Latest Articles in Business

EU accuses Temu of hindering raid in Ireland

The European Union on Friday accused Temu of failing to hand over information during an inspection as part of a probe into the Chinese-owned online retailer. The EU's powerful antitrust sheriff said it carried out surprise raids between December 2 and 5, 2025, seeking evidence in an investigation looking at whether Temu received "potentially...

Member

Business

El Corte Inglés drives Sfera's internationalisation with 28 new stores outside Spain

Madrid – Following its last Annual General Meeting exactly one week ago, the management of El Corte Inglés has now published the financial and non-financial reports for its 2025 financial year. The period ended on February 28, during which the company quietly continued to give a special international boost to Sfera, its fashion and accessories...

Member

Business

Frasers extends Hugo Boss takeover offer after limited shareholder support

British retail giant Frasers Group has extended the acceptance period for its 2.3 billion pound takeover offer for Hugo Boss after securing backing from just 7.3 percent of independent shareholders by the initial deadline. The retailer's 38 euro-per-share cash offer, which values the stake Frasers does not already hold in the business at 1.7...

FeaturedMember

Business

US fashion industry poised for sourcing consolidation and AI integration, study finds

The US fashion industry is facing another year of uncertainty. From the IEEPA tariffs that were ruled unconstitutional by the Supreme Court to the expiring Section 122 tariffs that took their place to the new 301 and 232 tariffs – tariffs remain a top concern for US fashion businesses from brands and retailers to importers. The United States...

Member

Business

Gordon Brothers submits bid for Harvey Nichols as sale process continues

Gordon Brothers, the US investment firm behind retailers including Laura Ashley and the owner of Poundland, has submitted a bid to acquire luxury department store Harvey Nichols, according to a report by Sky News. The offer was reportedly submitted ahead of this week's bidding deadline, with a further deadline now set for next week as owner Sir...

Member

Business

Puma reports further revenue decline, remains in the red

Corporate restructuring and weaker demand linked to the Middle East conflict have impacted the sportswear manufacturer Puma's sales in the second quarter. Revenue fell by almost ten percent to nearly 1.7 billion euros (1.96 billion dollars), the company announced on Friday in Herzogenaurach. The wholesale business in the American and European...

Member

Business

Aeffe: binding offer of 115 million euros for relaunch and safeguarding of jobs

A new meeting on the Aeffe dispute was held yesterday in Rome at Mimit. During the meeting, it was announced that the Ferretti family, the group's current owner, has submitted a binding offer for the company's relaunch. The offer was made together with Invitalia, the Oxy Fund and a Chinese industrial partner. The transaction, valued at...

Member

Business

PETA secures stake in Reformation to up pressure on animal-made products

Animal welfare organisation People for the Ethical Treatment of Animals (PETA) said it has purchased stock in Reformation after the US womenswear brand debuted on the New York Stock Exchange yesterday. While the size of the stake was not disclosed, PETA confirmed it was enough to allow it to attend annual meetings where it plans to pressure...

Member

Business

Inditex-backed Epoch Biodesign acquires Spanish plant to scale recycled nylon production

Madrid – London-based biotechnology start-up Epoch Biodesign has announced the acquisition of the former Domo Polymer nylon 6,6 polymerisation plant in Blanes, Gerona. The company specialises in the enzymatic biorecycling of pre- and post-consumer textiles. The acquisition has been described as a “fundamental step” towards its goal of moving to...

Member

Business

Trademark law in China: Why Louis Vuitton won against Molly Tea

Louis Vuitton, owned by the LVMH group, has won a lawsuit against Molly Tea, a Chinese bubble tea chain founded in Shenzhen in 2021. The dispute concerned Molly Tea's logo, a stylised four-petal flower. The Suzhou Intermediate People's Court in Jiangsu province, China, affirmed that the logo infringed upon seven of Louis Vuitton's registered...

Member

Business

Puig profits fall by 4.4 percent in the first half of 2026

Madrid – On Thursday, July 30, 2026, at market close, the Spanish fashion and beauty multinational Puig reported its results for the first half of its 2026 fiscal year. The group owns fashion houses such as Jean Paul Gaultier, Paco Rabanne, Carolina Herrera and Byredo. The period, which ended on June 30, saw the company achieve low single-digit...

Member

Business

Amazon Q2 net sales jump 20 percent as cloud and retail surge

US e-commerce and technology conglomerate Amazon.com, Inc. (Amazon) announced its financial results for the second quarter ended June 30, 2026. Net sales for the Seattle-based group increased 20 percent to 200.60 billion dollars, compared with 167.70 billion dollars in the second quarter of 2025. Foreign exchange rates provided a favorable...