The UK-based fashion retailer reported a total sales growth of 5.9% year-on-year in its last fiscal year and a pre-tax profit that beat the expectations announced in January
In mid-March, France’s lower parliament approved a bill imposing penalties on ultra-fast fashion products to help offset their environmental impact. The law has now been sent to the Senate
After more than 23 years at Arnault’s side, Belloni will step step down as Group Managing Director and Chairman of the Executive Committee of the LVMH Group, effective from the 18th of April
The next edition of the Milan-based fashion trade fairs, MICAM Milano, MIPEL, TheOne and Milano Fashion & Jewels will be held at Fieramilano (Rho) from the 15th to the 17th of September 2024
The British fashion retailer is planning to appoint administrators, a spokesman for owner Authentic Brands Group confirmed on Tuesday. Hundreds of jobs are expected to be at risk
The Spain-based fashion group reported a 10.4% year-over-year growth in sales to 35.9 billion euros in 2023, with positive results across all channels and regions. Profits up by 30.3%
The Spanish-based fashion group has increased its turnover by 15%, reaching more than 3.1 billion euros for the first time in 2023. It aims now to pass the 4 billion mark by 2026
The US company has posted a year-on-year decline in sales and profits for both the fourth quarter and full year, but said it’s in a better financial position to continue its modernisation strategy
Retail sales of clothing and footwear disappointed in the last quarter of the year after a promising start on Black Friday. This is not particularly surprising given that prices in the category fell more slowly than overall prices and items remain relatively more expensive, making consumers more cautious in their choices. There are some long-term positive signs for retailers when it comes to consumer confidence, but there are likely to be some bumps in the road in the meantime
The Sweden-based retailer plans to close a fifth of its stores and lay off up to 588 employees in Spain. H&M currently operates 133 stores in the country and employs nearly 4 000 people
The Sweden-based group has reported a 6% growth in net sales in 2023, as compared to the previous year. However, its CEO has stepped down amid sluggish sales at the start of the year
At the same time as reporting its 2023 results, the fashion group announced a change at the top. Daniel Ervér is the group’s new CEO, succeeding Helena Helmersson, who stepped down after four years in the role
The French-based luxury conglomerate has named Michael Burke as Chairman and CEO of LVMH Fashion Group. He succeeds Sidney Toledano, who was appointed Advisor to Bernard Arnault
As it continues to streamline its business, the department store chain has announced that it will lay off about 3.5% of its workforce, or around 2 350 employees, and close five stores
The luxury group has warned of a slowdown in luxury demand, with preliminary consolidated revenue for 2023 down by 7.6% at current exchange rates and 8.1% at constant exchange rates year-on-year