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Designer Brands and Pensole Lewis College inaugurate black-owned footwear factory

Designer Brands, an American footwear and accessory designer, producer and retailer, and Pensole Lewis College of Business and Design (PLC) opened the doors to one of the first black-owned footwear factories in the US this Monday, called ‘JEMS by Pensole’. The factory is located in New Hampshire and marks the brand’s apex of its two million...

21 Mar 2023

Business

Claire’s announces expansion into over 500 Asda locations

After a successful test phase in ten stores in October 2020, the partnership between fashion and jewellery retailer Claire’s and British supermarket chain Asda will be further expanded to over 500 stores. Products will range from everyday products like hair accessories, cosmetics and fashion as well as seasonal items for holidays or other...

21 Mar 2023

Business

Poshmark and EnviroKlenz team up to reduce clothing waste

Poshmark, a second hand market place, and EnviroKlenz, provider of innovative laundry solutions, announced their new partnership in cooperation with brand ambassadors to promote second hand shopping and reduce textile waste. The intention is to retain clothes “in circulation for longer and help make a positive impact on the planet”, as stated in...

21 Mar 2023

Business

L’Oréal becomes founding investor in sustainable material developer, Geno

Beauty giant L’Oréal has become the final founding investor in Genomatica (Geno), a manufacturer of sustainable materials, joining the likes of Unilever and Kao Corporation in backing the venture. L’Oréal’s presence will bring the group’s collective member revenue to over 100 billion dollars as it also accesses a wide range of products for...

21 Mar 2023

Business

Dior names Olivier Bialobos deputy managing director

Luxury fashion house Dior has announced that its communications executive Olivier Bialobos has been promoted to the newly created role of deputy managing director in charge of global communication and image. Bialobos will report to Delphine Arnault, who moved from Louis Vuitton in February to take over as chairman and CEO at Christian Dior...

21 Mar 2023

Business

Rue21 names new chief executive officer

American retailer Rue21 has announced the appointment of Josh Burris as its new chief executive officer and member of the board. Burris will succeed Bill Brand, who revealed his intention to step down from the position earlier this month. In a release, Burris said on this appointment: “I’m honoured to be joining Rue21 as CEO. “As a brand, Rue21...

21 Mar 2023

Business

New Look head office staff face new redundancies

New Look employees are facing redundancy once more, as the retailer continues to restructure as an omnichannel and digital first business. This time it is the retailer's head office roles which have come under scrutiny. Over the past few years New Look has reduced its real estate portfolio by almost 50 percent, from 800 stores to just over 400...

20 Mar 2023

BusinessFeatured

Scotch & Soda files for bankruptcy for Dutch operations amid 'severe cash flow issues'

Fashion retailer Scotch & Soda has filed for bankruptcy for its Dutch operations following “a chain of events that accelerated severe cash flow issues”. The company said in a LinkedIn post that the pandemic combined with high inflation forced it to declare bankruptcy in the Netherlands despite reporting record sales of 342.5 million euros in...

20 Mar 2023

Business

Amazon to cut 9,000 more jobs, CEO confirms

Amazon CEO Andy Jassy said Monday he was cutting 9,000 more jobs from the online retail giant's workforce, following the 18,000 that were axed in January. "Given the uncertain economy... and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount," Jassy said in a memo to staff. The...

20 Mar 2023

BusinessFeatured

Tom Ford names Plastic Innovation Prize winners

Material science competition the Tom Ford Plastic Innovation Prize, created by the fashion designer in partnership with Lonely Whale, has named three winners who will receive investment from its 1.2 million US dollar prize purse to help scale their marine-safe and biologically degradable alternatives to traditional thin-film plastic made from...

20 Mar 2023

BusinessFeatured

Foot Locker reports drop in Q4 profit, but beats expectations

Sportswear retailer Foot Locker has reported a drop in profit in the fourth quarter as its sales fell slightly, but its overall results were ahead of expectations. The New York-based company made a net profit of 19 million dollars in the quarter ended January 28, down from a profit of 103 million dollars a year earlier. That came as the...

20 Mar 2023

Business

Kering outlines new 40 percent GHG reduction target

Kering, a luxury fashion conglomerate, has outlined a new commitment to reduce its greenhouse gas emissions (GHG) by 40 percent by 2035. The group said the new target came as a next step in accelerating its sustainability strategy, which it is looking to implement throughout its portfolio of brands. Linked to a 2021 baseline, it builds on the...

20 Mar 2023