Latest articles in Business

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...

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Communicating about ‘sustainable fashion’ is greenwashing, new chatbot Josie proposes alternative

Antwerp – Sustainability expert Jasmien Wynants and solicitor Judith Bussé have joined forces to combat greenwashing. They are doing so with ‘Josie’, a chatbot that extracts vague or misleading information from your Instagram posts. According to the European Commission, half of what companies write online about sustainability is incorrect. ‘...

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A lingerie brand ‘made in America’ threatened by Trump's tariffs

Los Angeles - After years spent in underground workshops in California, Francisco Tzul managed to get a job with an ethical lingerie brand 'Made in America'. But the garment worker now fears losing his job because of Donald Trump's tariffs. Since his return to power, the new American president has launched a protectionist offensive and triggered...

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Ermenegildo Zegna Group starts new fiscal year with decline in revenue

Italian fashion group Ermenegildo Zegna NV experienced a slight decline in revenue in the first quarter of fiscal year 2025. This was primarily due to continued weak demand in China and losses at the Thom Browne brand. According to preliminary figures released by the company on Thursday, consolidated revenue for the period from January to March...

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THG rejects unsolicited bid for Myprotein

Beauty and tech conglomerate THG has said it has rejected a wholly unsolicited and “largely unfunded” acquisition proposal for Myprotein, a bodybuilding supplement brand. The offer, which was put forth by acquisition group Selkirk, amounted to between 400 and 600 million pounds and was to be paid via a combination of newly issued Selkirk shares,...

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Lacoste eyes controlling stake in joint venture with Pentland

Lacoste is understood to be circling the acquisition of a controlling stake in its joint venture company set up with Pentland Group. If the deal proceeds, Lacoste intends to buy Pentland’s 50 percent stake in Pentland Chaussures Ltd, for which the group currently serves as a Lacoste licensee. According to FashionNetwork, which initially reported...