Ernst & Young (E&Y) has been accused of providing shoddy advice to private equity major Bain Capital to invest in the Indian firm Lilliput Kidswear. Now it has to pay 35 million dollars (Rs 235 crores) to settle a Massachusetts lawsuit against it. The 2014 lawsuit alleged that EY’s auditing helped an […]

New York - Alibaba Group Holding Limited announced today that they have signed a 3 billion dollar deal syndicated loan agreement with eight lead arrangers for five years. The loan, which is subject to upsize through oversubscription in syndication, has a five-year bullet maturity and is priced at 110 […]

REPORTFiscal year 2015 was the sixth year of growth in succession for Hugo Boss with sales and operating profit rising to new levels. However, the company said, due to the difficult market situation and company-specific challenges in the US and China, earnings fell slightly short of expectations. For […]

REPORTApproving the draft financial statements for fiscal 2015, Yoox Net-A-Porter Group confirmed that pro-forma net revenues were up 30.9 percent or 20.8 percent on constant exchange rates to 1.7 billion euros (1.8 billion dollars). A positive performance was also achieved in the fourth quarter of […]

SMCP, the parent company behind fashion luxury retailers Sandro, Maje and Claudie Pierlot has taken the first steps for a potential initial public offering (IPO). The company has filed a registration document with the French stock market regulator, the AMF, beginning the process for a possible IPO. […]

After closing the year saying that the plans to take the company public wouldn´t be implemented any time soon, Valentino is having second thoughts and wouldn´t rule out an IPO for 2017. The Italian fashion house has had quite a positive kick of the year as it has just announced that profit for fiscal […]

The lossmaking fashion e-commerce portal Jabong has got a fresh lease of life after Global Fashion Group (GFG) decided to inject additional funds into the e-portal. More than 20 million dollars (Rs 13.42 crores) have been agreed to be put in the venture. This decision came about in a meeting held in […]

Flipkart, India’s largest online retailer, has secured a credit line of over Rs 450 crore from private sector bank HDFC. The agreement was signed recently through Flipkart India, which is one of the two key entities that control the e-tailer’s India operations. This information was revealed in the latest […]

REPORTOTB (Only The Brave) has said that major developments within the company such as restructuring of the parent company Diesel, acquisition of Marni in November last year and currency headwinds negatively impacted its net profit during fiscal 2015. The company reported 36 percent decrease in net […]

London - Yoox- Net-a-Porter (YNAP), online luxury fashion retailer has joined forces with technological firm IBM to form a long-term strategic partnership which aims to enhance YNAP platform, share technology and develop a new think-tank. The new partnership aims to focus on enhancing YNAP omni-channel […]

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