REPORTL Brands net sales increased 5 percent to 1.027 billion dollars for the five weeks ended April 2, 2016, compared to 981.2 million dollars for the five weeks ended April 4, 2015. The company also announced restructuring plans, which includes laying off of 200 associates in Columbus and New York. […]

British fashion e-tailer Asos has announced plans to discontinue its local operations in China on Thursday morning. The decision will see approximately 60 postions at Asos office in Shanghai and fulfilment centre be axed, with the remaining 20 memebers of staff being moved elsewhere. However, Asos will […]

London - The 285 billion dollar luxury goods industry is to see a slowdown this year, according to market consultants Bain & Co. In its latest forecasts for the luxury market, sales are expected to slow to just 1 percent this year at exchange rates, compared to a growth of 1.5 percent in 2015. Figures […]

Los Angeles - Pacific Sunwear of California Inc., also known as PacSun, is headed for a new turn in their business. Up until now, the trendy, youthful retailer has maintained its company with over 600 operating retail stores. However, it has been announced that the SoCal-based company could file for […]

London - Even colossal fast fashion companies the size of H&M are not immune to global events. Warm weather, a strong dollar, high markdowns, extended clearance sale times, all which led to a Ioss of profit for the Swedish high street giant. Q1 saw a hefty 30 percent fall in net profit, owing to ‚Äúsubstantially […]

Both U.S. and Hong Kong authorities were recently caught in an intricate fraud plan involving Chinese-made apparel. The scheme involves smuggling the apparel for over fifteen years, which results in a total of 20.5 million dollars in forfeited assets. The smuggling started in 2000, where Chinese-made […]

In order to boost its growing textile sector, Pakistan's commerce ministry has promised to do away with value added tax (VAT) for textiles and make it zero from July 1 2016. Federal commerce minister Khurram Dastgir Khan made the announcement at the 15th Textile Asia 2016 exhibition, an international […]

UPDATE London - SMCP, the fashion group consisting of French fashion labels Sandro, Maje and Claudie Pierlot is inching closer to a potential sale to Chinese textile manufacturer Shandong Ruyi, in a deal which is said to value the group at 1.3 billion euros (1.45 billions US dollars), including debt. […]

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