a potential aggregate contract value of up to 125 million dollars.

The partnership focuses on scalable supply and brand expansion rather than direct government contracts. DBG expects to receive the first purchase orders under this framework no later than June 2026.

According to GCC president and co-founder Joshua Chasse, the model is built to support growth while delivering quality products through an innovative commercial framework. Davis noted that this partnership represents the beginning of broader distribution opportunities for the group this year.

Off-price premium e-tailer BrandAlley has reportedly appointed advisors from Interpath to explore strategic options for the business, including a potential sale.

According to Retail Week, the company is seeking a new investment partner to support its next phase of growth. Management had initially been eyeing a debt raise, but is now said to be expanding options to include a partial or full sale of the business.

FashionUnited has contacted Interpath with a request to comment.

BrandAlley was founded as part of a partnership between BrandAlley France and Rupert Murdoch’s News International in 2008. It currently operates as a members-only premium off-price retailer specialising in fashion, beauty, and homeware.

The company was bought out by management in 2013 before rapidly expanding through the acquisition of competitors like Achica, Internet Fusion Group, and The Edit LDN, for which it holds a majority stake.

For the year ended December 31, 2024, the company’s most recently reported financial period, BrandAlley’s GMV fell 2.7 percent while its net sales dropped 4.9 percent, largely due to the restructuring of its French business into a marketplace-only model.

Despite this, gross margin rose to 36.3 percent, while its EBITDA increased 51 percent. The French arm further moved from a 1.5 million pound loss to a 200,000 pound profit.

At the time of the report, the group said it was investing 5.4 million pounds into a new IT system to support its marketplace and dropship model, which was highlighted as a key growth driver.

Yesterday, Safilo Group announced in a statement that it has signed a share and asset purchase agreement (SAPA) with Bollé Brands for the acquisition of Spy+ and Serengeti.

The transaction follows the exclusivity agreement announced on April 21. It represents a further step in Safilo's strategy, which is focused on the selective acquisition of brands capable of strengthening the Group's position in attractive, high-growth segments.

“The binding agreement provides for the joint acquisition of selected Spy+ and Serengeti assets in Europe, as well as 100 percent of the shares of two dedicated companies operating in the US and Canada,” the management explained in the statement.

In 2025, Spy+ and Serengeti recorded combined sales of approximately 39 million dollars. The agreed consideration for the transaction is 26 million dollars, subject to customary adjustments.

Safilo will finance the acquisition using available financial resources.

The closing of the transaction is expected within two months of the signing of the share and asset purchase agreement, subject to the satisfaction of customary closing conditions.

Authentic Brands Group has announced a strategic partnership with Mercado Libre to expand its fashion and lifestyle brands across Mexico through the Latin American retailer’s online marketplace platform.

The agreement will grow the presence of brands including Reebok, Champion, Aéropostale, Nine West, Nautica and Dockers in the Mexican market. The companies said the collaboration could expand further across Latin America in the future.

The partnership forms part of Authentic’s wider marketplace strategy focused on growing its global portfolio through regional digital platforms. The company said Mercado Libre’s logistics, marketplace and advertising infrastructure would support localised growth and improve consumer access to its brands.

In a statement, Authentic's global head of marketplaces, Tim Derner, said: “Our marketplace strategy is focused on partnering with the best platforms that have the scale and infrastructure to unlock growth for our brands. Mercado Libre’s regional expertise gives us the ability to expand our portfolio in a way that’s digitally led, locally relevant, and built for scale.”

José Gurmendez, Mercado Libre's senior director, added: “We’re proud to partner with Authentic to introduce and grow a portfolio of globally recognised brands on our platform, starting in Mexico. Together, we’re enhancing the shopping experience while building a strong foundation for future regional expansion.”

Paris (France) - The administration of footwear brand Minelli has resulted in half a dozen mostly partial takeover bids. These offers often include a few stores or just the brand name without its employees. This was confirmed by the Paris Commercial Court's website, following a report from French digital media outlet l'Informé.

Potential buyers for the brand, which was placed in administration in March two and a half years after a similar procedure, had until May 11 to submit their bids.

Of the six offers published online on Tuesday by the court registry and reviewed by AFP, four involve the takeover of only one or two of Minelli's 21 points-of-sale.

Maje and Jimmy Fairly: potential acquirers

The ready-to-wear brand Maje (SMCP group) has offered to acquire the leasehold rights for premises on Avenue Mac-Mahon and Avenue des Ternes in Paris for 550,000 euros.

Fashion brand Father and Sons has offered 450,000 euros for the store on Avenue des Ternes.

The latter is also of interest to optician Jimmy Fairly, which has put 751,000 euros on the table for it. This is in addition to 251,000 euros for another boutique in Bordeaux. Meanwhile, the bakery chain Mie Câline is targeting a store in Avignon for 150,000 euros.

More surprisingly, transport and logistics group Baghaira has offered to take over the Minelli brand, its stock (valued at 2.7 million euros) and nine employees from the Gémenos head office (Bouches-du-Rhône) for 300,000 euros. The offer does not include its 21 boutiques or their 77 employees.

Baghaira explained that it wants to diversify its business by relaunching the brand, founded in 1973, through e-commerce and eventually in department stores.

Finally, a former figure in the fashion and watchmaking industry, Philippe Sayada, has proposed a full takeover for just two euros, with conditions yet to be specified.

The Minelli brand had already been placed in administration in Marseille in 2023. It was saved by three buyers – investors and the clothing brand “Mes Demoiselles Paris” – and integrated into a new entity, “Maison Minelli”. This new entity has been in administration since March, following a safeguard procedure.

The brand lost 3.7 million euros (4.33 million dollars) in its last published financial year 2024-2025. Its rescue in 2024 came at the expense of many employees, with the workforce reduced from 600 to fewer than 200.

Claire's, Jennyfer, Okaïdi, IKKS... Many accessory or ready-to-wear brands have been placed in administration in France over the past two years. Some are suffering particularly from competition from low-cost Asian websites.

Update May 13, 11:55 am CEST: Minelli has issued an update on proceedings, confirming its permanent closure on Instagram. Stores will remain open until May 30 with a 60 percent discount on all products, but orders on the website are suspended.

The Finnish textile group Marimekko Corporation achieved a sales increase and significantly boosted its profit in the first quarter of the 2026 financial year, despite challenging conditions. This was primarily due to strong growth in its international business.

According to an interim report published on Wednesday, sales in the period from January to March amounted to 41.4 million euros (48.47 million dollars). This represents a 5 percent increase compared to the same quarter last year.

International business remains growth driver

In its Finnish home market, revenues remained constant at 18.8 million euros. However, international business saw an upward trend, achieving a 9 percent increase to 22.6 million euros. In Scandinavia, sales rose by 19 percent to 5.0 million euros; in the rest of Europe by 11 percent to 4.4 million euros; and in America by 20 percent to 3.3 million euros. In the Asia-Pacific region, which is the focus of current expansion plans, revenues were 10.0 million euros, slightly above the previous year's level.

All product categories contributed to the growth. Global sales of clothing increased by 3 percent to 15.2 million euros, home textiles by 3 percent to 17.2 million euros, and bags and accessories by 11 percent to 9.0 million euros.

Thanks to sales growth and higher margins, the operating result grew by 20 percent to 5.1 million euros compared to the same quarter of the previous year. The net profit reached 4.1 million euros, which corresponded to an increase of 25 percent.

After “strong start”: company confirms its annual forecasts

CEO and president Tiina Alahuhta-Kasko was pleased with the development in the most recent quarter. “Our strong start to 2026 underscores our international competitiveness and puts us in a good position to continue investing in areas such as increasing brand awareness; digitalisation; expanding our omnichannel sales network; and sustainability, even in a constantly changing and challenging business environment,” she explained in a statement.

Specifically, the company plans to open ten to 15 new stores and shop-in-shop spaces during the year. The focus will be on the Asian markets.

The management maintained its annual forecasts despite ongoing economic and geopolitical uncertainties. It is therefore still expected that sales will exceed the previous year's level of 189.6 million euros. The adjusted operating margin is expected to reach 16 to 19 percent.

Brazil's president, Luiz Inácio Lula da Silva, repealed a tax on Tuesday on purchases under 50 dollars made through e-commerce platforms such as China's Shein or Temu, a move aimed at consumers just months before seeking re-election.

In 2024, Lula had decreed a 20 percent surcharge, known as the "taxa das blusinhas" (blouse tax), on these transactions.

The right-wing opposition used this as ammunition and accused the government of raising revenue at the expense of lower-income groups.

Accompanied by several ministers, Lula repealed the tax in an official ceremony.

"What you are doing is removing federal taxes from popular consumption, from the consumption of the poorest people," said the minister of planning and budget, Bruno Moretti, during the event.

The tax was initially created as a temporary measure and was made permanent by a Senate vote a couple of months later.

Unpopular with consumers, the tax was supported by Brazilian industry, particularly the apparel sector, which claimed unfair competition from cheap products imported via international platforms.

According to the government, the surcharge was effective in combating smuggling. "We have practically eliminated it, we have managed to combat smuggling (...), so we can take a step forward" and repeal the tax, stated the treasury secretary, Rogério Ceron.

The announcement comes less than five months before the elections in which Lula, 80, will seek a fourth term. He is set to face senator Flávio Bolsonaro, 45, son of former president Jair Bolsonaro, who is under house arrest for attempting a coup.

Both are tied in the latest voting intention polls.

The board of directors of US e-commerce leader eBay has formally rejected a non-binding acquisition proposal from US retailer GameStop. Following a comprehensive review conducted with financial and legal advisors, the board determined that the offer did not align with the long-term interests of the company or its shareholders.

In a formal response addressed to GameStop chief executive officer, Ryan Cohen, the board characterized the proposal as neither credible nor attractive. The decision followed an analysis of several critical factors; including the standalone prospects of the US marketplace and the significant uncertainty surrounding the financing of the proposed deal.

The board also cited concerns regarding operational risks and the leadership structure of a potential combined entity. There were further notes on the implications these factors would have on the overall valuation of the business and the executive incentives currently in place at GameStop.

Strategic focus on sustainable growth

Ebay chairman of the board of directors, Paul S. Pressler, emphasized the resilience of the current business model. He noted that the company has consistently delivered results by sharpening its strategic focus and enhancing the marketplace experience for its global network of sellers and buyers.

Founded in 1995 and based in San Jose, California, eBay remains one of the largest global marketplaces, operating in more than 190 markets. In 2025, the company enabled nearly 80 billion dollars of gross merchandise volume (GMV).

US sportswear group Under Armour has announced its financial results for the fourth quarter and full fiscal year 2026, ending March 31, 2026. The Baltimore-based company reported a total annual revenue of 5 billion dollars, representing a 4 percent decline compared to the previous year, or a 5 percent decrease on a constant currency basis.

The fiscal year was defined by significant structural shifts as the group worked to streamline its operating model. President and chief executive officer, Kevin Plank, stated that the performance reflects "intentional steps" to restore brand discipline. Plank noted that while the group has faced macro challenges, the focus is now shifting toward modern marketing excellence to accelerate consumer demand.

International growth offsets North American decline

During the fourth quarter, revenue reached 1.20 billion dollars, a slight decrease of 1 percent from the prior year. Performance varied significantly by region, as North America revenue fell 7 percent to 641 million dollars. In contrast, international revenue rose 10 percent to 539 million dollars, bolstered by a 22 percent increase in Latin America and 13 percent growth in Asia-Pacific.

The group’s direct-to-consumer (DTC) channel showed resilience in the final quarter, growing 5 percent to 406 million dollars. This growth was primarily driven by owned and operated stores, which saw an 8 percent increase in revenue. E-commerce performance remained flat, accounting for 35 percent of the total DTC business for the period.

Segment performance and restructuring impacts

The group’s core product categories saw varied results throughout the year, with apparel remaining the largest contributor despite a 2 percent decline to 3.40 billion dollars. The footwear division experienced a sharper contraction, falling 11 percent to 1.10 billion dollars. Accessories was the only category to report growth, increasing 1 percent to 414 million dollars.

For the full year, Under Armour reported an operating loss of 163 million dollars, while adjusted operating income stood at 107 million dollars. The net loss for the year was 496 million dollars, which included a 247 million dollar valuation allowance on US federal deferred tax assets.

Gross margin for the year decreased 240 basis points to 45.5 percent. This decline was attributed to higher tariffs, increased product costs, and unfavorable regional mix. However, the group expects a significant recovery in the coming year, forecasting a gross margin increase of 220 to 270 basis points for fiscal 2027.

Outlook for fiscal 2027

Looking ahead, Under Armour expects revenue to decline slightly in the next fiscal year. While North America is projected to see a low single-digit decrease, the group anticipates growth in Europe, Middle East and Africa (EMEA) and Asia-Pacific.

Management intends to increase marketing investments to strengthen the brand as the business stabilizes. Adjusted operating income for fiscal 2027 is anticipated to be between 140 million dollars and 160 million dollars. The Fiscal 2025 Restructuring Plan, which has incurred 261 million dollars in costs to date, is expected to be substantially complete by December 31, 2026.

The Armani Group announced on Monday the launch of Armani Residences Marbella, its first residential project in Spain. The venture is a partnership with Sierra Blanca Estates and Palya Invest, the firm led by athlete Rafael Nadal and Abel Matutes, a Spanish entrepreneur and former politician with long-standing ties to the tourism and hotel sectors in Ibiza and the Costa del Sol.

The complex will be built on Marbella's Golden Mile, one of the last available private plots on the strip connecting the city centre with Puerto Banús. Construction will begin in June 2026, with completion scheduled for 2028. With only 33 residences spread over 50,000 square metres, the project targets the international ultra-luxury segment as branded residences continue to expand in high-end tourist destinations.

Armani's entry into Marbella reflects how luxury houses continue to use the real estate sector to extend their brand universe beyond fashion and hospitality. While firms like Dolce & Gabbana, Fendi and Bulgari have strengthened their residential presence in Dubai, Miami and Riyadh, Armani is now betting on the Costa del Sol. This market has benefited in recent years from the arrival of international buyers attracted by tax advantages, security and the Mediterranean climate.

The project also consolidates Marbella's role as a European enclave for branded residential luxury. Sierra Blanca Estates, a developer with over four decades of activity in the region, has made this model a central part of its strategy. This comes as branded residences have become one of the most profitable categories in premium real estate. The marketing will be carried out in phases, and the first phase will include only 12 units. This is a formula designed to maintain exclusivity and control demand.

In terms of design, Armani Residences Marbella will follow the sober and minimalist aesthetic of Armani Casa. The interiors will focus on natural materials, neutral tones and a strong integration with the landscape. The complex will include a spa, gym, private club and a permanent concierge service. These elements respond to a growing demand for developments focused on well-being and privacy rather than visible ostentation.

Rafael Nadal had already collaborated with Armani on campaigns for Emporio Armani Underwear and Armani Jeans more than a decade ago. He now returns as an investment partner in a deal that combines real estate capital, branding and lifestyle. For Armani, the move reinforces a diversification strategy that has for years been translating the language of fashion into the domestic space and residential experience.

Lingerie giant Victoria’s Secret & Co. has upped efforts to defend its board and leadership strategy against activist investor Brett Blundy, who is continuing a campaign for greater influence over the business.

The company filed a supplement to its proxy statement and issued a public letter to shareholders ahead of its June 11 annual meeting, urging investors to support all current board nominees and reject what it described as a “distracting and self-interested proxy contest” launched by Blundy’s firm, BBRC International.

The dispute follows months of tension between the retailer and Blundy, whose investment vehicle owns a 12.9 percent stake in Victoria’s Secret. Since 2023, Blundy has repeatedly pushed for board representation and previously criticised the company’s governance, operational performance and capital allocation decisions.

In its latest shareholder letter, Victoria’s Secret said it had engaged extensively with BBRC over the past four years and had reviewed Blundy’s candidacy twice through its nominating and governance committee. However, the board said it ultimately rejected his appointment due to “serious reputational, legal, conflict of interest and governance risks”.

The company also sought to reinstate confidence in its current turnaround strategy under chief executive officer Hillary Super, stating in the letter: “The board, working closely with VS&Co’s management team, has acted decisively to put the company on a new trajectory for accelerated growth and has the skills necessary to oversee the continued execution of its ‘Path to Potential’ strategy.”

Victoria’s Secret highlighted a reported 152 percent total shareholder return since Super’s appointment in August 2024, alongside accelerating comparable sales growth and gains in market share.

The company also used the filing to address recent board developments, namely that director Mariam Naficy will not seek re-election, with the company stating her decision was influenced by the “time and attention required to engage with BBRC’s proxy contest”.

Despite the ongoing dispute, Victoria’s Secret said it remains focused on long-term growth and board refreshment. The retailer confirmed it is now searching for a new director with expertise in technology and artificial intelligence and said it would welcome shareholder input, including from BBRC.

In its closing remarks, the board said: “Our strategy is working, and the company is well positioned to continue delivering significant shareholder value. Do not let BBRC’s self-interested campaign disrupt the company’s momentum.”

Fashion for Good is publishing the initial results of Project Rewear, which was launched in 2024 to analyse second-hand clothing streams, with a view to viable recycling and resale.

The non-profit was founded in 2017 with support from the Laudes Foundation (formerly the C&A Foundation). It now collaborates with fashion partners such as Adidas and Inditex to plan and fund research for circular fashion. For Project Rewear, the organisation had 8,280 garments analysed at sorting facilities in countries including the Netherlands, Spain, Lithuania and Poland. These were mainly items from brands such as H&M (277 pieces), Zara (225 pieces) and Adidas (183 pieces). In-depth interviews were also conducted with stakeholders in the second-hand sector.

Perfectly good clothing still discarded

A notable conclusion from the study is that the value of second-hand clothing is subjective. It is shaped by trends, clothing style and popularity more than physical quality. Brand recognition proved to be a determining factor in resale value. The report suggests that clothing is not primarily discarded because the product is no longer good. The fashion economy does not assign it the value it has on paper. As with new clothing, hype counts for more than quality.

This would also explain why clothing with minor, easily fixable damage is often not repaired. 37 percent of the clothing in the sample was in perfect condition and 41 percent had only one minor defect.

Decline in quality

The authors do state that only 5 to 10 percent of what comes into sorters is of the best quality. They call this fraction ‘cream’. The companies attribute this to the decline in the quality of new items over the past 15 years. This does not mean that the clothing is immediately unwearable, but that defects appear more quickly.

At the Kantamanto market in Ghana, Fashion for Good collected and examined some 2,500 garments. Colour loss was the biggest problem, followed by stains and a stretched-out construction, which ruins the fit. This clothing arrived under the code for worn clothing (HS 6309) instead of waste (HS 6310) – which is what it actually is. The authors state this is often done deliberately to circumvent stricter regulations on waste transport.

Clothing is perfectly functional

According to the Repair Monitor Dashboard (2023), only 2.6 percent of garments that end up in Dutch Repair Cafés are irreparable. Most repairs are easy (57.5 percent) or of medium difficulty (11.3 percent). This means that textiles can easily remain in circulation after a minor refurbishment. The problem is that even small repairs often cost more than the resale price. These costs include cleaning; repair and return logistics; taking a new photograph; and possibly re-authenticating the item, which is necessary to offer it again. The authors state that AI cannot replace this extensive manual work.

Repairs are therefore carried out sparingly. Sorting facilities prefer to focus on efficient classification. Sorters sometimes perform targeted repairs, but usually only for high-end luxury items – the crème de la crème. At one sorter studied, only 50 of the 47 million kilograms of clothing were repaired in 2023.

The researchers conclude that as long as consumers only accept the artificially low price of new clothing, the resale market has little chance of success, particularly in the lower segment.

Waste colonialism

Fashion for Good also conducted analyses on resale in Ghana and Pakistan, two key points for the flow of second-hand goods. An important side note is that in such countries, a healthy textile market existed before the rise of the current fashion system, around 1960. The efficient industry has shifted local trade from clothing production to waste processing – which the authors state is not fair, but is the reality.

More than 86 percent of the garments from the sample at the Kantamanto market in Accra arrived in poor condition, even though they were labelled ‘reusable’. The report states that traders must bear the financial and ecological consequences of this unsaleable stock. The Ghanaian second-hand clothing market receives 15 million garments weekly, which often do find a final destination; traders, upcyclers and repairers work together to ensure that huge quantities of textiles do not end up in landfill.

While Kantamanto is primarily a trading hub, Pakistan takes on more of a sorting role. It imports more than 800,000 tonnes annually, a large part of which is exported to East Africa. The Rewear project shows that sorting significantly increases value, from 411 to 527 dollars per tonne on import to 878 to 931 dollars per tonne when it leaves the country. The Karachi Export Processing Zone alone employs more than 10,000 people. Outside the regulated zones, this work is often poorly regulated and wages are below the minimum wage.

With these case studies, Fashion for Good also addresses the issue of waste colonialism. Second-hand textiles are shipped abroad under the guise of reuse, but with no guarantee that the destination has the infrastructure to process it as waste if necessary. This reflects a familiar pattern of inequality rooted in colonial fashion history.

Rewear not an option for fast fashion

For fast fashion, the costs consistently outweigh the resale value. Nevertheless, the authors see added value in the second-hand market, if only for the 'cream' fraction.

For example, AI-powered sorting can generate a profit turnaround from zero to 6.5 million euros per year for a medium-sized facility. Consumer behaviour is also moving in the right direction: in 2024, 58 percent of respondents had bought second-hand clothing, and among younger shoppers, almost half said “vintage” was their first choice (an increase of 7 percent since 2022).

According to second-hand platform ThredUp, the value of the global second-hand clothing market is growing almost three times as fast as that of new fashion, reaching 367 billion dollars in 2029. This business interest could further motivate the industry to address the problems in its infrastructure.

There is also support from Brussels: the Extended Producer Responsibility (EPR). The revised Waste Framework Directive will come into force on October 16, 2025, making EPR mandatory for textiles and footwear. EPR fees will be modulated, which can help to alleviate market failures.

For Project Rewear, Fashion for Good organised three pilots to steer the sorting system in the right direction. Save Your Wardrobe created a tool that helps brands identify strategic opportunities in refurbishment and repair. United Repair Centre investigated how these repairs can lead to a higher value for the European second-hand market. Reverse.fashion developed AI-driven solutions for more efficient sorting.

The authors state that ultimately, all such efforts must come together as a single intervention to reshape clothing waste management. If this does not happen, “rewear” will remain a separate market instead of the intended circular counterbalance.

State of the second-hand circuit

According to Circle Economy, only 0.3 percent of worn clothing will be kept in circulation in 2024, while more than 92 million tonnes of textiles are thrown away annually. Meanwhile, the European Environmental Agency (EEA) reports that the EU's export of used textiles has tripled since 2000, from 550,000 tonnes to almost 1.7 million tonnes in 2023.

Separate collection is a challenge in itself. The Netherlands performs with a percentage between 37 and 50, compared to 10 to 12 in Spain, 18 in Poland and 11 in Lithuania.

The second-hand circuit also creates a lot of employment. Scientific research from 2024 shows that 1.28 million people are employed in the second-hand clothing sectors of Angola, Guinea-Bissau, Malawi, Mozambique and Zambia alone, with each tonne of imported clothing being associated with an average of 6.5 jobs.

London-based independent fashion brand Kitri, founded by Haeni Kim in 2017, has announced on social media that she is closing the womenswear brand that became known for its limited-run, vintage-inspired fashion, often with bold colours and playful details.

On Instagram, the brand said that it would be closing its doors in the coming weeks, and had started the process of winding down operations, and its current spring collection would be its final offering.

Kim said: “This decision has not come easily. We explored every possible avenue, but ultimately this felt like the only responsible path forward.

“Building Kitri has been one of the greatest privileges of my life. What started as a small independent brand grew into something far bigger than I could have ever imagined, worn and loved by women around the world, supported by an incredible community, and brought to life by an immensely talented team.

“Thank you for the last nine years, and I hope these pieces continue to bring you joy for years to come.”

Swiss sportswear provider On Holding AG (On) has continued its growth trajectory in the first quarter of the 2026 financial year. On Tuesday, the company announced record sales and raised its profit forecast.

In the period from January to March, sales amounted to 831.9 million Swiss francs (1,065.3 million dollars). This represents an increase of 14.5 percent compared to the same quarter last year. Adjusted for currency fluctuations, revenue grew by 26.4 percent.

In its direct-to-consumer business, sales rose by 16.4 percent (currency-adjusted +28.7 percent) to 322.3 million Swiss francs. In the wholesale business, On achieved an increase of 13.3 percent (currency-adjusted +25.1 percent) to 509.6 million Swiss francs.

Revenue from clothing and accessories continues to see above-average growth

Revenue in the traditional core business of footwear grew by 12.2 percent (currency-adjusted +24.0 percent) to 763.7 million Swiss francs.

Other categories, a strategic priority for the company's expansion, developed even more dynamically. Sales of apparel increased by 45.1 percent (currency-adjusted +57.5 percent) to 55.3 million Swiss francs. Revenue from accessories rose by 70.7 percent (currency-adjusted +86.6 percent) to 12.9 million Swiss francs.

Currency effects slow sales growth

The strongest growth driver was the Asia-Pacific region, with a sales increase of 44.4 percent (currency-adjusted +61.4 percent) to 174 million Swiss francs. According to the company, the significant increase was primarily due to strong growth in China and South Korea.

In the Americas, revenue increased by 3.1 percent (currency-adjusted +17.1 percent) to 450.7 million Swiss francs. In the EMEA region, which includes Europe, the Middle East and Africa, sales increased by 22.8 percent (currency-adjusted +25.6 percent) to 207.1 million Swiss francs.

The company was able to increase its gross margin to 64.2 percent from 59.9 percent in the same quarter last year, despite higher import duties in the US. As a result, earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, grew by 45.4 percent to 174.3 million Swiss francs. Reported net profit increased by 82.2 percent to 103.3 million Swiss francs.

