Wolverine World Wide, Inc. for its second quarter ended June 29, 2019 said reported revenue of 568.6 million dollars increased 0.3 percent as compared to the prior year and adjusting for currency, increased 1.1 percent. The company added that reported diluted earnings per share were 45 cents, compared […]

Nike has acquired Boston-based predictive analytics firm Celect in a move that aims to help the US sportswear giant better understand what its customers are really looking for. The tech-driven acquisition is the latest to fuel Nike’s Consumer Direct Offense strategy, which it revealed back in 2017. […]

The Lenzing Group increased revenue by 1.2 percent in the first half of 2019 to 1.09 billion euros (1.22 billion dollars). The company said, share of specialty fibers in revenue, at 48.4 percent, significantly exceeded the prior-year value of 44.1 percent. Net profit for the period decreased by 15.9 […]

Klarna, payment provider and bank, popular for its 'buy now, pay later’ services, has raised 460 million US dollars in an equity funding round to become Europe’s largest private fintech firm, valued at 5.5 billion US dollars. The Swedish finance company, which works with 130,000 merchants globally including […]

London-based start-up, Hero, which works with retailers to transform analogue retail space into “smart stores of the future”, has confirmed that it has secured 10 million US dollars in Series A funding to “accelerate” its reinvention of retail. Led by S28 Capital in San Francisco, with participation […]

UPDATENew York-based department store Barneys has filed for Chapter 11 bankruptcy protection after weeks of speculation. It has entered into an agreement with Gordon Brothers and Hilco Global, providing it with 75 million dollars of new capital to stay afloat during the proceedings. As part of the restructuring, […]

Barneys New York is moving forward with filing for bankruptcy protection and nearing an agreement with lenders for a financing package that would allow the company to find a buyer. The news was reported by the Wall Street Journal. The current restructuring plan calls for Barneys, whose store fleet includes […]

Fanbytes, one of the fastest-growing video influencer platforms in the UK helping brands target Gen Z on social platforms Tik Tok, Snapchat and Instagram, has received “strategic investment” from KM Capital to further support retail brands engage with Gen Z audiences. Fanbytes help brands reach young […]

For its first half period, Safilo Group S.p.A. reported net sales from the continuing operations of 495.9 million euros (551.7 million dollars), up 6.5 percent at current exchange and 3.9 percent at constant exchange rates compared to the same period of 2018 with the wholesale business showing an improvement […]

New York – Private equity investors surveyed by Deloitte forecast major players in the personal luxury goods industry – which is inclusive the luxury apparel - to achieve 1.1 times their 2018 sales index by 2021 (which means growing by 4 percent CAGR in the period comprehended between 2018 and 2021.) […]

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