Latest Articles in Business

Guerlain ventures into prestige haircare market

Guerlain, the LVMH-owned French cosmetics house, is set to venture into the haircare market, as per a report from WWD. The launch of Guerlain's inaugural haircare line, scheduled for June 15th, signifies the company's strategic move into a prestigious sector that is projected to experience significant growth. According to Statista, the prestige...

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Data and collaboration key moving forward, says PVH supply chain director

Strong collaboration and data-driven systems are key to building resilient and adaptable supply chains. That’s according to Marian Temmen, senior director of supply chain transformation and innovation at PHV, the US fashion giant behind labels Calvin Klein and Tommy Hilfiger. Speaking Tuesday at the PI Apparel Supply Chain Forum, which took...

Business

Maison Margiela's numeric trademark is rejected by EUIPO

Maison Margiela, the luxury label recognisable by its discreet four garment label stitches and its numeric logo, has seen the sequence of its numbers 0 to 23 as a trademark rejected by the European Union Intellectual Property Office (EUIPO). The EUIPO’s decision clarifies that a pattern, whether numerical or otherwise, must be capable of...

Business

Report: Superdry in talks to outsource e-commerce operations to Shopify

UK fashion retailer Superdry is reportedly in talks to outsource its online operations to Canadian e-commerce giant Shopify amid an ongoing cost cutting drive. Superdry, which has been working to streamline its operations recently in an effort to return to profitability, has been holding talks with third-party providers over its e-commerce...

Business

Why Russian diamonds remain a conundrum for European sanctions

In a parallel to the fashion industry, the diamond trade faces challenges in tracing the origins of its precious stones, maintaining an opaque nature. Just as a garment produced in Romania may bear a "Made in France" label upon receiving final touches there, such as the addition of a care label or a button, diamonds follow a similar pattern....

Business

CP Company in agreement with Altana for kidswear

Tristate International Sa, licensee of the CP Company brand, joins forces with the Altana Group with a long-term licensing agreement for the creation, production and global distribution of clothing for the CP Company undersixteen children's line. The product, reads a note, will be the result of the Altana Group's experience in managing the kids...

Business

Andam Fashion Awards unveils 12 finalists for 2023 edition

The 12 finalists of the Andam Fashion Awards have been unveiled ahead of the final presentation in front of a judges panel set for June 29. Six nominees have been selected for the Andam Grand Prize of 300,000 euros and a special prize of 100,000 euros, including Andreādamo, Duran Lantink, Ester Manas, Gauchere, Gmbh and LGN Louis-Gabriel Nouchi....

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Guess believed to have reacquired share of Russian business

In what has been deemed as an unusual move, American fashion label Guess has reportedly reacquired its stake from its Russian partner. The retailer is believed to have bought back its 30 percent share from local partner Vyacheslav Skikulov for eight million euros, according to Russian news outlet Kommersant. The publication also said Guess had...

Business

Walgreens Boots Alliance reportedly cutting 10 percent of corporate jobs

Pharmaceutical group Walgreens Boots Alliance (WBA) has reportedly said that it would be cutting 10 percent of its corporate jobs as it looks to streamline operations. The company said that it would be eliminating 504 roles, many of which are believed to be based at the Deerfield and Chicago offices. In a statement to Reuters, the company noted...

Business

New Look reportedly seeking 100 million dollar refinancing deal

High street fashion retailer New Look is believed to be in talks with lenders over a possible 100 million dollar refinancing of its debt, which matures in June 2024. The company is understood to be working with advisers Deloitte on securing the long-term loan just two years after its most recent restructuring. According to sources for Sky News,...

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How 10 million euro EU project Cisutac aims to remove barriers to a circular textile industry

A new consortium, Cisutac, wants to remove the barriers that European fashion brands and textile suppliers face on their journey to become circular. Co-funded by the European Union (EU) and supported by 27 partners, the project aims to increase reuse, repair, and recycling capacities for discarded clothes with affordable tools. “The European...

Business

H&M Foundation donates 250,000 dollars in wake of Cyclone Mocha

H&M Foundation, the philanthropic arm of H&M Group, has announced it is to donate 250,000 dollars to the Red Cross/Red Crescent to support their efforts in responding to Cyclone Mocha. The cyclone, considered the strongest in the last 10 years, descended along the Bangladesh-Myanmar border on May 14, bringing significant damage to both countries...