Fashion
H&M confirms full year sales increase
Despite a "turbulent year characterized" by "geopolitical challenges and substantial cost inflation", the Sweden-based fashion group posted a full year 2022 sales increase of 12% over fiscal 2021
LVMH posts record annual sales
The French-based luxury group reported to have reached a revenue of 79.2 billion euros in 2022, with profit from recurring operations totalling 21.1 billion euros, both up by 23% over 2021
Primark reports very strong Christmas period
The retailer posted a sales increase of 15% in the 16 weeks to the 7th of January 2023, driven by strong footfall after the easing of COVID-19 restrictions, which impacted last year's results
British Vivienne Westwood dies at 81
The fashion designer, who was the pioneer of the punk fashion phenomenon of the 70s and whose subsequent eccentric styles had a major influence in later decades, died at the age of 81. She was also a known climate activist
Inditex will invest at least 10 million euros to restore ecosystems
The Spanish-based fashion group has signed a three-year partnership agreement with the World Wide Fund for Nature (WWF) to support nine of the organization's conservation projects
Scotch & Soda announces new footwear licensee
The Amsterdam-based fashion brand has signed a worldwide licensing deal with Bos Group International for the design, production and distribution of the brand’s footwear collections
H&M full year sales to rise
The Sweden-based fashion group has released its sales development for the full year 2022, including the fourth quarter, ahead of the publication of final results on the 27th of January 2023
Inditex reports sales growth of 19%
The Spanish-based fashion group reported a sales increase of 19% in the first nine months of 2022, reaching 23.1 billion US dollars, as compared to the same period of last year
Andrea Guerra appointed CEO of the Prada group
The luxury group announced that the former CEO of Luxottica and LVMH's hospitality unit, Andrea Guerra, will be proposed as CEO at the next board meeting on the 26th of January 2023
H&M to lay off 1 500 people
The Sweden-based fast fashion company announced that it will cut around 1 500 jobs from its workforce as part of a global cost and efficiency programme recently initiated
Gucci's Creative Director Alessandro Michele steps down
The Italian-based luxury House has announced that the Rome-born designer is stepping down as Creative Director, effective immediately, after almost eight years in the job
Capri Holdings announces second quarter results
The fashion group, owner of Versace, Michael Kors and Jimmy Choo, reported revenue growth of 8.6% in the second quarter of fiscal 2023, driven by good performances of its three houses
Alexandra Moura reinvents Wock models
Following the success of the first collaboration, the Portuguese designer teamed up again with the Portuguese-based footwear professional company Wock to reinvent one of its models
Asos embarks on reorganization under new CEO's leadership
In the process of introducing a new business model focused on increasing flexibility within its logistics and reducing costs, Asos is writing off up to 130 million British pounds (150 million euros) of stock
Secondhand market tripled in size since 2020
The estimated value of the apparel, footwear, and accessories resale market is now between 100 and 120 billion USD worldwide, more than three times the size it had two years ago-
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