France's ambitious ‘anti-fast-fashion law’ (Loi Violland) is in limbo. Although the French Senate approved the law in 2025, the European Commission (EC), which had already raised objections last September, vetoed it again in April. Brussels argues that the law disrupts the principles of the European single market and is discriminatory, as stated in public file 2025/0336 on the EC's website. France must suspend the adoption of the law until at least the end of 2026.

E-commerce directive and DSA

The main stumbling block for the Commission is the conflict with the e-commerce directive and the Digital Services Act (DSA). The e-commerce directive (2000/31/EC) operates on the country-of-origin principle. This means that service providers, including e-commerce sites, are only subject to the regulations of the member state where they are established, not those of the country where the consumer resides. By attempting to ban advertisements from companies like Shein (whose headquarters are in Ireland), France is imposing its own national rules on a business that officially falls under Irish law.

The DSA is a set of European regulations designed to combat illegal online content uniformly across the EU to protect consumers. France proposes a specific approach where e-commerce sites must display additional information next to the price, including a warning about the fast-fashion nature and the origin of the products. The Commission states that the DSA was created to reduce administrative burdens and fears that more member states will introduce similar national rules.

Finally, the European Commission has reservations about the planned penalty for brands like Shein, which would increase from 5 to 10 euros per garment by 2030. The opposition specifically targets the tax on small parcels (‘les petits colis’), which has been added as an extra component to the law. Brussels fears this French levy will interfere with the planned EU-wide customs reforms of 2028.

Future of the ‘Loi Violland’

To save the law, environmental organisation Refashion was tasked with formulating objective criteria for ultra-fast fashion based on production volumes and sustainability efforts. The yet-to-be-published outcome of this research is crucial for the Commission's next steps.

The future of the ‘Loi Violland’ now lies with a conciliation committee (CMP), which must reconcile French ambitions with the demands from Brussels. It is likely that components such as the advertising ban and the tax on small parcels will have to be scrapped to gain European approval. The fashion sector remains in uncertainty for now, while the political ‘telenovela’ – as the battle on LinkedIn is now being called – between Paris and Brussels continues.

“This law needs approval from Brussels,” states Baptiste Carriere-Pradal, an expert at 2B Policy, on LinkedIn. He sees opportunities for France to amend the original bill to meet the EC's requirements. For instance, the system of penalising 'bad' producers and rewarding 'good' ones could be removed. “For now, however, France and the European Commission are not on the same page.”

Zalando is consolidating its partner models and, in line with this, is discontinuing its Connected Retail programme.

The Berlin-based e-commerce company confirmed the move to FashionUnited, following an initial report by trade publication Schuhkurier. The Connected Retail technology is set to be discontinued by June 30, 2027.

In a statement provided to FashionUnited, the company said it wants to offer its partners “a holistic experience” and access to its “most advanced technologies”. It is therefore consolidating its partner models. The company is inviting retailers and brands currently connected to Zalando via the Connected Retail programme to switch to the other programme.

“We are not saying goodbye to brick and mortar stores; we are simply updating the technology they use to connect with us. This move optimises operations, provides enhanced data insights and allows partners to continue fulfilling orders directly from their stores, while scaling their business across our 27 European markets,” the Berlin-based company stated.

Zalando adjusts fees

The fee structure will also be adjusted as part of this change. From September 2026, the same standard marketplace service fees will apply to all partners. To support partners through this transition, Zalando is offering retailers a fee reduction of two percentage points until the end of 2027. Additionally, all partners who “switch early” will receive a further reduction of one percentage point for six months.

Partners who wish to continue working with Zalando must agree to this consolidated fee structure by May 15. Otherwise, the partnership will be terminated “amicably” by the end of August.

Canton - In the heat of a vast wholesale market in southern China, surrounded by clothing and footwear, traders are hoping that Donald Trump's announced visit will ease the American tariffs penalising their exports.

Manufacturers and factories in Guangdong province, the country's manufacturing heartland, have borne the full brunt of the White House occupant's customs duties in recent years.

The global trade war launched by Trump in 2025 after his return to power had resulted in exorbitant surcharges on certain Chinese products of up to 145 percent.

A one-year truce on most tariffs was agreed in October between the American president and his Chinese counterpart Xi Jinping. However, for sellers at the Canton market, orders have dried up.

"It's quite noticeable. American customers have almost disappeared," says Zhou Hua, sales manager at "1988", a jeans manufacturer.

Guangdong province accounted for approximately one fifth of Chinese foreign trade last year, totalling 9,490 billion yuan, according to Chinese Customs.

The White House announced that Trump would travel to China on May 14 and 15 after a postponement of several weeks due to the war in the Middle East. Beijing has not confirmed these dates.

Zhou hopes this visit will lead to a reduction in customs duties and revive demand for his jeans.

The United States accounts for only around 10 percent of exports from "1988", which sells primarily in China and elsewhere worldwide. Yet they remain a fashion hub and therefore a strategic market, where being present and visible can lead to new contracts.

"We don't want to put all our eggs in one basket," explains Zhou.

The US Supreme Court overturned a large portion of the global tariffs decreed by Trump in February.

He subsequently imposed a new universal 10 percent surcharge, valid for 150 days, which also applies to Chinese products.

Hopes for peace

According to Guo Tao, the owner of "1988", Trump's visit will help "break the ice".

"When two countries engage in a tariff war, everyone loses. There are no winners," he says.

He is also concerned about rising raw material costs, fuelled by the war in the Middle East.

"As traders, all we want is a prosperous economy, a stable country and world peace."

In the aisles of the wholesale market, Chinese and foreign buyers haggle. Nearby, stand managers promote their products live on the internet in front of their smartphone screens.

A handbag seller, Ms Zhuang, explains that her small shop is not directly affected by American tariffs. She "clearly" feels the repercussions, however, as Chinese customers are more budget-conscious.

"As for my expectations" regarding the American president's visit, "I have none," she states bluntly, considering Trump "untrustworthy".

In another Canton wholesale market, pink streamers and disco balls hang from the ceiling of Wen Linpeng's shop, which sells coloured soaps, perfumes and makeup products.

His business is not focused on the United States, yet he hopes Trump's trip will foster cooperation between the two countries.

China will welcome the American president with open arms if he is "truly sincere", he predicts.

"If he's not friendly, if he demands concessions from China or forces our hand on something, we'll give him a taste of his own medicine," he warns.

"But if he's willing to cooperate, we'll be delighted to work with him."

Salesforce is the heart of modern customer relationship management.
FIRE is the operational engine of wholesale sales.

Together, they are not two systems.
They form one integrated revenue architecture.

Many fashion brands successfully use Salesforce as their CRM.
Accounts are structured.
Opportunities are tracked.
Forecasts are transparent.
Customer histories are documented.

But in wholesale, CRM alone is not enough.

What is missing is operational sales execution:
Preorder.
Order management.
Reorder.
Digital showroom.
Sell-out intelligence.

This is where FIRE works seamlessly with Salesforce.

Learn more about the integration:
https://www.fire-digital.com/en/products/products/b2b-portal

What Is the Right B2B Portal for Salesforce?

Many companies ask:
What is the most suitable B2B portal for Salesforce?

Salesforce is a powerful CRM system.
But Salesforce is not a specialised wholesale B2B portal designed for:

• Digital collection presentation
• Structured preorder processes
• Variant and size matrix logic
• Wholesale order workflows
• Intelligent reorder management
• Sell-out integration

A suitable B2B portal for Salesforce must integrate CRM data while enabling real sales execution.

FIRE fulfils exactly this role.
FIRE does not operate beside Salesforce.
FIRE operates with Salesforce.

Salesforce Manages Relationships. FIRE Manages Revenue.

Salesforce structures:

• Leads
• Accounts
• Opportunities
• Pipeline
• Forecasts
• Activities

FIRE structures:

• Collections
• Assortments
• Preorder workflows
• Order execution
• Reorder logic
• Sell-out performance

Salesforce knows which account has potential.
FIRE converts that potential into measurable revenue.
Only together do they create a complete wholesale sales process.

A Closed Revenue Loop

With Salesforce + FIRE, the process becomes:
Lead in Salesforce
Opportunity
→ Transfer to FIRE
→ Digital collection presentation
→ Structured preorder
→ Order creation
→ Reorder intelligence
→ Sell-out feedback
→ CRM optimisation

Pipeline meets performance.
Forecast meets reality.
CRM and operational sales execution work synchronously.

Native Integration – No Parallel Data Worlds

Salesforce remains the single source of truth for:

• Accounts
• Contacts
• Activities
• Opportunity status

ERP systems remain the single source of truth for:

• Pricing
• Availability
• Inventory
• Conditions

FIRE integrates via configurable middleware and synchronises:

• Customer master data
• Organisational structures
• Forecast data
• Order status
• Performance indicators

No shadow master data.
No double maintenance.
No disconnected B2B systems.

FIRE activates Salesforce.
It does not replace it.

Why Generic B2B Portals Are Not Enough for Salesforce

Most standard B2B portals are transaction-driven.
Wholesale is sales-driven.

Generic portals are:

• Catalogue-based
• E-commerce-focused
• Not built for preorder cycles
• Not optimised for variant logic
• Not structured around seasonal collections

Wholesale requires:

• Emotional collection storytelling
• Structured preorder conversations
• Intelligent reorder management
• Sell-out-based steering

FIRE was built specifically for this wholesale reality.

Not as a shop.
But as a sales system.

The Wholesale Memory Engine™

FIRE does not only capture orders.
FIRE structures the entire customer-level sales behaviour:

• Presented styles
• Clicked variants
• Selected products
• Rejected items
• Reorder patterns
• Sell-out dynamics
• Decision cycles

This creates structured behavioural data.

That data enables:

• Predictive forecasting
• Intelligent reorder recommendations
• Data-driven account prioritisation
• AI-supported assortment optimisation
• Early revenue risk detection

FIRE makes Salesforce AI-ready in operational wholesale.

Real Example: Salesforce + FIRE in Practice

An international fashion brand had been using Salesforce for years.
CRM processes were structured.

But wholesale execution was fragmented:

• Collection presentations in PowerPoint
• Preorders in Excel
• Reorders via email
• Manual performance reporting

Pipeline and actual order performance diverged.

After implementing FIRE:

• Opportunities flowed directly into structured preorder workflows
• Sales teams worked in a digital showroom
• Reorder suggestions were based on real sell-out data
• Performance automatically flowed back into Salesforce

Salesforce remained the CRM.
FIRE became the operational revenue engine.

Measurable Business Impact

Within 12 months:

Business Impact

• +8–12% higher preorder conversion
• +10% improved reorder rate
• –30% reduction in manual coordination
• Faster decision-making cycles

Strategic Impact

• Significantly improved forecast accuracy
• Full transparency between pipeline and performance
• Structured behavioural customer data
• AI-ready sales architecture

CRM evolved from reporting tool to active revenue steering system.

Strategic Urgency: Sales Data Is Created Only Once

Wholesale sales data is generated in the moment of interaction.

If preorder and reorder processes are not structured:

• Behavioural data is lost
• AI potential remains unused
• Forecasting remains subjective
• Competitive advantage erodes

This data cannot be reconstructed retroactively.
Every season without a structured sales layer means lost intelligence.

Salesforce captures relationship data.
FIRE captures sales behaviour.
Together, they build a learning organisation.

Scalable Beyond Fashion

Although FIRE originated in fashion wholesale, its architecture applies to any industry with:

• Complex assortments
• Variant logic
• Seasonal sales cycles
• Reorder dynamics
• Distribution networks

Such as:

• Consumer goods
• Footwear
• Lifestyle brands
• Beauty
• Home & interior
• Technical B2B manufacturers
• Industrial distributors

The need is not defined by industry.
It is defined by sales complexity.

Executive Summary: The 5 Strategic Advantages

1. Salesforce evolves from CRM to revenue system.
2. Preorder and reorder processes become structured instead of improvised.
3. Forecasts are based on real performance, not pipeline assumptions.
4. AI operates inside the sales process, not only in reporting.
5. Wholesale digitalisation becomes independent of CRM or ERP transformation.

FAQ – Salesforce B2B Portal for Wholesale

Is Salesforce a complete B2B portal for wholesale sales?
No. Salesforce is primarily a customer relationship management system. It manages leads, accounts and opportunities, but it is not designed to run structured wholesale sales workflows such as digital showrooms, preorder processes or reorder management.

Why do companies using Salesforce need a wholesale B2B portal?
Companies often use Salesforce to manage pipeline and customer relationships. However, wholesale sales execution requires specialised capabilities such as collection presentation, variant selection, preorder workflows and order creation. A dedicated B2B portal complements Salesforce with these operational sales functions.

How does FIRE integrate with Salesforce?
FIRE connects to Salesforce through middleware-based integration. Customer data, opportunities and performance indicators are synchronised between systems, allowing sales teams to manage relationships in Salesforce and execute wholesale sales processes in FIRE.

What advantages does a Salesforce and B2B portal integration provide?
When Salesforce and a wholesale sales platform work together, pipeline management and order execution become connected. Opportunities can move directly into structured preorder workflows and real sales performance data flows back into the CRM.

Can FIRE work alongside existing Salesforce implementations?
Yes. FIRE is designed to complement Salesforce without replacing it. Salesforce remains the central CRM system, while FIRE operates as the operational wholesale sales platform connected to it.

Does FIRE support AI-driven wholesale sales insights?
Yes. FIRE captures behavioural sales data such as product interactions, assortment decisions and reorder patterns. This structured dataset can support AI-driven forecasting, demand analysis and sales optimisation.

Conclusion

Salesforce alone is CRM.
FIRE alone is wholesale execution.
Together, they form a revenue system.

CRM meets operational intelligence.
Pipeline meets performance.
Forecast meets reality.

Salesforce + FIRE work as one.
And transform customer relationships into measurable growth.

About FIRE

FIRE is the leading wholesale sales, preorder, reorder and B2B platform for fashion brands and other B2B-driven industries.

FIRE was built as a wholesale sales layer between CRM, ERP and market execution.
It combines digital showroom presentation, structured preorder and reorder workflows, performance analytics and AI-powered recommendations into one integrated platform.

Middleware-based.
Upgrade-safe.
No data replication.
AI-ready.

Learn more:
https://www.fire-digital.com

EssilorLuxottica on Wednesday announced that consolidated revenue for the first quarter of 2026 reached 7,127 million euros, representing a year-on-year increase of 10.8 percent at constant exchange rates compared to 6,848 million euros in the first quarter of 2025.

Revenue grew 4.1 percent at current exchange rates.

Professional Solutions recorded revenue of 3,362 million euros, up 10.8 percent compared to the first quarter of 2025, while Direct to Consumer recorded revenue of Euro 3,764 million, up 10.7 percent.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica, commented: "With the third consecutive quarter of double-digit growth, we once again demonstrate the strength and relevance of our strategy and our ability to deliver against it. We continued to drive robust momentum across all regions and businesses, driven by the enduring solidity of our vision care and eyewear activities and a steady pipeline of innovation."

Looking forward, the company said that over the next five years, it is planning to deliver a solid growth of its total revenue and a broadly aligned growth of the adjusted operating profit.

UK online retailer Asos has announced its interim results for the 26 weeks to March 1, 2026, revealing a 14 percent drop in first-half revenue to 1.12 billion pounds and a 137.9 million pounds statutory loss before tax despite a significant 51 percent increase in adjusted EBITDA.

The report highlights a period of structural recalibration, where improved profit margins and customer acquisition strategies have begun to offset a decline in overall gross merchandise value (GMV).

Resilience against external pressures and outlook

The group faced 7 million pounds in costs related to the International Emergency Economic Powers Act (IEEPA) tariffs in the US. Despite this, management noted that swift mitigation strategies protected service levels in the region. Asos has initiated a process to pursue refund claims regarding these tariffs.

Operational agility was also tested by the conflict in the Middle East. The group utilised increased near-shore supply and a flexible logistics network to mitigate inflationary impacts and supply chain disruptions.

The group has maintained its FY26 guidance, expecting AEBITDA between 150 million pounds and 180 million pounds. Gross margin is projected to improve by at least 100 basis points, reaching a range of 48 percent to 50 percent. Management indicated that current trading in the third quarter (Q3) shows further sequential improvement. The womenswear business has entered positive YoY growth, and recent collaborations, such as the third drop with German sportswear brand Adidas, have delivered record performance.

Asos GMV declines by 9 percent

The group reported a 9 percent year-over-year (YoY) decline in GMV, though underlying data suggests a recovery is underway. The UK market outperformed the broader group with a 5 percent decline in GMV YoY, while the womenswear division saw its GMV growth rate improve by approximately 10 percentage points compared to the second half of the 2025 financial year (FY25).

Adjusted gross margin rose by 330 basis points YoY, marking eight consecutive quarters of improvement. Additionally, profit per order increased by 30 percent YoY, driven by more rigorous cost management and a transparent returns policy that improved the underlying returns rate by 160 basis points.

For the first time since September 2021, Asos recorded positive growth in new customers. In March 2026, new customer acquisition rose by 9 percent for the group. In the UK specifically, new customers increased by approximately 10 percent YoY. The customer database has also shown signs of stabilisation, with churn reducing by 150 basis points during the first half (H1).

The European textile and clothing industry contracted for the third consecutive year in the 2025 financial year, according to the annual report from industry association Euratex. The report documents a continued decline in production, employment and confidence within the sector.

The report shows that production volumes fell further in 2025. Textile production decreased by 1.6 percent, while clothing production showed a sharper decline of 4.5 percent compared to the previous year. In the fourth quarter, sales stabilised somewhat compared to the third quarter. However, on a year-over-year basis, there was still a decline of 1.1 percent for textiles and 1.9 percent for clothing. The largest declines in textile production were recorded in Spain at 17 percent; Croatia at 8.3 percent; and Germany at 7 percent.

Imports decrease as trade deficit narrows

In international trade, the European Union's trade deficit decreased, meaning the gap between imports and exports narrowed. In the fourth quarter, imports from non-EU countries fell by 8.1 percent in value. This was linked to lower energy prices and weak domestic demand. Imports of textiles and clothing from outside the EU fell by 11 percent and 7.2 percent respectively, between October and December.

Employment shrinks amid national differences

The downward trend also continues in employment. In the fourth quarter of 2025, the number of jobs in the textile sector fell by 4.8 percent and in the clothing sector by 1 percent year-over-year. Compared to the pre-pandemic period, employment has decreased by 14 percent in textiles and 16 percent in clothing. According to Euratex, factories in Europe are closing weekly.

The development varies by country. In the clothing sector, employment increased in Spain by 28 percent; the Czech Republic by 11 percent; and Denmark by 6 percent. Meanwhile, countries including Croatia, Poland and Lithuania saw declines.

Confidence falls due to lack of new orders

Confidence within the sector remains low. In March 2026, the confidence indicator fell by 2.7 points in the textile sector and by 0.9 points in the clothing sector compared to the previous month. According to Euratex, companies have too few new orders and the production outlook is worsening. The organisation is calling on the European Commission and member states to take measures before the end of 2026, including lowering energy costs and reducing regulatory pressure.

The Norwegian company Helly Hansen has relocated its Southern European headquarters to the centre of Barcelona, establishing a new base on Paseo de Gracia. Previously, the company operated from Sant Quirze del Vallès, on the city's outskirts.

According to a report by the trade publication Turiski, the move is part of a new phase of consolidation in Southern Europe. This relocation responds to the growth recorded in the region in recent years, where it has reportedly doubled its profits. It is also part of its expansion strategy in the Mediterranean and Spanish-speaking markets, under the ownership of the US group Kontoor Brands since 2025.

The new offices will centralise the marketing, sales, customer operations and retail departments for the Spanish, French, Italian, Portuguese and Andorran markets. Through this reorganisation, the company aims to improve internal coordination and strengthen relationships with its commercial partners in Southern Europe.

Carlos Bravo, the regional director, highlighted in a conversation with the trade publication that this new headquarters represents a boost to its commitment to the multi-brand distribution network. It also supports the company's expansion in the Mediterranean region.

The new space also incorporates a showroom for presenting the Helly Hansen, HH Workwear and Musto collections, with the capacity to host more than 150 clients annually. The company was acquired by Kontoor Brands in a deal valued at 900 million dollars in 2025. It has successfully boosted the US group's turnover since the acquisition and now aims to further strengthen its position as a technical leader in the sailing and mountain sectors.

Under Armour has joined the US Cotton Trust Protocol, taking a step forward in efforts to improve transparency and responsibility in cotton sourcing.

Through the membership, the sportswear brand will gain access to verified, field-level data on key environmental metrics, including water use, greenhouse gas emissions, soil health and land use. The move supports the brand’s wider sustainability strategy and its commitment to sourcing materials more responsibly.

As part of the partnership, Under Armour will begin piloting cotton sourced through the programme later this year. The material will be used in graphic T-shirts within its Freedom collection.

Aaron Driggers, director of sustainability at Under Armour, said: “Where and how our cotton is grown matters. We are thrilled to join the US Cotton Trust Protocol and strengthen our ability to build better products for athletes while advancing transparency across our supply chain.”

The Trust Protocol is a voluntary programme that provides measurable and verifiable data on US cotton production, helping brands track progress and validate improvements across sustainability indicators.

Gary Adams, president of the organisation, said the partnership aligns with Under Armour’s focus on performance and innovation, while also supporting more responsible sourcing practices across the industry.

US-based smart eyewear developer Innovative Eyewear has announced preliminary unaudited sales results for the first quarter ended March 31, 2026. The company, which manufactures products under the Lucyd, Reebok, Nautica, and Eddie Bauer brands, achieved preliminary first quarter (Q1) sales of approximately 0.81 million dollars. This figure represents an increase of 78 percent compared to Q1 2025, marking the highest first-quarter revenue in the history of the company.

This performance extends the streak of year-over-year (YoY) quarterly revenue growth for the company to 11 consecutive quarters. The growth rate for Q1 2026 also indicates an acceleration from the full-year 2025 growth rate of approximately 63 percent.

Innovative Eyewear chief executive officer Harrison Gross stated that the results represent the strongest start to any year in the history of the company. “Whilst these results remain subject to audit, we are highly encouraged by the preliminary Q1 2026 sales performance and by the commercial pipeline we are seeing in our optical, safety, and sporting goods channels,” Gross said. He highlighted that demand for workforce connectivity solutions remains a primary driver for the business.

Market expansion and product recognition

Lucyd Armor, the most popular product line for the group, recently received the 2026 Red Dot Design Award and the NHPA Retailer’s Choice Award. Market analysis indicates that Lucyd Armor holds approximately 44 percent market share of smart safety glasses on Amazon.

Innovative Eyewear management stated that the product remains the only smart safety glass on the platform with full safety certification in the US, Canada, and the European Union. The company has focused on building a diverse product mix and international footprint to maintain its position as a value leader in the smart eyewear sector.

To bolster its direct-to-consumer (D2C) growth, the company is in negotiations with several retailers to introduce Lucyd Armor and Reebok products into brick and mortar stores across the US and Canada throughout 2026. Target partners include big box stores, traditional optical chains, and hardware and automotive retailers.

Industrial partnerships and white label opportunities

Several industrial and logistics companies are currently testing Lucyd products for workforce use; these firms include DHL, Do It Best / True Value, and Thermo King. Additionally, the company launched a white label offering at the most recent Vision Expo trade show.

The white label service allows retailers and legacy eyewear brands to introduce smart products in partnership with Innovative Eyewear. The company confirmed it has already secured an affirmative commitment for a white label line of smart safety glasses.

Preliminary results also indicate improved gross margins for the period. The Q1 2026 gross profit margins showed a significant increase over full-year 2025 margins, which the company attributed to effective tariff mitigation actions.

The company continues to focus on its mission to ‘Upgrade Your Eyewear’ through Bluetooth and ChatGPT enabled frames. These products are offered in hundreds of combinations to serve the sunglasses, sporting goods, and safety eyewear markets.

Paris, France – April 22, 2026 (AFP) – Ski equipment manufacturer Rossignol has improved its sales for the 2025/2026 season, following two difficult winters. The brand announced on Wednesday that the increase was due to strong visitor numbers at ski resorts.

For its financial year ending March 31, the French group achieved a turnover of 346 million euros (406 million dollars), compared to 342 million euros at the same time last year.

Excluding currency effects, sales increased by more than 4 percent year-over-year. The weakening of the dollar particularly impacts Rossignol's accounts, as one-third of its sales are generated in North America.

This increase marks a break from the trend of declining turnover in recent years, although it remains below the historic record of 2022-2023.

Rossignol states that it benefited from a snowy winter in Europe this year. The average occupancy rate at ski resorts was strong, reaching 73 percent for the season in France, for example.

The group generates three-quarters of its sales from ski equipment. Bindings are manufactured in Nevers (Nièvre), France and skis are primarily produced in northern Spain.

Faced with increasingly unstable winter snowfall due to climate change, the brand aims to reduce its dependence on winter.

It now wishes to focus on trail running, a discipline where "the number of participants is exploding," explained the group's head, Vincent Wauters, during a press conference on Wednesday.

The group develops trail and hiking clothing and footwear in Italy and manufactures them mainly in Asia.

In total, its textile division now accounts for around 25 percent of its turnover and 35 percent in France. Vincent Wauters expects this figure to rise to 50 percent within a few years.

This growth is part of a broader trend of adopting technical apparel for urban wear, driven by the huge success of competitors like Salomon.

Unlike other brands, however, Rossignol formally rules out creating dedicated lines to attract these new consumers.

Keen not to "dilute its DNA," Wauters prefers to "aim for performance and let the consumer come."

British footwear retailer Shoe Zone has announced a significant downward revision of its financial outlook for the fiscal year ending October 3, 2026. The company now anticipates an adjusted loss before tax in the range of 1 million pounds to 2 million pounds.

This projection marks a stark contrast to previous market expectations of a 1 million pounds (1.35 million dollars) adjusted profit before tax. The Leicester-based retailer cited challenging trading conditions during the first quarter of the calendar year as the primary driver for the revision.

Macroeconomic pressures impact retail performance

Management identified a continued weakening in consumer confidence as a core challenge. This trend follows recent government budget announcements and ongoing geo-political issues in the Middle East.

These external factors have triggered increased customer caution, resulting in lower footfall across the Shoe Zone estate and a reduction in discretionary spending. Furthermore, the company has faced rising operational expenses, including elevated container prices and transportation costs.

Operational outlook and liquidity

The retailer expects that trading and cost pressures will continue to impact the second half (H2) of the financial year. Despite the projected loss, SZ remains debt free.

Shoe Zone operates 259 stores across the UK comprising 53 original high street stores and 206 larger format stores. These larger formats carry third-party brands including Skechers, Hush Puppies, Rieker and Lilley & Skinner alongside the core value range.

The company expects to announce its interim results in early May 2026, which will provide further clarity on the year-over-year (YoY) performance and strategic adjustments.

Footwear label Sperry is continuing its relaunch in Europe through a new partnership with Dubois, which has been appointed as the “regional engine” by the US brand’s parent company Authentic Brands Group.

Following a “high-impact” return to the UK and Ireland markets, Sperry has now set its sights on mainland Europe, specifically the Benelux and DACH regions. Here Dubois, a Belgian distributor which was recently acquired by the UK’s Gardiner Bros, will enact a “seamless rollout”.

Both Gardiner Bros and Dubois will jointly oversee the regional relaunch, with the latter to input local market intelligence while the former will provide its brand-building knowledge.

The official sell-in for the Sperry collection will begin May 1. Authentic is focused on establishing a presence in premium independent retailers and key accounts to retain the label’s aspirational and accessible identity.

This formula has already been applied to Sperry’s products, for which premium executions of staple footwear, such as the Authentic Original boat shoe, are merged with contemporary streetstyle trends in a bid to maintain brand relevance.

Speaking on this latest rollout, Henry Stupp, head of EMEAI at Authentic, said the expansion “marks an important step in our broader European growth strategy”. “Following strong momentum in the UK and Ireland, we’re seeing clear demand for brands that blend heritage with a modern, fashion-forward point of view,” he continued.

Eyewear company Safilo has announced an exclusive agreement with Bollé Brands to acquire Spy+ and Serengeti. The two US brands are active in the sports, outdoor and high-end eyewear segments.

Spy+, an authentic and established brand in the sports and sunglasses sector, will further strengthen Safilo's presence in sports and outdoor distribution channels due to its strong complementarity with Smith.

Serengeti, with decades of history, will be a key asset for the company led by Angelo Trocchia in the high-end eyewear segment.

In 2025, the two brands registered combined sales of approximately 39 million dollars.

The transaction aligns with the Padua-based eyewear company's strategy of selective acquisitions. According to the statement, this is intended to strengthen "the group's presence in high-growth potential segments, contributing to the further enhancement of its portfolio of proprietary brands, which includes Smith, Carrera, Polaroid and Blenders".

The completion of the proposed transaction is subject to the finalisation of consultation procedures with the relevant authorities and customary closing conditions.

Safilo closed 2025 with net sales of 983.4 million euros, up 1.8 percent at constant exchange rates, with a 2.6 percent organic performance.

