Victoria Beckham Ltd is to cut 20 percent of its workforce and reduce the number of annual collections it produces, as it faces drastic cost cutting measures in the wake Covid-19. The company said approximately 20 staff members would be made redundant, mostly workers in the areas of production at the […]

Nike is set to close a factory in Goodyear, Arizona. The factory was originally supposed to be the main factory for the Nike Air shoe line, but coronavirus put a damper on those plans and Nike's financial situation. Nike originally acquired the factory in 2019 with plans to turn it into their Air Manufacturing […]

Former Lancôme CEO Odile Roujol has launched a 10 million dollar fund for fashion and beauty start-ups. The news was reported by WWD. Roujol, who moved to the U.S. four years ago, got the idea to launch the fund four years ago, which led to the new business, FAB Ventures. The fund focuses on direct-to-consumer […]

The Asia rebound for luxury goods demand didn’t buy LVMH, which saw a loss of 68 percent in revenue in the second quarter. It also didn’t boost Kering’s sales, which posted a loss of 43.7 percent to 2.175 billion dollars compared to the same period last year. Kering said consolidated revenue of 5.38 […]

There is no doubt that the Corona crisis has accelerated the digitalisation of work and made working conditions more flexible. Large corporations such as Bayer, Deutsche Bank, Zalando and others have already decided to considerably reduce the number of business trips, even “after Corona” (whenever that […]

Moncler, the original purveyor of the down jacket, is taking direct control of its e-commerce channels to accelerate a new era of digital transformation for the brand. The company previously outsourced its online operations to Yoox Net-a-Porter. The news will come as a blow to YNAP, which just last […]

Under Armour has received a possible enforcement action from the SEC (Securities and Exchange Commission.). The notice in question is a Wells notice inquiring about the accounting treatment of Q3 and Q4 sales from 2016. Last week, on July 22, Under Armour's former CEO and current executive chairman, […]

For the 5th year running the ‘Women Count 2020’ has revealed that gender diversity at the top levels of British business needs urgent attention, with data proving that companies in the FTSE 350 with diverse leaderships perform considerably better and have higher profit margins. According to the report, […]

Boohoo is to build its own ‘model factory’ in Leicester following controversy in recent weeks sparked by allegations of poor working conditions at some of its suppliers' factories. CEO John Lyttle told The Mail on Sunday that the company could begin producing its own clothing with a local joint-venture […]

Corneliani is receiving an investment from the Italian government. Italy's Ministry for Economic Development will be granting the luxury brand a 10 million euro loan to help Corneliani continue operations. The news reported by WWD. Like many fashion brands, Corneliani suffered economic fallout from […]

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