Shein has expanded its UK marketplace capabilities through a new partnership with THG Fulfil, aimed at improving services for local brands and retailers.

The update looks to introduce a more integrated system for UK sellers using the Shein Marketplace, which launched in the region in 2024. The platform allows brands to list products and access a customer base of more than 100 million across Europe, a press release said.

Through the new partnership, sellers can now connect directly to THG Fulfil’s logistics network. Orders placed via the marketplace will be processed through THG’s system, offering features such as next-day delivery with late cut-off times, streamlined returns and end-to-end fulfilment.

Christina Fontana, senior director for brand operations EMEA at Shein, said: “By enhancing the seller experience and strengthening integrations with local partners, such as with THG Fulfil, we’ve made it easier for UK brands and retailers to scale their operations.”

According to Shein, more than 3,000 UK businesses are currently active on the marketplace platform, which has largely focused on supporting small and medium-sized brands to grow internationally while maintaining control over brand identity and product offering.

Darren Rajanah, chief revenue officer at THG Ingenuity, added: “Our technology offers sellers a distinct competitive advantage, creating a seamless process for launching on the platform and ensuring their customers receive a world-class delivery experience.

"We are excited to be named Shein's official beauty partner and look forward to supporting brands of all sizes as they scale and grow.”

The Armani Group closed 2025 with an organic decline in net sales of 2.8 percent (-4.6 percent in euros at current exchange rates), amounting to 2.19 billion euros (2.56 billion dollars), and an improvement in operating profitability (EBITDA +3 percent, EBIT +2 percent).

The company estimates over 6 billion euros in retail value of Armani products sold worldwide.

Review of Armani's financial performance

Solid balance sheet figures were confirmed: net worth of approximately two billion euros and liquidity of approximately 600 million euros. In a statement, the company, led by CEO Giuseppe Marsocci, announced that the figures align with the general trend in the sector. They amount to over four billion euros in induced turnover, including direct turnover from licensees.

Consolidated gross operating profit (EBITDA) pre-IFRS16 and before depreciation and amortisation grew by 3.2 percent from 148 to 152.7 million euros. The pre-IFRS16 operating profit stood at 52.6 million euros, a slight improvement on the 51.3 million euros in 2024.

“In 2025, a year marked not only by the company's 50th anniversary but also sadly by the passing of our founder, we continued to operate to the best of our ability within the strategic path laid out by Mr Armani. We have maintained sound management without forcing issues, as the qualitative components of our sales confirm. Our perspective is focused on the group's long-term future, not on maximising immediate profit,” emphasised Marsocci, CEO and general manager, in the note.

“Our attention, study and evaluation of the market are at their peak right now. We are facing a possible structural change in the approach to luxury and fashion by current and potential consumers, which is essential to take into account.”

Highlights of Armani's 2025 results across retail channels

Regarding individual channels, direct retail grew overall by 2 percent at constant exchange rates in 2025, while indirect channels recorded a -7 percent. This “primarily reflects the decline in wholesale orders and the reasonable caution of distribution partners in the overall market context,” the note specifies.

The 2025 trends by geographical macro-area—Europe, Asia and America—at constant exchange rates, “are very balanced with no substantial differences between them compared to the general trend, which appears to be a further element of stability,” the statement continued.

As of December 31, 2025, the Armani Group's net cash position amounted to 529 million euros, a decrease of approximately 41 million euros compared to the previous balance sheet date. Including treasury investments in the net financial position, the net cash position amounts to 596 million euros.

Consolidated net worth amounts to 1.99 billion euros

Consolidated net worth, on the other hand, amounts to 1.99 billion euros. This is a slight decrease of about 3 percent compared to the previous balance sheet date due to currency fluctuations recorded in 2025. It corresponds to 51 percent of total assets (post-IFRS16), a percentage of ‘equity’ that confirms the group's strong financial solidity.