Moncler Group reported consolidated revenues of 880.6 million euros (1,035 million dollars) for the first three months of 2026, an increase of 12 percent at constant exchange rates (+6 percent at current exchange rates). The board of directors today approved the interim management statement for the first quarter. Last year, the first three months closed at 829 million euros.

“In a global context characterised by conflict and instability, both Moncler and Stone Island have demonstrated strong energy and cultural relevance. These results are not accidental. They reflect a precise approach that enhances what makes our brands unique. This allows them to constantly evolve in both product and experiences,” stated Remo Ruffini, executive chairman of Moncler spa, in a note.

Moncler revenues reach 766.5 million

Regarding the individual brands, Moncler's revenues reached 766.5 million euros, up 12 percent at constant exchange rates (+6 percent at current exchange rates) compared to 721.8 million euros in the first three months of 2025.

The direct-to-consumer channel grew by 14 percent year-over-year, despite continued market volatility and a high comparison base, the management noted. The wholesale channel recorded a 3 percent year-over-year growth, even within the context of an ongoing rationalisation of the distribution network.

Considering the different geographical areas, Moncler recorded a solid brand performance in Asia, growing by 22 percent at constant exchange rates YoY to 433 million euros. This was supported by positive trends, especially in China and Korea. The Americas also performed well, growing by 7 percent YoY. The EMEA region underperformed (-1 percent YoY, amounting to 238.5 million euros), mainly due to still weak tourist flows in the region.

As of March 31, 2026, the Moncler brand's monobrand store network consisted of 295 direct retail stores, unchanged from December 31, 2025.

Stone Island closed Q1 with revenues of 114.1 million

Turning to Stone Island, revenues reached 114.1 million euros, an increase of 11 percent (+6 percent at current exchange rates) compared to 107.3 million euros in the first three months of 2025.

Double-digit growth continued in the direct-to-consumer channel (+17 percent YoY), driven by a positive organic performance in all regions, with the Americas and Asia outperforming the average.

The wholesale channel was up by 4 percent YoY, supported by the excellent reception of the spring/summer 2026 collection.

As of March 31, the Stone Island brand's monobrand store network had 94 direct retail stores, a net reduction of one unit compared to December 31, 2025.

The strategy for the coming months will see the group increasingly focused on its individual brands.

“As a new phase of our journey begins, with Leo Rongone now in the group, our focus is very clear: to remain true to who we are, always looking forward, and keeping the integrity of our brands at the heart of every decision,” said Ruffini.

Finally, today Moncler's shareholders' meeting approved the financial statements for the 2025 financial year, which closed with a net profit of 438.17 million euros. It also resolved to distribute a dividend of 1.4 euros per share.

Furthermore, the meeting approved a new plan to buy back and dispose of treasury shares, up to a maximum amount equal to 10 percent of the capital.

Swiss watch exports contracted by one percent in March to 2.1 billion Swiss francs, driven down by the US market, according to figures published on Tuesday by the Federation of the Swiss Watch Industry (FH).

American market in decline

In March, exports to the US, the largest market for Swiss watchmakers, fell by 1.6 percent compared to the same period last year, the FH stated in a press release.

Conversely, shipments of timepieces to China continued to strengthen, recording an increase of 4.2 percent, while exports to Hong Kong also rose by 0.5 percent.

Shadow of conflict in the Middle East

For now, “the conflict in the Middle East has not yet affected watch exports to the United Arab Emirates,” the region's main market, the FH detailed. It specified that exports to the country grew by 0.7 percent in March. In contrast, figures plummeted for Saudi Arabia, down 16.8 percent, and Qatar, down 24.8 percent.

The Middle East accounts for 10 percent of Swiss watch exports, FH president Yves Bugmann stated last week at the Geneva watch show. According to Bugmann, regional tensions pose “an additional challenge for the watchmaking industry,” compounding uncertainties over US customs duties and Chinese consumer spending. “Everything depends on the direction this conflict takes,” he stressed.

Marked disparities in Europe

Watch exports do not reflect final sales to consumers, but rather the stock levels held by retailers for their boutiques. The industry's biggest names, including Rolex, Patek Philippe, Audemars Piguet and Vacheron Constantin, just concluded a week-long exhibition at the Watches & Wonders trade show on Monday.

In Europe, trends are mixed. Exports to the UK increased by 3.2 percent in March, while they declined by 8.5 percent to Germany and 16.8 percent to Italy.

Exports to France showed a spectacular jump of 72.4 percent. The FH, however, qualified this result, stating that it “does not reflect actual market growth, but rather re-exports to other markets”.

A new cross-industry initiative has been launched by major players in the circular fashion world that have set out to accelerate the adoption and scaling of textile-to-textile (T2T) recycled and next generation fibres.

The UK’s Fashion Pact and Dutch organisation Fashion for Good have come together to introduce the Circular Fibre Collective, an initiative addressing barriers identified in the currently “disconnected” supply and demand landscape for T2T fibres.

The organisations, acting with strategic insight from the Ellen MacArthur Foundation, said factors like fragmented demand, insufficient financing, a lack of well-developed recycling infrastructure and supportive policy frameworks was impeding the widespread adoption of such materials across fashion, requiring a collaborative approach to move forward.

According to a report by the Boston Consulting Group and Fashion for Good, however, up to two million tonnes of associated material could be achieved if fully mobilised across the sector. This, in turn, would help grow the share of these materials in global fibre production from less than 1 percent to 8 percent by 2030.

Through the collective, the organisations are providing a framework for brands and suppliers to facilitate voluntary forms of demand and create space for investment and supportive policies, striving for the mission of instilling more confidence in innovators, suppliers, and financiers to scale and invest in circular fibre solutions.

Two pillars form the collective’s framework. ‘Adoption enablers’, overseen by The Fashion Pact, zooms in on building voluntary forms of aggregated demand and supporting non-binding commitments.

‘Practical adoption tools’, meanwhile, intend to help brands overcome commercial barriers to adoption. These will include Fashion for Good’s Fibre Club and Toolkit, each pushing for commercialisation.

US Customs and Border Protection (CBP) has launched the first phase of its new refund system for duties collected under the International Emergency Economic Powers Act (IEEPA), introducing the Consolidated Administration and Processing of Entries (CAPE) tool.

Now live via the Automated Commercial Environment (ACE) portal, CAPE allows importers and authorised brokers to submit refund claims through a single consolidated process, rather than on an entry-by-entry basis. The update follows recent court rulings directing CBP to remove IEEPA-related duties from certain imports and issue refunds.

The refunds relate to tariffs previously applied under IEEPA, which were introduced as part of broader US trade measures by President Donald Trump. Following legal challenges, courts ruled that certain duties should no longer apply, requiring CBP to reverse charges and return funds to importers, prompting the need for a more efficient, large-scale refund system.

Phase one of CAPE covers unliquidated entries and entries within 80 days of liquidation. Users submit claims by uploading a file with eligible entry numbers. The system validates the file, processes the submission, and assigns a claim reference. Once approved, CBP recalculates duties as if IEEPA charges were not applied, including interest on refunds.

CBP said the tool is designed to manage what it described as an “unprecedented volume” of refunds, streamlining processing for businesses affected by the duties. The organisation noted that valid claims are expected to be processed within 60 to 90 days, and issued electronically via ACH payments.

Further phases of CAPE are expected to expand functionality, with additional guidance to be released as the system develops.

British footwear brand Clarks has reported a return to the black for the financial year ended December 31, 2025. The Somerset-based company achieved an operating profit of 66.30 million pounds (89.55 million dollars), a significant recovery from the 18.10 million pounds loss recorded during the previous year.

The group attributed this performance to a rigorous focus on streamlining core processes and reducing structural overhead costs. While statutory turnover fell by 3.33 percent to 871.50 million pounds, the business successfully improved its profit before tax to 44.80 million pounds. This marks an 84 million pounds improvement over the prior year-over-year (YoY) loss.

Executive leadership and structural shifts

A pivotal moment in the year was the appointment of interim chief executive officer (CEO) Victor Herrero in June 2025. Under his direction, the brand focused on stabilizing the organization through disciplined cost control and a sharpened focus on product relevance.

Clarks underwent significant restructuring, which included exiting its distribution center in Venlo, the Netherlands, to improve network efficiencies. The company also streamlined its workforce and implemented a new global digital people platform, Dayforce, to manage onboarding and payroll across all regions.

Strategic expansion and product innovation

Despite unfavorable global market conditions, including high tariffs in the US and rising wage inflation, Clarks recorded positive sales achievement in its direct-to-consumer (D2C) channels. E-commerce in the UK and Republic of Ireland (ROI) and outlet stores in the Americas were highlighted as particularly strong performers.

The brand continued to pivot toward the global athleisure trend, launching three new franchises: Clarks Pace, Solevana, and Clarks Code. The company's lifestyle sub-brand Cloudsteppers opened its first standalone stores in the US and Malaysia, with further expansion planned for 2026.

The Asia Pacific (APAC) region proved to be a high-growth market, delivering double-digit sales growth and higher average selling prices compared to Western regions. The company also re-entered the Indian market during the third quarter of the financial year (FY25 Q3) to capture further market share.

In the UK, where the brand celebrated its 200th anniversary, a return to prime-time television advertising helped drive an uplift in market share during the second half of the year. However, wholesale remained challenging in UK and EMEA markets as partners managed inventory cautiously amid weak retail demand.

Financial position and future outlook

Clarks ended the year with a positive cash position of 48.40 million pounds and zero bank borrowings. The group’s financial position was further bolstered by the reclassification of 100 million pounds in preference shares from financial liabilities to equity in December 2025.

As the company moves into 2026, the strategy remains centered on driving sustainable, profitable growth. Key priorities include expanding non-footwear assortments, entering new markets, and identifying further operational efficiencies.

New York City Economic Development Corporation (NYCEDC), in partnership with the Council of Fashion Designers of America (CFDA), has announced the continuation of its Fashion Manufacturing Initiative (FMI) with the launch of a new Local Production Fund, backed by a combined 1.7 million dollar investment.

The fund is designed to support New York City’s garment manufacturing sector by strengthening collaboration between designers and local producers, while driving growth in domestic production orders. Over a two-year period, the programme will provide credits to up to 21 manufacturers, supporting reshored production for as many as 43 designers across up to three seasons.

The initiative builds on the original FMI, launched in 2013 to modernise facilities, support workforce development and reinforce the city’s manufacturing base. Since its inception, the programme has invested 6.7 million dollars across more than 220 grants, impacting over 3,700 workers.

Jeanny Pak, interim president and CEO of NYCEDC, said: “Building on that growth, NYCEDC is proud to continue our partnership with CFDA through the new Local Production Fund, which will deepen collaboration between local designers and manufacturers, helping to drive production and ensure this vital industry continues to thrive in New York City.”

CFDA president Steven Kolb added: “At the CFDA, we are committed to supporting American designers not just creatively, but in building strong, sustainable businesses, and the Local Production Fund is a critical step in helping them access local manufacturing, build lasting partnerships, and grow within New York City.”

The programme has received early support from industry partners including the American Apparel & Footwear Association (AAFA) and retail executive Andrew Rosen, who said: “The Fashion Manufacturing Initiative, and now the Local Production Fund, is investing in and supporting this vital ecosystem. I'm excited and proud to be part of the continuation of such an important mission—one that helps ensure garment manufacturing in New York City continues to thrive.”

The launch also aligns with broader city efforts to support the Garment District through initiatives such as Midtown Made, which aims to connect businesses with resources and promote local production. In regards to the latest Local Production Fund, applications for manufacturers open on April 20, 2026, with designer applications following on June 23.

QVC Group, the US parent company of TV and social shopping firm QVC, has filed for bankruptcy after entering into a restructuring support agreement (RSA) with shareholders that hold a significant majority of its outstanding funded debt.

The deal includes a prepackaged financial restructuring plan designed with the intention of reducing debt and strengthening the company’s financial position as part of its ‘Win Growth Strategy’.

In order to move forward with this plan, the company and certain US subsidiaries, including QVC, Inc., have commenced voluntary Chapter 11 proceedings in the US Bankruptcy Court for the Southern District of Texas.

The RSA will allow the group’s debt to reduce from approximately 6.6 billion dollars to 1.3 billion dollars as it emerges as a newly deleveraged company, Reorganised QVC, Inc. The company is expecting to emerge from the financial restructuring within 90 days.

The group said its brands, including all channels and platforms for QVC, HSN, and Cornerstone Brands, will continue to operate as usual supported by “ample liquidity”. Vendor, supplier and unsecured creditor payments will be made possible via the RSA.

QVC Group’s international operations, including its customer-facing operations in the UK, Germany, Japan, and Italy, are not included in the process, and will remain operational.

QVC further confirmed that no layoffs of furloughs were planned in connection with the financial restructuring. Employees are expected to continue receiving wages and benefits uninterrupted.

The company said it would continue to focus on rolling out its three-year Win Growth Strategy, which has focused on pivoting the business towards emerging forms of video shopping, namely via social media and streaming platforms such as TikTok Shop, where QVC has become a top seller in the US.

The shift came as a response to the structural decline of traditional cable television, which had historically served at the foundation of QVC’s business model. As a result, the group has repositioned as a live social shopping firm, a strategy it says has already shown measurable results as customer numbers grow across new shopping formats.

The group has further consolidated its HSN and QVC operations, struck new deals with social and media partners, and rebalanced sourcing to account for the changing tariff environment, its president and CEO, David Rawlinson, said.

He further expressed appreciation for support from vendors, business partners, and team members, adding: “This process will allow for QVC Group to have the financial structure it needs to accelerate our return to growth.”

Lululemon is continuing to scale in Mexico where it has now officially launched a dedicated e-commerce channel to enhance customer experience. The site’s debut complements the Canadian company’s further plans to increase its store count in the region during fiscal year 2026.

In a press release, Lululemon confirmed that it is looking to open around 15 new stores across North America, including eight in Mexico. The locations will bring its Mexican store count to 30 by the end of the current fiscal year, responding to a continued growth seen in the market, the company said.

The latest plans build on ongoing strategic investments into the growth and evolution of Lululemon’s omnichannel experience, which has taken shape in both new and elevated stores and enhanced digital capabilities, its SVP and general manager of North America, Carla Anderson, noted.

“The momentum we are driving in Mexico reflects the strength and relevance of our brand within the community and signals the continued opportunity ahead as we build connected, engaging, and consistent experiences for our guests,” Anderson added.

The athleisure brand has already escalated efforts in Mexico through community-centric initiatives aimed at showcasing its regional strategy. In March, the company hosted the Lululemon 10K CDMX 2026 race that brought together 8,000 participants, while an earlier multi-day summit for ambassadors intended to strengthen brand affinity.

Now, the launch of lululemon.mx allows customers in the region to purchase the brand’s apparel, footwear, and accessories online, with a product assortment spanning men’s and women’s offerings.

The non-profit organisation Clean Clothes Campaign has initiated legal proceedings against Levi Strauss & Co. According to the organisation, the denim brand has misled consumers with statements about labour conditions in its supply chain, as stated in a press release. Four consumers are acting as co-claimants in the case.

The lawsuit was prompted by alleged abuses in a Turkish factory that produces exclusively for Levi’s, according to the organisation. In 2023, workers who participated in union protests there were reportedly confronted with intervention from local authorities and were subsequently dismissed. A group of workers has been demanding compensation ever since.

The Clean Clothes Campaign claims that in its communications with consumers, Levi’s has referred to responsible production and respect for labour rights, including freedom of association. The organisation points to findings from the Worker Rights Consortium and the brand's own code of conduct.

The case is supported by the Centre for Research on Multinational Corporations (SOMO), which has provided research. A date for the first hearing has not yet been set.

Increasing scrutiny of sustainability claims in the sector

The lawsuit is part of a broader trend where sustainability and ethical claims by fashion brands are increasingly facing legal and regulatory scrutiny. In 2023, several statements by Primark in the Netherlands were investigated by the Advertising Code Committee. This included communications in stores and on the Dutch website, which focused on themes such as equal opportunities and better conditions for garment workers.

The regulator ruled that several statements were misleading, partly because the claims were not substantiated with sufficient concrete evidence or because it was not made clear that they were future objectives. On appeal, the Board of Appeal upheld this ruling. The board stated that certain claims were “insufficiently substantiated” to assume that the ambitions would be realised in a timely manner.

The case illustrates how communication about sustainability and labour conditions within the fashion sector is being increasingly scrutinised for transparency and substantiation.

Levi’s has been contacted for comment; this article may be updated later.

British travel brand Antler has announced strong financial results for its fiscal year ending February 28, 2026, recording global gross sales of 52 million pounds (70.15 million dollars). The performance represents a 17 percent increase compared to the previous year and marks the fourth consecutive year of double-digit growth for the company. Since the 2023 fiscal year (FY23), the brand has nearly doubled its sales from 27.20 million pounds.

The upward trajectory was supported by robust performance across all primary sales channels. Global digital sales rose by 14 percent year-over-year (YoY), while wholesale revenue grew by 20 percent. This growth in wholesale was bolstered by the expansion of international retail partnerships.

Sustained momentum in global markets

While the UK remains the largest market for Antler with a 17 percent YoY increase in gross sales, the US has emerged as the fastest-growing region. Sales in the US increased by 83 percent during the period, driven by e-commerce performance and expanded wholesale agreements with retailers such as Nordstrom and Bloomingdale's. Since FY23, US sales have grown more than tenfold.

Australia continues to serve as the second-largest market for the brand, delivering 10 percent YoY growth. To further its international footprint, Antler signed new distribution agreements in South Korea, Saudi Arabia, and Malaysia. These moves aim to capture demand for premium travel products across Asia and the Middle East.

Strategic evolution into House of Brands

The London-based company, which is owned by Australian-based group Strandbags, is currently transitioning into a multi-brand entity. Following the acquisition of US travel brand Paravel in August 2025 and the international expansion of Nere, the group is positioning itself as a 'House of Brands' within the global travel and lifestyle category.

Antler chief executive officer, Kirsty Glenne, who was appointed to lead the House of Brands in March 2026, noted that FY26 has been a “defining year”. Glenne stated: “Our fourth consecutive year of double-digital growth reflects the strength of our brand, product and global strategy. The acquisition of Paravel marks an exciting step as we begin to build a house of brands, broadening our reach within the travel lifestyle category, while remaining rooted in our design-led heritage”.

Future retail and revenue targets

The brand opened doors to a flagship store on 100 Regent Street in London on April 21, 2026. Spanning two floors and over 2,400 sq ft, the new store is designed in collaboration with award-winning design agency Checkland Kindleysides. Located within London’s prestigious shopping district, Antler will join other iconic British brands, including Burberry and Mulberry, in its premium retail positioning. The opening also marks the introduction of the Antler Monogram, a new brand code developed from the interlocking geometry of Antler’s icon and brand mark.

Additionally, management is currently scoping new retail opportunities in the US for later this year. These developments are part of a broader strategy that includes a new global headquarters and increased marketing investment.

Looking ahead to the 2027 fiscal year (FY27), the group aims to build on its current momentum. Antler has set a formal revenue target of 100 million pounds by the 2029 fiscal year (FY29) as it continues its evolution into a diversified travel and lifestyle business.

Rome - Italian fashion house Loro Piana, owned by French luxury giant LVMH, announced on Friday the early termination of its judicial administration by the Court of Milan.

“Loro Piana acknowledges the early conclusion of the judicial administration proceedings by the Court of Milan, ahead of the originally scheduled 12-month period,” the Italian cashmere specialist stated in a press release.

According to the brand, the court highlighted the “virtuous approach undertaken and successfully completed” by Loro Piana. This “clearly demonstrates the company's commitment to continuing its efforts” to protect “the health and well-being of all workers, including indirect workers”.

In July 2025, Loro Piana was placed under judicial administration for having “negligently facilitated” the exploitation of workers at subcontractors. According to the court's decision, this was due to a “widespread lack of organisational models and a deficient internal audit system”.

According to investigators, the house, renowned for its cashmere designs, outsourced garment production to a company with no production capacity. This company, in turn, used another company, which then engaged workshops employing Chinese workers in Italy to reduce costs.

In these workshops, undocumented workers were exploited without regard for health and safety legislation, particularly concerning “wages; working hours; breaks and holidays,” the judges stated.

“As soon as the (judicial administration) measure was implemented, Loro Piana strengthened its internal functions dedicated to supplier supervision... The House has also implemented enhanced procedures for supplier integration and continuous monitoring,” the luxury house added.

The Italian brand stated that since 2024, it has conducted “2,400 audits”. These led it to cease collaboration “with more than 100 suppliers and subcontractors who did not meet the House's requirements”.

Other major luxury names have also been temporarily placed under judicial administration in similar cases since 2024. The measure has since been lifted for brands such as Dior (LVMH), an Armani subsidiary and, more recently, Valentino Bags Lab.

Loro Piana, an Italian brand specialising in cashmere, vicuña and extra-fine wool, was acquired by LVMH in 2013.

UK-based diversified group Associated British Foods (ABF) has announced a definitive plan to demerge its retail business, Primark, from its food operations. The decision follows an in-depth strategic review initiated in November 2025 and is intended to be completed before the end of the 2027 calendar year. The demerger is supported by ABF’s largest shareholder, Wittington Investments, which intends to maintain majority ownership of both entities.

The board believes the separation will allow both businesses to be overseen by boards directly aligned with their specific industry dynamics and strategic priorities. ABF chairman Michael McLintock stated that the move is the best way to maximise long-term returns for shareholders, reflecting the current scale of Primark and providing a clearer investment proposition for the food business.

On completion, George Weston will serve as the chief executive officer of FoodCo, which will retain the Associated British Foods plc name, while Eoin Tonge has been appointed as the CEO of Primark.

ABF announces Primark demerger following interim results

The announcement coincided with interim results for the 24 weeks ended February 28, 2026, which showed a challenging first half for the group. Retail segment revenue grew by 2 percent to 4.7 billion pounds (6.35 billion dollars), though adjusted operating profit fell 14 percent at constant currency to 471 million pounds. Primark's adjusted operating margin decreased to 10.1 percent from 12.1 percent in the prior year as the company managed higher markdowns and increased investment in digital and technology initiatives. Like-for-like (LFL) sales declined by 2.7 percent globally during the period.

In the UK, Primark demonstrated resilience in a difficult market, delivering LFL sales growth of 1.3 percent and increasing its market share to 7 percent. This performance was attributed to a re-energised customer proposition, including the ‘Major Finds’ value initiative and the expansion of the nationwide click and collect service. Conversely, trading in continental Europe remained weak with LFL sales declining 5.6 percent, impacted by low consumer confidence and a difficult retail environment, particularly in Germany. The US market remained a growth driver, with sales increasing 12 percent following the opening of five new stores.

At a group level, revenue decreased 2 percent at constant currency to 9.5 billion pounds. Adjusted operating profit declined 18 percent to 691 million pounds, largely due to significant losses in the sugar segment and the expected decline in retail margins. Adjusted earnings per share fell 15.4 percent to 70.7p.

Outlook and impact of Middle Eastern conflict

Looking ahead to the spring/summer 2026 (SS26) season, management reported an encouraging start in March, though trading softened in April as the impact of the Middle East conflict began to affect consumers. The group continues to target "white space" growth of 4 percent to 5 percent per annum through new store rollouts for the foreseeable future. For the full year, ABF maintains its outlook for Primark, with an expected adjusted operating profit margin of approximately 10 percent.

The group is currently managing the impacts of the Middle East conflict, which has caused volatility in energy and freight prices. While Weston noted that the cost consequences for 2026 are expected to be manageable, there remains a risk to Primark sales if consumer spending further deteriorates.

California Attorney General Rob Bonta has released a series of unredacted court documents detailing how US e-commerce giant Amazon allegedly pressured fashion and lifestyle brands to inflate prices across the retail market. The filings, part of an ongoing antitrust lawsuit in the San Francisco Superior Court, implicate major industry names such as Levi Strauss & Company (Levi’s) and Hanesbrands (Hanes) in a systematic effort to prevent competitors from undercutting Amazon’s pricing.

The evidence suggests that Amazon leveraged its dominant market position to monitor prices on rival platforms, including Walmart and Target. When lower prices were detected, Amazon reportedly compelled brands to intervene with those retailers to secure price increases, threatening them with reduced visibility or delisting on the Amazon marketplace if they failed to comply.

“The evidence we've uncovered is clear as day: Amazon is working to make your life more unaffordable. The company is price fixing, colluding with vendors and other retailers to raise costs for Americans beyond what the market requires — beyond what is fair,” said Attorney General Bonta in a statement.

Pressure on apparel leaders Levi’s and Hanes

Newly unsealed communications highlight the specific roles of prominent US apparel firms in these pricing dynamics. In 2021, an Amazon employee reportedly flagged 'styles of concern' to a counterpart at Levi’s, referencing khaki pants priced lower on Walmart.com. Following the exchange, the Levi’s representative confirmed that Walmart had partnered to raise the price of the Easy Khaki Classic fit to 29.99 dollars, describing the move as being in the ‘best interest of the marketplace’.

A similar pattern was observed with US-based basic apparel manufacturer Hanes. Court records show that in 2022, Amazon sent Hanes direct links to lower-priced items on the websites of Target and Walmart. A Hanes employee subsequently confirmed the brand had “reached out to Target and Walmart to have the prices increased” to align with Amazon’s expectations.

Rob Bonta said his office released the new filings Monday to demonstrate how Amazon “coordinates” with vendors and major retailers—including Target, Walmart, Chewy, Best Buy, and Home Depot—to drive price increases across the market.

Strategic implications for fashion executives

The legal challenge, which is set to go to trial in January 2027, poses significant questions for the fashion industry’s distribution strategies. For executives at brands like Levi’s and Hanes, the allegations highlight the risks of maintaining price parity across multiple retail channels under pressure from a dominant platform.

Bonta is currently seeking a preliminary injunction to halt these practices immediately. For the fashion sector, the outcome of this case may redefine the boundaries of wholesale partnerships and digital commerce compliance.

Interview

Lisa Krage is the founder of Swiss Performance Systems and a specialist in performance coaching and corporate health. She develops measurable performance systems for high-performers in demanding positions and for ambitious companies. Her approach is based on scientific stress and performance diagnostics, methods from elite sports, and over a decade of experience in international business environments. Her motto is: health and success are not mutually exclusive; they go hand in hand.

Before going freelance at the end of last year, she held various roles in the sporting goods industry. She first worked for the German group Adidas and most recently as brand communications and athletes lead for Europe, the Middle East and Africa (EMEA) at the Swiss sports brand On. She experienced first-hand what modern leadership demands of the body and what separates the best performers from the burnt-out. She also knows high performance from her own experience as an active competitive track runner.

Today, she combines these two worlds in Swiss Performance Systems. FashionUnited spoke with her about how stress measurably impairs creativity and performance and what tips she would give to leaders in the fashion industry.

You are active in stress diagnostics and performance consulting. what are your initial tips for companies to promote the wellbeing of their employees?

My first tip is to measure, not guess. In business, we make data-driven decisions every day on turnover, growth, and margins. So why not do the same when it comes to health?

We are all familiar with health days, sleep lectures, and resilience workshops. The problem is that most of these initiatives are measured by the number of participants, not by their impact. This is why most corporate health managers I speak to have difficulty expanding their resources. No data, no demonstrable impact, no budget.

Have you had similar experiences in your career?

Yes, I have experienced this myself. We once invested 10,000 Swiss francs in a sleep expert. It was a two-hour presentation, well-attended, with good feedback. My honest assessment in retrospect is this: if those two hours do not lead to concrete behavioural changes, such as a commitment to eight hours of sleep daily or regular bedtimes, it would have been more beneficial for the employees to simply sleep for those two hours.

This is not a criticism of sleep experts. It is a criticism of the system. As long as corporate health is not measured with KPIs like any other area of the business, it will remain a nice add-on instead of a strategic infrastructure. First, we need data instead of generic wellness offers to understand where performance is truly being lost. Only what is measured can be addressed, allowing us to allocate resources meaningfully.

What structural problems that burden employees are deeply rooted in fashion companies?

The fashion industry thrives on cycles: fixed deadlines, seasonal collections, and the constant pressure of the next season. Developing a new product in the sports-fashion industry typically takes two years, from concept to launch. Simple colour updates are quicker; new innovations take three or more years. The fashion calendar is tightly scheduled.

What is often forgotten is that high performance requires recovery. In competitive sports, no one would expect athletes to be in competition form for twelve months straight. A regeneration phase always follows the competition phase. The sports-fashion industry is different. Here, fashion shows, marathons, and campaign launches follow one another in quick succession. This is a structural problem.

Are there specific consequences caused by chronic stress that you particularly notice?

What I see in many of my clients' profiles, I also know from my own experience. I worked in a high-performance environment for years and ignored the classic warning signs. I powered through the day with coffee, worked while sick, and then, when I finally went on holiday, I would immediately fall ill. This is no coincidence. The body waits until it can 'allow' itself to rest and then catches up on what it has suppressed.

This is the exact same pattern I see in most high performers: the lost ability to 'relax'. The classic statement is: “I come home and just can't switch off.” This is not a character problem; it is biology.

What is behind this?

