Inditex has agreed to invest approximately 6.5 million euros between 2026 and 2028 in a new partnership with Conservation International to support the protection of the Amazon rainforest, the company announced on Monday. The three-year initiative will fund the establishment of new protected areas and strengthen management of existing ones across six countries: Brazil, Bolivia, Colombia, Ecuador, Peru and Suriname.

The partnership is expected to contribute to the protection of more than two million hectares of rainforest, including the Cué-Cué and Marabitanas Indigenous Lands in Brazil, the Achuar Nation territory in Ecuador, the Santos Mercado, Gran Manupare and Alto Beni protected areas in Bolivia, and the Camaritagua and Curare-Los Ingleses Indigenous Reserves in Colombia, along with additional initiatives in Peru and Suriname.

Critical threshold

The announcement comes as scientists warn the Amazon is approaching a critical threshold. According to the brand's statement, roughly 15 percent of the biome has already been deforested, and researchers estimate that deforestation reaching 20-25 percent could trigger an irreversible tipping point with global consequences for climate and biodiversity. The forest holds carbon reserves that, if released, would equal 15 to 20 years of current global CO₂ emissions, and it is home to nearly 13 percent of all known species on Earth.

"The Amazon is the largest and most important tropical rainforest on Earth. It stores enormous amounts of carbon, helping to limit global warming; it is one of the most biodiverse ecosystems on the planet, home to millions of people and a source of freshwater for millions more," said Sebastian Troëng, CEO of Conservation International. "This collaboration will help demonstrate what is possible when we come together in pursuit of a shared goal: conserving nature for people. Together with Indigenous Peoples and local communities, who steward more than 25 percent of this biome, we hope to protect more of this tropical rainforest and help secure a healthy future both for the communities that depend on it and for global well-being."

Óscar García Maceiras, CEO of Inditex, framed the investment as part of the company's broader environmental commitments. "Taking part in this project alongside Conservation International means contributing to the protection of a territory of enormous importance for biodiversity and for the communities that depend on it," he said. "Protecting biodiversity is essential to maintaining the balance of ecosystems and addressing the challenges posed by climate change."

The Amazon commitment builds on an existing relationship between the two organizations. Inditex and Conservation International previously worked together on the Mountains to Mangroves project, developing conservation and restoration strategies for the Eastern Himalayas across Bangladesh, Bhutan and Nepal. In 2023, Inditex also joined the Regenerative Fund for Nature, committing 15 million euros to regenerative agriculture and livestock practices.

Funding for the new Amazon initiative comes from charges Inditex has applied to paper shopping bags and envelopes in its stores since 2021, a policy introduced to encourage reusable alternatives. The company said the project complements other environmental work, including sanitation improvements in Southeast Asia with Water.org and ecosystem restoration efforts with WWF across Europe, Asia, Africa and Latin America.

Inditex is the parent company of Zara, Pull&Bear, Massimo Dutti, Bershka and Lefties, among others.

Contemporary womenswear brand Never Fully Dressed, founded by Lucy Aylen in 2009, has sold a stake in the business to London-based private equity and venture capital firm Refined Capital Partners.

Never Fully Dressed said in a statement that Refined Capital Partners' investment in the company marks a “new chapter” for the womenswear brand, “bringing long-term investment and strategic support,” to help the brand continue to grow.

Refined Capital Partners specialises in providing growth capital to consumer brands and retail technology companies, and recently invested 4.75 million pounds in British luxury womenswear brand The Fold London in May to accelerate its growth, and acquired a minority stake in fashion and lifestyle brand Disturbia in February to support its expansion in the US. It also owns stakes in Celtic & Co, Frugi, Kettlewell Colours, and recycled cashmere specialist Turtle Doves.

While Never Fully Dressed confirmed the investment, the financial terms and exact size of the stake were not disclosed, just that the move “invests in the future of Never Fully Dressed and our continued commitment to do better for our people and planet”.

“The things that matter most to us aren't changing,” said Never Fully Dressed in the statement. “We're still the same female-founded brand, led by the same leadership team, designing every print in-house with the same passion, creativity and attention to detail. We'll continue creating versatile, feel-good pieces that empower everybody to feel their best, while nurturing the inclusive, supportive community that's always been at the heart of who we are.”

A majority (85 percent) of global consumers believes that cotton is safe for the environment according to a survey by US non-profit organisation Cotton Incorporated. This is the highest percentage of any natural fibre, closely followed by wool (81 percent), as well as silk (76 percent) and hemp (69 percent).

Since 2017, the research company has been surveying close to 29,000 consumers in China, Germany, India, Italy, Mexico, the UK and the US annually. The latest data revealed that man-made fibres like rayon/viscose, Lycra/spandex, polyester and nylon were each considered safe for the environment by only 43 percent of respondents.

Microplastic awareness on the rise

Awareness of microplastic waste in the oceans remains steady at 45 percent, an increase by 18 percent compared to 27 percent in 2017. This means that most consumers accurately identify synthetic fibres such as polyester (62 percent), nylon (59 percent), and Lycra/spandex (55 percent) as containing microplastics. By country, awareness of microplastic waste was highest in India (56 percent) followed by China (47 percent) and Germany (46 percent), then Italy and the UK (44 percent), the US (41 percent) and Mexico (39 percent).

“The global Plastic Free July movement provides an important opportunity to highlight consumers’ growing awareness of cotton’s environmental benefits. The vast majority of respondents correctly identified cotton as a safe choice for the environment, while awareness around microplastic pollution in our oceans has risen significantly since 2017,” confirmed Andrea Samber, director of brand partnerships for Cotton Incorporated, in a statement.

Consumers ready to act more sustainably

The survey also found that a majority (84 percent) of respondents are motivated to take sustainable actions and for 70 percent, sustainability continues to influence their purchase decisions when shopping for clothes.

“They look to material, sustainable practices such as recycling and price to determine whether an item is sustainable. Most consumers (60 percent) say they are likely to pay more for sustainable clothing, especially Gen Z and Millennials,” finds the survey.

Recycling programme collects 8 tonnes of cotton

The Cotton Lives On recycling program was established in 2022 by Cotton Incorporated and the Cotton Council International to reduce textile waste and repurpose old cotton garments. Currently, they are transformed into mattresses for people at risk of homelessness. To date, the programme has collected approximately 8,000 kilograms of cotton in the UK and provided over 100 roll mats, each one containing the equivalent to 45 cotton T-shirts.

The programme works with UK fashion brands and retailers such as Anthropologie, Bianca Saunders, Charles Tyrwhitt, Hush, Margaret Howell, Whistles and others. “Responsible management of all textile waste remains essential. Through the Cotton Lives On recycling programme, we encourage brands to recycle old cotton products, helping to keep valuable natural fibres out of landfill,” emphasises Samber.

Swatch Group reported a net profit for the first half that was below expectations on Tuesday. The company hopes for “a significant improvement in profitability in the second half” thanks to an acceleration in sales observed since May.

For the period from January to June, the Swiss watchmaker reported a net profit of 16 million Swiss francs. This represents a decrease of 5.8 percent compared to the first half of last year. However, the company unveiled a better-than-expected turnover, up 2 percent to 3.1 billion francs, it stated in a press release.

Excluding currency effects, its sales increased by 8.5 percent, it added.

By comparison, analysts surveyed by the Swiss agency AWP had expected an average profit of 95 million on a turnover of three billion francs.

Profit weighed down by production despite solid sales

The group owns several watch brands, including Tissot, Longines and Omega, and also sells watch components like dials and hands. It attributed the decline in its profit to its production activities. The company also highlighted the “robust momentum” of its watch brand sales across “all price segments”.

“The acceleration seen in May and June, and confirmed in July, allows for better utilisation of production capacity and will lead to a significant improvement in profitability in the second half,” it affirmed in the press release.

In May, its Swatch brand generated significant buzz with its Royal Pop model, a watch created in partnership with the prestigious brand Audemars Piguet. This led to long queues outside its boutiques. The situation escalated to the point that police intervention was required to disperse crowds in front of around 20 stores.

Growth driven by US and China

During the half-year, its watch and jewellery sales climbed by 27 percent in the US, the group detailed. In China, Hong Kong and Macao, a key market for the Swiss group, sales grew by 9 percent in its own boutiques. Restocking orders from third-party retailers “remained modest, however,” it specified.

UK retail conglomerate Frasers Group (Frasers) has acquired a further 2.55 million shares in German fashion house Hugo Boss, bringing its total shareholding to 30.28 percent. With this move, the company has officially crossed the 30 percent mandatory bid threshold outlined in the German Takeover Code.

The additional 2,549,900 ordinary registered shares, representing approximately 3.69 percent of the share capital and voting rights in Hugo Boss, were acquired following the exercise of put options by relevant counterparties on July 17, 2026. Frasers now holds an aggregate total of 20,897,361 shares, excluding any additional shares tendered into its voluntary public takeover offer.

Cash offer remains open as deadline approaches

Frasers originally launched its voluntary public cash takeover offer for the Metzingen-based luxury brand on June 10, 2026, offering 38 euros per share. On June 25, 2026, Frasers confirmed that the offer price of 38 euros per share was final and would not be increased during the acceptance periods.

The initial acceptance period for the offer is set to close on July 27, 2026, at 12pm midnight CEST.

The board and supervisory board of Hugo Boss previously recommended that shareholders reject the offer, stating that the price fails to reflect the intrinsic value and long-term potential of the business. However, Frasers continues to invite shareholders to accept the terms, maintaining its commitment as a strategic investor.

International acquisition drive shapes group outlook

The acquisition of additional shares in Hugo Boss forms part of a broader global expansion strategy by Frasers. Alongside its bid for the German brand, the group launched an on-market takeover offer of 0.65 Australian dollars per share for Australian footwear retailer Accent Group, in which it holds a 22.9 percent stake.

Owing to the ongoing nature of both public takeover offers, the board of Frasers recently withheld financial guidance for the financial year 2027, stating that potential acceptances could yield a variety of corporate outcomes. The company reported group revenues of 5.33 billion pounds for the 52 weeks ended April 26, 2026, supported by a 59.2 percent surge in international sales.

US apparel and e-commerce firm Digital Brands Group (DBGI) has announced a dual growth strategy designed to expand near-term scale and maximize shareholder value. The initiative features a strategic board appointment alongside an aggressive expansion of its collegiate licensing program under the Avo brand.

E-commerce growth veteran David Sosnowski has joined the board of directors of DBGI. Sosnowski brings digital commerce execution experience to the leadership team, having previously served as chief digital officer of US activewear brand Vuori. During that tenure, Sosnowski architected digital infrastructure that supported annual revenue growth over five years.

Avo brand scales across university partnerships

Synchronized with consumer demand ahead of the upcoming college football season, the Avo brand has expanded its collegiate licensing program from a single campus pilot to 22 active university partnerships. The expanded partnership roster features athletic programs including the University of Georgia, University of Mississippi, Clemson University, Louisiana State University, Indiana University, Mississippi State University, and Texas A&M University.

To ensure fulfillment and execution across all university and customer touchpoints, DBGI has imposed a hard cap on the program at a maximum of 30 universities for the current season. The company is finalizing agreements with the remaining eight targeted universities to reach maximum capacity.

“We are executing a highly aggressive, high-margin expansion strategy that fundamentally shifts our revenue profile,” said Hil Davis, chief executive officer of DBGI. “David Sosnowski’s track record of scaling digital brands into multi-billion-dollar powerhouses matches perfectly with our infrastructure. Simultaneously, scaling our Avo collegiate program to 22 premier universities positions us directly inside a massive consumer market right at the start of football season.”

Madrid – During the last edition of Gran Canaria Swim Week (GCSW), held on the island of Gran Canaria from June 24 to 27, FashionUnited had the opportunity for our traditional “tête-à-tête” with Minerva Alonso. Alonso is the minister for Economic Development of the Cabildo de Gran Canaria and the main political and organisational head of the event. She highlights that with each new edition, the platform serves to both promote and consolidate the island as a specialised swimwear hub.

This commemorative edition marked the event's 30th anniversary. It was particularly notable for its historic date change within the calendar. In conversation with Alonso, topics discussed included the GCSW's move from October to June, the strategies being implemented to strengthen the event as “the only swimwear fashion show in Europe” and the broader swimwear industry ecosystem on the island.

These ambitions are supported by investments from the Cabildo de Gran Canaria through its textile industry support programme, Gran Canaria Moda Cálida. They are also backed by various alliances and collaboration agreements with international associations. Key agreements include those with entities that, like GCSW, are part of the European Fashion Alliance. This includes Bucharest Fashion Week and the British Fashion Council (BFC), with whom GCSW made “initial contact” during this 2026 edition.

What is your perspective of this commemorative edition of GCSW and the many new changes you have continued to introduce to the event?

Well, actually, they are all part of the internationalisation plan we started implementing a few years ago. This plan has ultimately created the Swimwear Fashion Week we have today. This marks its 18th edition.

However, it is an event that has celebrated its 30th anniversary this year.

That's right. It all started as a very local event on the island, aimed at supporting small fashion workshops in Gran Canaria. It has since evolved into this professional, international, and specialised swimwear event. It is an event not only visited by brands from other places, but one from which we also maintain a close relationship with various European Fashion Councils through the European Fashion Alliance.

We must also mention the specialised, international, and national media who come to follow the event closely. Considering all this, the GCSW team is very pleased with the results, not just of this edition, but of every Gran Canaria Swimwear Fashion Week we have promoted in recent years. With each edition, we take another step towards establishing ourselves as an island specialising in swimwear.

As part of this commitment, this year, 2026, we have seen a profound change with the rescheduling of the event. Is this date adjustment going to be permanent for future editions?

The new dates are now fixed. They are fixed because we have positioned the event at the ideal time of year to coordinate with the international trade fair White Milano, with whom we have a close collaboration and whose next edition is scheduled for September. This also aligns us with Momad, whose new edition starts this July in Madrid, and with the Paris exhibition calendar.

We can say that we are now in place and will not be moving after making this date change. I would like to stress that this change was not a unilateral decision by the Cabildo. It was agreed upon based on external advice from international and national industry agents, especially from the Asociación Creadores de Moda de España and a major Spanish fashion production agency like ESMA.

Another important change for the event's image, though less structural, was moving the outdoor shows this year. For the first time since their return in 2024, they moved from Pasito Blanco to Perchel Beach Club. How do you envision this strategy continuing in future editions?

We always evaluate different options for outdoor activations. As you said, we held the shows at Pasito Blanco for two years. This year, we held them at Perchel for the first time. After this edition concludes, we will assess how they went at this location and whether we will, and can, repeat a second edition there, or if another alternative arises.

The important thing is that we will continue to open the Swimwear Fashion Week with an outdoor event. We do this because we have, and want to convey, the values of this island, which define us and stem from our environment.

“With each edition, we take another step towards establishing ourselves as an island specialising in swimwear.”

This hasn't been officially announced, but it seems the event is also changing its communication strategy. For instance, it appears you are trying to attract more “micro-influencers” for visibility, while using more professional profiles as the “face” of each edition.

That's right. We are focusing on that strategy and, as you say, on professionalisation. We are welcoming models who walk in international shows and feature in publications, not just magazines, but essentially in highly specialised fashion media. Continuing along this line of communication and image is what gives us more credibility with the fashion industry audience that truly interests us.

The event continues to be presented as the only one in Europe specialising in swimwear. However, every year we see a growing number of platforms in the same sector that seem to be trying to establish themselves, such as “Ibiza Swim Week”, which held its third edition this June. Could this pose a risk to the goal of continuing to promote the island as a specialised swimwear hub?

I haven't had the chance to engage with that event. In any case, GCSW remains the only specialised swimwear fashion show in Europe that belongs to the European Fashion Alliance. It is therefore the only one recognised as such, and the only one through which we collaborate with the Asociación de Creadores de Moda de España and the other organisations in our coalition.

Regardless, if that is their goal, I think it's great that a region supports its craftsmanship and fashion. This is what the Cabildo has been doing for 30 years with the Gran Canaria Moda Cálida programme. I believe this is an initiative that other regions, not just in Spain but across Europe, should try to replicate.

In recent months, I have had the opportunity to give talks in Berlin and Barcelona. In both, I highlighted how the Cabildo de Gran Canaria is the only public institution with a fashion promotion programme of this kind. Through this programme, we not only organise this fashion show but also have various lines of work aimed at the fashion sector. In total, we are allocating over three million euros to these initiatives this year.

Now that we are talking about figures, what return do you estimate these investments are generating?

Regarding the fashion show, we have been analysing the economic impact of the Swimwear Fashion Week over the last three years, and it is around 6.2 to 6.3 million euros. However, in the last edition, 2025, for example, we soared to 10.3 million euros.

Looking beyond the fashion show itself, how are these investments affecting the swimwear industry ecosystem in Gran Canaria?

The Cabildo de Gran Canaria does not have that data because we lack the statistical analysis tools to obtain it. This does not mean we cannot conduct a one-off study on the sector. However, this statistical tracking should be carried out by the Government of the Canary Islands through ISTAC, the Canary Islands Statistics Institute. ISTAC is responsible for conducting statistical studies on the economic sectors of the islands, such as textiles, for which we have not had data since 2023.

So, from the Cabildo de Gran Canaria's side, what are the latest indicators you have on the island's swimwear industry and its evolution?

Although we don't have detailed information, the last study we conducted on self-employment on the island did show that self-employment in the textile sector increased by +70 percent between 2019 and 2023. This data is relatively old, and of course, it would be good to have the next set, from 2023 to 2026.

It means that many people are registering as self-employed in the sector. They are doing so because they can make a living from it, which is also evident from the data from the various public calls we organise. This is a very positive aspect for the Cabildo. This trend and reality are reflected in the policies we are developing and in how we are allocating the nearly 3.2 million euros dedicated to the textile sector.

“GCSW remains the only specialised swimwear fashion show in Europe.”

So, what are these funds being allocated to?

As I mentioned, they are not just for this Swimwear Fashion Week. They also go towards our subsidy lines for emerging companies and for established businesses to support machinery acquisition and cover running costs. We also finance a training scholarship programme. This programme helps final-year students, from both university degrees and vocational training courses, to work in the island's workshops of companies participating in the Gran Canaria Moda Cálida programme.

In addition, we have training programmes in educational centres for both students and teachers, and we finance the internationalisation plan developed with the Gran Canaria Chamber of Commerce.

How would you say this initiative is helping to boost the visibility of the island's swimwear beyond its natural borders?

All the achievements we have made in this regard, both in terms of international visibility and especially in our relationships with other European Fashion Weeks and Fashion Councils, have been through this internationalisation plan.

At the beginning of the interview, you mentioned that GCSW originated from a non-specialised initiative, as a support platform for the island's general fashion sector. How do you support that sector now?

For that, as part of our investment programme and lines of work, we have two of our own events per year. These allow companies, especially the more established ones, to gain visibility, present their collections, market them, and even hold their own shows. These are two independent platforms; one is related to ceremonial wear, and the other to general fashion and craftsmanship.

In addition to these platforms, there is also the GCSW commercial showroom for buyers, which seems to have had some new developments for what was its third edition.

Yes, this year we changed the commercial showroom, and it wasn't run as it had been for the last two years. It wasn't working as we wanted. Based on the errors and difficulties we had identified, we made a change.

Instead of having the usual physical space and telling buyers they could visit during certain hours, we replaced it with a welcome programme. This was supported by personalised agendas and pre-scheduled appointments between buyers and the heads of brands that had sparked their interest. Through these appointments, we encouraged buyers to get to know the product and the brand in a much more personal way.

“The date change was made to encourage sales agreements to be closed during the Swimwear Fashion Week.”

And how did this change turn out?

The report has not yet been made public. However, commercial contacts were established between various brands and different buyers who attended this edition of GCSW, and these contacts have resulted in sales.

Well, that was precisely the main objective of this date change, wasn't it?

Of course. Ultimately, the date change was made precisely to make that happen, to allow sales agreements to be closed during the Swimwear Fashion Week. The industry itself told us clearly that if the dates weren't changed, neither specialised media nor buyers would come.

That is exactly what Melanie Bauer from the German agency Melagence told me during the 2025 edition, just a few days before the date change was announced. This shows that you certainly maintain a proactive stance when it comes to listening to feedback.

I don't see it any other way. You have to remember that we, as the Cabildo, are an island institution, a public body like a town council, and we don't have fashion experts.

So what do we do? We listen to the sector, to the people who are in it day-to-day. We evaluate our policies based on feedback from companies, professional and industry associations, and other institutions we collaborate with, such as the Fashion Councils or the Chamber of Commerce. Based on that work, we introduce changes and also reinforce the points that are proving to be positive and successful.

You point to the alliances and relationships you have with industry organisations like Fashion Council Germany or Copenhagen Fashion Week. How would you say these alliances are contributing to strengthening both GCSW and the goal of reinforcing Gran Canaria as a key island for the swimwear sector?

Firstly, international alliances give us credibility. Additionally, with Fashion Council Germany and its CEO, Scott Lipinski, for example, we have an international advisory relationship where they guide us on how, where, and in what way to present ourselves and occupy a space within the sector. This has been very positive for the image of Gran Canaria, for the image of the Swimwear Fashion Week, and it has influenced the message we are conveying internationally.

Is it also positive for the fashion brands from the island?

Without a doubt. For example, thanks to these contacts, Pedro Palmas is going to Lisbon Fashion Week, and we are already looking into the possibility of Carmen González, from the lingerie brand Gonzales, going to Berlin. These are positive alliances, and we continue to work on them. In fact, this edition saw the first-time attendance of representatives from Bucharest Fashion Week and the British Fashion Council, with whom we are beginning to establish contact.

This is similar to the relationships we have maintained for years with Denmark and Copenhagen Fashion Week, or with the White Milano trade fair, with whom we work in a very coordinated manner. Therefore, the goal is to continue working in this direction to further establish this island as a swimwear destination.

“We want to create a project that originates from the schools and helps to encourage the continued creation of swimwear companies on the island of Gran Canaria.”

And what about the alliance with the Council of Fashion Designers of America (CFDA)? Has there been any change since the last edition regarding the “on pause” situation for initiatives from both sides?

The situation remains the same. However, the American Designers Council knows that if an American brand is interested in showing here, just as American designer Dan Ward continues to do, we are open to listening to and considering any proposal they present.

We have not lost contact or communication. It is true, however, that we continue with investments and strategies in the US on hold, because at a time like this, it would not make sense to do otherwise.

Returning to the point about this initial contact with Bucharest and the BFC, what expectations and forecasts did you have when you began to build these emerging alliances?

As you say, what we have had now is an initial contact. We invited them to come here, to experience our Swimwear Fashion Week, and to learn about the resources it offers, who we are, what we do, why we do it, and what our objectives are.

During the meetings with their representatives, they also explained what they do and their priorities. We have now given ourselves the time between the end of the event and after the summer for our teams to start working on forms of collaboration.

So these are not formalised alliances, like the ones established with Germany, Denmark, or the CFDA?

No, no collaboration or alliance has been formalised. What we have had is an initial contact, just as we had at the time with the rest of those and other organisations. We have started talking, and now we will begin to see in what ways, and how, we can collaborate.

However, having said all that, I insist that we are part of the European Fashion Alliance, so we maintain a continuous collaborative relationship with the other members.

Looking to the future, what strategies do you plan to implement to continue strengthening and promoting the fashion show and the swimwear industry in Gran Canaria?

For the Swimwear Fashion Week, we are naturally still open to more international brands coming to show here. We also remain committed to promoting our platform for presenting swimwear collections to international brands. It is very important that brands are now contacting us directly, as was the case with Chantelle, who told us directly that they wanted to participate in our event. Ultimately, these are ongoing objectives for the Swimwear Fashion Week, and we want to continue working in this direction.

And regarding the island's industry, beyond the fashion show itself?

In that area, we want to continue working especially on everything related to schools and training. We already have scholarships and training courses, but our specialisation is swimwear. We want to create a project that originates from the schools and helps to encourage the continued creation of swimwear companies on the island of Gran Canaria, and for more local swimwear companies to join our Swimwear Fashion Week. So the objectives here are to work in that direction and, of course, to continue strengthening our internationalisation plan, which is very important to us.

Canada Goose has closed out the first chapter of its sustainability strategy with a 50 percent cut in market-based Scope 1 and 2 greenhouse gas emissions from its FY19 baseline, approval of its climate targets by the Science Based Targets initiative (SBTi), and full diversion of post-consumer warranty waste from landfill in FY26.

The milestones are detailed in the company's newly released FY26 Impact Report, which marks the end of a five-year sustainability strategy and lays out priorities for what Canada Goose is calling its "next chapter." The report is accompanied by an ESG Deep Dive with further detail on performance across the company's six sustainability pillars.

The emissions reduction was driven largely by electrification of manufacturing facilities and a shift toward renewable electricity. Alongside the 50 percent cut, Canada Goose secured SBTi approval for both its near-term and net-zero emissions targets, giving the company third-party validation of its climate roadmap heading into the next phase.

On the product side, Canada Goose reports that 100 percent of post-consumer global warranty waste was diverted from landfill in FY26, up sharply from 78 percent in FY20. The company also pointed to its Generations resale and repair program, through which more than 19,000 products were recirculated rather than discarded.

The report also documents changes in how Canada Goose sources materials. The share of materials purchased for domestic manufacturing classified as Preferred Fibres and Materials rose to 91 percent, up from just 21 percent in FY21. Bluesign-approved fabrics climbed to 89 percent, up from 45 percent over the same period, while 81 percent of Tier 1 suppliers are now participating in the company's Social Compliance Program, up from 46 percent in FY20.

Canada Goose says it has strengthened the data underpinning its sustainability claims, completing life cycle assessments across all products manufactured globally in FY26. The company also reports 65 percent primary data coverage for Scope 3 emissions tied to global transportation. A figure it says will sharpen its greenhouse gas accounting going forward.

On the conservation side, the company noted continued support for polar bear habitat protection, with 8 million Canadian dollars donated to Polar Bears International since 2007.

Looking ahead

Carrie Baker, president, brand and commercial at Canada Goose, framed the results as the foundation for a more targeted approach going forward.

"Five years ago, we set our sights on building the foundation for how sustainability is embedded across our business. The next phase is about sharpening our focus," Baker said in a statement. "We've made meaningful progress, from reducing operational emissions and advancing circularity to strengthening responsible sourcing, and now have a clearer understanding of where our efforts can make the greatest environmental and social impact. As we look ahead, that understanding will continue to shape how we operate, innovate and grow responsibly.”

Canada Goose said its next phase will center on four priorities: strengthening climate action, advancing circularity, deepening supply chain transparency, and using its expanded data and a comprehensive sustainability risk assessment to guide priorities across the business and value chain.

The second star now has its place on the Spanish national team shirt. The emblem immortalises the team's second World Cup victory after defeating Argentina on Sunday. It joins the star commemorating the 2010 title win in South Africa.

La Roja's kit, now featuring the second star above the crest, will hit the market in the coming weeks. Adidas, the team's technical sponsor, has announced that the shirt will be available for pre-order exclusively through its official app from August 4. From August 15, it will also be available via the Royal Spanish Football Federation's channels.

The German brand will also release a commemorative T-shirt on Tuesday, available in navy blue and red. It will feature Spain's journey through the World Cup to celebrate last night's title victory.

For Adidas, the victory comes amidst strong commercial momentum. The manufacturer, which supplied both finalists, has turned the tournament into one of the biggest successes in its recent history. According to data from the DPA agency, the company has sold four times more shirts than during the Qatar World Cup and has doubled sales of the official ball. The group expects to generate around 1.5 billion euros in revenue related to the World Cup. This figure is at the upper end of the forecast provided by its chief executive officer, Björn Gulden. Among the 14 national teams sponsored by Adidas, host country Mexico led sales.

Ephemeral nature of victories

As history moves forward, so does the market. The shirt that on Sunday represented the latest great sporting achievement is today an outdated version for a consumer who wants to celebrate their team's victory. Consequently, the addition of the second star to the Royal Spanish Football Federation's crest immediately turns the stock of single-star shirts into a product with less commercial potential.

Traditionally, brands have managed this type of surplus through discount campaigns, donations or, in some markets, inventory destruction. However, this model is becoming less viable due to an increasingly demanding regulatory framework and growing pressure to manage products more responsibly.

The entry into force of the Ecodesign for Sustainable Products Regulation (ESPR) (EU) 2024/1781 coincided with the victory. The regulation progressively limits the destruction of certain unsold textile products. It also forces companies to rethink their surplus management, seeking a balance between profitability, sustainability and brand value protection.

Scarcity gains traction as a strategy

Some emerging brands are exploring a different approach based on scarcity, experience or made-to-order production. TwoJeys, for example, whose own logo revolves around two stars, has found a golden opportunity in this victory. The brand has launched a limited drop in collaboration with New Era, featuring a red cap with gold embroidery, the letters “TJ” in a handwritten style, the two stars and the date on the side panel. In fact, Keyne Yamal, the younger brother of Lamine Yamal — who became one of the World Cup's off-pitch stars — was seen wearing it in photos after the match yesterday.

Nude Project went a step further with a collection of seven garments that nobody could actually buy. Each piece was produced as a single unit; one garment for one person. To get one, people had to enter a raffle by purchasing a one-euro ticket, with a draw held after each of Spain's victories. The winner of the raffle held after the semi-final also received a double pass to attend the final in person.

Pressure from the parallel market

The battle to capitalise on a sporting success is not fought solely through official channels. These types of events drive demand for all kinds of merchandise, fuelling a parallel market that remains a major challenge for brands and sports federations.

Although counterfeiting is heavily prosecuted in Spain, the parallel market for sports shirts remains significant. Just a month ago, the police seized 16 tonnes of counterfeit shirts in an operation that resulted in nearly one hundred arrests. The seized material included around 66,000 shirts that the organisations could have sold for about two million euros on the black market, causing losses of up to seven million euros for official channels.

Industry estimates reflect the scale of the problem. According to data from the European Union Intellectual Property Office (EUIPO), only about 20 percent of the World Cup shirts worn by Spanish fans are genuine.

Primark is permanently reducing the prices of 26 percent of its fall/winter collection. The price reductions are part of the international "Iconic Value" campaign, according to a press release from the retailer.

A Primark spokesperson told FashionUnited that the prices of the items in question are on average 10 percent lower than last year. This includes hundreds of products across womenswear, menswear, kidswear, nightwear and basics.

The price reductions are permanent. "Iconic Value" is not a temporary campaign but the visible result of a broader international strategy, according to the spokesperson. With this strategy, the retailer aims to more explicitly highlight its value for money.

According to the spokesperson, Primark is making the price reductions possible by simplifying its product range. "By building our collections more selectively, using fewer price points and focusing on high-demand products, we are removing unnecessary complexity from our product range. This allows us to continue offering competitive prices while simultaneously investing in quality, fit and style."

The measure responds to consumers who are more critical of their spending, according to the company. "Customers are paying more attention than ever to affordability and what they get for their money. That is why we are making our competitive prices clearly visible in-store again," said David Swann Lassche, general manager of Primark Netherlands, in the press release.

As examples of the price reductions, Primark mentions a women's Cocoon Yarn jumper dropping to 19 euros (a 6 percent reduction), a pair of women's Max Warm Velvet Plush leggings going from nine to seven euros (a 14 percent reduction), and a women's coat with its price falling from 28 to 26 euros.

Reformation has launched the roadshow for its initial public offering, moving the Los Angeles-based womenswear brand into the final stretch of its path to the New York Stock Exchange, where it has been approved to list under the ticker symbol “REF.”

The company announced Monday that it is offering 14,062,500 shares of common stock at an expected price of between 15.00 and 17.00 dollars per share. At the midpoint of that range, the offering would raise approximately 225 million dollars, and up to 239 million dollars at the top of the range.

Of the total, Reformation itself is offering 9,478,821 shares, while existing stockholders are selling 4,583,679 shares. The selling stockholders are also expected to grant underwriters a 30-day option to purchase up to an additional 2,109,375 shares at the offering price. Reformation noted the offering remains subject to market conditions, with no assurance as to timing, size or final terms.

J.P. Morgan and Morgan Stanley are acting as joint lead bookrunning managers, with Citigroup and RBC Capital Markets serving as joint bookrunners. Guggenheim Securities, Baird, William Blair and BTIG are additional bookrunners, and Telsey Advisory Group is co-manager.

