Latest Articles in Business

Le Coq Sportif redefines its Iberian game with a distribution partner

The French brand Le Coq Sportif has signed a strategic agreement with Albion 1879 SL to drive its growth in the Iberian Peninsula. The focus will be on Spain and Portugal, aiming to accelerate its consolidation in the premium sport lifestyle segment. The move follows the company's restructuring after its Spanish subsidiary entered insolvency...

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EU imposes 200 million euro fine on online retailer Temu

The European Commission has imposed a 200 million euro fine on the Chinese online marketplace Temu for illegal products. The Brussels authority announced that the company had failed to properly assess the risks and damages to consumers. This is a particularly serious breach of the Digital Services Act (DSA). Consumers in the EU were highly...

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Zalando expands pre-owned offering through partnership with Vestiaire Collective

Vestiaire Collective is bringing second-hand luxury fashion to Zalando. The Berlin-based online retailer and the French resale platform have entered into a partnership, the two companies announced on Thursday. A hand-checked selection of second-hand luxury items will now be available on Zalando. The collaboration will be rolled out in 14...

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Portugal's textile exports find new life outside Europe

Portuguese textile and apparel exports closed the first quarter of 2026 with moderate yet significant growth. This progress comes amid a challenging environment where a decline in several European markets was offset by growth in non-EU destinations. Between January and March, the sector's international sales reached 1.44 billion euros (1.67...

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Fashion tech platform Vaayu acquired by Carbonfact

French sustainability platform Carbonfact has acquired its German competitor Vaayu Tech GmbH. The companies made a joint announcement today. The purchase price has not yet been disclosed. The acquisition brings the two largest decarbonisation tools for the fashion industry under one roof. Existing clients will migrate to Carbonfact. The combined...

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Galería Canalejas, central Madrid's 'luxury mecca', is up for sale

Madrid – The Spanish multinational OHLA, successor to the former OHL of the Villar Mir Group, will put the exclusive Galería Canalejas shopping complex up for sale at the end of the year. This was announced by its chairman of the board of directors and main shareholder, Luis Amodio. He has ruled out the possibility of the transaction being...

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Kering holds its annual general meeting amidst a transformation phase

Luxury group Kering is holding its annual general meeting on Thursday, a few weeks after unveiling its strategic plan, as the slowing luxury market seeks to reinvent itself. Last September, the French giant's last annual general meeting saw the appointment of Luca de Meo as chief executive officer. François-Henri Pinault retained his position as...

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Despite record sales: Abercrombie & Fitch's first-quarter profit declines

US apparel group Abercrombie & Fitch Co. set a new sales record in the first quarter of the 2026/27 financial year. However, its profit declined. According to a statement released on Wednesday, sales in the 13 weeks to May 2 amounted to approximately 1.11 billion US dollars. This was a two percent increase on the same quarter last year and a new...

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Capri Holdings reduces quarterly loss despite revenue decline

US fashion group Capri Holdings Limited also suffered a decline in sales in the fourth quarter of the 2025/26 financial year. The company made significant progress in its earnings thanks to extensive reforms. Management is now also forecasting sales growth for the current year. In the final quarter of the past financial year, which ended on...

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New leadership at Damartex to address financial challenges and debt

French group Damartex, based in Roubaix, has announced a change in its leadership with the appointment of Anne-Sylvie Hubert and Filiep Blontrock. The company is also undertaking a fundamental review of its operations. Anne-Sylvie Hubert, formerly of Kiabi and KPMG and chief financial officer of the Damartex group since 2023, has been appointed...

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The Platform Group increases quarterly sales by 51 percent

The Düsseldorf-based e-commerce group The Platform Group SE & Co. KGaA has continued its growth trajectory in the first three months of the 2026 financial year. On Wednesday, the company announced significant increases in sales and operating profit, as expected. It also confirmed its annual forecasts. In the first quarter, group sales reached...

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Okaïdi (IDKIDS) announces 290 job cuts and 60 store closures in France

French children's ready-to-wear brand Okaïdi announced a reorganisation plan this Tuesday, May 26. The plan could lead to up to 290 job cuts in France and the closure of 60 stores. This marks a new stage in the restructuring undertaken by the IDKIDS group since it was placed in receivership last February. According to RTL, citing AFP, the plan...