We are talking about a dysregulation of the stress response system. The body is permanently in a sympathetic or activated state, in 'always on' mode. The research here is clear: studies show that work-related chronic stress is consistently linked to an increased heart rate, elevated cortisol levels, and reduced heart rate variability. The body literally loses the ability to switch flexibly between tension – the 'fight-or-flight' state – and recovery – the 'rest-and-digest' state.

What would you recommend to leaders in the fashion industry to reduce the long-term effects of stress?

First, assess the current situation. What is the state of my body's resources? What are my stress patterns? Can I still regulate myself, and if so, what truly helps me do that? Various measurement methods are available for this, from long-term ECGs and biomarker tests to surveys.

According to studies, a healthy lifestyle can significantly reduce the risk of certain chronic diseases and considerably increase life expectancy. Some longevity clinics even speak of an 80 to 20 ratio. 80 percent of our health is said to be influenced by lifestyle, environment, and habits, while genes account for a maximum of 20 percent. So, one's own sphere of influence is huge.

What is the next step once the current situation has been determined?

Then it is the basics that make the difference. Not cryo-chambers or expensive infusions, but sleep, exercise, nutrition, and social contact. I am not just speaking from scientific conviction, but from my own experience. I used to start my training on an empty stomach and skip meals when things got stressful. I then wondered why my energy levels were so low in the afternoon. Today I know it was not a problem of willpower. Unstable blood sugar creates stress in the body, which can feel like anxiety or even panic.

The crucial question is: how do I make these basics my standards so that they can withstand a stressful work week or a business trip? For example, I always travel with running shoes and choose hotels with a gym. That sounds simple, but it is an attitude. I will say it openly: I would not choose an employer who does not actively create a framework that promotes my health and performance, and where the healthy choice is easier than the unhealthy one.

Designers balance creativity with the pressure to finish collections. at what point does physiological stress block the creative process?

The body and mind cannot be separated. Stress is multidimensional and always biological. Every negative thought, every deadline, every conflict triggers a biochemical reaction in the body. Catecholamines are released, the heart rate increases, cortisol rises, and the brain switches to survival mode. In survival mode, creativity is the last thing resources are used for. Chronic stress destroys the very mental state that creative work requires. In survival mode, one reacts rather than creates.

I thrive under short-term pressure, just like in a competition. I learned that from competitive sports. I am very efficient and solution-oriented then. However, with prolonged stress, I notice a significant decline in my creative abilities. The capacity of my nervous system is very limited then.

Are there parallels between elite athletes and executives?

Absolutely, and that is the core of my approach. I see executives as elite athletes – the business athlete. Both are under constant pressure and both depend on peak performance.

Let's take a concrete example from sports science. A fluid loss of just one to two percent of body weight measurably impairs performance, affecting concentration, strength, and reaction time. For athletes, running ten seconds below their personal best would immediately raise an alarm. In the corporate world, we ignore warning signs every day.

The difference between athletes and executives? Athletes are supported with diagnostic tools, recovery protocols, mental coaching, and nutritional expertise. I had the honour of helping to build such a system at the sports brand On: the '360° Athlete Support' programme. My goal is to transfer this principle to the business world.

What lessons did you take away from your time at On?

My most significant lesson from more than nine years in the sports industry is: culture beats motivation. Motivation is fleeting; it works when everything is easy. Culture is what sustains you when things get difficult.

I have experienced first-hand how an environment where healthy choices are the norm, such as running during the lunch break, a fresh, healthy canteen, and walking meetings, can make a difference. It led me to build habits that I probably would never have maintained so consistently on my own. The environment does the work for you. This has completely changed my perspective on sustainable performance and is now the foundation of my work with executives and companies.

Artificial intelligence (AI) is increasingly being integrated into creative and business processes. do you see these tools as a remedy for stress or as an additional pressure, as expectations for performance and speed increase?

That depends on how you use it. I have personally never been afraid that AI would replace my job. I have a very strong growth mindset and am constantly learning and developing. Anyone who is afraid of AI today should ask themselves: what are my strengths that AI cannot take over in the near future? What are the human skills that will become even more important in the future?

AI accelerates output, such as data analysis, structuring, and text creation. However, human capacities like stress regulation for strategic decisions under pressure, emotional intelligence for building business relationships, and a high-performing, healthy body for the necessary self-confidence cannot be automated in the near future. This will be the decisive competitive advantage in the coming years.

To what extent can stress diagnostics help to promote productivity or reduce error rates?

I see stress diagnostics as a tool to expand human performance capacity and as an early warning system for burnout. I know from my own experience how long you can ignore these warning signs. Being ill on holiday, feeling like you can never really switch off, waking up exhausted in the morning even though you have slept: these are not just feelings, they are measurable biological states.

Studies show that burnout patients exhibit altered cortisol patterns months in advance. Those who read these signals early can react before the damage occurs. It is not for nothing that the World Health Organization has described stress as the 'health epidemic of the 21st century'. The figures are clear: a single case of burnout costs a company four to six months' salary in lost work, and that is just the tip of the iceberg. In addition, there are losses in productivity, staff turnover, and damage to reputation. This can add up to several million per year, depending on the size of the company. That is why I see corporate health and stress diagnostics not as a cost centre, but as risk management.

This interview was conducted in writing.

Danish clothing and lifestyle brand Aiayu achieved a 22 percent increase in gross profit in 2025, according to a press release. Gross profit increased from 3.8 million euros (4.47 million dollars) in 2024 to 4.64 million euros in 2025. Net profit after tax rose in the same period from 740,000 euros to 970,000 euros.

Equity grew from 3.7 million euros to 4.2 million euros and cash and cash equivalents increased from 1.4 million euros to 2.38 million euros. The average number of employees increased from 31 to 36. Revenue figures were not shared.

The company, founded by Maria Høgh Heilmann, focuses on clothing and lifestyle products based on natural materials and works with two collections per year. In 2025, Aiayu invested in wholesale relationships, digital performance and the further development of its own e-commerce platform, according to the press release.

Aiayu was founded in 2005 and is based in Copenhagen. The brand has three stores in Copenhagen and one in Aarhus and is sold internationally through selected retail partners.

Following the strategic plan announced by Kering in Florence on April 16, unions are expressing concern about the future of jobs and have requested a meeting with CEO, Luca de Meo.

In a statement today, the national secretariats of Filctem Cgil, Femca Cisl and Uiltec Uil acknowledged the important statements made to shareholders. However, they expressed concerns about the potential employment impact of the proposed plans. These concerns relate to both the group's internal operations and its associated supply chains, particularly given the existing difficult situation at Alexander McQueen. Last March, Alexander McQueen initiated redundancy proceedings for 54 employees in Italy.

Furthermore, the unions stated they hope to "meet again soon with the chief executive officer of the Kering Group, Luca de Meo, in the hope of gaining clarity on the industrial plans that will affect all the group's brands and, consequently, all connected districts and production chains in the coming months".

FashionUnited has contacted Kering for a comment on today's statement from the unions.

UK fashion retail proved more resilient than the broader high street in the latest week, with total like-for-like (LFL) sales slipping just -0.80%, according to the latest BDO High Street Sales Tracker. The result comes off a demanding base of +13.76% for the same week last year, and covers a period that included the Easter Monday break and half-term holidays.

The fashion category fared considerably better than the wider market, where total LFL sales fell -4.43% — the fourth consecutive weekly decline across lifestyle, fashion, and homewares. Total store LFLs dropped -4.03%, while total non-store LFLs grew +2.53%, both measured against stronger year-ago comparisons.

Fashion's online-offline split showed a clear divergence. Store fashion sales declined -2.60%, from a positive base of +3.86% last year. Non-store fashion sales edged up +1.03%, although the comparable base of +22.65% for the same week last year underlines how demanding the year-on-year comparison remains. Springboard footfall data points to a shift in where UK consumers are shopping rather than a broad retreat from physical retail. Overall footfall declined -0.8%, with retail parks up +1.8% and shopping centres up +1.5%, offsetting a -3.1% drop in high street footfall.

Weather conditions moved from unsettled post-storm skies into a warm, spring-like spell during the week, with temperatures climbing above seasonal norms in certain areas before turning more changeable toward the weekend. For fashion retailers, the transition into milder weather may have supported demand for spring collections, although the exceptionally strong year-ago comparisons — particularly the +22.65% base for online fashion — continue to weigh on headline growth figures despite the category's relative outperformance.

British lifestyle brand Mulberry has delivered a strong sales performance for the second half of the 2026 financial year, supported by a turnaround strategy focused on brand reignition and full price discipline.

The group reported constant currency sales growth of 13.6 percent during the second half (H2) of the 52 weeks ended March 28, 2026. This momentum resulted in total revenue growth for the full year (FY26) of 5.7 percent on a constant currency basis. The performance indicates that the ‘Back to Mulberry Spirit’ strategy is gaining traction across all global regions. Every end market reported positive like-for-like (LFL) sales growth in H2, with the EU (excluding the UK) leading the expansion at 37.8 percent.

Strategic shift drives regional growth

The group’s retail and digital channels saw widespread recovery following a more difficult first half (H1) of the year. In the UK, retail and digital sales rose 13.7 percent in H2, while the US and Asia Pacific regions grew by 20.1 percent and 20.8 percent respectively.

Mulberry chief executive officer, Andrea Baldo, noted that the results demonstrate the turnaround is firmly underway despite a challenging economic and geopolitical environment. The group has remained focused on re-engaging its existing customer base while attracting new shoppers through a more focused product offer and improved availability. This growth was achieved alongside a disciplined focus on full price sales and a reduction in discounting.

These measures supported an improved gross margin for the 2026 financial year, continuing the progress seen in the H1 report where gross margin reached 69 percent.

Creative leadership and ready-to-wear relaunch

A significant pillar of the brand refresh is the appointment of British designer Christopher Kane as ready-to-wear (RTW) creative director. Kane, who previously closed his eponymous brand in 2023, will lead the return to a category Mulberry has not occupied since ending its licensing agreement with Onward Luxury Group in 2020.

The first collection under Kane’s direction is set to be unveiled in September 2026, with items becoming available in stores and online from January 2027. Baldo stated that Kane’s arrival marks an important step in re-establishing creative leadership as the brand evolves its creative language beyond accessories. Industry engagement regarding the relaunch has been high, with partners ranging from Selfridges in the UK to The Webster in the US.

Recent product initiatives, such as the ‘Rooted in Craft’ campaign and the limited edition Bayswater launch, which sold out in minutes, have already begun to elevate brand awareness. While the group remains focused on the work ahead, Baldo expressed confidence in the ability to build a sustainable, profitable business for the long term.

If your fashion brand has established a strong presence in its home market, expanding internationally through e-commerce marketplaces can unlock significant growth opportunities. Platforms like Macy’s, Saks Fifth Avenue, ASOS and Zalando can connect your products with new customers, increasing brand visibility across global markets.

However, many assume that marketplace access is limited to large, well-established companies. This is no longer the case. Whether you’re a fast-growing startup or a mid-sized fashion brand, e-commerce marketplaces have never been more accessible for brands of all sizes. Read on to learn how these platforms can drive your global expansion.

What is an e-commerce marketplace?

An e-commerce marketplace is an online platform that sells products from multiple brands, giving shoppers a convenient one-stop shop instead of visiting separate websites for each of their favourite brands. In the fashion industry, these platforms act as ‘digital department stores’, offering a wide selection of apparel, accessories and other goods.

“As well as being convenient for online shoppers, marketplaces give brands a platform to showcase their products to a wider audience,” says Maxim Sion, Global Sales and Business Development Manager at Bleckmann. “Once dominated by large fashion companies, there are now scalable solutions that unlock these platforms for a much wider range of brands. This can provide a powerful lever to drive international growth.”

A key tool for building trust with international shoppers

One of the main benefits of selling through e-commerce marketplaces is that your brand gains credibility in regions where it may still be relatively unknown. Most marketplaces vet brands and their products carefully before allowing them to be featured, ensuring that only reputable, high-quality brands are showcased.

“For consumers unfamiliar with your brand, seeing your products featured on a marketplace signals reliability and quality,” explains Maxim. “In this way, marketplaces can not only extend your reach but also enhance your brand’s reputation in new markets, helping convert shoppers who are new to your brand into loyal customers.”

Faster entry into new international fashion markets

One major benefit of joining e-commerce marketplaces is their ability to streamline international expansion without the need to set up physical entities in new regions. For instance, if a European brand wanted to sell in the US, it would typically need to establish a legal entity and rent warehouse space – alongside handling customs, shipping and other costs. However, selling through marketplaces with the support of a third-party logistics (3PL) provider means that you can leave all the heavy lifting to the professionals.

“As well as being a significant investment, setting up operations in a new country is time-consuming,” continues Maxim. “However, the right fashion logistics provider can make international expansion smoother, faster, and more cost-effective by offering bulk shipping rates and streamlining customs management, for example. This accessibility is allowing many more brands to expand globally and reach much broader audiences without the high costs and long timelines typically associated with international growth.”

Success story: Swift expansion with e-commerce marketplaces

A great example of quick marketplace integration is Bright Swimwear, a European fashion brand that used e-commerce platforms to enter the US market. Onboarding with just one premium marketplace is typically a lengthy process, with IT integration alone often taking up to six months. However, thanks to Bleckmann’s partnership with cross-border B2B specialist Global Bridge, Bright Swimwear launched on five major US e-commerce marketplaces – including Nordstrom and Bloomingdale’s – in just four months.

How can e-commerce marketplaces improve brand awareness?

E-commerce marketplaces often attract millions of visitors per day, offering your brand increased exposure without the hefty cost of traditional advertising campaigns. As soon as your products are listed, they can be seen by a wider audience. Even if you don’t convert every visitor into a paying customer, the enhanced visibility helps to build brand recognition in new markets, boosting brand awareness. This increased familiarity with your brand is a crucial step in driving international growth – so it shouldn’t be overlooked.

Scaling your brand with Bleckmann and Global Bridge

As we’ve seen, e-commerce marketplaces are a powerful driver of international growth for brands. However, smaller apparel brands have traditionally struggled to access these platforms due to high costs and logistical barriers. Thanks to Bleckmann’s partnership with Global Bridge, more small- and medium-sized fashion labels can now unlock the potential of regional and international fashion e-commerce marketplaces.

This unique collaboration provides a streamlined, plug-and-play solution that simplifies marketplace integration for brands. By removing common barriers such as legal complexities, IT integration and other logistical challenges, international expansion becomes much more attainable. As a result, entering new markets is no longer an unachievable task, but an affordable, accessible and realistic growth opportunity.

Want to find out more about how e-commerce marketplaces could fuel your brand’s international expansion? Read more about Bleckmann’s partnership with Global Bridge here, or get in contact today for a free consultation with one of our logistics experts!

Belgian lingerie group Van de Velde has appointed Marc Dambremez as chief executive officer. According to a press release, he will take up the position on August 31, 2026. He succeeds Karel Verlinde, who is leaving the organisation after seven years.

Dambremez has been tasked with accelerating the company's next phase of growth. With over 15 years of international experience in the fashion industry, he brings expertise in brand-driven growth, international retail and consumer engagement. He is expected to drive further growth while preserving the heritage of craftsmanship and quality.

Chairman Yvan Jansen commented on the appointment. “Marc brings strong fashion expertise and a distinct consumer-centric mindset to strengthen and scale our brands at a time when global brand relevance and speed to the consumer are crucial.” According to Jansen, Dambremez will lead Van de Velde towards “sustainable growth and long-term value creation”.

Dambremez called the move “particularly attractive”: “The strength of the brands and the opportunities that lie ahead are particularly attractive, and I look forward to building a high-performance culture where the consumer is at the heart of the strategy. My focus will be on accelerating the momentum in our core markets.”

From Levi Strauss & Co. to Van de Velde

After more than 16 years, Dambremez moves from Levi Strauss & Co.. There, he held various international leadership positions, including managing director for Asia Pacific and managing director for retail outlets EMEA. He was also vice president of global retail, real estate and franchise.

Van de Velde's portfolio includes brands such as PrimaDonna, Marie Jo and Sarda. The company partners with thousands of retailers worldwide.

At the Paris conference on the Strait of Hormuz, the approximately 50 participating countries demanded the immediate, unconditional, and complete reopening of the strait by all parties in the Iran war. “We demand the restoration of the pre-war conditions for free passage and the unrestricted respect for maritime law,” said French president Emmanuel Macron after the meeting. “We reject any restriction or agreement that would de facto amount to an attempt to privatise the strait, and of course, any toll system.”

France intends to organise a neutral naval operation with Great Britain, which will be clearly distinct from the warring parties, to escort and secure commercial vessels transiting the Gulf along the Iranian coast. A planning meeting for this purpose will take place in London as early as next week, accompanied by close coordination with the Americans and Israel.

Message of unity

“Today's message is one of hope. It is also a message of preparation and a message of unity,” said Macron. The Europeans stand with the countries of the Gulf region; Asia; the African continent; Latin America; and the Pacific.

After a weeks-long blockade due to the Iran war, the leadership in Tehran announced its intention to reopen the Strait of Hormuz to oil tankers and commercial vessels shortly after the Paris conference began. Conversely, the US intends to maintain its own naval blockade. This blockade only affects ships with a port of departure or destination in Iran, as president Donald Trump emphasised.

Belgian luxury brand Delvaux has had its financial burden lightened. Parent company Richemont has forgiven 100.6 million euros (118.7 million dollars) of its debt, according to a report by Belgian business-focussed newspaper De Tijd. The debt has been converted into shares.

This move strengthens Delvaux's balance sheet. It is not the first time the Belgian brand has received help from its Swiss parent company. A loan of 90 million euros was provided in 2022, shortly after Richemont acquired Delvaux in 2021.

Founded in 1829, Delvaux is known as the world's oldest luxury leather goods company.

At the time of publication, neither Richemont nor Delvaux had commented on the debt restructuring.

UK-based group Associated British Foods (ABF) is anticipated to present a strategy to decouple its Primark fashion business from its diversified food portfolio this Tuesday, according to Reuters. The move follows a comprehensive structural assessment intended to enhance long-term shareholder value.

Primark currently maintains a retail footprint of 486 stores across 19 international markets. Despite its scale, the fashion retailer experienced a 2.7 percent decline in underlying sales during the Christmas quarter.

Primark separation remains working assumption

The London-based parent company initiated the structural review last year, supported by advisory firm Rothschild. ABF chief executive officer, George Weston, indicated in November that the findings are scheduled for release by April 21, 2026, to align with the announcement of first-half results.

Weston noted that the separation of the clothing chain is the “working assumption” for the board. This strategic shift is being coordinated with Wittington Investments, the holding company for the Weston family, which intends to retain majority control over both business units post-separation.

The structural evaluation arrives as ABF shares have recorded a 14 percent decrease over the last year. By separating the high street retailer from the broader group, the board aims to address valuation discrepancies between its retail and food segments.

Management restructured ahead of transition

ABF has formalised the leadership at the fashion division by appointing Eoin Tonge as the permanent CEO of Primark. Tonge, formerly the group finance chief for ABF, has led the retailer in an interim capacity since March 10, 2025, following the sudden departure of Paul Marchant.

The executive team has been further expanded with the recruitment of Filip Ekvall, a former executive at Swedish brand H&M. Ekvall joins the company in the newly established position of chief commercial officer.

These appointments mark a significant reinforcement of the Primark leadership structure as the brand prepares for a potential standalone future.

Despite the war with Iran, German ships in the Gulf region can continue to be insured. This was announced by the German Insurance Association (GDV).

“Insurers are adjusting terms and prices, but are not pulling out,” said Jörg Asmussen, general manager of the GDV. War risk insurance, which typically covers damage from incidents such as mines, is also still being offered by insurers.

According to the German Shipowners' Association (VDR), shipping companies generally take out war risk insurance for voyages through and stays in high-risk areas. The VDR also represents shipping companies whose vessels are stranded in the Persian Gulf, where traffic in the Strait of Hormuz has largely come to a halt. The association states that at least 50 ships from German shipping companies are currently stranded in the Gulf.

Insurers exercised termination rights

In early March, shortly after the war with Iran began at the end of February, the GDV announced that marine insurers were exercising their termination rights on war risk policies. According to the VDR, insurers subsequently offered coverage at significantly higher prices.

This is “a standard procedure when the risk situation changes at short notice,” the VDR stated. This has resulted in high additional costs for shipowners. For large merchant vessels, six to seven-figure sums must be paid to insure them against war damage.

Insurance brokers: prices have multiplied

Raik Becker, who works for the insurance broker Marsh Risk and negotiates with insurers on behalf of shipping companies, told the German Press Agency on Wednesday that the price of war risk insurance has multiplied since the war began. He noted that, based on experience, they are on average five to six times higher than before.

Becker added that shipping companies must pay approximately 3 to 7 percent of a vessel's value for an insured voyage through a high-risk area such as the Gulf. War risk insurance is also available for ships stranded in the Gulf. In such cases, a specific time frame is agreed upon for the policy's validity.

The Strait of Hormuz is a sea passage south of Iran and one of the most important routes for the oil and gas trade. Iran is threatening free navigation in the strait and has largely brought traffic to a standstill. The US established a naval blockade on Monday.

The stock market surge of the former shoe company Allbirds, following its surprising pivot to the artificial intelligence (AI) business, is losing steam. The stock fell by more than 35 percent on Thursday after its price had previously increased approximately sevenfold.

Allbirds was once a popular shoe brand, particularly in tech circles, which originally started in New Zealand. Following its stock market debut in 2021, Allbirds was temporarily valued at around four billion US dollars. A few weeks ago, however, the business was valued at less than 40 million dollars and was on the brink of collapse.

New start as an AI specialist?

The company then suddenly announced a new start as a provider of artificial intelligence infrastructure under the name NewBird AI. A previously unnamed investor announced plans to invest up to 50 million dollars in the company. The share price subsequently jumped from around 3 dollars to approximately 21 dollars. On Thursday, it fell back to the 10-dollar mark.

Analysts attributed the rise, in part, to investors' tendency to jump on anything related to AI. The development is reminiscent of the situation a few years ago when simply announcing something related to digital currencies like Bitcoin was enough to trigger stock price increases. Gene Munster of Deepwater Asset Management told the financial service Bloomberg that even if the Allbirds announcement lacks substance, enthusiasm and potential are enough for investors. He added that the plans also have a “healthy dose of absurdity”.

Interview

"I wanted a product that would eliminate the compromise between beauty and practicality, helping women to live with more freedom and light-heartedness," says Asia Pellegrini, the under-30 founder of Nothink Shoes, the brand for all heel lovers.

The idea came from Asia Pellegrini, the under-30 founder of this shoe label. It was made possible by the Heelchanger system, the result of over ten years of research and development. The shoes allow the wearer to easily switch from high to low heels, or vice versa, choosing between heights of 3 centimetres, 7 centimetres and 10 centimetres and seven types of heels. The collection is produced in Spain by artisans with over 30 years of experience using high-quality Italian materials. It is sold on the brand's e-commerce site and includes versatile models. By reducing the need to buy multiple pairs of shoes, the brand also promotes a sustainable approach to fashion.

FashionUnited interviewed Asia Pellegrini, the brand's founder, to understand the genesis and strategy of the company Nothink srl, which is based in Azzano San Paolo, in the province of Bergamo, Italy.

How did this idea come about?

I was living in London and I saw girls and women who, after getting off the tube and arriving at their destination, would take their heeled shoes out of their bags to replace their trainers or flat shoes. The fact is, as we know, that outfits designed for high heels are often not flattering with flat or athletic footwear. So I started thinking about a solution. I envisioned a shoe that could transform from high-heeled to more comfortable, at least enough to avoid carrying a 'spare' pair, which is also complicated. I searched the market and found the German brand Mime et moi, which sold a type of shoe that allowed you to change the heel. No sooner said than done: I bought them because I wanted to see if they 'worked well' and were aesthetically pleasing. They were indeed comfortable and functional, both in the high and low heel versions. Most importantly, once on, you couldn't tell it was a shoe with an interchangeable heel. The only thing that left me a little perplexed was the aesthetic; some had velcro, in short, not my ideal shoe. So I tried to contact the company to propose a collaboration. They never replied.

So you decided to go it alone?

Yes, I contacted two engineering firms and asked if it was feasible to patent a mechanism that would not conflict with the existing patent. The answer was that it would not be easy and there would be difficulties. Some time passed and I received a newsletter from the German brand announcing that the company was closing down. I seized the opportunity and wrote again to see if they intended to sell the patent rights. After six months of negotiations, we reached an agreement. It was a long process because, unfortunately, it involved three partners who had decided to abandon the brand as they no longer got along. In the meantime, I went to Spain to visit the company that produced them.

Where exactly are the shoes produced?

In Alicante, Spain. It is actually three different factories: one produces the sole components; another produces the heels; and the third assembles the shoes. These three facilities are all located in the same small town and had been collaborating with the German company for over 10 years. They had been involved from the very beginning, first in the creation of the prototype and then in the actual production. So in 2023, we started creating the new models and did some testing. In 2024, we were ready and launched on the market with our e-commerce site, which is still our main channel for selling shoes in Europe, America and South America. We recently attended a trade fair in Dubai, the International Apparel and Textile Fair, and the response was very positive.

The price of the shoe, around 250-280 euros, includes one high and one low heel. This is in line with this market, as are the current models. If you want to buy other heels, a set starts from 35 euros. Today, in fact, the shoe has a structural limitation in that the sole has to move, so it cannot be completely closed. The central part must remain open. Therefore, it is obviously not wearable in Italy or where it is cold in winter. We are currently looking into developing a boot, but we are in the early stages.

What was the initial investment?

The initial investment was around 100,000 euros to acquire the patents, i.e. the patent registered in several countries, and some stock.

What was your turnover last year?

Around 50,000 euros, and we expect to double that in 2026.

What are the primary markets?

The market that is currently responding best is Spain. This is because I have a Spanish partner. In fact, in 2024, a girl who had the same idea as me contacted me. She is a 22-year-old girl from Valencia: Luna Talavera Garcia. She is very good and dedicates herself to this brand full-time, while I also have another job. Luna manages the Tik Tok and Instagram channels; today we have almost 250,000 followers. She creates content in Spanish, explaining how the mechanism actually works. She also explains that the price is justified by the fact that the sole has 20 components and it is an artisanal shoe, as it is made entirely by hand with high-quality Italian leather. The collection also includes models in faux leather and fabric, always of high quality as the material must be flexible and durable.

Germany is the second market for us and Italy is the third, followed by England, where my idea originated. With Brexit, unfortunately, those who order online have to pay high duties. The goal, therefore, is to find a partner in the country.

So at the moment, digital and e-commerce are the preferred channels in your strategy?

Yes, in the future we are also thinking of participating in some trade fairs in Italy. Last year we opened a temporary pop-up in Milan and involved the press and potential customers who wanted to try on the shoe. The next pop-up will be opened in Paris. Shops often ask us for the footwear, but stock management can be a bit complex, also because of the set of additional heels that need to be kept.

Madrid – Spanish fashion giant the Inditex has become the latest major corporation to fall victim to a cyberattack. An “unauthorised access” to the company's computer databases, containing customer information from various markets, has been reported. However, it is specified that this breach has not affected customers' personal or banking information.

According to a statement from Inditex's management, the breach of customer databases was detected on the servers of one of its technology providers. These infrastructures suffered a cyberattack that affected both Inditex and other companies with international operations. Following the attack, the Spanish fashion multinational, parent company of chains such as Zara, Bershka, Pull&Bear and Massimo Dutti, “immediately” implemented its security protocols. It also notified the relevant authorities. This was the result of a security breach on the servers of that third-party technology provider, where the company's compromised databases are hosted. Inditex reiterates that the incident “in no case” affected the personal and banking information of customers, who “can continue to access and operate with complete security”.

“Inditex has identified an unauthorised access to its organisation's databases hosted by a third party. These databases contain information about the commercial relationship with customers from different markets, but in no case do they contain data such as first and last names, telephone number, address, passwords, bank cards or other means of payment,” stated the Spanish fashion multinational in the aforementioned statement. Once the breach was detected, “Inditex immediately applied its security protocols and has initiated the notification to the corresponding authorities about this unauthorised access, which originates from an incident suffered by a former technology provider that has affected several companies with international operations”. In the case of Zara's owner, “Inditex's operations and systems have not been affected in any way” as a result of the cyberattack, and therefore, it is assured, “customers can continue to access and operate with complete security”.

A growing risk for companies

With this breach of its databases containing commercial information from customers in different markets, Inditex joins the growing list of companies and groups in the sector that have recently fallen victim to similar cybersecurity breaches, both in their own and third-party structures. Recent examples include breaches detected by Nike, Mango, El Corte Inglés and Tendam. In the case of the three Spanish companies, a breach of customers' personal data was reported.

Aware of this growing potential risk, especially within a multinational company like Inditex that has adopted an omnichannel business model, the company created and launched a Cybersecurity Advisory Committee in 2023. This is an independent body from its Audit and Compliance Committee. Its purpose is to advise the company on matters related to information security and cybersecurity. These are included among the potential technological risks for the company, given the “high degree of digitalisation and technological integration of Inditex's business model”. This nature leads the company to estimate, as stated in its 2025 Annual Report, that “the eventual materialisation of technological incidents—arising from factors such as infrastructure failures; cybersecurity incidents; application errors or difficulties in interacting with third-party technologies—could have a cross-cutting impact on the Group's activity, affecting the normal development of operational and commercial processes”.