The roadshow follows Reformation’s public S-1 filing in late June, which revealed net revenue of 507.1 million dollars for the year ended December 27, 2025, up from 438.2 million dollars a year earlier, though net profit declined to 12.6 million dollars from 33 million dollars, pressured in part by tariffs. First-quarter 2026 net revenue rose 30.4 percent year-on-year to 112.3 million dollars, extending a run of 20 consecutive quarters of double-digit growth. The brand is majority-owned by private equity firm Permira, which is expected to retain significant influence following the listing.

Founded in 2009, Reformation describes itself as the largest sustainable womenswear brand in the world. The company operates 70 retail stores across the US, UK, Canada and France, serves more than 150 countries through e-commerce, and counts over one million active customers. Roughly 90 percent of net revenue comes through its direct-to-consumer channel.

The shareholder lawsuit against Boohoo continues to grow. The Telegraph reported that 11 additional institutional investors have joined the High Court claim against the fast-fashion retailer, adding roughly 10 million pounds in new claims and pushing the total compensation sought to 245 million pounds.

The new claimants include the Bank of Korea and Stichting Shell Pensioenfonds, the multibillion-euro Dutch pension fund for Shell employees, alongside US public-sector pension funds such as the Illinois Municipal Retirement Fund and the Public Employees' Retirement System of Mississippi.

The lawsuit, first filed in May 2024 by the California State Teachers' Retirement System, which manages more than 417 billion dollars in assets, stems from the 2020 crash in Boohoo's share price. The stock fell 42 percent after reports revealed that workers in Leicester factories supplying the retailer were being paid as little as 3.50 pounds an hour — below the legal minimum wage — while working in cramped conditions, with some facilities allegedly remaining secretly open during Covid-19 lockdowns. The scandal wiped more than 1 billion pounds off Boohoo's market value.

Boohoo contests allegations

The investors allege that co-founder Mahmud Kamani must have been aware of conditions in the Leicester factories before the revelations became public, and that the company failed to properly disclose the risks. In High Court filings, lawyers from City firm Fox Williams, representing the investors, said the claimants relied on "misleading/untrue statements or omissions" by the company.

That position stands in contrast to the independent review of Boohoo's supply chain led by barrister Alison Levitt KC, which concluded that unacceptable conditions were "endemic" in the supply chain but that Boohoo did not deliberately allow them to exist or intentionally profit from them.

A spokesman for the company — which rebranded as Debenhams Group in 2025, four years after acquiring the collapsed department store chain out of administration — told FashionUnited that "the company strongly contests the allegations and will vigorously defend any claim.”

In total, 58 investors are now suing the retailer, including five retail investors who recently joined, while 20 investors have withdrawn from the action since its launch two years ago. The case, one of the highest-profile ESG-related securities claims before the English courts, is proceeding in the Commercial Court under section 90A of the Financial Services and Markets Act.

From July 19, clothing brands are no longer allowed to burn their excess stock or have it 'destroyed' in any way. This makes it less attractive to order in bulk from factories, which involves large orders at a low cost. From now on, the buyer will have to pay for what is left over.

'Ban on destruction of unsold goods' in brief

In Europe, an estimated 4 to 9 percent of unsold clothes are destroyed annually before they are ever worn. According to EU data, this waste generates approximately 5.6 million tonnes of CO2 emissions, roughly equivalent to Sweden's total net emissions in 2021. In France alone, around 630 million euros worth of unsold non-food products are destroyed annually, as reported by The Fashion Law. A significant portion of this comes from returns.

To tackle the problem, an instrument was devised in Brussels as part of the Ecodesign for Sustainable Products Regulation (ESPR): a ban on the destruction of unsold clothing, clothing accessories and footwear. Professionals also refer to it as the 'ban on destruction of unsold goods'. Member states will determine the fines for violators and who will monitor enforcement. In the Netherlands, for example, this is the Human Environment and Transport Inspectorate (ILT) and the Netherlands Food and Consumer Product Safety Authority (NVWA).

The ban also includes a reporting obligation. From February 2027, large companies must publicly disclose in a standard format how many unsold products they discard and what happens to them, such as recycling or landfill. For smaller companies, both obligations will only come into effect in 2030. For now, the changes will therefore only affect companies like Zara or Shein.

What is 'destruction'?

The definition of 'destruction' in the ESPR focuses on the bottom of the waste hierarchy (the waste pyramid). It concerns products that are intentionally sent to landfill, incinerated, or processed for energy recovery after being deliberately labelled as waste.

If a company donates the clothing, resells it second-hand (re-use), or transforms it into something new (upcycling), it falls outside the ban. Despite these good circular intentions, such a definition also creates a loophole. A common criticism is that large companies with strong legal expertise find ways to export the problem. They sell unsold stock in bulk as 'second-hand clothing' or 'residual stock' to traders outside the EU, for example in West Africa or Latin America. On paper, this is considered re-use and is therefore legal. In practice, however, a huge portion of this clothing is unsellable and still ends up on giant textile landfills abroad. This is not the brands' problem, because once there, EU rules no longer apply.

Opportunity for deadstock textiles

Brands and ateliers with beautiful fabrics also see the obligation as a welcome challenge to create new fashion from 'deadstock': leftover fabrics or entire garments. It has long been known that this form of reuse leads to exciting fashion and a positive environmental impact. Platforms like Nona Source, launched by LVMH in 2021 as part of its environmental strategy, connect designers with 'archive fabrics' and leather from major luxury houses at 'competitive prices'. For now, these fabrics are only available within Europe. The ESPR could potentially give such a business a boost.

Reactions from the industry

Ultimately, the ESPR is not only intended to make the industry more sustainable from within, but also to guide consumers through the less-than-transparent fashion industry. "The law has significant value because it makes both companies and consumers aware of the need to combat waste," says Lizbeth Nowé, director of the Belgian industry association Creamoda.

She has her doubts about the law's impact on the Benelux region. Local brands there produce relatively small quantities; in practice, these items already find a second life through sales, street markets, outlets, or buyers who take over the remaining stock. For these countries, the law mainly confirms existing practices and forces companies to keep records of them from now on.

Nowé also notes that there are quite a few exceptions to the rules. Unsafe products; clothing that infringes on intellectual property; items that are too damaged or soiled; and products that still have no buyer after being actively offered for sale or donation for eight weeks may still be destroyed. As long as a brand can prove it has gone through these steps, little will change.

On the other hand, she foresees that due to the new customs rules that tax parcels to Europe more heavily, platforms like Shein will further shift their model to European stock and distribution centres. Then it is not inconceivable that the volume of unsold goods within the EU will also increase, and the ban will become "very relevant" for these players.

Nowé explains: "For international platforms, it is now becoming less attractive to ship directly from China to European consumers. Some players will opt for distribution from warehouses on EU territory, which also shifts the risk. Companies will have to forecast demand in advance. Errors in these forecasts can lead to larger stocks, more returns, and potentially more surplus or unsold goods within the EU. These products on European territory will then have to be given an alternative destination, such as resale, reuse, or donation."

There is some nuance to this. The legal assessment depends on several factors. These include who owns the goods, whether the products have been placed on the EU market, and which party ultimately decides on the disposal or destruction of the goods.

The German industry association Gesamtverband textil+mode takes a stronger stance. It argues that the new measure ignores reality and primarily burdens the domestic industry with yet more pointless bureaucracy.

Jonas Stracke, head of circular economy and resource efficiency at the association, says: "No German or European manufacturer simply destroys new goods, although that is the impression the name of the law gives." According to the expert, the clothing still has value for local SMEs, and surpluses in practice go to outlets or charity. Only minimal quantities that are unusable due to transport issues (such as mould contamination) or significant production defects are discarded.

Stracke: "For greater sustainability, what is primarily needed are well-functioning collection, sorting, and recycling structures, as well as a market for recycled textile fibres. As long as these conditions are lacking in the EU, the destruction ban, with all its extra administrative red tape, will remain merely a paper tiger."

The German association's biggest frustration is that European fashion brands are being subjected to new regulations, while hundreds of thousands of parcels of cheap Asian ultra-fast fashion enter the market daily, albeit better regulated since last month. Because these platforms often do not have a European headquarters, it remains legally difficult to tackle the overproduction they cause, while their cheap textiles clog up local clothing collection bins.

In Spain, due to the presence of fashion giants like Inditex (Zara's parent company), a relatively large number of companies fall into the first group that must comply with the law. Gema Gómez, vice president of the Asociación de Moda Ética y Sostenible (AMES), thinks it is a lot for these companies to handle at once: new requirements for ecodesign; Digital Product Passports; Extended Producer Responsibility (EPR); due diligence; and rules for less greenwashing and more transparency.

Despite this pressure, Gómez sees that many SMEs are taking a wait-and-see approach: "In many cases, companies are waiting until the entire regulatory framework is in effect before taking action." This is a dangerous strategy, she warns, because regulation has now shifted from a purely legal obligation to a strategic business case.

Her biggest concern is that the law will simply shift the problem elsewhere. "Already, around 80 percent of Europe's exported used clothing ends up in the Global South." Gómez fears that, lacking options in Europe, brands will ship their surpluses across the border and have them destroyed there anyway.

She is critical yet hopeful about the ESPR: "A truly circular economy is not just measured by how much clothing we manage to save, but by how we can limit the production of excess in the first place."

The destruction ban can be found in Article 25 of the Ecodesign for Sustainable Products Regulation.

The Australian Fashion Council (AFC) has commissioned a feasibility study into establishing a clothing smart factory in New South Wales, with the longer-term aim of creating a scalable model for local garment manufacturing.

The proposed facility would give Australian fashion brands access to small-scale, on-demand production and product development that is currently difficult to deliver domestically at a viable cost. The planned model would combine digital pattern-making, textile printing, CNC cutting, automated production and advanced finishing.

The study is supported by Epson, Investment NSW and the NSW Government’s Fashion Sector Strategy. RMIT, Swinburne University of Technology and the University of Technology Sydney are contributing expertise across manufacturing, textile technology and workforce development.

The AFC said the project could provide a blueprint for a future network of smart factories across Australia. The study, which is expected to be completed by the end of 2026, will assess market demand, technology, skills, financial requirements and potential public-private investment.

In a statement, Sam Delgos, general manager of the AFC, said: “Australia has extraordinary design talent, but for decades we've watched our clothing manufacturing capability move offshore. If we're serious about building a globally competitive fashion industry, we need the infrastructure to support it.”

He added: “This feasibility study is our blueprint; bringing together industry, government and Australia's leading universities to explore a new model for advanced, on-demand production.”

Earlier this year, the UK government revealed plans to prevent social media platforms from being accessible to people under 16. While the announcement sparked heightened debate, drawing both opposition and support, it aligns the UK with other countries considering similar restrictions on user-to-user platforms, including Australia, which enforced its ban in late 2025.

The proposed ban is expected to apply to platforms such as TikTok, Instagram and Snapchat, which have become major parts of the youth marketing infrastructure of fashion brands. Many have shaped their communication strategies around such sites, making their potential inaccessibility a concern.

Brands need to ask: ‘How do we become part of culture in a more meaningful way?’

Yet, while the policy could impact these strategies, brands are being urged not to treat social media as the audience itself. Sonal Haria and Sanjeev Jandu, co-founders of The CB Consulting Group, suggested that Gen Z and Gen Alpha are not inherently “social media audiences” and that, while social platforms may have been the vehicle through which communities have formed, the underlying need is connection, belonging and participation.

“If restrictions reduce direct access to younger users, this is the time brands shouldn’t be asking, ‘How do we replace TikTok?’ but ‘How do we become part of culture in a more meaningful way?’” the duo said in a joint statement to FashionUnited.

Haria and Jandu noted that, if a ban were to come into effect, a first major strategic response could see brands moving from mass reach to smaller, more engaged communities. “I believe we'll see a return to grassroots marketing and the power of micro-communities instead of chasing mass reach, brands will need to invest in smaller, highly engaged communities - whether that's through schools, sports clubs, local events, creators with genuine influence, university networks, or interest-based groups. These spaces foster trust in a way that paid advertising often can't and build a brand world that feels authentic,” they explained.

The key here is moving from passive exposure to active participation, which can be achieved through brand-led community initiatives, such as insider apps with AI-powered try-ons, WhatsApp consumer communities, in-store activities, touring pop-ups and workshops, all of which Haria and Jandu said would be key to building communities.

Challenging the reliance on social-first metrics

What will also come into question if the ban moves ahead is social-first performance metrics. The CB Consulting Group co-founders urge brands to challenge the industry’s reliance on impressions, views and follower counts, noting that while engagement, such as viral reach, may create visibility, it doesn’t necessarily equate to trust, loyalty or conversion. Instead, brands should look to repeat purchases, recommendation rates, programme participation, customer retention and other measures that track the health of their communities instead of the size of their audience.

“The strongest metric in the future won’t be reach, it will be advocacy,” the duo said. “When people choose to champion your brand because they feel part of it, you’ve built something far more resilient than an audience, you’ve built a community. And communities don’t disappear when an algorithm changes.”

Naturally, with a potential restriction on the digital ecosystem, the chance that experiential retail and physical spaces becoming more relied upon is increasingly viable. Haria and Jandu believe that brands will increasingly need to invest less in chasing attention and more in earning trust, with physical spaces potentially evolving beyond their traditional transactional role.

“I do believe we'll see an accelerated return to community and experiential marketing, but in a more intentional way than we've seen before. Experiences will no longer exist simply to create content for social media, they'll exist to build genuine relationships,” they said. “That could mean everything from local pop-ups and workshops to founder-led conversations, collaborations with schools, universities and grassroots organisations, or creating spaces where customers can learn, connect and contribute.”

Experiential retail acceleration doesn’t equate to digital disappearance

Retail, they added, could become a more important part of this shift, with physical spaces acting as community hubs where consumers can discover brands, attend events and meet creators. The result could be a model in which stores and other physical touchpoints are designed to build participation and connection, beyond simply enabling a purchase.

In Australia, this progression has been clear throughout the market in the wake of the country's own social media ban. Local fashion brand White Fox Boutique, which has historically built visibility through social media and influencer marketing, has turned to more traditional out-of-home advertising, including billboards and bus wraps, following the introduction of Australia’s restrictions. While it's too early to determine whether a long-term strategic shift is underway, White Fox illustrates how brands may look to move beyond algorithm visibility to using physical spaces and real-world media in retaining awareness among younger consumers.

However, this pivot should not be seen as a move away from digital altogether. Haria and Jandu said that emerging platforms, AI-powered discovery and new forms of digital engagement will continue to influence how consumers find brands. The difference, they argued, is that fashion businesses may need to become less dependent on any single platform or algorithm.

“At the same time, I don't think it's a case of old channels versus new channels. We'll continue to see emerging platforms, AI-powered discovery and new forms of digital engagement reshape how people find brands. But regardless of the technology, the underlying principle remains the same: people trust people more than algorithms. Brands that empower creators, nurture micro-communities and encourage genuine peer-to-peer advocacy will always have an advantage,” they said.

For some brands, this could also create an opportunity to explore channels that offer a more tangible form of engagement. Haria and Jandu pointed to partnerships with broadcast, television and magazines, as well as the growing appeal of print and branded merchandise, as potential ways for brands to connect with younger consumers beyond the screen.

Marketing budgets need to pivot to community management and partnerships

The question isn’t necessarily whether social media marketing disappears, but whether its position at the centre of the marketing funnel becomes less secure. Many fashion brands have built teams, budgets and growth strategies around social-first marketing, and the proposed restrictions could force them to reallocate investment towards community management, brand partnerships, experiential marketing, grassroots initiatives and customer experience.

“I don't think the answer is to reduce marketing investment - I think it's to rethink where that investment goes. This isn't about downsizing marketing teams; it's about restructuring the areas of focus to reflect how consumer behaviour is evolving,” Haria and Jandu said.

The pair also suggested that brands should use the moment to consider the wider influence they have on younger generations. Rather than competing for more screen time, they said fashion businesses could invest in initiatives that foster creativity, confidence, entrepreneurship, sustainability and self-expression through education, mentorship, local programmes and experiences that bring people together.

“Further it is an opportunity for brands to partner with other types of media outlets, broadcast, TV and magazines, they can tap into the 'analogue trend' that Gen Alpha with print media or branded merchandise for example offering their audience something tangible,” they added.

Visibility is not the same as relevance

Ultimately, the proposed restriction challenges the long-standing assumption that visibility is the same as relevance. While the future of youth marketing will undoubtedly continue to include digital platforms, the brands best positioned for a changing landscape may be those that build relationships that can exist beyond them.

“The future belongs to brands that create ecosystems rather than audiences. Instead of asking, ‘How do we reach more people?’ they'll ask, ‘How do we create a community people genuinely want to be part of?’ That's where long-term loyalty is built, and where brands can make a positive impact by fostering confidence, creativity and connection rather than simply competing for attention,” Haria and Jandu stated.

Fashion companies will now need to monitor the details of how the restrictions are implemented. The government has published its full response to the consultation, with the first regulations are expected to be laid before Parliament by the end of 2026 before the new rules are then anticipated to come into force in spring 2027. Ofcom is also due to deliver an assessment by the end of October on how age assurance measures could be used to determine whether a user is over 16. It is around this time that the final definition of which services fall within scope and where exemptions may lie for e-commerce and other digital platforms will also become more clear.

Fashion brands therefore need to begin scenario planning now instead of waiting for the final regulations, reviewing their reliance on individual platforms and considering how they would maintain discovery, engagement and customer relationships if access to younger audiences changes.

Dutch menswear brand Mr Marvis has received an investment from existing shareholders Amlon Capital and Capital A Investment Partners. Additionally, Christian Stahl, former partner at Apax Partners; Manny Chirico, former CEO of PVH Corp.; and Martijn Hagman, former CEO of Tommy Hilfiger and PVH Europe, are joining as shareholders. The company announced this in a press release.

According to Mr Marvis, the investment is intended to support the next phase of international growth. The founders and management will remain shareholders and continue to lead the company. Financial details of the transaction have not been disclosed.

Mr Marvis was founded in Amsterdam in 2016 and started with a collection of shorts. The brand now sells a broader range of menswear. Its products are manufactured in Portugal, and the company has been a certified B Corp since 2023.

The brand sells its collection through a direct-to-consumer model and is also expanding its retail network in Europe. Following recent flagship store openings in London and Paris, Mr Marvis now has 26 stores. Later this month, the company will open a new location on the Kurfürstendamm in Berlin.

Premium knitwear brand The Knotty Ones has launched a sale of the business after a decline in consumer spending and challenges accessing investment capital impacted performance.

The Lithuanian label has appointed Hilco to oversee the sale of the business and assets. The firm stated it could either operate as a standalone company or as a bolt-on to an established party.

The Knotty Ones was founded in 2014 by three friends; Akvilė Meškauskaitė-Dobrajs, Sandra Pangonytė, and Danutė Rasimavičiūtė. The trio established the label as a knitwear specialist championing a sustainability and ethical production ethos by working with independent knitters and local artists to create contemporary collections.

The company, which operates its own direct-to-consumer e-commerce platform, gained recognition globally and has been worn by public figures like Kelly Rutherford, Hilary Duff and Tom Daley.

Earlier this year, fashion industry veteran Sergio Azzolari was named as its new chief executive officer. His experience in leadership positions at the likes of Roberto Cavalli and Dsquared2 was considered vital amid The Knotty Ones ongoing growth journey, specifically as it looked to enter new markets.

Despite efforts to expand, however, The Knotty Ones has continued to operate within a challenging market environment. In a post on its Instagram page earlier this month, the company said its decision to “choose craftsmanship over mass production” has made it “harder to navigate today’s market”.

The statement continued: “We chose to keep our makers visible. We chose to build a business rooted in heritage, quality and human connection. We still believe those were the right choices.

“But customers are spending less, investment capital is harder to access, and responsible businesses often carry costs that fast fashion simply does not.”

Now, Hilco is searching for a buyer for the label. In a press release, the firm said the deal comes with an opportunity to collaborate with or retain the expertise of Azzolari. The sale includes the trademarked brand name, intellectual property assets, product range, and the "valuable goodwill”.

The company’s turnover for the year ended 2025 came to 1.2 million pounds, with a gross profit margin of 61 percent.

The Knotty Ones is currently selling off its remaining stock via a ‘Farewell Sale’ on its website, urging consumers to purchase the products in the hope that there is a “greater chance that this story does not end here”.

The Court of Bologna has authorised Aeffe spa to take out an interest-free shareholder loan of 2 million euros (2.29 million dollars) with shareholders Colloportus srl and Fquattro srl, companies owned by Alberta and Massimo Ferretti based in San Giovanni in Marignano.

Yesterday, in a statement, the company listed on the Euronext Milan market of the Italian Stock Exchange announced that, “following the hearing on June 26, the Court of Bologna has authorised the company to take out an interest-free shareholder loan of two million with shareholders Colloportus srl and Fquattro srl, with recognition of the pre-deduction benefit pursuant to Article 22, paragraph 1, letter b), Ccii (the shareholder loan)”.

Shareholder loan repayment is guaranteed by a pledge on a current account

The shareholder loan, fully disbursed yesterday, July 9, is intended to meet current financial needs until the end of July 2026. This is pending the receipt of binding offers announced by potential investors.

The company recently announced that due diligence and discussions with Oxy Capital Italia srl are still pending following the expression of interest it submitted. “Several additional non-binding offers have been received for the purchase of the company's and its subsidiary Pollini spa's (Pollini) business complexes. These may become binding offers following a further period of due diligence and evaluation requested by the potential investors,” Aeffe explained in a note a few weeks ago.

Furthermore, the board of directors of the company and that of Pollini considered the non-binding offer made by an industrial operator active mainly in the Asian market to be of particular interest. The operator is in the clothing and fashion sector and has significant experience in managing international brands.

Upon receipt of these offers, the company will submit a new application to the court. This application will seek authorisation for the recognition of the pre-deduction benefit under Article 22, paragraph 1, letter b), Ccci for a further, more substantial loan. The loan is intended to cover the financial needs of the entire interim period until closing.

The repayment of the shareholder loan is guaranteed by a pledge on a current account, the management explained.

The shareholder loan will be repaid on the earliest of the following dates: the expiry of the 18th month from the date of disbursement; the crediting to the company of the consideration from the sale of its business complex; or the collection by the company of the consideration from the sale of a warehouse property owned by Aeffe in San Giovanni in Marignano.

British luxury brand Burberry Group plc (Burberry) has released its first quarter trading update for the 13 weeks ended June 27, 2026. The retail group achieved a 5 percent increase in retail revenue to 455 million pounds (613 million dollars), compared to 433 million pounds in the prior financial year period. Comparable retail sales grew by 5 percent year-over-year.

For the first time in three years, the London-based company experienced growth across its womenswear, menswear, accessories, and childrenswear divisions. The commercial turnaround was anchored by the outperformance of its core outerwear category.

Burberry chief executive officer, Joshua Schulman, stated: “Our strategy is working. We are attracting a broad range of luxury customers across product categories, channels and geographies, reinforcing my confidence in the opportunities ahead.” Schulman added that the group is successfully building momentum through its 'Burberry Forward' strategic programme.

Regional performance shows resilience in Americas and Greater China

In terms of regional development, comparable retail sales in the Americas grew by 12 percent, supported by domestic market demand and broad-based customer acquisition. Greater China registered a 9 percent increase in comparable sales, driven by local consumer demand and outsized growth among Gen Z customers.

The Asia Pacific region grew by 3 percent overall. Within this zone, South Korea remained a strong performer with 11 percent growth, driven by both domestic demand and tourist spending.

Conversely, performance in Japan declined by 2 percent, heavily impacted by a reduction in inbound tourists arriving from China. The Europe, Middle East, India, and Africa region (EMEIA), registered a 3 percent decline. The contraction reflects the ongoing impact of the Middle East conflict and lower aggregate tourist spend. Excluding the Middle East territory entirely, the EMEIA region recorded a minor decline of 1 percent.

Digital channels and retail productivity support full year outlook

Operational highlights during the first quarter included a 19 percent increase in new rainwear customers, spurred by the marketing campaign 'Portraits of an Icon'. The ready-to-wear category recorded solid growth in knitwear, polos, and swimwear, while the women's handbag division successfully returned to growth.

The e-commerce platform of the luxury brand continued to show good momentum, expanding by mid-teens during the 13 weeks. Physical retail productivity improved through enhanced visual merchandising, category destinations, and clienteling initiatives. By the end of the quarter, the group had established 97 polo galleries globally.

Management has updated its wholesale guidance for the first half of the financial year 2027. Wholesale revenue is now projected to grow by a high-single-digit percentage during H1 FY27 following positive responses from retail partners.

The total capital expenditure for the full year is projected to reach approximately 120 million pounds. The brand expects to achieve annualised cost savings of 100 million pounds by the financial year 2027, having already delivered 80 million pounds of that total during the financial year 2026.

The board confirmed that its overall financial guidance for the financial year 2027 remains unchanged. The group expects to deliver revenue growth and margin expansion in line with market expectations, while remaining mindful of the macro-economic environment.

Milan - Italian police searched the headquarters of eleven luxury brands on Thursday, including Chanel, Bulgari and Etro, suspected of using subcontractors who exploited Chinese workers in Italy.

The other brands under investigation are Brunello Cucinelli, Moncler, Jacob Cohen Company, Owenscorp Italia, Goyard Italia, F.Vl, Stefano Ricci and Brandart, Milan prosecutor Paolo Storari told AFP, confirming a report from the business newspaper Il Sole 24 Ore.

The investigation, led by the Milan public prosecutor's office, had already uncovered wage and labour irregularities in Italian workshops. In late 2025, it was extended to thirteen other major luxury firms, including Prada, Givenchy and Dolce & Gabbana.

Last year, the minister of industry, Adolfo Urso, defended these industry giants, stating that the reputation of “Made in Italy” was “under attack”.

Investigators suspect that the brands allowed their subcontractors to use workshops where Chinese workers were employed under conditions contrary to labour law and, in some cases, housed in unsanitary accommodation.

Several high-end firms, including cashmere specialist Loro Piana, were temporarily placed under judicial administration due to the working conditions of their subcontractors.

This measure was later lifted after the companies strengthened controls over their supply chains.

The India-UK Comprehensive Economic and Trade Agreement (CETA) officially entered into force on 15th July 2026, marking a landmark moment for the textile and garment sectors of both nations. By eliminating import duties of up to 12 percent on Indian apparel and home textiles, the agreement provides Indian exporters with immediate, duty-free access to a UK market valued at over 27 billion British pounds (around 36.55 billion US dollars) while lowering costs for British retailers and fashion brands. They can now source high-quality apparel and textiles from India at more competitive prices.

British High Commissioner Lindy Cameron called the pact a “new gold standard” for global trade and a “powerful message in support of a rules-based order" when addressing journalists on Wednesday. She noted that the agreement is set to double bilateral trade by 2030. “It is a historical moment for the modern UK-India partnership as the trade deal has unlocked the combined economic might of two global economic powerhouses,” she added as quoted by Indian daily Economic Times.

The move is intended to strengthen bilateral ties while creating employment and providing Indian manufacturers a competitive edge against regional rivals such as Bangladesh and Vietnam on one hand and enabling UK businesses to diversify their supply chains away from a reliance on other global manufacturing hubs on the other.

What are the advantages for businesses in the UK?

Thus, this shift not only provides UK businesses with greater flexibility and more favourable pricing but also fosters deeper integration into global supply chains, allowing British retailers to leverage India's manufacturing strengths—such as expertise in cotton, manmade fibres and value-added garments—to better meet consumer demand in the UK.

The UK currently imports textiles and clothing amounting to 28.8 billion US dollars annually, making India its fourth-largest supplier. Under the provisions of the pact, zero-duty access has been granted across 1,143 textile tariff lines. Among the key product categories set to gain are ready-made garments, cotton dresses, blouses, cotton T-shirts and home textiles.

In addition, UK fashion brands can take advantage of the fact that India is home to one of the world's most integrated textile and apparel industries that spans cotton cultivation, yarn spinning, fabric and garment manufacturing, finishing and export logistics.

“The India–UK CETA comes at the right time. It gives UK fashion brands easier access to India's manufacturing expertise, flexible sourcing and stronger supply chains for confident growth”, states Kalpana Agrawal, general manager marketing at NoName according to EIN Presswire. The India-based clothing manufacturer helps fashion startups and established brands alike with sourcing, product development, sampling, quality control and bulk apparel production.

The UK Fashion and Textile Association (UKFT), which remained in close dialogue with the government throughout the negotiations, will publish “updated guidance on the implications for UK exports and imports of fashion and textiles” according to a recent post on its website.

How will the Indian garment and textile industry benefit?

Previously, India was at a disadvantage compared to countries like Bangladesh, Pakistan and Cambodia, which already enjoyed duty-free access to the UK under various schemes. This agreement levels the playing field, thus allowing Indian exporters to compete based on quality, reliability and innovation rather than just price.

Industry insiders already voiced significant optimism regarding the potential for export growth. “Our domestic business will accelerate. People will get employment and workers who were sitting at home will return to work,” said textile businessman and manufacturer Rangnath Sharda, when speaking to news agency Asian News International (ANI). He was referring to the situation in Surat, Gujarat, India’s commercial centre for textiles and manmade fibre textile hub.

Another hub to see an uptick in production is Tirupur in Tamil Nadu, also called ‘the knitwear capital of India,’ as brands may shift more of their supply chain toward the country to take advantage of cost savings and the newly streamlined trade environment. The expansion of these export orders is projected to support significant job creation, particularly for rural workers and women in the textile manufacturing sector. Textile businessman Lalit Sharma also pointed to the fact that the tariff cuts would make Indian clothing significantly more affordable for UK consumers.

However, with the price barrier removed, the focus for Indian exporters is shifting toward non-tariff compliance. To win and retain business under the new agreement, manufacturers must excel in the areas of traceability and compliance standards. Exporters must provide clear, auditable documentation regarding the origin of fibre, yarn and fabric to qualify for the duty-free status. That means exporters must be prepared to prove that their goods qualify for preferential treatment. Simple operations like packaging, labelling or ironing do not confer Indian origin status, so businesses must ensure that their manufacturing processes meet specific “substantial transformation” criteria.

In addition, UK retailers now place a higher premium on compliance capability. This includes strict adherence to UK chemical regulations (such as REACH), product safety standards (especially for children’s wear) and social/ethical audit requirements. And then there are sustainability requirements: As the UK market increasingly values high-performance and sustainable materials, manufacturers who can prove the origin and environmental footprint of their goods will be best positioned to capture new market shares.

The agreement is also expected to bolster the “Make in India” initiative by attracting greater investment into manufacturing centres. Beyond price parity, the pact includes trade facilitation measures, such as simplified customs procedures and digital documentation, which are designed to reduce the administrative burden on small and medium-sized enterprises.

Outlook

Logistical challenges continue to compound pressures across global supply chains. As companies enter the busy July-August peak season, they face ongoing risks from geopolitical instability, including potential disruptions in the Red Sea and container shortages that threaten to inflate freight rates. Industry experts advise that while the tariff relief provided by CETA is a major advantage, firms must remain vigilant and adopt flexible production strategies to navigate the volatility of the current market environment.

Ultimately, the successful integration of these trade benefits will depend on a manufacturer's ability to balance cost-effective pricing with stringent compliance and traceability requirements. As brands seek to mitigate the dual risks of logistics bottlenecks and fluctuating demand, the ability to maintain reliable, high-quality production will be the deciding factor in who gains the most from this new era of UK-India trade. While the structural crisis in neighbouring manufacturing hubs underscores the fragility of the global apparel trade, the CETA agreement provides a robust framework for Indian exporters to capture a larger share of the UK market while UK businesses can diversify their supply chains.

In short, while the tariff reduction provides an immediate boost, the long-term benefit of the agreement will depend on a manufacturer's ability to combine duty-free pricing with transparent, traceable and compliant production systems. Brands and retailers are well advised to evaluate potential cost advantages from duty-free sourcing and to partner with experienced export-oriented manufacturers. Both manufacturers and brands should understand rules of origin requirements to ensure eligibility for duty-free treatment and explore sustainable sourcing options to meet evolving consumer expectations.

The Australian government has proposed plans to reform its Modern Slavery Act with the goal of strengthening preventive efforts against exploitation in the domestic supply chain.

If implemented, companies turning in an annual revenue of over 100 million Australian dollars would be required to identify, prevent, and address risks of modern slavery, or face criminal liability.

These measures will apply to companies that will then have the opportunity to prove they took reasonable steps to prevent modern slavery.

