Latest Articles in Business

Next reportedly preparing for bid on Harvey Nichols

British retail giant Next is believed to be preparing to launch a takeover bid for Harvey Nichols just days after the owner of the department store chain announced plans to sell the business. According to Sky News, Next has entered the race to potentially acquire the struggling retailer from billionaire entrepreneur Dickson Poon, who is mulling...

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7-Eleven sues Nike over allegations of brand identity imitation

Convenience store giant 7-Eleven has sued Nike over claims that the sportswear giant copied its signature tri-colour stripe branding for a new sneaker design. The filing specifically pertains to Nike’s use of an orange, green and red stripe feature seen on its incoming Air Max 95 sneaker, scheduled to release on July 11, typically referred to as...

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Inditex's money turns to brick and mortar

Amancio Ortega, founder of Inditex, reportedly manages a real estate portfolio valued at around 20 billion euros through his holding company Pontegadea, according to Forbes. Pontegadea, led by its chief executive officer, Roberto Cibeira, reinvests a significant portion of the dividends Ortega receives from the Galician textile multinational...

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Gymshark founder reportedly considering buying back stake from General Atlantic

Gymshark founder and chief executive officer Ben Francis is believed to be in talks to buy back part of the stake held by private equity investor General Atlantic, according to the Financial Times, in a move that would increase his control of the activewear brand. The discussions reportedly centre on the size and valuation of the transaction,...

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From UFLPA to DPP: The shift from cheap labour to complete transparency

In recent years, the global textile and apparel landscape has transformed from a race for the cheapest labour to a high-stakes battle over supply chain data. While the EU and its trade partners are readying themselves for the upcoming Digital Product Passport (DPP), not a few are wondering which impact it will have on global logistics....

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Indian market: Comité Colbert signs agreement to facilitate French luxury expansion

Comité Colbert, a French committee uniting over 90 luxury houses across multiple sectors, formalised a Memorandum of Understanding (MoU) with the French-Indian Chamber of Commerce and Industry, with the ambition to support the development of French luxury houses in India and remove the main barriers to their establishment in this growing market....

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Fashion crisis in Tuscany: Supply chain workers to strike on July 9 in Florence

Production workers in Tuscany, Italy, are preparing to go on strike on July 9 as calls for a restructuring of the supply chain landscape escalate. According to figures provided by local trade unions, 830 leather goods companies in the province of Florence have closed since 2019, affecting 7,000 employees who were partially reabsorbed by other...

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AI and luxury: New battle for visibility on ChatGPT

For decades, luxury houses have mastered their image down to the finest detail. Every customer touchpoint, from advertising and window displays to boutiques, social media and runway shows, was meticulously scripted. This dynamic is now changing. According to the fifth edition of the 'Luxury & Technology' study, published June 30 by the Comité...

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FitFlop CEO: “We want to own summer”

British footwear brand FitFlop, founded by wellness entrepreneur Marcia Kilgore in 2007 and known for its ergonomic and wellness footwear, is undergoing a brand evolution to transform into a global lifestyle brand, aiming to "own summer" by focusing on women's footwear and expanding its reach through strategic collaborations to become a billion...

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US denies renewal of USMCA

The White House has chosen not to renew its trilateral trade agreement with Canada and Mexico, also known as USMCA. The Trump administration has opted to conduct annual reviews of the deal after disagreeing with its current form. In a statement, US Trade Representative Jamieson Greer said that following the most recent joint review, the US would...

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Chanel adds Charvet to its supplier portfolio

Chanel announced the acquisition of shirtmaker Charvet on Thursday. The decision follows a historic relationship spanning several decades between the two French houses. After 188 years of independence, the Parisian company Charvet is beginning a new chapter by joining the portfolio of luxury group Chanel. The financial details of the transaction...

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Inditex completes its share buyback programme, saving 19 million euros

Madrid – The Inditex group has successfully completed the share buyback programme announced in early February. The programme was designed to increase the company's treasury shares to meet obligations from its Long-Term Incentive Plans for certain members of its management team and employees. This operation was finalised with a saving of...