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Management

Uniqlo parent Fast Retailing posts strong sales and profit growth

Fast Retailing revenue crossed 3 trillion yen, up 12.2 percent and operating profit over 500 billion yen, up 31.4 percent, while profit attributable to owners of the parent of 371.9 billion yen, increased by 25.6 percent. The company plans to offer a year-end dividend of 225 yen per share. The company said in a statement that when added to the...

Management

Stefano Cantino takes over as CEO of Gucci

Kering has appointed Stefano Cantino as CEO of Gucci, reporting to Francesca Bellettini, deputy CEO of Kering in charge of brand development. Stefano Cantino, who joined Gucci in May 2024 as deputy CEO, will have a seat on Kering’s executive committee succeeding Jean-François Palus as of January 1, 2025. Stefano Cantino succeeding Jean-François...

Management

Vestiaire Collective announces AI advancements and tech appointments

Resale fashion platform Vestiaire Collective is continuing to invest in Artificial intelligence (AI) driven technologies with a new AI-powered search engine, alongside the arrival of two tech veterans to further develop and implement its tech strategy globally. Stacia Carr joins Vestiaire Collective as the company’s new chief technology and...

Management

Saudi Arabia’s Public Investment Fund acquires 40 percent stake in Selfridges Group

The Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, has acquired a 40 percent stake in British luxury department store Selfridges and is forming a strategic partnership with Thailand-based conglomerate Central Group, which raised its majority stake in the retailer to 60 percent. In a statement, family-owned Central Group...

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