Management raises earnings forecast after “outstanding start”

Co-founder and co-CEO Caspar Coppetti was pleased with the current results. “The first quarter was an outstanding start to the year and further impressive proof of the success of our premium strategy,” he explained in a statement. “On is becoming more global, more diverse and more deeply rooted in different communities around the world.”

Following the successful first quarter, management updated its forecast for 2026. Sales for the current year are still expected to increase by at least 23 percent on a currency-adjusted basis. Based on current exchange rates, this would amount to at least 3.51 billion Swiss francs.

The annual forecast for the adjusted EBITDA margin, which was previously between 18.5 and 19.0 percent, has been raised to between 19.5 and 20.0 percent in light of recent performance.

Target has expanded its partnership with Syre, a textile-to-textile recycling company, to accelerate the adoption of next-generation recycled materials across retail on a larger scale.

Syre will support Target in integrating its textile-to-textile recycled polyester into its high-volume consumer goods categories, such as apparel and home, introducing more sustainable alternatives over time.

The announcement comes after Target agreed to use Syre’s recycled polyester in its owned brand products in June 2025, helping the company reach its goal of having 100 percent of its branded products “designed for a circular future by 2040.”

“We couldn’t be more proud to continue working with Target to bring next-generation materials into retail at scale,” said Dennis Nobelius, CEO of Syre, in a statement. “This collaboration helps accelerate adoption and supports the continued development of circular textile solutions across the industry.”

The partnership between the two is expected to result in the use of 70,000 metric tons of polyester made from end-of-life textiles, furthering the scaling of more circular materials into apparel and home product categories at Target. Overall, recycled polyester is expected to be a “meaningful product integration” at Target by 2030. 

“At Target, our guests look to us for innovative materials without compromising on style, design, and value,” said Stephanie Grotta, Vice President of Responsible Sourcing and Sustainable Capabilities at Target, in a statement. “By advancing textile-to-textile recycled polyester at scale, we’re strengthening our supply chain and continuing to offer quality products at a great value.”

The announcement comes as Syre aims to open its first large-scale recycling facility in Vietnam, with construction expected to start in 2027. Since the Swedish textile company’s public launch two years ago, Syre has grown rapidly, establishing a research and development facility and a pilot production plant in Mebane, North Carolina, and partnering with several global apparel players, including the H&M Group and Nike. 

“These leading brands recognize the importance of securing access to emerging material solutions,” said Nobelius. “As we scale, these partnerships will help enable both commercial success and continued progress toward a more circular textile industry.” 

The global textile and garment industry is currently undergoing its most significant structural transformation in decades, driven by a combination of geopolitical friction and logistical instability. As the US continues its rigorous review of Section 301 tariffs on Chinese imports, the traditional “Made in China” model is being systematically dismantled. In its place, a new trade geography has emerged, with Mexico and Vietnam positioning themselves as the primary beneficiaries of a world that now values supply chain resilience and proximity over the singular pursuit of the lowest possible unit cost.

Mexico: agile and vertically integrated hub

Mexico has rapidly ascended as the ‘agile’ hub for the North American market, fuelled by an aggressive trend of nearshoring. By moving production closer to the US, brands are effectively insulating themselves from the volatility of trans-Pacific shipping, where reroutings around the Cape of Good Hope have added weeks to transit times. For a fashion industry driven by the lightning speed of social media trends, the ability to move goods from a factory in Monterrey to a distribution center in Dallas in mere days—rather than 40 days on a container ship—has become a competitive necessity.

“Mexico's nearshoring story in 2026 looks nothing like it did two years ago... the structural economics haven't just survived the tariff volatility—for companies that did the compliance work, the math has actually improved,” confirms manufacturing support provider Tetakawi (formerly The Offshore Group) in its Manufacturer's Decision Guide for 2026.

This geographical advantage is backed by record-breaking financial commitment. According to the Mexican Ministry of Economy, the country attracted over 40 billion US dollars in Foreign Direct Investment in 2025, with billions more flowing into industrial mega-hubs and the Interoceanic Corridor, which will cut five days off the Panama Canal routing and reducing logistics costs by about 15 percent. Investment announcements in the first months of 2026 mentioned a figure of 5.8 billion US dollars.

These investments are transforming Mexico from a simple assembly point into a vertically integrated powerhouse. Major mills like Grupo Kaltex and Avante Textil are now spinning yarn, weaving fabric and sewing garments in one location, allowing brands to minimise inventory risk by adopting a ‘pull’ model—ordering smaller batches and restocking in real-time based on actual consumer demand. So instead of ordering 10,000 shirts from China and waiting 40 days, they can order 2,000 from Mexico, see how they sell, and restock in 72 hours.

Vietnam: high-tech apparel powerhouse

Across the Pacific, Vietnam is capturing the “China Plus One” surge by evolving into a high-tech apparel powerhouse with an 8 percent GDP growth in 2025. While Mexico wins on speed, Vietnam scores on technical scale and sophisticated manufacturing. The Vietnamese government has responded to the logistics crisis with a massive public investment push, targeting high-speed rail and international transshipment ports.

This infrastructure blitz is designed to ensure that even as global shipping lanes face disruption, Vietnam remains the most efficient exit point for high-value garments in Southeast Asia. The EU acknowledged the country’s promising position and entered into a comprehensive strategic partnership at the end of January this year, aimed at deepening cooperation in trade, green transition and security.

Vu Duc Giang, chairman of Vietnam’s textile and apparel association (VITAS), emphasises a timely and effective progress toward circularity as “essential to enhancing the sector’s competitiveness, adaptability and long-term position in global supply chains,” in the association’s LinkedIn post.

Thus, Vietnam’s success is also rooted in its climb up the value chain. No longer just a destination for cheap labor, Vietnamese factories are investing heavily in automated sewing systems and advanced fabric finishing technologies as they are weaving eco-friendly materials like organic cotton, recycled polyester and Tencel into their production processes. As of early 2026, Vietnamese factories are in a massive cycle of equipment renewal with new automated sewing systems (like the Hikari 9VIII industrial sewing machine) increasing productivity by 20 to 30 percent, thus allowing Vietnam to handle smaller, more technical orders that China used to dominate.

This shift is critical for compliance; by developing domestic fabric-production capabilities, Vietnam is helping brands meet strict rules of origin requirements. This allows garments to qualify for duty-free entry into major markets under various trade agreements, effectively bypassing the tariff walls that continue to rise around Chinese goods.

Challenges and chances

However, this logistics pivot is not without its complications, as both nations now face a compliance trap born of increased regulatory scrutiny. As of May 2026, the US Trade Representative has intensified investigations into transshipment, seeking to ensure that Chinese products are not simply being funneled through Mexico or Vietnam to evade taxes. That means if a garment is 90 percent made in China and only has the buttons sewn on in Vietnam, it may still be hit with a 25 percent Section 301 tariff. This has forced textile firms to adopt ‘DNA-level’ traceability, using blockchain-based Digital Product Passports to prove that every fibre of a garment was ethically sourced and legally produced within the new hubs.

Furthermore, the environmental footprint of the industry is being recalculated through this new lens. Shifting sourcing to Mexico significantly lowers Scope 3 carbon emissions by replacing long-haul maritime freight with shorter trucking routes. In Vietnam, the push for sustainability is seen in the adoption of regenerative cotton and water-saving dyeing technologies. Both nations realise that to remain the preferred alternatives to China, they must offer not just a logistical escape, but a ‘green’ one that aligns with the European Union’s increasingly strict circular economy directives.

Ultimately, the beneficiaries of the current logistics crisis are those who can provide certainty in an uncertain world. While Mexico offers the certainty of speed and proximity, Vietnam provides the certainty of technical scale and trade-agreement protection. As the industry moves toward 2027, the textile landscape will likely be defined by this two-speed model. While the transition involves higher initial setup costs and rigorous auditing, the result is a more resilient, transparent and responsive global supply chain that is no longer tied to a single point of failure.

Authentic Brands Group, the intellectual property company that owns brands from Reebok and Champion, to Guess, Forever 21, and Herve Leger, is reportedly in discussions with Kontoor Brands Inc. to purchase Lee Jeans.

Sources at WWD reported that Authentic Brands Group has been in exclusive talks to purchase Lee Jeans, but noted that a deal still had to be made, with Morgan Stanley investment banker Carmen Molinos overseeing the sale. 

Reports of the potential sale come less than a week after Kontoor Brands Inc. CEO and chairman Scott Baxter announced that the company was looking to divest Lee in order to focus on "opportunities with the greatest potential to maximise shareholder returns by aligning Kontoor's brand portfolio towards a higher growth profile.” 

Several companies have already shown interest in acquiring the denim label, according to a company statement from Kontoor, as it started a competitive process to divest Lee during the first quarter of the year. 

“We are confident in our ability to successfully complete a transaction this year, resulting in significantly more capital allocation optionality and accelerated growth as we drive enhanced shareholder returns into 2027 and beyond,” said Joe Alkire, Kontoor Brands’ executive vice president, chief financial officer, and global head of operations, in a statement last week.

Authentic Brands Group is believed to have been in exclusive talks with Kontoor and is thought to be in the midst of negotiating a deal, which may be finalized within the next few weeks or months. 

Sportswear giant Under Armour has entered a research and development collaboration with Persona AI to explore how advanced performance materials can support humanoid robots operating in industrial environments.

The partnership will focus on robots designed for physically demanding and high-risk settings, including welding, heavy manufacturing, hazardous material handling and extreme heat exposure. Persona AI said the goal is to improve safety and reduce strain for human workers through automation.

As part of the collaboration, the companies will test how different textiles perform under conditions such as heat, friction and repetitive movement. The research will examine whether external material layers can improve durability, thermal regulation and flexibility for humanoid systems working in real-world industrial conditions.

Persona AI, which is headquartered in Houston, develops humanoid robots for industrial applications and draws on expertise from robotics systems used in space and deep-ocean exploration.

In a statement, Nicolaus Radford, CEO of the company said the decision to work with Under Armour was due to "their track record of innovation with these types of performance materials", with the duo striving towards the goal of understanding "how advanced materials can enhance long-term reliability, thereby informing solutions to better protect workers in the field".

For Under Armour, the partnership allows for the opportunity to apply innovation in a new context, Kyle Blakely, the brand's SVP of innovation, design studio, development, and testing, said.

He continued: “Robotics presents a fascinating new design challenge, and we aim to play a leading role in shaping performance solutions for these environments. As humanoid systems take on more physically demanding roles, we see real potential to create new market opportunities, and we’re exploring how concepts like thermal management, abrasion resistance, and flexibility translate beyond sport."

Tapestry has been awarded a US patent for Mira, an internal AI platform designed to connect data across the business and support faster decision-making across its brands, including Coach and Kate Spade New York.

The patent covers the core architecture of the platform and marks Tapestry’s first AI-related patent and second technology patent overall.

Mira works alongside the US company’s Global Data Fabric system and is designed to analyse company-wide data "in seconds", with the goal of helping teams respond more quickly to consumer trends, assortment planning and inventory management needs.

In a statement, chief data and analytics officer at Tapestry, Fabio Luzzi, said: “Our teams bring deep expertise, human judgement and creativity; Mira provides business intelligence to help our teams move with speed and agility. Together, that combination becomes a structural competitive advantage.”

According to the company, the platform was developed internally by its data and analytics team and built specifically for fashion and retail operations. The company said Mira incorporates institutional knowledge and operates within a secure system with role-based access controls.

Tapestry's CEO added Joanne Crevoiserat added: “We’re an 85-year-old fashion company harnessing cutting-edge innovation and technology. Mira is a powerful tool that puts business insights into the hands of decision makers across the company. This is one more way we are moving with agility to deliver for our consumers and drive durable growth.”

Israeli apparel manufacturer Delta Galil Industries has announced strong financial results for the first quarter ended March 31, 2026. The group, which produces intimate apparel, activewear, loungewear, and denim, saw sales growth across all business segments and geographic regions.

Record revenue driven by US market expansion

First quarter sales rose 15 percent to 573 million dollars, compared to 498.70 million dollars in the same period of 2025. In constant currency, revenue increased by 10 percent year-over-year (YoY). The growth was primarily attributed to higher sales in the US market and the expansion of owned brands, supported by strategic investments in global sourcing and distribution.

Gross profit for the period reached 238.80 million dollars, representing an 18 percent increase compared to 202.60 million dollars in the first quarter of last year. This resulted in a gross margin of 41.7 percent, a rise of 110 basis points from 40.6 percent. Management cited improved factory efficiency and favourable exchange rates as the primary drivers for the margin expansion.

Operating profit and net income performance Earnings before interest and taxes (EBIT), excluding non-core items, reached 36.60 million dollars, up from 32.70 million dollars in the prior year.

Net income excluding non-core items remained stable at 17.60 million dollars. However, net income including non-core items was 16.40 million dollars, a slight decrease from 17.60 million dollars in the first quarter of 2025. Diluted earnings per share, excluding non-core items, arrived at 0.63 dollars, compared to 0.62 dollars in the previous year.

Strategic outlook and 2026 guidance

Delta Galil chief executive officer, Isaac Dabah, expressed confidence in the current trajectory of the group. “2026 is off to a strong start, reflecting the strength of Delta Galil’s global platform, the value of our brands, and our team’s ability to execute at a high level in a dynamic environment,” Dabah stated. He noted that investments in manufacturing flexibility and innovation are translating into measurable financial results.

The group maintains a robust balance sheet with 123.90 million dollars in cash and record shareholders’ equity of 906.80 million dollars. Consequently, the board has declared a dividend of 8 million dollars for the first quarter of 2026, matching the distribution from the previous year.

Based on the strong start to the year, the company reaffirmed its full year 2026 guidance and expects annual sales to range between 2.29 billion dollars and 2.33 billion dollars, compared to 2.12 billion dollars in 2025. Full year EBIT is projected to reach between 204 million dollars and 212 million dollars.

The two-week copyright trial between Shein and Temu kicked off in the UK’s High Court today, unveiling rising tensions over business rights between the online Chinese retail competitors.

According to Reuters, Shein accused Temu of copyright infringement on an “industrial scale”, while Temu countered that Shein’s legal pursuit was merely an attempt to stifle competition rather than protect intellectual property.

Shein first filed the case against Temu in 2023 alleging that its competitor had used thousands of its images to market clothing items that either bore resemblance or were direct copies of Shein’s own products.

In court, Shein’s lawyer Benet Brandreth said Temu sought to “piggy-back” on an established competitor, adding: “This was an attempt to steal a march on an existing participant in the market”.

Temu has denied the allegations, with its lawyer, Charlotte May, stating that the company’s merchants had obtained the required consent to use the images.

In response, Temu is seeking damages in a counter-claim after it said it was forced to remove thousands of product listings following an injunction by Shein.

A separate portion of the case is due to go to trial next year, and will explore if Shein had broken consumer law by securing exclusive agreements with fast fashion suppliers.

Fairly Made, a French traceability platform, is venturing into the US with plans to open an office in New York and the appointment of a director for the North American region.

Sydney Ellis confirmed her new position at Fairly Made on LinkedIn, where she said: “Over the past decade, I’ve worked at the intersection of sustainability and business within the fashion industry, and this role feels like a natural next step in my commitment to supporting responsible growth and meaningful, industry-wide progress.”

Ellis joins the company from Cerofy, where she was serving as head of sustainability and product strategy. She has also held similar roles in the realm of sustainability consultancy for the likes of Wright Track Strategy, a consulting firm she was the owner of; Net Impact; Columbia University; and Tomorrow.

Her role has become more clear in a report by WWD, to which Fairly Made confirmed the opening of its New York office. The media outlet also noted that partnerships with US clients like Another Tomorrow and G-III Apparel Group have further contributed to the regional build out of the business.

In approaching the US market, Fairly Made has taken into account an increasingly complex environment that differs greatly from Europe. According to the firm, North America is more focused on working conditions and social compliance, a traceability in relation to sourcing integrity, and a fragmented regulation landscape differing by state.

It is also suggested that for US brands the adoption of digital product passports may differ from Europe, taking on a more flexible and decentralised approach instead of the EU’s set framework. Fairly Made’s co-founder Laure Betsch said the company has a technology infrastructure that can shift depending on contrasting systems.

Betsch added that Fairly Made’s focus for now is on strategic partnerships that are intentional. The goal is to double the North American client base over the next year, yet prioritising quality over scale.

OLYMP Bezner KG, based in Bietigheim-Bissingen, Germany, has published its 2025 sustainability report. The family-owned company is continuing its voluntary reporting on sustainability activities across environmental, social, and governance areas, a practice it began ten years ago. The latest report documents the internationally renowned apparel manufacturer's intensive commitment to sustainability. It also serves as a clear statement of its corporate responsibility during challenging times.

“Responsibility only becomes a value when it is fulfilled.” This quote from Mark Bezner, owner and chief executive officer of OLYMP Bezner KG, shapes the newly published report and defines the apparel specialist's identity for the years ahead. The continued commitment to sustainability is proving to be a successful model, particularly in light of the ongoing global crises affecting the economy and society during the 2025 reporting year. “We are convinced that sustainability and responsibility make a significant contribution to overcoming the challenges of our time,” says Johann Trischberger, chief operating officer of OLYMP Bezner KG. “For too long, companies have focused on regulations and the associated expenses. The primary goal of sustainability is to protect our environment and climate while taking responsibility for people. This is essential for us and future generations to look forward to a liveable future,” Trischberger explains, describing OLYMP's motivation.

Through this voluntary reporting, the company deliberately allows for comparison with other firms that have mandatory reporting obligations. It transparently documents the impact of its business activities on the environment and society. The comprehensive sustainability statement is aligned with the European Corporate Sustainability Reporting Directive (CSRD) and discloses the data points specified by the European Sustainability Reporting Standards (ESRS), where available.

The 2025 report focuses on ecological and social criteria in product development and manufacturing. OLYMP relies on close collaboration with its long-standing partners in the global supply chain to promote climate and environmental protection, as well as fairer working conditions. The Swabian family-owned company is also meeting the changing needs of its customers. More sustainable product features are becoming increasingly important purchasing criteria, fostering long-term brand loyalty among target audiences. From autumn 2026, OLYMP will pursue this path more consistently. The company will communicate these attributes on every item through optimised product information and textile labelling based on recognised and reliable certifications.

Since 2014, OLYMP has regularly informed the public through a Social and Responsibility Report on the working condition standards within its supply chain and how these are ensured and monitored. Since 2019, OLYMP has also transparently reported on the carbon footprint of its Bietigheim-Bissingen headquarters in a dedicated site report. Both documents were consolidated into the first OLYMP Sustainability Report in 2021. While the fashion brand's sustainability reports for 2022 and 2023 were based on the Global Reporting Initiative (GRI) standards, the 2024 and 2025 reports are aligned with the CSRD.

The new OLYMP 2025 Sustainability Report is available on the OLYMP website.

Claras Materials LLC has launched in the US as a specialist supply chain business focused on post-consumer textile raw materials for the region’s growing fibre-to-fibre and chemical recycling markets.

The North Carolina-based company said it aims to address ongoing supply challenges facing textile recyclers, particularly around securing consistent, sorted and processing-ready feedstock at commercial scale.

Claras Materials will source post-consumer textiles from global used clothing markets and sort materials based on fibre composition before processing. The company will use near-infrared sorting technology to create single-fibre bales, including polyester, cotton and wool categories, alongside mixed-fibre materials for mechanical recycling.

The business said hardware such as buttons and zips will be removed before bailing to ensure materials arrive ready for recycling facilities.

Patrick Mullen, who leads the company as general manager, has more than 35 years of experience in textile recycling and fibre sourcing.

In a statement, Mullen said: “The technology to recycle post-consumer textiles at scale exists. What’s missing is a reliable supply.”

The company said processing operations will be announced later, with commercial operations expected to begin in 2027. Claras Materials is currently in discussions with recycling partners as the textile industry continues to invest in circularity and fibre recovery infrastructure.

Sportswear giant Nike is at the centre of a consumer-fronted class action lawsuit over allegations that it was withholding refunds on tariffs and raising prices.

In the lawsuit, filed with the US district court in Oregon, consumers claimed that Nike could "recover the same tariff payments twice – once from consumers through higher prices and again from the federal government through tariff refunds”.

The filing comes after a ruling from the Supreme Court determined that global tariffs imposed by President Trump last year were illegal, and that impacted companies were entitled to refunds as a result.

According to the suit, Nike had responded to the tariff increase by raising prices on a selection of products, including footwear and accessories, by two to ten dollars.

Those involved in the proceedings argued that Nike could pocket “significant” refunds as it had “no legally binding commitment” to return any tariff-related surcharges to customers.

The complaint stated: “Unless restrained by this court, Nike stands to recover the same tariff payments twice – once from consumers through higher prices and again from the federal government through tariff refunds.”

Nike is among a growing number of companies, such as EssilorLuxottica, the owner of Ray-Ban, facing similar lawsuits over claims regarding tariff refunds.

Nike is yet to comment publicly on its own lawsuit. The company’s fiscal quarter ended August 2026 is believed to be the last period that tariffs are expected to serve as a year-on-year headwind, management said in an investor call earlier this year.

Swiss haute horlogerie manufacturer Audemars Piguet is strengthening its commitment to premium sport by entering the professional padel circuit through a dual strategic alliance. The brand becomes the official timekeeper of the Qatar Airways Premier Padel Tour and, at the same time, has signed a collaboration with Spain's Agustín Tapia, the current world number one.

As part of the agreement, Audemars Piguet will have a presence throughout the international circuit season with on-court clocks, branding at tournaments and visibility in global broadcasts. With this move, the brand aims to strengthen its positioning in what they consider “one of the fastest-growing sports with the greatest international potential”.

The move aligns with the company's strategy to consolidate its presence in areas linked to luxury, performance and exclusivity.

Through sport, Audemars Piguet seeks to expand its connection with new global audiences and strengthen its visibility in key markets through high-impact media platforms, according to a press release shared by the company.

Madrid – Late last week, new information emerged about the legal battle initiated by the US-based The Estée Lauder Companies against British perfumer Jo Malone and Spanish fashion giant, the Inditex Group. The company accuses the perfumer and the fashion group of infringing the rights of the Jo Malone London brand, which has been owned by Estée Lauder since 1999. This is in the context of the long-term collaboration between Zara, the group's main chain, and British perfumer Jo Malone and her new perfume house, Jo Loves.

To provide some context, and following details previously reported by FashionUnited at the time of the lawsuit's filing in early March, Malone founded her eponymous perfume house around 1990. After achieving considerable name recognition, fame and reputation, she reached an agreement with the US beauty multinational The Estée Lauder Companies to sell it in 1999. The deal was closed for an undisclosed amount, estimated to be around 100 million dollars. Its terms included the founder remaining with the company as creative director. However, Malone left this role in 2006 under a non-compete clause that restricted her from returning to the perfume and beauty sector for a period of five years.

Once that period had passed, Malone decided to return to her passion for the world of scents by founding her new fragrance house, Jo Loves, in 2011. With this new label, she quickly regained popularity, as was natural given the name she had built in the industry. She began to compete directly with her former fragrance brand. Her new olfactory creations are sold for between 120 and 150 pounds for 100 ml bottles, compared to the 150 to 200 euros price range for Jo Malone London's offerings. This price difference is minor. It becomes even more favourable for Jo Loves when considering that its creations are sold as perfumes, while Jo Malone London's are sold as cologne and intense cologne. This implies a lower proportion of the essences that provide longevity to the fragrances.

The Inditex Group (Inditex) played a decisive role in this particular and then-incipient war in the perfume world. In 2019, it established a long-term collaboration agreement between Zara, its main fashion chain, and the British perfumer's new fragrance house, Jo Loves. The collaboration focuses on the development and commercialisation of various scented products, including scented candles, room diffusers and, of course, fragrances and perfumes. All these products feature original scents. The fragrances, with collections for both men and women, are sold at prices ranging from 29.95 to 35.95 euros.

With these, Zara and Inditex have not only enriched their beauty universe but also helped to give visibility to Malone's new business venture, separate from the Jo Malone London house, which, as a brand, remains in the hands of Estée Lauder. Inditex has tried to safeguard this action by consistently presenting it as a collaborative initiative between Zara, Malone and her brand Jo Loves. Each product, both physically and online, is labelled as “created by Jo Malone CBE, founder of Jo Loves”.

Inditex rejects allegations

Despite this clarification, The Estée Lauder Companies maintains that the long-term collaboration has infringed upon the rights of the Jo Malone London brand, which the US beauty multinational acquired in 1999. For this reason, as was revealed in early March, the company decided to file a lawsuit in the UK against Malone for breach of contract, registered trademark infringement, passing off and consumer deception. The lawsuit was extended to include Jo Loves, her new commercial brand, and the British subsidiary of Inditex. Both parties have now responded, denying the alleged illicit behaviour attributed to them by the US company.

The Spanish company has modified the note on some items from the Jo Loves collaboration, which is the main argument in The Estée Lauder Companies' lawsuit. The text has been changed from “created by Jo Malone CBE, founder of Jo Loves” to “in collaboration with the perfumer Ms. Jo Malone CBE, founder of Jo Loves”. In its defence filed with the UK High Court and reported by Reuters, Inditex alleges that it has never infringed upon the rights of Estée Lauder or its Jo Malone London brand. This was an expected argument. Inditex also maintains that the company has always adhered to the exact terms recommended by the US group for mentioning the perfumer in their collaboration. On this matter, the Spanish company states that in August 2020, they received a complaint from Estée Lauder regarding the use of Jo Malone's name in a post on Zara's official account on the Chinese social network Weibo.

