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Moose Knuckles secures minority investment from Bosideng for strategic growth

Canadian luxury outerwear brand Moose Knuckles has entered into a strategic partnership with Chinese down apparel giant Bosideng. The exact terms of the deal were not disclosed. Moose Knuckles aims to leverage the financial backing and strategic support provided by Bosideng and its majority investor group led by international private equity firm...

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Mountain Warehouse secures $10 million rescue deal for Eastern Mountain Sports

Outdoor apparel retailer Mountain Warehouse has secured a deal to acquire the main assets of bankrupt Eastern Mountain Sports (EMS). The UK retailer has agreed to pay 5 million USD for the New England retailer EMS brand, website, and seven profitable stores. In addition, Mountain Warehouse is set to pay another 5 million USD more for other...

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Nike to launch new 100 USD and under line to get sales back on track

Sportswear giant, Nike is set to introduce a new line of sneakers that will retail for 100 USD or less as part of the company’s wider aim to refine its product offering and bolster flagging sales. In recent years, Nike has notably increased the list price of some of its more premium sneakers, like the Air Jordan 1 sneakers, which retail for up...

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G-III Apparel forms strategic partnership with AWWG as it eyes up international expansion

G-III Apparel Group, Ltd. (GIII), the parent company of DKNY, Karl Lagerfeld, Donna Karan, and Sonia Rykiel, has signed a strategic partnership with Spanish fashion group All We Wear Group (AWWG) to accelerate the international expansion of its fashion brands. Under the agreement, G-III acquired an approximately 12 percent stake in the...

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Thai fashion group acquires German landmark store KaDeWe

Berlin's renowned KaDeWe department store has changed hands, with Thai conglomerate Central Group, also the owner of Selfridges, taking over ownership from the insolvent Austrian company Signa. Central Group, which has been actively acquiring European luxury stores, including Italy's Rinascente, Ireland's Brown Thomas, and Denmark's Illum,...

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Goldman Sachs appoints Global Luxury and Beauty Division head amidst sector's growth potential

Investment bank Goldman Sachs has appointed Cosmo Roe to head up its global luxury and beauty division. The appointment showcases the firm's recognition of the sector's potential for growth. With a history of involvement in major deals such as the sale of Tom Ford to Estée Lauder, Roe, who previously was a partner in the company’s consumer...

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Investors brace for luxury slowdown in Q1

Investors are bracing for a notable downturn in luxury sales as companies prepare to release their first-quarter results, reflecting weakened demand from China, reported Reuters. Kering's unexpected forecast of a 10 percent decline in first-quarter sales, contrasting with the 3 percent anticipated by analysts, has already cast a shadow over the...

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Decathlon posts revenue growth

In 2023, Decathlon’s revenue increased by 4.4 percent at a constant exchange rate. Adjusted for unfavourable exchange rates and the impact of the closure of the company’s commercial activities in Russia, revenue rose by 1.15 percent to 15.6 billion euros. Digital sales accounted for 17.4 percent of the group’s revenue, up 0.7 point versus 2022....

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Zalando announces strategy to return to growth

In 2023, Zalando’s GMV decreased 1.1 percent to 14.6 billion euros and revenue declined 1.9 percent to 10.1 billion euros. Full-year adjusted EBIT rose to 350 million euros, resulting in an adjusted EBIT margin of 3.5 percent, up 1.7 percentage points from 2022. The company has announced a strategy to build a pan-European fashion and lifestyle...

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Tod’s posts 11.9 percent revenue increase in 2023

In fiscal year 2023, Tod’s Group consolidated sales were 1,126.7 million euros, up 11.9 percent against FY 2022. These figures imply a growth of 7.5 percent in the fourth quarter, at constant rates, driven by 11.9 percent growth in the retail channel. Commenting on the results, Diego Della Valle, chairman and CEO of the Group, said: “In FY2023...

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Allbirds Q4 loss widens, names Joe Vernachio as CEO

Allbirds fourth quarter net revenue decreased 14.5 percent to 72 million dollars, while net loss widened to 56.8 million dollars or 37 cents per basic and diluted share. Full year net revenue decreased 14.7 percent to 254.1 million dollars versus a year ago and net reached 152.5 million dollars or 1.01 dollars per basic and diluted share. The...

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Golden Goose posts surge in annual revenue and profit

Golden Goose Group net revenues of 587 million euros for FY23, grew 18 percent at constant exchange versus FY22. Adjusted EBITDA of 200 million euros, increased 19 percent and adjusted EBIT of 149 million euros, rose 22 percent. Commenting on the annual trading, Silvio Campara, chief executive officer, Golden Goose Group, said in a statement: “...