Articles by Jan Schroder
Ermenegildo Zegna Group starts new fiscal year with decline in revenue
Italian fashion group Ermenegildo Zegna NV experienced a slight decline in revenue in the first quarter of fiscal year 2025. This was primarily due to continued weak demand in China and losses at the Thom Browne brand. According to preliminary figures released by the company on Thursday, consolidated revenue for the period from January to March...
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Mytheresa completes acquisition of YNAP
E-commerce specialist Yoox Net-a-Porter (YNAP) now officially has a new owner. On Thursday, Munich-based fashion retailer Mytheresa and Swiss luxury goods group Compagnie Financière Richemont SA (Richemont) announced the completion of their transaction agreed last autumn. Accordingly, MYT Netherlands Parent BV, the listed parent company of...
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Adidas exceeds expectations in first quarter
German sportswear provider Adidas AG made a surprisingly good start to the 2025 financial year, according to selected key figures published by the company on Wednesday evening. According to preliminary figures, sales in the reporting currency, adjusted for exchange rate changes, each rose by 13 percent compared to the same period last year,...
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Jack Wolfskin acquired by Anta Sports for 260 million euros
German outdoor outfitter Jack Wolfskin is getting a new owner. The US-based group Topgolf Callaway Brands Corp. announced on Thursday that it intends to sell the brand to the Chinese sporting goods group Anta Sports Products Limited. A corresponding agreement has already been signed for a basic purchase price of 290 million dollars, which could...
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Inspecs Group reports sales decline and higher loss
British eyewear group Inspecs Group plc faced a decline in sales and a significantly higher loss in fiscal year 2024. CEO Richard Peck attributed the results, published on Thursday, to generally weaker customer demand. In light of the "difficult macroeconomic conditions," he stated that the company had demonstrated "resilience" and made...
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Following strong first-half growth: Uniqlo parent Fast Retailing raises profit forecast
Japanese retail group Fast Retailing Co. Ltd. concluded the first half of its 2024/25 fiscal year with record sales and earnings. Given the recent surprisingly positive performance, the parent company of the Uniqlo clothing chain raised its full-year profit forecast on Thursday. In the first half, which ended on February 28, consolidated revenue...
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LVMH appoints new heads for Kenzo and Fendi
French luxury goods group LVMH has made further leadership appointments. On Monday, the group announced the future CEOs of the fashion houses Kenzo and Fendi. The Louis Vuitton label also appointed a new head of its China business. Both CEOs come from within the company Charlotte Coupé has been appointed the new CEO of Kenzo. She will assume her...
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CEO change at Puma: Arthur Hoeld Succeeds Arne Freundt in 2025
German sportswear company Puma SE and CEO Arne Freundt are parting ways. His successor has already been named. The current CEO and the Supervisory Board have “mutually agreed that Arne Freundt will step down as Chief Executive Officer effective April 11, 2025, and leave the company after 14 years in various leadership positions due to differing...
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Kering Eyewear acquires Visard and joins Mistral
French luxury goods group Kering SA is investing in its eyewear division. On Thursday, the group announced corresponding agreements with two Italian eyewear manufacturers. According to the agreement, the subsidiary Kering Eyewear will acquire all shares in Visard Srl and a minority stake in Mistral Srl, founded as a spin-off from Visard in 1991....
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Mister Spex reports increased losses in 2024, implements restructuring program
Berlin-based eyewear retailer Mister Spex SE reported expected sales declines and increased losses for the 2024 fiscal year, according to the company's annual report released on Thursday. Management is now hoping for positive effects from the comprehensive restructuring program "SpexFocus," launched last August. Stable sales in Germany Revenue...
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