The Spanish company's defence states that Estée Lauder's own legal team later acknowledged that this claim was within legally permissible limits. They recommended that Zara should in any case be careful to specify that its collaboration was not with the Jo Malone London brand, but with the perfumer Jo Malone. She could be identified under the terms “Jo Malone CBE”, “Ms Jo Malone”, “Ms Malone” or “Jo”, but never as the founder of the Jo Malone brand. Inditex maintains that these terms have been complied with at all times, both in the marketing of the collaboration's products in brick and mortar stores and online. They therefore deny the accusations of brand rights infringement and unfair competition. As an additional note, they also reject the "cheap" label that Estée Lauder used to describe their perfumes in its lawsuit.

Perfumer Jo Malone hits back at The Estée Lauder

Meanwhile, the British perfumer responded a month ago via her Instagram account, where she regularly promotes the olfactory creations she develops for Zara, regarding the lawsuit filed against her and Inditex by Estée Lauder. She rejected the legal implications of the complaint at the time, stressing that both parties had done everything possible to ensure it was understood that the collaboration had nothing to do with the Jo Malone London company. She continues to maintain this defence. Now, as she has pointed out through the same channel, she also accuses Estée Lauder of trying to prevent her from using her own name, thereby violating the terms of the 1999 sale of Jo Malone London.

“Estée Lauder cannot stop me from being Jo Malone, the renowned perfumer and personality with my own prestige and reputation,” Malone stated in a statement released on her social media channels. “While I sold the company called Jo Malone London Limited and the Jo Malone trademark to Estée Lauder 27 years ago, I obviously did not sell my name.” In this regard, she details, “the contract with Estée Lauder allows me to use my own name in a personal capacity, which I have been doing for Jo Loves for 15 years.”

Following the same dynamic, “the collaboration with Zara has been ongoing for seven years” under the same terms, “and its packaging does nothing more than identify me, Jo Malone CBE and founder of Jo Loves, as the perfumer.” With this lawsuit, the British perfumer adds, “Estée Lauder is trying to prevent me from identifying myself as Jo Malone even in circumstances where I am clearly doing so in a personal capacity,” and “for that reason, I am defending myself in the High Court.”

UK-based footwear retailer Shoe Zone has announced its interim results for the 26 weeks ended March 28, 2026, revealing a decline in revenue and a widened loss as macroeconomic volatility continues to impact consumer spending.

The retailer reported total revenue of 62.93 million pounds (85.53 million dollars) for the first half, representing a 12 percent decrease from the 71.49 million pounds achieved during the same period in 2025. This decline was largely driven by a reduction in the store estate, with the company trading out of 19 fewer locations compared to 12 months ago.

Performance across retail channels

Store revenue fell by 14.1 percent to 45.80 million pounds. By the end of the period, Shoe Zone operated 259 stores, down from 269 at the 2025 fiscal year end. The portfolio now comprises 206 new format stores and 53 original format stores.

Digital revenue also saw a contraction, decreasing 6 percent to 17.08 million pounds compared to 18.20 million pounds in the first half of 2025. The company noted that digital trading conditions mirrored those seen on the high street, though it continues to invest in infrastructure, including a new mobile app and a presence on TikTok Shop.

The adjusted loss before tax widened to 5.31 million pounds from a loss of 2.60 million pounds in H1 25.

Shoe Zone chairman, Charles Smith, attributed the performance to a “very challenging trading environment” characterized by weak consumer confidence and global economic volatility.

Operational adjustments and outlook

Gross profit margin decreased to 11.8 percent from 15.4 percent in the prior year. Shoe Zone finance director, Terry Boot, highlighted that the company is right-sizing its operations, including plans to exit three of the six leases at its distribution centre.

Looking ahead, the board has revised its full-year expectations. Following an update on April 22, 2026, the company now forecasts an adjusted loss before tax of between one million pounds and two million pounds for the full year. Smith noted that footfall remains low following recent budget announcements and ongoing geopolitical tensions in the Middle East.

British retailer Marks & Spencer (M&S) has announced a conditional agreement to acquire a 437,000 square foot fully automated fashion distribution centre located in Lichfield. The facility, previously operated by British online fashion retailer Asos, is scheduled to become operational within the M&S network in 2027.

The acquisition is expected to create 600 jobs and serves as a primary driver for the strategic acceleration of the retailer’s fashion, home, and beauty divisions. By increasing logistical capacity, the hub will facilitate faster order processing to support the long-term objective of doubling the size of the company’s online fashion business.

Strategic investment in supply chain transformation

M&S managing director for fashion, home and beauty, John Lyttle, stated that the acquisition is a critical component of the digital growth strategy. “As we transform M&S fashion, home and beauty, our ambition is to double online sales,” Lyttle said.

Lyttle noted that the 24/7 distribution network requires additional capacity to serve customers more efficiently. The managing director emphasised that the acquisition represents a disciplined use of capital, providing necessary infrastructure at a significantly lower cost than a new build project.

Supply chain transformation remains a strategic priority for M&S as it seeks to shorten lead times from suppliers to distribution centres and ultimately to the end consumer. The retailer views the optimisation of these processes as a key lever for driving online growth and improving long-term profit margins.

Currently, M&S operates a diverse portfolio including food and stylish fashion, home, and beauty products. These are distributed through its UK brick and mortar stores, international franchise partners, and its e-commerce platform.

UK fashion sales returned to growth in the latest week, with total like-for-like (LFL) sales rising +3.07% over a period that included the early May bank holiday, according to the latest BDO High Street Sales Tracker. The result comes off a positive base of +2.80% for the same week last year.

Online demand drove the entire fashion uplift. Non-store fashion sales jumped +11.25%, marking a fourth consecutive week of growth in the channel, against a negative comparison base of -5.71% a year earlier. Store fashion sales fell -1.09%, pulling back from a strong +8.04% base last year.

The pattern mirrors a wider channel divergence across the high street. Total LFL sales rose +3.14% against a soft +0.25% base, with total non-store LFL up +8.45% — also a fourth consecutive weekly increase — while total store LFL grew a more modest +1.36% from a positive +2.83% base. The week marked the second consecutive period of positive sales across stores, non-store and all three retail categories of lifestyle, fashion, and homewares.

Springboard footfall data points to a continued reluctance to visit traditional shopping streets. Overall footfall slipped -0.8%, with high street footfall down -2.0% and shopping centre traffic flat. Retail parks were the only physical format to grow, with footfall up +1.1%.

Weather conditions shifted from mixed late-April patterns into a warm early-May heat spike before turning cooler and wetter over the bank holiday weekend. The brief warm spell may have supported online demand for spring/summer collections while keeping high street traffic subdued. The persistent outperformance of non-store fashion suggests the channel shift is structural rather than weather-driven.

Administrators for Quiz have confirmed that the retailer’s stores will remain open through the month of May as efforts to wind down stock continue.

Interpath, which was appointed to oversee Quiz’s proceedings earlier this year, is continuing to review the trading situation as well as the supply of new stock from distribution centres to stores.

Quiz’s future has remained in limbo since the company fell into administration on February 5, at which time 109 redundancies among the head office and distribution centre were confirmed.

The company had cited several headwinds that made for challenging trade conditions, despite stronger than anticipated sales towards the end of last year.

Its 40 stores and seven concessions–the latter of which are not part of the administration process–across the UK and Ireland have remained operational, while its website shuttered upon Interpath’s appointment.

Just a week after the filing, Interpath confirmed the commencement of additional clearance discounts across all remaining stock, and continued to urgently call on parties that may be interested in acquiring Quiz’s stores, store operations, and infrastructure.

After successful editions covering the EU and Americas, non-profit Global Fashion Agenda (GFA) has released its GFA Policy Matrix: Asia. The resource is designed to map sustainability and social matters related legislation in the fashion industry across the region and focuses on eight major manufacturing countries: Bangladesh, Cambodia, China, India, Indonesia, Pakistan, Turkey and Vietnam.

In view of policy and legislation information that can be dispersed, the new GFA PolicyMatrix: Asia aims to provide an accessible overview of policy developments in the area, with plans to expand its scope in the future to more countries.

“The launch of the GFA Policy Matrix Asia marks an important step in strengthening our strategic work across the region. As we continue implementing the Circular Fashion Partnerships on the ground, we gain critical insights into what enables circular systems to succeed. This resource complements that experience by mapping textile-related sustainability policies in key manufacturing regions of Asia, where legislation is evolving rapidly,” commented GFA CEO Federica Marchionni in a statement.

Structure of the GFA Policy Matrix Asia

The Policy Matrix is structured around the five key priorities outlined in the Fashion CEO Agenda: respectful and secure work environments, better wage systems, resource stewardship, smart material choices and circular systems. Under each priority, it is based on the status of the policy initiatives, with those enacted and in force mentioned first, followed by ongoing initiatives, those undergoing revisions, non-policy and upcoming initiatives.

Each entry for a specific policy effort is supported by a summary of its main objectives and main provisions. It also lists key policymakers and stakeholders (if available) to highlight the actors involved in its development as well as insights into the key players shaping the regulatory landscape. A clearly visible status box provides information on completion, updates and amendments at a glance.

A section with additional information lists relevant resources such as links to handbooks and other useful information, including stakeholder positions, media coverage and reports.

What do the five key priorities cover?

Respectful and secure work environments

Knowing where to look when handling a particular issue is half the work done. Thus, an overview of the main themes for each priority is helpful; some may overlap. The section on respectful and secure work environments, for example, touches on themes like due diligence, occupational hazards, working conditions, worker health and safety, sick pay, hazardous chemicals, discrimination, human rights violations, forced labour and slavery, human trafficking, grievance mechanisms, female workforces, gender equality, gender-based violence, financial inclusion, financial empowerment, job retention, job security, social protection, Covid-19 implications on workers, supply chain visibility, transparency and purchasing practices.

In this area, the matrix highlights a transition toward modernised labour codes and mandatory due diligence. Notable updates include India’s New Labour Code (2025), which consolidates 29 fragmented laws to improve worker protections, and Indonesia’s upcoming Mandatory Human Rights Due Diligence bill.

Better wage systems

The section on better wage systems includes themes like due diligence, fair wage systems, payment systems, minimum wage, living wage, transparent wage data, purchasing practices, wage setting, collective bargaining, unions, wage theft, grievance mechanisms, wage protection schemes, labour protection, social protection schemes, enforceable brand agreements, informal economy, sub-contractors, slavery and human trafficking.

Wage protections are being reinforced through statutory frameworks like Cambodia's 2018 Law on Minimum Wage, which set new rates for the garment sector effective January 2025, and India’s Code on Wages (2019).

Resource stewardship

The resource stewardship section covers themes like water, water availability, water stress, water scarcity, energy, fossil fuel consumption, carbon taxation, energy transition, renewable energy, science-based targets, chemical use, chemical pollution, hazardous chemicals – textile leather processing/ dying processes, biodiversity, natural resource use, virgin material extraction, land restoration, sustainable land management, regenerative agriculture, deforestation, land use, transparency, recapturing waste streams and traceability tools.

The section focuses on decoupling value creation from environmental degradation through stricter pollution controls and climate commitments. The report documents significant legislative actions such as Indonesia’s Regulation No. 12 (2025) on wastewater standards and Turkey’s first comprehensive Climate Law (2025), which establishes a national Emissions Trading System. Furthermore, several countries, including Bangladesh, Pakistan, and China, have submitted updated Nationally Determined Contributions (NDC 3.0) for 2025 to accelerate economy-wide decarbonisation.

Smart material choices

Smart material choices is also an important priority, covering themes like fibre growing and harvesting, mono-cropping, regenerative agriculture, natural fibres, biodegradable, organic productions, land use, soil health, chemical use, synthetic fibres, fossil fuel-based fibres, microfibres, microplastics, recycled materials, biomaterials, animal welfare and fur trade.

Thus, this priority emphasises responsible sourcing and consumer safety through technical standards and labelling. Recent developments include Turkey’s 2025 Labeling Requirements for animal-origin components and India’s upcoming mandatory labelling rules for apparel, which will require full fibre composition disclosure. These initiatives aim to prevent misleading claims and align regional production with global sustainability and transparency standards, such as digital product passports.

Circular systems

Last but not least, the section on circular systems touches on textile recycling, textile reuse, linear system, product lifecycle, durability, recyclability, mono materiality, circular systems, circular business models, product disassembly, post-consumer textiles, material streams, upcycling, overstock, deadstock, textile sorting, extended producer responsibility (epr), movement of waste, scaling technologies.

Regarding this section, the report tracks the shift from linear to closed-loop models where waste is eliminated and materials are continuously circulated. Key policy efforts include China’s Implementation Opinions on Accelerating the Recycling of Waste Textiles (2022) and Vietnam’s National Action Plan for Circular Economy (2025). These frameworks prioritise the integration of informal waste sectors into the formal economy and promote the “4Rs” (reduce, reuse, recycle, recover) to manage industrial textile scraps.

Finally, the matrix identifies several upcoming initiatives set to shape the industry through 2027 and beyond. These include India’s Tex-Eco Initiative and National Fibre Scheme (2026-2031), which focus on green markets and raw material self-reliance, as well as Cambodia’s first dedicated Occupational Safety and Health Law. By consolidating these disparate policy developments, the GFA provides a roadmap for stakeholders to navigate the rapid regulatory shifts occurring within Asia's influential textile and garment production hubs.

Conclusion

In view of a rise of textile-specific strategies in the region and targeted sustainability regulations as well as circular economy initiatives, the GFA Policy Matrix Asia is a useful tool that should help industry stakeholders navigate a rapidly evolving policy landscape, especially considering increasing recognition of textiles as a strategic sector for social and environmental transitions.

Net sales for Safilo reached 272.9 million euros (320.5 million dollars) in the first quarter of 2026, an increase of 0.4 percent at constant exchange rates.

“The first quarter of 2026 confirmed the continuity and strength of our operational and financial performance. Our resilient business model is supported by a solid brand portfolio and effective commercial action. This has continued to drive positive sales trends in North America and major European markets,” commented Angelo Trocchia, chief executive officer of Safilo, in a statement.

European Q1 sales reach 130 million euros, up 1.4 percent

As previously mentioned, in the first three months, Safilo recorded net sales of 272.9 million euros, an increase of 0.4 percent at constant exchange rates. At current exchange rates, sales saw a decline of 4.5 percent, primarily due to the depreciation of the US dollar against the euro during the period.

First-quarter sales showed a trend broadly in line with the performance recorded in the fourth quarter of 2025. This confirms a significant continuity of business dynamics by geographical area. The performance was driven by the continued recovery in North America and the resilience of major European markets. Sales in Asia-Pacific and the Middle East, however, continued to be the main factors slowing overall growth.

In Europe, sales in the first quarter of 2026 reached 129.9 million euros, up 1.4 percent at constant exchange rates and 0.8 percent at current exchange rates. "The performance continued to benefit from positive demand in the group's main markets, with France, Italy, and Germany recording solid trends in both the independent opticians' channel and with key accounts," the management specified in the note.

The start of the year also saw "the encouraging launch of the new Victoria Beckham eyewear collection, which largely offset the impact of the deconsolidation of the lens business," the note continued.

In North America, sales in the first quarter of 2026 amounted to 109.7 million euros, an increase of 2.3 percent at constant exchange rates. At current exchange rates, revenues recorded a decline of 7.7 percent, due to the average depreciation of the dollar against the euro of approximately 11 percent.

In Asia-Pacific, sales in the first quarter of 2026 stood at 11.8 million euros, down 13.6 percent at constant exchange rates and 18.0 percent at current exchange rates. The performance was affected by a particularly challenging comparison base with the first quarter of the previous year. It was also impacted by the continuation of more cautious demand, as already observed in the fourth quarter of 2025. In China, the sales trend was influenced by the timing of the Chinese New Year. January was positive before the holidays, followed by a weak February and a partial recovery in March.

In the rest of the world, sales in the first quarter of 2026 stood at 21.5 million euros, down 6.3 percent at constant exchange rates and 9.1 percent at current exchange rates, in a complex market context. The performance was mainly penalised by weak trends in the Middle East. This followed the rapid escalation of geopolitical tensions in the area, which affected business activity from March onwards.

The US luxury resale platform The RealReal has reported a strong financial performance for the first quarter ended March 31, 2026. The company experienced double-digit growth across its primary metrics, driven by an expanding active buyer base and increased demand for authenticated second-hand fashion.

Gross merchandise value (GMV) for the first quarter reached 606 million dollars, representing an increase of 24 percent compared to the same period in 2025. Total revenue rose by 19 percent to 190 million dollars, supported by an 18 percent growth in consignment revenue and a 26 percent increase in direct revenue year-over-year.

Profitability and operational efficiency

The US-based marketplace saw its adjusted EBITDA improve by 9 million dollars compared to the first quarter of 2025, reaching 13.10 million dollars. This figure represents 6.90 percent of total revenue, a significant margin expansion from the 2.60 percent recorded in the prior year period.

Gross profit for the period was 141 million dollars, an increase of 21 million dollars over the previous year. However, gross margin saw a slight contraction of 50 percentage points to 74.50 percent. Net income for the quarter stood at 39 million dollars, compared to 62 million dollars in the same period in 2025.

The RealReal president and chief executive officer, Rati Levesque, noted that the results were a product of disciplined execution across three strategic pillars: unlocking supply, service obsession, and operational excellence. “The strength of our platform — our customer relationships, our data, our brand, and our scale — was on display in the first quarter,” Levesque stated.

Shifting buyer demographics and outlook for 2026

The platform reported that its trailing 12 months active buyer count rose 10 percent compared to the first quarter of 2025. Average order value (AOV) also saw a notable rise, climbing 15 percent to 646 dollars. Non-GAAP basic and diluted net loss attributable to common shareholders was 0.01 dollars per share, an improvement from the 0.08 dollars loss reported in the prior year.

Following the performance in the first quarter, the company has increased its full year guidance based on market conditions as of May 7, 2026. For the second quarter (Q2) of 2026, the company expects GMV to fall between 590 million dollars and 600 million dollars, with total revenue projected between 186 million dollars and 189 million dollars.

For the full year 2026, the group now forecasts GMV in the range of 2.42 billion dollars to 2.47 billion dollars. Total revenue for the year is anticipated to reach between 770 million dollars and 784 million dollars, while adjusted EBITDA is expected to land between 59 million dollars and 67 million dollars.

Canadian fashion house Aritzia has reported that its real estate expansion strategy served as a primary catalyst for its record-breaking financial performance in the fourth quarter and full fiscal year ended March 1, 2026. The company reached net revenue of 1.19 billion Canadian dollars (0.87 billion dollars) in the final quarter, up 36.2 percent, driven by a significant increase in retail square footage and high-performing new boutiques.

The group reported that comparable sales grew 27.7 percent, bolstered by a 37.8 percent revenue surge in the US, which now accounts for 63.7 percent of total net revenue. In Canada, net revenue increased 24.3 percent to 431.2 million Canadian dollars. Over the past 12 months, the Vancouver-based company grew its retail square footage in the mid-teens, opening 14 new boutiques and repositioning four existing locations. In the fourth quarter (Q4) alone, Aritzia launched five new boutiques in the US and completed one repositioning in Quebec.

Real estate yields rapid returns

The company’s investment in brick and mortar locations has demonstrated efficiency in capital recovery. In fiscal 2026, new boutiques opened in the US were tracking to achieve a payback period of less than one year. This performance surpasses the internal target of 12 to 18 months previously set by the group. During the fourth quarter, retail net revenue rose 35 percent to 698.2 million Canadian dollars, while digital net revenue increased 29.2 percent to 488.3 million Canadian dollars.

For the full year 2026, net revenue increased 35.2 percent to 3.70 billion Canadian dollars. Net income reached 381.8 million Canadian dollars, an 83.8 percent increase and adjusted EBITDA rose 59 percent to 646.2 million Canadian dollars.

“Our real estate strategy continues to yield exceptional results,” stated Jennifer Wong, chief executive officer. “Our boutiques enhance brand recognition, drive new client acquisition, and support digital growth, particularly in new markets.”

The synergy between physical and digital channels remains evident. Digital net revenue increased 29 percent during the quarter, following a 48 percent growth rate in the same period last year. Management maintains that physical boutiques act as a driver for the company’s digital presence, reinforcing its omnichannel approach.

Focus on United States market

Looking ahead to fiscal 2027, Aritzia has confirmed a robust pipeline of 12 to 13 new boutiques and four to five repositions. The expansion remains heavily weighted toward the US, with only one new boutique planned for Canada, located in Vancouver.

The company will enter four new markets this year, including Birmingham, Fort Worth, New Orleans and St. Louis. Additional openings are scheduled across the US in locations such as Atlanta, Dallas, Cleveland, Las Vegas, Carlsbad, and various sites in Florida and Texas.

Strategic growth levers and outlook

Aritzia has achieved its Fiscal 2027 revenue target of 3.5 to 3.8 billion Canadian dollars one year early, finishing fiscal 2026 with 3.70 billion dollars in net revenue. Wong identified geographic expansion as the most consistent and predictable driver of this growth. Aritzia expects continued momentum into the first quarter of fiscal 2027, following a positive response to its spring/summer 2026 (SS26) assortment. For the upcoming fiscal year, the company projects net revenue between 4.4 billion Canadian dollars and 4.6 billion Canadian dollars, representing anticipated growth of 19 percent to 24 percent.

The company continues to advance its three strategic growth levers: geographic expansion, digital growth and increased brand awareness. To support this trajectory, Aritzia is investing in infrastructure, including the construction of a new distribution centre in British Columbia.

“Our proven real estate expansion strategy continues to be our most consistent, predictable driver of growth,” Wong concluded. The company plans to unveil its next long term strategic roadmap in the autumn.

Brazilian footwear giant Alpargatas recorded its highest nominal quarterly EBITDA in history during the first quarter of 2026, supported by strong volume growth in its flagship Havaianas brand. The company achieved an adjusted EBITDA of 299.50 million reais (60.55 million dollars), representing an expansion of 5.50 percentage points compared to the same period in 2025.

In the quarter, Havaianas net revenue totaled 1.2 billion reais, representing an increase of 12.5 percent, driven by growth across all operations. Havaianas Brazil, net revenue for the quarter reached 909.1 million reais, with growth of 13.2 percent, while international net revenue for the quarter reached 307.5 million reais, up 10.2 percent.

Havaianas Brazil expands market share

In its domestic market, Havaianas Brazil sold 54.90 million pairs, an increase of 7.60 percent compared to the first quarter of 2025. Net revenue for the Brazilian operation rose 13.20 percent to reach 909.10 million reais.

Gross margins in Brazil reached a record 49.50 percent for a first quarter, benefiting from manufacturing productivity and a more favourable product mix.

The Havaianas international operation showed signs of scale recovery, with sales volumes increasing by 14.80 percent to 6.60 million pairs. Performance was particularly strong in Europe, where volumes grew by 18 percent to 3.50 million pairs, marking the sixth consecutive quarter of positive trends for the region.

In the US, the company is transitioning to a new business model involving distributor intermediation. While this change resulted in a 3 percentage point decline in international gross margin to 61.80 percent, it significantly reduced operating expenses. US volumes rose 161.40 percent to 1.20 million pairs as the new partner built up inventory for the upcoming season.

Distributor markets in Asia Pacific, the Middle East, and Africa saw a 17.40 percent decline in volume, primarily due to geopolitical conflicts impacting sales in Israel. Despite these challenges, international EBITDA grew 88.60 percent to 62.20 million reais.

Rothy’s faces margin pressure from import tariffs

The US-based sustainable footwear brand Rothy’s, in which Alpargatas holds a 48.80 percent stake, reported a 7.80 percent increase in net sales to 46.80 million dollars. Growth was supported by the expansion of its retail network to 36 stores and higher penetration in business-to-business (B2B) channels.

However, Rothy’s recorded an EBITDA loss of 2.20 million dollars for the quarter. Profitability was hindered by a 5.40 percentage point decline in gross margin, largely due to the 4.80 percentage point impact of US import tariffs on products brought from China during 2025. Adverse weather conditions also forced temporary store closures, which limited the brand’s ability to dilute fixed costs.

Looking ahead, management intends to focus on sustainable expansion in Brazil and the gradual recovery of international volumes as the new US business model matures.

LVMH has generated 500 million euros in revenue from recycling and repairs. This represents ten million products repaired, refilled, or taken back in 2025 across all of the group's houses. It is the first quantified assessment of the gains achieved under its Corporate Social Responsibility (CSR) policy and Life 360 programme.

These figures were unveiled during a conference at the Cheval Blanc hotel, attended by Hélène Valade, environment development director at LVMH, and Christelle Capdupuy, sustainable development director at Louis Vuitton.

The 500 million euros from repairs and refills remain modest on a group-wide scale, accounting for 0.6 percent of turnover. However, the figure is symbolically significant. It materialises the transition to a circular model in monetary terms and aims to demonstrate that creative circularity and profitability are not mutually exclusive.

Additional revenue generated by repair, refill, and product take-back services

LVMH now precisely quantifies what it gains from repairing items rather than selling new ones. In 2025, repair, refill, and take-back services alone generated 500 million euros in additional revenue from ten million repaired products.

Specifically, the ten million products involved were either repaired in workshops, equipped with a refill system, or taken back by the houses. At Louis Vuitton, client advisors are trained to discuss repairs, and information on the origin of raw materials is available on the website or in-store.

Among the drivers of this profitable circularity, refills hold a unique position. The example of a cream with a patented design, shown during the conference, illustrates the strategy: the refillable object can become as aesthetically pleasing as a new product, if not more so.

“‘New’ does not mean ‘brand new’,” summarises Hélène Valade, environment development director at LVMH. “It could be a magnificent bag that has been completely reworked to give it a new look. I think there is a real need among some consumers for this new service.”

Finance's role in creative circularity: a gradual business model shift

Valade explains that finance has become a major ally. LVMH's 75 chief financial officers now work with sustainable development managers. At Céline, the cost of carbon is integrated into investment decisions, while at Dior, the transition plan is subject to financial planning. This convergence allows for the reporting of environmental data covering 99.9 percent of the group's financial scope.

