Executive Report news and archive

Gucci Logistics increases stake in Colonna Group tannery to 100 percent

Kering subsidiary Gucci Logistics is increasing its stake in Colonna Group to strengthen its investment in the leather industry. Gucci Logistics, which is active in the design, development, engineering, production, purchasing, sales, import and export of Gucci branded products, already held a 51 percent stake in the tannery since 2019, but is...

Business

United Nomads Group acquires experiential brand Caravana

Resort retailer United Nomads Group (UNG) has announced its acquisition of Tulum-based, experiential fashion brand Caravana. The move hopes to help the label move into a new era, while further emphasising the group’s mission to “redefine resort retail”. Caravana joins Delos as part of UNG’s brand portfolio, through which it said it has reshaped...

Business

Nordstrom Q3 net sales increase, adjusts FY24 outlook

US department store giant Nordstrom welcomed a 4.6 percent increase in net sales for the quarter ended November 2, 2024, while comparable sales rose 4 percent compared to the same period in the year prior. The company’s banner net sales climbed 1.3 percent (4 percent on a comparable rate), while its Nordstrom Rack banner also reported an...

People

Burlington Stores names Shira Goodman to the board of directors

Burlington Stores, the American off-price retailer of high-quality, branded apparel, footwear, accessories, and homeware, named Shira Goodman to its board of directors. Goodman, the former chief executive officer of Staples, Inc., will join the board and its audit committee from January 1, 2025. Prior to Staples, Goodman worked at Bain & Company...

Business

JD Sports acquires Courir for 520 million euros

JD Sports Fashion has announced the completion of its acquisition of French sneakers player Courir. The company said in a release that the acquisition price is 520 million euros, paid through a combination of existing cash and a drawdown on the company’s revolving credit facility. In the year to December 31, 2023, Courir reported revenue of...

People

Joseph ropes in Mario Arena as creative director

British contemporary designer brand Joseph has announced the appointment of Mario Arena as creative director. His first collection for Joseph will be spring summer 2026, which will land in stores in October 2025. Commenting on his appointment at Joseph, Arena said: “Joseph Ettedgui was a visionary who pushed the boundaries in design and...

Business

Kohl’s posts sales and earnings decline

Kohl’s third quarter net sales decreased 8.8 percent to 3.5 billion dollars and comparable sales decreased 9.3 percent. Gross margin was 39.1 percent, an increase of 20 basis points, operating income dropped to 98 million dollars and net income declined to 22 million dollars or 20 cents per diluted share. The company said in a release that Kohl’...

People

Current Jil Sander CEO to join K-Way

Luca Lo Curzio, the current chief executive officer of Jil Sander, has been appointed to the helm of K-Way, a position he will take up following the closing of Permira Funds’ strategic investment in the sportswear brand, expected to be complete in Q1 2025. Lo Curzio was described by the French brand’s joint owners, BasicNet SpA and Permira, as...

Business

Secret Sales acquires H&M Group’s Afound

Off-price marketplace Secret Sales has snapped up digital fashion outlet Afound from its former parent company H&M Group. The move comes as Secret Sales looks to continue positioning itself as a “dominant force” in European off-price retail, an effort that has already been reflected in similar acquisitions over the course of the past few years....

Business

Sosandar sales drop but losses shrink as it transitions away from promotions

For the first half period, women’s fashion brand Sosandar reported revenue of 16.2 million pounds versus 22.2 million pounds in the same period of the previous year as the group continued to transition away from price promotional activity outside the major scheduled sale events. The company’s gross margin for the period was 62.2 percent versus...

People

Kohl’s names Ashley Buchanan its next CEO

US department store chain Kohl’s has outlined its chief executive officer transition plan as its current head, Tom Kingsbury, confirms his intention to step down from January 15, 2025. Kingsbury will be succeeded by Ashley Buchanan, but will stay on in an advisory role and retain his position on the board of directors through to his retirement...

People

Nike names Treasure Heinle as chief human resource officer

Nike has promoted Treasure Heinle, chief talent officer, as the company’s new executive vice president and chief human resources officer (CHRO). In her new role, the company said in a release, Heinle will be responsible for leading the global HR function and managing Nike’s People vision and strategy. She succeeds Monique Matheson who has...