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Richemont achieves 22.4 billion euros in sales amidst geopolitical shifts

Compagnie Financière Richemont, the Swiss luxury goods group, delivered a solid performance for the financial year ended March 31, 2026, navigating fast-evolving geopolitical and macroeconomic conditions. Group sales reached 22.42 billion euros (26.04 billion dollars), representing an increase of 11 percent at constant exchange rates and 5...

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Hoka and Ugg drive Deckers Brands to 5.47 billion dollars in FY26 net sales

US footwear group Deckers Brands has announced its financial results for the fourth fiscal quarter and full fiscal year ended March 31, 2026, delivering record revenue driven by the ongoing momentum of Hoka and Ugg. For the full fiscal year 2026, net sales increased 9.8 percent to 5.47 billion dollars compared to 4.99 billion dollars in the...

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Ponda co-founder Julian Ellis-Brown talks wetland regeneration, BioPuff growth and fashion industry adoption

As fashion continues to search for lower-impact material alternatives, scaling innovations beyond niche applications remains a significant challenge. For UK startup Ponda, the answer lies not only in developing a new insulation material, but in rethinking the agricultural systems behind them. Founded around the concept of paludiculture, Ponda...

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Walmart performs better than expected, but consumer is under pressure

New York - American retail giant Walmart published a higher-than-expected turnover on Thursday for its first quarter, which runs from February to April. Its executives warned that American consumers were being constrained by the return of inflation. Turnover reached 177.8 billion dollars, an increase of 7 percent compared to the same period last...

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Ralph Lauren surpasses 8 billion dollars in annual revenue

Ralph Lauren Corporation, the US-based luxury lifestyle group, has reported its financial results for the fourth quarter and full fiscal year 2026, delivering performance that exceeded market expectations. The company crossed a significant financial milestone as annual revenues surpassed 8 billion dollars for the first time in its history. For...

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Kontoor strikes one billion dollar deal to sell Lee to Authentic Brands Group

US denim specialist Lee Jeans is set to change hands. Parent company Kontoor Brands has confirmed it has signed an agreement with Authentic Brands Group to sell the business for up to one billion dollars. The definitive deal, which has been approved by Kontoor’s board of directors, includes an initial transaction value of 750 million dollars and...

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Primark, H&M and Zalando join industry push for resale and repair tax reform

Major fashion retailers including Primark, H&M Group and Zalando are calling on governments to introduce tax reforms aimed at making resale and repair more commercially available. The move comes as nearly 70 fashion and textile organisations signed a joint statement coordinated by the Ellen MacArthur Foundation, warning that current tax systems...

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West Marine files for bankruptcy, Rocky Brands and Luxottica among top creditors

The bankruptcy filing of US boating retailer West Marine, which recently sought Chapter 11 protection, has implicated several apparel companies. Rocky Brands, Kent Water Sports LLC, and Luxottica of America are listed among the retailer's top 30 unsecured creditors. Other brands sold by West Marine, such as Sperry, are reported to be less...

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French upcycler Losanje receives 6.7 million euro capital injection

French company Losanje, which specialises in textile upcycling, has secured a capital injection of 6.7 million euros (7.79 million dollars). Upcycling involves reusing existing materials to create a new product, such as making a bag from a pair of jeans. This process increases the value of the residual product, turning textile waste into a...

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Business|Updated

Net-a-Porter facing strike action from London warehouse staff

Luxury e-tailer Net-a-Porter is facing a strike from 100 workers at its distribution centre in London. Deliveries are expected to be “savaged” due to the industrial action. The warehouse currently remains in operation, the company confirmed. The walk out, which was expected to take place between May 20 and 21, comes in response to the company’s...

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Dior: Delphine Arnault champions price caution to win back clientele

Delphine Arnault, chief executive officer of Dior, has announced a reassessment of the house's pricing policy for certain products, reports the Financial Times. The announcement was made at the Business of Luxury conference, organised by the British newspaper and held on Monday in Puglia. The head of the LVMH group's second-largest brand by...

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Marquee Brands signs agreement with Damac Group to acquire majority stake in Roberto Cavalli

Marquee Brands has announced a definitive agreement to acquire a majority stake in Roberto Cavalli, through a strategic partnership with the Dubai-based Damac Group. Closing of the transaction is expected in the second quarter of 2026 The transaction is expected to close in the second quarter of 2026, after which Damac Group will “remain a...