LVMH is also learning to quantify the cost of inaction. Consuming less water and using less energy immediately results in savings. Furthermore, the group reports that 41 percent of the materials used in its products and packaging are now sourced from recycling.

Items made from deadstock or recycled materials do not sell for less, but sometimes sell faster. A cotton bag made from 3,000 linear metres of unused stock sold out as a limited edition, becoming 'highly desirable' due to its rarity. Similarly, the fashion show that recycled unsold items, realised by Kevin Germanier, proved that circularity could be a source of profitable creativity.

Creative circularity: a tool for loyalty and securing brand value

One benefit that LVMH has not yet converted into euros remains: consolidating trust in its brands. “This is the bet I have been making for 20 years,” states Valade. “Behind all of this, there are very strong societal shifts. If a company does not embrace them, it is not able to embody this responsibility at the product level.”

“Circularity thus becomes an ingredient for loyalty. A customer who has trust will return for another purchase. Repair is therefore not a cost centre, but a driver of brand preference,” concludes Christelle Capdupuy, sustainable development director at Louis Vuitton.

In today’s fashion landscape, responsibility and performance are no longer opposing forces — they are inseparable. As brands face increasing pressure to align sustainability goals with speed, pricing accuracy and commercial success, data has become a strategic asset. This is where Lectra, a global leader in industrial intelligence solutions, empowers fashion brands to make responsibility measurable and actionable. As an industrial technology solution provider, Lectra’s unique offering spans the five core areas of the fashion value chain—Create, Manufacture, Market, Collaborate, and Traceability—brought together through fully integrated solutions.

A compelling example is ArmedAngels, the Cologne-based sustainable fashion brand known for its strong ethical commitments. To support responsible growth while maintaining competitiveness, ArmedAngels chose Lectra’s Retviews solution. Within the Market domain, Retviews is an AI-powered fashion market intelligence solution designed to transform market complexity into clear, shared insights.  Discover how ArmedAngels uses Retviews.

From responsibility to confident, data-driven decisions

ArmedAngels’ ambition was clear: align pricing, assortment and collection strategies with its values—without slowing down teams or relying on fragmented data. Before Retviews, teams spent a significant amount of time manually collecting and consolidating information, limiting their ability to react quickly and collaborate efficiently across the organization.

With Retviews, Lectra provided a single, transparent source of market intelligence, enabling ArmedAngels to access real-time, holistic insights into competitors, pricing structures, assortment depth and market positioning. This shift fundamentally changed how decisions were made: pricing and assortment strategies are now grounded in shared data, visible and understandable to all teams.

“It’s not just about numbers. It’s about confidence. Everyone can see the reasoning behind each decision,” explains a senior leader at ArmedAngels.

Smarter decisions, faster execution

By automating data collection and competitive benchmarking, Retviews has significantly reduced manual workload, freeing teams to focus on strategic analysis rather than operational tasks. Designers, merchandising and product teams can now work from the same factual base, accelerating alignment and improving decision quality across the brand.

This data-driven approach strengthens ArmedAngels’ ability to plan balanced collections, optimize pricing strategies and anticipate market shifts—all while enabling decisions that align with its sustainability commitments. The result is faster insight, improved internal confidence and a more agile organization capable of scaling responsibly.

“We spend less time doing the manual work and more time applying intelligence to create new ideas and opportunities,” adds the same senior leader, highlighting the operational impact of the collaboration.

A collaboration built on trust

Beyond technology, the collaboration highlights Lectra’s longterm commitment to supporting customer performance and growth. ArmedAngels emphasizes the smooth rollout, dedicated support and human expertise behind Retviews—key factors in ensuring adoption and lasting value across teams.

Today, Retviews is seen not simply as a tool, but as an extension of ArmedAngels’ teams—supporting confident decision-making, cross-functional collaboration and responsible growth.

For fashion brands navigating uncertainty, rising sustainability demands and competitive pressure, the ArmedAngels success story demonstrates how Lectra transforms data into a powerful driver of performance, transparency and trust.

US luxury group Tapestry, the parent company of Coach and Kate Spade New York, reported a significant increase in revenue and earnings for the fiscal third quarter ended March 28, 2026. The group achieved double-digit growth across its core brands, bolstered by a 21 percent increase in net sales to 1.92 billion dollars.

The performance has led the group to revise its annual guidance upwards, now expecting revenue in the area of 7.95 billion dollars. This trajectory reflects the impact of the Amplify strategy, which focuses on digital acceleration and consumer engagement.

Global demand fuels leathergoods performance

The fiscal third quarter saw Tapestry acquire over 2.4 million new customers globally. Notably, Gen Z consumers represented over 35 percent of this new cohort. This demographic shift was accompanied by a robust performance in the leathergoods category, particularly at Coach. Handbag units for the brand rose more than 20 percent, while average unit retail (AUR) increased at a low-double-digit rate.

Geographic expansion remained a key driver of the quarter’s results. On a pro forma constant currency basis, North America saw gains of 20 percent, while Europe increased by 21 percent. The Asia-Pacific (APAC) region recorded a 30 percent rise, with Greater China specifically growing by 55 percent.

Direct-to-consumer and digital acceleration

Total direct-to-consumer (D2C) revenue increased by 23 percent on a pro forma constant currency basis. This growth was spearheaded by a 25 percent rise in digital sales and a 20 percent increase in global brick and mortar sales.

Tapestry chief executive officer, Joanne Crevoiserat, attributed the results to disciplined execution. “Our third quarter outperformance reflects the compounding benefits of our Amplify strategy, as we bring creativity, craftsmanship, and value to more consumers around the world,” Crevoiserat stated.

Financial results and margin expansion

Gross profit reached 1.48 billion dollars with a gross margin of 76.9 percent, an 80 basis point increase compared to the previous year. Operating income on a non-GAAP basis was 430 million dollars, resulting in an operating margin of 22.4 percent. This represents a significant expansion from the 17.5 percent margin reported in the prior year.

Net income for the period was 344 million dollars, with earnings per diluted share (EPS) of 1.65 dollars on a GAAP basis. On a year-over-year (YoY) basis, this is a substantial increase from the 203 million dollars in net income recorded in the same period last year.

Shareholder returns and updated guidance

Based on current momentum, Tapestry expects to return 1.6 billion dollars to shareholders in fiscal 2026 through dividends and share repurchases. The board of directors declared a quarterly cash dividend of 0.40 dollars per common share, payable on June 22, 2026. The group also expects to buy back approximately 1.3 billion dollars in common stock over the fiscal year.

For the full fiscal year 2026, Tapestry anticipates an operating margin of approximately 23 percent, which is an expansion of roughly 300 basis points YoY. The group projects EPS to be in the area of 6.95 dollars, representing growth of over 35 percent compared to the previous fiscal year.

US apparel group Kontoor Brands Inc. has started the new 2026 financial year with surprisingly strong results. Alongside the latest figures, the group also announced on Thursday its plan to separate from the Lee brand.

Several parties have already expressed interest in the denim label as part of the sales process already initiated, according to a statement. A binding agreement for the sale of the brand is expected to be concluded within the current year.

CEO and chairman Scott Baxter explained the reasons for the decision. “Our decision to divest Lee allows us to focus more sharply on opportunities with the greatest potential to maximise shareholder returns by aligning Kontoor's brand portfolio towards a higher growth profile,” he explained in a statement.

Wrangler and Helly Hansen brands exceed expectations

In light of these plans, Lee has already been classified as a discontinued operation in the current quarterly report. Revenue from continuing operations amounted to 613.3 million US dollars for the period from January to March. This represented an increase of 45 percent compared to the same period last year. Adjusted for currency fluctuations, revenue grew by 39 percent.

Outdoor specialist Helly Hansen, acquired last year, was a significant contributor to the strong growth, contributing 165.5 million US dollars to group revenue. Revenue for the core brand Wrangler grew by four percent (plus 2 percent on a currency-neutral basis) to 435.8 million US dollars.

Group more than doubles its quarterly profit

The group also made significant progress in its earnings. Adjusted operating profit from continuing operations increased by 60 percent compared to the same period last year, reaching 86.8 million US dollars. Net profit from continuing operations jumped from 10.2 million to 61.0 million US dollars.

The reported net profit, which includes earnings contributions from Lee, amounted to 92.4 million US dollars. This was more than double the figure from the prior-year quarter, when it stood at 42.9 million US dollars.

Management updates its annual forecast

In light of the plans to sell Lee and the unexpectedly strong performance of the remaining brands, management has updated its annual forecast. It now expects revenue from continuing operations to be between 2.66 and 2.70 billion US dollars. Adjusted earnings per share from continuing operations is projected to reach 5.15 to 5.25 US dollars.

The group also announced a new share buyback programme. This programme authorises the purchase of its own shares up to a total value of 750 million US dollars.

Digital showrooms were meant to modernise wholesale.

Yet many fashion brands experience:

• Disconnected systems
• Manual data reconciliation
• Incomplete pricing logic
• Excel-like interfaces
• High infrastructure costs
• Lack of real sales control

The showroom looks digital.
Wholesale remains fragmented.

Why?
Because most digital showroom solutions modernise presentation — not structure and execution.

And structure is where real value is created.

Disconnected worlds: Preorder, B2B and reorder

In many organisations, the following systems operate separately:

• Preorder system
• B2B portal
• ERP
• Reorder management

This leads to:

• Inconsistent data states
• Fragmented customer history
• Manual coordination
• Double data entry
• Lack of process continuity

Preorder runs in one tool.
B2B replenishment runs in another.
Reorder insights sit inside ERP.

This is not integrated wholesale control — it is system fragmentation.

A modern wholesale platform must unify preorder, reorder and B2B within one coherent architecture.

Unreliable data synchronisation – especially in sales apps

Many digital showroom vendors also provide a sales app.
In practice, brands often face:

• Delayed synchronisation
• Outdated pricing
• Missing customer-specific conditions
• Inconsistent SKU data
• Offline errors

Sales teams lose trust in the system.
And return to Excel.

Professional wholesale software must:

• Ensure real-time synchronisation
• Accurately reflect pricing and customer conditions
• Provide stable offline functionality
• Eliminate manual post-meeting corrections

Without this, digital transformation remains cosmetic.

Complex pricing and customer logic is not fully reflected

Wholesale is structurally complex.
There are:

• Individual customer price lists
• Volume-based discounts
• Currency variations
• Key account agreements
• Seasonal conditions
• Market-specific exceptions

Many digital showrooms simplify or partially ignore this complexity.

The result:

• Incorrect prices during meetings
• Manual recalculations
• Error-prone orders
• Reduced buyer confidence

The best wholesale software reflects real-world pricing logic completely and ERP-consistently.
Anything less creates friction.

Interfaces that feel like spreadsheets

Another underestimated issue is usability.
Many wholesale systems resemble spreadsheets:

• Overloaded masks
• Technical interfaces
• Unintuitive navigation
• No clear user experience

This feels:

• Outdated
• Uninspiring
• Not aligned with premium brands

Wholesale software should not feel like Excel.
Especially in fashion, brand perception matters.

Modern wholesale systems must combine structural depth with premium user experience.

High infrastructure and maintenance costs

Many traditional showroom solutions require:

• Local servers
• Special hardware
• Complex hosting setups
• Costly maintenance

This increases:

• Total cost of ownership
• IT dependency
• Scaling limitations
• Technical complexity

Modern wholesale software must be:

• Cloud-based
• Scalable
• Upgrade-safe
• Free of hardware dependency

FIRE: structurally different

FIRE was not designed as a digital presentation layer.
It was built as a structured wholesale sales execution and control platform.

Preorder, reorder and B2B are not separate modules.
They operate within one integrated system.

Unified architecture instead of system breaks

Within FIRE:

• Preorder and B2B are fully connected
• Reorder is embedded in the overall control logic
• Pricing and customer data are ERP-consistent
• The sales app is synchronised in real time
• One central data foundation exists

No parallel data worlds.
No conflicting information.
No duplicated maintenance.

Middleware as stable integration backbone

FIRE operates with an active middleware layer:

• ERP remains the transactional backbone
• CRM remains the relationship layer
• FIRE becomes the structured execution and control layer

This ensures:

• Clean data flows
• Stable synchronisation
• No Excel workarounds
• Architectural clarity
• Long-term scalability

Modern, high-performance user experience

FIRE combines structure with experience.
It delivers:

• Modern, high-performance interfaces
• Clear collection architecture
• Intuitive navigation
• Consistent global brand presentation
• Fast system responsiveness
• Professional sales app usability

It does not feel like an ERP extension.
It feels like a powerful, modern wholesale platform.

Structure in the backend.
Strength in the frontend.

Data across the entire wholesale journey

A decisive difference lies in data capture.

FIRE collects structured information across the full wholesale journey:

• Preparation
• Sales meeting
• Preorder decision
• Post-meeting adjustments
• Reorder activation
• Long-term customer development

Captured data includes:

• Selected SKUs
• Rejected styles
• Assortment modifications
• Size curve adjustments
• Reorder triggers
• Market reactions
• Customer-specific preferences

This enables:

• Longitudinal decision tracking
• Cross-market comparison
• More accurate forecasting
• Smarter allocation
• Future-ready, data-driven steering

Wholesale becomes controllable — not just visible.

Executive summary

Classic digital showrooms fail due to:

• Disconnected processes
• Inconsistent data
• Incomplete pricing logic
• Spreadsheet-like interfaces
• Technical complexity
• Lack of real control

If you are evaluating the best wholesale software, the decisive question is simple:
Does your system merely display products — or does it structure, control and optimise your wholesale business?

FIRE connects:

• Preorder
• Reorder
• B2B
• Pricing and customer logic
• Middleware integration
• Cloud architecture
• Premium user experience
• Structured data capture

Within one unified wholesale control platform.
That is how FIRE does it better.

FAQ – Digital Showrooms and Wholesale Platforms

Why do many digital showrooms fail in fashion wholesale?
Many digital showroom solutions focus primarily on visual presentation rather than operational sales processes. While they display collections effectively, they often lack integration with preorder workflows, reorder management and ERP systems. This fragmentation limits their strategic value.

What challenges arise from fragmented wholesale systems?
When preorder tools, B2B portals, ERP systems and reorder management operate separately, companies often face inconsistent data, manual coordination and limited transparency. These inefficiencies slow down decision-making and reduce operational efficiency.

Why is a digital showroom alone not enough for wholesale sales?
A digital showroom can display collections, but wholesale sales require additional capabilities. Structured preorder processes, variant selection, order management and performance tracking are essential to convert product presentations into measurable revenue.

What capabilities should a modern wholesale platform provide?
A modern wholesale platform should combine digital collection presentation with structured preorder workflows, reorder management and ERP integration. It should also capture sales interactions and provide real-time insights into market performance.

Why is accurate pricing logic critical in wholesale systems?
Wholesale pricing often includes customer-specific agreements, discounts and market-based conditions. If digital systems cannot represent this complexity accurately, sales teams may present incorrect prices, which can lead to errors and reduced customer trust.

How can integrated platforms improve wholesale sales execution?
Integrated platforms connect presentation, ordering and analytics within a single system. This enables sales teams to work with consistent data, reduces manual coordination and improves decision-making across markets.

What role does structured data play in wholesale management?
Structured data allows brands to analyse sales decisions, buyer behaviour and product performance. These insights support better forecasting, smarter allocation strategies and long-term growth.

How does FIRE differ from traditional digital showrooms?
Unlike many showroom tools, FIRE integrates presentation, preorder workflows, reorder processes and performance analytics into a single architecture. This creates a structured environment for managing the entire wholesale sales lifecycle.

Why are cloud-based wholesale platforms becoming standard?
Cloud-based platforms offer scalability, reduced infrastructure costs and easier system maintenance. They also enable global teams to access the same real-time data environment.

How does structured sales data support future AI applications?
Artificial intelligence relies on structured datasets to analyse patterns and generate predictions. When wholesale interactions and decisions are captured systematically, AI models can identify demand trends and improve forecasting accuracy.

About FIRE

FIRE is the leading wholesale sales, preorder, reorder and control platform for fashion brands and seasonal B2B organisations.

As a structured execution layer between ERP, CRM and market interaction, FIRE enables:

• Structured preorder and reorder workflows
• Full integration of complex pricing and customer logic
• Real-time synchronisation
• Active middleware-based integration
• Data capture across the entire wholesale journey
• Private cloud SaaS architecture without hardware dependency
• Premium digital brand and product experience

Experience how wholesale works when structure, data and experience align:
https://www.fire-digital.com/en/products/products/overview

Luxury platform Farfetch has introduced a new premium service designed to elevate the customer experience through immersive brand pages and faster delivery. ‘Farfetch First’ is initially launching across Europe, including in the UK, Germany, France, Italy, and Switzerland, with a phased global rollout due to follow.

The service offers users a free upgrade to next-day delivery and an end-to-end customer experience that looks to elevate the proposition for brand partners joining the programme. In a bid to further underline reliability and speed of service, thousands of luxury items are expected to become available under the Farfetch First banner.

Its launch is complemented by a brand campaign, ‘The Wait is Over’, which is deployed across a series of stills and videos. The creative is overseen by Matthew Whitehouse, head of editorial content and creative at Farfetch, who sought to showcase everyday moments in a playful way.

Speaking on the service, Stephen Eggleston, chief commercial officer at Farfetch, said: “Through Farfetch First, we provide luxury brands with an elevated digital presence, enhancing their unique storytelling and meeting the expectations of global customers, who view time as an essential dimension of a truly unique shopping experience. Farfetch First is set to become the benchmark for reliability and impeccable service in luxury.”

The introduction of the new service comes as the e-tailer’s owner, Coupang, continues to explore ways to improve performance. In 2023, Farfetch was facing mounting financial concerns, with its UK business alone reporting 805.5 million pounds in annual losses. This then narrowed into 2024, when the company’s loss after tax sat at 471.4 million pounds.

Turnaround efforts appear to be paying off. In the fourth quarter of 2025, Coupang reported Farfetch’s first quarterly positive year-over-year revenue growth since acquiring the luxury platform. Coupang CEO and chairman, Bom Kim, said at the time that there was a “real opportunity to create value for luxury customers around the world by combining Farfetch’s vast assortment with a white glove shipping and returns experience”.

In a decisive blow to the European “grey market,” the European Anti-Fraud Office (OLAF) confirmed on 6th May 2026 the successful conclusion of a coordinated strike against a sophisticated smuggling network. Working in tandem with Polish and Spanish customs officials, OLAF investigators intercepted a rail corridor originating in China that was being used to funnel illicit goods into the heart of Europe. The operation culminated in the seizure of three massive shipping containers in Poland, containing approximately 70,000 kilograms of textiles that were never intended for legitimate retail shelves.

“Diversion schemes that abuse transit procedures undermine fair competition, deprive public budgets of revenue and put honest businesses at a disadvantage. This operation shows the importance of close cooperation between OLAF and national customs authorities to protect the EU market and ensure that transit procedures and customs rules are respected,” commented OLAF’s director-general Petr Klement in a statement.

“Textile Diversion Scheme” exploits “transit procedure”

How did the scheme work? The criminal network utilised a strategic loophole known as the T1 Transit Procedure, which allows non-EU goods to travel across the continent duty-free, provided they are destined for a final market outside the European Union. In this specific scheme, the cargo was officially declared for export to Africa via Spanish ports. However, investigators discovered that while the digital tracking systems falsely confirmed the arrival of the goods in Spain to close the transit record, the physical containers were being illegally diverted and unloaded in Europe. This manoeuvre allowed the smugglers to bypass the high customs duties designed to protect domestic manufacturers.

Broader context: larger crackdown in Poland

The recent seizure is part of an intensifying offensive against trade fraud at the EU’s eastern borders. It follows a landmark OLAF report from late April 2026, which exposed a massive VAT and customs ring operating on the Polish-Belarusian border. That wider investigation, which led to the detention of nine suspects, revealed a systemic abuse of “Customs Procedure 42”—a mechanism for deferring taxes that fraudsters exploited to the tune of 118 million euros in evaded duties and 79 million euros in lost VAT. These combined efforts signal a zero-tolerance approach to the shell companies and falsified documents that have long plagued the sector.

Key takeaway

For the global garment industry, these enforcement actions represent a significant shift toward data-driven policing. OLAF’s ability to identify suspicious trade patterns through real-time analytics means that “transit” shipments are now under unprecedented scrutiny.

While this crackdown levels the playing field for honest businesses by removing low-cost, smuggled competition, it also serves as a warning for legitimate brands: supply chain transparency is no longer just a sustainability goal, but a legal necessity to avoid the delays and disruptions of an increasingly vigilant European customs net.

Lectra, a specialist in technological solutions for the fashion industry, unveiled its financial results for the first quarter of 2026 at the end of April. The company reported a decline in revenue amidst an unstable global macroeconomic climate. This was partially offset by the strength of its software subscriptions.

Revenue impacted by trade tensions

During the first quarter of 2026, Lectra recorded revenue of 113.2 million euros (133.2 million dollars). This marks a 16 percent decrease on a reported basis compared to the same period last year. Recurring EBITDA amounted to 12.1 million euros, representing a margin of 10.6 percent. Net income stood at 0.5 million euros.

This financial contraction is mainly due to a 44 percent decline in non-recurring revenue, directly linked to lower sales of physical equipment. The company highlighted that equipment orders fell by 25 percent on a reported basis compared to the first quarter of 2025. As the company noted in its report, this period served as a particularly high basis for comparison for the fashion sector and the Asia-Pacific region. This was because it preceded the announcement of new customs duties in the US.

Growth supported by recurring revenue

Despite the slowdown in hardware sales, Lectra's business model shows structural stability thanks to the growing strength of its services. Recurring revenue increased by 1 percent, driven in particular by strong 14 percent growth in SaaS software subscriptions. Annual Recurring Revenue (ARR) reached 100.6 million euros on March 31, 2026, representing a 3 percent increase on a like-for-like basis.

Lectra anticipates a significant rebound in the second quarter, supported by an equipment order backlog valued at 24.6 million euros. The company also reiterated the objectives of its 2026-2028 strategic roadmap, aiming for an average annual growth in SaaS ARR of approximately 15 percent. Finally, at the combined general meeting scheduled for the end of April 2026, the board of directors will propose a dividend of 0.35 euros per share.

This article was partially written with the support of an artificial intelligence tool before being completed and edited by a FashionUnited journalist.

OTB Group, the parent company of brands including Diesel, Jil Sander, Maison Margiela, Marni, and Viktor&Rolf, is teaming up with Google Cloud to launch a new AI-enhanced and “hyper-personalised” shopping experience using the technology giant’s virtual try-on API.

The initiative aims to bridge physical and digital shopping experiences by utilising Google Cloud’s generative AI to empower client advisors with digital styling tools to offer customers a hyper-realistic 360-degree visual preview of the product, which they can try on virtually, before encouraging them to book an in-store appointment to “experience the products first hand”.

The technology will launch with Diesel and Jil Sander across the US and European markets, before expanding in the coming months to Marni and Maison Margiela, followed by a rollout to additional markets.

Renzo Rosso, chairman and founder of OTB Group, said in a statement: "I have always believed in technology as a strategic lever to enhance human talent, at the service of people and creativity. In this context, Artificial Intelligence represents an extraordinary opportunity to make the customer experience more advanced, engaging and personalised.

“Together with Google Cloud, we have implemented a Virtual Try-On solution that introduces a new personalised shopping experience and provides our teams with more effective tools to deliver outstanding service and build closer relationships with clients. This project brings to life a vision I have been nurturing for over three years, made possible thanks to Google's best-in-class expertise in AI. I am confident this is the natural direction for the evolution of e-commerce and clienteling, and a key driver of growth for the future of the fashion industry."

The technology leverages Google’s Gemini Enterprise Agent Platform and Gemini models.

In addition, beyond the virtual fitting, the fashion group will also encourage customers to use AI image editing, built with Google's Nano Banana, to place themselves within Diesel's and Jil Sander's latest campaigns or fashion events, and then bring those images to life with video generated by Google's video creation LLM, Veo.

Matt Renner, president and chief revenue officer at Google Cloud, added: "Technology is at its best when it solves real-world challenges for the customer.

"This collaboration demonstrates how Google Cloud's AI can elevate the role of the retail team beyond automating tasks. By integrating Google Cloud's Virtual Try-On, OTB Group is pushing past standard transactions to provide client advisors with the AI tools needed to deliver deeply personal, confident shopping experiences at a global scale."

Austrian fiber producer Lenzing has reported a positive net result for the first quarter of 2026. This marks a financial recovery for the group following three consecutive negative quarters throughout 2025.

The group achieved a net profit of 24 million euros (28.24 million dollars) for the period ending March 31, 2026. While this figure is lower than the 31.70 million euros recorded in the first quarter of 2025, it represents a significant stabilization of operational development.

Revenue and earnings performanceRevenues for the first quarter of 2026 reached 615.70 million euros, a decrease of 10.80% compared to the 690.20 million euros generated in the prior-year period. Management attributed this decline to lower fiber sales volumes and pricing, alongside reduced pulp prices. The reduction in fiber volumes was partly due to deliberate production management.

This included the temporary curtailment of less profitable production lines to align with a strategic focus on value-generating growth.

EBITDA amounted to 116.30 million euros. The EBITDA margin stood at 18.90 percent, down from 22.60 percent in the first quarter of 2025. Lenzing chief financial officer (CFO), Mathias Breuer, stated: “During the first quarter of 2026, we further stabilized our operational development and returned to a positive net result after economically challenging previous quarters”.

The group is continuing its holistic performance program, which achieved savings of more than 200 million euros during the 2025 financial year. This transformation aims to structurally strengthen profitability and resilience through operational excellence and energy optimization.

