- Danielle Wightman-Stone |
American luxury designer brand Ralph Lauren is to give furloughs, pay cuts and foundation donations to ensure the safety and wellbeing of its employees while it navigates the impacts of Covid-19. The company said in a statement that executives across the label would reduce their salaries and compensation […]
- DPA |
German luxury fashion brand Hugo Boss AG (HUGSF.PK) said that its Managing Board and the Supervisory Board have decided to propose to the Annual Shareholders' Meeting that the dividend payment for fiscal year 2019 will be suspended. The negative effects of the Covid-19 pandemic on macroeconomic development […]
- Huw Hughes |
Finnish fashion group Stockmann is filing for corporate restructuring after experiencing a “significant” impact from the Covid-19 pandemic. The group, which owns Swedish fashion chain Lindex, said it has made “continued strong growth” on its online stores since the beginning of March, but that has not […]
- Simone Preuss |
While the coronavirus outbreak has wreaked havoc in economies in the western world and lives certainly have been disrupted, few actually fear for their lives due to job losses. Undoubtedly, looking at the fashion industry, especially small- and medium-size labels, brands and retailers will have a hard […]
- Prachi Singh |
Kinnevik AB’s nomination committee has proposed the election of Cecilia Qvist to Kinnevik’s board of directors at the annual general meeting in May 2020 as well as the re-election of all current board members, and the re-election of the Chairman of the board, Dame Amelia Fawcett. Commenting on the proposed […]
- Prachi Singh |
Safilo Group S.p.A. has announced that the extraordinary circumstances after Covid-19 outbreak are having direct and indirect repercussions on the company’s economic activity, resulting in negative effects for the group’s sales and earnings performance which are today impossible to predict for the full […]
- Prachi Singh |
In response to the continuous spread of coronavirus, Versace owner Capri Holdings has announced that the company anticipates reducing its corporate workforce in order to generate additional payroll savings. The company said in a statement that it now anticipates that retail stores in North America and […]
- Robyn Turk |
PVH has sold the North American operations of the Speedo brand back to the label's parent company, Petland Group, for 170 million dollars in cash. Petland will now operate Speedo businesses worldwide. This sale was originally announced in January and completed this week. PVH will use the proceeds of […]
- Herve Dewintre |
All businesses are being hit hard by the pandemic, but not all businesses are responding to its consequences in the same way. Faced with collapsing sales and massive closures of outlets, large recipient companies are taking two courses of action. Those that decide to participate actively in the collective […]
- Danielle Wightman-Stone |
Primark has pledged to assist factory workers during the coronavirus crisis after establishing a fund to cover the wages component of orders that have been cancelled. The fast-fashion retailer closed its entire store estate on March 22, due to the global Covid-19 health crisis, which has resulted in […]