Articles by Huw Hughes
Zegna Group Q3 revenue up 20.8 percent, US market shines
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Thom Browne parent Zegna Group has reported a 20.8 percent increase in revenue in the third quarter as it saw double-digit growth across key markets, including a particularly strong performance in the US. The group generated Q3 revenue of 431.1 million euros, up from 356.9 million euros a year earlier. Breaking it down by segment, revenue at...
Puma Q3 constant-currency sales up 6 percent, reaffirms FY outlook
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Puma has said it is “well on track” to achieve its full-year guidance as sales increased in the third quarter, but its profit narrowed. The German sportswear giant generated revenue of 2.3 billion euros in Q3, an increase of 6 percent on a constant-currency basis, driven by its biggest market, EMEA, where sales rose 9.9 percent to 1 billion...
Modo Group acquires eyewear brand Italia Independent
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Modo Group has acquired eyewear label Italia Independent for an undisclosed sum. The group, which produces and distributes the Modo and Eco brands, and which has been in the independent eyewear industry since 1990, said its know-how will be a “key factor” in the new direction of the Italian brand, which was founded by Lapo Elkann. “I have always...
Harrods continues pandemic recovery as sales, profits jump
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Harrods has reported a jump in profit and turnover in its most recent annual trading update as shoppers continue to flock back to physical stores following the end of lockdowns. The British department store chain posted a 42.9 percent increase in turnover to 831.6 million pounds in the 12 months to January 28, according to accounts filed at...
Jonathan Anderson: Young designers are driving sustainable fashion
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Young generations are pushing the pace when it comes to sustainability in luxury fashion, said Jonathan Anderson, the founder and creative director of LVMH-owned luxury label JW Anderson. Speaking on Tuesday at the Global Fashion Summit in Copenhagen, Anderson said it is “exciting” to work with young designers who are focusing heavily on...
Fashion retailer Scotch & Soda secures rescue deal
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Fashion retailer Scotch & Soda has been rescued by American brand management company Bluestar Alliance after filing for bankruptcy for its Dutch operations last week. Confirming media reports, Scotch & Soda co-trustee Erik Schuurs said the deal was “good news for quite a large group of employees at Scotch & Soda, even if, unfortunately, not all...
Scotch & Soda files for bankruptcy for Dutch operations amid 'severe cash flow issues'
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Fashion retailer Scotch & Soda has filed for bankruptcy for its Dutch operations following “a chain of events that accelerated severe cash flow issues”. The company said in a LinkedIn post that the pandemic combined with high inflation forced it to declare bankruptcy in the Netherlands despite reporting record sales of 342.5 million euros in...
Adidas announces management changes, extends contract of CFO
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Sportswear giant Adidas has announced changes to its top team the same day it revealed it swung to a loss in the fourth quarter of the year. The German company said Wednesday that the contract of Harm Ohlmeyer, who has been finance chief since 2017, will be extended for three years, meaning he’ll remain in the post until the beginning of 2028....
Perfect Corp FY revenue up, but losses widen
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Perfect Corp, a company that provides augmented reality (AR) and artificial intelligence (AI) Software-as-a-Service (SaaS) for global beauty and fashion businesses, has reported an increase in revenue but widening losses in its most recent full-year report. In the 12 months to December 31, the company’s revenue increased 16 percent to 47.3...
Mytheresa Q2 GMV grows 7.8 percent
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German luxury retailer Mytheresa has reported a 7.8 percent increase in gross merchandise value (GMV) in the first quarter of the year. In the three months to December 31, GMV came in at 215.9 million euros, up from 200.2 million euros a year earlier. That came as net sales rose 1.3 percent to 190.1 million euros. However, the Munich-based...