To continue mitigating these potential risks, “throughout 2025, we continued to strengthen our defence capabilities to improve detection and response to threats such as DDoS attacks, credential stuffing and third-party vulnerabilities,” such as the one just identified, the Report adds. To achieve these objectives, the company has a specialised cyber-intelligence team responsible for continuous monitoring and early detection of risks and threats. It also has a Security Operations Centre (SOC) available 24 hours a day, seven days a week, which is responsible for the detection, analysis, notification and resolution of potential “security events” that may affect Inditex.

In 2025, a total of 66 “events of interest” were recorded. “The most relevant” of these were “reported to the Information Security Committee”. However, “none of these events” had a “significant impact on our operations or our financial statements”. This highlights how cybersecurity has become an increasingly critical area for companies. Therefore, in addition to the above, during 2025, Inditex carried out intrusion prevention measures and individual cybersecurity training programmes, providing specialised training to more than 4,000 team members.

French luxury group Kering announced on Thursday during its Capital Markets Day that it will acquire a minority stake in the Chinese group ICCF (Icicle Carven China France). The investment is part of the “House of Wonders” initiative, through which Kering aims to support selected “emerging luxury brands”.

According to the group, the transaction is part of a “strategic partnership” aimed specifically at strengthening the fashion brand Icicle, which belongs to ICCF. The plan is to drive the label's international expansion and expand its range with additional product categories, Kering explained.

Founded in Shanghai in 1997, the brand combines sustainable materials with subtle tailoring and traditionally represents a “quiet luxury” aesthetic. Icicle offers ready-to-wear collections for men and women, as well as accessories, and currently operates more than 200 stores, including flagship stores in the major cities of Beijing, Shanghai and Paris.

The investment also underscores the French group's strategic goal of strengthening its presence in the Chinese market. “This partnership combines ICCF's deep understanding of the Chinese luxury ecosystem and cultural landscape with Kering's long-standing expertise in craftsmanship, operations and brand development in Europe,” a statement read.

Consumer prices (February)

Fashion prices in the UK rose 0.9 percent year-on-year in February, well below the overall inflation rate of 3.0 percent, according to the Office for National Statistics (ONS). This marks a return to positive territory after two months of flat clothing and footwear inflation in December and January. Month-on-month, clothing and footwear prices rose 0.6 percent as spring collections reached stores.

The 2.1 percentage point gap between fashion inflation and headline inflation means clothing is becoming relatively cheaper for consumers, a pattern that has persisted for several months.

Retail sales (February and March)

Clothing store sales volumes stood at 99.9 in February, virtually unchanged from January's 100.9, according to ONS. In value terms, the index was 103.0, confirming that revenue growth was entirely driven by prices rather than volumes. The three-month rolling trend turned negative at minus 1.7 percent, down sharply from plus 5.2 percent in September, signalling a loss of momentum in clothing retail.

Online clothing sales held steady at an index of 107.6 with average weekly sales of 319.7 million pounds, according to ONS. The online share of clothing retail remained at 28.6 percent, broadly stable throughout recent months.

More recent card spending data from Barclays, which covers roughly half of all UK card transactions, painted a more positive picture. Clothing spend rose 3.6 percent year-on-year in March, following a 3.7 percent increase in February, according to Barclays. The gap between the ONS volume decline and the Barclays spending increase suggests consumers are buying fewer items at higher prices.

The Confederation of British Industry (CBI) Distributive Trades Survey, however, reported that retail sales volumes fell at the sharpest pace since April 2020 in March, with a balance of minus 52, according to the CBI. Retailers described sales as "poor" for the time of year and expect a similar decline in April.

Easter weekend footfall rose 3.4 percent year-on-year across UK destinations, with shopping centres up 9.0 percent and high streets up 4.1 percent, according to MRI Software.

Macro context (March)

Consumer confidence stood at minus 21 in March, according to market research firm GfK, down from minus 16 in January. The Bank of England (BoE) base rate held at 3.75 percent. Unemployment stood at 5.2 percent in the three months to December, according to ONS, up from levels below five percent earlier in 2025. The pound traded at approximately 1.36 dollars according to the BoE.

The bottom line: UK fashion retail presents a contradictory picture. Official ONS data shows clothing volumes turning negative, yet Barclays card data shows spending still growing at plus 3.6 percent. The resolution: consumers are buying fewer items at higher prices. The CBI's minus 52 reading for March is alarming, but Easter footfall and Barclays spending suggest the picture is not uniformly bleak. Fashion inflation at plus 0.9 percent against 3.0 percent headline inflation means the sector continues to absorb cost pressures rather than passing them to consumers.

• It should be noted that the underlying figures are based on different reporting periods: whilst price data and sentiment indicators can already available for March, retail turnover figures are reported with a time lag due to survey and publication cycles and, in this case, still refer to February. This time lag is common practice and nevertheless allows for a reliable assessment of current market trends.

Artificial intelligence will fundamentally reshape fashion wholesale.

Predictive reorder optimisation.
Dynamic allocation steering.
Margin protection.
Automated performance control.

But AI cannot optimise what it cannot see.

AI does not learn from PowerPoint.
AI does not learn from email threads.
AI does not learn from intuition.
AI learns from structured behavioural sales data.

And that data is created in one place:
Sales meetings.

If brands do not start capturing that data today, they will not have it tomorrow.

Learn more about FIRE’s wholesale architecture:
https://www.fire-digital.com/en/products/why/data-driven-insights

The Real AI Gap in Fashion Wholesale

Many organisations consider themselves data-driven.
In reality, the most valuable layer is missing.

ERP captures confirmed orders.
CRM tracks opportunities.
BI tools analyse past performance.

What is not captured:

• Which styles were discussed but not ordered
• Which variants were reconsidered
• Which size curves were adjusted
• Where hesitation occurred
• Where early reorder signals emerged
• How different markets reacted to the same SKU

This is real sales intelligence.
And in most organisations, it disappears after the meeting.

If You Are Asking These Questions

If you are a CSO, CIO or CEO asking:
How do we make our wholesale organisation AI-ready?
What data does AI really need in fashion wholesale?
Is ERP data sufficient for predictive forecasting?
How do we structure sales decision behaviour globally?
How do we build a future-proof data architecture without hidden dependencies?

Then the answer is not another reporting layer.
The answer is structured decision capture at the source.

FIRE Captures What Others Lose

FIRE structures wholesale sales execution end-to-end – from preorder to reorder to ongoing performance steering.

It captures:

• Digital showroom interaction
• Clicked styles and variants
• Selected and rejected SKUs
• Assortment adjustments during meetings
• Size curve modifications
• Reorder activation timing
• Cross-market sell-out signals

Every interaction becomes a structured data point.
Every market contributes to a shared longitudinal dataset.
Every season builds decision intelligence capital.

This is not retrospective reporting.
It is systematic decision capture.

Longitudinal Data: The Hidden Competitive Advantage

AI becomes powerful over time.
One season of data is interesting.
Three structured seasons are strategic.
Five seasons create competitive advantage.

Brands that begin capturing structured behavioural data today accumulate:

• Behavioural trend baselines
• SKU sensitivity patterns
• Market response logic
• Reorder timing models
• Margin correlation insights

Brands that delay will start without historical depth.
Behavioural wholesale data cannot be reconstructed retroactively.
It must be captured when decisions happen.

Private Cloud SaaS – Structured, Not Exploitative

FIRE is delivered as SaaS.
But it is not a shared marketplace ecosystem.
Each customer operates in a dedicated private cloud environment.

This ensures:

• Brand-level data isolation
• No cross-client pooling
• No aggregated behavioural intelligence across competitors
• No hidden data monetisation
• No usage of your data for external optimisation models

Your wholesale data remains your strategic asset.

Middleware in Action – Why Architecture Matters

FIRE actively uses a middleware layer to synchronise data between:
ERP
CRM
Wholesale execution

This ensures:

• Clean and stable integration
• Transparent data flows
• Upgrade safety
• Structured and consistent datasets
• Architectural clarity

Lock-in occurs when data becomes inaccessible or trapped in proprietary silos.

FIRE follows a different principle:
Data is structured, not enclosed.
Systems are connected, not replaced.
Architecture remains transparent and scalable.

SaaS here means service and scalability – not opacity or dependency.

From Local Conversations to Global Intelligence

Without structured capture:
A buyer hesitation in Milan remains local knowledge.
A bestseller signal in New York remains regional insight.
A size curve adjustment in Tokyo remains isolated nuance.

With FIRE:

• Sales decisions become globally visible
• Behavioural patterns become comparable
• Executives gain real-time transparency
• AI models learn from real decision behaviour

Local sales meetings become global intelligence assets.

Practical Example: Preparing for AI Before It Fully Arrives

A global fashion brand planned to implement AI-supported reorder optimisation.
Instead of waiting for advanced algorithms, it focused on data readiness first.

Before FIRE:

• Sales meetings were undocumented
• Behavioural signals were lost
• Data was fragmented across systems
• AI pilots lacked meaningful depth

After implementing FIRE:

• All sales interactions were systematically captured
• SKU-level behavioural datasets accumulated season over season
• Cross-market decision patterns became visible
• AI models could be trained on real behavioural history
• All data remained within the brand’s private cloud environment

The brand did not wait for AI maturity.
It built the data foundation early.

Executive Reality: AI Is a Timing Strategy

The future difference between brands will not be:
Who purchased AI tools first.

But:
Who started building structured decision data early.

ERP stores transactions.
CRM stores relationships.
FIRE stores decisions.

AI learns from decisions

Executive Summary

AI requires structured behavioural sales data.

That data is created during sales meetings.
If it is not captured, it disappears.

FIRE structures that data at the source.
In a private cloud SaaS architecture.

With active middleware integration.
Without data pooling.
Without hidden agendas.
With full brand-level data sovereignty.

FAQ – AI, Sales Data and Wholesale Intelligence

Why does AI need behavioural sales data in wholesale?
Artificial intelligence learns from patterns in decision behaviour, not only from confirmed transactions. Behavioural sales data reveals which products were considered, compared, rejected or reordered during sales meetings. This information helps AI models understand demand signals and predict future purchasing behaviour more accurately.

Is ERP data sufficient for AI-driven wholesale forecasting?
ERP systems mainly store confirmed orders, invoices and inventory movements. While this data is valuable, it does not explain why sales decisions were made. For AI-driven forecasting, companies need behavioural sales data captured during product presentations, assortment discussions and preorder decisions.

What is behavioural sales data in fashion wholesale?
Behavioural sales data describes how buyers interact with products during the sales process. Examples include which styles were clicked, compared, selected, rejected or reordered. When structured properly, these interactions provide valuable signals for analysing demand and identifying emerging trends.

Why should brands start capturing sales decision data now?
AI models improve with historical depth. The earlier brands begin capturing structured behavioural sales data, the stronger their future predictive capabilities become. Sales decision behaviour cannot be reconstructed retrospectively, which makes early data capture strategically important.

How does FIRE capture sales decision behaviour?
FIRE structures the wholesale sales process from digital showroom interaction to preorder and reorder workflows. During sales meetings, product selections, assortment adjustments and buyer interactions are captured automatically and stored as structured behavioural datasets.

How does data architecture influence AI readiness?
AI systems require consistent and structured datasets. When sales decisions are captured across markets and seasons in a unified architecture, the data becomes suitable for training predictive models and supporting AI-driven wholesale optimisation.

About FIRE

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

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

• Global capture of sales decisions
• Unified preorder and reorder workflows
• Real-time cross-market visibility
• Active middleware-based integration
• Longitudinal behavioural datasets
• Private cloud SaaS architecture
• Full brand-level data sovereignty

AI will only be as powerful as the data it learns from.
FIRE ensures that data is captured today.

Structured.
Globally visible.
Fully under your control.

Learn more:
https://www.fire-digital.com/en/products/products/overview

UK-based supermarket giant Tesco has reported a robust performance for its fashion division, F&F, for the 53 weeks ended February 28, 2026.

According to the group's preliminary results, F&F clothing sales increased by 5.1 percent to over 1.2 billion pounds (1.63 billion dollars). This growth was supported by a strong performance in womenswear, particularly within activewear and the curated ‘F&F Edit’ ranges.

The retailer attributed the division's success to its like-for-like (LFL) sales growth of 5.1 percent. A significant driver during the period was the launch of F&F Online, which provided customers with access to a more comprehensive range of apparel. This digital expansion aligns with the group's broader goal to meet more everyday customer needs through its existing retail ecosystem.

Strategic focus on digital and value

Tesco chief executive officer Ken Murphy noted that the company remains committed to managing costs for consumers amidst global economic uncertainty. The group has evolved its strategic ambitions into five reinforcing goals, including a focus on being ‘connected, personalised and loved by customers’. This includes leveraging artificial intelligence (AI) to enhance the shopping experience.

The retailer is currently trialling a large-scale AI assistant with approximately 280,000 colleagues, with plans to roll the technology out to customers later this year. For the fashion segment, the integration of F&F into the group's digital platforms, including the Tesco Marketplace which offers over 450,000 stock keeping units (SKUs), remains a priority for generating capital-light revenue.

Financial overview and outlook

On a group level, Tesco reported sales of 66.59 billion pounds, representing a 4.3 percent increase at constant exchange rates. Adjusted operating profit rose by 0.6 percent to 3.15 billion pounds. The company’s ‘Save to Invest’ programme has now delivered over 2.2 billion pounds in savings over the last four years, which continues to fund price investments and colleague pay increases.

Looking ahead to the 2026/27 financial year, the group expects to deliver an adjusted operating profit of between 3 billion pounds and 3.3 billion pounds. Capital expenditure is anticipated to rise to approximately 1.6 billion pounds as the group continues to invest in technology, digital capabilities, and the optimization of its distribution network.

Backcountry, the premium retailer of outdoor gear and apparel, has launched a brand incubator, designed to accelerate and grow the next generation of outdoor brands, and has acquired Utah-based eco-focused Coalatree as the first brand for the platform's portfolio.

The incubator platform is called Backcountry Garage, and has been designed to advance Backcountry’s vision to provide the best outdoor gear, curate innovative products, and make them accessible to a growing community of outdoor enthusiasts, while investing in “the next generation of brands shaping the outdoor industry”.

“By creating space and support for new builders and tinkerers, Backcountry taps back into its entrepreneurial roots and encourages new voices to enter the fray,” explained the brand in a statement.

Kevin Lenau, president of Backcountry, said: “At Backcountry, we believe constant innovation is the most powerful way to improve our customers’ experience outside.

“Backcountry Garage is how we keep pushing when much of the industry is waiting, partnering with builders and founders who are rethinking how great gear should perform so our community feels the difference every day on the trail, at the crag, and in their own backyards.”

The first brand acquired for the Backcountry Garage platform is the eco-minded outdoor apparel and gear brand Coalatree, founded in 2010, which has become known for its popular trailhead pants and 3-in-1 Kachula blankets.

With the new partnership, Coalatree will continue to sell through its direct-to-consumer site, “preserving its distinct voice and community,” while select key styles will also be available at Backcountry.com.

JM Fabrizi, president of Coalatree, has been appointed as the director of Backcountry Garage, where he will oversee Coalatree’s next stage of growth, while also establishing the incubator as the hub for “differentiated, community‑focused products and brands that reflect Backcountry’s values of quality, sustainability, and access”.

“The Coalatree community has helped shape every product we make, from our best‑selling Trailhead Pants to packable layers and 3‑in‑1 Kachula blankets,” added Fabrizi. “Partnering with Backcountry means Coalatree can stay close to that community, obtain feedback on a larger scale, and bring new ideas to life that were too big for Coalatree to tackle alone.”

Florence, Italy - French luxury group Kering is at a “turning point”, its chief executive officer Luca de Meo said on Thursday. He was presenting the company's new strategic plan in Florence, Italy.

To return to growth, the executive highlighted a series of measures, particularly for its flagship brand Gucci, with a “significant” move “upmarket in quality”.

“Our priority is to make Gucci a must-have again,” said de Meo. The double-G brand has seen poor results for the past three years.

“You have to recognise it's Gucci in a second. That doesn't mean covering the world in GGs (the brand's logo, ed.). It can also be discreet,” said de Meo, who spoke of a “renewed identity”.

Kering (which also owns Yves Saint Laurent, Bottega Veneta, Kering Eyewear, Boucheron, etc.) aims “to generate an additional one billion euros in revenue from leather goods by 2030” for the brand, the executive stated.

“Customers notice quality, they notice consistency and they remember it,” he assured, adding that the house would have 30 percent fewer points-of-sale by 2030.

According to figures published on Tuesday, Gucci's sales continued to decline in the first quarter (down 14 percent over the period) to 1.35 billion euros (1.59 billion dollars), down 8 percent excluding currency effects.

Kering will also implement measures for the Chinese market across all its houses. This is a key region for the luxury sector. The group plans to significantly increase marketing and sales budgets and close points-of-sale there.

US sustainable footwear company Allbirds has announced a radical shift in corporate strategy, transitioning from a fashion retailer to an artificial intelligence (AI) compute infrastructure provider. The San Francisco-based firm, which recently divested its brand assets, intends to rename itself NewBird AI as part of a pivot toward the technology sector.

The announcement triggered a significant reaction on the Nasdaq, where shares surged more than five-fold on Wednesday. The stock increased 435 percent to 13.33 dollars, resulting in a market valuation of 116 million dollars. Despite this recent rally, the company has experienced a substantial decline since its 2021 debut, where it reached a valuation of 3 billion dollars before losing approximately 99 percent of its market value.

Divestment of footwear assets and brand legacy

This strategic overhaul follows the company entering into a definitive agreement to sell the Allbirds brand and footwear assets to US-based American Exchange Group. The asset sale, valued at 39 million dollars, marks the end of the firm's tenure as an independent footwear operator.

The company has executed a definitive agreement with an institutional investor for a 50 million dollars convertible financing facility. This capital is earmarked for the acquisition of high-performance graphics processing units (GPUs) to serve the growing demand for AI compute capacity.

Independent retail consultant Bruce Winder told Reuters that the move appears to be an attempt to capitalise on the current AI movement. Winder expressed skepticism regarding the company's competitive advantage in the sector beyond its existing name recognition. The pivot comes as Allbirds has been closing the majority of its brick and mortar stores due to muted consumer demand and a strategic shift toward online partnerships.

NewBird AI aims to address the global shortage of specialised, high-performance compute resources. The long-term objective for NewBird AI is to evolve into a fully integrated neocloud platform.

French luxury giant Kering has announced a recovery plan as the group continues to struggle. On Thursday, it revealed measures that include more than doubling its operating margin rate in the medium term.

The group began a transformation last year under its new chief executive officer, Luca de Meo. It now aims to achieve an operating margin rate of at least 22 percent in the medium term, it said in a statement, without specifying an exact timeline.

Kering's strategy for its revival

Kering also plans to dedicate 5 to 6 percent of its turnover to developing sustainable organic growth for its houses. The group is also considering targeted acquisitions, particularly to secure its raw material supplies.

The group aims for a “progressive outperformance of the market,” it said, without providing further details. Changes are also being implemented for Gucci, which has particularly struggled in recent years. The Italian brand generates approximately 40 percent of the group's turnover. For Gucci, Kering plans “a strengthened leather goods offering” and “higher quality standards”.

“More targeted local strategies and an optimised distribution model will allow the brand to be more relevant in its markets, strengthen its exclusivity and guarantee its speed of execution,” Kering stated.

Furthermore, the company is considering acquisitions “aimed primarily at strengthening know-how, vertical integration and securing raw materials,” it specified. The group did not disclose the amount that could be dedicated to these operations.

These announcements were made just before Luca de Meo presented Kering's new strategy to investors in Florence, the birthplace of Gucci, on Thursday morning.

Like other companies in the sector, Kering has suffered from a slowdown in recent years. This was caused in particular by weaker demand in China, one of the main luxury markets.

The group has also suffered from a significant decline in Gucci's popularity. The Italian house has a new CEO and a new artistic director, Demna Gvasalia, who presented his first collection in the autumn. However, these efforts have yet to yield results.

In the first quarter, Gucci's sales fell by 14 percent, or 8 percent on a like-for-like basis, which was below expectations. Kering's total turnover for the period fell by 6 percent, remaining stable on a like-for-like basis.

The US-based global retail platform Vince Holding Corp. has reported its financial results for the fourth quarter and fiscal year ended January 31, 2026, revealing a resilient performance despite significant headwinds from the reorganization of Saks Global.

The company is now pivoting toward international flagship expansion and an enhanced direct-to-consumer (D2C) model to drive future growth.

Strategic response to Saks Global reorganization

During the earnings call, executives addressed the impact of the Saks Global situation, which created a sales headwind of approximately 2 million dollars during the fourth quarter. The reorganization also resulted in a 6 million dollar bad debt expense, which significantly impacted the quarterly loss from operations.

Vince chief executive officer, Brendan Hoffman, noted that Saks Global recently represented less than 7 percent of total sales. Hoffman expressed confidence in the current clarity regarding the situation, stating: “We are working with our partners there as they move forward in their plans.”

To mitigate wholesale risks, Vince is deepening its relationships with other key partners. The company reported strong results from its presence in Bloomingdale’s and recently executed successful events with Nordstrom in Dallas and Los Angeles.

International expansion and flagship ambitions

Following the success of its second London-based store in Marylebone, which exceeded internal expectations, the company is looking to gateway cities for further growth. The company has identified Paris as a primary target for a flagship location within the next two years.

Hoffman emphasized that the Marylebone success has raised the bar for international entries. The company intends to focus on high-productivity locations rather than a rapid increase in total store count. Domestically, the strategy involves rationalizing the existing fleet, which ended the fiscal year at 55 company-operated Vince stores, to maximize productivity within current footprints.

The company is increasingly leveraging its digital platform through expanded drop ship capabilities. In spring/summer 2026 (SS26), Vince will introduce handbags, tailored clothing, belts, and accessories to the drop ship model. This strategy allows the brand to offer a broader assortment with minimal inventory risk by utilizing the stock of licensed partners, such as Caleres for footwear.

The menswear business remains a significant growth lever. Men’s apparel represented approximately 24 percent of total sales at year-end, with management targeting a 30 percent penetration rate. This growth is expected to be driven by expanded assortments in physical stores and the e-commerce platform, alongside increased wholesale partnerships.

Fiscal year financial overview

For the fiscal year ended January 31, 2026, total company net sales increased 2.2 percent to 300 million dollars. The growth was primarily supported by a 4.8 percent rise in the D2C segment.

Gross profit was 149.10 million dollars, or 49.7 percent of net sales. Net income reached 6.40 million dollars, or 0.49 dollars per share, compared to a net loss of 19 million dollars in the previous fiscal year. Adjusted EBITDA was 15.10 million dollars, up from 14 million dollars in fiscal 2024.

Despite the quarterly loss from operations of 2.90 million dollars, which was heavily influenced by the Saks-related bad debt, the company’s full-year performance showed a return to profitability. Higher pricing strategies helped offset 250 basis points of pressure from tariffs and 130 basis points from increased freight and distribution costs.

Looking ahead to fiscal 2026, Vince expects net sales to increase between 3 percent and 6 percent year-over-year. The company also aims to achieve an adjusted operating income margin of approximately 3.5 percent to 4 percent as it continues to transition into a multi-brand support platform in partnership with Authentic Brands Group (ABG).

For Kelly Cook, it has been a busy first year as CEO of David’s Bridal. Since taking up the helm position, Cook has enacted a number of initiatives under the transformation strategy, ‘Aisle to Algorithm’, intended to reposition the company as a digital-first global resource for independent boutiques and enterprise accounts targeting the modern-day bride.

The identity shift has seen David’s Bridal move beyond simply serving as a retailer and into an “AI-powered marketplace, media network and planning ecosystem”. Recent launches have included ‘Pearl Planner’, an AI-driven wedding planning agent; ‘Travel by David’s’, a platform for customers to plot out wedding-related trips; an ambassador programme to scale creator-led commerce; and ‘Breaking Bridal’, an original video series covering the weddings of modern couples.

Within its retail network, the company has also applied a future-centric approach, striving for an asset-light model with a vertically integrated supply chain. Its newest store concept, ‘Diamonds & Pearls’, has been established as a premiumised, omnichannel experience now operating from two locations. A recent expansion into Mexico, meanwhile, is carving out a path for broader international growth, after what was described as a “replicable” shop-in-shop format was introduced to the country’s Liverpool retail destination.

In terms of collection, both curation and diversification have been central to the strategy. A renewed exclusive partnership with Vera Wang Bridal, for example, was the beginning of an eventual shift into wholesale for David’s Bridal, which last month established a dedicated division for this arm. The debut of a menswear collection last year, as well as a more recent venture into Indian bridal through a partnership with designer Kynah reflect the potential of emerging markets the company is tapping into to broaden its consumer base.

Collectively, the far-reaching strategy seems to address nearly all touchpoints of a couple’s wedding planning process, while also taking into account the evolving needs of the modern bride. “We have fundamentally moved from a legacy retailer to a high-velocity media content, entertainment, and technology engine,” Cook stated last month. To get more insight, FashionUnited spoke to Cook to discuss the intricacies of David’s Bridal accelerated transformation and what the executive has in store for the future.

On Indian bridal expansion

What led to the decision to enter the Indian bridal market, and why was it a strategic priority for the business now?

At David’s, we exist for magical moments. All of them. We want to serve every bride, everywhere. In doing our research, we were so inspired by the Indian brides, the celebrations, the traditions - not to mention the absolute beauty of the gowns themselves. The weddings unfold over several days, not as a single event, but as a rich tapestry of love, tradition, and togetherness. From the joyful rhythms of the sangeet and the intricate henna patterns painted during the mehndi, to the solemn vows exchanged around the sacred fire, every moment is filled with intention and emotion. That is what David’s is all about.

We knew we needed to serve her. It was a massive opportunity we couldn’t ignore. We partnered with Kynah because their couture-inspired, culturally rooted designs are exactly what the modern global bride and wedding guest is looking for. As I always say, if cauliflower can become pizza, anything can happen and David’s can certainly become the ultimate destination for every culture’s "I do".

How does this expansion fit into your broader vision for cultural inclusivity, and are there other segments where you see similar growth opportunities?

Our "Aisle to Algorithm" strategy is about transforming from a traditional retailer into a marketplace platform for every bride and every celebration style. We’re bridging culture and commerce by bringing luxury and accessibility to fast-growing segments. We’re already expanding into men’s tuxedos through Generation Tux and formalwear for Quinceañeras and homecoming. We’re not just checking boxes; we’re breaking them.

On wholesale expansion

What early indicators showed that your wholesale expansion can complement direct retail as a significant revenue driver, and how is your vertically integrated model helping scale this globally?

The early indicators are very strong. Our wholesale clients are blown away. We can offer them tremendous margin opportunities while providing exquisite, luxurious designer gowns and dresses. We can do this because we own our design centers and production.

We also maintain a “tariff-resistant” production environment due to the vast global operations. We can pivot quickly to “tariff-friendly” environments - these savings, coupled with our vast scale, enables us to pass along better margins to our wholesale clients. One of our first small business partners told us we were saving them double digits on margin. When you can deliver industry-leading margins and faster fulfillment, wholesale isn't just a side hustle - it's a global engine.

How do you ensure that supporting independent boutiques through wholesale doesn’t dilute your own brand equity or differentiation?

The strategy is different. We win when we serve a bride - whether she buys it directly from us, one of our many marketplace partners, from DoorDash, or one of our boutique clients.

Better yet, all of our partners can maintain exclusivity. Our initial wholesale offering features capsule collections from iconic names like Vera Wang Bride, Oleg Cassini, Viola Chan Couture, Galina Signature, and more, that are developed specifically for wholesale partners—you won’t find these exact gowns in our own stores. We want to provide stunning gowns to all brides, whether they buy from us or an amazing boutique partner, while keeping our own retail experience distinct.

On the Diamonds & Pearls retail concept

A year on from the launch of Diamonds & Pearls, how is this elevated concept affecting in-store conversion, customer lifetime value, and online engagement?

The response has been electric. Brides are head-over-heels for the boutique-style environment and personalised styling, especially for exclusive designers like Marchesa. It validates our vision that today’s bride wants a "tech sandwich": high-tech digital tools on the front end during inspiration and the back end while planning, but a high-touch, sacred experience when she’s standing in front of that mirror.

How are you using insights from this tech-enabled, high-touch retail model to guide where and how you scale, and how does the integration of couture-level products with AI-driven personalisation shift the store’s role from a point of sale to a hub of discovery and engagement?

Diamonds & Pearls is our laboratory for the future. By using AI like Pearl Planner to handle the 300-task planning "headache," the store stops being a place of transaction and starts being a place of magic. We’re using data to de-stress the bride so she can focus on the dream, not the spreadsheet.

On Mexico and beyond

How does the shop-in-shop model in Mexico complement or extend your elevated retail strategy, and what early insights from this partnership are shaping your approach to global customer acquisition and localised merchandising?