Other measures, like deferred prosecution arrangements, civil penalties for inadequate reporting, and further guidance, are also included in reform proposals, which will undergo formal consultations.

In its current format, the act does not impose penalties on companies that fail to report risks of exploitation, meaning that related regulation in Australia has fallen behind similar yet more stringent litigation in other regions.

In Europe and some Asian countries, a growing emphasis on due diligence has seen the responsibility of businesses extend beyond simply reporting to also identifying and addressing risks.

In a statement, founding director of Australian human rights group Walk Free, Grace Forrest, said: “This is a sign of genuine momentum, showing Australia is finally catching up with its global trading partners.

“Introducing criminal liability into the Modern Slavery Act confirms the government is serious about holding businesses to account for failing to prevent exploitation in their supply chains.”

Shareholders of Burberry have backed a new executive pay policy that could see the luxury brand’s chief executive Joshua Schulman receive total remuneration of up to 12.24 million pounds, despite opposition at the company’s annual general meeting.

According to a new AGM filing, 64.6 percent of votes supported the directors’ remuneration policy, while 35.4 percent voted against. A separate resolution amending the Burberry Share Plan received 63 percent support and 37 percent opposition.

Under the revised structure, performance share awards worth up to 300 percent of his salary could be issued to Schulman, whose maximum potential package is linked to meeting performance targets as well as increasing the brand’s share price to 50 percent.

The votes come amid an ongoing turnaround led by Schulman, who joined as CEO in July 2024. Burberry returned to profit in its latest financial year, reporting adjusted operating profit of 160 million pounds, up from 26 million pounds a year earlier, while it has also cut costs and jobs and refocused on core products including outerwear and scarves.

Burberry said it would continue engaging with shareholders following the vote against the proposals and provide an update within six months.

Investors also approved William Jackson as the company’s new chair, replacing Gerry Murphy. Jackson’s appointment was announced earlier this year. He brings to the role extensive experience from his tenure at Bridgepoint Group, where he oversaw investments in consumer-facing businesses like Pret a Manger.

Canadian activewear brand Lululemon has opened a state-of-the-art, one million-square-foot distribution centre in Brampton, Ontario, Canada, to strengthen its North American e-commerce fulfilment capabilities.

The distribution centre, in partnership with Element Logic, features one of the largest AutoStore-enabled facilities in North America, and has been designed to support the retailer’s growing e-commerce business across Eastern Canada and Eastern US.

Ted Dagnese, chief supply chain officer at Lululemon, said in a statement: “Since breaking ground in 2023, our new Brampton DC marks a significant milestone in the continued evolution of lululemon’s global supply chain. 

“This facility expands our fulfilment capabilities in Canada and the US, enabling us to better serve our guests and operate with greater speed and agility. The opening represents collaboration across our operations, engineering, technology, facilities, and supply chain teams, and reflects our commitment to innovation, operational excellence, and creating new opportunities for our people as we build the future of our distribution network.”

Lululemon continues to evolve global supply chain

The Brampton location features an AutoStore order fulfilment system, which comprises 292,000 storage bins and 525 R5 pro robots used for storage and fulfilment. The integrated automation system is designed “to improve speed, flexibility, and scalability while supporting a seamless guest experience,” and includes eight kilometres of conveyance.

To visualise how big the development is, Lululemon describe the size as being able to fit “approximately 57 NHL hockey rinks” within the building’s footprint, while the mezzanine alone is comparable “to the size of two European football pitches”.

Krish Nathan, chief executive of Element Logic Americas, added: “The Brampton facility, the largest AutoStore deployment in Canada and second largest in North America, reflects what is possible when long-term trust and technical execution come together at scale.

“We are proud to support Lululemon with integrated automation that is designed around the needs of a complex, growing omnichannel network.”

The India–UK Comprehensive Economic and Trade Agreement (CETA) has officially come into effect, establishing an economic framework between the two countries. Operationalized on July 15, 2026, the bilateral trade deal seeks to reduce trade barriers, improve market access, and enhance professional mobility across major industrial sectors. Alongside the trade deal, a separate social security pact titled the Double Contribution Convention (DCC) has also become functional.

The agreement marks a significant turning point for international trade, providing zero-duty access for nearly 99 percent of exports from India into the UK market. Total merchandise trade between the two nations reached 25.12 billion dollars during the 2025–26 financial year.

The implementation of CETA is projected to stimulate growth in labour-intensive manufacturing sectors, offering competitive pricing advantages for Indian exporters.

Impact on textile and apparel sectors

The fashion and textile industries are poised to achieve major benefits from the tariff relaxations. The UK currently imports textiles and clothing valued at 28.8 billion dollars annually, with India serving as the fourth-largest supplier to the region. Under the provisions of the pact, zero-duty access has been granted across 1,143 textile tariff lines.

This regulatory change eliminates previous tariff disadvantages faced by Indian suppliers in comparison to duty-free competitors like Bangladesh, Pakistan, and Cambodia.

Key product categories set to gain commercial traction include ready-made garments, home textiles, cotton dresses, blouses, and casual items such as cotton T-shirts.

Expansion in leather and footwear trade

The leather and footwear sectors are also expected to see heightened export volumes under the new guidelines. Prior to the agreement, Indian footwear exports faced UK import duties of up to 16 percent, which have now been reduced to zero. The trade deal opens up unrestricted access to the 8.9 billion dollar leather market of the UK.

Conservative industry estimates project that leather and footwear exports from India to the UK could exceed 900 million dollars in the coming years. The primary production hubs driving this expansion include major leather clusters situated across Uttar Pradesh, Tamil Nadu, West Bengal, and the Delhi National Capital Region.

The tariff exemptions are expected to strengthen the competitive position of the country against alternative manufacturing hubs, including Vietnam and Indonesia.

Relaxations for gems and jewellery

The luxury sector will experience structural shifts as traditional craftsmen and manufacturers receive tariff relaxations. Gems and jewellery exports from India to the UK are valued at 1.03 billion dollars, within an overall annual UK import market of approximately four billion dollars.

The reduction of import duties is projected to double the value of gems and jewellery trade between the two nations within the next two to three years. Major industrial clusters located in cities such as Surat, Mumbai, Jaipur, and Kolkata are slated to benefit from the increased export demand.

Professional mobility and services trade

The services sector, which recorded a bilateral trade value of 35.44 billion dollars in 2024, receives extensive commitments under the new architecture. The UK has agreed to eliminate numerical restrictions and the economic needs test for incoming professionals. Furthermore, mutual recognition agreements for professional qualifications will be pursued within 12 months.

Under the simultaneously enacted DCC, dual social security contributions are eliminated for short-term corporate assignments lasting up to 60 months. Previously, professionals contributed nearly 23 percent of salaries to the national insurance system of the UK without receiving reciprocal benefits.

The elimination of these duplicate payments is estimated to save businesses and professionals more than 600 million dollars annually.

Richemont continues its growth trajectory. The Swiss jewellery and watch group recorded a strong increase in turnover in the first quarter of the 2026/27 financial year, exceeding analysts' expectations. Products from the jewellery maisons Cartier and Van Cleef & Arpels continue to enjoy great popularity. The group's turnover rose by 17 percent to 6.33 billion euros from April to June compared to the same period last year, as the company announced on Wednesday. At constant exchange rates, Richemont would have grown by 20 percent.

Richemont has therefore further accelerated its already high growth rate. In the last quarter of the previous year, sales had grown by 16 percent at constant exchange rates.

The strong performance continues to be driven by the jewellery business. Turnover in this segment increased by 21 percent to 4.37 billion euros in the quarter under review, and by 24 percent at constant exchange rates. Sales from watch brands, including IWC and Piaget, lagged behind with a 6 percent increase in turnover to 873 million euros, or an 8 percent rise at constant exchange rates.

Expectations exceeded

With these turnover figures, Richemont has clearly exceeded analysts' expectations. They had forecast a group turnover of 5.91 billion euros and growth in local currencies of 11.5 percent.

As is customary, the group does not provide details on profit performance for the first quarter. The management, led by chairman of the board of directors Johan Rupert, also remains reserved regarding forecasts.

Strong growth in the US

Regionally, the recovery in Asia contributed significantly to Richemont's success. In the Asia-Pacific region, the group increased turnover by 21 percent at constant exchange rates. Business in China, Macau and Hong Kong grew by double digits overall. A year ago, the luxury sector in this area had suffered from a decline in consumption.

Demand in the US remains strong. In the Americas region, Richemont's turnover rose by 27 percent. Meanwhile, in the Middle East and Africa, there was growth of 3 percent despite the crisis in the Middle East.

French textile recycling company Syntetica has closed on a 30 million dollar Series A funding round, with backing from Lululemon, Sri Lanka’s MAS Holdings, and the family offices of Etam and Peugeot, among others.

The firm said the funding will support the construction of its first commercial demonstration facility in France, where it plans to scale its technology to industrial production, with the goal of processing hundreds of tonnes of textile waste annually.

Syntetica has developed a proprietary solution to recycle both Nylon 6 and Nylon 6,6, the two most common forms of nylon, from mixed textile waste, addressing an industry-wide technical challenge of identifying and separating different nylon types.

The company, citing a report by Textile Exchange, said that despite an increase in nylon production, recycled nylon still only accounts for around 2 percent of the nylon market due to these barriers.

Syntetica intends to tackle this problem by building new industrial supply chains around materials like nylon that already exist in Europe. While post-consumer nylon waste is the primary focus, the company said it plans to expand its platform into additional materials and applications over time.

Brands such as Victoria’s Secret and Etam are already working with the company on this process.

In a statement, co-founder and CEO, Marco Bertone, said that while mixed nylon waste had previously been deemed “too complex and too expensive to recycle at scale”, Syntetica has “shown that it is possible to recover high-value materials from the waste streams the industry has historically written off”.

Bertone continued: “This funding allows us to move from breakthrough chemistry to industrial reality and accelerate the transition to more circular materials.”

The round was led by Ecotechnologies 2 fund, which is managed on behalf of the French government by Bpifrance, an organisation that supports businesses by financing their innovation and international expansion.

The initiative is supported by a 300 million euro funding under the France 2030 programme, which strives to bring lasting transformation to key sectors and position the country as a “leader in the world of tomorrow”.

What do Chanel, Dior, Louis Vuitton, Camper, Vans and Tamaris have in common? In recent months, they have all introduced shoe models that are reminiscent of barefoot shoes or are explicitly marketed as such. They are tapping into a trend that has long existed far outside of fashion.

Once derided as an eco-friendly or health shoe, barefoot shoes are increasingly becoming a fashion statement. This is more than just the expected counter-trend to the voluminous trainers of recent years. Many manufacturers combine their models with the promise of natural movement, greater freedom of movement and healthier walking.

“Most modern shoes weaken people's feet,” says Galahad Clark, founder of the British barefoot shoe brand Vivobarefoot. Clark comes from the founding family of the traditional brand Clarks, but takes a deliberately opposite approach with Vivobarefoot. “Vivobarefoot was founded to reconnect people with their natural potential through their feet – a rebellion against ‘Big Shoe’. We make shoes that help you feel more, move naturally and live regeneratively.”

For Dirk Pfeffer as well, the topic was a matter of conviction. The co-founder of the German label Blusun first encountered barefoot shoes at a running event in 2010. “I was totally amazed at what barefoot shoes do to the body and muscles.” He quit his job at the time, built up sales for Leguano until 2018 and founded Blusun in 2024.

From niche to growth market

The market for barefoot shoes has been growing steadily for years. While there were only a few suppliers worldwide until around 2010, Dirk Pfeffer recently counted more than 150 brands. These increasingly include low-cost manufacturers from the Far East, who mainly sell their products via social media.

The fact that the segment is leaving its niche was also evident at the first Barefoot European Shoe Fair in Offenbach. Last year, 78 brands presented themselves at the world's first trade fair for barefoot shoes. Trade fair managing director Arnd Hinrich Kappe spoke of a “brilliant start” and a “sensational kick-off”. The upcoming edition will take place from July 24 to 26 and will feature more than 100 international brands, including Waldläufer, Tamaris Barefoot and Dockers by Gerli.

Economically, the segment is also developing much better than the market as a whole. The global market volume was around 515 million euros in 2024 and is expected to rise to around 745 million euros by 2031. In Germany, the market share is currently only around 1.5 percent, but it is growing much faster than the rest of the shoe market.

“The barefoot shoe market is growing by between ten and 15 percent every year,” says Pfeffer. Blusun achieved a turnover of two million euros in its second financial year, which was around 40 percent above plan. In the current year, the company is growing again by more than 40 percent.

From running shoe to runway

The history of the modern barefoot shoe begins in 2004. At that time, the Italian sole manufacturer Vibram launched the FiveFingers, a shoe with individually enclosed toes that initially attracted attention primarily on the running scene. The concept was boosted by the natural running movement, which advocated as little cushioning as possible. Health- and nature-conscious consumers in particular were interested in minimalist footwear.

Between 2010 and 2015, the segment gained significant momentum. Studies on foot health and biomechanics brought minimalist footwear into sharper focus. At the same time, brands such as Vivobarefoot and Leguano expanded their market presence. A growing demand developed, particularly in Germany, Austria, Switzerland and Scandinavia.

Balenciaga initiated the fashion breakthrough. In 2020, the luxury brand developed a toe shoe for the runway together with Vibram and continued the concept in subsequent collections.

There is also a second design influence: the Tabi. Shoes with a split toe section were made famous in fashion primarily by Martin Margiela, whose 1988 Tabi Boot is now one of the most influential shoe designs in fashion history. Unlike classic barefoot shoes, Tabis do not have a health-related approach, but the greater freedom of movement for the toes takes up a similar idea. Vivobarefoot recently adopted this design with the “Tabi Gen 02” model.

What is a barefoot shoe anyway?

However, the boom also brings a problem: what exactly is a barefoot shoe?

According to specialised manufacturers, it is characterised by a particularly thin, flexible sole with no drop, a wide toe box and maximum flexibility. Its main purpose is to protect the foot, not to guide it with cushioning or support elements.

Fashion brands, however, often interpret this claim much more freely. They often only adopt individual features such as a flexible construction or a wide toe shape. For example, the French fashion house Dior describes the Roadie, designed by designer Jonathan Anderson, as having an “extremely flexible construction” and a two-part sole that is designed to follow the natural movements of the foot.

Demand for a standard

Stefanie Steinert, founder of the online shop Freizehn, wants to counteract this development. With the position paper “The Barefoot Shoe Standard”, she is calling for binding criteria for the industry. The aim is to translate scientific findings on foot health into comprehensible requirements for manufacturers and retailers.

The concern is that if the term barefoot shoe is used arbitrarily, it could lead to false expectations among consumers.

“We have to be careful not to overwhelm consumers. Otherwise, they buy a product and are disappointed shortly afterwards to find that it does not meet their expectations. That is why comprehensive education is becoming increasingly important,” says Pfeffer.

There is also an image problem. Many people still associate barefoot shoes with Vibram's FiveFingers or clunky health shoes. In fact, the design has changed significantly in recent years. The current models from many manufacturers look minimalist, fashionable and suitable for everyday wear.

New tasks for retail

Distribution is also changing with the growth. Today, barefoot shoes are sold in classic shoe shops as well as in outdoor, sports or health retailers and in specialised barefoot shoe shops.

“Merrell barefoot shoes are sold successfully through various distribution channels, both in-store and online,” say Wetter and Lietzau. The brand is particularly well represented in the shoe retail sector, while the outdoor and sports retail sectors are also gaining in importance.

The boom, however, presents classic shoe retailers with new challenges. Barefoot shoes require more explanation than classic casual shoes. Specialist knowledge is needed not only to justify the higher price, but also to be able to assess customers' health expectations. Sports retailers and specialised dealers often have a head start in terms of trust.

Who defines what is healthy?

Vivobarefoot, however, does not want to leave the authority to interpret the subject of health to the sports market. With the out-of-home campaign “Free Your Feet”, the company provocatively questioned the sports industry's fixation on cushioning and technical comfort systems in the spring. Lorries with the message “Those Soles want you to feel nothing – We want you to feel everything” were parked in front of the On flagship store in London, among other places.

“The modern shoe industry has spent decades cushioning and controlling our feet,” says Clark. “But evolution has already created the ultimate interface between body and mind. You don't need more technology between you and the earth, you need less.”

This outlines the conflict that is likely to shape the market in the future: no longer the question of whether barefoot shoes have arrived in fashion, but who defines what a barefoot shoe is.

The UK’s Competition and Markets Authority (CMA) has cleared the anticipated acquisition by Ebay of Depop Limited.

The formal review into the merger launched in June, at which time the regulator said it was looking to determine the “impact the transaction could have on competition in the UK”.

Its process involved an information-gathering period and an invitation for interested parties to comment on the proposed transaction, with the inquiry initially set to run until August 6. The CMA has now decided not to move forward with an in-depth phase two probe.

The announcement came months after Ebay revealed plans to takeover its smaller counterpart earlier this year, in a deal valued at 1.2 billion dollars.

Ebay’s chief executive, Jamie Ianonne, said: “Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category, and we are confident that as part of Ebay, Depop will be even more well-positioned for long-term growth, benefiting from our scale, complementary offerings, and operational capabilities.”

Madrid – Spanish company Recover, a recognised industry leader in the global production of recycled cotton fibres, has today announced a partnership agreement with Turkish textile company Ünteks Group. Through this new alliance, both companies will collaborate to promote the use of recycled cotton within the textile and fashion ecosystem.

According to the Spanish company, under this alliance, the Turkish Ünteks Group will use Recover's recycled cotton as a raw material in its industrial processes to create a distinct series of both garments and knitted fabrics. This offering will be concentrated around a dedicated collection within its range. The collection will be expanded over time, contributing to the alliance's objective of scaling up the industrial use of Recover's recycled cotton.

To achieve this goal, both companies will leverage their respective capabilities and experience. Recover specialises in manufacturing recycled cotton, while Ünteks Group is a vertically integrated group capable of handling the entire process from fabric manufacturing to dyeing, printing, and final garment production.

With over 30 years of experience, the Ünteks Group's production plant in Turkey has a current capacity of up to 1,500 tonnes of fabric and one million garments per month. This volume, combined with the Turkish manufacturer's proximity to European fashion companies, makes it an ideal partner for Recover. The collaboration will help accelerate the industrial-scale adoption of its recycled cotton fibres.

Matthew Neville, commercial director of Recover, emphasised that in addition to this proximity and industrial scale, “one of Ünteks's main strengths is its ability to transform circular knitted fabrics into finished garments with a high level of consistency.” This combination of strengths and unique characteristics “makes them an ideal partner for our collection” of recycled fibres.

Recover works with the objective of “turning recycled cotton into everyday products that brands can trust on a large scale.” The Spanish company summarises that “by combining innovation with industrial-scale manufacturing, Recover and Ünteks Group are amplifying the role of recycled cotton in circular knitwear manufacturing, introducing sustainable materials into everyday product categories.”

With a minimum of 20 percent recycled cotton

Implementing recycled cotton fibres into traditional textile production chains is a complex process and is not without risk. If not managed correctly, it can result in low-quality items that fail to meet the demands of consumers, and consequently, of fashion and textile brands. This highlights the importance of the preliminary research and analysis conducted by companies like Recover, which specialise in textile innovation.

For this partnership, Recover guarantees that all fabrics and garments produced by Ünteks Group will contain a minimum of 20 percent Recover recycled cotton. The Spanish company emphasises that this percentage provides the ideal balance of performance, consistency, and reduced environmental impact, while also offering enhanced traceability for the garments and fabrics.

“In circular knitted fabrics, small variations can affect the fabric's behaviour during the production stages,” noted Hakan Kılıç, CEO of the Turkish Ünteks Group. He added, “a significant part of our work with Recover has involved adjusting and refining every step of the process to ensure the material performs consistently, from the fabric to the finished garment.”

Consumers using Buy Now, Pay Later (BNPL) services will now be covered by the same regulatory protections as other forms of consumer credit after new rules have come into force by the UK government on July 15.

The changes place BNPL providers, including Klarna, PayPal and Clearpay, under the supervision of the Financial Conduct Authority (FCA).

Under the new framework, providers are required to carry out affordability assessments before offering credit, while consumers purchasing faulty goods using BNPL will also gain the same rights to seek refunds as those paying via credit card or other credit products.

Customers facing financial difficulties will further be directed to debt support prior to debt collection measures.

The move addresses the unregulated nature of the BNPL market, which has rapidly expanded in recent years, having become a common payment option for online retail purchases.

Until now, the sector had operated outside of major regulations that typically apply to other consumer lending products. The UK government first announced plans to regulate the sector in 2024, with legislation then passed in 2025.

In a statement, Rachel Black, economic secretary to the Treasury, said: “It is not fair that people using these products have had fewer rights than if they had paid by credit card.

“These new rules protect the consumer — with proper checks before credit is offered, real rights when things go wrong, and support rather than pressure if someone falls into financial difficulty.”

Social media platform TikTok, known for its short-form videos, is “turning online discovery into real-world growth and jobs,” unlocking entrepreneurialism in Britain, as new research shows that the platform contributed at least 10 billion pounds to the UK economy in 2025 and supported 153,000 jobs.

The report utilises research conducted by public policy research agency Public First, exploring how users, creators and businesses use TikTok, alongside additional research from accounting firm EY on TikTok’s direct spending in the UK.

TikTok attracts more than 30 million people across the UK every month, and the report reveals that discovery on the social media platform is “active, not passive,” and much more than a place where people watch content, but “a place where culture moves, businesses grow, people connect, and ideas become reality”.

Ali Law, director of TikTok UK, said in a statement: "TikTok is turning online discovery into real-world growth and connection.”

Small businesses benefiting from TikTok

Research notes that TikTok’s effect is particularly pronounced for small businesses, with its UK audience boosting revenues for small and medium-sized enterprises by 3.4 billion pounds in 2025. Of UK businesses using TikTok, 84 percent add that it has helped them increase their sales and revenue, while almost one third (28 percent) note that they have hired additional staff as a direct result of being on the platform.

Additionally, both new and established businesses benefit from people using TikTok to discover what to buy, where to go and what experiences they want. More than 1 in 3 (39 percent) of all UK businesses use TikTok as part of their marketing strategy, “and they see clear commercial returns,” adds the report.

TikTok Shop has also helped turn discovery directly into commerce, with over 300,000 small businesses now selling on the platform. Research adds that 91 percent of businesses on TikTok Shop said that it has allowed them to grow their sales and revenue, while 94 percent say it has enabled them to launch new products.

The social media giant has also seen its Live shopping format grow 55 percent year-on-year, with more than 6,000 live shopping sessions taking place every day in the UK, enabling businesses to reach new audiences and drive sales. Over one in four (28 percent) of businesses using TikTok say they have sold out of a product because of the effects of TikTok and TikTok Shop.

On the impact TikTok Live has had on driving fashion growth, Lidia Perrella, fashion design graduate and founder of Manchester-based footwear brand Dia Studios, said: "We're on a mission to make boots that genuinely fit everyone, to our customers' exact measurements, from fun, colourful statement styles to everyday classics. TikTok Live has been such a big part of our growth journey. Being able to chat with customers live, explain our fit options, show how to measure correctly and answer sizing questions has made buying footwear so much easier.

"It has also created an amazing community where people can see the boots on a real person, get styling advice and ask questions in real time. It's made a VIP shopping experience accessible to everyone, which has become one of the most special parts of our business."

TikTok allows businesses to reach new customers internationally

The report adds that TikTok-driven exposure extends beyond the UK. It has helped expose British businesses to a global audience and reduced barriers to exporting, contributing to an estimated 1.1 billion pounds in export growth in 2025. Of UK businesses on the platform, 72 percent said that TikTok has helped them reach new customers, while 94 percent said the platform has made it easier for them to sell their products overseas.

Fashion and beauty leading growth on TikTok

TikTok is now one of the leading platforms for discovering fashion and beauty, “shaping what people buy and how trends emerge,” with 30 percent of young adults in the UK turning to TikTok as their main source for beauty and fashion recommendations, the equivalent to 1.8 million young adults. TikTok Shop has also become the UK’s fourth largest beauty retailer with 60 percent year-on-year growth.

TikTok creating entrepreneurs

The research adds that TikTok helps turn interests into livelihoods, with around 8 million people (27 percent) of British TikTok users posting content more than once a week without being full-time creators or businesses. These 'casual creators' generate a constant flow of organic content that helps products, brands and ideas gain visibility and momentum; in addition, this group of users also shows an entrepreneurial spirit, and are more than twice as likely as the UK average to say they want to start a business in the next five years (54 percent vs 21 percent).

Craig Beaumont, executive director at the Federation of Small Businesses (FSB), added: “TikTok shows that anyone can be an entrepreneur; all you need is an idea, a product, and a smartphone, and you can potentially reach audiences around the world, no matter if you’re in a big city or a tiny village.

“It’s great news that video views can translate to real-world sales, in person or via TikTok Shop, and at Federation of Small Businesses we are really excited about the opportunity to support newly-fledged businesses and entrepreneurs as they start small and reach for the stars.”

TikTok isn’t just about London

The research also notes that TikTok is a “national platform” in the UK, and while its audience skews younger than the British population as a whole, it is not simply a youth platform. In terms of age range, 28 percent of TikTok users are aged 18 to 24, 29 percent are aged 25 to 35, and over one in three are aged 35+.

It also adds that its audience is national in geography as well as age. While 17 percent of users are in London, TikTok also reaches “large audiences” across the North West, West Midlands, Scotland, Yorkshire and the Humber, Wales and Northern Ireland.

The platform also reaches a more diverse audience than the UK average, with Black, Asian and Mixed or Multiple ethnic groups all represented at higher levels among TikTok users than in the population overall.

Re&Up has become a certified B Corporation, marking a milestone in the company’s efforts to scale textile-to-textile recycling while meeting verified standards for social and environmental performance, transparency and accountability.

The Eindhoven-based company develops recycled cotton fibres and polyester chips from end-of-life textile waste using its proprietary textile-to-textile recycling technology.

In a statement, Ebru Özküçük Güler, chief sustainability officer, said the certification reflects the company's commitment to "building an infrastructure where innovation, circularity, and operational responsibility operate in unison".

She added: "It recognises not only what we do, transforming textile waste into high-purity resources, but also how we do it: with transparency, accountability, and a long-term vision.

“This achievement is a testament to our team's collective effort, and we remain dedicated to driving systemic, meaningful change across the global value chain."

U.S. Cotton Trust Protocol, the voluntary sustainability program for US cotton growers and traceability platform for all US cotton, has announced that one in four cotton acres now provides field-level data through its scheme.

In a statement, U.S. Cotton Trust Protocol said it has hit a new milestone for supply chain transparency, with 2.34 million planted acres now providing field-level data through its programme for the 2026 crop year, representing nearly a quarter of the 9.85 million total U.S. cotton acres planted this season.

The move reflects the commitment of US cotton growers to responsibly produce cotton, even as they navigate a challenging economic landscape, including fluctuating input costs, unpredictable weather, and shifting market dynamics.

Marjory Walker, co-director of the U.S. Cotton Trust Protocol, said: “The growers enrolled in the U.S. Cotton Trust Protocol are the foundation of a more transparent and responsible US cotton supply chain.

“Their dedication, especially given the challenges facing the cotton industry this season, is what makes it possible for brands and retailers worldwide to source independently verified, traceable US Cotton and demonstrate meaningful progress against their sustainability commitments.”

The U.S. Cotton Trust Protocol serves both ends of the cotton supply chain. For brands and retailers, the programme’s traceability solution provides the ability to track US Cotton, Protocol Cotton, and now US Regen Cotton, to finished product. For the growers, they gain access to actionable, data-driven insights that help build greater visibility into their environmental footprint, refine farming practices, and improve operational efficiency.

The Trust Protocol currently has more than 2,800 mill and manufacturer members across 56 countries and more than 55 global companies and their brands, including Ralph Lauren, PVH Corp., Walmart, Adidas, Under Armour, Levi’s, Carhartt, and Gymshark.

The Indian government has announced a new regulation prohibiting the import of goods produced or manufactured, either wholly or in part, through the use of forced labour.

The Ministry of Commerce and Industry issued the notification through the Directorate General of Foreign Trade, which inserts new clauses into the Foreign Trade Policy 2023. The legislative framework will officially take effect 30 days following its publication in the official gazette.

Under the new policy, the central government holds the authority to specify which goods will face import bans based on enquiries or other appropriate administrative findings. The formal definition of forced labour applied in the policy aligns directly with the International Labour Organization Forced Labour Convention of 1930, classifying it as all work or service exacted under the menace of penalty and not offered voluntarily.

The amendment represents a significant shift in the trade regulations of the country, introducing stricter compliance standards for international supply chains entering the domestic market. The procedures for conducting official investigations into suspected manufacturing practices will be carried out according to the guidelines outlined in the national handbook of procedures.

Ahead of its annual general meeting (AGM) being held at 9.30am BST today in London, British footwear brand Dr. Martens plc (Dr. Martens), released a trading update confirming that its operational performance since the start of the current financial year has been in line with management expectations.

Consequently, the group has left its guidance and market outlook for the financial year 2027 (FY27) completely unchanged.

Management confirmed it is on track to meet the strategic objectives outlined for FY27, including driving a full price revenue mix in the UK and Germany, Austria, and Switzerland regions, alongside launching new retail concepts across key cities globally.

In addition to these geographic and retail aims, the brand is preparing to successfully introduce an innovative new range of sandals. The company also intends to unlock further organizational benefits from its corporate operating model and technological infrastructure.

Looking at regional performance, the largest market for the brand, the US, continues to deliver growth. Wholesale trading within the US has been described by the company as particularly encouraging. In Asia, its largest markets, namely Japan and South Korea, are both performing well. Meanwhile, European markets are currently performing in line with corporate expectations against what the company described as a challenging consumer backdrop.

Dr. Martens operates in more than 60 countries and employs approximately 3,600 people globally. The company continues to honour its domestic manufacturing heritage through its 'Made in England' footwear range, which is manufactured at its original factory in Northamptonshire. Global consumer demand is met through multiple production sites located across Asia.

The brand distributes its collections through direct-to-consumer (D2C) channels, including both retail and e-commerce platforms, as well as via wholesale networks. Its product line-up spans from original silhouettes like the '1460 boot' and the 'Adrian loafer' to modern footwear franchises, a dedicated kids range, and small leather goods.

British retail giant Frasers Group has been given the green light to place a bid on the ailing luxury retailer, Harvey Nichols. The Sports Direct owner had previously demanded access to the sale process, yet its interest was contested by brands selling through the department store chain that had raised concerns over the potential takeover.

According to Sky News, which cited a memo from the retailer to brand partners, Harvey Nichols has now told suppliers that it was “obliged” to allow Frasers to participate alongside other interested parties, such as Next. The note added that including Frasers would enable a “robust and competitive process” as it continues the search for a new owner.

The sale process was reported to have kicked off last month, with financial advisors from FTI Consulting appointed to review strategic options for the department store. The decision comes after a challenging period for Harvey Nichols, which has struggled to keep pace with competitors.

A sale would bring to an end 35-years of ownership over the company for Dickson Poon, the billionaire entrepreneur who snapped up the retailer in 1991 for 53 million pounds. Poon has since remained chair of the company, and had appointed Julia Goddard as CEO two years ago to oversee the business’ long-term strategy.

In the memo, Harvey Nichols said it remained “encouraged by the level of interest in the business” from parties in both the UK and abroad.

Switzerland and Britain have concluded negotiations on an upgraded free trade agreement, Bern said Monday, saying the deal would boost legal certainty for businesses in both countries.

Following Britain's 2016 decision to leave the European Union, London swiftly concluded a trade agreement with Switzerland in 2019 to stake out their trade relations as two independent players outside the bloc, and to safeguard their mutual rights and obligations.

That agreement took effect in 2021, but two years later, the two countries launched negotiations towards a more comprehensive free trade deal.

Those negotiations concluded on Monday during a meeting in Bern between Swiss President Guy Parmelin and Britain's Trade Secretary Peter Kyle, the Swiss economic affairs ministry said in a statement.

"The new agreement goes well beyond maintaining the status quo and places bilateral economic relations on a comprehensive and modern footing," the statement said.

The agreement, it insisted, "safeguards existing preferential arrangements in trade in goods and provides for targeted improvements to market access".

"At the same time, it expands and modernises the bilateral legal framework, particularly with regard to trade in services, investment, the mobility of service providers and digital trade."

