Net sales at Hennes & Mauritz AB (H&M) decreased by 50 percent to 28,664 million Swedish krona (3,070.5 million dollars) in the second quarter. Also in local currencies, net sales decreased by 50 percent. Net sales in the six-month period decreased by 23 percent to 83,612 million Swedish krona […]

Richemont has announced that effective September 1, 2020, Philippe Fortunato will assume the role of CEO of Fashion & Accessories Maisons and will join the group’s senior executive committee. The company said in a statement that Fortunato will report to Jérôme Lambert, Chief Executive Officer of […]

Nike, Inc. has announced that its fourth quarter revenues decreased 38 percent to 6.3 billion dollars, down 36 percent on a currency-neutral basis, primarily due to owned and partner physical store closures across North America, EMEA and APLA due to Covid-19, partially offset by growth in Greater China. […]

Macy's is restructuring to make up for the sales impact of COVID-19. The company is eliminating approximately 3,900 corporate roles and reducing staff across stores, supply chain and customer support. At the same time, Macy's said that most of its remaining furloughed colleagues will return to work […]

Tiktok has announced the launch of Tiktok for Business, a new global brand and platform which will be home to all its current and future marketing solutions for brands. Features include ‘Top View’, which showcases brands’ ads immediately when users open TikTok, ‘Hashtag Challenge’, a format to engage […]

European brands could soon see their products increase in price as the U.S. contemplates increasing tariffs on imports from the UK, Spain, Germany and France. The move would net the U.S. 3.1 billion dollars on select imports, which would affect large luxury groups like LVMH but also smaller, independent […]

New York – Pavement owner Stepgen Meurs announced Thursday it has put the fashion brand in the hands of administrators. The goal is finding an investor that helps the fashion chain stay afloat. The company was placed into voluntary administration this week. Pitcher Partners Andrew Yeo and Gess Rambaldi […]

Hedi Slimane is to be awarded 618,000 euros in damages after a Paris court ruled Kering unlawfully used his YSL photographs without consent. The decision follows years of acrimonious legal disputes between the designer and parent company of YSL where Slimane was creative director from 2012 to 2016, […]

N Brown’s adjusted profit before tax fell 28.8 percent to 59.5 million pounds for the 12 months to 29 February in what the company described as a “critical year” for its “transition to digital”. Group revenue for the year fell 6.1 percent to 858.2 million pounds. The company, which owns Simply Be, Jacamo […]

Casual footwear brand Crocs, Inc. announced the opening of its new corporate headquarters in Broomfield, Colorado on Wednesday. The 90,000 square foot facility, located 20 miles outside of Denver, is intended to “put employees’ needs front and center”, as well as allow Crocs to expand its hiring possibilities, […]

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