Latest Articles in Management

Adidas records strong Q3 led by 14 percent growth in footwear

Adidas reported currency-neutral revenue growth of 10 percent during the third quarter. In euro terms, revenues grew 7 percent to 6.438 billion euros. For the year ahead, Adidas expects currency-neutral revenues to increase at a rate of around 10 percent, and operating profit to reach a level of around 1.2 billion euros. “The third quarter was a...

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Myer to acquire Premier’s Apparel Brands business

Australian retailer Myer is all set to acquire Premier’s Apparel Brands business in Australia and New Zealand consisting of Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E in exchange for the issue of new shares in the company. As part of the agreement, Premier will distribute its existing and new shareholding in Myer to shareholders and...

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Tapestry x Capri merger blocked: What does this mean for the ‘accessible’ fashion market?

On Thursday, October 24, a US judge opted to block Tapestry’s attempt to buy competitor Capri Holdings, with “loss of head-to-head competition” cited as the reasoning. The case, first brought forward in a lawsuit by the Federal Trade Commission (FTC), became high profile due to its involvement of notable executives and the fact that the merger...

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US court blocks Coach owner's 8.5 billion dollar buyout of Versace parent

A US judge on Thursday blocked fashion group Tapestry's 8.5 billion dollar deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. The deal, seen as an attempt to create a new global fashion giant to compete with European powerhouses, was halted by a federal court in New York after...

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Skechers reports strong growth in Q3 sales and earnings

Skechers reported third quarter sales of 2.35 billion dollars, a 15.9 percent increase over the same period last year. For the fourth quarter, the company expects to achieve sales between 2.165 and 2.215 billion dollars and diluted earnings per share of between 70 cents and 75 cents. For fiscal 2024, Skechers expects sales to be between 8.925...

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Mike Ashley calls to be appointed CEO of Boohoo, brand unveils identity refresh

Frasers Group’s Mike Ashley has requested to be appointed the chief executive officer and a director of fast fashion giant Boohoo Group where an apparent “leadership crisis” is resulting in declining revenues and a falling share price. The call was made in an open letter to Boohoo from Frasers, where it said the group is requisitioning a general...

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Luxury slowdown impacts Kering's Q3, sales fall 16 percent

Kering Group revenue in the third quarter was 3.8 billion euros, down 15 percent reported and 16 percent on a comparable basis. In the first nine months, the group generated revenue of 12.8 billion euros, down 12 percent both as reported and on a comparable basis. “With discipline and determination, we are executing a far-reaching transformation...

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Ermenegildo Zegna Group reports 8 percent decline in Q3

Ermenegildo Zegna Group reported unaudited revenues of 1,357.4 million euros for the first nine months, up 1.7 percent or down 4 percent organic. In the third quarter, revenues reached 397.3 million euros, down 7.8 percent and down 6.7 percent organic. Commenting on the results, Ermenegildo “Gildo” Zegna, chairman and CEO of the company, said: “...

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With Nothing Underneath secures 2.5 million pounds in funding

British luxury womenswear brand With Nothing Underneath (WNU) has closed its first funding round, securing 2.5 million pounds from Pembroke VCT and JamJar Investments to support its international expansion plans. The womenswear brand, founded in 2017 by Pip Durell, former Tatler editor and Vogue stylist, is inspired by men’s tailoring and offers...

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Cult Mia tops up seed funding to 5 million US dollars

UK-based luxury retail platform Cult Mia has raised an additional 2 million US dollars in its latest seed funding round with participation from H&M Group Ventures, Fuel Ventures and David Wertheimer. The investment comes less than a year after Cult Mia raised 3 million US dollars in seed funding in a round led by Fuel Ventures with Morgan...

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Brunello Cucinelli records strong revenue growth

For the first nine months, Brunello Cucinelli reported a turnover of 920 million euros, growth of 12.4 percent at current and 12.7 percent at fixed exchange rates. In the third quarter, turnover of 300 million euros increased by 9.2 percent. Commenting on the strong results, Brunello Cucinelli, the company’s executive chairman and creative...

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Autone raises 17 million US dollars in Series A funding

London-based AI-powered inventory management platform Autone, which helps retailers predict demand, reduce waste and increase sales, has raised 17 million US dollars in Series A funding. The round was led by General Catalyst, alongside all existing investors from its seed round, including Speedinvest, YCombinator, Seedcamp, 2100VC, Motier,...