Latest articles in Business

Coach announces 20 million US dollar investment in young people

Coach Foundation, established in 2008 by American fashion and accessories brand Coach, is nearly doubling its commitment to its North American ‘Dream It Real’ programme to advance opportunities for under-resourced young people. The company, which has donated more than 70 million US dollars to hundreds of worthy causes across the globe, has...

Business

Saks Global survey shows luxury consumers feeling less optimistic

Luxury consumers in the US are feeling notably less optimistic about the economy, according to the latest Saks Global Luxury Pulse survey, and the intent to spend on luxury “has soften”. The quarterly survey, which analyses luxury consumers’ attitudes towards spending and the economy, found that luxury consumer optimism about the economy...

Business

Counterfeits, dangerous products: AliExpress threatened with EU fine

The European Commission on Wednesday took a significant step towards imposing a substantial fine on Chinese e-commerce giant AliExpress. The Commission preliminarily found that AliExpress has not adequately managed risks related to the sale of illegal products, despite numerous improvements. The Brussels-based regulator, acting as the EU’s...

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Business

Dôen secures Series A funding led by Silas Capital

California-based womenswear brand Dôen has secured investment led by growth equity firm Silas Capital to accelerate its retail expansion. The financial terms of the deal were not disclosed. Dôen, founded by Santa Barbara-born sisters Margaret and Katherine Kleveland, has become known for its feminine silhouettes, environmental commitments, and...

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Business

Naked Wardrobe is expanding to the UK with wholesale partner Flannels

Los Angeles-based fashion label Naked Wardrobe, founded in 2012 by three sisters Shirin, Shida, and Shideh Kaviani, to fill a gap in the solution-based basics market, is expanding to the UK through a wholesale partnership with luxury retailer Flannels. The move is described as a “significant milestone” in the brand's international expansion...

Business

Vietnam launches crackdown on counterfeits amid US pressure

Chanel, Louis Vuitton, Gucci… Tran Le Chi loved fashion, but the US customs crackdown wreaked havoc on her wardrobe of counterfeits ‘made in Vietnam,’ caught in Washington’s crosshairs. “Clothes help me look trendy,” explained the 53-year-old woman, who sells illegal lottery tickets in Hanoi, the Vietnamese capital. “What does it matter to me...

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Business

Intersport France targets 5.5 billion euros in revenue by 2030

French retailer Intersport reported a 6.3 percent increase in revenue for 2024, reaching 3.88 billion euro following its acquisition of struggling competitor Go Sport. The cooperative announced on Tuesday that it is targeting 5.5 billion euro in revenue by 2030. Intersport: online sales soar Growth in 2024 was driven notably by online sales,...

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Business|Background

Innovative packaging companies helping fashion kick its plastic addiction

Opportunities for sustainability exist in all parts of the fashion industry and its supply chain. Not just in the production of items or logistics, but also in order packaging. Consider, for example, reusable packaging, alternatives to bubble wrap and seaweed-based polybags. These innovations, however, are not often in the spotlight, even though...

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Business

Authentic to reintroduce Sperry in the UK and Ireland

American brand development and licensing platform Authentic Brands Group (Authentic) is partnering with Gardiner Bros, Gloucestershire-based family-run distributor of global footwear and apparel brands, to reintroduce Sperry in the UK and Ireland. In a statement, Authentic said it has appointed Gardiner Bros as the official distributor for the...

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Vince Q1 2025: Sales decline, focus on supply chain diversification

American luxury apparel retailer Vince Holding's results for the first quarter ended May 3, 2025, highlighted the company's swift actions in response to a challenging and uncertain economic landscape. For the first quarter of fiscal 2025, total company net sales decreased by 2.1 percent to 57.9 million dollars. This decline was primarily...

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Business

Activist investor ramps up pressure on Victoria’s Secret to disperse board

Barington Capital Group has called on Victoria’s Secret to make significant board changes in order to protect the lingerie brand from any hostile takeovers. This is according to sources for Reuters, which also referenced a letter from the activist investor issued to shareholders of Victoria’s Secret. In the letter, Barington, which owns over 1...

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Business

Poundland to close 68 stores as part of restructuring under new owner

Days after its takeover by Gordon Brothers, Poundland has confirmed the closure of 68 stores as part of a court-sanctioned restructuring. The company is expected to maintain between 650 and 700 stores across the UK, down from its approximately 800 existing locations. Poundland has further stated that its frozen and digital distribution centre in...