The deal, which still needs to be signed, "also includes provisions on financial services, telecommunications, public procurement, intellectual property, trade and sustainable development, and small and medium-sized enterprises", the ministry said, adding that the agreement would strengthen "legal certainty for businesses in both countries".

Bern maintained that the agreement also sent a clear "geopolitical signal".

"In an environment characterised by increasing fragmentation and uncertainty over trade policy, two major European economic powers outside the European Union are strengthening their strategic partnership and reaffirming their commitment to open markets, reliable rules and close economic cooperation," it said.

The ministry said the two countries aimed to have the agreement signed before the end of the year, followed by the required domestic approval procedures.

Richemont remains on a growth trajectory. The Swiss jewellery and watch group significantly increased its sales in the first quarter of the 2026/27 financial year, exceeding analysts' expectations. Products from its jewellery houses, Cartier and Van Cleef & Arpels, continue to be highly popular. The company announced on Wednesday that group sales climbed by 17 percent to 6.33 billion euros (7.24 billion dollars) between April and June, compared to the same period last year. At constant exchange rates, sales increased by 20 percent.

Richemont has therefore accelerated its already strong growth momentum. In the final quarter of the previous year, sales had grown by 16 percent at constant exchange rates.

The positive development continues to be driven by the jewellery business. Sales in the reporting quarter increased by 21 percent to 4.37 billion euros, and by 24 percent at constant exchange rates. Sales from the watchmakers, including brands such as IWC or Piaget, continued to lag behind with a sales increase of 6 percent to 873 million euros (up 8 percent at constant exchange rates).

Expectations exceeded

Richemont's sales figures clearly exceeded analysts' expectations. They had forecast group sales of 5.91 billion euros and growth of 11.5 percent in local currencies.

As usual, the group does not provide details on profit development for the first quarter. The management, led by chairman of the board Johan Rupert, also refrained from providing any forecasts.

Strong US growth

Regionally, the recovery in Asia was a significant contributor to Richemont's success. The group increased sales in Asia Pacific by 21 percent at constant exchange rates. Business in China, Macau and Hong Kong saw double-digit growth overall, where the luxury goods industry had suffered from weak consumer spending a year ago.

Meanwhile, demand in the US remains strong. In the Americas market region, Richemont's sales climbed by 27 percent. The Middle East and Africa achieved three percent growth, despite the crisis in the region.

Madrid – US president Donald J. Trump is continuing his unusual, unique and controversial policy of demanding the most only to ultimately impose the least. He has now announced his decision to scrap a 20 percent levy on all cargo passing through the Strait of Hormuz. The levy has been abandoned in favour of trade and investment agreements with the Persian Gulf countries.

Just over 48 hours ago, the US president used his official account on his social network, Truth, to announce that the US would impose a 20 percent levy on all cargo passing through the Strait of Hormuz. The purpose was to cover the costs of guaranteeing security in the maritime passage. Early on the afternoon of Tuesday, July 14 — East Coast time — he confirmed he was revoking that decision. This reversal, described as a 'U-turn' by various global media outlets, is consistent with Trump's established approach to US international relations. He consistently operates from an economic perspective, employing a strategy of making surprising demands only to later scale them back to reach a compromise that benefits the United States.

Following this pattern, the US leader again used his official Truth account to announce he is shelving his plans to impose the levy. This decision follows what he described as “very productive conversations” with leaders of Middle Eastern countries. These appear to have been negotiations rather than mere consultations, leading the US president to withdraw the toll. The economic benefits for the United States will be replaced by those generated through various trade and investment agreements in the country, to be undertaken by the Persian Gulf states. Trump emphasised that these treaties will create “millions of well-paid American jobs”.

“Following very productive conversations with Middle Eastern leaders, I have decided to replace the 20 percent United States reimbursement fee with trade and investment deals that the various Gulf States will be making in the United States,” Trump announced from his Truth account early on the afternoon of Tuesday, July 14, East Coast time. “These investments will be massive but, at the same time, extraordinarily beneficial for them, and for their future.” “As everyone knows, we have the largest dollar investment in the United States in history, but these new investments will make that number even larger, and we will see factories, plants, and equipment coming into the United States at historic levels, creating millions of new, well-paid American jobs.” With this resolution, “the United States is winning again, and we are doing it like never before,” the US president added.

Strait blockade for Iranian vessels

In the same Truth post, Trump reiterated his announcement from the previous day. He stressed that the Strait of Hormuz is open and safe for all maritime traffic, thanks to the United States military. This applies to all maritime traffic except for Iranian ships, vessels originating from or destined for the Persian country, or those carrying goods from Iran. All such vessels are prohibited from passing through the Strait of Hormuz.

“Oil is flowing like never before, thanks to the awesome military might of the United States,” the leader celebrated, before offering “a special salute to the secretary of war, Pete Hegseth; the chairman of the joint chiefs of staff, Dan Caine; and the commander of the United States central command, Admiral Brad Cooper,” because “thanks to them, and to all the members of the most powerful military in the world, the Strait of Hormuz is open to all maritime traffic.” To all, “except that of Iran,” as a “consequence of a lying, violent, and malicious leadership, which is leading them to total destruction.” “Consequently, we will impose a total blockade, but only on ships arriving at or departing from Iranian ports, or carrying anything related to Iranian cargo.” “The days of Iran murdering hundreds of thousands of people, including 52,000 protestors, are over, and, most importantly, Iran will never have a nuclear weapon.”

As Swiss watch brands contend with a reshaped US tariff regime and supply disruptions stemming from the conflict in the Middle East, Detroit-based Shinola is making its most ambitious brand statement to date. On Tuesday, the company unveiled its first-ever overarching brand campaign, "Set The Pace," reintroducing the Runwell, the watch that launched the brand in 2011, through a cinematic short film starring and directed by actor Nicholas Braun. The campaign also marks Braun's directorial debut.

The timing of the campaign is notable, considering the current scenario of the watch market in the US. Swiss watchmakers have spent the past year absorbing a volatile trade environment, after a 39 percent US tariff on Swiss goods took effect in August, and US-bound Swiss watch exports fell by more than half year-over-year in September as brands slowed shipments to a crawl.

The Middle East conflict has since compounded the pressure. The military escalation of late February 2026 triggered closures of the Strait of Hormuz, a full suspension of Suez Canal transits and widespread airspace shutdowns across the Gulf, forcing carriers such as Maersk to reroute via the Cape of Good Hope, adding eight to 15 days to transit times and layering emergency surcharges onto freight. The Middle East accounted for around 10 percent of the sector's exports last year, as Yves Bugmann, president of the Federation of the Swiss Watch Industry, told AFP in April.

Against that backdrop, Shinola's "Made in Detroit" positioning has a structural advantage. The brand's director of marketing Dana Mosa-Basha, however, resists the framing that Shinola is capitalizing on Swiss turbulence.

"That differentiation has never been about reacting to market conditions — it's about having an authentic point of view," she told FashionUnited. "We've never viewed Detroit as a marketing claim or a heritage story. It's simply the reality of how Shinola was built."

Since 2011, Shinola has assembled more than one million watches at its Argonaut Building headquarters in Detroit. The relaunch centers on three Runwell references — a 41mm, a 37mm chronograph and a 36mm mother-of-pearl edition — all assembled in the city.

"The Restaurant"

The campaign itself, the first major creative work under creative director Jonathan Bailey, marks a deliberate shift from product storytelling to cultural positioning. Developed with brand consultancy GentleForces and written by Quba Tuakli, it launches with "The Restaurant," a short film built around the sound of a ticking second hand. "This campaign isn't really about a watch," Bailey said in a statement. "It's about our relationship with time."

Mosa-Basha said the moment felt right because "culture had caught up to a conversation we felt uniquely positioned to have," pointing to growing consumer fatigue with acceleration and consumption. On the wholesale side, she noted that Shinola's story "continues to resonate across both wholesale and direct channels."

Following a landmark Supreme Court ruling, the US government under President Donald Trump has repaid billions in tariffs. A total of approximately 81.3 billion dollars was refunded from October 2025 to the end of June, according to data from the Treasury Department. In the same period last year, the sum was just under 5.3 billion dollars.

According to the US Congressional Budget Office (CBO), around 70 billion dollars were refunded in May and June alone. The refunds followed a mid-February ruling by the Supreme Court, which declared tariffs based on an emergency law to be unlawful. The Supreme Court found that US President Trump had exceeded his authority when he imposed extensive tariffs on dozens of trading partners.

At the same time, the US government significantly increased its tariff revenue in the current fiscal year. In the first nine months, from October to June, it collected approximately 163 billion dollars net in tariffs. This was 55 billion dollars more than in the same period last year, representing an increase of about 51 percent.

Before dressing the players of Málaga CF, seeing his garments displayed in over thirty concessions in El Corte Inglés and in his five own stores, Nabil Salah Mohamed sold counterfeit football shirts.

He bought them online and resold them to acquaintances and at market stalls, until an encounter with Customs made him rethink his path. He understood that he no longer wanted to sell other people's products, but to build his own brand.

From that decision, Harper & Neyer was born. The Málaga-based menswear brand is now presided over by Salah, who is its sole owner. This is the story of a founder who learned to grow with patience and discovered that, in business, knowing how to wait is also part of success.

A boy from Fuengirola with a flair for business

Salah, born in Fuengirola and aged 40, comes from a family of retailers. His father ran a shop in Torremolinos, where he quickly noticed that a large portion of the clientele was foreign. He studied business administration and management at the Alfonso X el Sabio University and completed a master's degree at Carlos III University. His first job was at a technology company, where he began to consider starting his own business.

When he chose fashion, the ambition was clear from the start: celebrate who you are. “We believe that every person—and every brand—must dare to be who they are. We say this because we have experienced it first-hand”.

“When we started, we lacked self-confidence. The beginning was hesitant; we looked at other brands and almost did a copy-paste of their collections. There came a moment of identity crisis when we decided to be ourselves, and that is precisely when we took off. That is where ‘celebrate who you are’ comes from,” he says.

“This is something that happens to almost all new brands. They take references from others without daring to have their own clear identity. That is our message to the industry. Making those kinds of decisions is very brave, and not everyone dares to make them. It is exactly at that point, however, that a brand truly begins to exist”.

Harper & Neyer is born

“Harper & Neyer was born from an idea and a lot of hard work, not from significant financial backing. We started practically from scratch, with very little capital and no safety net, and that has defined us from day one,” says the executive. “Starting with so little forces you to be profitable almost from the beginning. Every euro counts, you cannot afford to waste anything, and you have to validate the business with real customers before investing. That resource discipline remains part of the company's DNA. For us, it is also proof that a brand can be built from scratch with conviction and a clear head”.

The brand officially launched in 2013 in Fuengirola, with Salah and brothers Javier and Alberto Cerezo as partners and an initial investment of just 3,000 to 6,000 euros. None of them had previous experience with fashion brands. The first premises, lacking a business licence, forced them to move almost immediately. The business was sustained by minimal production runs and a shop window that served primarily to gauge public reaction.

The name, two English surnames combined, was a decision guided by instinct. Salah wanted something that sounded international and would arouse curiosity among locals, but would also be familiar to the many international visitors who choose to visit the Costa del Sol.

A struggle with debt

The turning point was not a success, but a crisis. Towards the end of the decade, the Cerezo brothers left the company and transferred their shares to him amidst continuous losses. Salah took sole command, facing a growing debt with banks and suppliers.

He saw the pandemic, which paralysed much of the sector, as an opportunity rather than a threat. This was consistent with his belief in navigating uncertainty well, where difficulties strengthen a company instead of sinking it.

From that period, he says he learned a lesson about leadership: “Leading in a crisis is not about having all the answers, but about supporting the team and making level-headed decisions when the pressure is on. We learned that cash is king and must be managed carefully. We also learned that uncertainty is managed with transparency and focus, and that separating noise from the real problem is one of a leader's most valuable skills. Above all, we learned that people are what sustain the company. Those moments, however tough, are precisely what forged our culture and our way of working. We emerged from them with a stronger company and a very clear idea of who we are”.

The numbers

On paper, Harper & Neyer had a turnover of 7.5 million euros in 2022, surpassed 10 million in 2023, and closed 2024 with 15 million euros and a profit of 1.5 million, operating solely in Spain. Data for 2025 has not yet been shared, although they expect a turnover of 20 million euros. The workforce is now around one hundred employees. The network combines its own stores in Málaga, Seville, Zaragoza and Murcia; thirty concessions in El Corte Inglés; a multibrand channel; and online sales. The stated goal is to reach one hundred million euros in 2030.

"Right now, we have five of our own stores. We are at a point where we want to grow our retail presence selectively, in prime locations,” he says. Regarding El Corte Inglés, he adds, “we already have 30 concessions in the youth department and six for the kids' line. It is a channel that works very well for us, and we continue to grow within it.” The stated goal is to reach one hundred million euros in 2030, an objective Salah confirms he is maintaining. In addition, the workforce is now around one hundred employees and the network combines its own stores.

In parallel, he wants the website to “expand into other countries” and become a powerful international channel, supported by a digital marketing budget he describes as “challenging”. The ultimate goal is not to push product, but for the customer to arrive with their purchase decision already made. In a sentence that summarises his ambition for the brand: “The objective is not to have to sell, but for them to buy from us”.

On Monday, the question was whether investors still believe in independent French textile brands. The initial public offering of Le Slip Français was set to provide some answers.

That moment has now arrived.

Only a few hours after the markets opened, it is still too early to speak of a stock market success or a definitive validation of the model. The debut of Le Slip Français on Euronext Growth Paris did not trigger a financial tidal wave. The initial indicators, however, already reveal something significant.

This initial public offering sends an important signal in an industry that has been profoundly weakened in recent years. The sector has faced a slowdown in consumption; a proliferation of bankruptcies among established retailers; pressure from international platforms like Shein and Temu; and difficulties in financing emerging brands. The signal is that investors are still willing to back independent French players, provided they present a clear, profitable business model capable of scaling.

Cautious but not ignored stock market debut

Le Slip Français made its debut on Euronext Growth Paris this Tuesday. The share was introduced at 14.80 euros, valuing the company at 19.2 million euros.

According to information from Euronext, the offering was oversubscribed, with demand 1.15 times the number of shares available. A total of 13.7 million euros in demand was registered. This included 8.11 million euros from institutional investors and 5.64 million euros from over 7,250 retail investors.

This is a notable figure in a context where IPOs of independent French fashion brands remain extremely rare.

The transaction represents a total fundraising of 13 million euros, but this sum requires careful analysis. Five million euros correspond to a capital increase intended directly for the company's development. Approximately eight million euros relate to the sale of shares held by existing shareholders.

In other words, the IPO is financing a new phase of growth while also providing partial liquidity for some early investors.

Positive first session, but no frenzy

The share's performance during early trading offers an initial insight. Introduced at 14.80 euros, the stock reached approximately 15.90 euros in early trading before losing some of its gains and returning close to its introduction price later in the morning.

Should this be seen as a mixed signal? Not necessarily.

After only a few hours of trading, it is impossible to assess a long-term trend. The first few sessions are often marked by significant volatility. This is particularly true on Euronext Growth, a market dedicated to SMEs and growth companies, where trading volumes are inherently more limited than for large-cap stocks.

The most interesting aspect is therefore not just the share price, but the brand's ability to have found investors willing to support its project.

A complete lack of interest, an immediate drop, or strong distrust would have sent a much more concerning signal.

The market's initial reaction therefore seems to reflect cautious support rather than speculative enthusiasm.

Real challenge: transforming a brand story into economic performance

“We want to show by example that ‘Made in France’ is efficient and competitive,” explained Guillaume Gibault, CEO and founder of Le Slip Français, as quoted in the communication related to the operation and reported by Reuters at the end of June.

This sentence summarises the real challenge of this IPO.

Le Slip Français does not just sell underwear. Since its creation in 2011, the brand has built its proposition on three pillars: French manufacturing; a strong cultural identity; and a community of engaged consumers.

The financial market, however, does not just value a story. It now looks at a trajectory.

The company achieved a turnover of 21.1 million euros in 2025 and returned to profitability with a net profit of approximately 700,000 euros, following a strategic repositioning initiated in 2023.

This transformation is probably the most important element of the case. After facing difficulties in the post-Covid-19 period, the brand revised its model, notably by reducing its physical network, refocusing on digital, and adjusting its price positioning.

Le Slip Français, which once had around 20 stores, now only has two. At the same time, the average price of its products has reportedly been reduced from around 40 euros to 20 euros to broaden its customer base.

The message sent to investors is therefore different from that of its early years. The brand is no longer just seeking to embody a French industrial ideal; it wants to demonstrate that a local model can be profitable.

Made in France as an economic asset

The IPO comes as the French textile industry is going through a complex period. Established retailers are facing declining volumes, pressure on margins, and competition from platforms capable of offering extremely low prices.

In this context, the positioning of Le Slip Français is its main asset. The brand is not trying to compete with the volumes of global textile giants. Its gamble is based on a different equation: transforming its identity, built on local manufacturing, traceability, and industrial commitment, into an economic advantage.

The fundraising is intended to accelerate production capacity, strengthen the brand, and further develop its manufacturing activities for third parties.

The objective is therefore not only to sell more underwear but to become an industrial player capable of supporting other brands with their French production.

Community brand becomes a listed company

One of the most interesting aspects of this operation is the role given to retail investors.

With over 7,250 individual shareholders, Le Slip Français is attempting a symbolic transformation: converting a community of customers loyal to the brand into a community of investors.

This is a model that some brands are now seeking to develop, turning proximity to their consumers into a financial as well as a marketing advantage.

This logic, however, also brings a new requirement. A community can support a brand during an IPO. It does not, in the long term, replace the need to demonstrate profitable growth.

At 11:30am, a positive first signal, but the real test is yet to come

Only a few hours after its stock market debut, it would obviously be premature to draw definitive conclusions about the trajectory of Le Slip Français. The initial trading does not yet allow for an assessment of long-term investor appetite, especially as detailed volumes are yet to be analysed. Several signals, however, are worth noting.

First, the 1.15 times oversubscription of the offering is a favourable initial indicator. In a market where investors are particularly selective regarding fashion players, the brand has managed to convince more than just its existing customer base.

The mobilisation of over 7,250 retail shareholders is also a notable element. For a textile SME, this ability to transform a community of consumers into a community of investors represents an interesting intangible asset.

Finally, the share's performance during the first few hours of trading appears rather reassuring. After rising to approximately 15.90 euros in early trading, the stock returned close to its introduction price without experiencing a sharp decline.

In the context of a listing on Euronext Growth, the absence of an immediate market rejection is in itself a positive first signal.

Caution is still necessary.

A variation of a few tens of cents on the day of the IPO is not enough to validate a business model. On a market like Euronext Growth, which is less liquid than the main compartments, movements can be amplified by still-limited volumes.

The real test begins now: transforming initial investor support into sustainable value creation. Le Slip Français will have to demonstrate its ability to achieve the ambitions presented during its IPO. These include doubling its turnover by 2030 and exceeding a 10 percent operating profit in the medium term. It must also prove that a French textile model can combine identity, profitability, and growth.

The stock market has given Le Slip Français the benefit of the doubt. It now awaits proof. The IPO on Tuesday is not the culmination of an adventure. It is the beginning of a new phase, one where a brand born from a manifesto must now convince the markets.

US-based eVent Fabrics has announced a partnership with Chinese outdoor brand Pelliot to bring its PFAS-free alpineST and windstormST laminates to the Chinese outdoor market, in a deal both companies frame as a step in the industry's shift away from so-called "forever chemicals."

Under the agreement, Pelliot will use eVent's alpineST laminate — a PFAS-free membrane paired with performance face fabrics and a C0 durable water repellent finish — in its spring/summer 2027 alpineST Hard Shell Jacket. The windstormST laminate, which combines eVent's plant-based membrane with recycled and lower-impact face and backer fabrics, will feature in the brand's FW26 windstormST Soft Shell Jacket.

PFAS, a class of synthetic chemicals long used to deliver water repellency in functional textiles, has come under mounting regulatory and consumer scrutiny, making PFAS-free alternatives a commercial as well as environmental consideration for outdoor brands.

"As one of the fastest growing outdoor apparel brands in China, Pelliot is a volume leader, which means this partnership could have a real effect on attitudes towards PFAS in China's explosive, multi-billion dollar outdoor sports market," said Chad Kelly, vice president of eVent Fabrics, in a statement.

Zhao Le, vice president of Pelliot, said the transition toward PFAS-free and low-carbon textiles is "not only an inevitable industry trend but also a fundamental responsibility and mission for leading brands."

Founded in 2012, Pelliot specialises in gear for mountaineering, hiking, travel and skiing, and claims the largest community of Seven Summits and polar trekking enthusiasts in China. The brand is the exclusive apparel supplier to the International Skating Union and the International Ski Mountaineering Federation, an official partner of the 2026 Dakar Youth Olympic Games, and apparel partner to several National Olympic Committees.

The partnership gives eVent a foothold in China's fast-growing outdoor segment, where domestic performance brands are increasingly competing with established international labels on both technical credentials and sustainability claims.

Adidas closed the first half of 2026 as the sportswear industry's most visible brand, generating 1.9 billion dollars in Media Impact Value (MIV) between January 1 and June 30, according to data from Launchmetrics. The figure represents a 12 percent increase over the second half of 2025 and places the German brand ahead of Nike, which recorded 1.7 billion dollars over the same period. But a closer look at the data reveals how much of that lead rests on a single name: Lionel Messi.

Four of Adidas' five highest-value placements in the first semester were posted by Messi himself, led by a top placement worth 2.7 million dollars in MIV — Launchmetrics’ MIV algorithm assigns a monetary figure to brand exposure across social media, online publications and print. The Argentine was also the brand's top-earning celebrity voice for the period, generating 14.4 million dollars, and his influence extends beyond his own channels. His wife, Antonela Roccuzzo, ranked among Adidas' top influencer voices with 5.3 million dollars in MIV, part of an Influencer category that grew 30 percent for the brand, its fastest-growing Voice of the semester.

This year's FIFA World Cup marks two decades since Messi's tournament debut in Germany in 2006, the same year he switched from Nike to Adidas. He later formalized his relationship with the latter brand through a lifetime contract in 2017.

The dependence cuts both ways. All five of Adidas' top placements for the semester were soccer-related, and with Messi, now 39, playing what is widely expected to be his final World Cup, the brand faces an open succession question once the tournament ends.

Nike, by contrast, spread its bets. Four of its five top placements were also soccer-related — the highest, worth 2 million dollars, tied to its "Rip the Script" World Cup film — but its fastest-growing voice was celebrity, up 37 percent, and its top name for the period was not a footballer. Tennis player Jannik Sinner generated 15.5 million dollars in MIV for the brand, ahead of Real Madrid's Vinicius Jr. at 10 million dollars, with Aryna Sabalenka also ranking in the top five at 7.5 million dollars.

A distant third

Puma, third in the ranking at 421 million dollars, tells a similar story of star dependence at a smaller scale. Three of its five top soccer-related placements came from Neymar Jr., while its fastest-growing voice was owned media, up 40 percent — led by Puma Football (24.4 million dollars) and Puma India (17.7 million dollars), a signal of where the brand sees its next audience. Unlike its larger rivals, Puma showed no June spike, suggesting the World Cup build-up largely passed it by.

The top 10 brands continued with New Balance closing behind Puma at 377 million dollars in MIV. Alo rounded out the top five with 249 million dollars, narrowly ahead of Lululemon at 228 million dollars and Gymshark at 205 million dollars. The North Face and Asics tied at 171 million dollars, taking eighth and ninth place respectively, while Reebok closed the top ten at 127 million dollars.

Madrid – Not in the morning, nor at midday, nor in the afternoon. It was only after the markets had closed that Adolfo Domínguez announced the cancellation of its results publication, scheduled for this past Monday, July 13, 2026. This decision stems from an adjustment to its financial reporting calendar. Under this new policy, the Spanish fashion multinational will no longer report its quarterly results.

To provide context, on July 8, less than a week ago, the management of Adolfo Domínguez informed the National Securities Market Commission (CNMV) via a statement that the company planned to release its results for the first quarter of its new 2026 fiscal year on Monday, July 13. This three-month period runs from March 1 to May 31. During the same period in the previous 2025 fiscal year, the company recorded total net sales of 24.07 million euros at the close of the first quarter, a decrease of 0.06 percent compared to the previous year. This decline resulted in a net loss that was slightly reduced by 6.61 percent to -1.75 million euros.

Following this lacklustre performance, and after the strong financial data with which the company closed its 2025 financial year, there was considerable interest in how the Galician fashion group had started the new 2026 fiscal year. The company reported sales of 139.02 million euros (+1.84 percent) and a net profit of 1.64 million euros (+80.58 percent) for 2025. This is the year the company is celebrating the 50th anniversary of its founding. However, the Spanish fashion multinational has decided not to report on its sales and profit figures until the presentation of its half-year results. This decision will affect all its annual financial information publication calendars from now on.

Cancellation of quarterly financial information

In a surprising and noteworthy announcement, especially considering the quarterly results publication was dated July 8, Adolfo Domínguez confirmed on Monday, July 13, after the markets closed, that it was cancelling the scheduled release of its first-quarter 2026 information. This announcement was nullified following a decision by its board of directors. The company will now cease reporting its quarterly information, limiting itself to what it has defined as the “currently applicable legal requirements”.

Elaborating on the details of the announcement and this change in its financial reporting policy for shareholders and investors, the management of Adolfo Domínguez stated in another communication to the CNMV that the company's board of directors held an ordinary meeting last Friday, July 10, 2026. During this meeting, the governing body of the Spanish fashion multinational agreed to adjust its periodic financial reporting calendar to the “currently applicable legal requirements”. As a result of this change, the company will cease the “voluntary publication” of its quarterly financial information. It will henceforth limit itself to the periodic publication of its half-yearly and annual results and financial information reports, which Adolfo Domínguez emphasises are the “only legally required” ones.

In an attempt to quell any alarm about potentially concerning or disappointing first-quarter 2026 results, which might have prompted this last-minute adjustment to its financial reporting policy, Adolfo Domínguez asserts that “this decision responds to a strategic reflection by the board of directors on the company's financial communication model, in line with the regulatory framework and observed market practice”. They add that “the board considers that this new model promotes a more structural view of the business's evolution and contributes to a more efficient allocation of internal resources dedicated to the preparation and verification of periodic financial information”.

After adopting this change, which “consequently” “nullifies the initially communicated announcement of the publication of the first quarter results for the 2026/27 financial year”, Adolfo Domínguez “reaffirms its commitment to transparency and fluid communication with its shareholders, investors and the market in general, based on criteria of quality, completeness and long-term sustainability”. The company adds that it “will continue to report its results and any other information that must be communicated in a timely manner”. This statement could be questionable given the abrupt change in its financial reporting policy, but Adolfo Domínguez reinforces it by stating it will be done “in accordance with applicable regulations”.

New financing agreement

In the latest update on the company, Adolfo Domínguez announced in a statement issued early this Tuesday morning, July 14, that the group has signed a new framework financing agreement with its banking pool. Under this agreement, the company will increase its current short-term financing lines by 5 million euros to a total of 28 million euros. It will also formalise a new long-term financing operation for a total of 6 million euros.

This framework financing agreement was signed with the banks Abanca, CaixaBank, Banco Santander, BBVA and Bankinter. Combined with the last-minute cancellation of the first-quarter results presentation, it raises questions about the company's current situation. The board of directors of Adolfo Domínguez stated, “this operation allows Adolfo Domínguez to strengthen and balance its financial structure, providing the company with greater flexibility to meet its operational and investment needs”. They also added that the company “maintains its commitment to linking its financing to sustainability criteria”.

Madrid – In the latest update on the ongoing conflict in the Middle East between Iran and the US, and the status of the strategic Strait of Hormuz, US president Donald J. Trump has reaffirmed that the maritime corridor remains open for the passage of goods. This security guarantee is provided by the US, and as a result, a 20 percent toll will now be imposed on all cargo passing through it.

President Trump made the announcement, as is now customary, via his official account on his social media platform, Truth. He used the platform on this occasion to announce that, contrary to claims by the Republic of Iran, the Strait of Hormuz remains open. This came just after he congratulated himself on falling gas and oil prices and offered his condolences on the death of Senator Lindsey Graham, stating that flags across the country would fly at half-mast in his honour until 6pm EST on Saturday.

US imposes 20 percent toll on all cargo passing through Strait of Hormuz

The announcement initially seemed to clarify the volatile situation in the strategic maritime passage since the conflict between Iran, Israel and the US erupted on February 28, 2026. However, Trump himself dispelled any sense of stability by adding two further points. First, the US has reinstated an “Iranian blockade” in the strait, which will prevent the entry and exit of all Iranian vessels or those carrying oil and goods from the Persian country. Second, with immediate effect, the US is imposing a 20 percent toll on all cargo passing through the Strait of Hormuz. Trump defends this fee, stating it will compensate the US for the costs incurred in ensuring safe passage through the strait.

“The Strait of Hormuz is open, and will remain open, with or without Iran,” the US president began his message on Truth. However, the president continued, “we are reinstating the ‘Iranian blockade’, so-called because it only prevents the entry and exit of Iranian vessels or customers.” Apart from that transport, Trump detailed, “all other countries will enjoy fair and free passage through the strait.” “The United States will, from this moment on, be known as ‘The Guardian of the Strait of Hormuz’, but as such, and as a matter of justice, it will be reimbursed, at a rate of 20 percent on all cargo transported, for each and every one of the costs necessary to carry out the task of providing security and protection to this very volatile region of the world,” the US president defended. A toll on all cargo passing through the strait, the “constitution of which will begin immediately,” the president added.

Address to the nation on Thursday, July 16

Following this latest announcement on the situation affecting the Strait of Hormuz, and further messages related to the death of Senator Lindsey Graham, Trump's Truth account announced that the US president will deliver an address to the nation this coming Thursday, July 16. He will deliver the speech during prime time, at 9pm EST, but no details have yet been provided about the content or topics Trump will cover in his address.

Supply chain software startup Auger, co-founded by former Amazon CEO worldwide consumer Dave Clark, has closed a $50 million Series B, pushing its total funding to $150 million. Eclipse led the round, joined by returning investor Oak HC/FT.

“More and more enterprises are reaching the same conclusion: autonomy is their future. And almost no one can actually deliver on that promise. We raised now to move faster toward where our customers are already headed,” Clark announced on his LinkedIn on July 9. GeekWire broke the news.

“This round accelerates the build: the new products our customers are asking for, and more sales and solutions engineers next to the enterprises that want them. We are reinventing the operating systems of the physical economy. If you are up for that challenge come check us out, we are hiring,” Clark said.

Clark built his reputation over 23 years at Amazon, where he oversaw the company's global delivery operations, and later spent about a year running freight forwarder Flexport. He started Auger in late 2024, roughly two years after leaving Amazon.

Auger's mission

On its website, Auger says its mission is "to build a future where execution is autonomous and operators are superhuman." Rather than functioning as another dashboard or alert system, its platform plugs into a company's existing ERP, warehouse, transportation and demand-planning tools, then lets AI agents make routine operational calls on their own, flagging only exceptions for a human to review. Microsoft's Azure underpins the product, and Auger holds status as a supply chain partner within Microsoft Fabric.

Fanatics, Kimberly-Clark and Meta's Reality Labs unit are named customers, with roughly eight to ten additional companies working through pilots or contract talks. According to GeekWire, Auger aims to generate more than $1 billion in revenue by 2030.

Researchers at the National Institute of Standards and Technology (NIST) have developed a candidate textile material that can be tested by laboratories to validate and improve methods for recognising and classifying textiles, which could potentially reduce manufacturers’ costs.

Known as Research Grade Test Material (RGTM) 10279, the textiles for feedstock identification feature a set of five fabric squares all made from different fibres, both dyed and undyed. These reference squares can then be used by the recycling and sorting community to improve methods for identifying the fibres in textiles to help ensure that textiles are efficiently sorted, increase recycling and repurposing, while also reducing waste and disposal costs.

Amanda Forster, materials research engineer at NIST, said in a statement: “This textile material will help validate sorting methods and make textile sorters’ measurements comparable from one centre to another.

“This lays the foundation for expanding supply chains and increasing the recovery of the economic value from textiles and clothing in the US.”

NIST states that while more than half of all clothing and other textiles are suitable for recycling, most of them aren’t repurposed. The high volume of donated clothing and the slow, labour-intensive process of manually sorting fabrics means they aren’t always reintroduced into the domestic supply chain to make new products. It hopes that this new candidate textile material will help better identify and sort textiles and fabrics.