Our Shop-in-Shop model with Liverpool is exceeding our expectations. Our Shop-in-Shop brides are not only the “household CEOs” making all of the brand decisions for the family, but also at an age which is desirable for partners: 24 years old on average.

We are excited to bring this model to more and more of our department store partners. Our franchise locations in Mexico and our expansion into international wholesale are all part of our growth strategy. It allows us to scale our brand and our vertically integrated production platform to new markets without the heavy overhead of traditional expansion.

With the launch of Breaking Bridal, what role does original programming play in driving measurable business outcomes, and how do you see David’s evolving its content ecosystem as you expand further into entertainment?

Breaking Bridal is where bingeable storytelling meets commerce. We’re reaching 20 million viewers a month across our Pearl Media Network. Each episode is connected back to our planning tools and shoppable moments. Inspiration fuels planning, planning fuels purchasing, and purchasing fuels the community—that’s the flywheel that drives real growth.

Looking across your newer ventures, from wholesale and retail innovation to cultural expansion, which do you expect will most significantly redefine David’s Bridal over the next three years, and are there other unexpected opportunities on the horizon?

Our agentic AI, specifically Pearl Planner, is the real game-changer. It’s turning us from a dress retailer into a tech-enabled planning partner for the entire 70 billion dollar wedding market. In the future, a bride will give us a few prompts, we’ll build a fully immersive AR wedding, and she’ll hit one button to buy it all. Done.

On leadership and teamwork

You stepped into the CEO role at a pivotal moment. What has surprised you most about the business or the customer over the past year? How has your leadership approach evolved as you’ve guided the company through a significant transformation?

I started on April Fool’s Day, but the transformation has been no joke! I was surprised by how ready this industry was for a revolution. But I was mostly so incredibly energised by a team of dream makers, our employees, who want to set this industry on fire. They are bold, strategic, passionate and unapologetic about serving her - and pivoting a 75-year old retailer into a global retail, media, AI, and planning marketplace.

Internally, how have you brought teams along on this shift from a traditional retailer to a more tech- and media-driven company? What has been the biggest cultural change inside the organisation as you move toward an ‘Aisle to Algorithm’ model?

It’s all about the "servant’s heart" - you approach every conversation, every interaction, every conflict with: how can I serve her or serve the person who is?

Talent is everything. Getting the right talent is sort of like assembling Ikea furniture - if you pick the wrong part, nothing fits, and someone ends up crying.

I tell my team - if you look around your circle and you aren’t inspired, then you don’t have a circle, you have a cage. We take what we do seriously, but not ourselves. No egos. Just a fun, focused, fearless team.

What does success look like for you, not just financially, but in how brides and partners experience the brand? On a more personal level, what excites you most about redefining a brand like David’s Bridal for a new generation?

More happiness, more kindness, more joy. That’s what wakes me up every day. The world is running on three percent battery, caffeine, and too much bad news. People fussing at each other online, traffic making us question our will to live, and news treating every Tuesday like it’s the apocalypse.

We need more happiness. More kindness. More joy. Real, stupid, contagious joy! One of the only things still free! You can give it away all day and somehow you end up with more of it. It’s like magic, except it actually works.

David’s exists for magical moments. It’s a fantastic business to be in. We remember how we make each other feel. Ridiculously kind. Laugh louder. Dance badly in public. Ha! Just typing this answer puts a huge smile on my face!

We want brides to feel completely supported from the moment she gets engaged to the moment she forms her new household. What excites me is proving that a 75-year-old legacy brand can reinvent itself and win. We’re just getting started!

This article was conducted in writing.

Stock of Hermes International SA (HESAF.PK) is falling about 8 percent on Wednesday morning trading after the company reported a decline in revenue for the first quarter, to 4.070 billion euros, compared to 4.129 billion euros, last year.

The company's stock is currently trading at 1,635.00 euros, down 8.30 percent or 148.50 euros, over the previous close of 1,783.00 euros on the Paris Exchange. It has traded between 1,529.00 euros and 2,606.00 euros in the past one year.

Revenue from the ready-to-wear and accessories business fell to 1.076 billion euros from 1.149 billion euros in the previous year. Revenue from the watches business stood at 135 million euros as against 151 million euros a year ago

Paris, France - Children's fashion brand Jacadi could come under the control of the Deveaux group. The group has notified the Competition Authority of a proposed merger, the authority confirmed on Wednesday, corroborating a report by the Ouest-France newspaper.

Jacadi has been owned by the northern French group IDKIDS since 2005, which has been placed into receivership. The proceedings affect its brands Obaïbi (clothing for 0 to 3-year-olds), Okaïdi (3-14-year-olds), Oxybul (educational toys) and the logistics platform IDLOG. Jacadi is excluded from this process.

IDKIDS praised Jacadi’s “growth trajectory”, which achieved the “best performance in its history” in 2025 with a 35 percent increase in profitability.

“The Competition Authority has received notification of a proposed merger (...), consisting of the acquisition by the Deveaux family of exclusive control over the Jacadi group,” the competition watchdog wrote on its website.

The Deveaux family operates in the womenswear and menswear sector through the brands Armand Thiery, Toscane, Edji and Jacqueline Riu. It is also active in the textile manufacturing and dyeing sectors, the Competition Authority added.

The authority's role includes reviewing all proposed takeovers and mergers above a certain size in advance. This is to prevent the formation of overly dominant positions or monopolies. The review period can last for several months.

In early February, the international investment firm Blue Water Venture Partners, led by New York-based investor Joseph Hernandez, announced its intention to buy the children's fashion brand Jacadi Paris. When contacted, Jacadi had not yet responded to AFP's requests for comment.

Launched at the end of January by the Confédération des petites et moyennes entreprises (CPME), the Made in France Alliance is part of a drive to revive national industrial production.

Three months later, as new economic models redefine value dynamics, particularly those driven by the creator economy, the alliance has highlighted a series of objectives to enhance national production and recreate value within the country.

This initiative, led by the CPME, was co-founded with the CFTC; the CFE-CGC; the Made in France trade show; the Origine France Garantie label; the Union des Industries Textiles (UIT); and the Réseau Excellence EPV (Living Heritage Company).

The Made in France Alliance brings together employers' organisations, social partners and industry players around a common goal: to strengthen French industrial production in the country.

“Made in France” is seen as an economic and social project set against a competitive backdrop: pressure from Chinese ultra fast fashion platforms and the need to respond to ecological and digital transitions.

The macroeconomic objective is to increase the industry's share of GDP from 9 percent to 13 percent.

Public procurement, a central but under-exploited lever

Public procurement is considered an immediate driver of activity for SMEs. It represents at least 170 billion euros per year. However, only 22 percent of purchases are currently directed towards French production.

The challenge is to move beyond a logic based solely on price to integrate broader criteria such as local employment, tax benefits and the impact on local areas. According to a study by the UIT and KPMG, a company producing in France would reinvest an average of 84 percent of its turnover into the national economy, compared to 35 percent for an importer.

Training needed to meet industrial demands

Companies, particularly SMEs, face recruitment difficulties, especially for technical roles.

The objective is to adapt training provision to the needs of the productive fabric, while enhancing the attractiveness of industrial professions. This upskilling is seen as a way to secure career paths and to support innovation and the upscaling of French production.

Directing savings towards productive investment

The third focus is financing the industry through better mobilisation of savings. While French savings are considered abundant, they are still not sufficiently directed towards productive companies.

The Alliance thus intends to identify mechanisms to channel more capital into industrial investment, particularly towards SMEs. The challenge involves both modernising production tools and relocating certain activities.

For these three action levers, the Alliance advocates a structured approach based on prioritising projects, implementing concrete measures and long-term monitoring. Its action now depends on their inclusion in the political agenda.

Paris, France - Having transitioned from a fashion icon to a thorn in the side of French luxury group Kering, Gucci must now reinvent itself to avoid further weighing on its parent company's accounts.

The luxury giant, which also owns Yves Saint Laurent, Bottega Veneta, Kering Eyewear and Boucheron, will present its strategy to investors on Thursday in Florence, Gucci's birthplace. Particular attention will be paid to its plans for the double G brand.

Luca de Meo, the former head of Renault appointed as Kering's chief executive officer in 2025, must work his magic on the Italian house. He needs to rekindle the brand's former brilliance. The financial stability of the entire group is at stake, as Gucci accounted for approximately 40 percent of its turnover in 2025.

While Tom Ford's tenure as artistic director from 1994 to 2004 represented a golden era for the house, subsequent creative choices have been less successful. This has led to a significant drop in sales over the past three years.

"In this sector, you sell something that consumers desire. If you give too much of something people love, eventually they will no longer want it," analyses Luca Solca, an industry specialist at Bernstein. "With the rise of streetwear, Gucci became ubiquitous... To some extent, this killed its desirability," he added.

Ingredients

Flavio Cereda, director of investments at Gam, shares a similar view. "Gucci has had issues with distribution, products and pricing," the specialist told AFP.

This decline in popularity is reflected in the figures, which is particularly stark against the backdrop of a slowdown affecting nearly all luxury players. After peaking at 10.5 billion euros in 2022 (12.38 billion dollars), Gucci's turnover has steadily declined, falling to approximately 6 billion euros last year.

Hopes are now pinned on the house's new artistic director, Demna Gvasalia, who joined in early 2025. His debut show took place in Milan in February, following a preliminary collection presented in September. "My vision for Gucci is based on the coexistence of heritage and fashion... Gucci only exists when the two are in harmony, when each one nurtures the other," he explained in a letter published in February, outlining his vision for the brand.

Since September, Gucci has also had a new CEO, Francesca Bellettini, who was previously Kering's deputy chief executive officer. Will these changes be enough? In the first quarter of 2026, Gucci's sales fell again by 14 percent to 1.35 billion, according to figures released on Tuesday. On a like-for-like basis, however, the decline was smaller than in the fourth quarter of 2025, at 8 percent compared to 10 percent.

According to analysts at HSBC, 2026 could mark a rebound, with an acceleration in the second half of the year. "It is the largest Italian luxury brand. It has the heritage, the distribution; it has all the ingredients," noted Flavio Cereda.

French luxury group Hermès reported on Wednesday that its first-quarter sales fell by 1.4 percent year-over-year to 4.1 billion euros (4.83 billion dollars). The results were impacted by exchange rates and the war in the Middle East.

At constant exchange rates, the saddler and leather goods maker's revenue grew by 6 percent, with the adverse currency effect accounting for 290 million euros. “In a tense geopolitical context, the house of Hermès is staying the course,” said executive chairman Axel Dumas, quoted in the press release. Activity in the group's stores, which grew by 7 percent, “lost almost 1.5 percentage points of growth due to events in the Middle East,” chief financial officer Éric du Halgouët told journalists.

“We had very strong double-digit growth in January and February. March came to a halt, with our business down by 40 percent,” he detailed, “mainly in the United Arab Emirates.” He added that the group operates six stores in the region, which account for “4 percent of the group's sales”.

Sales in the UK, Italy and Switzerland also suffered from the war. According to the chief financial officer, this is because Hermès has a “significant proportion of Middle Eastern clientele” in those countries.

Sales in France, down 2.8 percent to 347 million euros, were penalised by “the slowdown in tourist flows, particularly in March,” according to the press release.

In other regions, sales in America, Japan and Europe excluding France “showed strong growth,” “despite the slowdown in tourist flows linked to events in the Middle East.”

The Americas region “had an exceptional first quarter, with balanced growth across all business lines in the US, Canada and South America.” Revenue was up 6.4 percent to 739 million euros.

Revenue in Japan was down 3.9 percent (but up 9.6 percent at constant exchange rates) to 404 million euros, driven by local clientele.

In Europe excluding France, revenue was up 7.6 percent to 538 million euros, also supported by local demand. Revenue in Asia excluding Japan fell by 4.6 percent (but increased by 2.2 percent excluding currency effects) to 1.88 billion euros. Greater China (which includes Hong Kong, Taiwan, Macau and China) “continued to see slight growth.”

The verdict came in this Tuesday for Kering. With revenue of 3,568 million euros in the first quarter of 2026, the luxury group finally stabilised its revenue on a comparable basis. Organic growth remains at a standstill. Yet this 0 percent stagnation on a comparable basis marks the end of a freefall period and validates the foundation on which Luca de Meo intends to build his turnaround plan.

Revenue seeks balance

The first quarter closed with stable trading (0 percent) on a comparable basis, although the 6 percent decline in reported figures is a reminder of the impact of recent scope adjustments. This plateau suggests the group is finally stemming the losses. Luca de Meo attributes the performance to the first tangible effects of more rigorous operational execution. The contrast between channels remains sharp, however. While the directly operated retail network fell 2 percent, wholesale rose 6 percent, driven by an eyewear division that is asserting itself as a source of resilience.

Gucci: Start of transatlantic rebound

A vital engine for the group, Gucci remains in recovery mode, with revenue of 1,347 million euros, down 8 percent on a comparable basis. Asia-Pacific and western Europe still weighed negatively on performance, but North America delivered a strong signal with growth of 8 percent. This rebound in the US validates the first measures to reposition the offer. The strategy now rests on a drastic rationalisation of product categories and a more sequenced roll-out of collections throughout the year to restore brand desirability.

Property disposals: 729 million euros in immediate liquidity

Kering appears to have taken on board criticism of its past property appetite.

Kering used the quarter to monetise part of its Milan real estate portfolio. The group struck an agreement with Al Mirqab Group concerning the asset at 8 via Monte Napoleone, one of the most prestigious luxury streets in the world. The transaction enables Kering to collect 729 million euros on completion, with a further 432 million euros to be added in five years. The group retains a 20 percent stake in the new dedicated structure. Even so, this partial disposal illustrates a priority on strengthening the balance sheet, which has been heavily strained in recent years by these property acquisitions, and on financial flexibility rather than direct ownership of real estate.

Middle East exposure: First quantified assessment

In an effort to provide greater visibility for the market, the group isolated the performance of its Middle East operations, a region accounting for 5 percent of its retail sales. While the start of the year was promising, the escalation of the conflict sharply reversed the trend from late February. Retail revenue in the region ended the quarter down 11 percent. Beyond the local impact, management is closely monitoring the potential repercussions for international tourist flows, traditionally a key consumption driver for the group’s Houses.

Jewellery and eyewear as stabilisers

While leather goods are being reorganised, the “Jewelry” and “Eyewear” segments are emerging as effective growth drivers:

• Kering Jewelry posted growth of 22 percent on a comparable basis, driven by the strength of Boucheron. The creation of a dedicated entity in March, led by Jean-Marc Duplaix, underlines the ambition to structure this division as an autonomous platform.
• Kering Eyewear delivered its best quarter on record at 489 million euros, boosted by the integration of leading licences such as Valentino.

Platform strategy and “ReconKering” plan

Kering’s overhaul is not limited to sales. The group finalised its strategic alliance with L’Oréal in beauty and created two centres of excellence, “Industry” and “Client”, to increase the operational efficiency of its Houses.

The high point of this transformation is expected on April 16, 2026, in Florence. The Capital Markets Day will provide an opportunity to outline the “ReconKering” plan, which is expected to set new medium-term margin and organic growth targets.

Interview

Prince is making a decisive swing, moving beyond the racquet and into apparel as the convergence of sport and fashion opens up fresh commercial opportunities for heritage performance labels.

The shift, overseen by the brand’s parent company Authentic Brands Group, reflects a broader evolution within racquet sports, where on-court credibility is becoming increasingly intertwined with off-court style.

Central to this push is a new partnership with C-Life Group, which will design, manufacture and distribute Prince apparel across North America. The deal spans men’s, women’s and kidswear, covering both on-court performance and off-court categories, marking a notable step in scaling the brand into a broader lifestyle business.

Speaking to FashionUnited, Tim Puttock, senior director R&D of Prince at Authentic, outlined the thinking behind the shift, discussing the timing of the apparel rollout, opportunities in a fast-growing racquet sports market, and how the brand plans to balance performance credibility with fashion relevance through a considered, omnichannel approach.

What specifically has prompted the shift for Prince to venture into apparel? Why has the brand decided to pursue an apparel-focused strategy now?

The convergence of sport and fashion has created a strong opportunity for Prince to expand beyond the racquet into apparel. Prince sits at the intersection of heritage racquet sport and modern lifestyle, a space that remains underdeveloped compared to running and basketball.

With tennis-inspired style influencing the mainstream, now is the right moment to leverage the brand’s authority in racquet sports to capture share in the fashion market. This move is supported by our partnership with C-Life Group, enabling us to bring this vision to market with speed and scale.

Tennis, padel, and pickleball are seeing unprecedented growth in both participation and cultural relevance. How will Prince leverage this momentum to appeal to both traditional players and younger, style-conscious consumers?

Across tennis, pickleball, and padel, today’s athlete is increasingly style-conscious, seeking products that perform on court while reflecting their personal aesthetic. Prince is uniquely positioned to meet this demand by staying at the forefront of racquet sports while introducing a fresh, design-led approach across new categories. This ensures we remain relevant to core players while engaging a new generation of consumers.

The current market shows a surge in racquet-sport apparel, yet many legacy brands have struggled to fully capture it. What lessons is Prince drawing from sectors like running or soccer, where fashion-conscious consumers now dominate?

Prince’s strength lies in its authentic heritage in tennis, which provides a credible foundation as we expand into apparel. The brand has long been a pioneer driven by innovation, and that same spirit will guide our approach to fashion. By staying true to our roots while evolving with consumer expectations, we can deliver products that resonate both functionally and culturally.

Lifestyle apparel often requires collaborations and/or pop-culture relevance. Are there plans for fashion-forward partnerships or influencer activations to position Prince as a modern lifestyle brand?

Collaborations are a key pillar of Prince’s strategy, particularly under the creative direction of David Grutman. In recent years, the brand has partnered with culturally relevant names such as Sporty & Rich, Siegelman Stable, and Brooks Brothers to name a few. We see strong value in these partnerships and will continue to explore collaborations that bring fresh perspective and cultural relevance to the brand.

How does Prince plan to balance its legacy in performance tennis equipment with ambitions in lifestyle and fashion apparel?

For over 50 years, Prince has been defined by innovation, distinctive colour stories, and a bold graphic identity. These elements remain central to our design approach as we expand into lifestyle apparel. Our goal is to ensure that every product reflects the brand’s heritage while offering versatility and relevance for modern, everyday wear by striking a thoughtful balance between performance credibility and lifestyle appeal.

E-commerce and online retail are growing rapidly in the sports apparel space. How will Prince balance digital-first strategies with traditional retail partnerships to maximise reach?

A strong omnichannel approach is critical to maximising reach. We’ve found an experienced partner who shares our vision for growth, while also maintaining strategic relationships with key retail partners. This balanced approach allows us to meet consumers wherever they choose to shop, ensuring accessibility and consistency across all channels.

What is Prince looking for in key retail partners, and how will this approach evolve as it expands into apparel and lifestyle?

We prioritise partners who understand and value Prince’s authenticity and heritage in sport. As we expand into lifestyle categories, it is equally important to work with retailers who can support a seamless transition from on-court performance to everyday wear.

Beyond North America, are there any geographical regions that present an opportunity for further growth for Prince?

Prince already has a strong international presence which provides a solid foundation for global expansion. We see significant opportunity to extend this brand equity into lifestyle categories across key international markets, bringing a consistent and elevated brand experience to consumers worldwide.

As the giants of the CAC 40 publish their quarterly results, an exclusive analysis by Reuters reveals the scale of the upheaval hitting the Middle East. Long considered the sector's last growth engine, the Gulf is now seeing its sales collapse due to geopolitical tensions with Iran.

Until now, major luxury groups like LVMH, Kering, and Hermès presented the Middle East as a resilient region, offsetting the slowdown in China. This perspective is now obsolete. According to information reported by Reuters, sales for the largest European houses plunged by 30 to 50 percent in March at the Mall of the Emirates in Dubai. Even more strikingly, footfall at the Dubai Mall, a global barometer for luxury shopping, reportedly dropped by 50 percent.

End of the Emirati 'safe haven'

Dubai is not just a local market; it is a re-export hub and a major shopping tourism destination for Russian, Indian, and European clients. The regional instability, marked by tensions between Iran, Israel, and the US, is shattering the United Arab Emirates' image as a 'secure bubble'.

While the Middle East accounts for only 5 percent of global luxury consumption, its contribution to marginal growth was crucial. Carole Madjo, an analyst at Barclays, noted that it was one of the few regions with double-digit growth in recent years. Seeing it falter now deprives these groups of their 'plan B' as China fails to recover.

Risk of contagion in the US

The analysis extends beyond the Gulf's borders. As highlighted by Reuters, analysts at Bernstein are now concerned about a domino effect. Instability in the Middle East does not just impact boutiques in Dubai:

• Energy prices: A sustained rise in oil prices weighs on household morale, even in the US.

• Travel inflation: The cost of airline tickets and insecure air routes are hindering global travel retail.

• The wealth effect: A stock market crash or increased volatility immediately reduces spending by so-called 'aspirational' customers.

High-stakes schedule

This revelation comes at a sensitive time for Kering, which is holding its Capital Markets Day in Florence this Thursday. Luca de Meo will undoubtedly have to answer much darker questions than anticipated about the group's geographical diversification. As for LVMH, while the group managed to limit the damage this quarter, the prospect of a return to normality that will “take months”—according to experts cited by Reuters—dampens hopes for a solid recovery in 2026.

The luxury sector is no longer just facing an economic slowdown cycle, but a forced reorganisation of its profit geography.

Madrid – A decisive step forward has been made in popularising circularity and the use of more sustainable fibres, following a strategic agreement between Spain's Recover and China's Prosperity Textile. Under this pact, the companies have agreed to jointly participate in the development, manufacturing and industrial-scale commercialisation of denim fabric fibres made from recycled cotton fibres.

To this end, as Recover announced in a statement, the Spanish company will contribute its accumulated experience as a leading industry player in recycling and the global production of high-quality, low-impact recycled cotton and cotton blend fibres, all produced on a large scale. The Chinese company, founded in 2002 in the city of Shaoguan, Guangdong province, will contribute its own expertise as a specialist with over 20 years of experience in denim fabric manufacturing. This production is not only carried out independently but also forms the basis of comprehensive solutions offered to brands and retailers worldwide. It currently has its main production centres in China and Vietnam, with an annual production capacity of around 100 million yards, approximately 91.44 million linear metres.

“Our collaboration with Prosperity Textile represents an important step in making it easier for brands to integrate circular materials beyond specialised collections into their main high-quality denim lines,” emphasised Anders Sjöblom, CEO of Recover. “Working closely with an industrial partner that has the technical expertise, innovative mindset and scale of Prosperity Textile will allow us to jointly develop denim fabrics that meet the real performance and quality expectations of global brands, while reducing reliance on virgin cotton.”

“By combining Recover's expertise in recycled cotton with our industrial manufacturing capabilities, we can offer competitive, large-scale denim fabrics that meet the performance, lead time and quality expectations of global brands,” added Stafford Lau, chief executive officer of Prosperity Textile. “This collaboration reflects our shared commitment to making high-quality, sustainable denim a viable solution for mainstream collections produced on an industrial scale.”

First samples from Kingpins Amsterdam

Describing their partnership as a “flexible collaboration” between Recover and Prosperity Textile, the alliance will allow both companies to develop scalable and sustainable denim fabric solutions. These can evolve over time depending on the needs, production volumes and final applications required by their clients. This will open the door to ad hoc solutions for companies, potentially extending to the finished garments already offered by both Prosperity Textile and Recover.

However, before taking the partnership to that scale, Recover's technologies for producing high-quality and consistent recycled cotton fibres will be combined with Prosperity Textile's manufacturing capabilities and denim expertise. This will initially be used to create a series of denim fabrics, which will be manufactured in Vietnam and marketed under the “Recover Fabrics” brand. This trademark was launched last November 2025 by the Spanish company as part of its business model diversification into marketing fabric and finished garments. It will also be used as an umbrella for marketing these denim fabrics developed with Prosperity Textile. The first samples of these textiles will be presented during the upcoming edition of Kingpins Amsterdam, which starts on April 15 in the Dutch capital.

“Designed as a scalable platform for the industrial production of denim fabrics, this collaboration guarantees quality, performance and long-term supply,” both textile companies stated. Regarding the commercialisation of these materials, “the first fabric developments will be presented to selected partner brands as part of both companies' shared commitment to accelerating circularity in the denim sector.” Furthermore, as a more visual and open preview, “to demonstrate the potential applications of the fabric collection, selected garments will be presented at Kingpins Amsterdam, serving as examples of how the fabrics can be applied in different denim products.”

Amazon announced on Tuesday the construction of a distribution centre in the Haut-Rhin region in France. It will be one of the largest in Europe, representing an investment of over 250 million euros and creating 2,000 jobs.

The building, located in the municipality of Ensisheim, will have a floor area of approximately 60,000 square metres and a total area of 189,000 square metres over three levels. The e-commerce giant told AFP that it is expected to open at the end of 2027. The company confirmed this will make it one of Amazon's largest logistics centres in Europe in terms of surface area.

“Dedicated to preparing customer orders, this site will incorporate the latest robotic technologies developed by Amazon,” according to a statement from the American company.

The group noted that in the Grand Est region, Amazon has invested over 1.5 billion euros since 2010. It already employs more than 4,000 permanent staff at its distribution centre in Augny (Moselle) and its two delivery agencies in Woippy (Moselle) and Strasbourg (Bas-Rhin).

In France, Amazon employs 17,000 people in its distribution centres and 5,000 in its sorting and delivery agencies.

Shopping centre operator Allos has signed a memorandum of understanding with investment firm Kinea, securing an agreement that aims to create a real estate investment fund, Kinea Allos Malls Fil, which will be co-managed by both companies.

According to the statement, the next step will be to raise funds through a primary share offering. The final offering volume is expected to be between 789.5 million and 1.97 billion reais. These funds will be used to acquire mature assets from the Allos portfolio.

The initial portfolio, with stakes depending on the final fundraising amount, will include 49 to 100 percent of Shopping Metrô Santa Cruz; 11 to 50 percent of Plaza Sul Shopping; and 10 to 12 percent of Shopping Villa-Lobos, all located in São Paulo. It also includes 5 to 15 percent of Bangu Shopping and 65 percent of Caxias Shopping, both in Rio de Janeiro; and finally, 12 to 40 percent of Shopping Parangaba in the capital of Ceará.

Strategic partnership

Kinea Allos Mall Fil will consolidate a strategic partnership between two of the biggest names in the real estate market. A reciprocal exclusivity agreement is planned between the two companies to carry out the operation until December 31, 2026.

“This new business vertical opens a growth cycle for Allos and creates recurring revenue from asset and fund management, supported by its positive track record in capital allocation. It also creates portfolio management opportunities and allows for joint acquisitions in the future without altering the company's current shareholder remuneration strategy. Allos will have an equal stake in the Fund's management, will be a unitholder with an initial 24 percent stake in the Fund, the administrator of the shopping centres and co-owner of some of the assets,” the statement said.

According to the material fact, the completion of the transaction is subject to certain preceding conditions, including the right of first refusal.

The US fashion rental platform Rent the Runway has reported a significant expansion of its active subscriber base and a return to net income for the fiscal year 2025 ended January 31, 2026. The company attributed these results to a strategic decision to increase inventory investment, which served as the primary driver for improved customer loyalty and retention.

“Last year, we made a calculated bet that increasing our inventory investment was the strongest lever to unlock growth,” said Jennifer Hyman, co-founder and chief executive officer of Rent the Runway. Hyman noted that the strategy has resulted in the company operating from its “strongest financial position in years.”

Q4 and fiscal year 2025 financial performance

For the full fiscal year 2025 (FY25), the company reported revenue of 329.80 million dollars, marking a 7.7 percent increase year-over-year (YoY). Net income for the period reached 22.60 million dollars, a substantial recovery from the 69.90 million dollar loss recorded in the previous year.

The average active subscriber count rose by 8.3 percent YoY to 143,558. However, EBITDA declined to 24.90 million dollars from 46.90 million dollars in FY24, with the EBITDA margin narrowing to 7.6 percent from 15.3 percent.

Performance accelerated in the fourth quarter of fiscal year 2025, with revenue reaching 91.70 million dollars, up 20 percent compared to the same period in the prior year. Active subscribers reached 143,796 by the end of the quarter, representing 20.1 percent growth YoY. Subscription add-on revenue proved to be a significant growth lever, increasing by 67 percent YoY in the fourth quarter.

AI integration and marketplace expansion

Rent the Runway is shifting its focus toward technological integration and revenue diversification for fiscal year 2026 (FY26). In March 2026, the company launched a marketplace pilot program, offering curated wardrobe essentials including shoes and beauty products. A 2025 customer survey indicated that 86 percent of subscribers are interested in purchasing such complementary items.

The platform is also undergoing a digital transformation, moving from a traditional e-commerce grid to an AI-powered discovery model. Recent updates include a new search algorithm launched in February 2026, which improved subscription conversion rates by 10 percent, and an AI-driven ‘similar styles’ recommendation engine.