Acquisition of TreeToTextile and outlook

In February 2026, Lenzing acquired a majority stake in Swedish fiber developer TreeToTextile. This move is intended to advance the group's premiumization strategy and its position in the market for next-generation specialty fibers. The initial consolidation of TreeToTextile resulted in a one-time positive effect from negative goodwill, which supported EBITDA for the quarter. Total positive one-off effects for the period reached 25.70 million euros.

Despite the return to profit, the market environment remains characterized by geopolitical tensions and volatile energy prices. Key risks include the Middle East conflict, which is expected to drive increases in raw material prices and inflation. Due to these ongoing uncertainties, Lenzing stated that a reliable forecast for the full 2026 financial year is currently not possible.

British sports fashion powerhouse JD Sports Fashion has reported a resilient performance for the 52 weeks ended January 31, 2026, despite what it described as a tough global industry backdrop. The group achieved total sales of 12.66 billion pounds (17.22 billion dollars), representing an 11.7 percent increase at constant currency and organic sales increase of 2.1 percent.

For the 2026/27 financial year (FY27), the group has provided a wider profit guidance range of 750 million pounds to 850 million pounds to reflect ongoing macroeconomic uncertainty.

North America becomes largest regional market, apparel category drives growth

North America has officially overtaken the UK as the largest region for JD Group, now accounting for 38 percent of total sales. Revenue in the region reached 4.78 billion pounds, supported by the annualization of the Hibbett acquisition. Operating profit in North America reached 353 million pounds, representing 40 percent of the group total. Organic online sales in the region grew by 12.2 percent, a result the group attributed to improved ranging and technology platforms.

Group performance was supported by growth in all regions except the UK. While reported revenue climbed 10.5 percent, profit before tax and adjusting items (PBTAI) decreased by 7.7 percent to 852 million pounds. Statutory profit before tax fell 12 percent to 629 million pounds, impacted by higher operating costs and investment in infrastructure.

Europe also delivered a resilient performance with organic sales growth of 4.2 percent to 4.25 billion pounds, and Asia Pacific, representing 4 percent of Group sales exited the year with positive LFL momentum. Overall, Asia Pacific delivered organic sales growth of 8.5 percent and LFL sales of 0.4 percent. The company ended FY26 with 4,811 stores worldwide in 36 countries.

While like-for-like (LFL) sales declined by 2.1 percent across the group, the apparel category remained a strong performer with organic growth of approximately 5 percent year-over-year (YoY). Yanmei Tang, AVP at Third Bridge noted that the shift into apparel is worth watching. "The category typically has higher margins than footwear, and if executed well, could support profitability even as overall growth remains weak," Tang said.

Footwear sales remained flat on an organic basis as the industry transitioned between product cycles. However, JD Group chief executive officer, Régis Schultz, noted encouraging momentum in the running category.

Strategic focus on omnichannel and artificial intelligence

The group is advancing its Beyond Physical Retail pillar by completing a global e-commerce re-platforming. Following successful roll-outs in North America and Italy, the UK and the rest of Europe are scheduled for upgrades later in 2026.

JD Group is also accelerating the adoption of artificial intelligence (AI). The company is embedding AI into its operating model to improve discoverability through agentic AI platforms and optimize merchandising decisions such as markdown timing.

While sustainability is increasingly impacting fashion economics, executive attention is paradoxically dropping. A new report, “Fashion CFO Agenda 2026”, argues that sustainability is no longer just a “high visibility” topic but a core financial discipline essential for long-term company resilience. It has been co-authored by Global Fashion Agenda (GFA) and Boston Consulting Group (BCG) and was presented yesterday as part of the ongoing Global Fashion Summit.

The boardroom practice is different, however, and the report highlights a critical disconnect in the industry: As research has shown, sustainability mentions in earnings calls have declined by roughly one-third since 2022, as leaders shift focus toward immediate pressures like AI adoption and geopolitical volatility. The report shows why embedding sustainability into finance should become a CFO imperative.

Sustainability priorities vs. budget pressures

Sustainability is now a material factor reshaping the cost structures of fashion companies through intensifying financial implications. Climate-driven disruptions have already caused price spikes of up to twofold for raw materials like cotton and wool. As Mango CFO Margarita Salvans observes, the focus has moved from “if” to “how”—specifically, “how we balance sustainability priorities within budget pressure”. Integrating these factors into corporate finance is presented as a prerequisite for mastering risk and unlocking new value.

A major looming financial pressure is the implementation of Extended Producer Responsibility (EPR) for textiles, which shifts end-of-life costs to producers. In the EU, member states must establish these systems by April 2028. For a large mass-fashion player, EPR fees could lead to a 1.1 percent increase in cost of goods sold (COGS) and a 4 percent decrease in net profit by 2030, according to the report. To mitigate this, it suggests “eco-modulation,” where fees are adjusted to reward circular or lower-impact designs.

Unlocking value and efficiency

Despite the costs, the report identifies significant economic upsides to sustainable practices. Approximately 70 percent of fashion-sector greenhouse gas (GHG) emissions could be reduced at low cost or even with cost savings, such as switching to renewable power, it argues. Furthermore, circular business models (CBMs) like resale and rental are outperforming the overall market, with second-hand fashion projected to grow at a 10 percent compound annual growth rate (CAGR) through 2030. According to the report, these models provide a pathway to decouple revenue from resource use while diversifying income streams.

The CFO's role is evolving into the strategic custodian of financial resilience, separate from but complementary to the chief sustainability officer (CSO). While the CSO sets the direction, the CFO enables execution by hardwiring sustainability into financial control, planning and strategic capital allocation. “When you start measuring impact, you uncover inefficiencies,” notes Adam Karlsson, CFO of the H&M Group, highlighting how sustainability data reveals hidden operational waste.

Four approaches to prioritisation

Given that short-term budget pressure is the leading barrier to investment, the report outlines four financial approaches to guide prioritisation: risk mitigator, cost optimiser, commercial driver and transformation enabler. Companies should select an approach based on their maturity and ambition, moving from a focus on compliance to embedding sustainability into core strategy. Dorte Rye Olsen of Bestseller emphasises that (double) materiality assessments remain “an essential tool in ensuring we allocate resources and capital where we deliver the greatest impact”.

Effective deployment of capital is essential for scaling innovation, such as next-gen materials and textile-to-textile recycling. The H&M Group, for example, used its “New Growth & Ventures” function to become a majority owner of resale platform Sellpy, which saw its turnover more than double between 2022 and 2025. The report suggests using advanced mechanisms like sustainability-adjusted hurdle rates or internal carbon pricing to better reflect the long-term benefits of these strategic investments.

Ultimately, the CFO cannot succeed in isolation; success requires both internal alignment and external collaboration. Internally, strong CFO-CSO alignment and board buy-in are critical for navigating trade-offs. Externally, initiatives like the Future Supplier Initiative (FSI) demonstrate how brands can collectively de-risk supplier capital expenditure through blended finance structures.

“For most companies, investments in sustainability are still largely driven by economic fundamentals such as cost predictability, supply security and effective risk management. However, as market mechanisms and regulatory frameworks increasingly internalise these factors, a stronger foundation is emerging for sustainability investments to become a natural and integral part of core business strategy,” concludes Engin Mete, chief growth strategy officer and CFO of Re&Up.

Shortcomings

Despite the report’s compelling financial logic, a potential flaw in the argumentation lies in the tension between long-term resilience and the immediate survival of low-margin players. While the report suggests that 70 percent of emissions can be abated at a low cost, the direct savings often accrue to suppliers, leaving brands to rely on “indirect benefits” that may not materialise quickly enough to offset the 4 percent net profit erosion predicted from EPR fees.

Furthermore, the transition from a “risk mitigator” to a “transformation enabler” assumes a level of capital flexibility that the report itself acknowledges is currently restricted by short-term budget pressure—the leading barrier to investment. By framing the decline in executive attention as a “fundamental disconnect,” the authors risk underestimating the very real possibility that for some companies, the immediate cost of sustainability implementation may outpace the speed of value capture in a softening market.

Fashion-Enter Ltd (FEL), a British clothing manufacturer and the organiser of Leicester Made & Regions, has been awarded the King’s Award for Enterprise 2026 in the Sustainable Development category.

The award recognises the organisation’s efforts in sustainability integration within fashion manufacturing and education, specifically in the implementation of technology and the endorsement of ‘Made in the UK’ production.

FEL follows an “ethical” micro-factory model that prioritises low-volume and “environmentally-conscious production”, initiated alongside apprenticeship programmes and garment repair and repurposing initiatives.

The Royal accolade is approved by His Majesty The King following recommendation by the Prime Minister, Keir Starmer, and includes an invite to a Royal reception, where FEL will be presented with the award by a Lord-Lieutenant. The company will also be entitled to use the King’s Awards emblem for the next five years.

In a statement, Jenny Holloway, CEO of FEL, expressed how proud she was of the team for their hard work and passion. “The King’s Award is a testament to our collective effort to push boundaries and build a sustainable, forward-thinking company that is relevant to today’s dynamic fashion environment,” she added.

Much of FEL’s efforts in recent years have been centred around reviving the reputation of manufacturing hubs like Leicester, where “overinflated” allegations of exploitative practices have caused widespread impact on the livelihoods of factories and workers.

Now, FEL has bolstered efforts to motivate and urge British brands to commit to ordering from such factories in a push for localisation and onshoring, which has gained traction due to complications surrounding international supply chains.

Sportswear brand Castore has secured a 90 million pound facility with banking partners as it continues to pursue global expansion and rollout a growth strategy. The company said it would use the funding to facilitate new retail openings across the UK, as well as support growth into the Middle East and Asia.

In a statement, Mark Rowan, global relationship director at HSBC UK, which was joined by BNP Paribas and Lloyds in the funding round, said: “Castore has demonstrated impressive growth since its launch and continues to build a strong presence both in the UK and internationally.

“It’s fantastic to be among the banking partners to support the business with this funding, which will provide the support needed to execute its ambitious expansion plans and long-term growth strategy.”

Founded in 2015, Castore is now targeting a turnover of more than 300 million pounds over the next financial year, a mission it intends to achieve through investments into digital infrastructure and analytics capabilities.

Beyond retail expansion, Castore has also been growing its presence through M&A, having specifically snapped up British premium brand Belstaff in a deal last year. At the time, Castore said it was planning to drive future growth through both companies, while steering Belstaff specifically back to profitability.

Speaking on the latest funding, Castore’s co-founder, Tom Beahon, said: “Our ambition for Castore is to continue to offer our growing customer base sportswear that is committed to performance, innovation and premium quality.

“This new funding provides us with the flexibility and ability to accelerate our retail rollout, expand into new international markets and continue to grow the brand in the UK and overseas. We are excited about the next chapter of growth and the opportunity to strengthen our position as a leading global sportswear brand.”

Steve Madden has reported an 18 percent increase in revenue for the first quarter of 2026, reaching 653.1 million dollars, supported by growth in direct-to-consumer and contributions from Kurt Geiger.

Net income rose to 71.8 million dollars, compared to 40.4 million dollars in the same period last year. However, adjusted net income declined to 32.1 million dollars, reflecting higher operating costs during the quarter.

Gross profit margin increased to 54.7 percent, while operating expenses rose to 39.5 percent of revenue. Adjusted operating income fell to 46.3 million dollars, compared to 56.1 million dollars a year earlier.

In wholesale, revenue increased slightly by 1 percent to 443.6 million dollars. Excluding Kurt Geiger, wholesale sales declined by 8.2 percent, with footwear down 12 percent. Accessories and apparel showed growth of 15.1 percent, though this was flat when excluding the acquired brand.

Direct-to-consumer was the strongest channel, with revenue rising 83.8 percent to 206 million dollars. Excluding Kurt Geiger, DTC grew 8 percent. The company also reported higher margins in the segment, supported by pricing and channel mix.

The group ended the quarter with 387 stores, alongside e-commerce operations and international concessions.

Chairman and CEO Edward Rosenfeld said demand remained healthy across brands, driven by product and marketing. He added: “While earnings declined in the first quarter, we expect to return to earnings growth in the second quarter and deliver strong top- and bottom-line growth for the full year.

“Looking out further, we are confident that our powerful brands, proven business model and talented team position us to deliver sustainable growth for years to come.”

For the full year, the company raised its revenue outlook and now expects sales to increase between 10 and 12 percent, with projected earnings per share in the range of 2.55 to 2.65 dollars.

Madrid – Following its initial investment in the Valencia-based company in early 2019, US investment firm Carlyle has reportedly decided to fully divest from Jeanologia. Carlyle also holds investments in other prominent Spanish and fashion sector companies, such as Codorniu and the Italian brand Golden Goose. Jeanologia specialises in eco-efficient technological solutions for the textile industry, and Carlyle currently controls approximately 40 percent of its share capital.

The Financial Times reported the terms of Carlyle's entry into Jeanologia's capital in early March 2019. The respected British financial publication stated that the US private equity firm had acquired 40 percent of the Valencia-based company. This transaction, according to sources close to the acquisition, valued the company at approximately 150 million euros. Based on these figures, Carlyle's purchase of the 40 percent stake in Jeanologia would be valued at around 60 million euros.

Just three days after the financial media broke the story, Carlyle confirmed the transaction without specifying the exact terms or the percentage of Jeanologia's capital it had acquired. The firm did clarify, however, that the purchase was limited to a significant minority stake. This stake was not acquired from the company or its founding family, the Silla Vidal family, but from the Spanish private equity firm MCH Private Equity.

MCH had entered the Valencia-based company in December 2015, acquiring a 35 percent stake for approximately 20 million euros. It was reported at the time that MCH would retain a minority share in Jeanologia. The firm later decided to sell this remaining stake, leaving the Silla Vidal family as the majority shareholder and Carlyle as the key minority shareholder.

At the time, Enrique Silla, chief executive officer of Jeanologia, stated: “Carlyle's entry into Jeanologia's capital will help us advance towards our aspirational goal of eliminating wastewater in the textile industry by 2023, making the manufacturing of traditional blue jeans an industrial and technological standard.”

Alex Wagenberg, managing director of The Carlyle Group, added: “We look forward to supporting Jeanologia's explosive growth by developing its innovative product range and future business opportunities.” The company closed the 2019 financial year—the last to be completed before the effects of the Covid-19 pandemic—with sales of approximately 104.48 million euros (a 3.38 percent year-over-year decrease) and a net profit of around 28.7 million euros (a 13.29 percent decrease).

Seeking a buyer for 40 percent of Jeanologia

Since then, with Carlyle remaining a key minority investor, the Valencia-based company has not fully realised the potential the investment firm saw in 2019. Compared to the declining figures at the end of that year, the Valencian textile company closed its 2024 financial year with a turnover of approximately 45 million euros (a 17.2 percent year-over-year increase) and a net profit of around 4.3 million euros (a 43.33 percent increase). While these results show positive growth compared to 2023, the company's revenue remains 56.93 percent below 2019 levels, and its profits are 85 percent lower.

In this context, Carlyle has reportedly decided to fully divest from the Valencia-based company, which specialises in eco-efficient technologies for the textile industry, specifically for manufacturing denim garments and fabrics. Since its founding in Valencia in 1994, its technologies have been implemented into the value chains of major fashion brands and houses, including Levi’s; Uniqlo; Gap; Inditex; American Eagle; Abercrombie & Fitch; Mango; Chanel; Prada; Balenciaga and Guess.

The Spanish company estimates that its technologies are currently used to produce more than 40 percent of all jeans manufactured worldwide. This operational scale, however, does not appear to be reflected in the company's financial statements. Coinciding with its 30th anniversary in 2025, Jeanologia announced it was preparing to open a new chapter of development by “integrating artificial intelligence, robotics and advanced automation to create smarter, more precise and efficient processes”.

For this new chapter, which began to take shape in 2026 with the launch of “Billy”—presented as “the first artificial intelligence developed specifically for denim design”—the company's founders aim to continue leading Jeanologia with their 60 percent stake. This was reported by sources close to the company to the financial publication Expansión. The publication also reported that Carlyle has hired Banco Santander to act as a financial advisor and prepare the sale process for the 40 percent stake still held by the US investment firm.

Danish fashion conglomerate Bestseller has announced it is investing 3 million US dollars in the Regenerative Fund for Nature to support regenerative agriculture projects in South Africa’s Eastern Cape.

The funds will be used to support local sheep farmers and shepherds, aiding them with land regeneration and enhancing overall living conditions in South Africa. The Regenerative Fund for Nature was established by Conservation International and Kering in 2021, with Spanish fast-fashion conglomerate Inditex joining in 2023. Bestseller is the latest company to be joining the initiative as a partner.

“The contribution reflects our aim to support the raw material landscapes that are important both for nature, for the people who live off them and for our industry,” said Dorte Rye Olsen, Head of Sustainability at Bestseller, in a statement. “Through the Regenerative Fund for Nature, we participate in a long-term collaboration, where initiatives are developed over time and in close interaction with local actors.”

Conservation International has been working with local partners for several years now in the Eastern Cape to bring back and protect traditional grazing methods that protect the environment while improving living conditions for locals.

“Over the past five years, our work in the Eastern Cape has shown measurable benefits for the shepherds and their land,” said Virginia Keesee, who leads Conservation International's global fashion and nature initiatives. “Bestseller's support will help us spread the impact across the region.”

An Ireland-based watchdog has launched an investigation into Infinite Styles Services Co. Ltd., the Irish arm of Shein, over concerns of its handling of EU customer data.

The Data Protection Commission (DPC) has opened the investigation under the Data Protection Act 2018, and has said it will examine how Shein Ireland transfers personal data of EU and EEA users to China. The DPC will assess whether the company complies with key requirements under the General Data Protection Regulation (GDPR).

The inquiry will focus on three main areas: how personal data is processed under GDPR principles, whether Shein Ireland meets transparency requirements when collecting user data, and whether its international data transfers comply with rules governing transfers to third countries.

The move builds on increasing regulatory attention towards cross-border data flows, particularly in relation to China, which have become a growing focus for European authorities.

Deputy commissioner, Graham Doyle, said: “When an individual’s personal data is transferred to a country outside the EU, the GDPR requires that this personal data is afforded essentially the same protections as it would within the EU.”

Update May 6 2:45pm CEST: Shein has issued a statement to FashionUnited in response to the DPC investigation. ""We take our data protection obligations extremely seriously and are fully committed to complying with the GDPR and all applicable data protection laws. Ensuring the security of our customers' personal data is a top priority for our business.

"We have been actively engaging with the DPC in recent months on our data protection approach, including a number of important ongoing initiatives that reflect our commitment to maintaining the highest standards in data handling. We look forward to presenting that work as part of this process."

Madrid – As part of its sustained commitment to the Spanish and Portuguese markets, Primark's management for Iberia has just announced an investment of over 85 million euros (100 million dollars) in its businesses in both countries. These funds will be used for the refurbishment of part of its current store portfolio and for the opening of new establishments. For Spain, this move also commemorates the 20th anniversary of the chain's operations in the country.

Primark plans new stores in Spain

This is the first new investment in its Spanish operations announced by Primark since completing its last investment programme. That initiative was announced in late 2022 for an estimated two-year period to be completed by the end of 2024. During that time, the fashion chain committed to investments of around 100 million euros for both the renovation and expansion of its stores and the opening of eight new establishments.

Its parent company, Associated British Foods (ABF), has currently initiated a demerger plan that is expected to conclude in 2027. The chain ultimately surpassed these objectives, adding more openings than planned and postponing some initially announced as part of that investment programme. As a result, it grew from 56 stores in Spain at the end of 2022 to 67 after the opening of its store in the Jaén Plaza shopping centre in Jaén last September. It currently operates this number of stores across the country, following the inauguration of a total of 11 new stores between 2022 and 2025.

Expansion in Portugal on the agenda

Meanwhile, regarding Portugal, the chain announced a 40 million euro investment programme in 2024. These funds were also designated for the expansion and updating of its retail network, including one expansion project and four new openings. This is all part of an equally firm commitment to the Portuguese market, where Primark currently operates 13 establishments. This network of stores, like the one in Spain, will be renovated and expanded as a result of this new investment programme. Primark estimates this will help generate more than 300 new direct jobs across the Iberian Peninsula.

“This is a historic moment for Primark on the Iberian Peninsula,” remarked Carlos Inácio, director general of Primark for Iberia. “This investment reflects our confidence in these markets and our long-term commitment to Spain and Portugal. In Spain, as we celebrate 20 years since our first store, we are proud of the connection we have forged with our customers and communities. We are now focused on investing in our existing stores to ensure we continue to offer an exceptional shopping experience for many years to come.” He added, “In Portugal, where the company continues to grow in popularity, we are building on recent momentum to expand our presence and reach new locations.”

Details of the Spain and Portugal retail expansion plans

Breaking down this investment programme, the chain's management specifies that of the 85 million euros committed, 40 million will be invested in Primark's business in Spain. The company first entered the country 20 years ago with the opening of a store in Madrid's Plenilunio shopping centre. It currently operates 67 points of sale and plans to end the year with 68 active establishments following the opening of a new store in the Los Alfares shopping centre in Talavera de la Reina. This will be Primark's second establishment in the province of Toledo. The store will launch as part of this investment programme, which will also see a total of 11 update and refurbishment projects. These will specifically target Primark stores in the Abacenter (Albacete); Puerta Europa (Algeciras); Espacio Mediterráneo (Cartagena); Splau (Cornellà de Llobregat); Miramar (Fuengirola); La Morea (Pamplona); Gran Plaza (Roquetas de Mar); Valle Real (Santander); As Cancelas (Santiago de Compostela); El Boulevard de Vitoria-Gasteiz (Vitoria); and Puerto Venecia (Zaragoza) shopping centres.

In turn, the remaining 45 million euros committed as part of this Iberian investment programme will be allocated by Primark to its business in Portugal. The company is celebrating 17 years of activity in the country. The British-Irish chain plans to expand its store in the Forum Coimbra shopping centre and undertake four new openings. These stores will open in Oporto, Vila Nova de Gaia, Castelo Branco and Setúbal. Notably, this includes the first high street store Primark will open in Portugal, located in the historic Palladium building on Rua de Santa Catarina in Oporto.

“In 2026, it will be 20 years since Primark opened its first store in Spain,” Primark detailed. “To celebrate this milestone, the chain will invest 40 million euros in new and existing stores to ensure its customers continue to enjoy an exceptional shopping experience.” The 11 renovation projects are particularly noteworthy. They “reflect Primark's strategy of reinvesting in its stores to offer the best customer experience” and “will include an optimised spatial layout, refreshed decor and a modern design in line with the latest store concept, as well as the introduction of self-service checkouts.” These same key elements will characterise the investments in Portugal. In this country, Primark will focus on continued growth with the four previously announced opening projects for a market “where the company has been consolidating its presence and building a strong customer base for 17 years.”

German lifestyle brand Kapten & Son, known for its minimalistic and functional backpacks and travel essentials, is strengthening its UK presence with its first dedicated fulfilment operation in the country to bypass post-Brexit friction and accelerate growth in the region.

In a statement, the European premium brand said the logistics investment reflects the brand’s rapid UK growth and its ambition to become the go-to backpack brand for British consumers and will dramatically reduce delivery times from 7 business days to just 1–3 business days.

Previously, the brand fulfilled orders from Germany, but with the post-Brexit challenges that many European brands face when operating in the UK, such as customs complexities and border delays, it felt that the longer shipping times didn’t reflect the premium experience Kapten & Son stands for.

The new UK fulfilment operation is delivered in partnership with third-party logistics provider Quivo.

Michael Rawson, UK country manager at Kapten & Son, said: "Every decision we've made in the UK has been about removing barriers between our customers and the products they love.

"First, we solved the customs issue [by introducing a DDP (Delivered Duty Paid) shipping solution], and now we're solving speed. With a UK warehouse, British customers will receive their orders in days, not weeks. This is us planting our flag and saying: we're here, we're committed, and we want to be the UK's favourite backpack brand."

Kapten & Son adds that the UK represents one of its “most exciting growth markets,” with strong performance across direct-to-consumer, retail, and business-to-business channels, boosted by the recent opening of its flagship store in Seven Dials, Covent Garden.

Amazon announced Tuesday it would invest more than 15 billion euros (18 billion dollars) in France over the next three years, creating more than 7,000 jobs, according to a statement sent to AFP.

The investment would support the construction of new logistics sites, the development of cloud and artificial intelligence capabilities, and consolidation of existing networks, Amazon stated.

It marks the online retail giant's largest investment in France to date, the company said, adding to the more than 30 billion euros already invested in the country since 2010.

It will result "in faster deliveries, a wider selection and low prices accessible throughout France, and a reduced environmental footprint thanks to a local logistics network," said Jean-Baptiste Thomas, managing director of Amazon in France, in the statement.

France is the third international market that Amazon entered outside the US, after Germany and the UK.

A long-running trademark dispute between Adidas and Thom Browne has moved closer to a conclusion, after a US appeals court upheld an earlier ruling in favour of the luxury label.

In a decision issued on April 29, the US Court of Appeals for the Second Circuit confirmed that the case would not be reopened, backing a 2023 jury verdict which found Thom Browne not liable for trademark infringement.

The case began in 2021, when Adidas accused Thom Browne of infringing its signature stripe trademarks through similar designs used on activewear. A jury later ruled in favour of Thom Browne, and the decision was upheld by a district court.

Adidas sought to revisit the case after obtaining internal emails from separate UK litigation, which it argued showed concerns within Thom Browne about similarities to Adidas’ designs. The company claimed this amounted to new evidence and requested the judgment be set aside.

However, the appeals court has now ruled that the emails were not sufficient to change the outcome of the case. It found that the materials reflected internal opinions rather than evidence of consumer confusion, which is central to trademark disputes.

The court also stated that the emails were not directly related to the products examined during the trial and would not have altered the jury’s decision.

In addition, the court rejected claims of misconduct in the handling of evidence, concluding that any issues were the result of negligence rather than intentional wrongdoing.

