Latest articles in Business

Marks & Spencer pauses online orders following cyber attack

British department store giant Marks & Spencer has said it has paused orders on its e-commerce site and app following a cyber attack earlier in the week. In a statement on Instagram, the retailer said the decision was made as part of its “proactive management of a cyber incident”, with a team “working extremely hard to restart online and app...

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Carter's Q1 sales and earnings decline

Carter's, a prominent children's wear retailer, disclosed its financial performance for the first quarter of fiscal year 2025, revealing a reduction in key financial indicators compared to the corresponding period last year, indicating a difficult start to the fiscal year for the company. The company's consolidated net sales for the first...

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TikTok exploits trade war to shift fake luxury goods

TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. But while these "revelations" are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content...

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Iconix to roll out brands in GCC region via BFL Group deal

London-based Iconix International has announced a new direct-to-retail (DTR) agreement with off-price retailer Brands for Less (BFL) Group to roll out a number of labels in its portfolio to the Gulf Cooperation Council (GCC) region. The deal, which also extends into Lebanon and Malta, includes the brands Rocawear, Ocean Pacific, London Fog,...

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Is Authentic mulling a Guess takeover bid?

Media speculation over Authentic Brands Group potentially launching a bid for Guess Inc. began circulating yesterday, helping to boost shares for the US clothing brand and sparking a possible bidding war. Following Bloomberg’s report on the potential of a rival bid by Authentic, Guess shares were up 17 percent in afternoon trading on Thursday,...

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The Original Factory Shop launches CVA, thousands of jobs at risk

Discount retailer The Original Factory Shop (TFOS) has officially proposed a company voluntary arrangement (CVA), potentially putting nearly 1,000 jobs at risk. According to Sky News, the firm’s parent company Modella Capital, which acquired the company in February, launched the process on April 24 and, with it, has drawn up a plan to negotiate...

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Trump's tariffs: Unexpected boom for second-hand clothing market

Around a month ago, Donald Trump turned his favourite word ‘tariffs’ into a much-feared reality. The result? Panic in the fashion world, stock market prices that are trembling, and brands that are frantically calculating price increases in Excel spreadsheets. Because one thing is certain: ‘new’ will soon be a lot more expensive. But while brands...

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Topshop confirms return to high street via wholesale partners

The relaunch of Topshop and Topman (TSTM) is continuing to unravel. This time, it appears the brands’ current part owner, Asos, has confirmed a possible return to the high street. Yet, while many fans of the brands were hoping for a standalone store, it seems that a different approach is being taken first. In the e-tailer’s latest financial...

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Coty to cut 700 jobs as part of business overhaul

Beauty giant Coty has confirmed that the next phase of its ongoing transformation programme will impact approximately 700 positions as it looks to continue simplifying its fixed cost structure. The exact roles affected were not disclosed in the press release. The initiative builds on the company’s long-running ‘All-in to Win’ programme, first...

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Xcel Brands secures investment via new partnership with United Trademark Group

Xcel Brands, a US media and consumer product company, has linked up with United Trademark Group (UTG), confirming that the Shanghai-based supply chain and distribution firm is to serve as its new strategic partner. As part of the deal, UTG has injected a nine million dollar strategic investment into the New York headquartered business. In a...

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What second-hand fashion offers luxury brands, and vice versa

On April 14, resale platform Vestiaire Collective unveiled its barometer of the most popular fashion brands on the second-hand market. In the luxury bags category, Chanel topped the ranking with the highest number of product views per user, followed by Louis Vuitton and Hermès. But what do luxury houses really gain from shining in the resale...

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Skechers Q1 sales up, withdraws guidance due to economic uncertainty

Sportswear company Skechers announced its first quarter 2025 financial results, reporting sales of 2.41 billion dollars, a 7.1 percent increase driven by a 7.2 percent increase internationally and a 6.9 percent increase domestically. However, due to macroeconomic uncertainty, Skechers is withdrawing its annual 2025 financial guidance. CEO Robert...