Latest Articles in Business

EUIPO works to facilitate intellectual property-backed financing

European companies whose value increasingly depends on intellectual property and other intangible assets could benefit from improved access to finance. This follows work by the European Union Intellectual Property Office (EUIPO) on intellectual property-backed financing. The EUIPO is responsible for managing EU trademarks, registered EU designs...

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Castore acquires majority stake in shoe and bootmaker Grenson

British sportswear brand Castore, founded by Tom and Phil Beahon, has acquired a controlling stake in heritage shoemaker Grenson, which has been making footwear in Northamptonshire, England, since 1866. According to Grenson’s Companies House filings, J Carter Sporting Club Limited, the parent company of Castore, has acquired a 75 percent stake...

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Spanish footwear industry lost over 1,100 companies since 2020: AEC calls for urgent action plan

Elche (Alicante) - Five weeks after Fice and the Spanish Association of Component Companies for Footwear and Leather Goods (AEC) met with the minister of industry and tourism, Jordi Hereu, to present a sectoral competitiveness plan, the AEC is raising the alarm. It highlights the critical situation facing the sector, which is experiencing a...

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China imposes export controls on ten US companies

Beijing - China imposed export controls on ten US companies, including some from the defence and rare earth mining sectors, Beijing reported on Monday. It also banned dozens of US companies from participating in public procurement, in response to a Washington blacklist of Chinese firms. The measures were adopted one month after US president...

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Growing problem with criminal customers in e-commerce

E-commerce worldwide is suffering from a growing number of fraudulent customers. According to an analysis by US cybersecurity service provider LexisNexis Risk Solutions, both the economic downturn and organised crime contribute to this. International gangs are reportedly targeting and recruiting people to commit online shopping fraud or provide...

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Reformation reportedly preparing for IPO filing

LA-based womenswear brand Reformation is believed to be preparing to confidentially file an initial public offering (IPO) in the coming week, with plans to potentially go public in July, according to the Wall Street Journal. Reports suggest that the company has been mulling an IPO for years, with rumours of such discussions spanning as far back...

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EssilorLuxottica heir reportedly seeking larger stake in family holding company

Leonardo Maria Del Vecchio, an heir to Ray-Ban parent company EssilorLuxottica, is believed to be seeking expanded influence over the eyewear conglomerate's holding company as the future of the empire's ownership structure comes into question. According to Reuters, the 31-year-old executive, who serves as chief strategy officer at...

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Reju joins Recycling Europe’s textile branch

Reju has joined Recycling Europe as the organisation’s newest partner. The textile-to-textile recycling firm is now part of the Recycling Europe Textiles branch, underlining what it says is a commitment to advancing textile circularity and supporting recycled materials markets. In a statement, Reju’s chief executive officer, Patrik Frisk, said:...

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US-Iran talks delayed as fashion industry watches Hormuz shipping developments

Plans for a new round of US-Iran talks have been postponed after US vice president JD Vance delayed a scheduled visit to Switzerland, slowing progress on the implementation of a recently signed ceasefire agreement. The talks were due to focus on the next phase of a 14-point memorandum of understanding (MoU) agreed earlier this week, which...

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Drake’s OVO label faces lawsuit, Authentic reportedly eyeing stake acquisition

October’s Very Own (OVO), the lifestyle and apparel label co-founded by rapper Drake, is facing a lawsuit over allegations of partial debt repayments and contractual breaches. The claims have been made by A.R.I. OVO Growth Capital, which said despite previous attempts to resolve legal issues, it now sought to enforce its rights and protect...

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Quiz to shutter all remaining stores over the weekend

After an extended period of uncertainty, it appears that Quiz is finally closing its entire retail network. According to Drapers, the fashion retailer will be shutting its remaining 20 stores by the end of June 20. The media outlet said the closures will impact Quiz’s locations in Merry Hill, Sheffield, Derby, Newtownabbey, Stirling, Portsmouth,...

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Switzerland: watch exports almost stable in May

Zurich - Swiss watch exports remained almost stable in May, recording a modest increase of 0.4 percent to 2.1 billion Swiss francs, amid a sharp decline in China, the watch federation announced on Thursday. This stabilisation, however, helps “to mitigate the cumulative decline observed over the first five months of the year,” the federation...