Danish jewellery brand Pandora has reported organic growth of 2 percent for the first quarter of 2026, a result comprised of flat like-for-like (LFL) growth and a 2 percent contribution from network expansion.

Despite significant external headwinds, the group maintained solid profitability. Performance varied across geographical regions, with LFL growth in North America ending at -2 percent as consumer sentiment weakened.

The EMEA region also recorded a 2 percent decline in LFL sales. Conversely, Asia-Pacific and Latin America demonstrated resilience, delivering growth of 12 percent and 6 percent respectively.

Margin compression reflects commodity and currency pressures

The gross margin for the first quarter ended at 79.5 percent, representing a decrease of 90 percentage points year-over-year (YoY). Efficiencies and other internal measures partially offset the impact of tariffs, commodity price fluctuations, and foreign exchange movements.

Operating profit (EBIT) margin landed at 20.9 percent for the period, compared to 22.3 percent in the first quarter of 2025. This result was achieved despite facing 440 percentage points of external headwinds.

Within product segments, LFL growth in the Core collection was -1 percent, though this was mitigated by strong performance in the Talisman range. The Fuel with More segment delivered 1 percent LFL growth, supported by the Timeless collection.

Guidance maintained for full year 2026

The group has confirmed its financial guidance for the full year 2026, forecasting organic growth between -1 percent and 2 percent with an EBIT margin of 21 percent to 22 percent. Management remains mindful of the current geopolitical environment and elevated economic uncertainty.

Current trading in the second quarter of 2026 indicates LFL growth is remaining approximately flat. Pandora president and chief executive officer, Berta de Pablos-Barbier, noted that the quarterly results aligned with internal expectations.

“We are advancing our initiatives to re-energise Pandora’s growth engine,” de Pablos-Barbier stated. “At the same time, we are expanding into new materials, positioning Pandora as a multi-material jewellery brand over time. We remain focused on executing our strategic plans despite the uncertain economic and geopolitical backdrop.”

Jamie Salter, the chief executive of Authentic Brands Group, has said the company is planning to go public soon as it outpaces its five-year goal of achieving 100 billion dollars in sales.

Speaking at the Reuters Momentum AI event, Salter said the target will be reached quicker if “we pull off the deals that we’re currently working on”, which could ultimately result in over 50 billion dollars in sales by the end of the year.

Salter didn’t elaborate on specific details of the IPO plan other than stating he would serve in a different position if the filing went through.

Authentic, the parent company of Dockers and Guess, has previously attempted to go public twice, but had been “bought out for way more than we were going public for”, Salter said.

The company is currently focused on its M&S strategy centred around kids entertainment brands and hospitality, while AI implementation is improving the efficiency of business development efforts.

Rising prices and a strengthening in the performance segment delivered “modest” growth across the US footwear industry in the first quarter of 2026.

Circana’s Retail Tracking Service data show that total US footwear sales increased by 1 percent in Q1 versus the same period last year, while overall units sold declined, and higher average selling prices (ASP) continued to support topline revenue.

The data adds that styles rooted in activity, comfort, and daily wear emerged as the strongest performers, with the performance category outperforming the broader market in Q1, with US dollar sales up 5 percent, supported by both unit demand growth and ASP increases.

Within the performance category, running shoes were the standout in Q1, reporting double-digit US dollar and unit growth, as consumers continue to invest in shoes that support regular movement and wellness routines. Cross-training styles, along with sport-oriented shoes for golf and tennis, also delivered “solid gains” as participation-based activities and hybrid fitness habits continue to influence purchasing behaviour, adds Circana.

In the lifestyle space, running-inspired silhouettes continued to gain share while other sport-inspired segments slowed.

Circana adds that some of this softness was absorbed by casual fashion categories that reflected the emphasis on wearability and comfort. Overall, the fashion segment delivered 2 percent US dollar growth in Q1, supported by higher prices despite declining units. Sandals posted growth in both US dollars and units, led by slides and flip–flops.

Other styles that showed demand included mules, clogs, and ballerinas, while fashion boots continued to decline despite growth in the high-shaft segment, as soft unit demand across ankle and mid-shaft styles outweighed meaningful ASP increases.

Beth Goldstein, footwear and accessories industry advisor at Circana, said in a statement: “Price increases remain a challenge for the footwear industry in 2026, pressuring unit sales, but certain segments are bucking the trend. Categories tied to daily use, activity, and casual comfort proved best positioned to capture consumer spending in Q1.

“As the year progresses and consumers remain selective in their spending, brands and retailers must connect their merchandising and messaging to their customers’ key lifestyle priorities – those that do this well will be the share winners in this slow growth environment.”

The plan, which was already announced in July 2025, now seems to be taking shape. American label Marc Jacobs could soon no longer be part of the LVMH group's portfolio. According to a report by the Financial Times, LVMH is considering the sale of the fashion brand, as well as cosmetics and alcoholic beverage brands, as part of a major restructuring.

In addition to the Marc Jacobs label, LVMH is considering selling its 50 percent stake in Fenty Beauty, the company launched by singer Rihanna. These transactions could bring LVMH billions of euros to reinvest in its business.

The sale of these businesses is part of a cost management policy and comes amid a slowdown in the luxury sector.

“LVMH is clearly reviewing its portfolio to see what is not working, what is weighing on margins, as it is in a period where pressures on the business are greater,” Luca Solca, an analyst at Bernstein, told the Financial Times.

The publication also stated that executives at Moët Hennessy, LVMH's beverage division, are sounding out potential buyers for brands like Eminente rum and the Joseph Phelps vineyards in California, according to sources close to the company.

Last April, the global luxury leader announced a turnover of 19.1 billion euros for the first quarter of 2026, an organic growth of 1 percent. Its Fashion & Leather Goods division, however, recorded an organic decline of 2 percent to 9.2 billion euros.

Marc Jacobs negotiations already broken down

The American brand had already been the subject of negotiations between LVMH and Authentic Brands Group (Reebok, Guess, Forever 21, etc.), but according to several media outlets, the talks fell through. The deal could have brought in around one billion dollars for the luxury conglomerate.

Launched in 1984, the eponymous Marc Jacobs label now boasts 280 stores worldwide and employs 1,300 people. It recently made headlines with a SS26 runway show punctuated with nods to its archives. Furthermore, director and founder's muse, Sofia Coppola, unveiled a documentary at the Venice Film Festival in September 2025, focusing on the creative process of her friend Marc Jacobs.

British clothing retailer Next has increased its full year profit guidance to 1.21 billion pounds after full price sales in the first quarter exceeded internal forecasts. Total full price sales for the 13 weeks to May 2, 2026, rose 6.2 percent compared to the previous year, surpassing the 4 percent growth initially anticipated by the group. This overachievement represented 28 million pounds in additional sales, contributing 8 million pounds to the revised profit outlook.

The performance was bolstered by a significant 11.8 percent surge in sales during the first five weeks of the year. While the conflict in the Middle East caused subsequent disruption, trade began to recover in the final five weeks of the period as delivery services returned to normal.

Performance across business divisions

The group saw varied growth across its operational segments, with international and online channels leading the expansion. Total online international sales grew by 12.8 percent, while the UK online division saw a 10.1 percent increase. Within the UK online segment, the Label business was a particular highlight, posting a 15.7 percent rise in full price sales.

Retail stores in the UK recorded a more modest growth of 3.4 percent. When combined with online operations, total UK sales rose by 4.4 percent. Despite the strong start, the company is maintaining its full price sales guidance for the remainder of the financial year.

Impact of Middle East conflict

Next has updated its assessment of the ongoing disruption caused by the conflict in the Middle East. The retailer now estimates total cost increases of 47 million pounds for the full year, up from a previous forecast of 15 million pounds. These costs include outbound delivery to international territories and inbound bulk freight to the UK, alongside rising energy and fuel expenses within UK operations.

To maintain its profit margins, the group has implemented a series of mitigation strategies. Overseas price increases, particularly in territories outside of Europe, will be introduced in May but are capped at 8 percent. In Europe, currency gains have offset the need for price adjustments.

In the UK, Next does not anticipate increasing prices beyond the 0.6 percent forecast at the start of the year. Instead, the company is leveraging better than expected factory gate prices and operational cost savings to absorb the 27 million pounds in additional UK-related costs.

Outlook and shareholder returns

The group expects sales growth to moderate in the second half of the year, particularly from August onwards. This is attributed to a tough comparative period in 2025, when the business achieved a step change in European aggregator sales through the adoption of Zeos distribution services.

The company plans to complete 510 million pounds of share buybacks this year, provided they achieve a minimum 8 percent equivalent rate of return (ERR). To date, Next has purchased 196 million pounds of shares at an average price of 126.52 pounds.

The next scheduled trading update, covering the first 26 weeks of the year, is set for August 5, 2026.

US resale platform ThredUp has announced its financial results for the first quarter ended March 31, 2026, reporting revenue of 81.70 million dollars. This represents a 15 percent increase year-over-year (YoY) as the company achieved a record month for new buyer acquisition.

Gross profit for the period totaled 64.70 million dollars, also reflecting a 15 percent increase compared to the same quarter in the previous year. The company maintained a stable gross margin of 79.2 percent, a slight improvement from 79.1 percent in the first quarter of 2025.

ThredUp CEO and co-founder James Reinhart stated: “We are proud to deliver Q1 out-performance, including a record month for new buyer acquisition. As we look ahead, we remain focused on executing our growth plan amidst an ever-changing consumer environment, and building a marketplace that delivers clear value to buyers and convenience for sellers.”

Net loss and updated outlook

The platform reported a net loss of 6.50 million dollars, or negative 7.9 percent of revenue. This compares to a loss of 5.20 million dollars, or negative 7.3 percent of revenue, for the first quarter last year. Adjusted EBITDA reached 2.70 million dollars, representing 3.4 percent of revenue, down from 3.80 million dollars and a 5.3 percent margin in the prior year.

For the second quarter 2026, the company expects revenue in the range of 89 million dollars to 91 million dollars, representing a 16 percent YoY increase at the midpoint. Gross margin is projected to remain between 78.5 percent and 79.5 percent, with an adjusted EBITDA margin of approximately 5.2 percent.

Looking at the full fiscal year 2026, ThredUp forecasts total revenue between 351.20 million dollars and 356.20 million dollars. This would result in a 14 percent increase YoY at the midpoint of the range. Reinhart and the executive team anticipate full year gross margins to hold steady between 78.5 percent and 79.5 percent, while the adjusted EBITDA margin is expected to reach approximately 6.1 percent.

Berlin-based online fashion retailer Zalando SE has closed the first quarter of the 2026 financial year with a significant increase in revenue and operating profit, as expected. However, negative one-off effects resulted in a significant net loss. In light of the current results, published on Wednesday, the management maintained its annual forecasts.

In the period from January to March, group revenue amounted to just under three billion euros. This corresponded to an increase of 23.8 percent compared to the same quarter last year. The acquisition of the e-commerce company About You last summer played a major role in this strong growth. On a pro-forma basis, revenue increased by 3.4 percent, according to the group. Additionally, “strong revenue growth in the B2B and retail media business” was achieved.

Gross Merchandise Volume (GMV) grew by 21.7 percent to 4.29 billion euros. On a pro-forma basis, it increased by six percent. The number of active customers increased by 18.8 percent year-over-year to 62.3 million.

Operating profit exceeds market expectations

The group also made progress in operating profit during the first quarter. The adjusted earnings before interest and taxes (EBIT) rose by 38.7 percent to 64.8 million euros, exceeding analysts' expectations. The group attributed this largely to synergy effects of ten million euros from the About You acquisition. The company is therefore “on track to achieve the synergy target of 40 million euros for the full year 2026”, according to a statement.

“Our first-quarter results reflect the financial discipline we demonstrated last year,” emphasised chief financial officer Anna Dimitrova. “We promised profitable growth and have delivered once again.”

One-off effects push the group into the red

However, the group had to record high one-off charges. Restructuring costs amounted to a total of 96.8 million euros, resulting mainly from the planned closure of the logistics centre in Erfurt.

The reported loss before interest and taxes was therefore 79.7 million euros, after a positive EBIT of 21.4 million euros was achieved in the same quarter last year. The bottom line was a net loss of 87.6 million euros. In the first quarter of 2025, Zalando had posted a net profit of 9.9 million euros.

Management confirms its annual forecasts

Co-CEO Robert Gentz drew an overall positive conclusion from the past few months. “Our strong first quarter demonstrates the strength of our strategy. We are very pleased with the progress we are making in scaling AI innovations and integrating About You,” he explained in a statement. “Our unique data and infrastructure platform, which we have built over 17 years – including the most extensive fashion-specific data in Europe and the leading European logistics network – is a huge advantage in combination with AI.”

The management maintained its forecasts for the full financial year, especially as the company stated it had observed “no significant operational or financial impact from the ongoing conflict in the Middle East” in the first quarter. Revenue and GMV are still expected to increase by 12 to 17 percent compared to 2025. The adjusted EBIT is expected to reach 660 to 740 million euros.

Berlin - The economic crisis is having serious, and for many, existential consequences for companies in Western Europe. According to the credit agency Creditreform, the number of corporate insolvencies rose last year to its highest level since records began in 2002. In 2025, a total of 197,610 insolvencies were recorded, an increase of 4.8 percent year-over-year. This marked the fourth consecutive increase.

“The crisis is not just cyclical, it is structural. Weak global trade and geopolitical risks are putting pressure on European companies,” said Patrik-Ludwig Hantzsch, head of economic research at Creditreform. At the same time, high energy prices and bureaucracy are hampering the competitiveness of many companies, especially compared to the US and China. “This double burden is eating away at the core of many businesses.” A further increase in cases is expected this year.

According to Hantzsch, the level of insolvency in Western Europe is higher than after the 2008/2009 financial crisis. The numbers have risen significantly in recent years. Although the momentum has recently slowed somewhat, experts report the situation remains at a high level.

Europe is increasingly diverging

Last year, the number of corporate insolvencies increased in most Western European countries. The increase was particularly sharp in Switzerland (+35.3 percent). According to Creditreform, this is mainly due to a change in legislation at the beginning of 2025. The enforcement of public-law claims has reportedly been tightened, which lowers the de facto threshold for bankruptcy.

An above-average increase in insolvencies was also recorded in 2025 in Greece (+24.4 percent), Finland (+12.1 percent)and Germany (+8.8 percent). In Germany, just over 24,000 cases were recorded, the highest level since 2014.

In contrast, a decrease was recently registered in six countries, including the Netherlands, Ireland and Norway. “Europe is increasingly diverging, and the economic weakness of the central industrialised countries is a burden for the entire continent,” said Hantzsch.

The picture is different for insolvency rates. Luxembourg leads the ranking with 243 insolvencies per 10,000 companies, followed by Switzerland (197) and Denmark (168). The rates are lowest in Greece (three) and the Netherlands (13). Germany is in the middle of the range with 77. However, the significance of this is limited.

Service sector most affected

According to Creditreform, the figures are only comparable to a limited extent. The insolvency laws of the countries differ considerably in some cases. Company closures cannot always be handled through formal insolvency proceedings. In addition, there are often multiple and differing statistics on the number of existing companies.

Insolvencies have recently developed with varying momentum across the main economic sectors. The increase in cases was more pronounced for service providers (+8.7 percent) and in the manufacturing sector (+3.6 percent) than in the retail and hospitality sector (+3 percent) and the construction industry (+0.1 percent).

The crisis is no longer limited to industry, said expert Hantzsch. Weak consumer sentiment and persistent price pressure are particularly affecting consumer-facing sectors. The majority of corporate insolvencies in 2025 were again in the service sector, accounting for a share of just over 43 percent.

In Central and Eastern Europe, the number of insolvencies has recently fallen. Experts see this as a catch-up effect following the Covid-19 pandemic. The level of insolvency remains high in many sectors.

Marche-based company Elisabet has signed a licensing agreement with Elie Saab for the design, production and worldwide distribution of a girl's footwear line, debuting with the spring/summer 2027 collection.

“This partnership reflects a clear strategic desire to develop and expand the childrenswear category, strengthening Elie Saab Kids as a complete lifestyle proposition, including footwear. The agreement supports our long-term vision for this segment. It is based on a solid collaboration founded on proven expertise," Elie Saab Jr., vice chairman and ceo of Elie Saab, emphasised in a note.

The first collection will be presented for spring/summer 2027 through a global network of boutiques and authorised retailers.

“Collaborating with Elie Saab means engaging with a brand characterised by a strong and recognisable aesthetic. Our goal is to translate this identity into the kids' footwear segment, through a careful balance of design, quality and attention to detail. This project allows us to further express our manufacturing know-how within a coherent and high-profile creative context," added Lara Vallasciani, ceo of Elisabet.

French sportswear brand Le Coq Sportif has decided to close its Spanish operations after its subsidiary in the country filed for bankruptcy. According to Modaes, the Spanish company has liabilities of around 2.5 million euros (2.69 million dollars), which has led to the cessation of its direct activities in the market.

The closure affects a workforce of around 25 employees, who are part of a collective redundancy plan. The brand, which previously had a presence in key Spanish retail locations, had already reduced its footprint to just two outlet stores, located in Viladecans and San Sebastián de los Reyes.

This withdrawal coincides with the insolvency proceedings faced by the French parent company in 2024, shortly after its high-profile role as an official supplier for the Paris Olympic Games. The company managed to avoid collapse thanks to the intervention of a consortium led by French-Swiss entrepreneur Dan Mamane, which prevailed over other bidders in court.

Looking ahead, Le Coq Sportif has not ruled out maintaining its presence in Spain through an agreement with a distribution partner, although no contracts have been signed yet. The group's next phase will be managed by a team led by Alexandre Fauvet, a former Lacoste executive, who will oversee the restructuring and redefine the strategy for the historic rooster brand.

Amazon announced on Monday the launch of a logistics service independent of its e-commerce platform, a move set to shake up the major players in the sector. Having initially relied on transport and delivery specialists, Amazon has gradually developed its own supply chain since the mid-2000s to better control its costs. Today, the Seattle-based group owns a fleet of tens of thousands of vans, more than 80,000 truck trailers and 100 cargo planes.

It also controls a network of more than 350 logistics centres globally and can manage the transport of goods from the point of production to final customer delivery anywhere in the world. Until now, this system was entirely dedicated to products sold on its e-commerce platform.

By creating a new subsidiary, Amazon Supply Chain Services (ASCS), the group is now offering its infrastructure to all businesses. "The supply chain is not just a function within Amazon, it is essential to an exceptional shopping journey," said Peter Larsen, vice president of ASCS, quoted in the press release.

"We believe we can offer the same cost optimisation, reliability and speed to Amazon's customers," he affirmed. ASCS already has several clients, including hygiene products specialist Procter & Gamble and industrial conglomerate 3M. This strategic development places Amazon in direct competition with the heavyweights of the letter and parcel delivery industry.

Copenhagen-based menswear brand NN.07 has reported a “strong” 2025, as the momentum it has built over the past years continues to show across all markets.

In a statement, NN.07 said sales increased by 18 percent in 2025, compared to 2024, while adjusted EBITDA came in at 7 million euros, despite what it calls a “demanding cost environment” and its continued investments in international expansion.

Anders Rahr, chief executive of NN.07, said: "What makes us proud is that this result is not driven by one thing. It reflects the strength of the team, the product, our partners and the brand momentum we are seeing.

“The momentum we have been building is starting to show. We are still early in our international journey, and the focus remains the same: building a global brand city by city and creating future classics that people come back to.”

NN.07, which stands for No Nationality, was founded in 2007 and has become known for its premium, wearable staples, including the ‘Simon 1000’ chino that helped launch the brand, as well as the ‘Theo’, a durable cotton-blend twill chino, and the ‘Gael’ jacket that Jeremy Allen White wore as Carmy in the TV show The Bear.

It has built on the buzz of what it calls its “future classics,” to expand internationally in key markets, with branded spaces and flagship stores in cities such as Copenhagen, London and New York, strengthening the brand’s global presence.

Alongside its freestanding stores, NN.07 is also available in more than 600 premium retailers worldwide, including Harrods, Harvey Nichols, Liberty, Nordstrom, Bloomingdale’s, Fred Segal, Printemps, and Mr Porter.

The Metzingen-based fashion group Hugo Boss AG suffered significant declines in sales and profit in the first quarter of the 2026 financial year. Management attributed this to the challenging environment and the “targeted refocusing of brands and distribution channels” as part of its ongoing ‘Claim 5 Touchdown’ reform programme. The results, which the company published on Tuesday, were nevertheless above analysts' expectations.

“Following our successful final quarter in 2025, we started the new year with a clear roadmap,” explained CEO Daniel Grieder in a statement. “The market environment has become more challenging over the course of the first quarter as a result of recent developments in the Middle East. Against this backdrop, we have consistently focused on what we can influence and have resolutely entered the implementation phase of ‘Claim 5 Touchdown’.”

The group has made “tangible progress in the targeted refocusing of our brands and distribution channels, including streamlining our product ranges and further sharpening our global sales presence,” said Grieder. These measures have, as expected, been reflected in the sales performance.

Group sales shrink by nine percent

Group sales reached 905 million euros in the period from January to March, a decrease of nine percent compared to the same quarter of the previous year. Adjusted for currency effects, revenues shrank by six percent.

Sales for the main brand, Boss, fell by seven percent (currency-adjusted -3 percent) to 779 million euros. “While key brand initiatives continued to support the brand's overall momentum, performance was significantly impacted by strategic measures to strengthen long-term brand value, particularly in womenswear,” a statement said. “At the same time, menswear proved more resilient during the quarter, driven by casualwear-focused ranges.”

The Hugo label recorded a decrease of 23 percent (currency-adjusted -21 percent) to 125 million euros. According to the company, one reason for this was the “continued strategic realignment of the brand” with a “clear focus on sharpening the brand identity around contemporary tailoring.”

Revenues decline in all market regions

The group suffered sales declines in all market regions. In the EMEA region, which includes Europe, the Middle East and Africa, revenues fell by ten percent (currency-adjusted -8 percent) to 568 million euros. According to the company, this was due to declines in key markets such as Germany, France and the UK. This was a result of “continued subdued consumer sentiment” and the impact of “targeted measures to improve distribution quality.” The group explained that in the Middle East, the effects of the Iran war became noticeable from March onwards, following a “solid start to the year.”

In the Americas, sales decreased by 11 percent (currency-adjusted -5 percent) to 188 million euros. In the Asia-Pacific region, they shrank by six percent to 123 million euros. On a currency-adjusted basis, however, they exceeded the previous year's quarter by one percent. “Drivers were the return to growth in China and further sales improvements in Southeast Asia & Pacific, supported by robust development in Japan,” the company announced. Global licensing revenues remained constant at 26 million euros.

Management confirms annual forecasts

The group was able to increase its gross margin to 62.5 percent, compared to 61.4 percent in the prior-year quarter, while simultaneously reducing operating expenses. Nevertheless, earnings fell significantly due to the decline in sales. The operating profit (EBIT) shrank by 42 percent to 35 million euros. The net profit attributable to shareholders fell by 52 percent to 17 million euros.

In light of recent developments, management confirmed its annual forecasts. A currency-adjusted sales decline in the mid to high single-digit percentage range is still expected. For EBIT, which reached 391 million euros last year, the target range is between 300 and 350 million euros.

US luxury retail company Saks Global has received approval from the US Bankruptcy Court for the Southern District of Texas for the disclosure statement accompanying its plan of reorganization. This milestone allows the group to begin soliciting votes on the Plan and maintains its trajectory to emerge from chapter 11 this summer.

The Plan is backed by a framework agreed upon with capital partners and the Unsecured Creditors’ Committee, which comprises several leading luxury brands. As part of this process, the US group has already secured a restructuring support agreement where capital partners have committed to provide 500 million dollars in exit financing.

Financial targets and five-year business plan

The court filings detail a five-year business plan outlining projected financial performance through fiscal year 2030. Saks Global aims to establish itself as the premier multi-brand luxury retailer by focusing on three core financial pillars:

Liquidity and transformation: At the point of emergence, the group anticipates nearly 700 million dollars in liquidity. This figure is expected to grow through positive cash flow and operational momentum.

Sales growth: The company has set a target to generate 9 billion dollars in total gross merchandise value (GMV) by FY30. This growth is predicated on an integrated retail model and deepened customer relationships.

Profitability: The retailer aims to deliver double-digit adjusted EBITDA by FY30. Strategic actions already underway include the optimization of its operational footprint and the exit of non-core businesses to focus on full-price luxury selling.

Saks Global chief executive officer, Geoffroy van Raemdonck, stated: “Today’s significant step forward demonstrates our continued momentum toward emergence this summer with a strong foundation for long-term growth. We are building a stronger, more focused company that is positioned to serve as the premier gateway to the US luxury customer.”

Strategic positioning for emergence

Since the initial filing, Saks Global has reported significant progress in stabilizing its operations. More than 650 brands have resumed shipping merchandise, which has released 1.5 billion dollars in retail receipts. This represents over 90 percent of the inventory expected for the first quarter of fiscal 2026 ending on May 2, 2026.

Upon emergence, Saks Global will operate with an optimized store footprint located in markets with high concentrations of luxury consumers. The company intends to leverage deep consumer insights to provide personalized experiences across its physical locations and digital platforms.

Van Raemdonck noted that while it will take time to fully realize the benefits of the restructuring, current sales and inventory results are outperforming internal projections. The company remains focused on meeting all required milestones in the chapter 11 process as it prepares to finalize its financial structure and return to standard market operations.

Interview

After a period of post-pandemic euphoria driven by a thirst for 'revenge' spending, the luxury industry is now facing a reality check. Caught between price inflation disconnected from product value and a structural creativity crisis, high-fashion houses are at a crossroads.

Alessandro Maria Ferreri, founder of The Style Gate and an engineer by training who has worked with major fashion houses, analyses the dynamics of an industry that urgently needs to trade its marketing certainties for a renewed industrial rigour.

