Latest Articles in Management

Veesual raises 7.5 million US dollars and announces US expansion

Veesual, the Paris-based AI-powered virtual try-on platform for the fashion industry, has closed a 7.5 million US dollar seed round led by AVP (AXA Venture Partners) and Techstars. The investment will accelerate the company's plan to expand into the US market by opening its first US-based office in New York in 2025, recruiting senior US talent,...

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Brunello Cucinelli confirms FY24 forecast on strong Q1

First quarter sales at Brunello Cucinelli were up by 16.5 percent at current exchange rates and 17.9 percent at constant exchange rates to 309.1 million euros. The company said that the first quarter performance is in line with expectations and consistent with the 10 percent growth expected for the full year. Commenting on the results, Brunello...

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Asos reports H1 loss, names new CFO

For the first half period, Asos reported an adjusted pre-tax loss of 120 million pounds, while total sales declined by 18 percent to 1,505.8 million pounds. Adjusted EBITDA loss widened to 16.3 million pounds compared to the 4.6 million pounds in the period last year. Asos reiterated guidance for FY24 sales decline of 5 to 15 percent, positive...

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Fy! acquires marketplace Trouva

London-based Trouva, the platform for independent boutiques and brands, has been acquired by Fy!, the AI-enabled marketplace for home and living. The acquisition doubles Fy!'s business size and is part of its wider strategy to leverage artificial intelligence to offer unparalleled marketplace experiences for sellers and buyers alike. Trouva,...

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Superdry confirms proposed restructuring plan, possible delisting on horizon

Amid heightened speculation surrounding its future, Superdry has outlined its proposed restructuring strategy as part of the company’s broader ongoing turnaround plan aimed at delivering a more financially sound operating model. The struggling retailer said that C-Retail Limited, a wholly owned subsidiary of the company which owns the leasehold...

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Gildan outlines strategic priorities, confirms 2024 outlook

Gildan Activewear’s president and CEO, Vince Tyra has unveiled his key strategic priorities for the company. Concurrently, Gildan also reconfirmed its 2024 full year guidance and said that the preliminary first quarter revenue is expected to come in at approximately 695 million dollars or down about 1 percent year over year. Reflecting on his...

Management

Amazon to invest 700 million euros in European robotics and AI

Amazon is leveraging its Innovation Lab, a diverse team of scientists and engineers from around the globe, to pioneer new technologies aimed at enhancing support for employees and improving customer satisfaction. Situated in Vercelli, Italy, the Amazon Operations Innovation Lab is shaping the trajectory of work across Amazon's network where...

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Q1 of 2024 marked by series of job cuts

The first quarter of the year has outlined the tough reality of the current market, with last year’s challenging financial period leaving many companies with no option but to initiate strategic reviews. And, as part of this process, inevitably the question of jobs comes into play, with roles, departments and geographies coming under the...

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Uniqlo parent Fast Retailing increases half-year sales and profit

Thanks to the strong international business of its Uniqlo clothing chain, the Japanese retail group Fast Retailing Co. Ltd. was able to close the first half of the 2023/24 financial year with solid growth in sales and earnings. In light of the latest figures, the company raised its profit forecast for the full year on Thursday. However, the...

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THG manages to narrow FY23 losses, revenues drop

THG Group’s preliminary revenue declined 8.4 percent, while the group’s continuing revenue of 1,983.7 million pounds, declined 2.8 percent as the company prioritised profitable sales and territories reflected in the higher quality EBITDA. Fourth quarter revenue improved 1.1 percent. The company said in a statement that the UK was a key growth...

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Multi Corporation invests in retail asset manager Realm

Dutch retail management and development company Multi Corporation is returning to the UK after acquiring a majority stake in retail asset and property manager Realm, which represents 45 percent of the UK outlet market. Realm, founded in 2021, is a leading operator of retail destinations and designer outlets. Its portfolio includes the London...

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P448 announces JV with The Camp Brands to expand presence across Europe

P448 has announced a joint venture partnership with The Camp Brands to expand and grow P448's European wholesale distribution and open stores in Europe. In addition, The Camp Brands will also manufacture and market P448 branded apparel globally. P448 Europa The company said in a release that the new division will be called P448 Europa, and...