The next step for NIST is to see how its reference material works in the real world and is asking the recycling and sorting community to use RGTM to explore whether it is suitable for assessing the accuracy of sorting methods and to help validate the algorithms that identify the fibres in textiles and clothing.

Textile sorting facilities can also explore how the RGTM can be useful for production quality control, especially as many new types of textiles are blends of different fibres that are hard to identify.

“This material also provides a way to detect things that aren’t reported on the label, which is important for recycling,” added Forster.

NIST also believes that RGTM could be useful before a piece of clothing is designed, to verify the composition of the fabrics, ensuring that brands are receiving the exact materials they paid for, as well as potentially being used to check whether luxury goods are fake.

“We’ve identified an industrywide measurement challenge,” said Michelle Seitz, researcher at NIST. “Standards like this RGTM help improve textile identification and sorting, which supports advances in AI-enabled sorting of textiles and US manufacturing and industry.”

"The Strait of Hormuz is a vital maritime corridor for world trade," stated the United States Central Command (CENTCOM) in a press release. The command stressed that "Iran does not control it" and that US forces remain deployed and prepared to "ensure that freedom of navigation continues to be available for commercial shipping."

This is the latest official update from the US government regarding one of the world's primary logistics corridors. This key infrastructure for international trade is also highly relevant to the fashion industry. Since the military offensive began in the region, maritime traffic through the strait has been reduced to a fraction of its usual capacity. The threat level continues to be considered severe. This situation is forcing shipping companies, logistics operators and businesses to rethink their routes and supply chains.

The figures reflect the extent of this disruption. According to the most recent estimates from Windward Maritime Intelligence, on July 11, only 21 commercial vessels passed through the strait, compared to the nearly 140 daily transits recorded before the conflict broke out. Other sources report different figures, although all agree on a very sharp drop in traffic. This discrepancy is largely due to the difficulty of monitoring real activity in the area. A growing number of vessels are crossing as dark vessels, with the AIS automatic identification system disconnected to reduce the risk of becoming a target. Added to this is the constant interference with GNSS satellite navigation systems, which further complicates the tracking of maritime traffic.

Iran maintains a completely different version

The Persian Gulf Strait Authority, an organisation controlled by Tehran, has stated that recent movements by US forces, which it deems illegal, are currently preventing navigation through the strait. The Iranian authority stated that transit requests will be reviewed once the situation normalises and will be processed in order of priority. This follows the Revolutionary Guard's announcement that it was closing the passage until further notice. The Guard also attacked two commercial vessels for allegedly violating navigation rules imposed by Iran.

For this reason, the United Kingdom Maritime Trade Operations, a leading global authority on commercial shipping safety, and the United States Naval Forces Central Command (NAVCENT) continue to consider the strait as international waters. Both organisations maintain the security threat level in the severe category, the second highest level in the classification.

Despite this, the United States Central Command insisted on Sunday that the strait remains open to all vessels wishing to transit legally. It reiterated that Iran does not control this waterway, despite recent attacks on commercial vessels. President Donald Trump later repeated this message in an interview with NBC.

The origin of the dispute lies in the interpretation of the Islamabad Memorandum of Understanding, signed last month as part of the ceasefire. The agreement establishes that Iran must allow toll-free passage for commercial vessels for at least 60 days while peace negotiations advance. It also requires Iran to open talks with Oman to define the future administration model for the Strait of Hormuz.

The current escalation was triggered on July 11, when the Iranian Revolutionary Guard attacked and set fire to a Cyprus-flagged container ship passing through the strait. After that episode, Tehran again declared the waterway closed and the United States responded with an air offensive against around 140 Iranian military targets.

Tension continues to rise. During Monday morning, the Revolutionary Guard launched a retaliatory operation against US military bases located in Jordan, Bahrain and Kuwait. Jordan claimed to have intercepted four missiles, while Kuwait reported that it was neutralising several hostile air targets. For its part, Bahrain activated emergency sirens and urged the population to remain sheltered.

Pas Normal Studios (French for ‘not normal’) is a Danish cycling brand focused on ambitious cyclists. With its minimalist design, it is currently one of the most sought-after brands in the segment. The brand is currently opening stores from Munich to Beijing and collaborating with established brands like the hyped outdoor brand Salomon. Its origins, however, actually lie in fashion.

Behind Pas Normal Studios is Karl-Oskar Olsen, who co-founded the Danish menswear brand Wood Wood in 2002. Before launching the cycling brand with CEO Peter Lange, he used the name as a slogan on Wood Wood T-shirts. This was an allusion to a quote from professional cyclist Lance Armstrong, who used it to shift the focus onto his competitors during the doping debate. The design evolved into its own brand and success story.

Despite jersey prices starting at 160 euros, the brand is aiming for double-digit growth. Lange explains how this is being achieved and the strategy behind it in the interview.

Your latest collaboration with Salomon goes beyond cycling. Does the bicycle remain the focus, or will you become a broader sports and lifestyle brand?

Cycling is and remains our main focus. A collaboration like the one with Salomon is good for reaching new consumers within cycling who may also be active in other sports. We know that many runners ride bikes to give their bodies some variety during intensive training.

So you are focusing on the versatility of cyclists and less on covering other sports.

Running sportswear is interesting for us because it's very close to our DNA. In modern cycling, it's also common to do strength training once or twice a week to strengthen the neck and the lower back. Participants in a cycling race do not show up in a T-shirt and jeans; they wear sportswear. Running apparel and sportswear styles are therefore closely connected to the ambitions of cyclists.

What is the scope of the off-bike segment in your range?

We expand our off-bike segment very cautiously, adding a few styles year over year, because it's not our focus. We concentrate more on aesthetics and performance in cycling, which accounts for 80 percent of our business.

Within training, there are also fewer gradations. We can do more specialised winter styles or styles for very hot summers. Since we have a strong presence in the Asia-Pacific region, we naturally need more summer styles and lighter jackets.

And for other products like running shoes, do you rely on collaboration partners?

Exactly! There are many other brands with more expertise in developing something for dedicated runners – in shoes, but also in specialised split shorts and everything that is very sport-specific in other categories.

Are there any other collaborations coming up that you can reveal details about?

There's one more coming with Salomon in autumn, which will close out the three-year collaboration for now. Next year we'll start a new collaboration, which unfortunately I can't say anything about yet.

Do your collaborations always run over a longer period, or can they also be short-term projects?

It's a mix. A three-year collaboration isn't always in the cards. Sometimes it's a shorter partnership that works for a special event or activity, for example. We're not that locked into our collaboration strategy in terms of timing and drops. What matters more is: do we see a brand fit, and do we see added value for our consumers?

Sportswear is currently performing better than other categories. Do you see this in your own range – with athletic versus fashion-led pieces?

No, that's very difficult for us to see, because off-bike styles only account for between 15 and 20 percent of our revenue. It's very difficult to segment growth across the different collections, as they follow one another.

From conversations with retailers in that segment – some of whom ask for products – we know that it's difficult for them. It's difficult in cycling, too, though. But we're doing well.

What does that mean for the financial year?

Our goal is double-digit growth. We are currently on track, so we expect to achieve it.

With cycling jerseys starting at 160 euros, you are in a higher price segment. How do you justify this price to your customers?

We chose this price point because we want to offer our consumers quality – in terms of fit, but also the material as well as the durability and sustainability of the materials. And that comes at a price. We have a very loyal customer base.

We target dedicated cyclists, and they place great value on aesthetics and performance. They want something that fits well and doesn't fade after three or four washes, because it's fully dyed. We do a lot of testing and work intensively with sample sizing to make sure we have a quality product.

Do you also benefit from the growing road cycling trend, where even beginners are impeccably styled?

We can see consumers moving in that direction. Our aesthetic has an everyday appeal, and we naturally also try to match the contemporary look.

If you go back a few years, cycling clothing consisted mainly of team jerseys. It was black, with garish colors, lots of logos, and made from cheaper material. The fit was such that the jersey would slip down at the back as soon as you put something in the rear pocket.

Cyclists today pay more attention to looking good – not in a fashionable way, but in a stylish, sporty way. Many running brands have taken this approach for years. Cycling, however, is newer in this approach than other sportswear categories.

Which styles are particularly popular with your community?

It changes every season. But our color world is rather down to earth and a little inspired by Scandinavian and Japanese minimalism.

Then there are also pieces in the collection where we use bigger logos – that looks more like a team set, like the Pro Tour. And of course we have limited collections within our collections, like TKO, in which Karl [ed. note: Karl-Oskar Olsen], my partner and creative director, explores creativity on another level and brings it into the collections. It's simply different needs for different purposes.

Do you see differences between regions?

The markets in Northern Europe, including Germany, are very similar – as is Europe as a whole, really. In the US, on the other hand, people like a bit more performance color and logo presence. And in Asia, they love limited editions. Things that are out of the ordinary and much more colorful.

Are these also your core markets?

Yes, our core markets are Northern Europe, the US and China.

How is turnover distributed across the markets?

40 percent of turnover comes from Europe, 40 percent from the Asia-Pacific region and 20 percent from North America.

You also operate your own stores in all regions. Do you plan to expand your retail network further?

Yes, we just opened a store in Beijing and are already present in Singapore, Shanghai, Copenhagen, Munich, Mallorca and San Francisco.

There are many different ideas in the works, but we haven't decided which city is next. That depends on what's coming in 2027/28. At the moment, only franchise stores in the focus market China are on the table, and they could come within three months.

What about in Europe or the US?

Definitely, but we don't want to open our own stores by default. We like to work with local retail partners if they are strong and meet our requirements. Then we don't need a flagship store.

However, if there's a location like Munich, where we couldn't find a partner and there was great potential, then we open our own store. So over time, we'll look at whether we need to invest in a market to develop it further. And then we either find a partner or do it ourselves.

Your own stores are more than just points of sale, serving as starting points for ride-outs, among other things. What is at the heart of the concept?

Most stores are strongly community-based. A store like the one in Mallorca is naturally much more community-oriented than our stores in Copenhagen. The one in Beijing is located more centrally, where there's more foot traffic.

It depends on what is needed locally. Is the focus on the community because we need to reach consumers and develop the cycling trend? Or is it more about the commercial side, meaning we need a location with high footfall? We decide that when we target a market.

What role does the actual sales process still play at the physical locations?

I firmly believe that brick-and-mortar retail is important. It is a balance. People can touch and feel the brand, interact with our sales staff and get closer to the brand. It gives you the opportunity to really open up to your own consumers. You can't do that by focusing only on online retail or a pop-up event. The retail stores are an investment in our consumers. For pure brand awareness, we also do pop-ups.

Financial crises, pandemics, geopolitical turmoil – for Marco Götz, a state of emergency is the norm. The Drykorn founder is correspondingly calm when looking back on a first half-year that saw the Kitzingen-based label suffer a significant loss in menswear due to the Wormland insolvency.

In an interview with FashionUnited, Götz discusses growing international markets, the shift in tailoring and the new dual leadership with co-CEO Marino Edelmann.

Mr Götz, how was the first half of the year for Drykorn?

It was stable. We experienced a major insolvency with one of our clients, Wormland. This created some imbalance in the menswear division and made things more challenging. We have since compensated for this and will continue to improve through expansion into international markets. In womenswear, we are still seeing good growth.

Which markets are you focusing on?

We are currently most active in Central Europe. Two years ago, we added Spain and Greece, which are developing very positively. Overall, everything in the resort and holiday locations is performing extremely well – Mallorca; Ibiza; the Spanish coast; and also the ski resorts.

Why are these holiday regions developing so well?

We are observing different purchasing behaviour there. In these resort locations, it is all about ready-to-wear. Customers can wear it immediately; it is not bought to be stored.

The high-fashion part of the collection is not automatically sold alongside it. It is more about customers having forgotten something for their holiday or looking for something that suits the weather.

Which pieces are currently selling well at Drykorn?

Trousers and knitwear continue to perform well, in both womenswear and menswear. In tailoring, we are currently undergoing a transformation for men. We no longer have a slim-fit suit in the collection and are moving towards 'loose' and relaxed styles. It will take some time for this to become truly commercial, however.

What topics are currently on the minds of your retail partners?

Delivery dates are a classic issue. When do you deliver what? We have been dealing with this for 25 years and there is always room for improvement because we are constantly reacting to information from previous seasons. Added to this are different weather conditions and geopolitical factors, which lead to a certain price sensitivity.

The issues are not really different from previous years, but things have not become worse either. There are always a few points of discussion that become sticking points. Considering what is happening in the world, the situation is actually stable.

Do you see this way of dealing with the crisis mood as a bit of a 'new normal'?

For me, the 'new normal' began 30 years ago when I started in the industry. It was challenging even then and everyone said: “Do something else, just don't go into this industry.” In the meantime, we have had everything from 9/11 and the financial crisis to Brexit, Trump, Covid-19 and the war in Ukraine. There is always something.

Normality is that something unforeseen always happens. There are many different influences that repeatedly make the situation challenging, but that is precisely what is normal. Perhaps there is a brief phase where nothing happens, but it usually does not last long.

Marino Edelmann has been co-CEO at Drykorn since June. How did this decision come about?

I had been considering this for a long time because my areas of responsibility had simply become too diverse. Ten years ago, the structure was clearer: there was product; sales; HR; and production. Now, areas such as technology and corporate development have been added, and marketing was not even a topic for us in the past. Sales has also become much more varied.

Previously, there was a clear path: managing channels through wholesale. Today, we have our own stores, which we will continue to push; e-commerce, which we are expanding; and various concession models, all of which are different.

Are you planning to expand the management team further in the long term?

For now, it is stable as it is. We are well-positioned for our size. The question now is more about what the new goals are and what new approaches we can take.

What are they?

We have not seized many opportunities – including in terms of sales, international markets and expansion – because we lacked the manpower.

You just mentioned your own stores. The new store in Düsseldorf recently opened. What is the strategy for this area?

We have a store concept that we will also roll out in other cities. It always has to be the right opportunity. Simply opening a shop for the sake of opening a shop makes no sense. We open a store with the intention of making money from it – we will not open a store purely as a brand ambassador.

We are working on several other locations and are in good discussions in a number of cities, but it really has to be the right fit.

A few years ago, you also tested the international waters with a pop-up in Zurich.

That was really just an opportunity because a client wanted to implement it together with us. It is very important to us to do things together with our partners. We have enquiries from abroad – from Switzerland, Austria and the Netherlands. There are interesting possibilities there, and anything can happen.

Finally, how do you plan to close the year?

We are planning for growth and will hopefully be close to double-digit growth. It is also possible that it will remain in the single digits. Under conditions where you are not necessarily going full throttle, that would be fine.

The market, especially wholesale, is very shaky. Many retailers are struggling but are now finding their footing again. What is needed now is the courage to take a new or different step. That is why we are not going into next year with total euphoria, but we will definitely generate growth.

Fashion titan Shein has won approval from China's market watchdog for its initial public offering application in Hong Kong, the China Securities Regulatory Commission said in a statement on Friday.

Shein's plan to sell up to 341.6 million shares and list on the Hong Kong stock exchange is approved, the CSRC said.

Plans to list the company in New York and London had been held back in recent years by regulatory hurdles, according to media reports.

A vast selection of products at stunningly low prices has boosted the popularity of Shein, along with China's Temu and AliExpress, bringing them into the same league as Amazon in the US.

Founded in 2012 by Chinese-born entrepreneur Xu Yangtian, Shein moved to Singapore in 2021 and sells trendy clothes in more than 150 countries.

With most of its factories located in China, Shein sets itself apart from its so-called fast fashion competitors through the speed at which it designs products and a highly efficient supply and production chain.

Xu pledged to allocate greater resources to the southern Chinese province of Guangdong earlier this year, seeking to leverage the efficiency of the local garment supply chain and the international logistics network.

He said at the time that the Chinese Communist Party and the provincial government had given crucial support to Shein.

Shein's platform exports exceeded 100 billion yuan (14.5 billion dollars) in 2025.

'Selective reopening'

Beijing's approval signifies that "China is still supporting Hong Kong as a major offshore capital raising platform", Kelvin Lam, a China-focused economist at Pantheon Macroeconomics, told AFP.

The US regulatory ban on Shein's listing bid in New York, which cited supply chain issues, reflected the geopolitical risks involved in listing abroad, Lam said, adding that the company also "has been undergoing a lot of problems with listing" in the UK.

With the approval, China "removes a long-time and major political uncertainty for Shein," Han Lin, China director for consultancy firm The Asia Group, told AFP.

"Beijing is signaling selective reopening, not deregulation -- rewarding companies that strengthen China's economy while remaining aligned with national security and regulatory priorities," he added.

The online platform has been scrutinised over its environmental footprint and allegations of human rights violations for years, but its executive chairman told AFP last year that the company has "zero tolerance" on forced labour.

Shein also drew criticism last year in France over the discovery of childlike sex dolls on its platform.

In June, French authorities imposed two fines on Shein totalling more than 22 million euros (25.1 million dollars), citing problems with product traceability, environmental labelling and delivery times.

Tom Tailor improved its profitability and extended its financing in the 2025 financial year. The Hamburg-based clothing company achieved a turnover of 582 million euros in the period, just below the previous year's result, according to a statement released on Thursday. In 2024, the company generated revenue of 588 million euros.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) improved by 38 percent year-over-year to 52.2 million euros in 2025. The gross profit margin improved from 56 to 58.2 percent. These positive developments are primarily due to improved merchandise purchasing management and consistent cost management, according to the statement. Direct sales performed at the previous year's level, as they did in 2024. The company's own stores achieved like-for-like growth of 3 percent. This was mainly possible due to the strong performance in Austria and Southeast Europe.

“2025 was another challenging year for our industry. It is therefore all the more important that we have consistently focused on the areas that we can influence ourselves,” said Gernot Lenz, CEO of Tom Tailor. “The development of profitability shows that we have made further progress in the evolution of our business model.”

Financing extended until 2028

In addition, Tom Tailor announced that it was able to complete its refinancing at the end of 2025 and extend the term until the end of 2028, with renewed support from its shareholder Fosun International Ltd. Last month, the state-guaranteed Covid-19 loan of 100 million euros was also repaid as planned.

For 2026, the company continues to expect challenging market conditions. It will continue on its current course, focusing “unchanged on sustainable profitability, operational excellence and the further strengthening of the brand”.

Madrid – Looking beyond the institutional message with which a particularly presidential Marta Ortega opened Inditex's 2026 Annual General Meeting (AGM), we now delve into the significant issues raised before the Spanish group's investors. During the meeting, as was widely expected, all items on the agenda were approved in their entirety. The ordinary meeting surprisingly saw Inditex's own shop assistants from Galicia take the floor.

The ultimate goal of Inditex's 2026 AGM was to submit the nine points on its agenda to a vote and analysis by its investors. Following an eloquent welcome speech by Marta Ortega, non-executive chairwoman of the board of directors, Javier Monteoliva Díaz took the floor. In his capacity as non-director general secretary of the Inditex board, he addressed the procedural matters required by law and the company's statutes for such meetings. The event was held on Tuesday, July 7, at Inditex's headquarters in Arteixo, A Coruña. Díaz then gave the floor to Óscar García Maceiras, the group's chief executive officer since November 2021.

Maceiras thus directed his fifth Inditex AGM, the same number that Amancio Ortega's daughter has opened and supervised as chairwoman of the board. He dedicated his address to investors to highlighting Inditex's outstanding evolution over its first 25 years as a listed company, a milestone celebrated in 2026. This anniversary follows the 50th anniversary of Zara's founding, which was celebrated last year in 2025. Maceiras noted that this success is underpinned by a “management style marked by high standards and a desire for permanent improvement” that has always prevailed within the company.

He completed his presentation with a general overview of the positive results for the 2025 financial year. He emphasised the main indicators to shareholders, who were to vote on the approval of the 2025 accounts and reports during the meeting, held as scheduled on the first call. Maceiras stressed that these positive results, achieved in a complex environment, were due to the strong commercial performance of the group's brands and efficient operational management by its teams.

“Our purpose remains the same” as it was when the company went public 25 years ago: “to reach millions and millions of people around the world every day,” Maceiras told Inditex shareholders. He added that the goal is to do so “with an increasingly attractive fashion proposition and an ever-improving experience for our customers.” “This purpose has guided us in 2025 to continue on a path of positive growth, despite a complex geopolitical and macroeconomic environment.” This path has been possible thanks to “good commercial performance” and “efficient operational management.” “Why are these figures important?” the Inditex CEO asked shareholders. “Because they demonstrate the financial strength and solidity of our business model, the main guarantees that we will continue to invest whatever is necessary for the group's future sustainable growth.”

Inditex's 10 pillars for future growth

Following these words of confidence to investors, which were backed by various investment plans the company has implemented in recent years, Maceiras guaranteed a sustained commitment to investing in the company's “future.” This includes an exceptional plan to strengthen logistics capabilities with 900 million euros annually for 2024 and 2025, completed last year alongside ordinary annual investments of 1.8 billion euros. He highlighted the ordinary investments of around 2.3 billion euros committed for 2026. These funds will be used to reinforce and advance each of the 10 growth pillars on which Maceiras bases Inditex's immediate future. These pillars encompass various initiatives the company will continue to launch. They aim to advance its growth, customer experience, adoption of new technologies, product design and quality, “emotion,” innovation, efficiency, talent, its commitment to Spain, and its position as a company committed to communities worldwide.

Looking ahead to 2026 and beyond, “we maintain our purpose” of “offering attractive fashion, based on design, quality and produced responsibly,” as well as “the best possible experience for our customers,” Maceiras told Inditex shareholders. In this purpose, “we are ambitious,” and “we will continue to grow, we will continue to innovate, we will become increasingly efficient, and we will have an ever-greater positive impact.” All this will be done while the company and its various portfolio brands remain true to “a strategy of stable and accessible prices for the largest possible number of people.”

1.- Growth and expansion

Briefly elaborating on each pillar, Maceiras reiterated that in terms of growth and expansion, the group's eight chains—Zara, Zara Home, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Lefties—will continue to pursue differentiation strategies. These strategies will allow them to expand their presence in existing markets and enter new regions and countries. He highlighted developments already announced in late 2025 and the first half of 2026. These include the opening of the first Bershka stores in the US and Brazil; the planned arrival of Lefties in France, the UK, and now officially confirmed, Germany; Pull&Bear and Massimo Dutti in Denmark; and Zara Home in Norway.

With these and other strategies to be implemented, “our eight commercial formats continue to increase their differentiation, attract new customers and strengthen the bond we have with our current customers,” Maceiras said during his speech. For Zara, “the group's engine,” Inditex will “continue to increase the chain's retail space” and “will continue to improve our stores with image, technology and in new locations, executing projects in major cities around the world.” Meanwhile, “thanks to our international presence and the experience we have acquired over time, the rest of our commercial formats will continue to execute ambitious growth plans.” He concluded, “we continue to see opportunities for expansion; opportunities that we will seize by following our guiding principle of profitable and selective growth, project by project.”

2.- Customer experience

In response to the growing trend and paradigm shift towards customer experience, the company will continue to promote initiatives aimed at meeting the needs of “increasingly demanding and experience-oriented customers.” This will be achieved through “new services and new functionalities,” as well as the “execution of projects that generate community.” Examples of these initiatives include Zara's “Try-On” virtual fitting room, which Maceiras announced in March will be rolled out to the group's other chains. Other examples are the Bershka MMBRS loyalty club, which currently has over 40 million users in 18 markets, and Oysho Community, which provides access to exclusive sports events and launched a “pro” version for professionals at the end of May.

3.- Latest technologies

As the third pillar, Maceiras presented Inditex's constant commitment to the latest technologies. The Spanish company will focus on innovations that streamline the purchasing process and eliminate friction points. A recent example is a new labelling system introduced in early June. This system allows visually impaired customers to access all product information autonomously via their mobile phones. Maceiras noted that this initiative will be rolled out across all the group's brands and in all markets where they operate.

4.- Design and quality

Contrary to claims made on social media by supposed fashion and business analysts, Inditex is first and foremost a fashion company focused on selling clothes. The multinational directs all its efforts, investments, and strategies towards this purpose. This naturally includes a firm commitment to the design and quality of its product offering. The group's CEO highlighted that the company will “continue to listen to our customers.” It will place the talent of “our more than 700 designers” and the staff of “our pattern-making teams” at their service and at the service of the fashion they demand. The company is also working towards quality fashion with a lower environmental impact. These commitments are being pursued in collaboration with suppliers, research centres, and specialised laboratories “for the analysis and improvement of our products.”

5.- Emotion

The term “emotion,” the desire to “excite,” is becoming a cornerstone of the strategies of major fashion houses and groups, including Inditex. Marta Ortega used the term three times during her welcome message to shareholders. Maceiras confirmed this commitment to the “emotional” by placing it among the main pillars for building Inditex's future. The company aims to continue “exciting” and “surprising” fashion consumers, primarily through new collaboration strategies with relevant figures from the worlds of art, fashion, and culture. At the same time, the CEO of the Spanish company stressed that Inditex remains true to its unwavering principle of offering quality fashion at accessible prices.

“In order to continue exciting and surprising our customers, we will continue to develop projects in collaboration with figures from the world of art and culture.” These alliances, Maceiras noted, “are allowing us to reach an audience and acquire a relevance” as a company “that is unprecedented in the history of our group.” “So far in 2026 alone, we have collaborated with figures such as Willy Chavarria, Aaron Levine and Bad Bunny. Also in March 2026, we announced our collaboration agreement with John Galliano, the first fruit of which will be a collection that we will launch from September, with a timeless fashion proposal.” He added, “logically, all our efforts in relation to design, quality, durability” and “the future collaborations that we will continue to make available to our customers, will remain compatible with a strategy of stable and accessible prices for the largest possible number of people.”

6.- Innovation

Complementing the strategies for implementing new technologies, but as a distinct pillar, is a sustained commitment to innovation. Inditex will use this to shape its future, both physically and digitally. This area includes the adoption of new solutions driven by artificial intelligence, everything related to its online platforms, and innovations in the strategic field of logistics. The latter will be pursued mainly through robotisation and automation projects to improve productivity and competitiveness. These projects are based on the implementation of RFID technology, which is revolutionising Inditex's logistics architecture. They also rely on the adoption of the new “invisible alarm” system, already implemented in over 90 percent of its products. This system “is allowing us to provide our stores with a new technological ecosystem that is radically transforming our processes and operations,” through examples like self-checkout tills or automated processes “that connect our fitting room areas with our warehouses.”

Within Inditex, “innovation is not the result of isolated projects, but the logical consequence of a systematic and permanent process of searching for, analysing and implementing new solutions,” said Óscar García Maceiras. From this perspective, “we will continue to innovate, as we have always done at Inditex,” seeking to “take advantage of any technology at our disposal, but without losing sight of the importance of the human component, as our chairwoman pointed out in her opening speech.”

7.- Efficiency

Advancing efficiency, through better use of resources and raw materials, was also presented as one of the 10 pillars for Inditex's future. The company is shaping this future hand in hand with its suppliers. Together, they are implementing transformation plans to reduce the impact of water and energy use in their facilities. This contributes to a company based on a less polluting and more efficient model, from garment manufacturing to logistics processes, which includes incorporating renewed fleets for which “we are promoting the use of sustainable fuels.”

“We are going to be increasingly efficient,” Maceiras proclaimed to Inditex shareholders. “In a sector like ours, which uses a large number of suppliers and has processes divided across different markets, achieving the levels of efficiency we aspire to requires working in collaboration with our supply chain.” This is already being done “together with our suppliers,” with whom “we are executing a transformation plan that currently has specific action plans for almost 1,000 facilities.” These initiatives will allow Inditex to have “an ever-increasing positive impact” on the environment and on people.

8.- Talent

Continuing with the assertion of people's value as the true engine for Inditex's future growth, as championed by Marta Ortega in her speech, Maceiras also highlighted the talent of Inditex's people as a strategic pillar for its future. He called on the more than 160,000 employees from 174 countries that the company employs globally to continue contributing to this future. The Spanish group will support these professionals through training and development plans in new tools, technologies, leadership, and team management; prioritising internal promotion; and improving their working and economic conditions. In this commitment, he highlighted both the agreement for the upward renewal of salaries for its store staff in Spain and the decision taken by the company, together with its workers' representatives, to start exporting the “extraordinary incentive for commercial performance”—more popularly known as the “shop assistants' bonus”—with which it rewards its shop assistants in Spain, to the other markets in which Inditex operates.

9.- Commitment to Spain

Spain, the company's country of origin and headquarters, will continue to hold a preferential position within its structures, dynamics, and investment strategies. This “commitment” to the country, Inditex's largest market by turnover and where it employs some 50,000 workers, nearly a third of its global workforce, will materialise in new investments. These will be in stores, logistics, and corporate headquarters, including the construction of the new Inditex Campus in Barcelona for the new central offices of Massimo Dutti, Bershka, Oysho, and Lefties.

“We will continue to contribute to the economic growth of our country,” Maceiras asserted to Inditex shareholders. “We were born in Spain. Spain continues to be our number one market,” and “in Spain we will continue to invest; in our stores, in our logistics platforms, in our corporate headquarters, such as the future Inditex Campus in Sant Adrià de Besos.” He also mentioned “deploying new projects in very different areas, including technology, which will contribute to strengthening the business fabric and generating new opportunities for economic growth.”

10.- Support for the “community”

As the final point of his strategies, Maceiras highlighted the growing commitment the company will continue to make to communities in different regions of the world. These commitments have materialised in recent weeks with a donation of 3 million euros to benefit those affected by the earthquakes in Venezuela. Another commitment is the renewal of the alliance with UNHCR, under which Inditex will allocate 13 million euros between 2026 and 2028 to improve the living conditions of Rohingya refugees in Bangladesh. In addition, the company will donate another 7.5 million items of clothing and footwear over the next three years to refugees in countries such as Uganda and Chad. This donation will incur an additional logistics cost of around 2 million euros, which Inditex will cover.

Marta Ortega, a “differentiating” value for Inditex's strength

Concluding this part of his speech, Maceiras continued his address to shareholders by calling for their support for Inditex's future. This new stage will continue to be marked by its origins and fundamental objectives. He praised the positive influence and “differentiating strength” provided by both Amancio Ortega, as founder, majority shareholder, and key figure on its board of directors, and the rest of the founding family members, especially Marta Ortega, in her position as chairwoman of the board. Maceiras thus acknowledged her more than positive and active role in the group's recent results and performance.

“Maintaining our purpose of offering fashion based on design, quality, produced responsibly, and the best possible experience for our customers,” the desire to “continue to grow, continue to innovate, become increasingly efficient” and “have an ever-greater positive impact,” are “tasks that will only be possible thanks to the trust of our shareholders,” Maceiras explained to Inditex investors. “Many of you have been with us for the last 25 years, almost half of our company's life. Our company has an additional factor, a differentiating strength, which is the presence of the founding family in the shareholding and in the chairmanship of the board of directors, supporting our management and providing vision, commitment, continuity and stability every day.”

Regarding this reality and “differentiating strength,” which is personified today in the figure of Marta Ortega, he said, “I invite all of you to continue to accompany us on the road ahead. A road that will undoubtedly be full of challenges and opportunities. Challenges that we will be able to overcome, and opportunities that we will continue to seize as we have always done at Inditex, with humility, with prudence, but also with ambition.”

Inditex's shop assistants take the floor

In an equally noteworthy event, during the final part of the meeting, in the interventions section, Lucía Domínguez Rodríguez managed to take the floor. She is a delegate of the Confederación Intersindical Galega (CIG) and president of the Stradivarius works council in A Coruña. She spoke on behalf of all the store workers of the different Inditex chains in Galicia. A representation of these workers was stationed at the gates of the Inditex headquarters in Arteixo, where the meeting was being held, to protest against the state agreement for large chains promoted by the Asociación Retail Textil España. They condemn this new labour framework, which they say is specially promoted by Inditex, and which will lead to a marked impoverishment of working conditions for workers in regions such as Galicia.

After managing to “circumvent” the control measures for participation in the AGM by buying a share in Inditex, Domínguez began her speech “on behalf of the majority of the workers in Inditex's stores in Galicia.” She made her intentions clear: “to request very relevant information for our group on remuneration and working conditions.” “Today, accounts, reports and remuneration will be approved here, with figures whose magnitude is difficult for us shop assistants, who are the visible face of the company every day with effort and enthusiasm, to comprehend.” “We are the ones who sell the product” that “allows the company's profits,” and while “we are very happy and proud that once again we can talk about great results and great remuneration,” she added, “for years, we shop assistants have fought to improve working conditions.”

