Latest Articles in Business

Arnault family simplifies LVMH structure to consolidate control

Four years after a reorganisation, the Arnault family group aims to simplify the structure overseeing the global luxury giant LVMH. This move is intended to “ensure the long-term stability of its control” through several operations that will result in the creation of a single entity. According to a proposal presented to the board of directors of...

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Spanish brand Munich refinances over 18 million euros of debt

Madrid – Munich, the iconic Barcelona-based footwear brand owned by the Berneda family, appears to have found some initial relief from its difficult financial situation. The company has successfully reached an agreement with its financial creditors. It has reportedly agreed on a new payment schedule for a debt of just over 18 million euros...

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Only four percent of major fashion brands are making progress on living wages

Out of 110 major fashion and footwear brands, 32 percent have publicly committed to a living wage for garment workers, yet only 4 percent are making tangible progress. This is according to the seventh edition of the Fashion Checker, the monitor from labour rights organisation Clean Clothes Campaign. This slow progress poses a direct risk to the...

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Hennes & Mauritz surprises with significant profit increase in third quarter

Swedish apparel group Hennes & Mauritz AB (H&M) posted a surprisingly strong profit increase in the third quarter of its 2025/26 financial year. Sales, however, remained virtually flat compared to the same period last year. This was revealed in an interim report published on Thursday by the parent company of brands including H&M, Cos, Weekday, &...

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End of September is deadline for Farm Rio acquisition bids

Farm Rio, a key brand within the Azzas 2154 (Azzas) group, recently dissolved its merger with Soma. The brand, which is now being considered for sale, is receiving non-binding proposals until the end of September. It is worth noting that following the demerger, Farm Rio will become an independent entity, with capital from both controllers,...

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Jon Kortajarena enters beauty and launches SMTHELSE

Madrid – Following the personal growth formulas that some of the leading Spanish models of recent decades have embraced, Basque actor and model Jon Kortajarena has launched his own business venture, “SMTHELSE”. This is the name he has chosen for his own beauty line, which specialises in haircare. Opting for a well-measured advertising strategy...

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Italian cosmetics: turnover expected to reach 18.1 billion euros in 2026

With an expected turnover of 18.1 billion euros (20.7 billion dollars) in 2026 and growth over the last ten years at a rate more than six times higher than the national GDP, the cosmetics industry continues to create value, skilled employment and competitiveness for the country. These figures were presented last week at Assolombarda during the...

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On aims for further growth, sets new targets for 2029

Swiss sportswear provider On Holding AG presented its new financial targets for the period up to 2029 on Tuesday, ahead of an investor day. The company also confirmed its current annual forecasts. For the next three years, On is aiming for average annual sales growth in the high teens on a currency-neutral basis. This should bring total sales in...

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Puma is driving performance: How Another Cotton Lab plans to continue its growth

Since its launch in 2023, Another Cotton Lab has grown from a Düsseldorf-based lifestyle label into a company that achieved a double-digit million euro turnover in 2024. The next phase is set to follow, focusing on increased performance, more of its own stores and a stronger international presence. The collaboration with Puma is a gateway into a...

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Esprit Holdings receives statutory demand for almost 4 million dollars

Esprit Holdings Limited is facing a statutory demand for almost 4 million dollars. The Hong Kong-listed company announced on Thursday that it was served a so-called 'Statutory Demand' on September 16. The demand is for 3.99 million US dollars and a further 41,656 Hong Kong dollars. According to Esprit, the claim is related to an arbitration...

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LVMH-Hermès affair: Reuters revelations contradict Bernard Arnault's defence

On Thursday, Reuters published an investigation that brought new information to light in one of the luxury sector's most high-profile cases: the acquisition of Hermès shares by the LVMH group. According to the news agency, LVMH made a confidential agreement in 2002 with Éric Freymond, who was the wealth manager for Nicolas Puech, one of the...

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Swiss watch exports rise 9.1 percent in August, driven by China and Japan

Zurich - Swiss watch exports climbed 9.1 percent in August to 1.78 billion Swiss francs, driven mainly by China and Japan, which offset a sharp decline towards the US, the watchmaking federation announced on Thursday. In August, Swiss watch exports jumped by 22.1 percent to Japan and 15.8 percent to China compared to the same period a year...