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One of Boohoo's top investors halves its stake

Boohoo’s share price has fallen over 75 percent in the past year. In a latest blow, one of its biggest shareholders reduced its stake by 50 percent. T. Rowe Price International, an investment management company, took a 10 per cent stake in Boohoo last September. In less than one year the company offloaded its stake to just under 5 percent. T....

14 hours ago

BusinessFeatured

Holzweiler secures significant investment from Sequoia Capital China

Contemporary Norwegian fashion and lifestyle brand Holzweiler has secured backing from venture firm Sequoia Capital China, supported by Carnegie Investment Banking, to help accelerate its global ambitions. The family-run label, founded in 2012 by siblings Andreas and Susanne Holzweiler, said that the strategic partnership with Sequoia Capital...

14 hours ago

Business

Next to face HMRC investigation following payroll issues

Next is set to face an investigation by the UK’s tax authority after the introduction of a new payroll system saw thousands of its employees receive incorrect salary payments. HM Revenue & Customs (HMRC) will be looking into whether Next had paid some of its staff less than the UK’s minimum wage, according to The Sunday Times, which had...

15 hours ago

Business

Richemont requests shareholders to vote against activist investor board candidate

Luxury group Richemont has requested for its shareholders to vote against a candidate backed by its activist investor Bluebell Capital Partners. The request comes ahead of the group’s annual general meeting, set to be held on September 7. Bluebell said it is hoping to gain a board seat for Francesco Trapani, the former head of Bulgari and the...

16 hours ago

Business |Background Featured

Gore-Tex: The new membrane and what Greenpeace has to do with it

When the first products with the new, more sustainable ePE membrane from Gore-Tex hit the market in autumn, the world leader for waterproof functional fabrics and with it the entire outdoor industry would have made a real U-turn. Or wouldn’t it? PTFE is Gore-Tex’s main module To understand that the development of this new, more sustainable ePE...

16 hours ago

Business

Ulta Beauty set to invest 20 million dollars in tech start-ups through new investment fund

Beauty retailer Ulta Beauty has announced the launch of its digital innovation fund Prisma Ventures, through which it is planning to invest 20 million dollars into emerging technology start-ups that focus on developing online and in-store experiences. The fund aims to help accelerate those selected via long-term, strategic partnerships and...

17 hours ago

Business

Loro Piana strengthens partnership with Juventus

Loro Piana has announced it will be continuing its partnership with Juventus Football Club for the upcoming 2022 to 2023 football season. The fashion house will be designing the official uniforms for the women’s team for the first time, as well as debuting formal suits for the men’s team. During the Union of European Football Associations (UEFA)...

18 hours ago

BusinessFeatured

Next in talks to snap up stake in Joules

British lifestyle group Joules has confirmed it is in talks with Next about a potential equity investment. It follows a report on Saturday by Sky News that said high street giant Next was in detailed negotiations about buying a 25 percent stake in Joules. Joules said in a statement Sunday: “Joules confirms that it is in discussions with Next Plc...

18 hours ago

Business

Former Tesco exec joins Burberry board

Burberry has announced that Alan Stewart has been appointed to its board as a non-executive director and member of the Audit and Nomination committee, effective from September 1. It comes as Matthew Key is set to retire from his position on the board as a non-exec director after nine years with the company. Stewart will be succeeding Key the...

5 Aug 2022

BusinessFeatured

Will a new open-source marketplace revolutionise direct to consumer platforms?

Shopify’s sacking of 10,000 employees last week, the equivalent of 10 percent of its workforce, has left questions, if not holes, in the future of DTC platforms, where soaring costs, supply chain bottlenecks and a slowdown in consumer spending is hampering sales. For many small fashion businesses, advertising on Instagram and Facebook is no...

5 Aug 2022

BusinessFeatured

Yeezy Gap engineered by Balenciaga arrives in physical stores

The collaboration between Kanye West and Balenciaga arrives in stores at the Gap as the American brand changes direction. Will the Kanye West effect save Gap? In any case, the American brand has found a jump start. In one year, thanks to a partnership with the superstar, Gap regains some of its luster lost since the late 90s, revolutionizing its...

5 Aug 2022

Business

Balenciaga strikes deal with Reliance Brands to bring brand to India

Luxury brand Balenciaga has signed a strategic deal with Reliance Brands Limited (RBL), which will see the couture label enter the Indian market. The long-term franchise agreement will make RBL Balenciaga’s exclusive partner in the region and marks the branding agency’s second deal with a Kering-owned label. It previously struck a similar...

5 Aug 2022