In that battle, “it was not until 2023 that we achieved a substantial improvement that has brought us closer to the salaries and improvements that the rest of the company's staff had had for a long time.” However, “subsequently, Inditex created an employers' association of large textile retail companies,” Arte, “with the aim of creating a state collective agreement that is about to be published.” This agreement, if not remedied, will lead to “losses” in wages and working conditions of up to “2,000 euros per year for the largest category in the sector in the province of A Coruña, which is the shop assistants.” Faced with this impoverishment, which would initially affect new workers in particular, “we have formally approached Inditex on several previous occasions, demanding a written solution that guarantees that these unjustifiable and totally unnecessary setbacks do not occur.” However, “the response has been silence, or vague promises, which do not provide any formal guarantee” against this setback.

The agreed salary improvement mentioned by Maceiras is no relief either. In the “best case scenario,” it would not be a +4 percent increase but +1.65 percent per year for provinces like A Coruña or Pontevedra; an increase that “does not correspond to the company's current performance.” In light of all this, Domínguez concluded her speech by demanding an answer from Inditex. She asked if the company would agree to offer “a legal and juridical guarantee, in writing, that these setbacks in salaries and other conditions will not occur, neither for current staff nor for those who join in the future.” She also asked them to sit down and negotiate “an improvement that would effectively make possible the announced +4 percent increase for 2026” for all its workers.

In response to her intervention and demands, García Maceiras replied, “thanking you first of all for your attendance at this Annual General Meeting, and for your contribution to the group's development.” He continued, “I would like to begin by pointing out that, as the chairwoman pointed out in her opening speech, and I also did during my speech, the success of Inditex, the success of this company, is only possible thanks to the commitment, effort and talent of the thousands of people who work with us every day, in our stores, in our logistics, in our offices” or “in our factories.” “And precisely for this reason, our priority from the outset has been to offer employment conditions that are competitive, stable and of high quality, resulting from permanent dialogue with the legal representation of our professionals.”

“In this context, we consider that the recent signing of the first state collective agreement for the large textile retail chains in Spain is very good news for the sector, because it helps to raise the level of protection and working conditions of the large distribution companies in Spain.” However, apart from “that agreement, Inditex's store staff enjoy conditions that are far superior to those of any collective agreement,” especially after having “renewed the state store agreement.” From this point on, and in a more direct response to the shop assistants' demands, he limited himself to pointing out that “our agreements remain fully in force.” He added that “we will continue to work on their evolution, through dialogue and collaboration, with the aim of continuing to recognise that commitment, that effort,” and “the talent of our professionals, which will undoubtedly continue to be an essential driver of our group's future growth.”

Fashion group Hugo Boss considers the takeover bid from major shareholder Frasers Group to be inadequate. “The offer price of 38.00 euros per share does not adequately reflect the standalone value and future value creation potential of Hugo Boss,” the company announced on Thursday. The offer has been subjected to an independent review process.

Hugo Boss's management sees significant potential, particularly through its current strategic concept. Given its strong balance sheet, the company is well-positioned “to implement its strategy independently and create sustainable, long-term value for its shareholders.” The offered 38.00 euros per share therefore represents the legally required minimum rather than an appropriate fundamental valuation of the company.

The British company has been attempting to take control of the Swabian firm since mid-June through a voluntary public offer. Frasers is a retail conglomerate backed by entrepreneur Mike Ashley. According to previous statements, the group holds a direct stake of over 26 percent in Hugo Boss.

DBGI (Digital Brands Group) is guiding for Q3 2026 revenue of 8.5 million to 11 million dollars, expecting to hit breakeven or positive net income. The announcement is a big deal for a company that lost 3.5 million dollars in Q3 2025, claiming a 500 to 650 percent YoY revenue jump.

The Texas-based company, which operates eCommerce apparel brands such as Bailey 44, Stateside, and AVO, among others, credits its growth to collegiate expansion and a landmark government contract for the first scale deployment program across three cities.

"Our shift toward collegiate licensing and government contracts is scaling rapidly and profitably. This transition proves our new high-margin model is the right strategy to drive sustainable growth and creating both short and long-term shareholder value," said Hil Davis, CEO of Digital Brands Group, in a statement.

DBGI first announced a manufacturing agreement with Yea Alabama, the NIL programme of the University of Alabama, in December 2025, acquiring the rights to exclusively design, manufacture, and distribute collegiate apparel under private label for the university’s bookstores and online storefront. The company later expanded its range in the college apparel sector, jumping from 1 to 18 university deals, including agreements with the University of Colorado, Vanderbilt University and University of Mississippi.

In April, DBGI also announced an apparel licensing deal through Global Combat Collective (GCC), a premier boxing organization, supporting existing U.S. program deliveries up to 125 million dollars in potential aggregate contract value, subject to delivery orders, program requirements and customary conditions.

The latest Q3 forecast does not include 8 million to 9 million dollars in revenue and 3 million dollars net income contributions from the seven additional cities designated for the initial scale deployment program, which were affected by the government shutdown earlier this year.

Fast Retailing, the owner of Uniqlo, has increased its full-year profit outlook for FY26 following a boost in performance during the third quarter.

For the three months to May 31, the Japanese retail giant saw its operating profit increase 45.7 percent to 213.79 billion yen (1.3 billion pounds), up from 146.74 billion yen in the year prior.

As a result of the higher-than-anticipated results, the group raised its forecasted operating profit from 700 billion yen to 730 billion yen, keeping it on track for its fifth consecutive year of record earnings.

The Uniqlo brand welcomed an increase in revenue and profit across all regions, with the international business performing particularly well, as revenues rose 33.8 percent year-on-year, excluding forex impact.

Performance was boosted by the swift opening of Uniqlo stores across Europe and the US, which Fast Retailing said had “further enhanced global brand power and generated strong performances”.

For FY26, the group predicts gains to continue into the second half of the year across all international regions.

Gu’s revenues also increased by 7.5 percent, while its operating profit was up 34.8 percent. A reduction in sales costs and product numbers were cited as the primary drivers.

In contrast, the group’s global brands category, which includes the Theory, PLST, Comptoir des Cotonniers and Princesse tam.tam, saw sales decline 4 percent in local currency terms.

The Theory brand in particular experiencing a decline in performance. Fast Retailing pointed to the dampening of summer sales due to cool weather. This was offset by an increase in profit, driven by lower discounting rates within the US business.

The board of directors at Destination XL Group Inc., (DXL), a publicly traded retailer specializing in Big + Tall men’s apparel, has advised that stockholders reject the revised offer made by Zodiac Partners II, LLC (“Zodiac”) on June 23 to acquire all outstanding shares of DXL for 0.84 dollars per share in cash, and not tender their shares. According to a statement from the DXL board, stockholders who have already tendered their shares may withdraw them at any point prior to the expiration of the offer at 5pm ET on July 24.

“The DXL Board of Directors remains committed to maximizing stockholder value and acting in the best interests of all DXL stakeholders,” said Lionel Conacher, chairman of the board of DXL, in a statement. “After careful review of Zodiac’s revised proposal, the Board unanimously concluded that the modest increase in consideration still undervalues DXL and is not in the best interests of our stockholders. The Board reiterated its belief that Zodiac’s repeated offers are highly conditional, opportunistic and seemingly timed to deliberately exploit a period of market dislocation. We therefore recommend that stockholders reject the Revised Offer and do not tender their shares.”

The DXL Board issued its formal recommendation in a Solicitation/Recommendation Statement on Schedule 14D-9 filed on Wednesday with the U.S. Securities and Exchange Commission (“SEC”). According to the statement, the company is committed to maximize shareholder value and act in the best interest of the Company and its shareholders, based on "current expectations, estimates and beliefs of DXL management."

Zodiac Partners II, LLC, an acquisition entity of Camac Fund, first announced on May 12 an offer to acquire all outstanding shares of Destination XL Group, Inc. for 0.82 dollars per share. On June 3, DXL announced it was not longer continuing with its planned merger with FullBeauty Brands, previously announced in December 2025. On June 23, Zodiac made its second offer, raising it to 0.84 dollars per share, with the total transaction valued approximately 46 million dollars.

Ziggy Gokea, managing member of Zodiac Partners II, LLC, said the second offer "was designed to show the Board the flawed nature of the Full Beauty Brands (“FBB”) merger and to give stockholders a better path forward. The strength of the support we have received to date is a clear signal that stockholders want a choice.”

Authentic Brands Group is accelerating its European expansion of Lee through a new long-term partnership with Experience Group. The deal intends to strengthen Lee’s presence across wholesale, retail and e-commerce, while further extending the brand’s international reach.

Through the agreement, which will come into effect after Authentic finalises its acquisition of Lee, Experience Group will serve as the denim specialist’s operating partner, overseeing men’s and women’s sportswear, activewear and workwear. The company will utilise its regional expertise, operating infrastructure, and product capabilities to back Lee’s next phase of growth.

Authentic’s president of EMEAI, Henry Stupp, said the partnership marked an “important step in Lee’s international expansion strategy”, adding that Experience Group offered “proven operating capabilities and a clear understanding of how to build brands across channels”. “Together, we see a significant opportunity to grow Lee’s presence across Europe while continuing to deliver the products and experiences consumers know and love,” Stupp added.

Authentic announced plans to acquire Lee from Kontoor Brands earlier this year, revealing a deal valued at up to one billion dollars. The acquisition, set to close in the second half of 2026, extended Authentic’s long-term streak of snapping up notable labels, placing Lee alongside the likes of Guess, Dockers and Boardriders.

The group quickly sought to impose its signature third-party licensing and distribution model onto Lee, securing a partnership with One Jeanswear Group for the brand’s operations in the US and Canada.

Luxury brand Marine Serre was placed into receivership on July 7. The brand is now seeking an investor to continue its operations, according to reports from WWD.

Famous for its crescent moon logo, Marine Serre has successfully attracted a large customer base by championing sustainable fashion through a circular approach that underpins its aesthetic. Like other luxury brands such as Coperni, which entered receivership last June, Marine Serre has not been immune to sluggish consumption. This has affected part of its wholesale network, alongside rising costs.

Pressure on cash flow

“During the 2025 financial year, amid a deteriorating global geopolitical and economic climate, the company was affected by payment defaults from several clients. This put pressure on its cash flow,” stated the press release quoted by WWD.

The brand clarified, however, that the house's “creative identity” and its “attractiveness on the international market” remain strong. To continue operating and growing, Marine Serre is now looking for a financial partner.

Most recently, the company launched a collection in collaboration with the Louvre museum, as well as another with sportswear brand Under Armour.

The European textile recycling alliance, ReHubs, has appointed a new board to drive the further development of textile-to-textile recycling in Europe.

New board members are Luca Campadello of Italy's Erion; Kasper Damsø of Denmark's NewRetex; Gianluca Pandolfo of France's Reju; and Paolo Sandri of Thai chemical group Indorama Ventures. Re-elected board members include Dirk Vantyghem of industry organisation Euratex, Felix Poza of Inditex and Véronique Allaire Spitzer of Refashion.

The new chairman of the board is Robert van de Kerkhof (Pepper-i2), while Kasper Damsø and Véronique Allaire Spitzer have been appointed co-chairs.

The new board is tasked with the further implementation of the ReHubs strategy. The alliance aims to recycle 2.7 million tonnes of textile waste annually from 2035, contributing to the transition to a circular textile industry.

The 'Breaking the Supply-Demand Deadlock' strategy, published in September 2025, outlines how ReHubs plans to address the current bottlenecks between the available supply of recycled fibres and market demand. According to the organisation, closer collaboration between collectors, sorters, recyclers, fibre producers, manufacturers and brands is necessary to enable textile-to-textile recycling on an industrial scale.

“The transition to a circular textile industry is urgently needed, but it cannot be achieved by one organisation alone,” said Van de Kerkhof. “With this new board, we have the expertise and shared ambition to further expand collaboration throughout the supply chain.”

ReHubs expects the new board to focus on stimulating investment, strengthening collaborations and creating better conditions for the further growth of circular textile solutions in Europe.

The new board was elected during the annual ReHubs event in Brussels on June 23, which took place concurrently with the Textile Recycling Expo and Future Fabrics Expo.

This news report was written with the help of AI.

US apparel company Levi Strauss & Co. (LS&Co.) has once again exceeded market expectations in the second quarter of its 2025/26 financial year. Following the unexpectedly strong results, the denim specialist raised its annual forecast again on Wednesday evening.

In the three months to May 31, revenue amounted to 1.56 billion dollars. This represented an eight percent increase compared to the same quarter last year. On an organic basis, which adjusts for currency effects and changes in the group's portfolio, revenue grew by six percent.

Above-average growth in retail revenue

The growth driver was its own retail business, the strengthening of which is one of management's strategic priorities. Its revenue increased by 11 percent (organically +8 percent). In the wholesale business, the company achieved an increase of five percent (organically +3 percent).

Revenue for the core Levi's brand developed particularly dynamically in Asia, growing by ten percent (organically +12 percent) to 284 million dollars. In the Americas, sales increased by nine percent (organically +7 percent) to 815 million dollars. In Europe, it rose by four percent to 420 million euros; however, on an organic basis, it declined by one percent. Revenue from the sportswear brand Beyond Yoga amounted to 43 million dollars, exceeding the previous year's quarter by 16 percent.

Despite higher tariffs and negative currency effects, the company was able to increase its gross margin by ten basis points to 62.7 percent. According to a statement, this was primarily due to lower product costs and an adjustment in pricing policy. As a result, earnings before interest and taxes (EBIT), adjusted for special items, grew by 18 percent to 141 million dollars. Reported net profit rose by 30 percent to 87.3 million dollars. The quarterly surplus from continuing operations, which excludes the earnings contributions from the Dockers brand sold last year, increased by 19 percent to 94.8 million dollars.

CEO Michelle Gass anticipates further growth

In light of the surprisingly strong figures, the company raised its annual forecast again. Revenue from continuing operations is now expected to grow by 7.0 to 7.5 percent, up from the previously forecast increase of 5.5 to 6.5 percent. The target for adjusted earnings per share, previously set at 1.42 to 1.48 dollars, has been raised to 1.46 to 1.52 dollars.

CEO Michelle Gass expressed her satisfaction with the recent performance. "The Levi's brand is connecting with consumers around the world in a deeper way than ever before, and our second-quarter results are further proof that our strategies are working and our team is executing them successfully," she explained in a statement. The focused development towards a D2C-led denim lifestyle company is leading to faster growth and greater profitability.

Gass also anticipated further improvements. "While we are pleased with the progress, we are still in the early stages of our long-term growth trajectory, with more opportunities for success ahead of us than ever before," she emphasised.

Golf footwear brand Alma Mater has announced a new group of athlete investors as it prepares to open its next fundraising round, bringing together professional golfers and stars from the NFL, NHL, MLB and NBA.

The investor line-up includes golfers Taylor Montgomery and Natasha Oon, NFL players Jordan Poyer and Levi Wallace, NHL veterans Joe Pavelski and Tyler Seguin, alongside former MLB players Kevin Millar, Jackie Bradley Jr., Jed Lowrie and Chris Young.

The announcement comes as the company looks to accelerate growth following the launch of its Beta golf shoe, which debuted in 2025. Built around Alma Mater's proprietary 3PE Technology, the shoe was designed to combine performance, comfort and style without the trade-offs traditionally associated with golf footwear.

In a statement, chief executive officer, Nathan Brown, said the athletes invested because they believed in the product rather than as part of a sponsorship agreement. "This group didn't sign on for a check. They invested because they've worn the shoe, they know what we're doing differently, and they want to be part of building something that gives golf what it deserves."

The National Council of Textile Organizations (NCTO), a Washington, DC-based trade association that represents the full breadth of the US textile industry, has offered recommendations in the US Trade Representative’s (USTR) ongoing Section 301 investigations, calling for new tariffs on apparel imports from countries at risk of forced labour in their supply chains, while proposing three reforms to encourage the growth of the domestic industry.

NCTO advocates for domestic textile industry protection in USTR Section 301 Investigations

According to the NCTO, forced labor remains prevalent across international textile and apparel supply chains, putting US manufacturers at a "disadvantage." The organization argues that the administration now has the opportunity to "take meaningful actions in the investigations to revitalize the domestic textile industry" while protecting it from "predatory trade practices like forced labor."

At the same time, the NCTO warns that while the right approach "could potentially double industry capacity," the wrong one could "cost US jobs" and cause "irreparable harm." The tariff recommendations come ahead of NCTO president and CEO Kim Glas testifying at the USTR hearings on Section 301 forced labor investigations on July 9.

NCTO's recommendations come after USTR initiated 60 investigations into economies alleged to have failed to impose and effectively enforce a prohibition on the importation of goods produced with forced labor in March. After reviewing more than 450 written comments and hearing from nearly 60 witnesses, USTR found all 60 economies actionable and proposed tiered additional duties on June 2, including 10 percent for jurisdictions with forced-labor import prohibitions or commitments, and 12.5 percent for those without.

The USTR investigation is widely seen as the next step in replacing the administration's IEEPA tariffs. With a temporary 10 percent Section 122 surcharge set to expire on July 24, 2026, unless Congress extends it, USTR has an incentive to finalize the Section 301 duties before then. For countries that rely on garment production and export, including Bangladesh, Vietnam and India, the proposed duties would land hard on top of what has been a turbulent year to date, as the current tariff regime has already driven sharp export declines and led to tens of thousands of job losses across Bangladesh and India.

In addition to urging the USTR to impose Section 301 duties on apparel and finished textile products from China, the Global South, and Southeast Asian countries at risk of using forced labor in manufacturing, and to strengthen customs enforcement, NCTO is also calling on USTR to preserve duty-free treatment for textiles and apparel that meet the United States-Mexico-Canada Agreement (USMCA) and Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) requirements.

The organization is also urging necessary reforms within the USTR's proposed textile mechanism to support domestic growth. NCTO calls for three reforms within the textile mechanism proposed by USTR as part of its forced labor investigation. These include the exclusion of raw cotton from the mechanism, arguing that the cotton track rewards the offshoring of US yarn, fabric, and apparel production and ultimately benefits Asia. NCTO is also seeking an exemption from additional Section 301 tariffs for textile manufacturing inputs and machinery not available domestically, to protect US competitiveness. Lastly, the organization calls for the mechanism to be restructured to incentivize more Western Hemisphere sourcing, rewarding supply chains free of forced labor.

To aid these reforms, NCTO has partnered with the American Apparel & Footwear Association (AAFA), the United States Fashion Industry Association (USFIA), and the US Industrial and Narrow Fabrics Institute (USINFI) to develop an alternative textile and apparel incentive program, the first time these organizations have jointly advocated for a trade policy initiative. The program is designed to "reshore domestic manufacturing, stabilize and grow Western Hemisphere textile and apparel supply chains, and help brands and retailers to diversify sourcing at a critical time.

"USTR should include an innovative textile proposal that would reward the whole textile and apparel supply chain, including US cotton, through a novel program developed by NCTO and brands and retailers to create over 56,000 jobs in the United States," the submission stated.

Final decision-making by the USTR is expected to occur before July 24.

MVC Group, a company specialising in technical apparel for cycling and outdoor sports, has established MVC UK Group Ltd. This marks the group's tenth international subsidiary.

The new entity will manage the direct distribution of the Castelli and Sportful brands in the UK and Ireland. Management explained this will "generate synergies and operational efficiencies that will allow the group to significantly strengthen the presence of the two cycling brands in the area".

"With this new operation, the third completed in less than a year, we are achieving an important objective: direct control of distribution in specific strategic markets where, from today, we aim to grow even faster. We will work in the area ensuring operational continuity for our customers, while at the same time investing to support new commercial initiatives,” emphasised Emilio Foà, chief executive officer of MVC Group, in a statement.

MVC Uk has taken over operations from Saddleback, the long-standing distributor and partner. Saddleback has ceased its activities after contributing significantly to the success of the Castelli and Sportful brands in the UK for many years.

The establishment of the tenth subsidiary falls in line with the group's multichannel development strategy. This strategy aims to more efficiently oversee selected markets where it intends to support commercial expansion, including through dedicated investments. The move follows the acquisition of Wolvenberg, announced last February, which led to the creation of Mvc Benelux.

The objectives set for the UK markets will further strengthen those already outlined in the group's three-year plan. The plan estimates a significant increase in turnover to approximately 150 million euros in 2028.

French running equipment specialist i-Run has acquired its Belgian counterpart Trakks. This strategic move, announced by Trakks in a LinkedIn post, allows i-Run to open its first physical stores outside of France. The company already has a strong online presence across Europe.

The French running specialist has bought the six physical shops and the e-commerce site of the Belgian brand Trakks, according to reports from the business daily L'Echo. The financial details of the transaction have not been disclosed. Trakks' physical network includes six points-of-sale located in the following municipalities: Etterbeek; Uccle; Charleroi; Rocourt; Jambes; and Waterloo.

In a LinkedIn post, Christophe Thomas, founder of Trakks, wrote: “This may seem like a “simple” deal, but it is much more than just a deal (...) Over months of discussions with the i-Run management, we discovered that we share genuine and sincere common ground. This has only strengthened our desire to work together.”

The i-Run company, founded in France in 2007, currently operates 24 stores in its domestic market. At the same time, the distributor has developed a strong digital presence with e-commerce platforms active in several European countries: France; Belgium; Spain; Germany; the Netherlands; Portugal; Austria; and Italy. This acquisition agreement significantly strengthens i-Run's position in the Benelux sportswear market.

Workers at Net-a-Porter’s Charlton warehouse have resumed their strike after rejecting the luxury e-tailer’s latest pay offer. After a period of postponement, action by members of trade union GMB walked out again on July 7 and continued into July 8.

GMB said the majority of workers have rejected the company’s pay offer, with fresh redundancies also said to be adding towards growing anger across the workforce. The organisation had postponed industrial action earlier this year to allow for negotiations, with the goal of reaching a revised agreement on an improved offer.

In a statement, Craig Prickett, GMB regional organiser, said: “Members are raising serious concerns that a significant part of the proposed pay package relies on performance targets they believe are unrealistic, unachievable and, in many cases, outside of employees’ control. The dispute has further intensified following the announcement of a further round of redundancies, leaving many employees facing uncertainty over their jobs.”

Strike action at the Charlton warehouse was first initiated in May, at which time deliveries were expected to be “savaged” despite the warehouse remaining operational. Workers raised concerns over Net-a-Porter’s alleged failure to pay the London Living Wage to its lowest-paid staff.

At the time, LuxExperience, Net-a-Porter’s parent company, said it was “open to engaging in constructive dialogue with union representatives as we navigate the next steps in this process”.

The strike comes as Net-a-Porter’s financial positioning continues to improve under the turnaround strategy of LuxExperience. The German multibrand group reported the stabilisation of revenues during the Q3 of 2026, with the luxury segment, including Net-a-Porter, anticipated to show further improvements. FashionUnited has contacted LuxExperience with a request to comment on the latest strike action.

Ankara - US president Trump wants to end all trade with Spain. At a press conference during the NATO summit in Ankara, Trump said: “I don’t want to continue trading with them”. Similar to last year's NATO summit, Trump was deeply annoyed with the position of NATO partner Spain.

“Spain is a terrible partner in NATO. They don’t participate, they don’t pay,” said Trump. “End all trade with them.” US treasury secretary Scott Bessent was also present at the press conference. He made no concrete announcements on how such a measure would be implemented.

Trump's plan would not be easy to implement, as Spain is a member of the European Union and the European single market. In trade matters, member countries have largely transferred their powers to the European Commission in Brussels, which speaks and negotiates on behalf of the member states.

London-based start-up Fleek, which is building the AI infrastructure to digitise second-hand fashion supply chains powering Vinted, Depop and Whatnot, has secured 25 million US dollars in Series B funding.

The investment was led by Burda Principal Investments, an early Vinted backer and lead investor in its Series C round, with participation from Ebay, FJ Labs, and H14, alongside existing backers, including Andreessen Horowitz, HV Capital, and Y Combinator.

In a statement, Fleek said the funding would be used to accelerate the development of its AI-native marketplace, expand its engineering teams, scale its technology platform and grow its global buyer and supplier network.

Founded in 2021 by Abhi Arora and Sanket Agarwal, Fleek is taking on the manual, fragmented and offline infrastructure powering the 200 billion US dollar second-hand industry with its proprietary AI-powered business-to-business marketplace and systems designed to digitise the second-hand supply chain.

Abhi Arora, co-founder and chief executive of Fleek, said: "Most people have no idea what happens to a piece of clothing after they part with it. It travels thousands of miles, gets sorted by hand in a warehouse in Karachi, and finds its way back to a vintage shop in London or New York, if it's lucky.

“We started Fleek because that system is broken, the market it serves is exploding, and nobody is building the technology and infrastructure to fix it."

Fleek: connecting the global second-hand fashion economy with AI-powered technology

At the centre of the platform is Fleek Sort, a custom vision language model trained on millions of second-hand marketplace transactions from Fleek’s global network over the past four years. The AI model, which is already used by graders in sorting hubs in Pakistan, India and Dubai, and in pilots launching in the UK, Europe and the US, identifies, categorises, grades and merchandises second-hand garments using photographs or videos from smartphones, and then turns a historically manual process into a digital workflow. As more inventory is graded, listed and sold through the platform, Fleek Sort continuously learns from real-world outcomes.

Once processed, inventory is automatically listed on Fleek's marketplace, where AI-powered pricing, search, recommendation and matching systems connect stock with relevant buyers around the world. Every transaction also generates additional data that improves the platform's understanding of second-hand inventory, creating a proprietary intelligence layer for the industry.

Julian von Eckartsberg, managing director of Europe at Burda Principal Investments, said: "We backed Vinted when second-hand fashion was still considered niche. We know what it takes to build a platform that scales in this market. From its growing supplier network to the technology behind it, Fleek is building the infrastructure the next generation of fashion will rely on."

Fleek connects vintage clothing wholesalers and retailers

With up to 24 billion second-hand clothing items moving annually through the global supply chain, Fleek states its AI-powered approach will help suppliers increase recovery rates, enable buyers to source inventory more efficiently and reduce the volume of wasted clothing.

To date, the company said it has kept more than 12 million items in circulation and has connected more than 2,000 verified wholesale suppliers and graders with over 50,000 retailers, resellers and boutiques across more than 100 countries.

Sanket Agarwal, co-founder and chief technology officer of Fleek, added: "There's more data locked inside the global second-hand supply chain than almost any other market, yet historically very little of it has been captured.

“We've built the world's first AI trained specifically to understand second-hand inventory, what it is, what it's worth, who wants it and where demand exists. Every transaction improves that understanding, creating an intelligence layer we believe will become critical infrastructure for the future of the industry."

US workwear brand Dickies has named Just Now Distribution, in partnership with Luke Distribution, as its new commercial partner amid plans to accelerate growth in the UK and Ireland.

The strategy, which also includes a regional wholesale footprint expansion, is being overseen by SportLux, the owner and operator of the Dickies label across Europe.

Just Now Distribution will take on sales, wholesale development and market expansion activity, with operational and financial infrastructure support to be provided by Luke Distribution to ensure immediate delivery requirements and long-term growth.

In a statement, Juls Dawson, founder and managing director of Just Now Distribution, said the firm was excited to partner with Dickies at “an important stage of the brand’s development”.

For Dawson, the connection to Dickies is also personal, with his grandfather having previously stocked the brand in his retail chain stores, making this partnership a “genuine full-circle moment”.

“Dickies has incredible heritage, enormous cultural relevance and huge untapped potential within our market,” Dawson added. “Working alongside SImon [MD of Luke Distribution] and the Luke team gives us the operational scale required to execute from day one, and we genuinely could not be more excited about the opportunity ahead.”

Dickies was acquired by Bluestar Alliance for 600 million dollars in late 2025, and has tasked SportLux as part of a master-licensing alliance to shift the brand’s positioning and scale up its wholesale presence across Europe.

German and Danish shipping giants Hapag Lloyd and Maersk announced in a routing update yesterday that they would resume services through the Red Sea route, effective immediately. This affects specifically their SE3 service, which is the gateway to Europe from China via the Middle East.

SE3 starts from Qingdao in China or Kwangyang in South Korea before continuing to Ningbo in China, just about 400 nautical miles away. The journey then continues to Tanjung Pelepas in Malaysia for Southeast Asian markets and Port Said and Damietta Port in Egypt near the Suez Canal for fast and efficient connections to Italy, Greece, the Black and Red Sea. On the return route, the ships will stop at the important ports of Colombo in Sri Lanka and Singapore.

Mid East gateway to Europe from Asia is open again

“Following a careful assessment of the current security situation in the Red Sea area, Hapag-Lloyd and Maersk have decided to implement a structural change to one of the Gemini services: effective immediately, the SE3 service will now sail via the Red Sea route instead of transiting via the Cape of Good Hope. The first sailing will be the Majestic Maersk,” stated the update.

“The Red Sea route is the most efficient connection for these voyages and helps us provide a more direct and faster transport option for our customers with transport between Asia and Europe. The safety of our crews, vessels and customers’ cargo remains our highest priority. We will continue to closely monitor the situation and inform affected customers in case of further relevant changes,” the shipping giants added.

Cautious return to the Red Sea

While this is a positive operational update, the garment industry remains cautious because the return to the Red Sea remains highly dependent on regional stability. On Sunday itself, a bulk cargo vessel came under attack in the southern Red Sea approximately 30 nautical miles (55 kilometres) southwest of Al Hudaydah (Hodeidah), a strategic Yemeni port city currently controlled by Houthi rebels.

According to maritime agencies including the United Kingdom Maritime Trade Operations (UKMTO), a small skiff carrying armed assailants approached the bulk carrier and opened fire. Onboard private security guards engaged in a brief firefight with the attackers and successfully returned fire, after which the skiff retreated. Both the vessel and its crew are safe. No group has officially claimed responsibility for the attack yet.

Thus, western brands are maintaining diversified logistics strategies, such as keeping rail and air freight options on standby just in case geopolitical volatility forces another sudden rerouting. In addition, competition for container space is fierce and prices are still inflated.

L'Oréal and Gucci said they have reached a licensing agreement lasting 50 years for the French company to make perfumes and cosmetics under the name of the Italian fashion house, Gucci's parent company Kering said Tuesday.

The agreement follows a decision to terminate a licence agreement between Gucci and US-based Coty a year before it was due to expire, Kering said in a statement.

The licence agreement between Gucci and Coty - which will receive approximately 400 million dollars in compensation - was due to expire in June 2028. The new licence agreement with L'Oréal is expected to come into force in mid-2027.

"By combining Gucci's global desirability and distinctive creative vision with L'Oréal's unparalleled expertise in beauty, innovation capabilities and worldwide distribution network, the partnership aims to unlock significant long-term growth opportunities across fragrance and beauty," Kering said.

Madrid – This Tuesday, July 7, the Inditex group's headquarters in Arteixo, A Coruña, once again hosted the company's 2026 Annual General Meeting. The event was opened by Marta Ortega Pérez in what was her fifth address to the shareholders of the Spanish fashion multinational, owner of Zara, since she officially became non-executive chair of its Board of Directors on April 1, 2022.

A summary video showcased the main initiatives from 2025 and early 2026. Afterwards, Ortega delivered her traditional annual review speech, welcoming Inditex shareholders to her fifth Annual General Meeting as head of the Board of Directors. Before handing over to Inditex's chief executive officer, Óscar García Maceiras, and the general secretary of the Board of Directors, Javier Monteoliva Díaz, who managed the meeting's proceedings under her supervision, Ortega looked beyond the figures. As is now customary under her leadership, Amancio Ortega's daughter focused on more than the magnificent results posted by the Spanish fashion multinational at the close of its last fiscal year in 2025. She instead highlighted the values, working dynamics, commitments, and strategies that underpin Inditex's operations, enabling the company to sustain its outstanding performance and achieve new record highs year after year.

The current climate is defined by two key factors. First, there are growing political and macroeconomic tensions across the globe, causing the fashion industry to look on with concern at events from America to Asia, via Europe and the Middle East. Second is the emergence of artificial intelligence (AI), which promises to completely revolutionise our lives and business dynamics. In her welcome message to shareholders, the Inditex chair addressed both these issues. She downplayed the potential impacts of global tensions and the capabilities of AI, subordinating them to what she considers Inditex's true strength and key differentiator: human value. This factor, she argued, allows Inditex to continue growing, generating value, and taking on an increasingly important role, not only within the fashion industry but also in today's challenging and disruptive world. Marta Ortega asserted that this human element has been and will remain the guiding principle for the Spanish fashion multinational and all eight of the commercial chains and brands in its portfolio.