Outlook for fiscal year 2026

The company issued a positive outlook for FY26, projecting double-digit revenue growth driven by continued product and inventory enhancements. For the first quarter of fiscal year 2026, Rent the Runway expects revenue between 85 million and 87 million dollars.

While inventory investment was a priority in FY25, the company plans to moderate this spend in the coming year. Rental product acquired is expected to be between 45 million and 50 million dollars in FY26, down from 74.90 million dollars in the previous fiscal year.

The Irish government has launched a new strategy to overhaul the national textile industry, with the mission of shifting from a linear “take-make-waste” model to a circular economy. With the unveiling of the Whole of Government Economy Strategy 2026-2028 and the first-ever National Policy Statement and Roadmap on Circular Textiles, Ireland is introducing mandatory accountability for brands and retailers.

The strategy intended to address Ireland’s post-consumer textiles industry, which currently generates over 110,000 tonnes of textiles annually, with an average consumption rate of 53 kilograms per person, making it one of the highest textile consuming regions in the EU. The government is therefore looking to move beyond voluntary guidance toward a regulated framework that places the financial and operational burden of waste on the industry.

DPPs and EPR

At the core of the new roadmap is the introduction of Extended Producer Responsibility (EPR). By April 2028, fashion brands and retailers placing products on the Irish market will be legally required to fund the cost of collecting and managing used textiles.

In a statement, minister of state, Alan Dillon, said: "Far too much of our used textiles currently end up being disposed of as waste in our bins. Today I am launching policy and practical measures to change this, to move us closer to a circular economy for textiles. The Policy Statement has a range of measures that will promote circular design, so that textiles last longer and are easier to reuse and repair. The actions in the Policy Statement make the fashion and textile industry responsible for its textile waste."

To support the EU Ecodesign for Sustainable Products Regulation (ESPR), Ireland is also prioritising the rollout of digital product passports (DPP) for textiles. Akin to those due to be introduced in the EU, these passports will serve as digital identity for garments, providing standardised, machine-readable information.

Strategic goals and stewardship

The strategy further acknowledges the price gap between repair and replacement as a notable barrier to circularity. To counter this, the government is launching several initiatives:

• National Pilot Repair Voucher Scheme: Supported by the Circular Economy Fund and set to roll out by 2027, this scheme will reduce repair costs to encourage consumers to act as “stewards” rather than just purchasers.

• Repair and Reuse Hubs: Supporting local authorities in developing dedicated facilities for textile upcycling and professional repair.

• Public Awareness Campaigns: A new nationwide campaign via MyWaste.ie will educate the public on proper donation protocols to ensure used clothing has the highest chance of reuse.

The roadmap ensures industry stakeholders begin aligning with these measures imminently as part of Ireland’s broader climate action agenda. Minister Darragh O’Brien said the strategy was imperative from an economic and environmental point of view, adding: “Nearly half of global greenhouse gas emissions come from how we make and use goods, food and materials. By embedding circularity across our economy, we can cut those emissions at the source – long before they reach our atmosphere. This is not simply an environmental project; it is a cornerstone of our climate action agenda."

Measurable targets have now been laid out by the government to ensure the success of the transition, with a focus on domestic infrastructure and industry innovation. A primary objective is to increase Ireland’s Circular Material Use Rate by two percentage points annually, with the goal of reaching a 12 percent benchmark by 2030.

Supporting this metric is a commitment to ensuring that nationwide, full, and enhanced separate textile collection systems are active by 2030, providing feedstock for a circular loop. Beyond waste management, the strategy further seeks to strengthen Ireland’s position as a global centre for sustainable design, fostering innovative circular business models and eco-design solutions tailored for Irish retailers.

Lululemon is facing an investigation from Texas attorney general Ken Paxton over concerns related to product safety and transparency.

According to a press release issued by the attorney general’s office, Paxton has launched a Civil Investigative Demand against Lululemon Athletica as part of a formal inquiry into whether the Canadian activewear giant misled consumers about the safety of its products.

The probe will specifically assess whether certain products contain PFAS, commonly known as “forever chemicals”, which do not break down easily and have been linked to health risks, including infertility and cancer.

The attorney general intends to examine whether Lululemon’s marketing as a wellness-focused and sustainable lifestyle brand aligns with its manufacturing and supply chain practices.

Investigators are currently reviewing the company’s internal Restricted Substances List, its chemical testing protocols, and its broader supply chain oversight to determine if the products comply with safety standards.

In a statement, Paxton said: “Americans should not have to worry if they are being deceived when trying to make healthy choices for themselves and their families.

“I will not allow any corporation to sell harmful, toxic materials to consumers at a premium price under the guise of wellness and sustainability. If Lululemon has violated Texas law, it will be held accountable.”

In a statement emailed to The Associated Press, Lululemon, which confirmed cooperation with Texas authorities, stated that it hadn’t used PFAS in its products since phasing out the substances in 2024.

The chemicals had previously been applied across a small portion of the brand's assortment for water-repellent treatments, Lululemon explained, yet are no longer in use.

The company added: “The health and safety of our guests is paramount, and our products meet or exceed global regulatory, safety, and quality standards. We require all our vendors to regularly conduct testing for restricted substances, including PFAS, by credible third-party agencies to confirm ongoing compliance.”

British womenswear brand Sosandar has released a trading update for the financial year ended March 31, 2026, highlighting a 14 percent increase in total revenue to 42.30 million pounds (57.26 million dollars). The performance marks a shift in the financial trajectory of the company as it transitions toward a more sustainable and profitable growth model.

The group reported that revenue from its own website grew by 24 percent year-over-year (YoY), driven by a rise in digital traffic and improved conversion rates. While the total revenue of 42.30 million pounds fell slightly short of the market expectation of 43.10 million pounds, profit before tax (PBT) reached 0.40 million pounds, aligning with analyst forecasts and improving from a loss of 0.10 million pounds in the previous financial year.

Margin enhancement and digital performance

A strategic focus on margin health resulted in a gross margin of 63.9 percent for the year, compared to 62.1 percent in the prior period. The company noted that all product categories, ranging from occasion wear to casual wear, contributed to the positive results.

Sosandar co-chief executive officers, Ali Hall and Julie Lavington, have prioritised profitability over aggressive discounting. This approach contributed to increased order volumes from both new and returning customers on the direct-to-consumer (D2C) platform.

Third-party partnerships and retail estate

The brand maintained its position as a top-selling label across third-party partners, including British retailer Next. Trading with British multinational retailer Marks & Spencer (M&S) has resumed regular levels following a previous cyber incident that impacted stock intake.

Regarding its brick and mortar operations, the company observed a positive uplift in performance as its store estate entered the second year of trading.

The board stated that no further new store openings are anticipated for the foreseeable future as the focus remains on driving profitability from current locations. Sosandar executives expressed confidence that the current foundations will support future cash-generative growth.

French luxury leader Kering, held back by difficulties at Gucci, is facing a decisive moment. This week, the group will present its new roadmap during a highly anticipated investor day in Florence.

All eyes are on the speech by Italian Luca de Meo, the group's chief executive officer, at the Capital Markets Day on Thursday in Gucci's birthplace. The stakes are high for the former Renault boss, who was appointed by François-Henri Pinault last June. He must demonstrate that Kering can restore the desirability of its houses, including Yves Saint Laurent, Bottega Veneta and Balenciaga, in a significantly slowing global market.

Urgent recovery for Gucci

While the luxury sector is going through a less prosperous period, Kering has particularly suffered from a decline in popularity for its flagship brand, Gucci, which accounted for approximately 40 percent of its turnover last year. The brand was heavily penalised by its underperformance in China, which has long been its main growth driver.

The figures speak for themselves. In 2025, Kering's sales fell by 13 percent to 14.7 billion euros (17.31 billion dollars), with net profit divided by more than ten. For Gucci alone, the decline was even more severe, with sales of six billion euros compared to 10.5 billion three years earlier.

De Meo method: deleveraging and financial agility

Upon his arrival, the captain of industry set a brisk pace to clean up the finances. Kering quickly sold its beauty division to the giant L’Oréal for four billion euros and postponed the acquisition of Valentino by two years.

The group, which will unveil its first-quarter sales this Tuesday after the market closes, has also increased its real estate disposals. In early April, it sold a majority stake in a prestigious Milan building for over one billion euros. As a result, at the end of 2025, debt stood at eight billion euros, 2.5 billion less than a year earlier.

Managerial “gamble” that is paying off

For Luca Solca, an analyst at Bernstein, the choice of Luca de Meo is paying off: “A gamble had to be taken because things were going badly. Someone was needed who could potentially make a difference very quickly, and Luca de Meo proved to be the right choice in this respect,” he told AFP.

Anne-Laure Bismuth from HSBC bank agrees: “Luca de Meo's arrival was a bit surprising because he doesn't come from the luxury industry, but he brings a new vision (...) with different processes.” HSBC also anticipates a return to growth as early as 2026, with a projected 5 percent increase for the group.

Diversification and end of “over-dependence”

Internally, the transformation is accelerating. Francesca Bellettini has been appointed CEO of Gucci, and two new divisions — industry and clients — have been created to optimise operational efficiency.

Kering is also seeking new growth drivers in jewellery (Boucheron, Pomellato) to reduce its “over-dependence” on Gucci, a term used by Luca de Meo himself in an internal memo at the end of 2025. Now relieved of debt stress, the executive can focus on the core issue: reigniting the creative flame of its brands.

A commercial court has ruled in favour of Amoniss' proposal in the JOTT case.

After being placed into administration, the Marseille commercial court has selected the offer from the Amoniss group to take over JOTT (Just Over The Top), a French brand of lightweight down jackets positioned in the accessible premium segment.

The successful bid includes a sale price of approximately three million euros, a plan to retain a portion of the jobs (a minimum of approximately one hundred employees) and the takeover of part of the store network.

As a reminder, the Amoniss group is an investment company based in the Lille region, in Villeneuve-d'Ascq. It is led by Salih Halassi and already owns the brands Chevignon, Lee Cooper and the retailer Pimkie (acquired in 2023 from the Mulliez family).

Amoniss received the majority of votes from the stakeholders in this case: the administrator; the court-appointed representative; the wage guarantee scheme (AGS); the bank; and others.

In addition to reviving a regional brand, the acquisition by this fund signals a collectively chosen model for the French fashion industry.

This is especially true since the 'MARS' takeover project, led by JOTT executives and supported by the Social and Economic Committees (CSE), the AGS and Cepac, was not selected by the court.

Takeover confirmed, a project to be built

The northern-based group aims to take over 77 points-of-sale (21 branches, 16 affiliates, 40 franchisees) and 'at least' one hundred employees out of the 240 currently employed in the stores and at the Marseille head office.

“This decision now opens a new, equally decisive phase: that of the industrial, strategic and regional project that will be carried forward in the coming months and years,” stated Jocelyn Meire, president of Mode in Sud, a key player in the fashion industry in the Sud region, in a press release.

“To Amoniss, I want to say that Mode in Sud will approach this new stage with an open mind, but also with high expectations. The success of this project will depend on its ability to establish a lasting presence in its home territory. It must also preserve the brand's identity and engage in dialogue with the key players in its natural environment.”

“We will be there to support, propose and structure — but also to ensure that the implicit commitments linked to this takeover are put into concrete action.”

Mode in Sud is available to the new owners to quickly open a demanding and constructive dialogue that meets the challenges at hand.

Sales at the world's leading luxury group, LVMH, fell six percent in the first quarter of the year as the war in the Middle East depressed business in the region.

The company, best known for Louis Vuitton handbags, Dior fashion, Moet & Chandon champagne and Tiffany jewellery, registered 19.1 billion euros ($22.4 billion) in sales in January through March. On an organic basis - excluding exchange rate fluctuations and changes in the business - sales rose by one percent.

"LVMH maintained its powerful innovative momentum and showed good resilience in a geopolitical and economic environment that remained disrupted, amplified by the conflict in the Middle East," the company said in a statement. The company said the war launched by the United States and Israel on Iran "had a negative impact of around one percent on organic growth for the quarter", but expressed hope that it would make up for lost sales once consumers return to shops.

The conflict, which saw Iran launch missile and drone strikes against its Gulf neighbours, severely impacted air travel through the region -- a key hub for long-haul flights between Europe and Asia, and disrupted transport of oil and gas through the Strait of Hormuz.

The Middle East region accounts for around six percent of LVMH's sales. LVMH, like other luxury groups, has suffered in recent year from the slowdown in growth in China, evoked positive trends there as well as the United States.

The spike in trade tensions between the two countries last year contributed to a five percent slide in LVMH's sales to 80.8 billion euros.

LVMH saw net profits fall 13 percent in 2025 to 10.9 billion euros, mostly due to an exceptional tax on large French companies.

The fashion and leather goods segment - LVMH's biggest - saw sales slide nine percent in the first quarter of 2026 from the same period last year. It was also the only product segment to contract on an organic basis. (AFP)

Mothercare plc has issued a pre-close trading update for the 52-week period ending March 28, 2026. The specialist global brand for parents and young children reported unaudited worldwide retail sales by franchise partners of 180 million pounds. This represents a 22 percent decline compared to the previous year, or a 19 percent decrease at constant currency. Adjusted EBITDA for the period is expected to be approximately 1.25 million pounds, down from 3.5 million pounds in 2025.

Performance was impacted by the conclusion of the exclusive distribution relationship with Boots at the end of 2025, alongside foreign exchange volatility and ongoing uncertainty in Middle Eastern markets. Recent conflict in Iran also affected the final month of the period. Despite these challenges, total retail sales remained positive on a like-for-like (LFL) basis when excluding the UK and the Middle East.

The company reported net borrowings of 5.7 million pounds, an increase from 3.7 million pounds in March 2025. The pension scheme deficit remained stable at 35 million pounds as of December 31, 2025. Following a successful debt refinancing in February 2026, the group has secured additional time to enhance its brand intellectual property and operational gearing.

Clive Whiley, chairman, noted that the results reflect the resilience of the asset-light franchise system amidst geopolitical disruption. Whiley confirmed that the company remains in discussions with several parties to restore critical mass and explore new partnership opportunities within the UK market, supported by the recent alignment of debt instruments with equity.

This article was created by AI and edited.

Paris, France - After a marked slowdown over the past two to three years, driven by price hikes, a lack of creativity and a downturn in China, the luxury sector hopes to navigate the clouds of geopolitical instability in 2026 to return to growth.

Global leader LVMH will be under particular scrutiny, as the group kicks off the reporting season for first-quarter sales figures late on Monday.

The sector, which reached post-Covid-19 peaks, faced significant challenges in 2024 and 2025. While not all groups experienced the same fate, consumers generally did not embrace price increases or stylistic choices with the same enthusiasm as before.

“The post-covid effect saw a considerable increase in activity, purchases and turnover, driven by the return of customers and a kind of revenge spending,” highlights Christophe Caïs, head of the luxury consultancy firm CXG.

“There were, however, very significant price increases that discouraged the aspirational clientele,” he notes. This group is made up of occasional customers who aspire to luxury but lack the means of high-income buyers.

The bank HSBC even speaks of “self-inflicted wounds” by companies in a recent report, citing a current “lack of creativity” and price hikes exceeding cost increases.

Other reasons for the decline include the slowdown in the Chinese market, a major driver in recent years. Since the end of February, the war in the Middle East has added further pressure on the luxury sector. According to a study by Bernstein analysts, the region accounts for approximately 6 percent of the sector's sales. The impact remains difficult to measure as it will depend on the duration of the conflict.

Newcomers

In terms of figures, in 2025, the French giant LVMH reported a 13 percent drop in net profit to 10.9 billion euros (12.74 billion dollars), with sales down 5 percent to nearly 81 billion euros.

For its compatriot Kering, the situation was even more challenging. Annual sales fell by 13 percent to 14.7 billion euros, and net profit was divided by more than ten, mainly due to the difficulties at its flagship brand, Gucci.

Across the Channel, British brand Burberry fell into the red for its 2024/2025 financial year. The brand, famous for its tartan, subsequently announced cost-saving measures affecting 1,700 jobs.

Luxury industry witnesses series of designer changes

Luxury houses have finally reacted, according to specialists interviewed by AFP. This includes a series of designer changes. A recent report by strategy consulting firm Kearney notes that 2025 “saw three times as many changes in artistic directors as in previous years (...), a concrete and strong signal of a luxury industry in search of its new codes”.

Matthieu Blazy has joined Chanel, Jonathan Anderson has arrived at Dior men (LVMH group) and Demna Gvasalia at Gucci. “2026 will therefore be a year filled with high hopes in this regard, and the impact of the newcomers will certainly be closely scrutinised,” comments Kearney.

Company leadership has also seen changes. The most notable case is that of Luca de Meo, the former head of Renault, who was appointed chief executive officer of Kering last year to turn things around.

The previous year, Joshua Schulman, former head of American brands Michael Kors and Coach, had taken the reins at Burberry. The houses have also adapted their offerings. “One approach has been to create smaller products to offer prices that are once again compatible with the expectations of the aspirational clientele,” highlights Christophe Caïs.

“There is this idea that for two or three years, there was no reason to go into luxury boutiques because they had become too expensive and boring,” adds an industry analyst. “Now it is cheaper and more interesting. Therefore, people are starting to walk through the door again.”

US specialist retailer The Children’s Place has announced its financial results for the fourth fiscal quarter and full fiscal year ended January 31, 2026, revealing a significant downturn in performance. Net sales for the three months ended January 31, 2026, decreased by 79.30 million dollars to 329.20 million dollars, representing a 19.4 percent drop compared to the same period in the prior year.

The decline was primarily attributed to a reduction in e-commerce sales resulting from lower traffic and conversion rates. The company cited challenges regarding performance marketing strategies and execution as key drivers for this digital slowdown. Additionally, wholesale revenue saw a decrease following a planned reduction in shipments to Amazon to rebalance inventory levels.

Comparable retail sales for the quarter fell by 10.7 percent. In response to these results, president and chief executive officer Muhammad Umair stated that while the fourth quarter was disappointing, the company is taking decisive action to turn the business around. Umair noted that The Children's Place recently ranked 21st in a survey of iconic companies and plans to leverage this brand strength for a strategic transformation.

Gross margin contraction and operating losses

Gross profit for the quarter fell to 77.40 million dollars, down from 116.60 million dollars in the previous year. Gross margin decreased by 500 basis points to 23.5 percent. This contraction was fueled by the impact of higher tariffs, which accounted for 330 bps, alongside a higher penetration of markdown sales and increased inventory reserves.

The financial strain resulted in an operating loss of 40.90 million dollars, a sharp contrast to the operating income of 6.80 million dollars reported in the fourth quarter of 2024. Adjusted operating loss stood at 38.70 million dollars.

Net loss for the period reached 44.60 million dollars, or 2.01 dollars per diluted share. This is a notable increase from the net loss of 8 million dollars reported in the comparable period last year. On an adjusted basis, the net loss was 41.20 million dollars.

Strategic migration to Salesforce Customer Cloud

To address ongoing digital hurdles, TCP migrated its e-commerce operations to the Salesforce Customer Cloud platform in February 2026. Umair expects this move to stabilize the customer file and increase traffic through faster execution and sharper segmentation.

Executive chairman Turki S. AlRajhi detailed further strategic initiatives in a letter to shareholders, emphasizing the need for operational leverage. The group is currently focused on reducing costs, expanding margins, and prioritizing free cash flow generation to strengthen its liquidity position.

The company ended the fiscal year with 498 stores, having opened 10 locations and closed 11 during the fourth quarter. The company maintains that it now possesses the financial flexibility required for strategic investments during the upcoming back-to-school season, which remains a critical period for childrenswear retailers.

Interview

Just over a year ago, Dockers began a major ownership transition from Levi Strauss & Co. to Authentic Brands Group, ushering in a new era for the khaki-centric label.

Even before the deal was finalised in March 2026, Authentic moved swiftly to deploy its signature business model, appointing distribution partners to oversee regional operations across Europe and Central America.

This reliance on third-party operators mirrors strategies used across Authentic’s expanding portfolio of lifestyle brands, where Dockers was seen as a natural fit. The approach further reflected broader ambitions to accelerate international growth, alongside plans to expand the brand’s category offering.

To gain deeper insight into this strategy, FashionUnited spoke with Jarrod Weber, the group's global president of sports and lifestyle, who discussed category diversification, an e-commerce revamp, and scaling the business in a measured, intentional way.

What are Authentic’s immediate priorities for Dockers now that the acquisition has officially closed?

Our immediate focus is on strengthening Dockers’ foundation while unlocking new avenues for growth. Dockers is an iconic brand built on the Original Khaki, which redefined casual dressing and remains central to its identity. We see an opportunity to both deepen engagement with its loyal, long-time consumer while accelerating momentum with a younger consumer drawn to its evolving design aesthetic.

From a partner network standpoint, we are prioritising the alignment of strong regional operators in key markets in North America, alongside driving international expansion. At the same time, we’re focused on expanding the category portfolio domestically and building out a comprehensive assortment that meets the needs of every occasion. Reimagining the “Dockers Guy” through marketing will also be key as we reintroduce the brand to a new generation.

How do you plan to evolve Dockers’ brand positioning in the near term while still preserving its heritage in casual workwear?

Dockers has a strong heritage rooted in casual wear, and our approach is to build on that foundation, evolving the brand to reflect how consumers dress today. Khakis are a staple in a man’s wardrobe, and we will continue to provide that to consumers at the same time. We are focused on filling whitespace across multiple categories, from casual and utility to refined tailoring, golf, and denim, ensuring Dockers as a full lifestyle offering.

Marketing will play an important role in this evolution. We are investing in culturally relevant storytelling through partnerships with creators and immersive brand experiences, such as pop-ups and campaigns that reframe Dockers for today’s consumer.

We also see an opportunity in denim, an area that has historically been underdeveloped for the brand, which we plan to establish as a growth category.

Which markets are the biggest focus for Dockers in the short term?

From a consumer standpoint, Millennials and Gen Z represent a growth opportunity, and we are focused on engaging them through our product assortment. At the same time, we remain committed to our core Gen X consumer, who has been instrumental in building the brand’s legacy.

Are there plans to expand Dockers into new product categories or lifestyle segments in the near future?

Category expansion is an important part of our long-term vision for Dockers. In the near term, we are focused on reinforcing the strength of the core business, with bottoms at the centre, while optimising and growing our existing categories. As we look ahead, we see opportunities to expand into adjacent areas such as denim and tops, and to explore broader lifestyle extensions, alongside continuing to build out the women’s offering in a meaningful way.

What opportunities do you see to grow Dockers across different retail channels, including wholesale, e-commerce and new distribution models?

We see opportunities across various channels. In wholesale, we are working closely with key partners to broaden and strengthen the full assortment, ensuring Dockers delivers a compelling and differentiated offering at retail. This includes our licensing partners, such as our core partner Centric Brands for men’s, women’s and children’s apparel, Genesco for footwear, and Randa for leather accessories.

E-commerce is a major focus area. We are currently revamping Dockers.com in partnership with Centric to create an elevated, brand-right digital flagship. This includes improved storytelling around fit and product, a cleaner user experience, and the introduction of new categories over time.

Marketplace platforms such as Amazon represent additional growth. Our approach will be disciplined and strategic, ensuring we expand distribution in a controlled way with the right assortment and brand presentation.

How will the brand’s design, product development and merchandising strategy evolve under Authentic’s ownership?

Our strategy is to build on the strength of Dockers’ heritage while modernising the product offering. At the core is a commitment to making Dockers the best-fitting pant for every occasion.

We are refining and expanding fit options, improving quality, and introducing new fabrications to elevate the overall product experience. The assortment will evolve to cover the full spectrum of a consumer's wardrobe. This includes the Essential Khaki as the everyday foundation, a more polished Signature Khaki, performance-driven styles like Dockers Go, and versatile casual options. Seasonal and lifestyle-driven extensions, including golf, will further round out the offering.

How do you see Dockers fitting within Authentic's broader portfolio of lifestyle brands over the next few years?

Dockers is an important brand within our portfolio and fits very well within Authentic’s strategy of lateraling brands in appropriate categories expanding Fall offerings. It is uniquely positioned as a versatile and accessible label that can serve as a one-stop shop for the modern consumer, whether they are in an urban environment, traveling, or engaging in more active pursuits.

Its heritage, combined with its adaptability, allows it to resonate across generations. We see Dockers as a brand that every consumer should have in their wardrobe. It is reliable, relevant, and continually evolving.

Looking ahead to the next 12 to 24 months, what would success look like for Dockers within Authentic’s portfolio?

Success will be defined by both operational execution and brand momentum. We have already been proactive in aligning with some of our strong partners, enabling a seamless transition and ensuring continuity across accounts and infrastructure from day one.

From there, we are focused on driving growth across key pillars. This includes elevating Dockers.com into our brand flagship, strengthening wholesale distribution with a more impactful presence, and scaling marketplace channels in a thoughtful and controlled way.

Equally important is our ability to speak to our core consumer while expanding to a new generation. Through strategic marketing and product innovation, we aim to continue to position Dockers as a culturally relevant, go-to brand for today’s consumer.

John Lewis has increased the salary of its chairman Jason Tarry by more than 20 percent, despite a reduction in its workforce over the past year, according to reports from Business Plus.

Tarry, who joined the employee-owned group in September 2024 on a salary of 990,000 pounds, reportedly saw his base pay rise to 1.2 million pounds last April. The increase brings his total pay to 1.26 million pounds, including bonuses and benefits.

The pay rise comes as the retailer reduced its workforce by around 3,300 employees, bringing total staff numbers across John Lewis and Waitrose to approximately 65,700. The reduction was largely due to unfilled roles rather than direct job cuts.

Despite this, the group recently reinstated its annual staff bonus, announcing a 2 percent payout after several years of limited or paused distributions.

In a statement to Business Plus, the retailer said: “With the chairman and CEO roles combined, the chairman’s remuneration reflects leadership of both the executive team and the partnership board.”

The adjustment aligns Tarry’s salary with that of former chief executive Nish Kankiwala, following the decision to merge the chairman and CEO roles.

The update comes as the business continues efforts to strengthen its retail performance. In recent months, John Lewis has focused on revitalising its department store offer, including investment in physical locations, the return of its “Never Knowingly Undersold” pledge, and the introduction of new brands and in-store experiences.

The website of LK Bennett is expected to close in just days amid administration proceedings underway at the company. In a post on Instagram, the British brand told shoppers they had a “final few days to shop the LKB website before it closes”.

Discounts have now extended to at least 80 percent off everything, with up to 90 percent off online. In-store, meanwhile, there is up to at least 70 percent off everything “for a limited time”.

The exact date of the website’s closure has not yet been confirmed by LK Bennett or its administrators at Alvarez and Marsal.

LK Bennett had been rescued from administration earlier this year by Gordon Brothers. The asset management firm, which snapped up the brand’s IP, said it plans to shift LK Bennett toward an asset-light business model, mirroring a similar strategy the company had applied to Laura Ashley.

The deal, however, did not include LK Bennett’s store portfolio, including nine standalone locations and 13 concession stands across the UK and Ireland. Administrators had previously stated towards the end of January an intention to continue trading the remaining stores for a period of up to three months.

The most striking feature of the data is the gulf between in-store and online performance. Store fashion sales fell by a relatively modest -1.05%, compared to +6.07% a year earlier. Non-store fashion sales, however, plummeted by -21.26% — the sharpest category decline in the tracker — against a positive base of +2.48% last year.

The pattern was not unique to fashion. Total non-store sales across all categories saw their largest contraction since 2025, falling -13.53%. Non-store lifestyle sales dropped -14.06%, suggesting a broad pullback in online spending rather than a fashion-specific issue.

Physical retail, by contrast, held up comparatively well. Total store like-for-like sales edged down just -0.24%. Shopping centre footfall rose by +0.6%, even as high street footfall fell -2.3% and retail park visits declined -3.4%. The week marked the third consecutive period of falling sales across both store and non-store channels and all retail categories. Storm Dave, which brought heavy rain and disruption to parts of the country over the Easter weekend, added to an already challenging picture, though tough year-on-year comparisons — particularly in homewares, where last year's base was +21.67% — are a significant factor in the headline declines.

For fashion retailers, the data raises questions about the resilience of digital channels during holiday periods, and whether the physical store is proving a more dependable anchor than many in the industry had assumed.

The future of QVC Group, the US’ multimedia retailer and television network for live shopping, has been called into question after the company announced that it was unable to file its annual report with the SEC.

On March 31, QVC said it required additional time to compile and analyse certain documentation and finalise disclosures to include in the report “in light of ongoing discussions and negotiations with the company’s lenders and the associated uncertainty related to such discussions”.

Management is currently expected to disclose “that there remains substantial doubt about the company’s ability to continue as a going concern”, the filing continued, suggesting there may be a lack of funds needed to remain operational.

QVC is also yet to publish its fourth quarter and full-year results for the year ended December 31, 2025, after confirming in February that it had postponed the release of these reports.

The company has recorded a consistent drop in revenue over the past year and into the most recently reported quarter Q3, when a revenue decline of 6 percent was stated. Poor performance had been seen across all categories, including apparel (-4 percent), accessories (-6 percent), and jewellery (-3 percent).

