Latest Articles in Business

UK secures “landmark” trade deal with India

The UK and India have agreed a multibillion-pound trade deal, which will reduce tariffs on clothes, footwear, and food products, to mark the biggest bilateral trade deal the UK has done since leaving the European Union. In a statement, the UK government called the deal a “huge economic win” for the UK, which it adds will “deliver for working...

BusinessMember

Keen will not implement any tariff-related price increases in 2025

US footwear brand Keen, known for its outdoor shoes, has stated it will not implement any tariff-related price increases for the remainder of 2025. In a statement, the family-owned company said that in these unprecedented times, it has been “monitoring the landscape and listening to its partners, fans, and community,” and is dedicating itself to...

BusinessFeaturedMember

Pandora reports sales growth in Q1 and is bracing for US tariffs

Danish jewellery brand Pandora has reported a 7 percent organic sales growth in the first three months of 2025, but states it is “actively preparing” for the impact of US tariffs. In a statement, Pandora said that its continued mission to execute its Phoenix strategy, to position Pandora as a full jewellery brand, is delivering “solid financial...

BusinessMember

Repreve maker Unifi launches extremely durable recycled yarn Fortisyn

The problem with recycled yarns and fabrics, for many, is the assumption that a recycled yarn cannot be as strong as one made from virgin materials. Enter Unifi, maker of recycled polyester brand Repreve. The company recently launched Fortisyn, an abrasion-resistant and durable yarn that provides fabrics with enhanced tear and tensile strength,...

Business

Shein, Temu, AliExpress: End of duty-free low-cost goods from China in the US

Since May 2, 2025, the US ended a customs rule that allowed Chinese platforms like Shein, Temu and AliExpress to flood the American market with cheap products. This abrupt end to the ‘de minimis’ regime disrupted their business model and reshaped the landscape of global online commerce. Us toughens its stance on Chinese imports Since 4:01am GMT...

BusinessFeaturedMember

After solid start to quarter, Kontoor Brands updates annual forecasts

The US apparel company Kontoor Brands Inc. kept its revenue largely stable in the first quarter of fiscal year 2025. However, negative special effects weighed on profits. In addition to the current figures, the parent company of denim brands Wrangler and Lee also presented updated annual forecasts on Tuesday. These now also take into account the...

Business

Arda Biomaterials secures 5.25 million US dollars to commercialise technology

Arda Biomaterials, which transforms brewery and whisky waste into novel materials, such as leather-like materials, for fashion and retail use, has raised 5.25 million US dollars to commercialise its technology leveraging plant proteins. The British-based chemistry technology company closed an oversubscribed 5.25 million US dollars (4.05 million...

Business

U.S. Polo Assn. targeting 3 billion US dollars in sales

Global sports brand U.S. Polo Assn., the official brand of the United States Polo Association (USPA), has delivered record-breaking sales in 2024, hitting 2.5 billion US dollars globally, as it gains market share in Western Europe, the Middle East and Latin America, as well as continued growth in North America. In a statement, U.S. Polo Assn....

BusinessMember

New Look onboards 100 percent of core suppliers to TrusTrace platform

British retailer New Look, one of the UK’s leading womenswear brands in the 18-44-year-old sector, has successfully onboarded 100 percent of its core supplier base onto digital traceability platform TrusTrace. In a statement, New Look said the move to utilise TrusTrace technology would allow it to "more effectively map and manage its supplier...

BusinessMember

Retailers should regularly review cyber controls as threat of attack increases

In view of recent cyber attacks on British department store Harrods, apparel retailer Marks & Spencer and others, audit, tax and consulting firm RSM UK is advising retailers to regularly review their cyber risk controls to ensure “they are as robust as possible”. “Retailers are already navigating a difficult trading environment shaped by fragile...

Business

Difficult market conditions: Hugo Boss reports decline in sales and profit in first quarter

The Metzingen-based fashion group Hugo Boss AG felt the impact of the current adverse market conditions in the first quarter of the 2025 financial year. On Tuesday, the company announced declines in sales and earnings. However, the clothing supplier maintained its annual forecasts. “Following a successful final quarter in 2024, our business...

Business

Zalando remains on growth path in first quarter

The Berlin-based online fashion retailer Zalando SE concluded the first quarter of the 2025 financial year with a solid increase in sales and significantly improved its earnings. The latest results, which the company presented on Tuesday, were not surprising. Analysts had recently expected that the e-commerce specialist would continue its growth...