Executive Management news and archive

Surprising profit: Zalando is more optimistic for 2024

After a good start to the autumn and winter season of 2024, the online retailer Zalando wants to step it up a gear. In day-to-day business, the group is aiming for more profit than previously communicated. Managers are also no longer expecting the worst for other key financial indicators. Co-CEO Robert Gentz sees the company as well positioned...

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THG to spin off Ingenuity into private company, reports continued growth in Q3

THG reported third quarter revenue of 433.1 million pounds, down 0.6 percent. The company however witnessed continued growth in THG Beauty and THG Ingenuity, with improving trends in THG Nutrition during the quarter. The company said in a statement that it is demerging Ingenuity into an independent private company at an equity valuation of up to...

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Aritzia reports strong results driven by retail expansion in the US

Second quarter net revenue at Aritzia increased 15.3 percent to 615.7 million dollars, with comparable sales growth of 6.5 percent. United States net revenue increased 23.9 percent to 345.4 million dollars, retail net revenue increased 17.6 percent to 425.6 million dollars. "Our performance during the second quarter exceeded our expectations....

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Uniqlo parent Fast Retailing posts strong sales and profit growth

Fast Retailing revenue crossed 3 trillion yen, up 12.2 percent and operating profit over 500 billion yen, up 31.4 percent, while profit attributable to owners of the parent of 371.9 billion yen, increased by 25.6 percent. The company plans to offer a year-end dividend of 225 yen per share. The company said in a statement that when added to the...

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Stefano Cantino takes over as CEO of Gucci

Kering has appointed Stefano Cantino as CEO of Gucci, reporting to Francesca Bellettini, deputy CEO of Kering in charge of brand development. Stefano Cantino, who joined Gucci in May 2024 as deputy CEO, will have a seat on Kering’s executive committee succeeding Jean-François Palus as of January 1, 2025. Stefano Cantino succeeding Jean-François...

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Vestiaire Collective announces AI advancements and tech appointments

Resale fashion platform Vestiaire Collective is continuing to invest in Artificial intelligence (AI) driven technologies with a new AI-powered search engine, alongside the arrival of two tech veterans to further develop and implement its tech strategy globally. Stacia Carr joins Vestiaire Collective as the company’s new chief technology and...

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Saudi Arabia’s Public Investment Fund acquires 40 percent stake in Selfridges Group

The Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, has acquired a 40 percent stake in British luxury department store Selfridges and is forming a strategic partnership with Thailand-based conglomerate Central Group, which raised its majority stake in the retailer to 60 percent. In a statement, family-owned Central Group...

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Matalan CEO to depart after 18 months at helm

The chief executive officer of British department store chain Matalan has announced her exit from the company just 18-months into her tenure. Jo Whitfield’s departure was confirmed in a press release, in which it was stated that she had decided to step down to “pursue a portfolio career”. During her time at Matalan, Whitfield was credited with...

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Victoria Beckham CEO to exit as brand enters ‘next phase’

Marie Leblanc is stepping down from her position at the helm of Victoria Beckham as the brand begins to enter its “next phase”. She will be returning to France to be with her family, while chairman Ralph Toledano is to take on the CEO role in an interim capacity until a successor is named. Leblanc had joined Beckham’s eponymous fashion label...

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John Lewis CEO to step back into non-exec role

Nish Kankiwala, the current chief executive office of John Lewis Partnership (JLP), is set to step back into a non-executive role from March 2025 following what the company said was “significant progression of the ongoing transformation”. Kankiwala was appointed to the helm position in early 2023, and was immediately tasked with working on the...

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Mytheresa closes the deal to acquire YNAP from Richemont

Mytheresa has acquired 100 percent of the share capital of Yoox Net-A-Porter Group (YNAP). At transaction closing, Richemont will sell YNAP to Mytheresa with a cash position of 555 million euros and no financial debt. Richemont will also make available a six-year revolving credit facility of 100 million euros to finance YNAP’s general corporate...

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Levi Strauss announces strategic review of Dockers to drive growth

For the third quarter, Levi Strauss net revenues of 1.5 billion dollars were flat on a reported basis, and 2 percent higher on a constant-currency basis. Levi Strauss announced that it has initiated a formal review of strategic alternatives for the Dockers brand, which could include a potential sale or other strategic transaction. The company’s...