Online retail giant Amazon on Tuesday said it had decided against showing consumers how much US President Donald Trump's tariffs have contributed to the price tag on its goods. "The team that runs our ultra low cost Amazon Haul store considered the idea of listing import charges on certain products. This was never approved and is not going to...
6 hours ago
Filippa K has a new owner. OJ Holding Sweden AB, the parent company of Oscar Jacobson, acquired Filippa K from Novax, the company announced this in a press release. Here, it was emphasised that Filippa K will continue to operate as an independent label within the group. The financial terms were not disclosed. Filippa K was founded in 1993 and...
7 hours ago
The White House on Tuesday slammed Amazon over reports it would soon tell consumers how much US President Donald Trump's tariffs have contributed to the price tag on its goods. "This is a hostile and political act by Amazon," Press Secretary Karoline Leavitt told reporters during a briefing in Washington. "Why didn't Amazon do this when the...
8 hours ago
Marketplace giant Amazon has teamed up with US department store Saks Fifth Avenue on a new multi-brand storefront, featuring a curation of luxury fashion and beauty brands that will now be housed under ‘Luxury Stores at Amazon’. Through the new partnership, Amazon Fashion customers can now browse and shop a selection of women’s and men’s...
Package delivery giant UPS said Tuesday it plans to cut 20,000 positions worldwide in 2025 following a significant drop in business for Amazon, its largest customer. UPS expects to "reduce our operational workforce by approximately 20,000 positions during 2025 and close 73 leased and owned buildings by the end of June 2025," the company said in...
9 hours ago
A number of established brands and fashion groups have joined in the second cohort of the Ellen MacArthur Foundation’s The Fashion ReModel project. Among the new names are sportswear retailer Decathlon, British department store John Lewis and US luxury group Tapestry. Secondhand marketplace Ebay and Colombia textile manufacturer Crystal S.A.S...
Amsterdam-based textile innovation studio ByBorre launched the Textile Room, a digital platform that offers designers worldwide access to configurable fabrics. The Textile Room features 20 directly customisable textiles within the studio's AO3 and 3D-knit structures. Designers can configure colour combinations, pattern repeats, and texture...
12 hours ago
Ixi, a Finnish startup centred around ‘autofocus’ eyewear, has announced the closing of a Series A funding round amounting to 36.5 million dollars. The investment, led by London-based investment fund Plural, is intended to aid in the product development of Ixi Adaptive Eyewear, with the goal of establishing commercial operations. Additional...
13 hours ago
Sportswear retailer Gymshark welcomed a strong revenue growth for FY24, recording an increase of 9 percent per annum which amounted to 607.3 million pounds. While its “active trading stance” and “vibrancy of the brand” were cited to have aided in the uptick, such instances were unable to help profit, which continued on a downward trend. For the...
THG has highlighted a transformative year marked by strategic progress, operational resilience, and balance sheet deleveraging in its preliminary results for the financial year ended December 31, 2024. The company also announced results for the first-quarter of fiscal 2025. Key headlines include FY 2024 pre-demerger revenue of 1.88 billion...
Sales for Primark saw impact from cautious consumer sentiment in the UK for the 24 weeks to March 1, yet in other regions “good underlying growth” was largely reported by the budget retailer’s parent company, Associated British Foods (ABF). Central and Eastern Europe welcomed the highest growth in sales at 21 percent, as the company continued to...
14 hours ago
In 2024, revenue for the Vinted Group, the parent company of marketplace Vinted, logistics company Vinted Go, and payments company Vinted Pay, totalled 813.4 million euros. This represents an increase of 36 percent compared to financial year 2023. While the revenue growth was already notable, the net profit growth was significantly larger. It...