The supervisory board of Hugo Boss Ag has appointed Oliver Timm as Chief Sales Officer (CSO) with effect from January 1, 2021. In this position, the company said in a statement, he will assume global responsibility for the group’s own retail operations as well as wholesale and e-commerce businesses. […]

Esprit has announced that it has received a green light from the Düsseldorf District Court for the restructuring process. The company said in a statement that the key elements of the restructuring plan include headcount reductions of approximately 1,200 employees or 20 percent of the workforce, in the […]

Capri Holdings Limited has said that its fourth quarter revenue declined 11.3 percent to 1,192 million dollars, while full year revenues increased by 6 percent to 5,551 million dollars. The company’s fourth quarter net loss was 551 million dollars or 3.69 dollars per diluted share compared to net income […]

Capri Holdings reported its net loss for Q4 decreased on Wednesday. Compared with the same period last year, revenues also decreased by 11.3 percent. For Q4, the company's net profit was -552 million dollars, dropped from 19 million dollars last year. Furthermore, revenues dropped to 1,192 million dollars. […]

British menswear retailer TM Lewin is to permanently close all 66 of its stores after falling into administration, resulting in 600 job losses. The company’s assets have reportedly been bought back by its owner Torque Brands through a pre-pack deal which doesn’t include its store estate, The Telegraph […]

Over two-thirds of businesses have seen a decrease in revenue since the start of the pandemic, according to a survey conducted by the Dublin-based Digital Marketing Institute (DMI). It comes as no surprise as brands and retailers, especially smaller businesses, have decreased their overall marketing […]

Arcadia is cutting around 500 jobs from its 2,500-strong head office workforce to help it mitigate the impact of Covid-19. An Arcadia spokesperson said in a statement: “Due to the impact of Covid-19 on our business including the closure for over three months of all our stores and head offices, we have […]

By 2022, Hugo Boss aims to generate online sales of more than 400 million euros compared to 151 million euros in 2019 and to achieve this target, the company plans to expand Hugoboss.com to 24 new markets in fiscal year 2020. The company said that the plan also includes the rollout of Hugoboss.com to […]

Ted Baker has announced it has completed the sale and leaseback of its London HQ, known as The Ugly Brown Building. The British luxury label sold the building to a wholly-owned subsidiary of British Airways Pension Trustees Limited for a cash consideration of 78.75 million pounds. The net proceeds of […]

INTERVIEW For years, fashion companies insisted that suppliers comply with social standards, only to leave factories and their workers to their fate by cancelling orders during the coronavirus pandemic. More than a thousand clothing makers in Bangladesh are currently struggling through this bitter reality […]

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