Latest Articles in Business

France's anti-fast fashion law: its impact on the wider industry beyond ultra-fast fashion

The final text of law no. 2026-602, aimed at reducing the environmental impact of the textile industry, known as the “anti-fast fashion law”, was enacted on July eight, 2026, and published in the Official Journal on July nine. Beyond the penalty and advertising ban targeting ultra-fast fashion, the final text includes other provisions likely to...

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Sale of 15 percent of Armani Group could be delayed beyond March 2027 deadline

The planned sale of a 15 percent stake in the Giorgio Armani group may not be completed by the March 2027 deadline set out in founder Giorgio Armani's will. This is according to a report by Corriere della Sera today, which cited internal sources at the group. The newspaper adds that conditions in the luxury market remain difficult and that...

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Chanel, Miu Miu, Burberry: does a 'return to product' signal the end of outrageous price hikes in luxury?

After two years of a slowdown in the luxury market, Chanel has reportedly recorded a 16 percent growth in its like-for-like revenue for the first half of 2026. This result was notably driven by the first collections from Matthieu Blazy. Beyond the case of Chanel, this performance prompts the question: what if, after years of price hikes,...

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On returns to profit with sales increase

On Holding AG has finished the second quarter of the 2026 financial year with an increase in sales. The Swiss sporting goods company also returned to profit after a loss in the same period last year. The Zurich-based company achieved sales of 850.3 million Swiss francs in the three months to June 30, On announced on Tuesday. This represents a...

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MondeVita acquires majority stake in Underscore District

Following the acquisition of Raffaele Caruso spa, a Soragna-based menswear manufacturer founded in 1964, MondeVita has acquired a strategic majority stake in Underscore District. Underscore District is the Milan-based brand accelerator behind Magliano, Gr10K and the multi-brand retailer Wok Store. "The deal represents the second step in...

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El Corte Inglés's employers' association joins Federation of International Retail Associations (FIRA)

Madrid – La Distribución Anged (Anged), the Spanish business organisation representing the interests of retail companies such as El Corte Inglés, Carrefour, C&A and Pepco, has decided to raise its international influence. It has joined the Federation of International Retail Associations (FIRA) as a new full member. The federation comprises a...

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Spanish brand Altonadock enters liquidation

Madrid – It appears to be the end of the road for Altonadock's 16-year journey as a specialist menswear brand. The company has filed for voluntary administration. Furthermore, it has been requested and agreed that the process will proceed directly to the liquidation phase. The fashion brand was launched around 2010 by entrepreneur Ángel Ortega,...

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Puig shares rally following Berenberg and Jefferies valuations

Madrid – Despite the initially lacklustre results reported by Puig for the first half of its 2026 financial year, published exactly one week ago, the accounts of the owner of Carolina Herrera, Jean Paul Gaultier and Paco Rabanne appear to have been well-received by the market and analysts. This is evidenced by the latest valuations the Spanish...

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Lenzing increases half-year profit despite decline in revenue

Last week, the Austrian fibre manufacturer Lenzing AG presented further drastic reforms and announced the closure of two production sites. On Wednesday, the group presented its results for the first half of the 2026 financial year. According to the report, group revenue from January to June amounted to just under 1.27 billion euros (1.47 billion...

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El Corte Inglés reduces emissions, collects over 630 tonnes of textile waste in department stores

Madrid – Spanish department store company El Corte Inglés continued to make solid progress towards its goal of becoming a “Net Zero” company by 2050 during the 2025 financial year. This goal has been approached through a general reduction in its greenhouse gas emissions. The company also continued to enhance the role of its department stores as...

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Mud Jeans hopes for restart after bankruptcy declaration

Dutch circular denim brand Mud Jeans has been declared bankrupt. CEO Dion Vijgeboom announced this today in a statement on LinkedIn. Vijgeboom writes that the company filed for bankruptcy itself because its debt burden was too heavy. Vijgeboom has been the company's CEO since January. "Today is one of the most difficult days in the history of...

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Safilo Group: sales down 1.9 percent in H1

In the second quarter of 2026, Safilo Group recorded net sales of 239.1 million euros (275.7 million dollars), down 4.5 percent at constant exchange rates. The gross industrial margin was 73.1 percent, up 11.5 percentage points from 61.6 percent. The adjusted EBITDA margin was 20.5 percent, up 9.4 percentage points from 11.1 percent in the same...