Business

Next acquires majority stake in Joules for 34 million pounds

British clothing retailer Next has acquired a majority stake in struggling heritage brand Joules through a newly formed company for 34 million pounds in cash. In a regulatory filing, Next said it has partnered with Joules’ founder Tom Joule to acquire the company out of administration. The company has already acquired the current Joules head...

1 Dec 2022

Retail

India's online marketplaces could be fashion's next frontier, says report

India’s online marketplaces are set to triple in the next five years, presenting opportunities for fashion companies who desire access to one of the world’s fastest growing economies. Research from Bain & Company and Accel shows India’s marketplaces will reach 350 billion dollars in gross merchandising value (GMV) and contribute more than 5...

1 Dec 2022

Business

PVH swings to Q3 loss, but revenue beats estimates

Tommy Hilfiger owner PVH Corp fell into the red in the third quarter despite stronger-than-expected revenue. The US fashion giant made a net loss of 186.7 million dollars in the period compared to a profit of 279.7 million dollars a year earlier. Revenue of 2.281 billion dollars was 2 percent below the previous year, but 7 percent higher on a...

1 Dec 2022

People

Ann Demeulemeester appoints Ludovic de Saint Sernin as creative director

Ann Demeulemeester has appointed Paris-based designer Ludovic de Saint Sernin as the brand’s new creative director. Mr de Saint Sernin will be the first creative director since the Belgian label was bought by New Guards Group co-founder Antonioli, the luxury retailer based in Italy and Switzerland. In July 2020 Ann Demeulemeester’s then creative...

1 Dec 2022

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