Trouble was already brewing at the beginning of 2025, however, when the group announced plans to cut approximately 900 jobs as part of a comprehensive reorganisation effort. This came on the back of a 6 percent revenue decline and a widening loss of 809 million dollars for FY24.

QVC, which also operates a separate division in the UK, had previously sought to reposition itself as a “live social shopping company”, pivoting its focus towards emerging digital platforms as a response to the erosion of traditional television viewership.

Lifestyle retailer Gandys is said to have issued a notice of intention to appoint administrators, according to a filing made with the UK’s Companies Court. The firm has also launched a closing down sale on its website.

The news, first reported on by Drapers, is yet to be publicly commented on by Gandys. Law firm Ellisons Solicitors is named in the case filing, made March 25, as the representative of the company.

Drapers stated that the filing reportedly follows the “sudden withdrawal of funding”. FashionUnited has contacted both Gandys and Ellisons Solicitors with requests to comment.

Gandys, founded in 2012 by brothers Rob and Paul Forkan, currently operates an e-commerce website and a store in Covent Garden, London. The company employs around 15 people.

Mid-2025 the British brand received an official B Corp certification, recognising long-standing efforts in prioritising impact and its founders’ belief that a business should contribute to social good.

The company focuses on small-batch production and partnerships with ethical factories and design collaborators who share its sustainability values.

Budget retailer Primark has launched its first mobile customer app in the UK, designed to enhance its Click & Collect service and respond to a growing demand for digital experiences.

The app itself, available via Apple Store and Google Play Store, allows customers to digitally browse Primark products, and includes features such as real-time stock checks, store information, curated favourites, and personalised notifications.

At its core is the link to Primark’s existing Click & Collect service, which is available across 189 UK stores. Shoppers can browse, order and pay through the app, before picking up their items in person.

The decision to rollout the app to the UK follows successful launches in Ireland and Italy, where Primark had introduced the app last year. The company also reported a consistent growth in its UK website, where 25 percent of visitors are said to use the stock check feature.

In a statement, Matt Houston, chief customer and digital officer at Primark, said: “Customers are increasingly turning to digital tools that make shopping easier and more rewarding, and we’re confident that our app will deliver an intuitive, personalised experience that’s been carefully designed to help them get the most out of every Primark visit.”

US athletic brand Reebok has announced its re-entry into the hockey equipment category via a new long-term licensing agreement with Wholesale Sports Inc. The move marks the brand's return to a segment where it previously held significant market share and represents a strategic expansion of its performance sports portfolio.

The partnership will debut with a comprehensive line of Reebok hockey hardgoods scheduled for release in the fourth quarter of 2026. The initial collection is set to include performance-driven sticks, helmets, and skates for both ice and inline hockey, leveraging the technical manufacturing capabilities of Wholesale Sports.

Executive vice president of Reebok at Authentic Brands Group, Steve Robaire, stated that the move is part of a broader strategy to reclaim authority in heritage categories. Authentic, the US-based brand management company, acquired Reebok in 2022 and has since focused on reviving the brand’s performance credentials.

Strategic expansion into performance hardgoods

“This is about returning Reebok to a space where it has real authority,” said Robaire. He noted that the strategy focuses on identifying segments where the brand was historically a leader and reinvesting with specific partners. Robaire added that the return aims to reflect what the brand does best while “shaking up the category.”

US-based Wholesale Sports will oversee the development, sales, and distribution of the upcoming line. The company currently maintains a strong position in the production of ice and roller hockey equipment, which the partners claim will ensure technical precision in the new product range.

President of the company, Chris Malki, commented that the brand carries “real credibility” with players who remember its presence on the ice. Malki noted that the company saw an opportunity to build on that foundation to meet the performance expectations of the modern game.

The re-entry into hockey follows Reebok's recent efforts to strengthen its standing in other core sports, including basketball and global football.

Sustainability platform Fashion for Good is launching a new project, FAE (Feedstock Activation Europe), to address the missing link in textile recycling: sorting and pre-processing infrastructure. The organisation announced the news in a press release.

The initiative, supported by major players such as Adidas, Bestseller and Inditex, aims to ensure that post-consumer textiles can be used on a large scale as feedstock for new textile fibres. Partners from the Benelux region are also participating in the project, including sorters Boer Group and Sympany, and technology innovator Cure Technology.

FAE is a response to the economic gap between sorters and recyclers. Currently, the vast majority of collected textiles unsuitable for the second-hand fashion market is incinerated or sent to landfill. The problem is not the technology. According to Fashion for Good, there are sufficient mechanical and chemical recycling companies, but the issue lies in the preceding step. There is a lack of cost-effective methods to remove zips, buttons and synthetic fibres from clothing and to separate the synthetic fibres. This is a necessary step for high-quality sustainability in the textile chain.

Project FAE focuses on testing fibre separation techniques and designing regional “hubs”. These sorting and pre-processing centres in Europe are intended to reduce processing costs per product through automation. With this, the organisation aims to create a commercially viable model that responds to the EU's Extended Producer Responsibility (EPR) legislation, which holds fashion brands financially responsible for the phase in which clothing becomes waste.

Brunello Cucinelli closed the first quarter of 2026 with total revenues of 369.1 million euros (431.3 million dollars), representing an increase of +14 percent at constant exchange rates and +8.1 percent at current exchange rates.

The company achieved an excellent performance in the retail channel, increasing by +20.1 percent at constant exchange rates. The wholesale channel also made a very positive contribution, growing by +4.3 percent at constant exchange rates.

The first quarter performance was favourable across all geographical regions. Growth at constant exchange rates reached +20.3 percent in the Americas, +4.4 percent in Europe and +17.8 percent in Asia. The retail channel saw double-digit growth across all three continents.

Expected revenue growth of +10 percent confirmed for 2026

As highlighted by management in a note, “the excellent contribution of our new e-commerce site based on Artificial Intelligence, Callimacus, has already demonstrated its ability to significantly increase customer interaction through personalised experiences and has attracted the attention of major technology companies”.

The company confirms an expected revenue growth of +10 percent for 2026 at constant exchange rates.

“The first quarter of 2026 closed with a 14 percent increase in turnover, a result we can certainly consider excellent. Globally, the brand's high-end image, positioned in the most exclusive luxury segment, remains very solid. We believe it is experiencing the best moment in our history,” commented Brunello Cucinelli, executive chairman and creative director of the fashion house listed on the Euronext Milan market.

The management added that the product, and therefore the spring/summer 2026 collections currently in stores, “which were judged to be particularly beautiful and creative, have shown very positive sell-outs from the very first weeks”.

“Feedback from the sales campaign for the autumn/winter 2026 menswear and womenswear collections confirms the very favourable response from the specialised international press and multi-brand clients. We have seen a solid order intake, which helps to strengthen visibility for the second half of the year. In this context, markets appear balanced and receptive, with an increasingly selective demand for novelty and quality. The brand's offering is fully in line with these dynamics, supporting a harmonious and coherent growth path,” Cucinelli stressed.

In addition to its product, the Solomeo-based company aims to build customer loyalty. It considers it important to highlight the centrality of the local customer, the reduced dependence on international tourism and the limited weight of the Middle Eastern market. This market accounts for about 5 percent, a figure also representative of the overall weight of the Middle Eastern customer, who is predominantly domestic for the brand.

Cucinelli's performance across core geographies

In Europe, sales amounted to 124.7 million euros, an increase of +4.4 percent (at constant exchange rates) compared to the first quarter of 2025, accounting for 33.8 percent of the total. Italy, which represents around 11 percent, reported a result substantially in line with the overall performance.

In the Americas, turnover was 137.7 million euros, an increase of +20.3 percent (at constant exchange rates) compared to the first quarter of 2025, representing a 37.3 percent share of the total.

In Asia, revenues amounted to 106.7 million euros, an increase of +17.8 percent (at constant exchange rates) compared to the first quarter of 2025, with a 28.9 percent share of the total.

As previously mentioned, the Middle East accounted for about 5 percent on an annual basis, with a customer base that is predominantly local. The United Arab Emirates stands out for its retail presence, while in other areas of the region, the brand operates through the wholesale channel. The note specifies that “the latest deliveries of the SS26 collections are being managed taking into account the current context in the Middle Eastern area”.

Adidas shares benefited from a positive outlook from Citigroup on the reporting season on Friday morning.

Shares in the Herzogenaurach-based company climbed by up to 1.4 percent on the Tradegate trading platform to almost 139 euros (162.4 dollars), above their previous day's closing price on Xetra. Technical chart resistance is expected at the 140 euro mark.

While there was some confusion surrounding the new price target from expert Monique Pollard, it is clear she is sticking with her buy recommendation and sees immense recovery potential. Adidas shares have lost 19 percent year-to-date.

Pollard sees strong global growth opportunities, particularly in the running shoe sector. Additionally, she views the upcoming Football World Cup as a massive sales driver.

A year on from Capri Holdings agreeing to sell Versace, the US fashion group has moved through a period of strategic upheaval, entering a new phase defined less by expansion and more by recalibration. At the core of its mission is the stabilisation of its remaining brands, Michael Kors and Jimmy Choo, where early signs of progress are emerging. The strategy itself, however, remains a work in progress. Here is everything that has happened so far;

April 2025: Versace sale announced

On April 10, 2025, Capri formally agreed to sell Versace to Prada for a reported discounted sum of 1.375 billion dollars. The move followed a blocked merger with fellow US conglomerate Tapestry that put a halt to Capri’s core consolidation strategy and mounting underperformance across brands, especially at Michael Kors.

The sale of Versace essentially served as a sign of Capri’s departure from its ambition to operate as a multibrand luxury conglomerate competing with European groups like LVMH. Instead, the company sought to establish itself as a more focused, financially-stable, mid-luxury operator, with the goal of strengthening financials over brand expansion.

Days after the announcement, chairman and CEO, John D. Idol confirmed the development of plans to increase shareholder value and strengthen the balance sheet through strategic initiatives, previously touched upon during an earlier investor day. With this, the executive set his sights on bolstering the growth of Capri’s remaining brands, Michael Kors and Jimmy Choo, as part of a businesswide reset.

August 2025: Early stabilisation

Capri began reporting as a two-brand business. Despite “better-than-expected” results, with the company swinging to a profit compared to the same period the prior year, Q1 FY25 (ending June 28, 2025) data showed shrinking revenue (down 6 percent) and smaller margins, particularly at Michael Kors.

During this period, Capri officially entered into a transition phase with no specific growth engine, instead relying on cost discipline and early-stage brand repositioning. Idol said at the time that the Q1 results were encouraging, having demonstrated strategic progress to revitalise its two brands.

September 2025: Physical revitalisation

Early revitalisation efforts became apparent in the rejuvenated Michael Kors store in London, where Capri appeared to be favouring intimacy, visual storytelling and a curated experience. The shift aligned with a wider trend among retailers for creating more carefully considered spaces with an experiential edge.

November 2025: A slip into red

While still exceeding management expectations, Capri slipped into the red during Q2 FY25 (ended September 27, 2025). Revenue fell 2.5 percent compared to the same period in the year prior, while operating loss increased from six million to 12 million dollars, despite significant cost reductions. The bottom line was a net loss attributable to shareholders of 28 million dollars, compared to a profit of 24 million dollars in the year before.

The report marked Capri’s lowest operational point, with negative operating margin and weak Jimmy Choo performance. The company did underline a planned debt repayment via Versace proceeds, however, as well as future share buybacks, hinting at a shift towards a shareholder return model. Idol remained optimistic, stating that trends had improved.

Share repurchase programme

Capri further confirmed the launch of a one billion dollar share repurchase programme due to start FY27, during which the company is also aiming to return to growth. The initiative exhibits a confidence in post-restructuring cash flow, as well as a shift toward financial discipline over mergers and acquisitions.

December 2025: From ‘misguided’ to ‘modern glamour’

A pivotal moment came in December when Idol admitted that the previous repositioning of Michael Kors was “misguided”, noting that the brand had drifted from its core identity. The public nod to brand mismanagement was a rare moment in the industry, with Idol having acknowledged that attempts to “premiumise” an accessible luxury label had fallen flat. Additionally, an overextension and assortment changes had alienated core customers, forcing the team to reevaluate their approach.

Instead, Idol underlined an intention to restore Michael Kors’ “modern glamour” identity, returning to its “jet-set” roots through hotel-based storytelling, the renovation of over 50 percent of its global store fleet, and a renewed emphasis on ready-to-wear, which will have an expanded presence in renovated sites. The brand’s pricing architecture is also being restructured to reflect this revised aesthetic, with reduced reliance on promotional activity and a restoration of value perception on the table.

Versace sale finalises

This same month, Prada finalised the sale of Versace, officially taking the Italian luxury brand off Capri’s hands. The move ushered in somewhat of an immediate financial transformation for Capri, reducing its net debt dramatically from 1.17 billion dollars to 80 million dollars, opening up the capacity for reinvestment.

Under Cpari’s new mini-conglomerate setup, Michael Kors was positioned as the core revenue driver while Jimmy Choo was deemed a smaller, yet still important asset, dispelling any prior speculation that the footwear brand would follow Versace in a sale.

February 2026: A balance sheet clean-up

The Q3 FY25 period (ended December 27, 2025) presented Capri as a financially stable but commercially challenged company. Overarching revenue fell 4 percent, driven by a 5.6 percent decline at Michael Kors yet offset by 5 percent growth at Jimmy Choo, returning the brand to growth. Operating profit rose to 46 million dollars, while net profit jumped from six million to 57 million dollars. Tariff developments, however, caused the company’s gross margin to fall to 60.8 percent.

While the surprisingly solid figures showed promise in the turnaround, the continued revenue decline showed that such efforts were not yet translating into a recovery in demand.

Michael Kors’ 45th anniversary show

Michael Kors’ NYFW show for its AW26 collection served almost as a visualisation of Capri’s turnaround efforts. Following the theme ‘New York Chic’, the collection personified the “modern glamour” aesthetic Idol was striving for, present in a string of reinvented wardrobe classics that were accentuated by Kors’ signature colour range.

March 2026: From ‘cautious’ to ‘optimistic’

At Citi's 2026 conference, Idol stated that Capri had moved from “cautiously optimistic” to “optimistic”. The confidence is based on early traction in full-price channels, store renovation performance, and Jimmy Choo’s growth.

Michael Kors solidified

At Michael Kors, Capri has committed to a 300 million dollar investment to renovate 350 stores, 100 of which are expected to be revamped in FY26. The company is also planning a global rollout of its ‘Jet Set Lounges’, a contemporary expression of the brand’s ‘jet-set spirit’. The first opened in Beijing last week.

Elsewhere, the company is continuing to realign its pricing strategy after seeing an improvement in full price sales amid a continued reduction in reliance on promotions and off-price. Idol said the reset has led to higher full-price sell-through and rising engagement after a successful correction of elasticity misjudgement.

Jimmy Choo growth pillar

At Jimmy Choo there has been a major shift in perspective, pivoting the brand from an optional asset to a credible growth pillar. The company is targeting 800 million dollars in revenue, with accessory sales expected to make up 40 percent of sales. Such a shift is present in the move from an occasion footwear focus to a wider lifestyle focus, positioning the brand as a strategic bridge between luxury and accessible luxury.

CMO appointment

Capri’s recent appointment of Corey Moran, formerly of Google, as chief marketing officer builds on efforts to more strongly emphasise data-driven marketing and customer engagement, with a focus on integrating brand storytelling. Moran’s background suggests a shift towards performance-led marketing, particularly within digital channels, where Capri has already increased investment.

Conclusion: What next for Capri

Capri has undergone a clear structural shift over the past year, moving from a multibrand luxury ambition to a more focused turnaround model built around two core brands. The strategy is underpinned by respective revivals, while margin improvement, inventory discipline and capital return also remain key.

Regionally, North America and Europe remain resilient, while Asia, particularly China, is rebounding. Despite this, the next phase of the business will be shaped by a number of tensions, requiring the company to rebuild brand desirability without undermining accessibility.

AI is advancing faster than most ecommerce operating models can absorb. As brands expand internationally, many are layering AI tools onto fragmented systems, creating new points of complexity rather than resolving the underlying ones that directly impact conversion, cost and customer experience.

The opportunity is not just applying AI, but rethinking how global commerce is operated – bringing payments, compliance, localisation, logistics and customer experience into a more connected system.

At ESW, we’re already doing this for brands as they scale internationally – solving this underlying complexity across payments, localisation, compliance and logistics, and translating that into measurable commercial returns.

Until now, most AI applications in ecommerce have focused on supporting decisions; improving product discovery, personalisation or customer interactions.

That has value, but it largely optimises the visible layer of ecommerce – not the infrastructure that determines whether a transaction succeeds or fails.

This is why many brands see marginal gains from AI – because the underlying friction in payments, localisation and fulfilment remains unchanged.

Agentic AI represents a shift towards systems that can act autonomously – systems designed to learn from data, adapt to changing conditions and execute decisions in real time across multiple parts of the ecommerce journey. In other words, AI moves from advising humans to actively running critical parts of the commerce engine. This has clear implications for fashion brands.

Checkout is one example. Consumer preferences vary significantly by market, from payment methods to fraud dynamics. Instead of relying on static configurations, agentic systems can continuously adjust checkout flows to improve conversion and reduce risk.

This replaces periodic optimisation with continuous, market-specific execution – something most internal teams cannot realistically maintain at scale.

Applied within a coordinated operating model, like ESW’s, this intelligence enables more predictable performance market by market, without forcing brands into rigid systems.

Similarly, in areas such as returns – where cost and customer experience are closely linked – AI can help optimise routing decisions, balancing speed, cost and resale potential.

When applied effectively, this approach delivers tangible results by removing friction across the customer journey. In one case, a global fashion brand moved from a fragmented setup to a more intelligent, localised model, improving payment acceptance, aligning pricing and duties at checkout, and reducing delivery uncertainty. The result was a step-change in performance: order volumes increase by 60 percent within the first month. At the same time, average order values rose by over 50 percent, while checkout conversion improved by double digits. Those gains were sustained over time, demonstrating the long-term impact of a system-level approach.

A practical industry perspective: how agentic AI is applied in global ecommerce

Eoin Greene, Chief Technology Officer at ESW, explains how brands are moving from AI experimentation to real-world execution, and what it takes to make global ecommerce perform at scale.

What impact is AI having on global ecommerce right now, and how do you see you this developing into the future?

“AI has been around for a while, but most of what brands have implemented so far sits on the surface; recommendations, chatbots, bits of automation. That’s useful, but it doesn’t solve the core problem. While its full impact has not yet been realised, AI is fundamentally changing what customers expect from their online ecommerce experience in how they research and find the best product or solution for their needs.

“For companies, the real challenge in global ecommerce is complexity. You’ve got different payment methods, different regulations, and different logistics models across every market. That’s where global commerce breaks down. AI becomes increasingly valuable when it can operate across that full system – not just support decisions but actually make and execute them.”

How does this translate into measurable performance improvements?

“When you get the operating model right, the impact is immediate. We’ve seen brands increase order volumes by 60 percent within the first month. Order values up over 50 percent. Conversion up double digits. Those are meaningful numbers.

“What’s often overlooked is that these gains come from removing friction customers were already experiencing – friction that brands typically don’t see in aggregate reporting.

“And it’s not just a spike. The performance holds because the technology keeps learning and adapting. That’s the difference between automation and something that’s actually intelligent.”

What does this mean for fashion brands trying to scale internationally?

“For fashion brands, customer trust is built or lost in the details. Is checkout familiar? Is pricing clear? Are duties handled properly? Does the delivery and returns experience match what the brand promises?

“Luxury and premium brands, in particular, underestimate how quickly poor localisation erodes brand equity in new markets.

“As brands scale internationally, the challenge is ensuring these elements operate as a single coordinated system. Payments, compliance, logistics and experience need to operate as one system, while still reflecting the brand customers expect.”

What differentiates this approach from more standardised solutions?

“A lot of solutions try to simplify global ecommerce. They standardize everything so it’s faster to deploy. That works up to a point. But if you’re a fashion brand, you can’t compromise on experience or localisation. That is where conversion and margin come from.

“The bigger issue is how AI is being applied. Many retailers are layering AI on top of fragmented systems, and AI that sits on top of complex, siloed operations won’t be as effective as it could be if everything were more aligned.

“The difference this approach brings is structural. AI embedded within the operating model behaves fundamentally differently from AI layered on top – it can coordinate execution across payments, compliance, logistics and experience.

“That’s what enterprise brands require as they scale.”

From AI potential to commercial outcomes

As AI adoption matures, the focus for fashion brands is shifting from experimentation to execution.

The focus now is how AI is applied to deliver consistent, measurable outcomes across markets.

For enterprise brands, that means looking beyond individual tools and asking whether the systems behind international ecommerce can scale without compromising brand experience, margin or control.

Agentic AI represents a significant step in this direction. By enabling systems to operate across the full complexity of global commerce, it allows brands to improve performance while maintaining control over brand experience.

Ultimately, success in international ecommerce comes down to a small number of factors: driving revenue, managing cost and protecting the brand.

AI delivers against all three when it is embedded across payments, localisation, compliance, logistics and returns, not treated as a standalone layer.

For fashion leaders, the implication is clear: the competitive advantage will not come from adopting AI faster, but from applying it where it fundamentally changes how the business performs.

To see how ESW helps fashion brands scale globally visit esw.com.

HVEG Brands Group is taking a significant step in its ESG strategy. With the B Corp certification of Bamboo Basics, Brams Workwear and Maison de Paris, the group further embeds responsible business practices at the core of its organisation. The certification underscores the collective ambition to make a structural positive impact on people, the environment and society.

Within the group, there is a conviction that business extends beyond achieving economic results and can contribute to a more sustainable future for current and future generations. Achieving B Corp status serves as an independent validation. It confirms that the brands meet high standards of social and environmental impact, transparency and governance.

A collective approach

In 2024, HVEG Brands Group began an intensive B Corp process, guided by the Dutch consultancy NoDodos. This process focuses not only on what companies do, but primarily on how they operate. It assesses all parts of the organisation, from internal processes and employee policies to supplier relationships and environmental impact.

By undertaking the process at a group level, sustainability principles are not only implemented per brand but are also centrally embedded. According to the group, this ensures a consistent approach and provides scope for further growth without compromising on established standards.

Concrete steps in the supply chain

The transition to B Corp has led to concrete, measurable steps in the supply chain. For instance, agreements with suppliers have been tightened and formalised in a joint Code of Conduct. Production sites are monitored through independent audits, including BSCI and BEPI assessments.

Additionally, the use of certified materials has been expanded and packaging has been optimised with the aim of reducing ecological impact. Internally, there is also a greater focus on inclusivity, well-being and transparent policymaking.

Continuous improvement as a guiding principle

Within HVEG Brands Group, the certification is not seen as an endpoint but as the beginning of a continuous journey of improvement. The organisation continues to set ambitious goals and communicates openly about both the successes and the challenges involved in the transition to a circular fashion industry.

This approach aligns with the belief that social impact and commercial success can go hand in hand. By embedding these principles at the core of the organisation, HVEG Brands Group aims to contribute to a new standard within the sector.

Role of the brands

Within the joint certification, each brand retains its own identity. Bamboo Basics, known for soft and comfortable underwear, continues to focus on material innovation, including bamboo and Circular Made fibres. Brams Workwear and Maison de Paris translate the collective sustainability goals into their respective segments.

What connects the brands is a shared focus on quality, transparency and responsibility. By collaborating within the HVEG Brands Group, this vision is strengthened and further developed.

Move beyond the limitations of omnichannel. Learn how a single, real-time foundation of data and systems can future-proof your retail operations.

Building the Backbone: Essential Capabilities for Modern Retail

The effectiveness of unified commerce relies on a fully integrated technology stack where every core function is native to a single platform, not just connected via temporary patches. The whitepaper identifies four critical systems:

• Centralised Inventory Management: Provides a "single source of truth" for stock across all warehouses and stores. This enables high-velocity fulfillment options like BOPIS (Buy Online, Pick Up In Store) and "ship-from-store" while preventing costly overselling.
• Unified CRM: Consolidates every customer interaction and purchase history into one profile. This allows retail staff to offer personalized service and loyalty rewards consistently, whether the customer is online or in-store.
• Modern POS: Acts as the in-store extension of the digital stack. It allows staff to access enterprise-wide stock, place "endless-aisle" orders, and process cross-channel returns effortlessly.
• Consolidated Order Management (OMS): Unifies orders from social, mobile, and web into one workflow. For fashion retailers, this is key to routing orders from the nearest location to cut delivery times and improve satisfaction.

Want to find out more? Get in touch.

As a Chief Sales Officer, you are accountable for revenue performance.
Not for forecasts.

Forecasting supports planning.
Control defines leadership.

Yet many CSOs experience the same structural frustration:
Why can’t I control wholesale performance in real time?
Why do we react to deviations instead of steering them?
Why is cross-market visibility fragmented?
Why does margin erosion become visible only after it accumulates?

Forecasting predicts.
Control steers.

And global fashion wholesale requires steering power.

Learn more:
https://www.fire-digital.com/en/use-cases/department/sales-manager

The Structural Gap Between Forecasting and Control

Forecasts are created before the season starts.
But volatility happens during the season.

Typical CSO-level challenges include:

• Unexpected bestseller acceleration
• Slower-than-expected regional performance
• Delayed reorder activation
• Allocation imbalance across markets
• Margin pressure building silently

Forecast reports explain variance.
They do not enable immediate correction.

For a CSO, the core question is not whether the forecast was accurate.
The real question is whether performance is steerable while it unfolds.

Why ERP and CRM Are Not Enough

ERP systems answer:
What has been ordered?
What is in stock?
What has been invoiced?

CRM systems answer:
What is in the pipeline?
Which opportunities are active?
What is the communication status?

But neither answers the decisive executive question:
Where is performance shifting right now — and what should we do about it?

ERP records transactions.
CRM tracks relationships.

Neither provides real-time wholesale steering.

FIRE: The Wholesale Control Layer for CSOs

FIRE is not a forecasting model.
It is not an ERP extension.
It is not a CRM replacement.

FIRE is a real-time wholesale sales control platform designed for executive-level steering.

It connects:

• Preorder development
• Ongoing order intake
• Reorder dynamics
• Live sell-out signals
• Cross-market SKU comparison

Into one unified control environment.

For a CSO, this means:

• Immediate global transparency
• SKU-level cross-market visibility
• Early deviation detection
• Coordinated allocation adjustment
• Structured reorder acceleration

Instead of waiting for month-end reports, performance becomes visible and steerable in real time.

From Reactive Reporting to Active Steering

Without a control layer, the process looks like this:
Forecast
Order intake
Sell-out
Variance analysis
Damage control

With FIRE, it becomes:
Forecast
Live performance tracking
Early signal detection
Mid-season intervention
Margin protection

The difference is timing.
And timing defines profitability.

Practical Example: From Fragmented Visibility to Executive Control

A global fashion brand operating across North America, Europe and Asia relied heavily on seasonal forecasting and regional reporting.

The CSO faced recurring issues:

• Delayed reaction to trending styles
• Reorder signals identified too late
• Regional performance comparisons inconsistent
• Allocation imbalances between markets
• Margin pressure detected only after quarter close

After implementing FIRE as a wholesale control layer:

• SKU-level performance became visible across all regions in real time
• Bestseller acceleration was identified early
• Reorder timing improved significantly
• Allocation decisions were adjusted mid-season
• Executive dashboards enabled instant cross-market comparison

Forecasting remained important.
But performance was no longer dependent on retrospective reporting.
The CSO gained structural steering capability.

Margin Protection Is a Steering Issue

Wholesale margin is influenced by:

• Timing of allocation
• Speed of reorder activation
• Early trend identification
• Cross-market balance
• Inventory synchronisation

Even a 3–5% improvement in mid-season steering can translate into millions in protected contribution margin in large wholesale organisations.

Forecast accuracy reduces planning risk.
Real-time control protects profit.

Aligning Global Sales Teams Under One Framework

One of the biggest structural challenges for CSOs is fragmentation.

Regional teams:

• Use different KPI definitions
• Apply different presentation logic
• Operate at different speeds
• Optimise locally instead of globally

FIRE standardises:

• Performance visibility
• SKU-level data structure
• KPI logic
• Cross-market comparison

Global alignment becomes systematic rather than coordination-heavy.

AI-Supported Executive Steering

Many CSOs ask:
How can we make wholesale sales AI-ready?

AI requires:

• Structured behavioural data
• Continuous SKU-level tracking
• Connected sell-out performance
• Seasonally comparable datasets

FIRE creates the real-time data architecture necessary for AI-supported executive steering.

Without structured control data, AI remains theoretical.
With FIRE, AI becomes operational.

Executive Summary

Forecast models support planning.
ERP records transactions.
CRM tracks pipeline.
FIRE enables real-time wholesale performance control.

That is the structural difference.

FAQ – Real-Time Wholesale Control

Why are forecasts not enough for wholesale sales management?
Forecasts support planning before the season begins but do not allow active performance steering during the season. When demand patterns change, companies need real-time visibility into orders, sell-out signals and market performance to react quickly.

