Macy’s has announced plans to hire approximately 76,000 new full- and part-time employees across its Macy’s, Bloomingdale’s and Bluemercury stores, call centers and distribution and fulfillment centers ahead of the holiday season. Around 48,000 positions will be holiday roles, while the rest will be permanent positions, the US department store...
5 hours ago
The British Fashion Council’s Institute of Positive Fashion has launched the Circular Fashion Eco-system Report, a blueprint for a circular fashion economy in the UK to address the industry’s impact on the planet through linear production models. Described as “bold and vital,” the report sets out a practical approach to creating a circular...
7 hours ago
Italian luxury group Yoox Net-a-Porter (YNAP) has opened a new 47 million euro distribution centre in Italy that it says is one of its “most significant investments” in the country in the past 20 years. The 54,000 square metre facility - located in Landriano, near Milan - is the first single hub to serve the group’s entire global Net-a-Porter...
Sep 21, 2021
Athletic retailer Foot Locker has completed its acquisition of Eurostar, Inc. (“WSS”), a U.S.-based athletic footwear and apparel retailer that primarily operates on the West Coast, for 750 million dollars in cash, subject to customary adjustments. In a statement, Richard A. Johnson, chairman and CEO of Foot Locker, said, “WSS is a highly...
Fast-fashion retailer H&M has revealed its new short film as part of New York City Climate Week, created in collaboration with an international team of digital artists. Premiering today, the project intends to inspire and educate viewers on what they can do to contribute to the circular fashion industry, with the film centring around the...
Sep 20, 2021
There is no doubt that multinational corporations and conglomerates specializing in luxury and fashion are some of the industry’s most successful businesses. Think LVMH, Kering, Farfetch and New Guards Group, Richemont, OTB, Capri Holdings, Inditex, Swatch, etc, and think of these businesses each controlling a small number of houses and brands....
Four in five UK retailers could close stores if no business rates reform is agreed by the government at its upcoming and long-awaited review, according to a new report. A survey of major retailers conducted by the British Retail Consortium (BRC) found that 83 percent of respondents said they are either likely or certain to close stores unless...
Thélios, the eyewear division of LVMH, has announced a long-term partnership with the fashion group’s Givenchy brand. The partnership will see Thélios exclusively design, develop, manufacture, and globally distribute Givenchy Eyewear starting on January 1, 2022 with the brand’s Spring 2022 collection. Thélios already designs and manufactures...
A monogrammed Louis Vuitton Pochette bag sells for 560 dollars. In another listing a Cartier Tank watch in steel is on sale for 2,700 dollars. Pre-owned luxury site Tradesy is the latest platform hoping to take a share of the booming re-sale market, a category that has both consumers and investors excited. In a Series D funding round, Tradesy...
Sep 17, 2021
This month’s Fashion Friday podcast episode by Euromonitor International analyses top trends shaping the apparel industry in South Africa in the medium term. The region experienced recessionary economic conditions in the past year due to the COVID-19 pandemic. In the Middle East & Africa, the value of the industry declined by 15 percent due to...
H&M’s (HMb.ST) sales grew less than expected from a year ago in the three months through August, and remained lodged below pre-pandemic levels. The company reported sales of £4.7billion at H&M in the three months to the end of August were down 11 per cent on the pre-Covid equivalent two years earlier. Indeed, H&M Group’s growth was slower than...
Inditex, the world’s largest fashion retail group, has presented half-yearly results that show - in the words of Pablo Isla, CEO of the company - that its “competitive position is stronger than ever.” The group’s shares have swept the stock market, reaching highs not seen since 2012. Earnings before interest, taxes, depreciation and amortization...
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