Latest articles in Business

Retail insolvency holds steady, for now, warns RSM UK

Retail sector insolvencies in the UK remained broadly stable in April, according to new figures released today, but the outlook is increasingly clouded by a convergence of macroeconomic and geopolitical headwinds. The latest company insolvency statistics show a modest 3 per cent rise in retail trade insolvencies from March to April 2025,...

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LVMH feels strain of luxury slowdown as succession questions loom

Bernard Arnault, the 76-year-old titan behind LVMH, is facing one of the most serious reckonings of his tenure atop the world’s largest luxury group. Against a backdrop of falling demand in China, geopolitical trade friction in the US, and mounting internal complexity, LVMH has seen over 220 billion euros erased from its market value since its...

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Lululemon to cut 150 corporate jobs, price increases expected

Canadian athleisure brand Lululemon Athletica has said it is planning to cut around 150 corporate jobs as it looks to change its organisational structure. Employees within store support centres are to be impacted, the company confirmed to Canadian press in a statement. “As we continue to deliver on our strategy, we regularly assess our business...

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Switzerland: Watch exports fall in May after record sales in April

Following substantial deliveries to the US in April, in light of impending tariffs, Swiss watch exports declined in May. However, the ‘boomerang effect’ proved less pronounced than anticipated, according to the Federation of the Swiss Watch Industry (FH). After a significant increase of 18.2 percent in April, Swiss watch exports across all...

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British Embassy in Tokyo calls for sponsors to support fashion trade event

The British Embassy in Tokyo is calling for partners and sponsors to support an event in Japan intended to welcome UK delegates from the Fashion and Luxury sector. The “showcase and reception” are being held as part of the UK at Expo programme, which is currently being held in Osaka up until October 13. UK brands are to be showcased within the...

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Bluestar Alliance appoints new leadership at Palm Angels as expansion begins

Months after its takeover of Palm Angels, Bluestar Alliance has announced a number of leadership changes for the streetwear brand as it looks towards international growth and expanding product categories. The brand management firm, which also owns the likes of Off-White, Scotch & Soda and Hurley, has named Luca Donnini as Palm Angels’ general...

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Better Cotton to become regenerative standard

Cotton sustainability initiative Better Cotton announced at its annual conference that it would become a regenerative standard within the next twelve months. “While Better Cotton’s field level standard is already recognised to cover many of the core tenets of regenerative agriculture, this move will further ensure that farmers who meet our...

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Why Kering founder Pinault chose Luca de Meo as CEO

French luxury group Kering appointed Luca de Meo as its new chief executive officer. François-Henri Pinault stepped down after more than 20 years. Why did the Kering founder consider the Renault boss the best candidate to lead the company into a new phase of growth after the disappointing business performance of recent quarters? Long process...

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Borletti group and Quadrivio & Pambianco acquire Twinset

Borletti Group and Quadrivio & Pambianco, through the private equity vehicle Made in Italy Fund II, acquired one hundred percent of Italian fashion brand Twinset from the private equity fund Carlyle, which had controlled it since 2017. The transaction involves equal participation between the two investors, who will jointly support the company's...

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El Corte Inglés ends 2024 with its highest revenue in 14 years

Madrid – Spanish department store group El Corte Inglés (ECI) presented its financial results for the 2024/2025 financial year. This period, which ended on February 28, saw the company, chaired by Marta Álvarez, achieve its highest revenue in 14 years. According to information provided by the management of the Spanish group, ECI ended its last...

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Halara plots UK expansion and pop-up experience

Halara has its eyes on the UK. The Singapore-headquartered athleisure brand has revealed plans to expand to the region through a pop-up experience set to be hosted later this year. The physical retail space, which will open alongside the launch of an app and online platform, will incorporate the brand’s “digital-first, community-driven model”, a...

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Mango partners with Circulose to increase textile circularity

Spanish fast-fashion retailer Mango is the first brand to partner with Swedish circular material company Circulose since its restart, as the retailer aims to integrate the next-gen material into its production chain. The partnership underscores a milestone in Mango’s commitment to working more sustainably and sits in line with its long-term...