Breaking the moral contract

Luxury is not suffering from a simple cyclical downturn. It is going through a “crisis of truth”. While external factors such as geopolitical tensions or declining purchasing power in Asia are often blamed, the problem runs deeper. It is a breach of the moral contract between brands and their customers. To understand how the industry could have alienated its consumer base, from the aspirational customer to the world's wealthiest individuals, one must delve into the complex mechanics of perceived value.

For decades, the sector thrived on a promise of scarcity and exceptionalism. The mechanism broke by courting the masses while demanding the tributes of the elite. “We have moved from a supply-driven industry, where the designer dictated taste, to a demand-driven one, where the consumer has been given the keys to the studio,” observes Alessandro Maria Ferreri. This reversal of roles marks the tipping point of an instability that is now shaking the headquarters on Avenue Montaigne and Via Montenapoleone.

Punitive inflation: breaking the value contract

One of the most documented phenomena of the last two years is the staggering price escalation of 'iconic' items. A flagship bag, whose price could remain stagnant for years, has seen its value double, or even triple, in record time. While rising raw material costs are a reality, they do not explain everything.

To compensate for shrinking volumes, houses have abruptly pulled the price lever. They bet on the blindness of the 'ultra-rich' client and the resilience of the 'aspirational' one. This gamble is proving to be a historic miscalculation.

“There is a semantic boundary that the industry has crossed at its peril: the one that separates 'costly' from 'expensive'. A product is costly when its exceptional quality, rarity and the time spent on labour justify its price. It becomes expensive as soon as a discrepancy is perceived: the quality seems average compared to a price that has exploded. The real shock occurred among the big spenders.

The wealthy client is not a foolish one. He refuses to pay 2,200 euros for a bag he bought for 1,200 euros yesterday, without detecting an ounce of additional added value. These customers know the value of leathers and finishes. By increasing prices without raising the level of excellence, the houses have insulted the intelligence of their best customers,” explains Ferreri.

This trend has led to a systemic erosion of trust. Luxury has ceased to be an emotional investment and has become, in the eyes of a clear-sighted clientele, a simple act of financial predation.

'Mercato' dictatorship and creative exhaustion

So what has really happened? Faced with sluggish sales, luxury houses have developed a Pavlovian reflex: the sacrifice of the Creative Director (CD). We are now witnessing a frenzied 'mercato', a game of musical chairs where employment contracts are consumed in months rather than years. This chronic instability ignores a fundamental law: creativity is not a resource that can be extracted on demand; it is a biological cycle that the industry is desperately trying to industrialise.

“A designer is not a slot machine. You do not insert a token and expect a miracle collection to appear in ninety days,” articulates Ferreri. The relentless pace imposed by the digital calendar, a continuous flow of six to eight annual collections from cruise to pre-collections, has simply eliminated the time for gestation. Deprived of the necessary breathing space to immerse themselves in culture or experiment with materials, CDs are reaching saturation point. This hunger for novelty then produces the opposite effect: a generalised visual standardisation. By trying to occupy every space all the time, the houses end up embodying nothing, nowhere.

Is the systematic replacement of designers a solution or an admission of powerlessness? For The Style Gate's strategist, “It is a symptom of the short-term pressure from shareholders and private equity funds. At the slightest difficulty, shareholders demand a change of face. Yet, recent history proves that transferring a designer from one house to another can worsen the decline. We have examples of designers who moved from one house to another and did worse in their new role. It is crucial to understand that luxury is an industry of long-term infusion. Investors, however, expect an immediate return on capital, forgetting that in this sector, the tunnel is sometimes very long before the light appears.”

Supply chain: awakening of ethics and proximity

Behind the scenes at fashion houses, another earthquake has occurred. Long relegated to the status of an invisible adjustment variable, the supply chain has become the core of a brand's reputational engine. Now armed with social media and rating tools, the consumer demands flawless traceability, turning production ethics into a major intangible asset.

“Transparency has become crucial. Take the case of Loro Piana, recently placed under observation: there is now an extreme sensitivity to human resources management and social responsibility. We are no longer just managing pollution thresholds, but respect for people, decent working hours and the sustainability of training,” analyses Ferreri. For the expert, the model of systematic offshoring has had its day. “Flying a prototype to the other side of the world to save a few euros on labour is ecological nonsense and an operational absurdity. If you impose a collection every three months, your ecosystem of tanners, embroiderers and pattern makers must be within easy reach.”

This necessary responsiveness signals the great return of Italy and France as production sanctuaries. Ferreri, who teaches these issues at the University of Milan, advocates for a permanent migration towards a 'zero kilometre' approach. “The luxury of speed requires physical proximity. When creating the prototype, you simultaneously set the price, the quality and the 'Made In'. Relocating production after this stage means breaking the product's integrity: you alter the materials, you weaken the finish and, paradoxically, you inflate logistics costs.”

Beyond geography, the challenge is one of transmission. For Ferreri, the houses must once again become the “guardians of craftsmanship”. “If we do not establish internal academies to transfer know-how to new generations, we condemn centuries-old manufacturing secrets to extinction. You cannot decently call a product 'luxury' if it is not made in a luxurious way. Without production that lives up to its label, luxury loses its raison d'être and its price legitimacy.”

Segmentation, or return of hierarchy

The 'aspirational' customer, a historic pillar of growth in the 2010s, is the great casualty of the current transformation. Squeezed by inflation that is disconnected from their income, they have deserted the boutiques. To reclaim this lost ground without diluting their prestige, houses are now forced to rethink the very architecture of their offering.

Ferreri observes a necessary return to more intelligent price structures. Since the 'main line' has reached inaccessible heights, we are witnessing a reorganisation of the accessories, beauty and eyewear divisions. The Kering group, by internalising its Eyewear division, has paved a royal road: mastering the production of these so-called entry-level products so that they cease to be mere 'merchandise' and once again become true brand ambassadors. “You may no longer be able to afford the 14,000 euro Chanel jacket, but you can buy the lipstick. It is this organic link that maintains the house's authority on the street,” the expert explains.

Faced with the brutal exclusion of the middle class, the return of 'second lines' is becoming the hot topic in boardrooms. For Ferreri, history is an eternal cycle: “Fifteen years ago, the industry killed off second lines, like D&G or Marc by Marc Jacobs, to centralise everything under the parent brand. This choice created a gaping void. Today, houses realise they have lost a customer who will never be able to cross the threshold of the first line. The 'very low end', cosmetics and optics, must once again feed the 'very high end'.”

The future of the sector will involve creating parallel lines, the luxury scholar points out. Without being a watered-down version of the main collection, these offerings will have to provide strong style content at a 'democratic' price (between 500 and 800 euros). They will target a younger clientele whose budget no longer keeps up with escalating prices, but whose desire to belong remains intact. Every house must now ask itself whether it should create these parallel lines to stay in touch with the population, and not cut itself off permanently from the sociological reality of the market, notes the expert.

'Phygital' experience: schizophrenic customer

The luxury consumer in 2026 is a hybrid. A complex, almost schizophrenic entity, asserts Alessandro. They use digital tools to compare, analyse and uncover the slightest quality flaw, but they cross the threshold of boutiques in search of an emotional charge that the screen cannot provide.

Physical retail must no longer just sell; it must now compete with the convenience of a 'click'. The challenge is above all a question of symbolic distance. “On the web, Louis Vuitton and a premium brand are just a click away. In the physical world, kilometres of prestige separate them. The role of the store is to materialise these kilometres through outstanding service,” Ferreri points out. The sales advisor's paradigm is thus shifting: they are no longer a simple executor of the transaction, but a historian of the house, a guardian of the temple capable of re-enchanting the product for a customer who already knows its technical specifications.

However, this hybridisation creates major organisational frictions. Digital has established bad habits: the customer tries on an item in-store only to purchase it online, seeking a specific variation or for simple convenience. “It is a logistical and human nightmare for the sales force. How can you sustain the structures and motivate the teams if the sale, initiated by their expertise, is finalised on a centralised website?” asks the expert from The Style Gate.

The survival of retail will depend on a complete and transparent integration of processes. The challenge is to transform what is currently internal competition into a fluid synergy: sales staff must be contractually involved and rewarded for their product mastery, regardless of the final transaction channel. For Ferreri, the physical point-of-sale must offer what the algorithm will never possess: a deep understanding of the brand and the irreplaceable vibration of human contact.

Epilogue: restoring creative authority

For Ferreri, the way out of the crisis will not be through accounting adjustments, but through a return to a certain form of intellectual elitism. The industry must stop apologising for its exclusivity and resume its role as a tastemaker.

“We made the fundamental mistake of delegating artistic direction to the consumer by asking them: 'Decide what you want to wear'. But the customer is not a designer. They are not looking for a mirror of their own habits; they expect a luxury house to impose a vision, a look, a boldness that surpasses them,” asserts the founder of The Style Gate. Luxury must once again become a prescription rather than a reaction.

While it is imperative to listen to market variations, the brand must remain the beacon that guides taste, not the reflection that succumbs to the whims of the era. The longevity of the great houses will depend on this ability to restore their creative authority: to be the ones who define desire, rather than the ones who chase it.

The dispute surrounding Luisa Via Roma may be reaching a turning point. A meeting held on Thursday in the Tuscany region to address the conflict at the Florentine fashion company concluded satisfactorily.

New owners commit to taking on entire Luisa Via Roma workforce

“The most important news is that representatives of the investors were at the negotiating table for the first time. This is the new company that will make an offer to take over the firm, which is in a simplified composition procedure,” emphasised Valerio Fabiani, adviser to president Eugenio Giani for labour disputes and corporate crises, according to Toscana Notizia, the news agency of the regional government of Tuscany. “It is positive that this initial exchange with the institutions and trade unions has taken place.”

Contrary to fears, the new owners have committed to taking on the entire workforce of Luisa Via Roma. They are thus complying with a demand from the Tuscany region and the trade unions.

Maximum employment guarantee achieved: there will be no first and second-class employees

“What we have achieved is the maximum employment guarantee. There will be no first and second-class employees; everyone will move to the new production company,” explained Fabiani.

“It will probably be necessary to resort to social support measures such as a social plan and short-time work. Another positive aspect is that the takeover process will be as short as possible, as production for the winter season is already being considered.”

Overall, these are positive signals for the company's approximately 200 employees. At the end of March, the court's protective measures for the negotiated crisis resolution procedure expired without an out-of-court settlement. The company subsequently announced that it had applied for a composition procedure to “support the continuation of the business”.

On April 7, the Luisa Via Roma store at Via Tosinghi 52r in Florence was closed. The store on Via Roma will therefore remain open. The Filcams Cgil union commented in a statement: “Management is making a mockery of the crisis talks. We demand urgent intervention from the institutions.”

Online retailer Zalando is set to present its figures for the first quarter this Wednesday, May 6.

What the company expects:

Zalando has set its sights on increased revenue and profit for 2026, also leveraging Artificial Intelligence (AI). For the current year, management is targeting growth in Gross Merchandise Volume (GMV) and revenue of 12 to 17 percent. Adjusted earnings before interest and taxes (EBIT) is expected to increase to between 660 and 740 million euros. Last year, Zalando recorded revenue of 12.3 billion euros. The Gross Merchandise Volume was 17.6 billion euros. Adjusted operating profit was 591 million euros.

Zalando also recently confirmed its medium-term targets for 2028. The group continues to aim for a compound annual growth rate (CAGR) of 8 to 13 percent for Gross Merchandise Volume and revenue, and an operating margin (adjusted EBIT margin) of 6 to 8 percent.

Following its strong business performance, Zalando has launched a share buyback programme. By July 14 at the latest, up to 20 million shares will be repurchased for up to 300 million euros. The shares are to be cancelled.

Zalando made progress with the integration of the acquired online fashion retailer About You, whose acquisition was completed last summer. Synergies of 100 million euros per year are now expected to be achieved by 2028, a year earlier than planned.

At the beginning of January, Zalando had announced the closure of its logistics centre in Erfurt, which employs 2,700 people. It is one of four logistics centres in Europe that are set to close following the acquisition of About You. The closure in Erfurt was criticised by Thuringian state politicians.

What analysts expect:

Analyst Georgina Johanan from US bank JPMorgan does not expect any surprises from the online fashion retailer's upcoming quarterly figures. The annual targets are likely to remain unchanged.

With regard to AI, William Woods from US research firm Bernstein assumes that it will bring about an evolution rather than a revolution in European retail. The product categories are crucial. Multi-brand retailers like Zalando are likely to feel this more significantly in the apparel market.

Analysts surveyed by Bloomberg expect revenue of just over three billion euros for the first quarter. The adjusted operating result is expected to have improved to around 63.8 million euros. In the previous year, revenue of 2.4 billion and an adjusted operating result of 46.7 million were recorded.

For 2026, industry experts expect on average a revenue increase to around 14 billion euros. The adjusted operating result is forecast at 699 million.

The Spanish menswear brand Williot has closed the 2025 financial year with a turnover exceeding 2.5 million euros, representing a growth of +25 percent compared to the previous year. This progress confirms the consistency of a business model that has successfully scaled while maintaining its strategic focus on growth without sacrificing brand coherence.

After reaching two million euros in 2024, the company is approaching 2026 with a turnover forecast of around 3.5 million euros. This projection would imply an increase of nearly +40 percent, driven by its international expansion plan and the strengthening of its online ecosystem, two key levers in its growth roadmap. “In the next three years, we want to establish a very clear perception in the consumer's mind: that of a relevant, contemporary, and consistent brand that combines design, quality, and a seamless shopping experience across all channels,” the company stated.

Online channel as main driver of growth

One of the most significant figures from the 2025 financial year is the prominence of the digital channel. According to the company, e-commerce has doubled its turnover compared to the previous year, becoming the main accelerator of growth. This momentum is the result of an intensive digitalisation strategy based on three pillars: optimising the user experience, investing in performance marketing, and developing a more integrated omnichannel structure.

Improvements in website navigation, a simplified purchasing process, and enhanced usability have been decisive factors. A greater focus on social ads and collaborations with content creators has also been crucial, Juan Bautista Anton, the company's CEO, explained to FashionUnited. The integration of physical and digital stock has also been key, particularly through services like click and collect and more streamlined returns.

Despite the growing importance of the online channel, brick and mortar stores continue to hold a strategic position within Williot's business model. The company advocates for their role not only as a sales driver but also as a fundamental asset for branding, customer acquisition, and experience building.

Currently, the brand has seven of its own stores in Spain, located in cities such as Alicante, Murcia, Elche, Almería, Albacete, Gijón, and Oviedo. These openings are part of a selective expansion strategy, focusing on key locations to enhance brand visibility and direct connection with the consumer.

Progressive internationalisation through marketplaces

Williot's international strategy is based on a gradual expansion model that combines digital consolidation with a structured entry into new markets. The company is already present on marketplaces such as Zalando and About You. These platforms serve not only as sales channels but also as key tools for visibility and testing in various European countries.

This approach allows the brand to accurately gauge the reception of its products in different regions and adapt its offering based on local consumer habits and preferences, thereby building a knowledge base before undertaking a more extensive expansion. On this roadmap, a potential integration with Amazon is emerging as the next strategic move to scale its international presence and optimise logistics and commercial operations.

Concurrently, one of the most significant milestones is the agreement reached with a local operator for distribution in Latin America. This step reinforces the company's ambition to position itself in a region with high growth potential for European menswear. This combination of global digital channels and local partnerships reflects a strategy designed for controlled yet sustained ambitious growth.

Founded in 2007 in Elche, a city with a strong tradition in the footwear industry, Williot began as a project initially linked to trainers, later evolving into a complete menswear concept.

Between 2007 and 2011, the brand experienced significant expansion in Europe with its footwear offering before consolidating its identity as a comprehensive menswear brand in 2013. The opening of its first store in 2014 and the implementation of e-commerce in 2015 marked the beginning of a period of structural growth. This growth accelerated between 2014 and 2018 with national expansion through stores, franchises, and multi-brand channels.

The turning point came with the arrival of new strategic partners through Grupo Evisa, which allowed the company to strengthen its financial structure and professionalise its management model. Since then, its evolution has been marked by more orderly growth, focusing on profitability, brand coherence, and scalability.

The remarkable expansion of the second-hand fashion market is not just a matter of numbers – it is being shaped by powerful cultural, economic, technological and regulatory currents. Understanding these drivers is crucial to appreciating why resale has become such a defining force in global fashion.

Environmental sustainability and circularity

Environmental awareness is one of the strongest underpinnings of resale’s growth. Life-cycle assessments suggest that when a second-hand purchase actually replaces the purchase of a new garment, associated emissions can be reduced by around 80% and climate impacts by several kilograms of CO₂ per item. 8 In practice, however, not every second-hand purchase is fully substitutive: recent studies put the displacement rate – the share of second-hand purchases that truly replace a new purchase rather than being bought in addition to it – at roughly 60% to 80% for fashion, implying that real-world savings are lower but still significant. Studies also show that, per use, choosing secondhand can cut climate impact by 42% and reduce energy demand by 42%, as well as result in 53% lower water scarcity footprint. These measurable benefits resonate especially with Gen Z and Millennials, who are highly climate-conscious. Campaigns such as Love Island – a hugely popular dating reality show among younger audiences – partnering with eBay in the UK, which triggered a 7,000% spike in searches for secondhand fashion on the platform,11 highlight how sustainability is moving into the cultural mainstream. Second-hand is no longer a compromise. Instead, it is becoming an aspirational expression of climate responsibility.

Affordability and value-seeking behaviour

Affordability is another central pillar of second-hand fashion’s popularity. Surveys show that 77% of Gen Z consumers in the UK cite affordability as a key advantage of secondhand fashion.12 At the same time, 62% of consumers worry that new tariffs could raise apparel prices, and nearly six in 10 say they would turn to more affordable options like second-hand if that happens.13 This financial logic runs alongside the appeal of ‘trading up’: resale allows many shoppers to access higher-quality or designer goods at a fraction of the original price, while sellers recoup value from items otherwise left idle. The result is a dual incentive system – save money and recover money – that reinforces second-hand items’ attractiveness during times of economic pressure.

Digital platforms and social commerce

While it’s clear that online resale has become the fastest-growing channel, the deeper story lies in how digital platforms are reshaping consumer behaviour and community. Marketplaces like Vinted, Depop and Poshmark have not only expanded access to millions of preloved garments but also turned resale into a highly social experience. For younger generations, these platforms are more than storefronts: they are communities where identity, creativity and sustainability intersect.

The integration of resale into social media is central to this shift. 39% of young shoppers bought second-hand apparel via social commerce platforms in the past year, and 50% said they purchased second-hand in the past year specifically to create or share content online.14 In effect, resale has become a cultural currency, where thrift hauls and vintage finds carry social value far beyond the clothes themselves.

Technology is also smoothing the resale journey. Almost 48% of consumers report that AI-driven tools such as personalised recommendations or image search make second-hand shopping as easy as buying new.15 This tech-enabled convenience helps overcome barriers like inconsistent sizing or quality uncertainty, making resale a seamless part of the shopping mix.

Together, these dynamics explain why resale is not just about cheaper prices or sustainability. It has evolved into a digital-first ecosystem where commerce, content and community reinforce each other. For the newest generation of fashion consumers, buying preloved fashion online is as natural as scrolling a feed or posting a story. This cultural normalisation is therefore one of the strongest engines behind the sector’s growth.

From stigma to style: changing consumer mindsets

A cultural shift has transformed second-hand from stigmatised to stylish. In the UK, 25% of all fashion transactions are now second-hand,16 showing how entrenched resale has become in everyday wardrobes. Across the US, 48% of younger consumers now say second-hand is the first place they look when shopping for clothes.17 Consumers are drawn by the promise of uniqueness, individuality and authenticity that comes with preloved fashion – qualities often absent from mass-market fast fashion. Influencers and celebrities have reinforced this shift, making thrift hauls, vintage outfits and circular fashion part of the mainstream cultural script. What was once marginal is now aspirational: a badge of creativity, frugality and responsibility all at once.

Regulation as a growth driver

Finally, regulation is beginning to act as a structural driver of resale. The EU generates around 12.6 million tonnes of textile waste annually, yet only 22% is currently collected for reuse or recycling.18 To address this, the EU Strategy for Sustainable and Circular Textiles makes separate collection of textiles mandatory and requires fashion producers to finance take-back and recycling through Extended Producer Responsibility (EPR) schemes.19 France has gone further, banning the destruction of unsold goods and obliging brands to redirect inventory into resale or recycling channels.20 In the US, California passed its first textile EPR law in 2024 (SB 707), which will require producers to join a responsibility organisation and fund collection and recycling starting once regulations take effect, no earlier than 2028, with full compliance required by 2030.21 These measures embed circularity into law, turning resale and reuse from consumer choice into systemic obligation.

In sum, second-hand fashion is thriving because five forces are reinforcing each other: measurable environmental benefits, affordability during economic strain, the convenience and community of digital platforms, a cultural revaluation of preloved style, and regulation that is hardwiring circularity into fashion’s future. These drivers ensure that resale is not a passing fad but a durable and accelerating shift in how fashion is produced, consumed and valued.

Gas announces the appointment of Romolo D’Orazio as General Manager, at a strategic and pivotal moment in the evolution of the Italian brand, long recognized for its strong denim heritage.

A manager with over twenty-five years of international experience in the fashion and lifestyle sectors, D’Orazio brings to Gas a solid and cross-functional vision, developed through the growth, repositioning, and management of brands across fashion, denim, and accessories. He holds a degree in Law from La Sapienza University in Rome, complemented by an MBA from LUISS Guido Carli and a Master in Fashion Management from SDA Bocconi, shaping an integrated approach that combines strategy, management, and the industrial dynamics of the fashion system.

Throughout his career, he has held senior leadership roles within some of Italy’s leading fashion companies, standing out for his expertise in brand positioning, international development, and omnichannel retail strategies. At Itierre S.p.A., he managed internationally renowned brands such as Just Cavalli, Versace Jeans Couture, and D&G, before continuing his career with companies including Swinger International and Miriade S.p.A., contributing to the growth of key brands in the accessories and footwear segments. He also served as General Director at Itierre S.p.A., overseeing brands such as Galliano, Balmain, Fiorucci, Aquascutum, and Costume National.

In 2016, he founded Modaimpresa Srl, a strategic advisory firm supporting both emerging and established brands, collaborating with several companies within the fashion industry. After a period of executive consulting for international companies between 2021 and 2024, he joined Gas Milano 1984 S.p.A. as Business Development Manager in 2024, before taking on the role of General Manager in 2025, with the objective of accelerating the brand’s international expansion and leading its strategic growth.

These experiences now form the foundation of his new role at Gas, where his mission will be to guide the brand into a new phase of growth, following a significant process of consolidation and relaunch.

D’Orazio’s mandate will focus on several key strategic directions: strengthening the retail network through new store openings and the renovation of existing locations, as well as expanding distribution channels to enhance the brand’s visibility across markets. At the same time, a significant expansion of product categories is already underway. Alongside the current menswear and womenswear apparel and footwear lines, Gas is developing new partnerships to launch travelwear and luggage, accessories and small leather goods, underwear, beachwear, childrenswear, and eyewear.

“We aim to continue developing products that strike a strong balance between quality and price, keeping denim at the core of the brand—an area where we want to further strengthen our expertise—while remaining accessible and relevant to a broad audience,” said D’Orazio.

The brand’s communication and product philosophy will remain true to its identity, enhancing its authenticity, heritage, and contemporary appeal, with a constant focus on denim as a distinctive and competitive element.

US video game retailer GameStop made a takeover bid on Sunday to buy eBay for about $55.5 billion in an attempt to turn the online marketplace into a competitor to e-commerce giant Amazon.

Gamestop is offering $125 per share in a combination of stock and cash, a 46 percent premium over the average stock price since it began acquiring shares in eBay on February 4, it said in a release.

"EBay should be worth - and will be worth - a lot more money," GameStop CEO Ryan Cohen said in an interview with the Wall Street Journal published Sunday. "I'm thinking about turning eBay into something worth hundreds of billions of dollars," he said.

"It could be a legit competitor to Amazon." GameStop confirmed it had received a letter of commitment from TD Bank, an American subsidiary of the Canadian TD Bank Group, for approximately $20 billion in financing through a debt issuance.

In the press release, the company also said it had about $9.4 billion in cash reserves as of January 31. It stated it could generate $2 billion in annualized cost reductions within 12 months of the transaction's completion. These cost reductions alone would boost eBay's comparable-store earnings per share from $4.26 to $7.79 in the first year, the release said. But if eBay's management is not receptive to his offer, Cohen told the Journal he will not hesitate to approach shareholders.

EBay's next annual general meeting is scheduled for June, but the deadline for submitting resolutions has passed, the WSJ pointed out. At Friday's close, GameStop's market capitalization reached $11.89 billion, while eBay's stood at $46.21 billion.

The UK retail sector finally emerged from a month-long chill this week, as total like-for-like (LFL) sales jumped by +4.42%. Driven by a shift in weather and a renewed appetite for physical shopping, the results represent a significant turnaround from the -3.65% decline recorded during the same week last year. For the first time in over a month, growth was synchronized across all channels and categories.

The fashion sector played a role in this recovery, with total LFLs increasing by +1.82%. While this growth appears modest against a weak base of +0.80% from last year, the real story lies in the resurgence of the "offline" experience.

Offline (In-Store) triumph: After a run of four consecutive weekly declines, store fashion sales surged by +4.70%. This comeback was fueled by ideal shopping conditions; high pressure across the UK brought dry, calm, and mild weather, coaxing consumers back to traditional shopping hubs. High street footfall, in particular, saw a robust increase of +4.3%, comfortably outpacing retail parks and shopping centres, which both saw slight dips in traffic.

