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Former LVMH executive launches Ireland’s first luxury group

Ashley McDonnell, an Irish-American executive with experience across LVMH, Google and Puig, has launched Ireland’s first luxury conglomerate, VYKO Group, designed to acquire and scale emerging luxury brands. In a statement, McDonnell, who has more than a decade of global leadership within the luxury and technology sectors, with senior roles at...

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Business|Interview

The Do’s and Don’ts of using AI in fashion marketing: Between efficiency and strategy

Buenos Aires – Julián Restrepo, a specialist in storytelling, strategy, and artificial intelligence applied to communication, has built his career around a central idea: connecting creativity, technology, and business to help brands communicate more effectively. His approach is clear: technology alone does not create value unless it is...

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Business

Epoch Biodesign to open world's largest nylon 6,6 biorecycling facility in London

UK biotechnology company Epoch Biodesign is set to open Europe’s first and the world’s biggest nylon 6,6 biorecycling demonstration facility. The global leader in enzymatic recycling, the plant will open at Grapht Works, Imperial College in North Acton, London, the city’s new pilot manufacturing facility. The announcement comes a month after...

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Business

StockX launches ‘Store at StockX’ to streamline resale process

StockX has introduced a new feature, “Store at StockX,” allowing customers to buy and sell products without ever taking physical possession of them. Currently available to select users in the US, the feature enables shoppers to purchase items that are sent directly to StockX verification centres. Once authenticated, ownership is transferred to...

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Business

Nike to cut 1,400 roles as ‘Win Now’ strategy enters next phase

Sportswear giant Nike has confirmed another series of layoffs as it continues to move forward with its ongoing ‘Win Now’ turnaround strategy. The company confirmed to FootwearNews (FN) that approximately 1,400 operations roles have been cut across North America, Europe and Asia, representing less than 2 percent of Nike’s global team. The...

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Business

Sainsbury’s Tu reports strong FY25 growth yet mulls redundancies

Supermarket giant Sainsbury’s reported a 4.9 percent increase in overall FY25 sales in a preliminary report published this week, with market outperformance particularly seen within its Tu Clothing line. Despite recording “strong” growth, however, the retailer is eyeing operational changes among the brand’s team, with redundancies believed to be...

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Business

Les Deux: 14 years of uninterrupted growth despite a strained wholesale market

Danish brand Les Deux has confirmed its resilience and agility. In 2025, the Copenhagen-based label recorded a 13 percent increase in turnover, marking its fourteenth consecutive year of growth amid a challenging global wholesale market. While the fashion sector is experiencing a significant slowdown, Les Deux is demonstrating robust health. For...

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Business

Meta plans 10 percent layoffs as AI spending soars: source

Meta plans to cut a tenth of its workforce, looking for productivity gains from its remaining workers as it invests heavily in artificial intelligence. Meta will lay off about 8,000 employees and leave thousands of other positions unfilled next month, a source told AFP. The move comes as co-founder and chief executive Mark Zuckerberg makes a...

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Business

The Platform Group reports strong growth in annual sales and earnings

Düsseldorf-based e-commerce group The Platform Group SE & Co. KGaA experienced strong growth in the 2025 financial year. On Wednesday, the company announced that sales last year reached 728.1 million euros, an increase of 38.8 percent compared to 2024. Gross merchandise volume (GMV) increased by 44.3 percent to approximately 1.30 billion euros....

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Hapag-Lloyd sees no current option for Hormuz passage

Germany's largest container shipping line, Hapag-Lloyd, currently sees no option to guide its commercial vessels through the Strait of Hormuz, where they are currently stuck in the Persian Gulf. There is currently no possibility of passage and the company is awaiting an opportunity, said chief executive officer Rolf Habben Jansen. He did not...

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Business|Opinion

Remembering Rana Plaza: Bangladesh has changed, the narrative has not

Today, the fashion industry remembers Rana Plaza. It should. On 24 April 2013, 1,134 people were killed in the deadliest disaster the garment industry has ever seen. Rana Plaza was not simply a building collapse. It was a moral collapse across global supply chains, exposing what happens when speed, low cost and distance from risk are allowed to...

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‘Loi Violland’, France's anti-fast fashion law: Brussels hits the brakes again

France's ambitious ‘anti-fast-fashion law’ (Loi Violland) is in limbo. Although the French Senate approved the law in 2025, the European Commission (EC), which had already raised objections last September, vetoed it again in April. Brussels argues that the law disrupts the principles of the European single market and is discriminatory, as stated...