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Business

Burberry posts Q4 comparable sales growth driven by Asia Pacific and Americas

Burberry’s retail sales declined 9 percent at both CER and reported exchange rates, while wholesale declined 17 percent at CER and reported exchange rates in the year with a good recovery in the second half. In total, the group saw revenue down 10 percent at CER and 11 percent at reported exchange rates to 2,344 million pounds. Comparable store...

4 hours ago

Business

Hearst sells Marie Claire US to Future Media

Marie Claire Magazine US has been acquired by London-based Future Media, Plc. Up until now, the publishing rights for the online and print edition of Marie Claire US were divided between Marie Claire Group International and international publishing group Hearst Magazines, via a joint venture. Future Media will now own 100 percent of the joint...

20 hours ago

Business

University of Applied Sciences BSP Berlin: Study fashion in a splendid ambience

The BSP Business School Berlin is a state-recognized, private university for management. But in addition to the many management subjects, the university also offers a variety of courses for those interested in fashion - such as fashion marketing or sustainable fashion. The BSP is located in the south of the German capital and stands out above...

22 hours ago

Business

Global Fashion Group Q1 revenue up 11 percent

Online fashion retailer Global Fashion Group has reported an 11 percent increase in revenue in Q1. The company, which operates e-commerce platforms The Iconic, Zalora, Dafiti and Lamoda, saw revenue increase to 301.3 million euros in the quarter compared to 271.4 million euros in the prior-year period. Net merchandise value grew 37.8 percent,...

1 day ago

Business

After strong Q1, Wolverine Worldwide raises full year outlook

Wolverine World Wide, Inc. said reported revenue was 510.7 million dollars, up 16.3 percent versus the prior year, while on a constant currency basis, revenue was up 14.3 percent versus the prior year. The company’s owned ecommerce reported revenue grew 83.6 percent versus the prior year. For the full 2021, the company now expects revenue in the...

1 day ago

Business

Strong online sales at Aritzia soften Covid impact

A surge in online sales at Canadian womenswear brand Aritzia almost completely offset revenue lost through its closed stores in the fourth quarter of the year. For the three months ended February 28, net revenue dropped 2.9 percent to 267.5 million Canadian dollars, driven by a 57 million dollar drop in retail revenue linked to closed stores,...

May 12, 2021

Business

Wardrobe Crisis Academy launches online sustainable fashion course

Wardrobe Crisis Academy is launching a six-week introductory online course designed to “shake up” sustainable fashion education. The sustainable fashion platform states it is targeting broader sustainable fashion education with its online course, describes as “accessible” and “engaging” to offer a foundational knowledge of the issues driving...

May 12, 2021

Business

Forever 21 looking to grow in Brazil with Dafiti

Authentic Brands Group has announced a strategic partnership with Dafiti to grow its Forever 21 brand in Brazil through a digital-first retail strategy. Dafiti, the leading e-commerce company in Brazil specialising in retail development and brand building, will launch an all-new Forever 21 online destination and create an exclusive branded...

May 12, 2021

Business

Vinted raises 250 million euros in funding

Second-hand fashion marketplace Vinted has raised 250 million pounds in a series F funding round led by investment firm EQT Growth. This latest funding values the Lithuania-headquartered company at 3.5 billion euros, up from the 1.1 billion euro valuation it was given following its last fundraising in November 2019. Vinted CEO Thomas Plantenga...

May 12, 2021

Business

Safilo's Q1 sales improve 20 percent

In the first quarter of 2021, Safilo posted total net sales of 251.4 million euros, up 20 percent at constant exchange and 13.7 percent at current exchange rates. The company said that the positive sales performance reflected the strong recovery recorded by the group across the brands portfolio, from the strong growth of its own brands Smith and...

May 12, 2021

Business

Gap declares Q2 dividend

Gap’s board of directors has authorized a second quarter dividend of 12 cents per share, payable on or after July 28, 2021 to shareholders of record at the close of business on July 7, 2021. Additionally, Gap Inc. announced the resumption of its share repurchase program, which has 800 million dollars of its 1 billion dollars authorization...

May 12, 2021

Business

L Brands to separate Victoria's Secret business from Bath & Body Works

L Brands, Inc. has announced that its board of directors has unanimously approved a plan to separate the company into two independent, public companies: Bath & Body Works and Victoria’s Secret, including Victoria’s Secret Lingerie, Pink and Victoria’s Secret Beauty. “In the last ten months, we have made significant progress in the turnaround of...

May 11, 2021