Online (Non-Store) Steady Growth: While the high street stole the spotlight, digital channels maintained their momentum. Non-store fashion sales increased by +3.44%, more than doubling the growth rate seen in the same week in 2025 (+1.28%). Total non-store LFLs across all retail segments rose by +7.48%, indicating that while shoppers were happy to head outside, the convenience of digital browsing remains a permanent fixture of the spring wardrobe refresh.

Ultimately, the week highlights the sector's sensitivity to the British climate. The transition to settled, mild weather provided the perfect backdrop for fashion retailers to clear the hurdles of the past month. With physical stores back in the green and online sales showing steady gains, the fashion industry looks well-positioned to capitalize on the upcoming shift into the summer season.

Just days after the closure of its UK and Ireland store estate, the French operator of Claire’s European business has announced plans to potentially bring the jewellery chain back to the region’s high streets.

Julien Jarjoura, who oversees the company’s 240 stores in Spain, France, Austria, and Portugal, told the Guardian that he was aiming to reopen four to 10 stores a week starting June after receiving backing from the brand’s US owner, Ames Watson.

The entrepreneur has brought on former UK executives of Claire’s to assist with the plan, which intends to retain some of the company’s existing 356 concessions. In terms of standalone locations, Jarjoura said “there will definitely be some brand repositioning”, with store revamps and pricing shifts expected.

He further noted that he would be funding the rollout himself, making the UK business debt free, yet added that positive results were not immediately anticipated. “We need to invest in the business. We are not unrealistic in terms of getting benefits from this company for three to five years.”

Jarjoura was said to be in discussions with administrators at Kroll in regards to acquiring the UK arm of Claire’s earlier this year. His interest came as Claire’s entered its second administration in just a few months, with former owner Modella having only just rescued the company from its financial woes towards the end of 2025.

The retailer had entered similar bankruptcy proceedings in Europe and the US around the same period, with weak consumer confidence, continued cost inflation, and financial flow challenges cited throughout. Jarjoura stepped in to rescue the European arm, while Ames Watson acquired the US business.

Australian sun protection apparel brand Solbari, known for its UPF 50+ clothing, sun hats and accessories, has launched a wholesale business in the US and appointed Grayson Davis as head of sales in the region to lead its retail growth strategy.

In a statement, Melbourne-founded Solbari said the move marks an expansion beyond its direct-to-consumer model into speciality outdoor retail distribution in response to growing demand for certified daily sun-safe apparel across the US.

Solbari already has an established direct-to-consumer presence in the US, with the region accounting for more than 60 percent of its total revenue. The expansion into wholesale will enable the brand “to scale its reach, increase accessibility, and build awareness through physical retail”.

The Australian brand is currently onboarding regional representative agencies across key US territories and engaging outdoor speciality retailers ahead of its initial wholesale rollout beginning May 15. A distribution centre in Long Beach, California, will also support US fulfilment and logistics as the retail business expands.

Alongside the wholesale launch, Solbari has appointed Grayson Davis as US head of sales to lead the development and execution of the company’s wholesale strategy, including building a national network of independent sales representative agencies, securing key retail partnerships, and establishing the brand’s seasonal wholesale cadence.

Davis brings more than two decades of experience, joining Solbari from United Sports Brands and Seirus Innovations, where he led wholesale expansion across outdoor and performance categories and built national retail distribution networks.

Johanna Young, chief executive and founder of Solbari, said: “Wholesale is a major growth driver for Solbari in the US. We’ve built a strong direct-to-consumer business, and expanding into speciality retail allows us to reach more customers in a meaningful way. Grayson brings the experience, relationships and execution mindset we need to build this channel the right way.

“As demand grows for sun protection that fits into everyday wear, this next phase is about scaling access to reliable, high-performance products across the US market.”

Solbari offers technical sun-protective apparel that blocks at least 98 percent of UVA and UVB rays, combining certified UPF 50+ protection and compliance with Australian and US standards.

Saks Global is cutting its corporate headcount by 16 percent amid the continued rollout of a restructuring plan designed to optimise the luxury retailer’s footprint.

Company officials confirmed the news to WWD, which reported that around 640 workers will be impacted, reflecting 4 percent of Saks Global’s total workforce. The layoffs will not involve staff at stores, distribution centres and other facilities.

The company did state that some members of its senior level management are among those affected, however, there would be no changes to the global management team.

“As we position Saks Global for future growth as the premier luxury multibrand retailer, we are focusing our resources to ensure we are a profitable business at the service of our customers, brand partners and other stakeholders,” CEO Goeffroy van Raemdonck said in a statement.

He added that the decision to enact layoffs had been difficult, yet changes were imperative in supporting the “go-forward needs of the business, which will have a smaller operational footprint”.

The move is associated with Saks Global’s Chapter 11 process, which launched on January 13 with a 1.75 billion dollar debtor-in-possession financing commitment.

Since then, van Raemdonck said the team has “successfully executed on a number of strategic actions to prime Saks Global for long-term success” and that “sales and inventory results continue to outperform our internal plans”.

In addition to this, the company has secured committed capital to ensure there is sufficient liquidity to operate through the completion of the restructuring process, which is expected to finalise this summer.

Paris, France – Footwear retailer André, acquired in January, is preparing for a "future expansion phase", according to a court ruling seen by AFP. This decision comes despite a challenging consumer environment and the erosion of its workforce and store portfolio over the years.

According to the takeover bid, André was placed into receivership in April 2025. This was due to a "sluggish" economic climate and the "burden of rising rents". The company had found two potential buyers.

The potential buyers were the Breton fashion group Beaumanoir, owner of Sarenza, which had previously acquired Naf Naf, Jennyfer and La Halle; and Belgian businessman Karim Redjal, who already owned André.

At the end of January, the Paris Commercial Court (TAE) ruled in favour of Redjal. According to the decision obtained by AFP and reviewed on Thursday, he committed to taking on 43 employees, including 33 on permanent contracts. He also agreed to take over seven stores and two "corners".

The court found that Redjal had presented "a bold and ambitious industrial challenge" and praised his knowledge of the sector, as well as his commitment to "the brand he intends to modernise".

The judges detailed that Redjal "plans to refocus on the most profitable retail spaces in order to increase their performance and prepare for a future expansion phase".

The TAE acknowledged that the businessman also proposed "to finance the business with his own funds, which constitutes a further risk following the very significant investments already made by Redjal".

André originally belonged to Vivarte, a former flagship of French textiles. It was first acquired in 2018 by the online retailer Spartoo. Then, in 2020, while in receivership, it was bought by François Feijoo's company 1Monde9. Feijoo himself was a former CEO of the brand.

He had more than halved the number of stores, keeping only around 50 stores out of the then 180 points of sale, and 13 affiliates.

Then, the brand was taken over in 2023, following a second receivership.

A Belgian company, Optakare, led by businessman Karim Redjal, had invested in the brand, saving 119 employment contracts (out of 250) and 21 stores (out of 50).

The US outdoor and lifestyle group Columbia Sportswear Company has reported financial results for the first quarter ended May 1, 2026, exceeding internal guidance for both net sales and profitability. The performance was supported by early wholesale shipments for the spring/summer 2026 season and robust demand across the US and Europe.

Net sales remained relatively flat at 779 million dollars compared to 778.50 million dollars during the same period in 2025. While international markets showed growth, the group faced a decline in the US market. This was attributed to a lower wholesale order book for the SS26 season and a strategic decision made in 2025 to reduce the supply of winter products following US tariff announcements.

Margin pressure and operating performance

Gross margin experienced a slight contraction of 20 basis points, landing at 50.7 percent of net sales. This decline primarily reflected a 310 basis point impact from unmitigated incremental US tariffs. The company sought to counter these costs through mitigation tactics, including targeted price increases.

Operating income for the quarter decreased 10 percent to 42 million dollars, or 5.4 percent of net sales, down from 6 percent in the prior year. Net income reached 34.30 million dollars, or 0.65 dollars per diluted share, compared to 42.20 million dollars in 2025.

Strategic momentum and the Accelerate Growth Strategy

The group continues to implement its Accelerate Growth Strategy, a multi-year initiative designed to attract younger, more active consumers. Central to this is the 'Engineered for Whatever' brand platform, which recently launched via a global campaign across print and social media.

Columbia Sportswear chairman and chief executive officer, Tim Boyle, stated: “I’m encouraged by signs of growing momentum in the U.S., including an expected inflection back to wholesale growth in the second half based on our Fall 2026 order book.” Boyle noted that the Accelerate strategy is gaining traction through innovative products that resonate with the target demographic.

Outlook for the 2026 financial year

Following the first quarter performance, Columbia Sportswear has updated its full year 2026 guidance. The group now expects diluted earnings per share to range between 3.55 dollars and 4 dollars, an increase from the previous estimate of 3.20 dollars to 3.65 dollars.

Full year net sales are projected to increase by 1 percent to 3 percent, reaching between 3.43 billion dollars and 3.50 billion dollars. Operating margin is now forecast to be between 6.7 percent and 7.5 percent.

For the second quarter of 2026, the company anticipates net sales of between 600 million dollars and 610 million dollars. However, it expects a diluted loss per share between 0.46 dollars and 0.37 dollars, reflecting continued pressure from US tariffs and SG&A deleverage.

Madrid – Spanish fashion multinational Adolfo Domínguez has reported its results for the close of its 2025 fiscal year. The period, which ended on February 28, 2026, saw the company complete the year on a positive note for both sales and turnover. The company is currently celebrating its 50th anniversary.

According to the data presented by the company's management to the National Securities Market Commission (CNMV), Adolfo Domínguez closed its last fiscal year of 2025 with total sales revenue of 139.02 million euros (163 million dollars). This figure represents a 1.84 percent increase compared to the 136.50 million euros in turnover from the same period last year. Adolfo Domínguez reports this growth as high as 3.5 percent on a like-for-like basis and at constant exchange rates.

In terms of profitability, the company recorded a net profit of 1.64 million euros. This represents an 80.58 percent increase compared to the 908 thousand euros profit recorded during the same period last year. This performance is particularly positive. The management also highlighted the 24 percent growth in EBITDA, which closed the year at 21 million euros, and the 7 percent increase in gross margin to 82 million euros. This gross margin represents 56 percent of sales, which is “the highest in the last 14 years and three percentage points above the previous year”.

With these figures, “the move towards greater profitability continues,” stated Rubén Martín, chief financial officer of Adolfo Domínguez, in a statement shared by the management. He added that this follows a year in which “we have had a good response from our customers, both in the men's and women's collections, as well as accessories, and a good result in the repositioning of the stores”.

Stagnation of revenue in Europe and a decline in Japan

Delving into the performance throughout 2025 by sales channel, Adolfo Domínguez ended the year with 379 points of sale. This is a net increase of only one store compared to the previous year, following a total of 13 new openings, all outside of Spain. The brand's internationalisation strategy means it now operates the majority of its stores in Europe (182 stores), followed by Mexico (145 stores) and Japan (16 stores). However, the number of stores in other smaller markets (36 stores) is at its lowest since 2020 (39 stores).

The physical retail network, which is growing internationally, remained stable and generated 84.8 percent of Adolfo Domínguez's total sales in 2025, amounting to approximately 117.87 million euros. In contrast, the online channel accounted for 15.2 percent of all sales for the year, totalling around 21.13 million euros (a 6.20 percent increase).

Regarding its performance by market, the company reported a decline in sales in Europe to 99.80 million euros (a 0.65 percent decrease); turnover growth in Mexico to approximately 26.13 million euros (a 4.60 percent increase); a sales drop in Japan to around 4.73 million euros (a 1 percent decrease); and outstanding sales growth in other markets, reaching about 8.34 million euros in 2025 (a 32.80 percent increase). The company maintains that on a like-for-like basis and at constant exchange rates, there was widespread growth in Mexico (9.4 percent), Japan (5.6 percent), Europe (1.1 percent), and the smaller markets combined (17.5 percent).

Outlook for 2026

Looking ahead to the new 2026 financial year, Adolfo Domínguez—which has called a General Shareholders' Meeting for the upcoming June 2—has stated that “the evolution shown by Adolfo Domínguez's main business indicators leads the company to expect continued progressive growth in sales and profitability in the next 2026/27 financial year”. They added that the main priorities for these estimates/objectives will be to “offer the customer an omnichannel shopping experience, as well as to further develop the process optimisation and improvement lines already initiated in previous years, which would contribute to the improvement of the company's operating result”.

Oil markets have surged to multi-year highs as tensions between the US and Iran intensify, with Brent crude climbing above 120 dollars per barrel. According to Bloomberg, prices briefly spiked by more than 7 percent to over 126 dollars amid fears of prolonged disruption in the Strait of Hormuz, one of the world’s most critical oil transit routes.

For the fashion, retail and manufacturing sectors, the implications are immediate and structural.

Energy remains one of the most significant hidden inputs in fashion. From fibre production to dyeing, finishing, and global logistics, higher oil prices translate directly into increased operating costs.

Synthetic fibres, such as polyester, nylon and acrylic, are particularly exposed. Polyester alone accounts for more than 50 percent of global fibre production, according to Textile Exchange, and is derived from petrochemicals. As oil prices rise, so too does the cost of these materials, placing pressure on manufacturers already operating on tight margins.

At the same time, transport costs are expected to increase sharply. Ocean freight, air cargo and last-mile delivery are all fuel-dependent. A sustained period of elevated oil prices could reverse the relative stability seen in shipping rates over the past year, particularly for long-haul routes connecting Asia and Europe or the US.

Margin pressure for brands and retailers

For brands, the challenge lies in absorbing or passing on these cost increases. After several seasons of inflation-driven price hikes, consumer appetite for further increases is limited.

Retailers, especially in the mid-market, may find themselves squeezed between rising input costs and price-sensitive customers. Luxury brands, while more insulated, are not immune. Higher production and logistics costs can erode margins or force adjustments in sourcing strategies.

The timing is particularly sensitive. The industry is already navigating slower demand in key markets and a recalibration of inventory levels following post-pandemic volatility.

Supply chain disruption risks

Beyond pricing, the geopolitical context introduces a second layer of risk: disruption.

The Strait of Hormuz handles roughly a fifth of global oil supply. Any prolonged closure or instability could impact not only energy markets but also broader shipping routes and insurance costs. Bloomberg reports that traders are already pricing in the possibility of extended disruption as diplomatic efforts stall and military escalation remains on the table.

For fashion companies reliant on just-in-time production and tightly coordinated global supply chains, even minor delays can have outsized effects on delivery schedules and seasonal collections.

Acceleration of material transition?

Paradoxically, sustained high oil prices could act as a catalyst for change.

As fossil-based inputs become more expensive, the relative attractiveness of alternative materials, recycled fibres, bio-based textiles and regenerative inputs may increase. However, scalability remains a constraint, and many alternatives are not yet cost-competitive at volume.

Still, the current environment reinforces a broader industry shift: reducing dependency on virgin petrochemical materials is no longer just an environmental imperative, but an economic one.

Strategic recalibration underway

In the short term, brands and manufacturers are likely to:

• Reassess sourcing strategies, potentially favouring regional production
• Increase focus on inventory discipline to mitigate cost volatility
• Lock in fabric and production costs where possible

Longer term, the industry may see renewed investment in supply chain resilience and material innovation.

Outlook

Bloomberg analysts suggest that further escalation remains likely, with oil markets reacting accordingly. As long as uncertainty persists around the Strait of Hormuz and US-Iran relations, price volatility is expected to continue.

For fashion, the message is clear: energy is no longer a background cost. It is a strategic variable, one that will shape pricing, sourcing and material choices in the seasons ahead.

Consolidated turnover for BasicNet (K-Way, Woolrich, Superga) grew by 35.1 percent in the first quarter. Aggregate sales of products bearing the group's brands, developed worldwide by the network, amounted to 299.1 million euros. This compares to 268.8 million euros in the first three months of the previous financial year, an increase of 11.3 percent.

Specifically, sales from commercial and direct licensees totalled 241.8 million euros, up 19.0 percent from 203.2 million euros on March 31, 2025. Sales from manufacturing licensees amounted to 57.3 million euros, a decrease of 12.6 percent from 65.6 million euros on March 31, 2025.

The company's board of directors met today under the chairmanship of Marco Boglione.

Sales from commercial and direct licensees saw strong growth in Europe, up 25.6 percent from 160.3 million on March 31, 2025, to 201.2 million on March 31, 2026. Performance in Asia and Oceania was also positive, with a 4.7 percent increase. The Middle East and Africa, and the Americas, experienced a slowdown of 5.5 percent and 18.1 percent respectively, according to a note from the Turin-based company.

Consolidated turnover was 132.8 million euros, a 35.1 percent increase from 98.3 million euros on March 31, 2025. This figure includes direct sales of 118.8 million euros, up 45.0 percent from 81.9 million euros on March 31, 2025. The growth also benefits from the contribution of the Woolrich and Sundek brands, which were acquired in December 2025. Royalties from commercial and manufacturing licensees amounted to 13.8 million euros, a 14.2 percent decrease from 16.1 million euros in the first quarter of 2025. Management specified that part of this reduction is due to the start of direct distribution in some markets. These markets were previously managed by third-party licensees in the first quarter of 2025, leading to a reclassification of some revenue from royalties to direct sales.

EBITDA was 15.4 million euros, an increase of 21.1 percent compared to the pro-forma figure for the first quarter of 2025. EBIT amounted to 5.6 million euros, compared to a pro-forma EBIT of 7.6 million euros for the first three months of 2025.

The net financial position with banks is -102.3 million euros, compared to -74.4 million euros on December 31, 2025.

Canadian apparel manufacturer Gildan Activewear Inc. has reported record net sales for the first quarter ended March 29, 2026. The results represent the first full fiscal period following the consolidation of HanesBrands into the group’s financial statements.

Net sales from continuing operations reached 1.17 billion dollars, representing a 63.8 percent increase compared to the prior year. This performance aligned with the company’s previous guidance of approximately 1.15 billion dollars. The substantial year-over-year rise was primarily attributed to the acquisition of HanesBrands, though it was partially offset by strategic integration initiatives aimed at optimizing manufacturing. When compared to proforma net sales of 1.29 billion dollars, revenue saw a decline.

Management attributed this to lower volumes resulting from a proactive reduction of inventory across customer channels, a move intended to streamline the supply chain during the integration process.

Shift in sales distribution and brand performance

The company has transitioned to disaggregating net sales into two primary channels: wholesale and retail. Wholesale sales were 552 million dollars, down 11.9 percent from the previous year. This was influenced by the aforementioned inventory reductions and the non-recurrence of preemptive buying that occurred ahead of tariffs in the same period last year.

Retail sales rose to 614 million dollars from 85 million dollars in the prior year. This shift reflects the inclusion of HanesBrands and higher selling prices, with key underwear brands gaining market share during the quarter. Profitability and operating marginsGildan reported an operating loss of one million dollars for the quarter, compared to an income of 130 million dollars in the previous year. However, adjusted operating income reached 167 million dollars, an increase of 31 million dollars year-over-year.

Integration progress and synergy targets

The integration of HanesBrands is progressing as scheduled. Gildan president and chief executive officer, Glenn J. Chamandy, noted that the company is on pace to realize approximately 100 million dollars in synergies in 2026. The long-term objective remains an annual run-rate of 250 million dollars in cost synergies over the next three years.

Despite an uncertain macroeconomic environment, Gildan has maintained its full-year 2026 guidance:Revenue is projected between 6 billion dollars and 6.2 billion dollars. Full-year adjusted operating margin is expected to be approximately 20 percent. Adjusted diluted earnings per share (EPS) are forecast in the range of 4.20 dollars to 4.40 dollars.

For the second quarter of 2026, the company expects net sales of approximately 1.6 billion dollars. The board of directors also declared a quarterly cash dividend of 0.249 dollars per share, payable on June 15, 2026.

Chinese luxury fashion firm Lanvin Group announced its financial results for the full-year 2025 (FY2025) on April 30, 2026, reporting revenue of 240 million euros. This represents an 18% decrease compared to the previous year, a period the company described as a challenging global luxury market environment.

The performance reflected macroeconomic headwinds alongside deliberate transformation initiatives. However, the group noted that performance improved sequentially in the second half of the year, attributed to operational adjustments and brand repositioning. Direct-to-consumer (D2C) remained the primary channel for the company, accounting for 68% of total revenue.

Strategic progress amidst market headwinds

Lanvin Group chairman, Zhen Huang, stated that 2025 was a year of disciplined execution. Huang noted that despite the challenging environment, the group continued to advance transformation initiatives and streamline operations. The chairman expressed confidence in the ability of the group to deliver sustainable growth following improved momentum in the second half of the year.

The group focused on portfolio optimisation during the period, which included selective store closures and tighter cost controls. These measures supported an improvement in adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA), which moved to negative 90 million euros from negative 94 million euros in 2024. The carve-out of Italian menswear brand Caruso was also cited as a move to sharpen strategic focus.

Performance by brand segment

Flagship French label Lanvin saw revenue decline by 30 percent to 58 million euros. The group attributed this to ongoing brand repositioning and retail network optimisation. Despite the drop, gross margin remained at 58 percent, and the company noted improved market reception in the second half under the creative direction of Peter Copping.

Austrian skinwear brand Wolford reported a 14 percent decline in revenue to 76 million euros. While the first half was impacted by logistics disruptions, the second half showed improvement due to restored capacity. Wholesale for the brand grew 19 percent year-over-year (YoY). The appointment of Marco Pozzo as chief executive officer (CEO) was intended to reinforce leadership during this recovery phase.

Italian footwear label Sergio Rossi experienced a 30 percent revenue decline to 30 million euros, reflecting softness in D2C and wholesale. The brand is currently transitioning toward an asset-light model. Meanwhile, US luxury house St. John remained the most stable performer, with revenue declining 1 percent to 78 million euros. In North America, the brand saw growth in wholesale and e-commerce, up 14 percent and 25 percent respectively in reporting currency.

Leadership and 2026 outlook

The group strengthened its executive ranks with several key appointments during the period. These included Barbara Werschine as deputy CEO of Lanvin; Pozzo as CEO of Wolford; and Mandy West as CEO of St. John. These hires are intended to enhance execution capabilities across the portfolio.

Looking ahead to 2026, Lanvin Group expects to largely complete its current transformation program. The group aims to build on the progress made in the latter half of 2025, supported by renewed creative momentum and a more focused operating model. While market uncertainty persists, the group maintains that actions taken over the past year have established a firmer foundation for long-term growth.

Prada Group, which owns the brands Prada, Miu Miu, Church's, Car Shoe, Versace, Marchesi 1824, and Luna Rossa, has achieved positive results in the first quarter of 2026. Net revenues reached 1.43 billion euros, a 14 percent increase year-over-year (YoY) (+3 percent organic). Retail sales amounted to 1.25 billion euros, up 10 percent YoY (+1 percent organic). This was on a double-digit comparison basis of +13 percent in the first quarter of 2025 and was driven by full-price sales.

“We are operating in an extremely complex environment, characterised by uncertainty and rapidly evolving geopolitical dynamics. In this scenario, consistency and authenticity remain the cornerstones of our brands' creativity and success. We also continuously search for agility and flexibility in our processes, thanks to the strength of our direct industrial structure,” Patrizio Bertelli, chairman and executive director of Prada Group, emphasised in a note.

Regarding the individual brands, Prada recorded a solid quarter, in line with the fourth quarter of 2025. The positive and further improving trend in full-price sales was partially offset by the continued reduction in the contribution from outlets.

Miu Miu continues on its growth path, with retail sales up by +2 percent. This is despite a challenging comparison base of +60 percent in the first quarter of 2025 and a more pronounced negative impact from the conflict in the Middle East. Versace recorded net revenues of 143 million euros, in line with expectations.

Prada's product offering remained balanced, energised by creative dynamism in leather goods

The retail channel recorded growth of +10 percent YoY, +1 percent organic, against a challenging comparison base (+13 percent). Prada showed solidity with growth of +0.4 percent, in line with the fourth quarter of 2025. This resulted from further improvements in the Americas and Asia-Pacific, particularly in China, Hong Kong, and Macao. The product offering remained balanced, energised by creative dynamism in leather goods across the entire price range and by the launch of the new Prada Re-Nylon for Sea Beyond capsule collection.

Miu Miu's desirability remained high, supported by strong and distinctive positioning

Miu Miu confirmed a positive growth trajectory of +2.4 percent, despite the year's most difficult comparison base (+60 percent) and a greater impact from the conflict in the Middle East. The Americas continued to record significant growth, and Asia-Pacific also maintained a very solid trend. The positive results in these regions were partly offset by a slowdown in Europe, especially in terms of tourism-related demand, and in the Middle East. Desirability remained high, supported by a strong and distinctive positioning.

Versace benefited from progressive repositioning towards full-price sales

Versace recorded a performance in line with expectations, benefiting from the progressive repositioning towards full-price sales and from greater depth and quality in its offering. The strategic focus remains on retail execution and clienteling activities, in parallel with the progress of the integration plan at the organisational and process level.

Considering retail sales by geographical area, Asia-Pacific continued to show solidity, up 13 percent YoY and 5 percent organically. Miu Miu maintained sustained growth. Prada reported further improvement, supported by rigorous execution and driven by positive trends in China, Hong Kong, Macau, and Korea.

Europe grew by +2 percent YoY, contracting by 6 percent on an organic basis. This was against challenging multi-year comparison bases, including in Q1-25 (+14 percent). The slowdown was more pronounced in spending related to tourist flows, while local demand reported a more modest contraction.

The Americas maintained a strong growth trajectory, up 34 percent on an annual basis and 15 percent organically, supported by dynamic local demand. Both Prada and Miu Miu continued to benefit from the organisational strengthening and investments made in previous quarters.

Japan showed solidity, growing by 1 percent YoY and contracting by 2 percent on an organic basis, with stable local consumption against a very positive comparison base in Q1-25. The Middle East recorded a 22 percent contraction in the quarter, both at constant exchange rates and on an organic basis. This was due to the impact of the conflict on local demand and tourist flows.