Latest Articles in Business

LVMH invests in experiential luxury with 50m euro villa in Cannes

The world's largest luxury goods conglomerate has made a strategic move into premium real estate on the French Riviera, underscoring a broader trend of high-end brands investing in experiential marketing assets. LVMH has acquired a historic 12-bedroom villa in Cannes for 46.5 million euros, according to Bloomberg, in what represents one of the...

BusinessFeatured

Boohoo shareholders deny Frasers’ board pursuit: Is the end in sight for the boardroom battle?

Shareholders of Boohoo Group have voted against the appointment of Frasers Group founder Mike Ashley and its proposed director, Mike Lennon, to the fast fashion giant’s board of directors. The decision was made during a general meeting requisitioned by Frasers, which had carried out a campaign to gain representation amid declining sales at...

Business

The Body Shop ‘back for good’ as profits reportedly rise

The new owners of The Body Shop have said that the once flailing cosmetics retailer was “back for good” as it reportedly garnered a profit over its initial three months under new leadership. The company was bought out of administration in September by an investor consortium led by Mike Jatania’s Aurea Group, which has since been leading the...

Business

N Brown receives FCA approval to go private

N Brown has received watchdog approval in its pursuit of becoming a private company through a proposed acquisition by Bidco, a newly formed company owned and controlled by Joshua Alliance, a non-executive director of the British fashion group. The takeover has been given backing by the Financial Conduct Authority (FCA), allowing for proceedings...

Business

Strikes and blockades at Amazon sites in the US and Germany

New York - On Thursday, a strike at several US and German sites of the American online retail giant Amazon began just a few days before the end-of-year holidays, to specifically demand wage increases. The industrial action began at 11:00 GMT in the US on Thursday due to Amazon management's refusal to negotiate with the Amazon Labor Union (ALU),...

Business

Fewer stores and warm weather impact Reitman's Q3 results

Reitmans’s (RCL) third quarter net revenues decreased by 2.9 percent to 187.7 million Canadian dollars primarily due to 11 fewer stores and unfavourably warm autumn weather. Comparable sales for the quarter under review decreased by 1.9 percent. "The quarter was impacted by warmer weather delaying sales of fall apparel. However, we achieved a...

Business

After negative Q2, Nike's new CEO hints at turnaround plan

Nike’s second quarter revenues were 12.4 billion dollars, down 8 percent on a reported basis and down 9 percent on a currency-neutral basis compared to the prior year. Gross margin for the quarter decreased 100 basis points to 43.6 percent, while net income was 1.2 billion dollars, down 26 percent, and diluted earnings per share were 78 cents, a...

Business

Karen Millen signs jewellery licensing agreement with Simon Harrison

Boohoo-owned Karen Millen has secured a new jewellery licensing agreement with Simon Harrison, an established designing, manufacturing and licensing firm. The news coincides with the launch of the brand’s new spring/summer 2025 collection, which will be stocked by Debenhams, Next and Karen Millen, itself. Each piece in the collection has been...

Business

True blue tradition: how Japan's coveted jeans are made

Kojima-ajino, Japan - Call it an antidote to fast fashion: Japanese jeans hand-dyed with natural indigo and weaved on a clackety vintage loom, then sold at a premium to global denim connoisseurs. Unlike their mass-produced cousins, the tough garments crafted at the small Momotaro Jeans factory in southwest Japan are designed to be worn for...

Business

YMC co-founder reacquires brand from French Connection

The co-founder of YMC–also known as You Must Create–has acquired a majority share in the British fashion brand from French Connection, reinstating his position as the main shareholder. Jimmy Collins, who also serves as YMC’s chief executive officer, founded the brand in 1995 alongside the late Fraser Moss, and established it as a unisex apparel...

Business

John Lewis receives Royal Warrant from the King

British department store giant John Lewis has been granted a Royal Warrant of Appointment as a supplier of household goods and furnishings to His Majesty King Charles III. In a release announcing the news, executive director, Peter Ruis, said it was a “proud moment” for the company. His statement continued: “For 160 years, we’ve been focused on...

Business

Asos uses 'Test & React' model for exclusive Adidas collection

British online retailer Asos has launched a Design collection in collaboration with German sportswear giant Adidas, created using its Test & React model, which allows brands to quickly respond to trends. Traditionally, it takes an average of three to six months from the moment a collection is designed to the moment it hits the shelves. Faster...