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Business

Pentland Brands to “hibernate” its Boxfresh brand

Pentland Brands, which owns Speedo and Berghaus, has concluded its global strategic review, which it started before the Covid-19 pandemic, and has announced a number of changes, including plans to “hibernate” its Boxfresh brand and make around 350 redundancies at its UK-based head office to allow it to focus on its core brands. The aim of the...

6 hours ago

Business

Fashion companies rise 21 percent in brand value despite coronavirus pandemic

New York - The retail sector has been the fastest growing in terms of brand value in recent months. According to a recent study by market research firm Kantar, overall, retail companies have risen 21 percent, despite the ravages of the global coronavirus pandemic. This sector boost is largely due to the pull of e-commerce brands like Amazon,...

6 hours ago

Business

River Island to cut around 250 head office jobs

River Island is reportedly planning to axe around 250 head office roles in a bid to cut costs and mitigate the financial impact of Covid-19 on the business. CEO Will Kernan told employees in a letter, seen by Drapers, that Covid-19 is “the most significant challenge in a generation” and as a result, the business now has a requirement for 250...

7 hours ago

Business

AllSaints gets green light for CVAs

AllSaints has been given the green light for its company voluntary arrangement (CVA) propsals as it moves to streamline its UK and US store estates. AllSaints Retail Limited and its subsidiary AllSaints USA Limited received 93 percent and 90 percent of creditor votes in favour of the decision, respectively, significantly above the required...

7 hours ago

Business

Bestseller offers “early and immediate” payments to suppliers

Danish fashion group Bestseller is immediately releasing payments on current orders to its suppliers, as well as implementing early payments until October, to ensure its suppliers' cash flow and help them through the coronavirus crisis. In a statement, Bestseller said: “Over the past four months, we have all faced significant challenges and...

11 hours ago

Business

G-Star files for Chapter 11 bankruptcy in the US

Dutch denim brand G-Star has filed for Chapter 11 bankruptcy in the US citing the impact of Covid-19 on the business. “As a result of this crisis, the previously initiated shift to online has accelerated, at the expense of the performance of physical stores,” a G-Star spokesperson told FashionUnited. “In order to cope with these structural...

6 Jul 2020

Business

Apparel and textile industry tops the list of Japanese companies asking employees to retire early

New York – In an attempt to mitigate the negative economic impact of coronavirus pandemic, more and more companies in Japan are asking employees to retire early. The measure is expected to help companies offset months of declining business, increasing uncertainty and shifting consumer behaviours, all of which are taking a toll in the already...

6 Jul 2020

Business

Study shows that Gen Z’s core values are here to stay post-Covid

While the coronavirus is a “defining moment” in the lives of people belonging to Generation Z, it reinforces their belief of constant change, as the pandemic is simply one of the pivotal events that has taken place in their lifetime. That’s according to research and advisory firm Gen Z planet LLC, which recently commissioned two surveys on...

3 Jul 2020

Business

Boohoo being accused of coronavirus surge in the UK

Fast-fashion e-tailer Boohoo, which reported strong Q1 sales up 45 percent last month, has been accused of fuelling the coronavirus spread in Leicester, after claims that the factories in its supply chain told staff to come into work during lockdown despite being sick. A report from Labour Behind the Label, a garment worker’s rights group,...

3 Jul 2020

Business

Pricing power: Big luxury brands raise prices during crisis

Pricing power: a phenomenon well known to financial analysts and general management. It indicates the practice of a company to increase its prices in periods of economic hardening: it is a question - we understand it easily - to increase its margin to compensate for the fall in sales volumes. Not all companies have this capacity: only those who...

3 Jul 2020

Business

Francesca’s Holdings and Poq to launch mobile shopping app

Francesca’s Holdings Corporation and application commerce company Poq have announced their collaborative plans to develop the first mobile app of American retailer Francesca’s. The app, which is scheduled to launch for iOS this summer, with Android to follow later this year, will enhance customer experience, as well as include a new digital...

2 Jul 2020

Business

Mango attracts almost 900,000 new online customers during lockdown

Spanish fashion brand Mango has said it attracted almost 900,000 new online customers during lockdown, bringing its active e-commerce customers to nearly six million. Mango’s online turnover increased by almost 50 percent between 15 March and 1 June compared to the same period last year. In that same period, it registered over 140 million visits...

2 Jul 2020