Payment service provider Klarna has announced the 100 small and medium-sized enterprise (SME) winners of its inaugural three million pound Small Business Support Package. Launched back in July, the firm established the package as part of its ongoing commitment to support SMEs throughout the UK. A total of 1,135 businesses applied for the fund,...
24 minutes ago
JD Sports has snapped up an 80 percent stake in Greek retailer Cosmos Sport for an undisclosed sum in what is the latest in a string of acquisitions by the British sportswear giant. Cosmos is based in Crete and operates 57 stores across Greece and three in Cyprus under a variety of retail banners and associated trading websites. The principal...
1 hour ago
Apparel retailer Gap has launched an outlet category on its UK and EU e-commerce sites, offering discounted Gap goods across a number of categories. Womenswear, menswear, kidswear, toddler and baby collections will be available through the dedicated division on its sites, with outlet prices. Items are displayed next to the phrase: ‘Everyday...
Partners Group Holding AG is in talks to acquire a 25 percent stake in luxury watchmaker Breitling from CVC Capital. The news was reported by Bloomberg. A potential deal could be announced within the coming weeks. The investment could potentially value Breitling at 3.3 billion dollars. Breitling is one of the largest Swiss watch brands in the...
15 hours ago
Generated in collaboration with Gucci, Artsthread’s Global Design Graduate Show has revealed the winners of its second edition, with the competition being open to graduating art and design students of 2020-21. A total of 5,211 students entered the initiative with their end of year projects, represented across four categories:...
21 hours ago
US footwear brand Crocs has reported record revenue and soaring profit in the third quarter of the year despite “widespread supply chain disruption”. In the three months to September 30, the company’s revenue came in at 625.9 million dollars, a 73 percent increase from a year earlier. It said growth was strong in all regions, with the Americas...
The Hermès Group’s consolidated revenue amounted to 6,602 million euros at the end of September 2021, up 57 percent at constant exchange rates and 54 percent at current exchange rates compared to the same period in 2020. This increase is 35 percent over two years. In the third quarter, the group’s consolidated revenue reached 2,367 million...
1 day ago
Big name retailers such as Inditex, Amazon and Patagonia have joined the Cargo Owners for Zero Emission Vessels (coZEV) coalition, pledging to achieve zero carbon shipping by 2040. Joining a new cargo owner led network facilitated by the Aspen Institute, a large group of companies have announced their intentions to switch all of their ocean...
PayPal, the digital payments giant, is thought to be in the late stages of acquiring Pinterest. The digital pinboard company, which allows commerce via links and clicking on images via its platform, could be sold in the vicinity of 45 billion dollars, predicted analysts. The New York Times on Thursday reported PayPal offered around 70 dollars a...
Spanx has sold a majority stake to private equity firm Blackstone in a deal that values the US shapewear brand at 1.2 billion dollars. The Atlanta, Georgia-headquartered company said the acquisition will accelerate its digital transformation, expand its global footprint, and add new categories. Spanx founder Sara Blakely will retain “a...
Pajar Canada has opened a flagship store in New York City, its first in the US. The store is located on Wooster Street, Soho. The brand, which is known for its footwear and outerwear, seeks to use the store in order to expand on its presence on the international market. With the ribbon cutting event having occurred on October 20, the store will...
Matalan has seen its profits rebound in the second quarter of the year amid an uptick in revenue, but warned that continued supply chain issues will impact its performance. In the three months to August 28, the British fashion and homeware retailer reported a 2.6 percent increase in revenue to 264.7 million pounds. For the first half of the...
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