Latest Articles in Business

After Bottega Veneta: Is the fashion world ready for Matthieu Blazy's vision of Chanel?

As most of the world slows ahead of a festive holiday season, the fashion industry has shifted gears, delivering a whirlwind of major announcements on Thursday evening. After months of speculation, the long-standing mystery surrounding one of the most coveted roles in fashion was finally solved. Matthieu Blazy, as of yesterday, former creative...

Business

Report: Ralph Lauren, Coach and Gucci among brands linked to alleged human rights abuses

A report by the Business and Human Rights Resource Centre has uncovered 28 cases of alleged human rights abuses related to the purchasing practices of large scale, global brands. The organisation said the cases identified and tracked over a nine month period, from January to September 2024, were “global in scale and have impacted thousands of...

Business

Cascale forms US advisory group to define local priorities and strategies

Cascale, formerly the Sustainable Apparel Coalition (SAC), creator of the Higg Index, has announced the formation of a US Policy Member Expert Team (MET) to help define local policy priorities and guide an advocacy strategy in the region. The advisory group will be made up of industry leaders and experts drawn from Cascale’s membership...

Business

Puma opens creative hub in Germany as part of brand elevation efforts

Sportswear giant Puma has opened a new creative hub at its headquarters in Herzogenaurach, Germany, as part of wider efforts to elevate the brand and thus create sustainable growth. Dubbed ‘Studio48’, the 500 square metre hub has been kitted out with a 3D printing facility, leather and textile sewing machines, a product testing area and photo...

Business

Boohoo stands firm in new letter to Frasers Group

In what is yet another response to another open letter issued by Frasers Group, Boohoo is remaining firm on its stance that its majority shareholder should not have its resolutions approved in the company’s forthcoming general meeting. In this latest filing, Boohoo specifically addresses Frasers’ most recent letter to the retailer’s...

Business

Lucien Pagès PR agency joins The Independents

Marketing and communications group The Independents is continuing its expansion through the new acquisition of the French-American public relations agency, Lucien Pagès Communication. The announcement was made on the respective Instagram accounts of the two firms, where it was stated that Lucien Pagès’ ability to provide clients with end-to-end...

Business

Macy’s identifies weakness in ‘internal control’ amid investigation into employee misstatements

US department store giant Macy’s has said that it had “identified a material weakness in its internal control over financial reporting” upon investigating an incident in which an employee allegedly hid around 151 million dollars of cumulative delivery expenses. The discovery was revealed in the company’s latest financial statement, in which it...

Business

In The Style reveals job cuts as full year revenue takes sharp tumble

New accounts filed by fast fashion e-tailer In The Style (ITS) have revealed a series of job cuts at the firm as well as a sharp drop in revenue for the full financial year. The company said that it had reduced people overhead by around 38 percent, reflecting a drop from 179 to 140 employees, after taking certain steps to gain the ability to do...

Business|CEO Interview Featured

Organic textiles brand Cotonea: “We need to overcome the throwaway mentality”

The German manufacturer of organic textiles, Cotonea, has long been committed to greater transparency in the textile supply chain. For example, through the blockchain-based platform Textile Trust, which it developed together with IBM and the supplier of sustainable workwear, Kaya&Kato, back in 2020. Or the Textile Tracker, a joint project with...

Business

Under Armour reiterates revised FY25 outlook

At an investor meeting in New York Under Armour reiterated its full-year fiscal 2025 outlook, which it provided with the second-quarter results in November. Key points related to Under Armour's fiscal 2025 outlook included revenue decline at a low double-digit percentage rate, gross margin to increase by 125 to 150 basis points, operating loss...

Business

Ebay and Klarna expand Buy Now Pay Later to new markets

Multinational ecommerce giant eBay has expanded its partnership with Klarna, transforming the art of digital window shopping into a more fluid financial experience. The collaboration, which spans key European markets, introduces flexible payment options that could revolutionise how fashion consumers approach their purchasing decisions. The...

Business

Frasers states Boohoo ‘grossly exaggerated’ conflicts as retailer cuts jobs

The war of words continues between Frasers Group and Boohoo, which are currently embroiled in a public dispute over boardroom control amid falling sales at the latter. Just hours after Boohoo announced that a proxy advisor recommended for shareholders to vote against Frasers’ proposals in the group’s upcoming general meeting, Frasers has issued...