Latest Articles in Business

Coupang closes Ngg++

There is no good news for New Guards Group (NGG), the Milan-based company located in Via Turati, which manages Farfetch's fashion activities. As reported by Mff, the company will soon lose a new element, following the sale of the Palm Angels, Off-White, Alanui and Ambush brands. On April 30, Ngg++, the division created in 2023 to manage the...

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Rent the Runway narrows losses as FY24 revenue picks up pace

Rental platform Rent the Runway (RTR) has reported narrowing losses for the fiscal year 2024, after results for the fourth quarter continued the positive trajectory seen over much of the period. During the year as a whole, revenue was up 2.7 percent year-over-year reaching 306.2 million dollars, while net losses narrowed from 113.2 million...

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JD.com commits to supporting Chinese exporters amid tariff uncertainty

E-commerce giant JD.com is set to launch a 200 billion yuan (20.57 billion pounds) fund to help support Chinese exporters as uncertainty over tariffs continues to weigh on the market. In a statement to Reuters, the Chinese firm said it would send its own employees to domestic companies associated with foreign trade to purchase their “...

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‘Fear of regulation’: New BFC-backed report underlines obstacles in development of circular business models

As increasing regulation unfolds in the pursuit of establishing a more circular industry, obstacles and challenges faced by UK brands in their attempts to align with these changes are becoming more and more clear. It is exactly this that is explored in a new report by UK-US consultancy firm Clarasys, backed by the British Fashion Council’s (BFC)...

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Passenger to pause US activity to focus on EU following tariffs

British outdoor brand Passenger Clothing, which was named one of the UK’s fastest-growing private companies in 2023, will be pausing its US growth initiatives following the recent tariffs from the US administration. In a statement, Passenger said in the wake of the US tariffs, it would be turning its attention to its “fast-growing" EU business...

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TikTok forms SME Council in UK to help shape local policies

Video-based social media platform TikTok has announced the launch of its first council for small-to-medium businesses in the UK, as it looks to establish a means to amplify entrepreneurs’ voices to local policymakers. The SME Council is made up of 20 small businesses that are using TikTok as a platform to reach new customers and sell their...

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Matches debt surges beyond estimates to 50 million pounds

Just over a year on from its administration, challenges triggered by Matches’ collapse continue to unravel. According to new documents filed by the company’s administrators, creditors of the former luxury e-tailer are now said to be owed around 49.5 million pounds, surpassing previously cited estimates. In the documents provided by administrator...

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Established Incorporated and ACI Licensing form joint venture to acquire four brands

Brand licensing firm Established Incorporated has established a strategic joint venture with ACI Licensing to acquire and manage four lifestyle brands; Badgley Mischka, C&C California, Kay Unger and Rachel Rachel Roy. As part of the deal, Established will own a controlling 51 percent ownership stake in the group, while ACI will retain 49...

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Frasers Group to launch Sports Direct in ANZ region with Accent Group

Frasers Group has secured a 25-year strategic retail agreement with Accent Group that will see its sportswear retailer, Sports Direct, launch across Australia and New Zealand. The company said it is planning to open 100 stores in the region, with further opportunities among other retail and business segments to be potentially explored in the...

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Christian Dior quarterly revenue down amid ‘disrupted geopolitical’ environment

Luxury group Christian Dior posted a revenue of 20.3 billion euros for the first quarter of 2025, a slight decline on the same period of the year prior as the “disrupted geopolitical and economic environment” continued to take effect. Overall group revenue dropped 2 percent on the 20.69 billion euros recorded in the first quarter of 2024, with...

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EU Postpones retaliatory tariffs on US products until mid-July

In the trade dispute with the US, the EU suspended the application of planned special tariffs on US products until July 14. With the corresponding publication in the EU Official Journal, the EU is implementing an announcement by European Commission President Ursula von der Leyen. She announced last week that the measure, which was originally...

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LVMH sales dip as Trump tariffs dent luxury tastes

Paris - Luxury giant LVMH saw sales fall two percent to 20.3 billion euros (23 billion dollars) in the first quarter of 2025 as US President Donald Trump's tariffs shook the global economy, the company said on Monday. The producer of Louis Vuitton bags and Dom Perignon champagne, owned by Europe's richest man Bernard Arnault, generates a quarter...