Latest Articles in Business

Lenzing closes two production sites, shifts strategic focus to nonwovens

Austrian fibre producer Lenzing AG has announced additional drastic measures as part of its ongoing reform efforts. On Monday evening, the group announced that it will close two more sites. The affected factories are in Heiligenkreuz, Austria, and Grimsby in the UK. Fibre production in Heiligenkreuz is set to cease by the end of this year and in...

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Marc O'Polo expands membership program into international brand community

Marc O'Polo is transforming its customer loyalty programme, launched in 2019, into an international brand community, which will launch on August 3 in eleven European markets. The programme will offer members exclusive benefits, content and experiences, extending the brand experience beyond the point of purchase, Marc O'Polo announced on Tuesday....

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EU introduces anti-dumping duties on Chinese nylon

The European Union (EU) is imposing import duties of 60 to 67.5 percent on Chinese nylon, report Dutch media Nu.nl and De Telegraaf. The measure follows an investigation by the European Commission, which found that polyamide yarns, better known as nylon, were being offered on the European market at dumped prices. According to the European...

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Barclays and Bank of America raise Inditex's share price target

Madrid – Adding to the recent series of analyst recommendations on Inditex and its business model, British financial institution Barclays has issued a new report. The report assesses the strengths and potential of the Spanish fashion multinational. The company is expected to perform remarkably well both on and off the stock market. Consequently,...

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Salesforce invests in Callimacus, AI platform from Brunello Cucinelli's holding company

Solomei AI, the company that developed the Callimacus platform, has announced an investment agreement from Salesforce. The deal will support the expansion of Callimacus' engineering and AI research capabilities, accelerating product development and commercial growth in Europe and North America. Callimacus was developed over three years with the...

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LVMH sales approach 39 billion euros in H1 amid a tense climate

On Monday, luxury giant LVMH announced sales of 38.6 billion euros for the first half of 2026. This figure demonstrates stability and accelerated growth, despite a climate disrupted by the conflict in the Middle East. From January to the end of June 2026, the net profit of the owner of Louis Vuitton, Dior, Celine and Moët & Chandon remained...

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Mango posts H1 sales of 1.85 billion euros amidst slowed growth

Madrid – Spanish fashion multinational Mango has just reported its turnover results for the first half of 2026. During this period, from January to June, the company continued to post positive turnover growth. However, the rate was significantly lower than previously. The management of the Spanish company announced that Mango closed the first...

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Affluent consumers no longer consider fur and exotic leathers 'luxury'

A fur coat or a crocodile leather bag has long been considered the 'ultimate luxury'. New research from Collective Fashion Justice (CFJ) suggests this is no longer the case. The report, ‘Wildlife Exploitation is Not Luxurious’, reveals that a striking 95 percent of high-earners surveyed in London, Paris and New York believe the use of wild...

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Calida Group sells Cosabella to focus on core brands

Swiss company Calida Group is selling its US lingerie brand Cosabella to the New York-based Crown Brands Group. The sale was made as part of an asset purchase agreement concluded on July 23, 2026. The purchase price of the transaction was not disclosed. The Swiss lingerie company aims to simplify its brand portfolio and focus on its core brands,...

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Rains becomes main sponsor of Copenhagen football club B.93

Danish lifestyle brand Rains is set to become the main sponsor of Copenhagen football club B.93. The contract, which applies to the men's first team, will commence from the 2026/2027 season. The idea behind the partnership is rooted in Rains' origins as a rainwear specialist. The club is based in Østerbro, where it rains approximately 170 days a...

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US imposes new tariffs on 60 economies over forced labour concerns

Madrid – US president, Donald J. Trump, has once again disrupted trade relations with key partners and major global economies by announcing new additional tariffs for 60 economies. These new tariffs range from 10 to 12.5 percent. Special tariff quotas have also been added for textiles from Bangladesh, Cambodia, Indonesia and Malaysia, which are...

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New Inditex board member buys half a million euros worth of company shares

Madrid – Among the latest news surrounding the Spanish fashion giant, Inditex's management has reported the acquisition of a significant volume of company shares by José Ignacio Goirigolzarri. He is the former chief executive officer of BBVA and former executive chairman of Bankia and CaixaBank. The company welcomed him as a new member of its...