Latest articles in Business

Fashion industry faces turmoil as U.S. tariffs bite

The “Liberation Day” tariffs announced by the U.S. administration on Wednesday has sent shockwaves through global industries and financial markets. It precipitated steep stock market declines and raising fears of an escalating international trade war. The U.S. dollar has similarly taken a hit, falling 1.6 percent amid heightened uncertainty....

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New Look secures 30 million pounds to fund digital growth plan

High street fashion retailer New Look, one of the UK’s leading womenswear brands in the 18-44 sector, has secured a 30-million-pound investment from its shareholders to accelerate its digital transformation and optimise its online experience for customers. The retailer said the significant investment would “supercharge” its digital growth as it...

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Dsquared2 alleges ‘contractual breaches’ by former licensee Staff International

Days after Dsquared2 terminated its contract with Staff International, the Italian label has now claimed that its former licensing partner had made “several serious contractual breaches” to ultimately prompt the “carefully considered decision”. While the exact breaches in question were not disclosed in a press release issued by the brand,...

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URW combines Northern European business, new COO to lead from London

Unibail-Rodamco-Westfield (URW), the parent company of shopping centre chain Westfield, has announced the combination of its Northern European business, which will be led by its new London-based chief operating officer, Vincent Jean-Pierre. The new format will see the company’s UK, Dutch, Danish and Swedish operations combine under one umbrella....

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Traceability platform Fairly Made secures 15 million euros in funding

Fairly Made, a French tech firm helping brands to trace their supply chain, has announced the closing of a 15 million euro investment round, which it will use to “accelerate its transformation into a purely technological company”. The funding was led by BNP Paribas Solar Impulse Venture Fund, GET Fund, ETF Partners and Frenchfounders. In a...

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Next, Marks & Spencer and JD Sports urged to address low wages by NGO

ShareAction, a responsible investment NGO, is co-ordinating with three investor groups to file resolutions at Next, Marks & Spencer and JD Sports. The retail giants are being called on to address allegations of low wages within their staff and to be more transparent in sharing how many of their employees are being paid below a real Living Wage....

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Trump blows up fashion supply chains, with Turkey, Morocco and Egypt emerging as new ‘hubs’

Madrid – “Liberation Day” arrived, as the president of the US, Donald J. Trump, liked to call it. The trade war that the leader of the US promised to "correct" via tariffs, for what he considered to be abusive and non-reciprocal trade relations and have ultimately affected the economic and industrial performance of the US, has finally broken...

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Kering Eyewear acquires Visard and joins Mistral

French luxury goods group Kering SA is investing in its eyewear division. On Thursday, the group announced corresponding agreements with two Italian eyewear manufacturers. According to the agreement, the subsidiary Kering Eyewear will acquire all shares in Visard Srl and a minority stake in Mistral Srl, founded as a spin-off from Visard in 1991....

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Boux Avenue manages to reduce EBITDA loss amidst economic challenges

Boux Avenue, a UK lingerie retailer, demonstrated resilience in the face of economic headwinds and the Red Sea crisis, achieving a significant improvement in EBITDA, which increased by over 2 million pounds to a loss of 5.8 million pounds for the year ending March 30, 2024. This marks a substantial improvement compared to the previous year's...

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From track to runway: Why running now drives fashion

For a long time, jogging was just a sporting hobby, but today it has become much more than that. "Running" is a lifestyle statement that's crossed the finish line into the fashion world. From luxury running shoes to athleisure-ready running jackets, the lines between function and trend are increasingly blurred. At a run in Amsterdam's Nelson...

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Stocks tank, havens rally as Trump tariffs fan trade war

Equity markets tumbled Thursday after Donald Trump delivered a "haymaker" blow with sweeping tariffs against US partners and rivals, fanning a global trade war that many fear will spark recessions and ramp up inflation. Tokyo's Nikkei led Asia's selloff, briefly collapsing more than four percent, while US futures plunged with oil prices, safe...

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Tendam enters Turkey with Women’secret

Madrid – Women’secret, the lingerie brand from the Tendam Group, has entered a new market with the opening of its first store in Turkey. The chain has just launched with the opening of its first establishment in Istanbul, the country’s capital. With a retail space of approximately 100 square metres, which the chain will use to sell its latest...