Latest Articles in Business

European textile federations urge 10 euro handling fee on small parcels

Europe's leading textile federations called on the European Commission on Tuesday to set at 10 euros per parcel the handling fee it plans to introduce on small parcels arriving largely from China, according to news agency Agence France-Presse (AFP). The demand, made at the Première Vision trade fair in Paris, comes as the European Union tightens...

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What took so long? Inside Victoria Beckham's long road to profitability

Victoria Beckham Holdings Ltd reported an operating profit for the first time since it was created in 2008, the company announced on Monday. It rose 15 percent to 129.8 million pounds (175.7 million dollars) in the year to the end of December, marking the fifth consecutive year of double-digit revenue growth. It also posted a pre-tax profit of...

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How five German cities are fighting to save their Galeria stores

Mayors of five Bavarian cities are appealing to the state government to help save local branches of struggling department store chain Galeria from closure, according to German press agency dpa. A position paper from the cities of Aschaffenburg, Würzburg, Bayreuth, Memmingen and Munich states that the government must "clearly represent" the...

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Zara France's 1.9 billion euro turnover signals an increasingly polarised fashion market

Inditex's French subsidiary generated a turnover of 1.91 billion euros for the financial year ending late January 2026 (+0.9 percent). This is a seemingly modest increase. However, it contrasts sharply with the overall decline in the French apparel sector. Zara France is not accelerating, but it is not declining either. For the financial year...

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Aeffe net debt steady at 112.6 million euros as rescue deal takes shape

Italian fashion group Aeffe, owner of Moschino and Alberta Ferretti, ended July with net debt of 112.61 million euros, barely moved from 112.37 million euros a month earlier, as it works to negotiate its way out of a financial crisis. Of that total, 96.37 million euros is short-term borrowing against 29.06 million euros of medium- to long-term...

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Woolrich closes Bologna office; 78 redundancies announced

Woolrich is closing its Bologna office in Northern Italy, resulting in 78 redundancies. According to the local newspaper 'Il Resto del Carlino', the final day of operations for the historic company's Bologna headquarters was yesterday August 31. The company was acquired last December by the Turin-based group BasicNet, which has decided to...

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Designer Jonathan Riss sues Prada for five million dollars over "abandoned" project

A project named "Prada Strada", a collaboration between Prada and Belgian designer Jonathan Riss, has ended in a legal dispute. The project was intended to customise a fleet of Rolls-Royce cars for a global event tour. The project, however, failed to launch and Riss has now brought Prada and three of its top executives into a contractual dispute...

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Kering strengthens jewelry division with key leadership appointments

Kering has not waited long to put a face to its new jewellery organisation. A few months after creating Kering Jewelry, the group has appointed Charlotte Fournet as managing director of Pomellato and Krizia Cucurachi as managing director of DoDo. The two executives will take up their positions on September 15 and will report directly to...

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Shein IPO: why has the ultra-fast fashion leader accepted a 75 percent discount?

The traditional gong of the Hong Kong Stock Exchange sounded this Tuesday morning for a company that would have undoubtedly preferred a different tune. Shein debuted with a valuation of approximately 26.5 billion dollars, before its stock fell by almost 10 percent within the first few hours of trading. In 2022, private investors had valued the...

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Frasers aims to secure over 50 percent stake in Hugo Boss

UK retail group Frasers Group has moved closer to taking majority control of Hugo Boss after its voluntary public takeover offer boosted its direct shareholding in the German tailoring label to 47.89 percent. Following the expiry of the acceptance period for the offer, Frasers confirmed its holding now stands at 33,054,959 ordinary shares. The...

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Shein shares drop 10 percent in Hong Kong debut

Chinese-founded e-commerce retailer Shein made its share trading debut in Hong Kong on Tuesday, capping a years-long effort to tap capital markets following failed attempts to list in New York and London. Share prices tumbled about 10 percent in early Hong Kong trading before paring losses to trade down 4 percent by lunchtime, last trading at...

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France takes aim at ultra-fast fashion with new levy

France will from Tuesday impose a fee on ultra-fast fashion items that will eventually reach almost 20 euros per garment, as the government targets major Asian e-commerce platforms including Shein. The levy follows legislation passed by the French parliament in June to regulate so-called "ultra-fast fashion" companies, known for selling large...