Full speech by Marta Ortega Pérez during the 2026 Inditex Annual General Meeting

“Ladies and gentlemen, shareholders, members of the Board, good morning, and welcome to this Inditex Annual General Meeting, which I am greatly honoured to chair once again. To change is not to cease to be. Sometimes, changing is the clearest way to recognise oneself. Inditex has changed many times throughout its history. It has grown, learned, and incorporated new tools, capabilities, and ways of connecting with people. One thing has not changed: our way of understanding things. I believe that is one of the great responsibilities for those of us who are part of this company. We must advance without losing our core focus; look forward without forgetting our origins; and reach further while remaining close. The environment changes, sometimes very quickly. Technologies, habits, markets, and expectations all shift. Even amid this constant movement, something remains: people, their emotions, their sensitivity, and what they expect from us. For this reason, beyond a year's results, which are of course important, a deeper purpose must guide us. We must continue to generate a positive impact wherever we are: here in Galicia, in Spain, and in all the places we operate. This requires something simple to say but not always easy to uphold: staying true to our path.

Thank you to each of the more than 160,000 people who make up Inditex, and to those who work with us, from our partners to our suppliers. Thank you also, of course, to our customers for their time, trust, and for allowing us to be part of their daily lives. Before I conclude, I want to take this opportunity to express a very special thanks to our director, Rodrigo Echenique, for his twelve years of rigour, dedication, and commitment. Rodrigo, it has been an honour to share this journey with you. Thank you so much for all these years. You know you will always be a part of our shared history. To all of you, thank you very much for joining us today and especially for your constant trust. Our chief executive officer and general secretary will now manage the proceedings of this meeting under my supervision. I now give the floor to our chief executive officer, Mr Oscar García Maceiras. Thank you very much.

On the 25,000 square metre site of Milieuwerk, near Sloterdijk, Amsterdam, a group of brand owners, textile processors and investors have gathered for the launch of Vnyx. This robot is set to transform resale into an attractive market.

Iced coffee and homemade pastries are ready for the attendees. From a two-metre-high mountain of clothes – discarded items from the metropolis – founders Vincent van der Holst and Romy Goedhart, the faces behind Vnyx, share their story. "Every three seconds, a truckload of textiles is dumped or incinerated worldwide. We have found a solution for that."

Vnyx is the name behind a series of innovative robots designed to help the resale market gain momentum in the coming years. Currently, it costs around 11 euros per garment to remove collected clothing from bales; sort it; clean it; photograph it; price it; relabel it and list it on a webshop, Goedhart later tells FashionUnited. The first bot, which the six-person start-up team worked on for two years, can do it faster and for a fraction of the cost.

"Robotics has always focused on making new, mass-produced fashion faster and cheaper," states Van der Holst. "Vnyx applies the technology on a large scale to second-hand items, overstock and returns." Additionally, AI can handle product photography and pricing, which are normally time-consuming, precise tasks.

Fleece for sale in two minutes

Not too much can be revealed about the Vnyx machine, says Van der Holst, as he demonstrates the latest version. Two patents were recently filed: one for the hanging system and another for the entire assembly line where the second-hand items are processed with the help of robots and AI.

Imagine a high monorail with stations. In one second, Van der Holst clicks a lava-print fleece jumper onto a 'smart' hanger, which opens automatically. The item passes through a photo studio, after which the computer can begin to determine its value. Shortly after, the webshop of Boas, the second-hand brand where it all began, appears on a large screen. The fleece costs 25.99 euros. It is already for sale.

Vnyx is not a sorting company. There are other established names for that, such as the nearby textile factory of Brightfiber Textiles, where all textiles from the city can be separated. Pre-sorted garments enter the front of the Vnyx system: items with a high probability of resale. In the future, this could be at a Zeeman or Vestiaire, with the machine located in their distribution centres.

AI

When scanning the clothing, AI reads a lot of data, including a reasonable selling price, the brand and the composition. This data is immediately integrated into the brand's system. Van der Holst: "Previously, resale was unprofitable because you had to figure out all those steps yourself, and it was cheaper to simply burn the items. We have managed to reduce the cost to a point where resale is profitable."

Each product also comes with five AI-generated photos in the system, presented on an attractive AI model. In addition, two real photos of the product itself are provided. "In times of fake news and AI, the customer also wants to see something tangible," says Van der Holst.

We R

At Milieuwerk, the Vnyx100 is on display. The first commercial version can upload up to a quarter of a million items per year to the websites of client brands. Vnyx retains ownership of the hardware and then charges per processed product. This way, the machine pays for itself quickly, and the brands do not have to come up with millions themselves, explains Van der Holst. "We are already running this system for Boas, Decathlon and Bever. With the largest system, we are targeting international fulfilment centres, major fashion brands and resale platforms, as well as sorting centres like the one here in Amsterdam." A pilot is also underway at one of the largest distribution centres in Europe, with 400 fashion brands as clients. He cannot disclose the name for now.

Behind the scenes, the next version, the Vnyx3000, is almost complete; it will be delivered in 2027. Milieuwerk has signed on for it: next year, three million garments will be processed at this location. A name has already been chosen for the collaboration: 'We R'. Van der Holst: "The robot takes away the tedious work and finally makes resale profitable, leaving more valuable work for the people at Milieuwerk." He is referring to tasks such as straightening the fabric or smoothing out a crease. That will soon be done in less than a minute, the founder promises. "We started with twenty minutes for the entire process, now it's down to two."

'Without automation, we will never make it'

One million euros have been invested in the research and development for the Vnyx100. The growth capital comes from a mix of angel investors, including Baltic Business Angels; impact partners such as Stichting DOEN and Earthstar; Squads; and Spark Design as an engineering investor, plus subsidies from the Dutch government (RVO).

For the next round, around 3 million euros in VC growth capital and another 2 million in European subsidies are planned to set up three large systems, the first of which has already been allocated.

Van der Holst is convinced that the machine can contribute to the European transition. "Without automation, we will never meet the European mandate to sell and recycle 55 percent of textiles. The strength of China – offshoring to a gigafactory – does not work here: second-hand is local, you do not transport a unique jacket halfway across the world."

XY Retail, the retail operating system for the Armani Group and other global luxury brands, has announced Vivek Veeramani as its new vice president, ecosystem and delivery. According to the company, Veeramani will strengthen strategic partnerships, supporting its next phase of growth.

"Our success depends not only on the strength of our platform but on the strength of the ecosystem around it. Vivek brings the operational discipline and partnership mindset to scale that ecosystem, ensuring our partners become an extension of how we deliver value to customers around the world," Susan Jeffers, CEO of XY Retail, said in a statement.

Before joining XY Retail, Veeramani held senior roles at ThoughtWorks, GoTo Group, Quess Corp, Nivoda and Technogise. He has over 25 years of leadership in enterprise technology, product strategy and business transformation across retail, banking, manufacturing and digital businesses in India, Southeast Asia and Africa.

"What attracted me to XY Retail is the combination of an ambitious product vision and a company already delivering for some of the world's leading luxury retailers. The opportunity now is to strengthen the partner ecosystem so customers can move faster, scale confidently and realize greater value from the platform. I'm excited to be part of that journey," Veeramani said.

XY Retail is a retail operating system that powers more than 1,500 stores globally for brands including brands including Giorgio Armani Group, LuisaViaRoma, Golden Goose, Boggi Milano and others.

Wardrobe styling app Whering has raised 7 million US dollars in funding led by Ebay Ventures and Google AI Futures Fund, as it surpasses 10 million users globally.

The London-based start-up, which launched in 2021 and was inspired by the iconic virtual wardrobe in the movie ‘Clueless,’ helps people create outfits from clothing and accessories they already own, tapping into a sustainable shift away from passive overconsumption towards more intentional wardrobe use.

In a statement, Whering said that the latest round of funding would support “the next phase of growth,” as it scales its AI-powered wardrobe technology to help users better understand what they own, wear more of it, and buy with intent, as well as drive towards its goal of building “a definitive data source” for the future of circular and personalised retail.

Bianca Rangecroft, founder and chief executive at Whering, said: “I launched Whering to help answer the question billions of people ask themselves daily: What should I wear today? Five years and 10 million users later, we’re thinking about what’s next.

“We have access to such a vast amount of data that hasn’t existed before, not just what people buy, but what people actually wear, what they wear it with and how it makes them feel. For us, what’s next is helping people not just when they get dressed in the morning, but every time they interact with clothes, whether that’s buying, selling or styling, and we have the data to do that in an incredibly personalised way.”

Wardrobe app Whering raises 7 million US dollars in latest funding round

With participation in Google AI Futures Fund, Whering is hoping to offer enhanced services powered by AI, such as generating suggestions that adapt to a user’s mood, the weather, or an occasion. It believes that with Google’s backing it can power a series of new in-app launches, such as automatically enhancing every uploaded image to a retailer-quality standard, adding a “gallery scanner” allowing users to extract and upload individual items directly from outfit photos in their camera roll, and adding a virtual try-on service to help users visualise how pieces work on their body.

David Benjamin from Google AI Futures Fund added: “Whering’s vision for a digital, AI-powered wardrobe that prioritises both personal style and the planet deeply resonates with us.

“We are thrilled to welcome them to Google AI Futures Fund and to support their journey in redefining the future of sustainable fashion through cutting-edge technology.”

Another enticing feature for investors is the way the platform gathers data about its mainly Gen Z user base’s habits, with its own research showing that 84 percent of its users now wear their clothes more often, while nearly 70 percent have reduced fast fashion purchases since adopting Whering into daily routines. In addition, over a third have also saved between 100 and 300 pounds annually.

Alexis Hoopes, vice president and global head of fashion at Ebay, said: “At Ebay we not only power recommerce, we empower the infrastructure that keeps fashion in rotation longer. This is exactly what Whering brings to industry and closets everywhere.

“The fashion industry’s buy, use, dispose model has been long overdue disruption, and with over 10 million users and digitised wardrobes, Whering is well positioned to be the catalyst.”

Whering is available to download on iOS and Android.

A series of escalating tariff regimes—most notably a universal 10 to 15 percent tariff implemented by the US—is triggering a massive reshuffling of global apparel sourcing. In addition, the US Trade Representative (USTR) launched a sweeping Section 301 investigation into forced labour compliance, threatening an additional 10 to 12.5 percent tariff on countries failing to strictly police their supply chains.

Impacts vary on apparel manufacturing and employment in traditional garment-producing hubs. According to the US Office of Textiles and Apparel (OTEXA), imports from India declined by 28.7 percent year-on-year; from Bangladesh by 16.4 percent, while those from Vietnam increased by 5 percent. FashionUnited has taken a closer look at the situation in Bangladesh, India and Vietnam

Bangladesh: Double-edged trade deal among job losses

Bangladesh's textile sector has faced severe turbulence, caught between shifting tariff structures, domestic cost spikes and labour unrest. On the manufacturing side, Washington and Dhaka signed the US–Bangladesh Agreement on Reciprocal Trade to stabilise trade after the 2025 tariff shocks. This agreement reduced Bangladesh's headline reciprocal tariff rate to 19 percent, with a pathway to 0 percent tariffs only if factories use US-origin cotton or man-made fibres.

This “managed trade” deal has created a massive cost-push squeeze. Forcing factories to move away from cheaper, diversified cotton to more expensive US inputs has eaten away at net profit margins. Furthermore, the looming USTR forced labor ruling threatens to slap an additional 10 to 12.5 percent duty on top, stalling long-term brand orders.

On the employment side, the margin squeeze has hit factories hard. Western buyers are aggressively demanding discounts and stalling further order planning. According to the Business and Human Rights Centre (BHRC), more than 20,000 garment workers have lost their jobs through retrenchments or factory layoffs in the first half of 2026. Small-to-medium factories are facing bankruptcy due to falling export prices and rising energy and compliance costs.

India: Order drops and growing factory tension

As if the recent heatwave was not enough, India's garment sector has struggled significantly under the weight of the tariff changes, leading to severe localised industry friction.

Unlike Mexico, India enjoys no sweeping trade exemptions and has seen its garment and textile exports to the US drop by 29 percent. US brands rapidly redirected orders to lower-cost hubs when tariffs fluctuated, and Indian suppliers have found it incredibly difficult to win those customers back. “All the customers are already calling me. They want us to shift from India to the other countries,” confirmed Pallab Banerjee, managing director at garment supplier Pearl Global, when speaking to Reuters news agency.

To make matters worse, India was included in the USTR’s list of nations facing a potential 10 to 12.5 percent forced labour penalty surcharge, casting a shadow over future orders.

On the employment side, the 29 percent export drop has triggered intense financial distress across India's primary apparel hubs such as Noida and Tirupur according to the Federation of Indian Export Organisations (FIEO). Factory management teams have frozen wage hikes and delayed salaries, citing immense financial pressure from US tariffs. This has sparked widespread labour protests and strikes involving thousands of garment workers protesting unpaid wages and high domestic inflation as reported by the BHRC.

Vietnam: Restored competitiveness but supply chain risk remains

Vietnam has emerged as a resilient player, though it remains highly vulnerable to rules of origin violations due to improper labeling, falsified certification and the like. On the manufacturing side, Vietnam was the biggest beneficiary of the US Supreme Court ruling with the previous punishing IEEPA tariff of 46 percent plummeting to the flat 10 percent Section 122 surcharge (layered over standard Most-Favoured Nation (MFN) duties). This has restored Vietnam's cost competitiveness, helping its overall textile and garment exports rise by 1.7 percent to 22.2 billion US dollars in the first six months of 2026 according to the the Vietnam Textile and Apparel Association (VITAS).

However, a major hidden risk persists: Vietnam relies heavily on raw materials from China. Under US trade rules, if any Chinese-origin input is flagged, the garment faces transshipment penalties with punitive tariffs up to 40 percent. To combat this, Vietnam has rapidly scaled up imports of US cotton (now holding a 47 percent market share) to guarantee compliance.

While overall employment has stabilised due to a 1.3 percent uptick in shipments directly to the US (valued at 6.81 billion US dollars according to VITAS), the labour market is shifting. Basic Cut-Make-Trim (CMT) factories are downsizing, while specialised facilities focusing on high-value, sustainable and automated digital manufacturing are seeing job growth.

“The Vietnamese textile and garment industry no longer has much room for growth in scale. The road ahead requires us to shift towards improving productivity, added value, proactively securing raw materials, diversifying markets and promoting digital transformation and green transformation”, stated VITAS chairman Vu Duc Giang in a recent announcement.

Outlook

Recent shifts in US trade policy have disrupted Asian garment manufacturing, triggering severe job losses and export declines in Bangladesh and India due to tightening margin pressures, while enabling Vietnam to boost shipments and pivot toward automated, high-value production.

Going forward, apparel brands will increasingly bifurcate their sourcing, concentrating high-value, compliant orders in tech-forward hubs like Vietnam while strictly squeezing prices or exiting struggling South Asian markets unless those regions can rapidly automate and absorb these tariff-driven margin pressures.

Paul Marchant, who resigned from his position as chief executive officer of Primark last year, joined George at Asda as a consultant. According to a representative of the brand, Marchant has been advising on long-term strategy for the George business

"Paul is working with the George team to provide consultative support as we set out our strategy to grow the George business," a spokesperson of Asda told FashionUnited.

Marchant stepped down as Primark CEO in March 2025, following an investigation into allegations of inappropriate behaviour towards a woman in a social setting. The executive acknowledged his error in judgment and admitted his actions fell short of Associated British Foods' expected standards.

George Weston, chief executive of ABF, said at the time he was "immensely disappointed" by Marchant's behavior. "At ABF, we believe that high standards of integrity are essential. Acting responsibly is the only way to build and manage a business over the long term,” Weston added. ABF has since announced a definitive plan to demerge its retail business, Primark, from its food operations.

On July 3, Asda announced Helen Connolly as the chief executive officer of George. The appointment marked a return to the business for Connolly, who had previously spent 15 years with George across two periods.

George is currently going under a retail expansion strategy, after introducing its first standalone concept store in 2025. The clothing label is now expecting to open 100 dedicated locations over the next five years. Allan Leighton, chairman of Asda, said Connolly is “the ideal person to lead George through its next phase of growth.”

British retail giant Next is believed to be preparing to launch a takeover bid for Harvey Nichols just days after the owner of the department store chain announced plans to sell the business.

According to Sky News, Next has entered the race to potentially acquire the struggling retailer from billionaire entrepreneur Dickson Poon, who is mulling either a sale or new investment to help revive the chain.

FTI Consulting was reportedly brought in to oversee the process as “difficulties” within the business persisted.

For the most recently reported fiscal year ended March 30, 2024, Harvey Nichols recorded a pre-tax loss of 35.3 million pounds, widening on the 21.1 million pound loss seen in the year prior.

For Poon, the sale would bring to an end 35-years of ownership over Harvey Nichols. The businessman first snapped up the retailer in 1991 for 53 million pounds, and he has since remained as the chair of the company.

Harvey Nichols currently operates several locations across the UK, including Leeds, Birmingham, Manchester, London and Edinburgh, as well as stores in Hong Kong, Saudi Arabia, Kuwait, Dubai and Qatar.

Its Knightsbridge flagship store in London is in the midst of a multi-million pound refurbishment led by CEO, Julia Goddard, who took on the helm two years ago.

Convenience store giant 7-Eleven has sued Nike over claims that the sportswear giant copied its signature tri-colour stripe branding for a new sneaker design.

The filing specifically pertains to Nike’s use of an orange, green and red stripe feature seen on its incoming Air Max 95 sneaker, scheduled to release on July 11, typically referred to as ‘7-Eleven Day’.

In the complaint, which was issued with the US District Court for the Northern District of Texas, Nike was accused of “a callous and malicious disregard for 7-Eleven’s rights”.

The retailer said Nike’s upcoming shoe bore a “confusingly similar imitation” of its tri-colour branding, and added that the trademark-protected branding element has been used for decades across consumer-facing initiatives, from marketing to product.

In a statement cited by Reuters, 7-Eleven said “based on the unauthorised use of our brand along with the impending launch in a matter of days on our birthday, 7-Eleven Day, we had to act quickly and decisively to protect our brand”.

The retail chain said it had attempted to resolve the dispute prior to the lawsuit filing, but Nike planned to move forward with the launch regardless.

7-Eleven, which claims consumers are likely to mistake the shoe as either sponsored or endorsed by the company, is asking the court to block Nike’s sale of the shoe entirely, recall any products already distributed, and to issue any profits from the sale of the footwear.

Amancio Ortega, founder of Inditex, reportedly manages a real estate portfolio valued at around 20 billion euros through his holding company Pontegadea, according to Forbes.

Pontegadea, led by its chief executive officer, Roberto Cibeira, reinvests a significant portion of the dividends Ortega receives from the Galician textile multinational into leased, income-generating properties.

According to a ranking compiled by Forbes in April this year, the entrepreneur is the world's largest individual real estate owner, ahead of developers such as Australia's Harry Triguboff and the US's Donald Bren. At the time, the magazine valued his portfolio at around 25 billion dollars, spread across more than 200 properties in thirteen countries.

The Coruña-based group concentrates its rental assets in prime office buildings, logistics centres and hotels. The US remains its primary market by number of properties and rental income, despite a strong pace of acquisitions in Europe over the past two years.

The valuation has been revised upwards from the April Forbes estimate as the holding company has continued to make purchases. Its latest transactions include the largest refrigerated logistics centre for Lactalis in Canada, located in Oshawa, Ontario, for around 115 million euros. It also acquired a logistics warehouse in Sevenum, Netherlands, leased to Tommy Hilfiger and Calvin Klein—both part of the PVH group—for 132 million euros.

Furthermore, Pontegadea is in exclusive negotiations to purchase the Parisian office complex Capital 8 from Invesco. According to Bloomberg, this deal could reach 850 million euros and would be the largest office sale in Europe since 2022. Forbes calculated in April that Ortega has invested 24 billion dollars in real estate over the 25 years since Inditex's stock market debut in 2001, acquiring 216 properties while selling just ten.

The latest official valuation of the portfolio, released through the holding company's accounts, corresponds to the end of 2024, when independent experts placed it at nearly 19 billion euros.

Gymshark founder and chief executive officer Ben Francis is believed to be in talks to buy back part of the stake held by private equity investor General Atlantic, according to the Financial Times, in a move that would increase his control of the activewear brand.

The discussions reportedly centre on the size and valuation of the transaction, with Francis also exploring financing options with banks. While he is said to have considered purchasing General Atlantic's entire holding, the report suggests a partial buyback is the more likely outcome.

General Atlantic acquired a 21 percent stake in Gymshark through a 200 million pounds investment in 2020, valuing the business at one billion pounds. Francis has retained a majority shareholding since the deal.

The reported talks come as Gymshark continues to navigate a more challenging trading environment. Revenue increased 6.5 percent to 647 million pounds in the year to July 2025, while pre-tax profit fell to 6.9 million pounds as the brand invested in physical retail expansion and restructured parts of the business to improve its European operations.

According to the Financial Times, Gymshark and General Atlantic both declined to comment on the discussions.

In recent years, the global textile and apparel landscape has transformed from a race for the cheapest labour to a high-stakes battle over supply chain data. While the EU and its trade partners are readying themselves for the upcoming Digital Product Passport (DPP), not a few are wondering which impact it will have on global logistics. Forward-thinking operators are looking at US Customs and Border Protection's (CBP) aggressive enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) as a real-world case study. The UFLPA represents the first time a major consumer market has successfully operationalised a “guilty until proven digitally innocent” standard for physical goods.

The UFLPA was signed into law in December 2021 and implemented in June 2022. According to the CBP definition, it “establishes a rebuttable presumption that all goods, wares, articles and merchandise mined, produced or manufactured, wholly or in part, in the Xinjiang Uyghur Autonomous Region (XUAR) of the People's Republic of China, or by an entity on the UFLPA Entity List, are made with forced labor and are prohibited under 19 U.S.C. § 1307 to enter into the United States”.

Guilty until proven digitally innocent

The sheer volume of the recent UFLPA enforcement actions highlights that customs agencies have broken past standard administrative boundaries and are actively choking off traditional logistics routes. CBP's data reveals that the agency has subjected more than 18,000 global shipments to rigorous forced labour reviews, totalling roughly 3.81 billion US dollars. For apparel, footwear and textiles, this means that in the last four years, more than 13,000 shipments were flagged, of which almost two thirds (62 percent or more than 8,000) were denied while about one third (34 percent or around 4,500) were released; the remaining almost 500 shipments (4 percent) are currently pending.

In a significant operational shift, CBP altered its auditing criteria this year to track enforcement at the specific “individual import transaction" level rather than by entire shipment entries. This granular deal-level auditing exposes every single item in a container to targeted data validation but also excludes those that are not subject to UFLPA enforcement actions. For example, a shipment under one bill of lading or airway bill may contain different types of garments like cotton t-shirts, cotton pants, polyester vests and manmade fibre jackets from multiple garment-producing countries like China, Malaysia or Vietnam. It may contain three items that are subject to UFLPA enforcement actions. While the previous auditing criteria would have flagged the whole shipment, it now flags individual items.

Logistics bottleneck

For the apparel, footwear and textiles industry, this data-driven gatekeeping has triggered an unprecedented bottleneck. CBP statistics show a major spike in targeted interventions, with consumer products and apparel climbing to represent roughly 56 percent of all recent UFLPA detentions; the apparel sector alone accounts for 22 percent of these stops. The operational friction is perhaps best illustrated by this compliance reality: In fiscal year 2025, when roughly 7,325 shipments were held for review under UFLPA parameters, independent legal and industry reviews noted that only a minuscule 6.5 percent of those initial holds managed to clear and gain entry into the US market.

What makes the UFLPA a true preview of the EU’s DPP framework is the aggressive targeting of transshipment hubs. Importers who believed shifting final garment assembly to Southeast Asia would hide upstream compliance gaps have been hit with a reality check. While China accounts for 76 percent of apparel detentions, secondary hubs like Cambodia (9 percent) and Vietnam (7 percent) are actively being flagged and held. This mirrors how the DPP will operate under the Ecodesign for Sustainable Products Regulation (ESPR). The EU will not just inspect where a jacket was stitched; its automated customs systems will interrogate the entire structural history of the garment, from the Tier 4 raw cotton fibre to the chemical toxicity of the dye batches.

Furthermore, the mechanics of how these shipments are managed has entered a highly standardised, digital-first environment. With the launch of the required CBP Forced Labor Portal, the US government effectively ended the era of ad-hoc emailing and messy physical paperwork, forcing brands into structured digital workflows for scope reviews and exception requests.

A product without a digital passport is like a defective product

The DPP will run on this exact philosophy but at a much grander scale. Brands exporting to the EU will be required to feed 49 mandatory data points, which were published on 13th May 2026, into machine-readable, interoperable formats (ISO/IEC 15459) linked directly to a central EU registry. These data points are divided into four categories - product identification and information, producer identification and compliance documentation - and ten garment types. The latter are t-shirts, shirts, sweaters, jackets, pants, dresses, leggings & socks, underwear, swimwear and textile accessories and include workwear and sportswear but not smart and medical textiles and intermediate products like yarns, fabrics and fibres.

The clear takeaway for the textile industry is that a failure in digital tracing is now legally equivalent to a defective physical product. The UFLPA has spent three years conditioning customs officials to demand verifiable, unalterable proof of origin down to the raw material level before letting cargo pass.

The upcoming DPP will merely expand this template from labour origins to holistic environmental footprints. For apparel brands, the blueprint has been written: if you do not build robust digital twin frameworks and absolute, tier-by-tier data transparency into your supply chain today, your physical inventory will simply rot in a customs warehouse tomorrow.

Comité Colbert, a French committee uniting over 90 luxury houses across multiple sectors, formalised a Memorandum of Understanding (MoU) with the French-Indian Chamber of Commerce and Industry, with the ambition to support the development of French luxury houses in India and remove the main barriers to their establishment in this growing market.

The partnership was formalised in the presence of Sanjeev Singla, ambassador of India to France; Éléonore Caroit, minister delegate to the minister for Europe and foreign affairs, responsible for Francophonie, international partnerships and French nationals abroad; and Marc-Antoine Jamet, secretary general of LVMH.

Comité Colbert aims to accelerate French luxury development in India

The observation is that brands established themselves in India relatively early. However, many subsequently slowed their investments due to a lack of growth. According to Bénédicte Epinay, general delegate of Comité Colbert, the situation has changed profoundly in recent years and brands must reassess the potential of the Indian market.

India has numerous cities with over ten million inhabitants and is now the third country in the world for the number of billionaires. It also has a significant population of millionaires.

To illustrate this potential, Jamet cited a few figures: ten million weddings are celebrated in India each year. A wedding lasts an average of four days. For one of these days, guests wear Western outfits, thereby creating opportunities for French houses.

Another indicator: LVMH employs around 300 staff in India, compared to approximately 20,000 in China. The group wishes to reach a level comparable to that of China and have as many stores in India as it does in France.

Closer trade relations with India appear to be a response to the uncertainties surrounding trade with the US and China. However, there are still three barriers to entering this market.

Non-tariff barriers (BIS), main obstacle to luxury development in India

Comité Colbert is making the simplification of non-tariff barriers its priority. The constraints particularly concern tannery processes and certain chemical substances, which are banned in India but permitted in other countries. Companies must undertake numerous administrative procedures with multiple authorities.

For some luxury houses, compliance costs are equivalent to, or even exceed, the turnover generated in India.

Customs duties remain very high on many product categories. They are the primary obstacle to market entry. Free trade agreements between the European Union and India should, however, gradually eliminate these duties. The stated objective is for customs duties to be abolished within approximately five years.

According to the European Union representative, this is the most significant free trade agreement ever concluded between the European Union and a single country. It is expected to facilitate both European exports to India and the trade of raw materials such as diamonds and precious stones.

On the distribution side, premium shopping centres are a recent development. The main high-performing malls have been established within the last ten years. The Jaya World mall in Mumbai opened in 2023. The high-end retail offering is therefore still under construction.

The MoU is the first international partnership of its kind focused on the Indian luxury market. It includes plans for round tables, symposiums, professional delegations, dialogues with public authorities and cultural exchange programmes.

Production workers in Tuscany, Italy, are preparing to go on strike on July 9 as calls for a restructuring of the supply chain landscape escalate.

According to figures provided by local trade unions, 830 leather goods companies in the province of Florence have closed since 2019, affecting 7,000 employees who were partially reabsorbed by other brands. Meanwhile, in the last two years, the use of the temporary redundancy fund has increased by 250 to 260 percent.

830 leather goods companies closed in Florence province since 2019

"We challenge the designer labels to come to the table to redesign the district together. The workers cannot be the ones to pay for the crisis; capitalism cannot be purely extractive; we must rebuild the quality of this district together," said the Florentine secretary of the CGIL, Bernardo Marasco, in a recently recorded video. Trade union representatives will take to the streets in Florence on July 9 to protest against the crisis in the fashion sector and to find solutions.

The unions are demanding urgent answers to avoid the risk of deindustrialisation. The Florentine secretary of the CGIL, Bernardo Marasco, added that “we are not only gambling with an industrial model but also a social one”. Among the points highlighted by the unions to revive the sector are anchoring production to the region, implementing reshoring policies to bring back offshored production to Italy, and ensuring traceable and sustainable supply chains.

Unions state brands must safeguard employment in the district

In detail, five proposals have been put forward by CGIL Florence, CISL Fi-Po, UIL Tuscany Coord. Florence and the relevant categories (for CGIL: Filctem, Fiom, Filcams, Filt) to save the sector.

A statement read: "We ask the Region to reconvene the sector's round table and involve the large groups present in the area. The major brands must maintain production volumes in our territory. For these brands, our territory must remain the benchmark and centre of excellence for production, design and product creation activities; they must, therefore, implement reshoring policies.

"At a time when new markets are opening up, such as South America, with the EU-Mercosur free trade agreement that came into force on May 1, 2026, it is even more important that production remains anchored to the territory. Trade benefits must not translate into offshoring. The region has a strong manufacturing tradition that must be preserved. Brands must safeguard employment in the district and guarantee the full use of social safety nets aimed at maintaining employment and skills in the area."

Access to credit and financial support are other desired measures

Furthermore, it was stated that "the production chains of our district must be legal, traceable, sustainable, and characterised by excellent workmanship. They must continue to be composed of all the product components of the production cycle. It is necessary for major brands to implement policies to shorten subcontracting levels, taking into account the absorption of existing skills within them".

The organisations added: "They must openly commit to the full legality of their supply chains in collaboration with public control bodies and trade union organisations. They must also commit to guaranteeing margins for the economic sustainability of the entire production chain."

Access to credit and financial support are other measures suggested by the unions.

The fourth point is professional training, which "must be the subject of shared planning between brands, the business system, social partners and the public body. This should enhance existing tools, from bilateral bodies to inter-professional funds, and build targeted paths to preserve and renew the manufacturing knowledge of the district".

Finally, as the fifth point, the unions demand that European structural funds for Tuscan SMEs be accompanied by clear employment clauses and tenders accessible even to the smallest artisan businesses. These businesses "form the productive backbone of our district, together with the safeguarding of our territory's commercial and logistics chain, which is essential to guarantee employment and continuity of flows".

For decades, luxury houses have mastered their image down to the finest detail. Every customer touchpoint, from advertising and window displays to boutiques, social media and runway shows, was meticulously scripted. This dynamic is now changing.

According to the fifth edition of the 'Luxury & Technology' study, published June 30 by the Comité Colbert and Bain & Company, artificial intelligence is no longer just a new internal tool. It is gradually becoming a new channel for brand discovery, forcing houses to rethink their visibility strategy far beyond traditional search engines.

This is a particularly crucial development, as consumers appear to be adopting the technology faster than the companies themselves.

Customers have already adopted AI

The figure is undoubtedly the most revealing of the study. Among top luxury clients, 82 percent report having used an AI tool during their last purchase. They use it to compare products; discover new brands; get recommendations; or prepare for their boutique visit. Even among consumers who ultimately bought in-store, nearly one in two had consulted an AI beforehand.

In other words, a part of the customer journey no longer begins on Instagram, Google or in a flagship boutique. It now starts with a conversation with a conversational agent.

