INTERVIEW New York – FashionUnited interviewed Koen Vanpraet, CEO at PXP Financial, in early March about how stores can maximise online sales to protect their business in the face of physical lockdown and other measures taken worldwide to fight the coronavirus pandemic. How are retailers managing staff […]

New York - In an article posted shared through LinkedIn, Sara Blakely, CEO and founder of Spanx, explained her decision to donate 5 million dollars “directly to female entrepreneurs to help their businesses, families and employees.” In the context of a pandemic that is rapidly taking a fatal toll on […]

French fashion house Louis Vuitton has confirmed that it is repurposing its workshops across France to produce hundreds of thousands of non-surgical protective masks to aid in the “battle against Covid-19”. The initiative will see 300 Louis Vuitton artisans from workshops in Marsaz, Saint-Donat, Saint-Pourcain, […]

H&M Hennes & Mauritz AB has signed a new 12 months 980 million euros revolving credit facility with a six months extension option in order to further strengthen its liquidity buffer and financial flexibility in response to the Covid-19 situation. The company said in a statement: “The H&M […]

ANALYSISNew York – In a recent earnings, Calvin McDonald, CEO at Lululemon, discussed the company’s fourth-quarter results, as well as the near future of the company in the light of the coronavirus pandemic. The yoga apparel brand’s leadership is confident in their results in the short and middle term. […]

Animal rights group PETA has taken advantage of the COVID-19 stock market downturn through purchasing stock in nearly two dozen fashion companies, including Ralph Lauren, Urban Outfitters and Guess. This move is a strategy the organization often takes to influence decisions made by clothing companies. […]

A new report by The Business of Fashion and McKinsey & Company has detailed the effects of COVID-19 on the global fashion industry, and the results are not pretty. The fashion industry is in crisis, and millions of jobs are at stake, along with the potential for many companies to go bankrupt. The global […]

Even off-price retail chains, which have long been a sweet spot for retail even in the midst of a recession, are feeling the impact of COVID-19. TJX, the parent company of TJ Maxx and Marshalls, will be furloughing employees and cutting executive pay by 20 to 30 percent until further notice. Beginning […]

American fashion companies PVH Corp and VF Corp have both announced their latest measures to mitigate the impact of the Covid-19 pandemic on their businesses. PVH Corp, whose portfolio includes brands Calvin Klein and Tommy Hilfiger, said that in North America, where it has the highest concentration […]

Levi Strauss & Co., for its first quarter ended February 23, 2020 reported net revenue growth of 5 percent on a reported basis, and 6 percent on a constant-currency basis excluding 11 million in unfavourable currency effects to 1,506 million dollars. The company said in a statement that net revenues […]

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