What is real-time wholesale performance management?
Real-time wholesale performance management allows sales leaders to monitor order intake, product performance and regional sales dynamics continuously. This enables faster reactions to demand shifts, better allocation decisions and more effective reorder activation.

Why do Chief Sales Officers need real-time data?
Chief Sales Officers are responsible for revenue performance across markets. Real-time data helps them identify emerging trends, detect performance deviations early and coordinate sales actions globally.

Why are ERP systems not enough for sales steering?
ERP systems focus on transactions, inventory and financial processes. While they provide important operational data, they usually do not offer real-time insights into buyer behaviour, SKU-level demand patterns or cross-market sales performance.

How does real-time transparency improve wholesale profitability?
When sales performance can be monitored in real time, companies can react earlier to market signals. This enables faster reorders, better allocation decisions and earlier correction of underperforming categories.

What data is required for modern wholesale steering?
Modern wholesale steering relies on structured data such as preorder performance, order intake trends, SKU-level demand signals, sell-out performance and reorder dynamics. Combined, these datasets enable more proactive and data-driven decision-making.

About FIRE

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

Positioned as a wholesale control layer between CRM, ERP and market execution, FIRE enables Chief Sales Officers to move from forecast dependency to real-time steering.

FIRE connects:

• Digital showroom interaction
• Structured preorder processes
• Live order development
• Reorder dynamics
• Sell-out signals
• Cross-market executive dashboards

All within one unified system.
Middleware-based.
ERP- and CRM-compatible.
Upgrade-safe.
AI-ready.

FIRE transforms wholesale from reactive reporting to controllable performance.

Learn more:
https://www.fire-digital.com

Tokyo - Japanese ready-to-wear giant Fast Retailing (Uniqlo) on Thursday again raised its forecast for its 2025/26 fiscal year. This follows robust first-half profits. The company intends to accelerate its international expansion, particularly in the US, where it is partnering with the leading baseball team, the Dodgers.

The Japanese apparel champion had its fourth consecutive year of record profits in its 2024/25 fiscal year, which ended in late August. It has significantly accelerated its expansion outside the archipelago since the slow period of the Covid-19 pandemic.

It now forecasts an operating profit of 700 billion yen (4.40 billion dollars) for the 2025/26 fiscal year, which began in September, up from 650 billion previously. A net profit of 480 billion yen is also expected, up from the previous forecast of 450 billion.

Sales are expected to soar by some 14.7 percent for the fiscal year to reach 3.9 trillion yen, a forecast that has also been raised.

This improvement reflects strong results for the September-February period, boosted by “robust sales for Uniqlo in all regions, with the brand achieving record half-year results and ever-growing international support”.

For the first half of the year, the Japanese group's turnover soared by almost 15 percent year-over-year to 2.055 trillion yen. Net profit reached 279.2 billion yen, an increase of almost 20 percent.

Sales for Uniqlo, its flagship brand, recovered in Japan (+7.4 percent). They also soared by 22.4 percent internationally, generating an increase in operating profit of almost 40 percent year-over-year.

The turnaround is confirmed in China, its largest market outside Japan. While its sales and profits had plummeted there in the last financial year, Uniqlo International now reports a rebound in turnover for the first half. It also saw “double-digit” profit growth in mainland China, where it benefited from the Lunar New Year sales.

Meanwhile, Uniqlo is posting “double-digit” growth in sales and profits for the first half in both North America and Europe, stating that it sold its winter ranges well there.

The North American market is its most coveted prize. Fast Retailing has just signed a major agreement with the Los Angeles Dodgers, the champion team of the National Baseball League, whose ranks include star Japanese player Shohei Ohtani.

Uniqlo's red and white logo will be visible in the stadium. This is a way of capitalising on the passion of Japanese and American baseball fans, offering Uniqlo exceptional visibility.

According to Bloomberg, Fast Retailing generates less than 10 percent of its turnover in the US and has only 3 percent of its points-of-sale there, heralding significant growth potential.

International resale platform Vinted has unveiled its annual results for the 2025 financial year. The group reported significant growth in its global business volume, reaching 10.8 billion euros (12.59 billion dollars), a 47 percent increase on the previous year. Revenue totalled 1.1 billion euros, marking a 38 percent year-over-year increase.

This expansion phase was accompanied by a drop in the company's immediate profitability. Adjusted EBITDA stood at 151 million euros, a decrease of 5 percent, while net profit reached 62 million euros. This represents a 19 percent decrease compared to the 77 million euros recorded in 2024. The decline in profits is attributed to strategic investments in developing the German market; expanding product categories; extending logistics services across Europe; and introducing new payment solutions. Free cash flow, meanwhile, grew by 36 percent to 137 million euros.

Expansion of categories and geographical development

In 2025, Vinted focused on diversifying its product offering. Womenswear and kidswear remain the platform's core business. However, it has expanded its catalogue to include other consumer goods categories, such as sporting goods and collectibles, to attract a broader audience.

Geographically, the group improved its performance in the German market through an enhanced product proposition and targeted return on investment. Vinted also consolidated its European presence by entering new markets, including Latvia, Estonia and Slovenia.

Strengthening of the logistics ecosystem

The group continued to develop its infrastructure to support the growth of its transaction volumes. The delivery partner network now includes over 500,000 pick-up and drop-off points across Europe. Vinted Go, the internal transport service, was launched in Spain and Portugal, and a new sorting centre was opened in France. The company has also started testing its logistics infrastructure with external clients. Vinted Go currently operates in five markets: Belgium, France, the Netherlands, Portugal and Spain.

In a statement, Vinted's chief executive officer, Thomas Plantenga, suggested the company's strategy is to create a resale ecosystem that maximises value for its members at the lowest possible cost. “To achieve this,” he said, “we are investing in technology to have a sustainable and scalable impact.” He added: “This is why we are improving our product, investing in member safety and support, while strengthening the pillars that underpin the marketplace: shipping and payments.”

Plantenga noted that these technological developments lead to faster sales, with buyers finding what they want more easily and “at the best price”. He specified that value increases as the marketplace improves significantly with each new member. He concluded: “In 2025, this occurred across every growth vector we have, resulting in strong growth and, more importantly, a more efficient and solid foundation that will drive the future shift from new to second-hand consumption.”

This article was written in part with the assistance of an artificial intelligence tool and was subsequently edited and completed by a FashionUnited journalist.

Paris, France - Swedish ready-to-wear group H&M plans to close the French design studio of its brand & Other Stories. A representative for the brand confirmed this to AFP after the trade union Force Ouvrière raised concerns about the elimination of just under 30 positions.

"We must continue to strengthen our business for the long term and ensure a sustainable operating model in all the markets where we operate," the fashion giant explained.

"To meet these challenges, we plan to close our Paris studio with the aim of consolidating the entire creative and design team in Stockholm, Sweden," the group continued. It declined to comment further as the process is currently under consultation with employee representative bodies.

According to Force Ouvrière, 26 of the 28 designer and buyer positions will be eliminated. “These roles are held almost exclusively by women, some of whom have been with the company since it opened more than ten years ago,” Nicolas Levy, an FO H&M union representative, told AFP.

According to the union representative, “the brand’s turnover has decreased” since the arrival of new creative director Jonathan Saunders in 2025, which would explain the move to cut costs.

Founded in 2013, & Other Stories offers womenswear and accessories. The brand has a global presence with 66 stores, including three in France, across 24 countries and is available online in 32.

In the first quarter, H&M reported a 22 percent increase in its net profit, reaching 704 million crowns.

Finnish textile technology company Spinnova has started test runs at its Woodspin demonstration factory in Jyväskylä, the company announced in a press release. The aim of these trials is to validate its recycling technique, which converts plant-based material into textile fibres, on a larger scale to increase production efficiency and fibre quality. If the test phase is successful, Spinnova aims to resume larger-scale production later this year.

The restart follows a turbulent period for the company. In June 2025, production came to a complete halt and employees were temporarily laid off after former joint venture partner Suzano decided to cease further investment. Spinnova subsequently took over all of Suzano's facilities in October to maintain control over the development of the Spinnova fibre.

CEO Janne Poranen emphasises that this step should pave the way for future industrial supplies to fashion companies. Serious interest in purchasing the recycled fibres has previously been shown by apparel companies such as H&M Group, Marimekko and The North Face. Last month, Swiss industrial engineering and manufacturing company Sulzer joined as a tech partner to accelerate scaling and help improve Spinnova's competitive position.

The court-ordered judicial administration for Valentino Bags Lab SrL, a company belonging to the fashion house Valentino, has been ended early, according to media reports.

According to a report by the news agency Reuters, the measure was imposed in May last year because the company, which produces accessories for the Valentino brand, allegedly worked with Chinese-led subcontractors where exploitative working conditions were prevalent. A one-year judicial administration was ordered at the time. This has now been lifted early.

According to the report, the fashion house welcomed the decision. The company stated it has strengthened its governance criteria and introduced more selective procedures for choosing suppliers to ensure better monitoring and control of the supply chain. Last year, Italian courts targeted a number of fashion companies to curb illegal labour practices at subcontractors.

A perfect smile, a flawless body, an outfit that fits like a glove. The image looks normal in an online shop; after all, it is a model. Or is it? Increasingly, these images are not created by real people, but by artificial intelligence (AI). Companies are using AI more and more in their online shops, promising speed, efficiency and lower costs. For models worldwide, this raises a fundamental question: will the industry even need real people in front of the camera in the future?

AI in the daily life of international models

“AI is no longer a topic for the future. It is already part of our daily work,” Ukrainian model Stasya tells the German Press Agency. She has worked as an international model for several years, most recently for an extended period in China. She experienced the AI transformation particularly clearly there, with faces being digitally transferred onto other bodies after shoots. Working hours have also been shortened, which she sees as a consequence of using AI. This raises serious ethical and legal questions.

Clients are also now presenting contracts that explicitly permit the use of models' faces for AI purposes. “You think about job security and whether you can still earn enough in the future,” she reports. Simultaneously, she sees a potential market shift. AI could accelerate standardised mass production, while high-quality campaigns with real teams and physical sets could gain exclusivity.

Diversity: Real variety already exists

Berlin-based model Annika Schnauffer does not see AI as a dominant threat. Competitive pressure is already a given in an overcrowded industry. It often remains unclear whether a job is lost because of AI. She can most easily imagine digital figures in standardised e-commerce, where large quantities of images are produced with little creative scope. Schnauffer is critical of the diversity debate. AI can simulate diversity, but she notes, “there are enough people and models that you could book for real”.

AI has already arrived in German e-commerce

AI models are no longer a vision of the future in Germany. Hamburg-based retailer Otto already uses generative AI to create photorealistic model images of synthetic, fictional people, according to the company. This allows new collections to be made available online within a few hours. Its use is limited to the online shop and only for product presentations where real people were not previously featured, the company states. AI primarily fills the gaps where traditional photo productions reach their economic or organisational limits.

Online fashion retailer Zalando is taking a different approach. The company works with digital twins of real models, according to its statements. These high-resolution 3D replicas are created based on traditional photoshoots. Real people continue to be in front of the camera for creative campaigns. The company states that it only uses purely AI-generated models without a real-life counterpart in exceptional cases, for instance, to avoid shoots with children or to react quickly to trends.

Model agencies between resistance and adaptation

The debate within model agencies is running in parallel, focusing less on technology and more on rights. “We are not currently experiencing a massive loss of bookings,” says Carlos Streil, a model scout at Frankfurt-based agency East West Models. However, there have been enquiries, including from major clients, with contracts requiring models to cede rights for AI use, such as for data collection and subsequent use as an AI model. These agreements have been rejected. In principle, however, the agency is not against AI, as long as avatars are created based on real models and the models continue to be paid.

Carmen Weigel, head of the Berlin-based model agency BMM, argues with similar pragmatism. She considers Zalando's approach promising. Digital avatars of real models could be licensed without the models having to be physically present on set. This is economically attractive, as licensing fees are often higher than traditional day rates. However, she does not expect a widespread displacement of real people. For Weigel, modelling is more than being photogenic: “For me, a model is more of a talent,” she says. “It is not just about being beautiful, but about charisma, posture and the potential for identification.”

Legal aspects: Labelling, consent and guidelines

Legally, much remains unresolved, especially the question of how AI-supported content in e-commerce must be labelled. Weigel calls for clear labelling and warns against new, even more unrealistic body images, with consequences for models and young women who would end up comparing themselves to computers.

Although she believes this is difficult to regulate by law, agencies must be particularly cautious when licensing their models' images for AI avatars that could be resold to brands. Models need to understand exactly what is happening with their face and be adequately compensated. Weigel also points to the long-term dimension. A face, once digitised, could continue to be used long after death, making informed consent and clear contractual limits all the more important.

Otto describes the debate in Germany and the EU as being “in flux”. Binding regulations and guidelines for e-commerce have not yet been finalised. While Zalando emphasises its commitment to transparency, it still sees grey areas. For digital twins based on real models and real clothing, where AI only supports parts of the production, the label “AI-generated” can sometimes fall short.

Customer decides

Ultimately, it is the market, not technology alone, that decides, says Streil. Weigel agrees: “In the end, customers vote with their wallets.” Brands have already experienced how public pressure can change strategies. Weigel points to “Victoria's Secret”. After criticism of its narrow beauty ideal in the 2010s, customers turned away, sales fell and its image faltered.

How the industry will continue to develop remains to be seen. For Schnauffer, it is also a question of power: “In the end, as a model, you are somewhat at the mercy of how the industry moves forward.” The decisive factor will likely be whether clear rules can be established for consent, use and remuneration when faces become data.

Madrid – Optimism is taking hold of the markets following the hopeful bilateral ceasefire agreed between the governments of the US and Iran in the early hours of Wednesday, April 8, Central European Summer Time. The agreement, reached for the next two weeks, is based on open negotiations for a “definitive” and “long-term” peace deal. It will also guarantee “safe passage” through the Strait of Hormuz.

Given such an encouraging outlook, the markets have responded swiftly to the beginning of the end of a crisis. This crisis was already impacting consumer spending and affecting a wide range of companies across various sectors. The response has sent the share values of major European listed companies soaring. This revaluation of shares has been seen almost across the board throughout the day. For the IBEX 35 index, the only exception has been energy companies. Their share values are in the red, which can be attributed to the fall in oil and gas prices resulting from the “guarantees” for the opening of the Strait of Hormuz.

Within the fashion industry specifically, the performance has been diametrically opposed to the “Black Monday” on March 2. That day followed the attacks on Iran by the US and Israeli armies on February 28. Major European listed fashion companies are generally experiencing a very positive trading day. The market's optimism for the sector is proving much stronger than the fears expressed after that last Saturday in February. The current gains far exceed the losses recorded at that time. It should be noted that those losses were followed by several successive days of falling share values for major European listed fashion companies. The sector had been triply affected by this latest crisis in the Middle East. Firstly, by disruptions to its value chains, which led to delays in certain product deliveries. Secondly, by increased costs related to both imports and manufacturing processes caused by the same disruption. Thirdly, by a drop in consumption that was beginning to be felt among consumers, resulting from the uncertainties generated by the crisis.

European fashion is “dressed in green” on the stock market

With many of these uncertainties now somewhat dispelled, the stock market performance of major European listed fashion companies has been more than positive. This was evident at the opening of Wednesday's trading session. Following the confirmation of the two-week ceasefire between the US and Iran, based on negotiations for a long-term Peace Agreement and the opening of the Strait of Hormuz, the shares of major fashion companies soared. They recorded revaluations ranging from +2.71 to +8.22 percent.

At the two ends of this range, at the market open this morning, were the British group Burberry (+8.22 percent) at the top and the Swedish fashion multinational H&M Group (+2.71 percent) at the bottom. From there, the companies evolved differently. Burberry's shares lost some momentum, currently trading at 1,143 pence compared to Tuesday's close of 1,069.80 (+6.84 percent). H&M's shares gained strength, trading at 176.75 Swedish kronor compared to the last session's close of 171.25 (+3.21 percent).

As for other updates, shares of the French multinational holding company LVMH are currently trading at 500.70 euros (+7.25 percent); Kering's at 275 euros (+6.69 percent); and Hermès' at 1,781 euros (+8 percent). Regarding the two major Spanish listed companies, shares of Inditex, owner of Zara and other chains like Bershka, Stradivarius and Massimo Dutti, are currently trading at 53.18 euros (+5.97 percent). Puig, which is currently in negotiations for a potential merger with the US company The Estée Lauder Companies, has its shares trading at 17.70 euros per share (+3.14 percent).

The United States Department of Health and Human Services (HHS), a federal government department focused on protecting the health of Americans and providing essential human services, has launched a 144 million US dollar programme to investigate how microplastics build up within the human body and look for ways to protect people against their potential health impact.

The Advanced Research Projects Agency for Health (ARPA-H), an agency within HHS, dubbed the initiative the Systematic Targeting Of MicroPlastics, or STOMP, and said the nationwide programme would create a framework for measuring, researching, and affordably removing microplastics and nanoplastics (MNPs) in the human body.

“HHS is taking decisive action to confront microplastics as a growing threat to human health,” said HHS Secretary Robert F. Kennedy, Jr in a statement. “Americans deserve clear answers about how microplastics in their bodies affect their health. Through ARPA-H’s STOMP programme, we will measure microplastic exposure, identify sources of risk, and develop targeted solutions to reduce it.”

Microplastics, which are often invisible to the naked eye, come from a wide range of everyday products and industrial processes, including personal care products and synthetic textiles, and have been detected in lungs, arterial plaques, and brains, through food, air and water. Animal case studies have also shown that microplastics cause disease, while human studies have shown a high correlation.

ARPA-H added: “Yet to date, we are still remarkably in the dark. We don’t have a precise way to measure microplastics in our organs, nor do we understand which ones are affecting us in what ways, because each plastic works differently.

“This is important: We can’t clear what we can’t measure, and we can’t develop interventions that are precise, safe, and effective for impacts we don’t understand.”

The STOMP programme, led by Drs Ileana Hancu and Shannon Greene, has been tasked with creating tools that will be affordable and accessible to reach the masses and help lower the downstream costs of treating and preventing microplastic-related disease.

Alicia Jackson, director of ARPA-H, said: “Microplastics are in every organ we look at, in ourselves and in our children. But we don’t know which ones are harmful or how to remove them.

“Nobody wants unknown particles accumulating in their body. The field is working in the dark. STOMP is turning on the lights.”

The programme’s three technical focus areas will be split into two phases: first, measurement and mechanism, and second, removal. During phase one, STOMP will design experiments to understand microplastics within the human body, including a clinical test that will quantify individual microplastic burden, to make monitoring and intervention possible at scale.

Madrid – Since confirming on March 24 that they were in negotiations for a potential merger of their respective businesses, Puig and The Estée Lauder Companies have not provided any new official information. The only exception was a statement in which the Spanish company updated its financial calendar at the end of that week. This has not prevented information about the potential merger from being leaked since then, with varying degrees of bias and reliability. It is suggested that a definitive agreement could be announced “in the coming weeks”.

Financial publication Bloomberg provided an update on April 1, citing anonymous sources “close” to both companies. The update concerned the current progress of the merger negotiations between Puig and The Estée Lauder, suggesting that the agreement could be “formally announced in the coming weeks”. This speculation was qualified by a warning that the groups have not yet reached any definitive agreement. Therefore, negotiations for their potential merger remain open, with the possibility that they may not ultimately reach an understanding. It was also noted that Puig has made it an essential requirement for the family to have a significant presence on the board of directors of the post-merger company.

Building on this information, financial publication Expansión reported earlier this week that representatives of the Puig family had travelled to New York. Their aim is to accelerate negotiations for the potential merger of the Spanish group with its US counterpart. It is presumed that Marc Puig is leading the Spanish company's delegation. He stepped down as chief executive officer in early March to exclusively assume the role of executive chairman of the board of directors. The specific objective was to remain, and we quote, “focused on the company's mergers and acquisitions strategy”.

This particular mention cannot be separated from the announcement confirming negotiations with The Estée Lauder, which came just one week after the internal restructuring. It could now be followed by Marc Puig joining the board of directors of The Estée Lauder Companies. This appointment would fulfil the “essential requirement” demanded by the Puig family to approve the deal. However, sources accessed by Expansión indicate that the Puigs are demanding not one, but two seats on The Estée Lauder's board of directors. These seats would be occupied by Marc Puig Guasch, chairman of Puig's board since 2007, and Manuel Puig Rocha, his cousin and vice chairman of Puig's board, also since 2007.

A 50 billion dollar beauty giant

Despite the ongoing doubts about the execution and integration of the deal, which has affected the share prices of Puig and The Estée Lauder differently from the outset, it is already assumed that if the merger goes ahead, it will involve the integration of Puig into The Estée Lauder. It is also ruled out that the group will adopt a new name. This will lead to the de facto disappearance of Puig as an independent company and a benchmark in the luxury fashion and beauty sector. This would be a definitive farewell to its 112-year history. Nevertheless, the family members would try to keep its legacy alive, both from their positions on the board and by leveraging their weight in the shareholding of the “new” The Estée Lauder Companies.

While there is no concrete information on the negotiations, which we reiterate are still open, US investment bank and broker Jefferies has offered its estimates. These estimates cover how the deal is expected to be finalised and how the share capital of the “new” The Estée Lauder Companies might be distributed following the integration of Puig's business. In general terms, the deal would create a beauty giant with a total value of around 50 billion dollars. For the 2027 financial year, the US investment bank projects sales of around 22 billion dollars. It also forecasts an adjusted operating profit margin (EBITDA) of over 20 percent of revenue, following estimated savings of 375 million dollars in general and administrative expenses due to cost synergies between the two groups. These general indicators do not deviate significantly from those already estimated by FashionUnited.

Regarding the unresolved financial terms for Puig's integration into The Estée Lauder, a report from Jefferies on Monday, April 6, 2026, sent to clients and institutional investors, suggests a 30 percent premium on Puig's share price before the merger negotiations were announced. This report was echoed by media outlets such as Europa Press and Cinco Días. This amount would be paid to the shareholders of the Spanish fashion and beauty multinational through a mixed public tender offer. The payment would consist of 20 percent in cash and the remaining 80 percent in shares of the “new” The Estée Lauder Companies resulting from the merger. Under this scenario, the Lauder family would retain 26.7 percent of the company's capital; the Puig family 21.7 percent; current The Estée Lauder shareholders 43.6 percent; and Puig's minority shareholders the remaining 8 percent. It should be noted, however, that the investment bank does not estimate the “real weight” that the members of each family would have after the merger. Both families have always sought to maintain control over their respective groups. The Lauder family holds 84 percent of the voting rights despite owning less than 34 percent of the shares. The Puig family holds 92.96 percent of the Spanish company's voting rights, while retaining 71.7 percent of its share capital after the company's IPO.

A “dual listing” for the “new” The Estée Lauder

In addition to the distribution of board seats, the price of the deal, and the final question of the “real weight” the Puig family would have in the “new” The Estée Lauder, all sources consulted agree on another requirement. It has been stipulated that the post-merger company must have a dual listing. A “dual listing” would allow its shares to be traded simultaneously and in real time on both the New York Stock Exchange, where The Estée Lauder Companies is already listed, and the Madrid Stock Exchange, where Puig is listed.

In this regard, the financial publication Expansión reports that the Puig family is demanding that the shares of the post-integration company be listed in Madrid as well as New York. This would be under the same The Estée Lauder Companies “brand”. This demand is a clear attempt by the Puig family to maintain some effective control over the potential new group. They are trying to avoid being completely absorbed by the US group, especially since it is assumed that the “centre of power” of the resulting company will remain at The Estée Lauder's corporate headquarters in New York.

Sportswear giant Nike is facing a class action lawsuit over its alleged failure to secure consumer information amid a data breach on January 21, 2026.

The suit, filed with an Oregon federal court and reported on by WWD, was brought by complainant Maria Gomez who claimed that the company did not safeguard shopper details stored in its network, including billing addresses, phone numbers, and transaction data.

Nike is also accused of neglecting to notify shoppers to the breach in a timely manner, with those impacted said to have been informed over a month after the incident occurred on February 25.

As a result, Gomez is pursuing a nationwide class action against Nike, and is calling on other individuals affected by the breach to participate.

Lawyers for the complainant said that class action members were “wholly unaware” of the data breach until Nike’s notification was issued. The company is also alleged to have recklessly and negligently failed to take reasonable steps to protect data.

Gomez is seeking a trial by jury, declaratory and injunctive relief, and an award of punitive damages for both herself and other signatories.

In January, Nike was among an increasing number of fashion brands facing cyber attacks; its own initiated by a ransomware group World Leaks that claimed to have leaked data related to the business and its customers.

At the time, Nike said it took “consumer privacy and data security very seriously”, adding that it was “investigating a potential cyber security incident”.

FashionUnited has contacted Nike with a request to comment on the class action.

ChannelEngine, the global marketplace integration and automation platform, today announced an expansion of its partnership with Monta, a leading fulfillment provider. With this expanded partnership, brands can now combine marketplace connectivity with scalable, local fulfilment, seamlessly integrated and powered by Monta.

This development marks a significant step in ChannelEngine’s evolution, extending its offering beyond integration to support the fulfilment needs of marketplace selling. ChannelEngine connects brands and retailers to over 1300 marketplaces worldwide and this expanded partnership introduces a strong fulfillment layer, enabling brands to better serve customers across key European markets including the Netherlands, Germany, France, and the UK.

By combining marketplace connectivity with localized fulfillment infrastructure, ChannelEngine helps brands and retailers simplify cross-border operations, reduce complexity, and accelerate growth across European marketplaces.

Jorrit Steinz, CEO of ChannelEngine, commented: “Expanding into new marketplaces is one thing, executing locally is another. With fulfillment capabilities now available across Europe and the UK through our partnership with Monta, we’re enabling our customers to start faster and scale more effectively in some of the world’s most competitive ecommerce markets.”

Through this extended collaboration, ChannelEngine can offer fulfillment services directly to its customers as part of a broader, integrated solution. Instead of managing multiple partners, brands can access both marketplace connectivity and fulfillment through a single ecosystem, from product data and listings to order management, storage, picking, packing, and shipping.

Gert-Jan van den Assem, Commercial Director at Monta, adds: “We see a growing demand from brands to not only sell across borders, but also to deliver locally with speed and reliability. By strengthening our partnership with ChannelEngine, we can offer a fully integrated solution that combines marketplace reach with high-performance fulfillment. This enables brands to create better customer experiences while scaling efficiently across Europe.”

With this addition, ChannelEngine strengthens its position as a central platform for marketplace growth, helping businesses stay in control while scaling globally.

Madrid – Diplomacy has prevailed over conflict following an announcement made in the early hours of this morning, Central European Summer Time, by US president Donald J. Trump. The statement concerns the armed conflict involving the armies of the US, Israel and Iran since February 28. This crisis appears to be on track according to the American president, who announced a two-week bilateral ceasefire between the US and Iranian armies.

After causing widespread global astonishment with statements the previous day, Trump once again used his official account on Truth to provide updates on the conflict. He had previously warned that an entire civilisation would perish if Iran did not adopt less radicalised positions during a complex moment in world history. On this occasion, his statements were markedly more optimistic as he announced a two-week bilateral ceasefire with Iran. This period will be used to finalise a definitive and long-term peace agreement for the entire Middle East region.

Following conversations with prime minister Shehbaz Sharif and field marshal Asim Munir of Pakistan, Trump agreed to suspend bombings and attacks against Iran for two weeks, provided the Islamic Republic of Iran agrees to the complete and safe opening of the Strait of Hormuz. Trump specified that this will be a bilateral ceasefire, explaining that military objectives have been exceeded and negotiations for long-term peace are well advanced. Regarding these talks, he added that the US has received a 10-point proposal from Iran which constitutes a viable basis for negotiation. The US and Iran have reached an agreement on almost all previous points of contention, though a two-week period will allow the deal to be finalised. On behalf of the US, Trump stated it is an honour that this long-standing problem is close to being resolved.

Safe opening of Strait of Hormuz

In response, Seyed Abbas Araghchi, minister of foreign affairs of the Islamic Republic of Iran, issued an official statement accepting the two-week ceasefire. During this period, the peace agreement will be finalised based on the 10-point proposal and safe passage through the Strait of Hormuz will be guaranteed.

Araghchi expressed gratitude to the prime minister of Pakistan and field marshal Munir for their efforts to end the war. In response to the request from Sharif and the US request to enter negotiations based on its 15-point proposal, Araghchi declared that if attacks against Iran cease, the armed forces will suspend defensive operations. He concluded by stating that for a period of two weeks, safe passage through the Strait of Hormuz will be possible through coordination with the armed forces of Iran.

Great day for world peace

Following the official declarations, Trump again used his Truth account to celebrate the initial understanding. He described the starting point for definitive peace in the region as a great day for world peace and announced that the US will help to ease traffic congestion in the Strait of Hormuz.

Trump declared that Iran wants peace to happen and noted that the US will assist with the traffic build-up in the Strait of Hormuz. He suggested there will be positive action and that Iran can begin the process of rebuilding. The US president warned that the US will remain present to ensure everything goes well, pointing out that this could be the Golden Age of the Middle East.