A stated priority, but with few results so far

In 2024, 22 percent of luxury houses now place artificial intelligence among their top three corporate priorities, compared to only 5 percent two years earlier. More broadly, 61 percent now include it in their top ten strategic priorities.

However, the transformation remains largely unfinished.

Since 2024, the deployment of AI has progressed significantly in support functions, such as procurement, finance, human resources and operations, where productivity gains are most immediate. In contrast, customer-facing applications are advancing much more slowly. Crucially, fewer than one in five executives believe that AI projects have already had a significant impact on the business.

New battle: from AEO to the end of 'commodity content'

This is probably the main takeaway from this study, which aligns with the analyses shared by experts at the WAN-IFRA conference in Marseille. The industry is no longer just talking about SEO, but about AEO (Answer Engine Optimization), which is optimisation for answer engines.

According to Bain & Company, nearly 70 percent of luxury-related queries to generative AI do not mention any brand. Users ask, for example, which bag to buy or what watch to give as a gift, without mentioning a specific name. Furthermore, 90 percent of the links cited by the models direct to third-party sites rather than official brand websites.

During the conference in Marseille, search expert Jan-Willem Bobbink pointed out that “When an AI answer appears at the top of a search, a website loses an average of 40 percent of the traffic it would have captured if it were in the top five traditional results.”

'Commodity content' trap

This transition creates a clear distinction between two types of content:

• Cold or 'commodity content': Basic buying guides, generic tip lists and in-depth articles with no unique historical value are the hardest hit. AI summarises them perfectly, depriving brands of clicks.

• High-value experiential content (non-commodity content): As expert Clara Soteras highlighted at the WAN-IFRA conference, the key to surviving AI is to produce content based on unique perspectives, behind-the-scenes insights and authentic field expertise, which algorithms cannot invent.

Great return of fundamentals: AEO is still SEO

However, the challenge is not to reinvent the wheel. Behind the jargon of GEO (Generative Engine Optimization), the rules for optimising for ChatGPT, Perplexity or Gemini remain the same as for Google: a clear editorial structure with short paragraphs and precise subheadings; structured data; and strong brand authority. As Jan-Willem Bobbink ironically summarised to publishers: “It’s classic SEO with 50 percent more expensive packaging. It’s exactly the same thing.”

For luxury houses, historical advertising power is no longer enough. To exist in the AI era, they must become indispensable sources of authority, widely cited by third parties, to ensure that the 'conversations' of conversational agents are in their favour.

Not all houses start with the same advantages

The study also reveals an unexpected phenomenon. A house's economic power no longer automatically guarantees its visibility with AI.

Among the thirty most visible houses in generative engines, 70 percent of groups with revenues over 5 billion euros capture less visibility than their actual market share. Conversely, some houses with revenues under one billion euros manage to significantly outperform.

In other words, AI could redraw the balance of power and redefine the competitive landscape.

In this environment, several factors could gradually become as important as advertising power. These include the quality of published content; editorial richness; a presence on reference sites; and the ability to be cited by credible sources.

This development explains why some brands have already started reworking the editorial content of their product descriptions to improve their visibility in ChatGPT or Perplexity.

Towards a more conversational luxury

Beyond visibility, Bain and the Comité Colbert identify four major uses likely to permanently transform the customer experience: conversational commerce, AI-assisted personalisation, copilots for in-store advisors and a new generation of CRM and clienteling tools.

The common thread of these innovations is that they do not seek to replace the human relationship, but to enrich it.

At this stage, the most advanced application remains assisting in-store sales staff, providing them with real-time information on a customer's preferences, available stock or personalised recommendations. This application improves service without undermining the central role of the advisor.

New battle of influence

Ultimately, this study is less about the emergence of artificial intelligence in luxury and more about a shift in prescriptive power.

For a long time, houses sought to appear on the first page of Google or in social media feeds. Tomorrow, they will also have to convince AI models to recommend them when a user asks which coat to buy, what watch to give or which house best embodies a certain craftsmanship.

The battle for desirability now begins in a conversation.

Interview

British footwear brand FitFlop, founded by wellness entrepreneur Marcia Kilgore in 2007 and known for its ergonomic and wellness footwear, is undergoing a brand evolution to transform into a global lifestyle brand, aiming to "own summer" by focusing on women's footwear and expanding its reach through strategic collaborations to become a billion US dollar company.

In the past five years, since the appointment of former Ugg and Coach executive Gianni Georgiades as chief executive in 2021, FitFlop has been on a journey to reset its global brand image, transforming itself from a functional, comfort shoe aimed at an older consumer looking for orthopaedic relief into a design-led, science-driven innovative footwear brand, where “style is fused with comfort”.

“I’ve been here five years, and the brand has gone on a real evolution,” said Georgiades in an exclusive interview with FashionUnited at the brand’s SS27 conference. “We had great foundations and obviously heritage, but we weren't realising our full potential. To do so, I needed the team, the product, even the back-end operations all set up to deliver; that takes time, which is why I always set out for spring 2027 to be our big moment.”

Working alongside Georgiades on FitFlop’s brand reset is Louise Noble, chief product and brand officer, who joined the footwear company in late 2024, tasked with shaping the global creative, strategic, and innovative future of its product offerings. With experience as global category director of active lifestyle at Vivobarefoot and senior roles at Clarks and Nike, Noble has more than 25 years of experience across product creation, merchandising, and sustainable innovation, and her first fully directed collections for FitFlop are scheduled to debut for spring/summer 2027.

Other key members include Phil Brunetti, the brand’s head of product merchandising; Chris Anderson, footwear design director, who joined the company in May 2025; and Kim Lilley, innovation and product development director of product, who has more than 12 years of leading research and development projects and serves as FitFlop’s in-house biomechanist.

Georgiades added: “The starting point was having the right team. Before we started about product, before team culture, I needed a team around me that could sit in a room and plan and strategise and build things forward.

“There are a lot of brands now that talk about comfort, wellness and the science that goes in the product, but I can tell you nobody in casual or lifestyle footwear does what we do. We know what goes into making a performance product. We have 20 years of history; our technologies are real, they all stand for something, they all work. Now we need to fuse our technology and science with that comfort, without sacrificing style.”

SS27: Start of FitFlop’s evolution to drive global brand ambitions

As part of its ambition to become a global lifestyle brand, SS27 is FitFlop’s realisation of a “new era” of comfort, evolving its footwear brand, designed primarily for women, with a clear ambition to design “for women who make the ordinary extraordinary,” underpinned by its in-house biomechanics lab led by Dr Kim Lilley, which builds products utilising extensive scientific understanding of the female body to ensure that styles supports women through every part of their day, “empowering every movement from the first step to the last”.

As FitFlop enters its new phase of accelerated growth, the footwear brand is concentrating its efforts on collections that “feel purposeful, wearable and culturally in tune,” in response to global consumers increasingly seeking product that truly fits the way they live and “demanding comfort,” explains FitFlop’s CEO, with its core collections for SS27 bringing together “biomechanics, design and cultural insight to create product that supports the body intelligently, while connecting with how people want to live, move and express themselves today”.

“Women’s is the most important category to get right, and is our focus,” said Georgiades. “Whilst we still take care of men, we still bring out new products, ensuring that it's relevant product; it's women's where our focus and investment is. We want to create beautiful product that is comfortable. Comfort used to be a dirty word, but I’m not ashamed to say it, we’re going to own it, because we already own it, we're just not driving it hard enough, but that changes now.”

While open-toe styles, which the brand is known for, are still very much a key component of its upcoming drops, there is also a strategic move into “transitional close-toe” products, with the brand reporting “phenomenal” growth in its sneaker and ballerina styles.

Georgiades added: “With SS27, we’re setting a new direction for FitFlop, one that puts design and performance on equal footing. We’re seeing a clear shift in the market toward footwear that must deliver across multiple expectations: it needs to perform, it needs to be wearable, and it needs to feel relevant.”

A key highlight for SS27 is its iQushion products, tipped as the brand’s entry market styles, offering lightweight and flexible flip-flops and pool slides, in bold, playful colours, featuring technology that makes every step “feel soft, springy and light,” due to the high-rebound cushioning that absorbs impact and bounces back, while reducing fatigue and keeping movement smooth.

“iQushion is going to be something quite special over the next few years,” explains Georgiades. “It’s not just flip flops, it’s a really important part of our strategic approach to own summer. The market leader in that category has a tremendous business, but they don't have what we have; theirs is basic and not very comfortable, our technology makes them flip flops that you can live in.”

FitFlop to use collaborations to drive brand reach

With its core collections taking shape, FitFlop is also looking to drive brand awareness and expand its creative reach with a series of brand and designer collaborations.

With success from its partnership with London Fashion Week designer Roksanda, FitFlop is implementing a three-track strategy, designer collaborations that are “more direction, unexpected” partnerships, alongside more “commercial” collaborations, such as upcoming collections with Pantone and Haribo, as seen with its recent line with Keith Haring, which drew inspiration from the artist’s use of streets and subways of New York as a living canvas. In addition, FitFlop plans to add local collaborations with local designers to ensure “cultural relevance” in key markets, such as Asia, which is shaping up to be one of the brand’s strongest markets.

“The collaborations we do, it's really about generating interest, brand heart,” adds Georgiades.

FitFlop CEO: Global success comes with having the “right partners”

Since joining the business, Georgiades states that FitFlop has grown “every single year,” and 2025 was a financial record year, reaching 170 million US dollars, up from 114 million US dollars when he arrived.

“I have no doubt in my mind that this can be a billion-dollar brand,” adds Georgiades. “I've worked for billion-dollar brands, so I know it can be, because those billion-dollar brands don't do what we do. “We’ve sold more than 75 million pairs worldwide - the consumer is choosing our products, and even during the last few years where the world has been in turmoil, we grew nearly 60 percent. We're in that period where wellness, comfort, how a woman feels is really important. Once we fuse that style with comfort, which is what we're doing right now, the acceleration will come.”

The UK is the brand’s home market; however, it doesn’t have a standalone store here, but rather a multi-brand distribution through department stores, such as Selfridges and House of Fraser, whereas in Asia and the Middle East it has utilised distribution partners to roll out stores and brand reach.

Georgiades added: “We are a small to medium-sized brand. So, for us to be able to really scale, we need the right partners, and the likes of Samsung C&T Fashion in South Korea, Apparel Group in the Middle East, Whiteplane in the Philippines, and Albion 1879 in Spain are helping us to scale locally.

“They have the infrastructure, they have the experience, the right retailers and wholesalers. We couldn’t do it on our own. We see our disruptors as an extension of our team, and we work in partnership.”

FitFlop taking on Europe and South Korea

The most recent of those collaborations was with Albion 1879, which introduces, develops and manages international brands in the Iberian Peninsula, including AllSaints and Ugg, and opened FitFlop’s first-ever store in Spain, in Puerto Banús, Marbella, as part of the British footwear brand’s European retail expansion strategy.

Spain is described as a “strategic market” for FitFlop, and Albion 1879 are accelerating brand visibility and activation across the market, supporting the brand's vision to build momentum across Europe.

Growth in Europe will also be supported by a new warehouse hub in mainland Europe, which is set to open in the autumn. Georgiades adds the move will allow the brand to “really accelerate its digital business” across the region, with Germany and Switzerland being key targets for the brand.

“Brexit does not help trading with mainland Europe now,” states Georgiades. “The demand is there, but the service hasn’t matched it. You try being a customer waiting weeks for your product and paying a premium. Having a distribution centre in mainland Europe is a game-changer for us, and we need it to absolutely power what we want to achieve in mainland Europe. I really believe it will push our digital business through the roof.”

FitFlop has also started accelerating its South Korea expansion through an exclusive partnership with Samsung C&T Fashion, responding to consumers increasingly prioritising wellbeing alongside functionality and style, with comfort-led footwear emerging as a “high-momentum category,” explains the British footwear brand.

“South Korea is a market that doesn’t just follow trends, it helps set them,” explains Georgiades. “As consumers look for footwear that supports how they feel and live, we see a powerful opportunity to grow a category that blends style with real-world performance. Partnering with Samsung C&T Fashion enables us to scale with precision, combining the biomechanical expertise of FitFlop with their outstanding local retail and digital capability to build long-term brand momentum.”

Under the partnership, Samsung C&T Fashion lead FitFlop’s retail, digital and wholesale operations across South Korea. The company currently operates 22 premium shop-in-shop locations at key destinations, including Lotte Department Store Jamsil, Shinsegae Gangnam and Hyundai Department Store Trade Center. This retail presence will also be supported by “a robust online strategy and a broader wholesale distribution network”.

The first standalone concept store between the two opened recently at Starfield Suwon Mall, establishing the brand’s physical footprint in the country to bring the product experience closer to Korean consumers. The goal is to expand this concept store strategy to 30 locations across South Korea by the end of 2026.

FitFlop has a presence in 88 countries, through more than 5,000 stores and over 2,000 retailers. The footwear brand operates 89 concept spaces across the UK, Europe, the Middle East, India and APAC, and has showrooms in London and New York.

The White House has chosen not to renew its trilateral trade agreement with Canada and Mexico, also known as USMCA. The Trump administration has opted to conduct annual reviews of the deal after disagreeing with its current form.

In a statement, US Trade Representative Jamieson Greer said that following the most recent joint review, the US would continue to engage with Mexico and Canada to “address the agreement’s shortcomings and our trade deficits with these countries”.

The deal currently remains in force for the next 10 years pending resolution of these issues or until its termination. The US will meet with Mexico the week of July 20 for a third round of negotiations.

President Donald Trump had initially touted the USMCA as the “fairest, most balanced” trade agreement signed into law, yet his sentiments began to wane into his ongoing tenure as relationships between the neighbouring regions soured.

The deal came into question alongside other trade agreements Trump had deemed unfair towards the US. Upon taking up his presidency, Trump sought to establish deals he perceived as more favourable by imposing retaliatory tariffs on regions like the EU and beyond.

In February 2026, however, his plans faced a major setback when the Supreme Court ruled that the use of the International Emergency Powers Act (IEEPA) for broad duties was illegal, and ordered US Customs and Border Protection to process tariff refunds to impacted organisations.

The US then implemented a 10 percent across-the-board temporary import surcharge, set to expire July 24. The administration also expanded investigations targeting specific sectors and introduced a new wave of tariffs over concerns regarding forced labour.

Chanel announced the acquisition of shirtmaker Charvet on Thursday. The decision follows a historic relationship spanning several decades between the two French houses.

After 188 years of independence, the Parisian company Charvet is beginning a new chapter by joining the portfolio of luxury group Chanel. The financial details of the transaction have not been disclosed. The luxury brand emphasizes, however, that this acquisition is being carried out with “full respect for Charvet’s creative independence.”

In a message on its LinkedIn account, the house of Chanel noted that the two companies “share a common history and values: artisanal excellence, attention to detail and the transmission of unique know-how.” The house presents this acquisition as a continuation of a “creative dialogue established between Matthieu Blazy and Charvet since his first collection.” However, the link between the two companies is older.

Gabrielle Chanel herself wore shirts from the Charvet brand, as noted in the show notes for Chanel's spring/summer 2026 collection. In this show, Matthieu Blazy's first for the label, several looks featured the garment. The piece was weighted with a Chanel chain and designed in collaboration with Charvet.

Ensuring the sustainability of Charvet

The acquisition of the Charvet brand aims to “ensure the longevity of this emblematic house of French heritage and its unique craftsmanship,” Chanel stated. Located on the prestigious Place Vendôme, the Parisian house has existed since 1838 and has dressed several illustrious historical figures, including Winston Churchill.

“We are delighted with this partnership with Charvet, as it holds a unique resonance for Chanel,” said Bruno Pavlovsky, president of Chanel Fashion and Chanel SAS, in a statement. “It reflects a shared approach to craftsmanship: with exacting standards, respect, and the conviction that it only truly comes into its own when it is cultivated over the long term.”

"At Chanel, we have always considered it our responsibility to support, preserve and keep alive these rare gestures, which embody both artisanal excellence and an essential part of our cultural heritage," says the executive

Madrid – The Inditex group has successfully completed the share buyback programme announced in early February. The programme was designed to increase the company's treasury shares to meet obligations from its Long-Term Incentive Plans for certain members of its management team and employees. This operation was finalised with a saving of approximately 19.5 million euros against the maximum planned expenditure.

As a starting point for this latest update, Zara's parent company Inditex had kept a share buyback programme open. On February 4, 2026, Inditex reported that its Board of Directors had approved the launch of a temporary share buyback programme during its meeting that day. The process was intended to ensure the company could meet its share delivery obligations to certain members of its management team, including its executive director, and other employees. These obligations were contracted under the first and second cycles of the 2023 to 2027 Long-Term Incentive Plan and the 2025 to 2029 Long-Term Incentive Plan.

Guidelines and limits were established for its proper execution. The programme involved the repurchase of up to a maximum of three million outstanding Inditex shares, representing 0.096 percent of its share capital, for a maximum amount of 180 million euros. This amount was the limit for repurchasing up to three million shares. The company planned to acquire these shares in two tranches. The first tranche, from February 5 to March 31, was for up to 1.6 million shares. The second, from May 1 to June 30, 2026, was for the remaining 1.4 million shares.

Saving of 19.5 million euros

Strictly adhering to the planned schedule, on March 25, Inditex informed the National Securities Market Commission (CNMV) that it had successfully completed the first tranche of the buyback programme. The company had reached the maximum limit of 1.6 million shares. These shares were repurchased before the March 31 deadline for that tranche. They were acquired by Inditex through a series of operations concentrated in the periods of February 5 to 6; March 12 to 18; and March 19 to 25. During these periods, the company repurchased its 1.6 million shares, mainly after presenting its 2025 financial year results on March 11. A total of just over 82.67 million euros was allocated for this purpose.

Following a similar pattern, Inditex began executing the second tranche of the share buyback programme after presenting its first quarter 2026 results on June 3. The tranche was scheduled for May 1 to June 30 but was completed entirely within June. A series of share acquisitions were concentrated in the periods of June 4 to 10; June 11 to 17; June 18 to 24; and June 25 to 30. By the June 30 deadline, Inditex informed the CNMV that it had successfully completed the second tranche, again reaching the maximum limit of 1.4 million shares. The company spent just over 77.81 million euros on acquiring these shares. This amount, added to the 82.67 million euros from the first tranche, brings Inditex's total expenditure on the programme to just over 160.48 million euros. This is approximately 19.51 million euros less than the 180 million euro maximum set by the company.

Share prices from 49.29 to 57.92 euros

The shares repurchased by Inditex were acquired within a price range of 49.29 euros to 57.92 euros per share. The lowest price was paid in transactions on March 23, while the highest price was recorded on February 5.

In the final operations of the buyback programme, from June 25 to 30, Inditex repurchased just over 325,350 shares for more than 18.12 million euros. These funds were used to acquire shares at prices ranging between 54.60 and 56.84 euros.

To put these operations into context, the buyback programme's execution range of 49.29 to 57.92 euros aligns with the movement of Inditex's shares during the same months. The shares fluctuated between a low of 48.29 euros on May 13 and a high of 58.28 euros on February 20, 2026.

As a final update, Inditex shares closed at 55.12 euros per share on June 30, the deadline for the buyback programme's execution. This value was 2.62 percent lower than the 56.60 euros per share closing price on February 4, the day the programme was announced. The shares closed the session last Wednesday, July 1, at 55.74 euros per share.

Led by Germany, France and the Netherlands, an increasing number of EU member states are calling for coordinated European action against fast fashion and ultra-fast fashion.

The three member states raised the issue at the EU Environment Council in Luxembourg on Thursday. They appealed to the European Commission to make existing and planned EU regulations against short-lived and low-quality textiles more effective. Their call was supported by other member states, including Slovenia and Denmark.

“Ultra-fast fashion is only worn for a short time, but causes long-term trouble. Once discarded, it can hardly be reused as second-hand clothing or recycled, and it overwhelms used clothing collections. This puts a strain on resources, the climate and waste management. It also puts pressure on companies that invest in durable and circular textiles. We therefore call on the EU Commission to impose higher sustainability requirements on ultra-fast fashion manufacturers. Cheap, disposable clothing must no longer be a competitive advantage,” urged State Secretary for the Environment Jochen Flasbarth.

Clear criteria demanded

As FashionUnited previously reported, laws and regulations are currently being adapted in Germany to align with the “EU Strategy for Sustainable and Circular Textiles”, which was adopted as part of the EU Green Deal. This includes shaping the regulations for textiles under the EU Ecodesign Regulation and incorporating requirements for recycled content, durability and recyclability.

Germany is also calling for clear criteria to “precisely define and accurately regulate ultra-fast fashion as a business model,” according to a press release from the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection.

Extended producer responsibility for textiles is another important lever in the fight against fast fashion and ultra-fast fashion. “Those who place large quantities of short-lived clothing on the EU market should also contribute appropriately to the costs of collection, sorting, reuse and disposal,” the Federal Ministry stated.

Online retail must be included

Germany, France, the Netherlands and other supporting member states are also advocating for European environmental and product standards to apply to online retail. This includes online platforms and direct sales from third countries such as Shein, Temu and others. At the turn of the year, a law banning advertising for ultra-fast fashion is set to be introduced in France.

As of July 1, customs duties will also apply to parcels from non-European countries, and the previous threshold of 150 euros for goods value will be abolished. Instead, a flat customs fee of 3 euros will be levied per product group in the parcel, and an import turnover tax will also be charged. This is intended to curb, if not stop, the flood of cheap products from non-European countries.

From July 19, 2026, large companies will be prohibited from destroying certain unsold products intended for consumers under the Ecodesign Regulation.

On Wednesday, luxury group Richemont, parent company of Cartier, announced it has finalised the sale of watchmaker Baume & Mercier to the Italian Damiani Group. The initial agreement for this private transaction was made public on January 22, 2026. It involves the acquisition of 100 percent of the Swiss brand's shares, with all prerequisite conditions having been met. The financial terms of this operation have not been disclosed.

Strategic transaction for the 'hard luxury' segment

This announcement demonstrates the desire of specialised independent groups to consolidate their position in the competitive 'hard luxury' market. Integrating a house with over 200 years of heritage allows the Damiani Group to diversify its offering beyond its jewellery brands (Damiani, Salvini, Bliss and Calderoni) and its art glass brand (Venini).

Development prospects and integration

The Damiani Group's long-term growth strategy for Baume & Mercier will initially focus on the Italian market, where the brand already has a solid presence. The group plans to use its own distribution network, particularly through its Rocca banner, which specialises in watches and jewellery.

Commercial expansion will also involve international retail development, with the gradual opening of its own boutiques in strategic locations. To ensure business continuity during the integration phase, Richemont will continue to provide operational services for a transitional period.

Reactions from the respective management teams

The leaders of both entities highlighted the complementary nature of this agreement. Nicolas Bos, chief executive officer of Richemont, stated in a press release: “The Damiani Group is a long-standing partner of both Baume & Mercier and Richemont. It successfully operates several of our partner boutiques and distributes watches from several of our houses within its Rocca network. Given Baume & Mercier's strong presence in Italy, its predominantly multi-brand distribution model and its positioning in the accessible luxury segment, the Damiani Group is ideally placed to support the house in a new phase of its development. We are confident that we have found the best home for Baume & Mercier to continue its growth in the years to come.”

Guido Damiani, executive chairman of the Damiani Group, confirmed this expansion ambition: “We are particularly pleased to welcome the house of Baume & Mercier into the Damiani Group's portfolio. This acquisition is a major step in strengthening our presence in the world of fine watchmaking and is fully in line with our long-term growth strategy.”

The executive also stated his conviction that the group will be able to “unlock the full potential of the house while preserving and enhancing its remarkable watchmaking heritage.”

Last May, the Richemont group announced its results for the staggered 2025/2026 financial year, reporting a 27 percent increase in net profit to nearly 3.5 billion euros. Its turnover for the past financial year, which ended at the end of March, rose by 5 percent year-over-year to 22.4 billion euros. This growth was driven by jewellery and demand in the Americas.

Nordic retail giant Kappahl Group has acquired a majority stake in Arkivet Second Hand, reflecting a strategic move to strengthen its position in circular fashion and expand resale capabilities.

Arkivet, known as Sweden’s leading secondhand retail chain, will continue to operate its 'Modern Second Hand' concept, which combines curated pre-owned assortments with an in-store shopping experience. The acquisition intends to support its expansion both within the Nordics and internationally.

For Kappahl, the investment aligns with its broader strategy to build a portfolio of brands while developing circular business models across the group. The company also operates Newbie alongside its core Kappahl brand. The group said it will continue developing its own circular initiatives while supporting Arkivet’s growth as part of a wider sustainability strategy.

In a statement, Elisabeth Peregi, president and CEO of Kappahl Group, said: “We are impressed by Arkivet’s concept, which presents and offers second-hand fashion in a modern way to customers who want both to buy and sell pre-owned garments.”

She added: “This is an important and exciting step for us. Arkivet represents a business model we strongly believe in and one that has a natural role in a more responsible fashion industry, where garments are given a long life.”

Arkivet CEO Martin Hallander said the partnership would help scale the business, stating: “We are genuinely proud to welcome Kappahl Group as a partner. With its strong Nordic presence and extensive experience in brand building, we see great opportunities to scale the Modern Second Hand offering together.”

He added that the collaboration provides “better conditions for continued expansion and development, while remaining true to who we are as Arkivet.”

Fashion e-tail giant Asos has completed the disposal of its Atlanta fulfilment centre, in a transaction that forms part of its ongoing programme to sell non-core assets and simplify its logistics footprint.

The lease for the US site has been assigned to a global consumer brand, while the associated automation assets have been acquired by a member of the DHL Group. The deal generates net proceeds of around 48 million pounds and is expected to deliver annual cash savings of approximately six million pounds.

Asos said the asset was non-operational and had already been fully written down in prior periods. The sale follows a series of recent balance sheet actions, including refinancing activity and earlier warehouse disposals, as the group continues to streamline its operations.

The company said the transaction supports its 'Efficient Operating Model' strategy, focused on capital discipline and improved cash generation.

In a statement, Asos chief executive officer, Jose Antonio Ramos, said: “The disposal of Atlanta is another clear demonstration of us delivering on our commitments - strengthening the balance sheet, simplifying the business and maintaining strict discipline in how we allocate capital.

"Since closing the Atlanta fulfilment centre, we have successfully transitioned to our new US operating model, giving customers access to a broader product assortment from our global inventory.”

Paris - For the seventh consecutive year, online sales set a new record in 2025. Sales were up by 7 percent, with French consumers spending almost 200 billion euros online, the Fédération du e-commerce et de la vente à distance (Fevad) announced on Wednesday.

E-commerce is “firmly established in the daily lives of French people,” Marc Lolivier, general delegate of Fevad, said in a statement. He highlighted the sector's “resilience” in “an uncertain political and economic climate”.

However, e-commerce has no “immunity to crises” and is “more sensitive than ever to household spending decisions,” he told AFP. In 2024, online sales also achieved their best result with a turnover of 175.3 billion euros.

75 online orders per year

The number of transactions increased by 11 percent in 2025, across a panel of 158,000 e-commerce sites in France surveyed by Fevad. French consumers place an average of 75 online orders per year, more than one per week, for an annual total of 4,657 euros.

Last year, sales of services “maintained their momentum” with a 9 percent increase, compared to 4 percent for product sales.

Specifically, shoppers primarily order homeware and apparel online. Overall, non-food sales are very prominent on e-commerce sites.

Furthermore, “second-hand fashion is becoming a permanent fixture in e-commerce habits,” noted Fevad. Four out of 10 online shoppers ordered at least one pre-loved item during the year. The Vinted platform is the second-largest site by customer numbers in France in 2025, with over 10 million users, behind the giant Amazon.

According to Lolivier, e-commerce continues to face “significant challenges.” Among these, Fevad highlights an “unprecedented technological acceleration,” driven by the “key lever” of artificial intelligence (AI). In fact, 94 percent of online sellers have integrated generative AI into their platforms, and nearly one in three customers use it while shopping.

AI is the central theme of Fevad's annual conference, which brings together key industry players for various panel discussions on Wednesday in Paris.

Environmental intelligence platform Carbonfact has released a free, open-source database featuring detailed environmental impact data for textile manufacturing, arriving shortly after the company's acquisition of fellow fashion sustainability platform Vaayu in May.

The database contains 300 Life Cycle Inventory (LCI) datasets covering core processes such as spinning, dyeing, and weaving. By measuring emission factors across all 16 European Product Environmental Footprint (PEF) environmental indicators, the tool provides roughly 4,800 specific impact scores to help brands rigorously map their supply chains in compliance with evolving European legislation.

With this release, the French software company aims to address a long-standing issue in the fashion industry: the lack of transparent, auditable data. Most existing emission databases lean on generic sector averages. For example, a dyeing process typically receives a single emission factor regardless of the specific machinery, chemicals, or fiber types used. Carbonfact’s database disaggregates data at the unit-process level, allowing fashion brands to inspect individual parameters or swap them out for primary data collected from their own suppliers.

The launch strategically positions Carbonfacts as an expert in transparency, impact measurement, and environmental reporting for the fashion industry – services already utilized by brands including On, Ganni, and The North Face.

Database provider ecoinvent and the French environmental agency ADEME have responded enthusiastically to the launch, bolstering ongoing discussions on how granular production data can better feed into future European methodology standards and mechanisms like the French environmental score or PEFCR.

Textile-to-textile materials regeneration company Reju announced today the opening of its first research and development (R&D) centre in North America. Its establishment means the company is a step closer to building a closed-loop recycling ecosystem that converts discarded fabric and textiles into quality products.

The new facility is located in former mill town and manufacturing centre Conshohocken, Pennsylvania, just north of Philadelphia. The lab is situated within the existing research centre for advanced materials and catalysts of parent company Technip Energies so that Reju can benefit from direct access to decades of Technip Energies’ expertise in catalysis, process development, technology integration and industrial scale-up. In addition, the new R&D centre will help Reju accelerate the deployment of its recycling technologies and next-generation circular solutions.

Building a closed-loop recycling ecosystem

Reju's core research team from IBM’s Almaden Research Center in San Jose, California, will relocate to the new R&D center. At the former, Reju first developed its Volcat depolymerization technology, a catalytic chemical recycling method breaking down polyester into reusable raw materials.

“I am excited to be joining such an innovative company and to be part of the team moving the technology towards industrialisation and supporting the infrastructure for true post-consumer textile-to-textile recycling at scale,” comments Gregory Breyta, director of research & development at Reju, in a press release.

Moving from mere polyester recycling, the new facility will be focused on the full development spectrum from early-stage feasibility through to kilo-scale production. This includes mixed-fabric solutions and new circular chemistry pathways. The aim is to enable rapid iteration and to accelerate Reju's path from concept to industrial reality.

Most importantly, the new R&D centre will support the development and validation of technologies intended for deployment across Reju's future regeneration hubs. Currently, there is Hub Zero in Frankfurt, Germany, which is up and running, Hub One planned in Sittard, Netherlands, another one in Lacq, France, and the first North American one in Rochester, New York.

British retail conglomerate Frasers Group has agreed to sell 100 percent of its interest in Sports Direct Malaysia to strategic partner MAP Active (PT MAP Aktif Adiperkasa Tbk) for 150 million US dollars.

Following the sale, Frasers will enter into a long-term deal under which MAP Active will “further grow and develop Sports Direct in Malaysia, with a continuing income stream payable to Frasers Group”.

In a statement, the British retail group said the move builds on its existing partnership with MAP Active across Indonesia, Philippines, Thailand, Vietnam and Cambodia, and complements its Southeast Asian market strategy “to unlock efficiencies and streamline operations in the region”.

Michael Murray, chief executive of Frasers Group, said: “MAP Active is a valued strategic partner, and this transaction further deepens our relationship as we accelerate Sports Direct’s growth across Southeast Asia.

“Together, we are creating a strong platform to deliver our ambitious growth plans. I look forward to continuing to work with the MAP Active team to unlock further value.”

MAP Active’s established infrastructure, local expertise and portfolio of distributed brands “will further accelerate the growth of Sports Direct in the region,” supporting the shared ambition to open more than 350 stores long term.

V.P. Sharma, group chief executive of PT Mitra Adiperkasa Tbk, added: “We are delighted to be strengthening our relationships with Frasers Group through this transaction. Leveraging on our local expertise and regional retail network, we look forward to offering more of Sports Direct's world-class offerings to our customers across the region, and unlocking new opportunities that create long-term value for both companies.”