Regarding the coming months, management expressed optimism. “Today more than ever, the identity of the company and the brand is reflected in the founding principles that Mr Armani established in his corporate testament. These values are rooted in his model of discreet and timeless beauty and elegance, as well as the idea of a solid and prudent enterprise. They are extremely current, perhaps more relevant than ever to the times we are living in,” concluded Marsocci.

Strong preliminary results from Adidas catapulted the sporting goods manufacturer's shares to the top of the leading index on Wednesday, posting significant gains.

Around midday, it rose by almost 7 percent to 147.30 euros in the slightly weaker Dax . At the start of trading, it had temporarily reached 149.25 euros, its highest level since early March.

The general outlook for Adidas, however, remains rather bleak. Looking at the start of the year, there is still a deficit of almost 13 percent. Since the downward trend began in mid-February 2025, the loss has amounted to 44 percent.

Analyst Richard Edwards from the US bank Goldman Sachs does not expect any changes to market estimates given the confirmed annual targets, but praised Adidas' surprisingly strong operating result in the first quarter. This was further supported by currency-neutral sales growth.

Piral Dadhania from the Canadian bank RBC noted, however, that revenue growth was unevenly distributed and particularly low in the footwear segment. While sales in this category increased by only 4 percent on a comparable basis, the increase in the apparel segment was around 31 percent. There, double-digit percentage growth rates in the football; running; training; motorsport; and Originals categories drove revenues.

The debate about Adidas among investors could now shift in a more constructive direction after the strong first quarter, wrote Jefferies analyst James Grzinic, who rates the stock as “Buy” with a price target of 190 euros.

He particularly highlighted the company's robustness. This is demonstrated by its growth momentum, the resilience of the gross margin despite high tariffs and currency headwinds, and its cost control.

“We may have to wait until the third quarter, however, to get a clearer, non-event-driven impression of Adidas' brand popularity,” he noted. Before then, it could become clearer to what extent the latest innovations, particularly the Hyperboost and Adizero Adios Pro Evo 3 running shoes, can mitigate the risk of the Terrace segment's advancing market maturity.

Grzinic is aware that sceptics could, however, attribute part of the strong business performance to temporary sales effects due to this year's upcoming World Cup. Furthermore, the further build-up of inventories is also likely to be scrutinised, although he believes that supply chain uncertainties justify the early procurement of products.

Ponda, a British biomaterials company known for its insulation material BioPuff, is set to initiate a new crowdfunding campaign to help “broaden the ownership of regenerative fashion innovation”.

Its launch comes as the Bristol-based firm looks to move beyond early traction towards broader commercial supply, with the funding intended to support manufacturing scale-up, operational build-out and go-to-market execution.

Speaking on this mission, Ponda co-founder and CEO, Julian Ellis-Brown, said that throughout the industry it is becoming increasingly necessary to test the scalability of sustainable materials in regards to production and supply chain application.

Ponda’s BioPuff product is designed to address this need. The insulation is made from bulrush (or Typha), a wetland plant cultivated through paludiculture, a regenerative farming practice utilising rewetted peatlands and other wet landscapes.

Its creation looks to contribute to both wetland restoration, particularly degraded wet landscapes, and alternative material solutions that can replace fossil-based and animal-derived materials.

Ponda’s methods also tackle concerns over emissions released by drained wetlands, which despite only covering 3 percent of the world’s land surface, store more carbon than all the world’s forests combined, the company said.

When drained, these areas release 1.9 gigatonnes of CO2 a year, almost double fashion’s total emissions, prompting solutions to return them to use.

BioPuff is therefore being developed as a commercially viable alternative, and has already been applied by brands like Stella McCartney, Ahluwalia, and Berghaus, while recognised partners include H&M Foundation and Parley for the Oceans.

Ponda’s current total funding stands at 6.6 million dollars, with its latest seed round, closed in November, drawing in 2.4 million dollars, with Faber and Counteract co-leading the round.

While Ellis-Brown said these partners have indeed helped validate the wider relevance of Ponda, the company is now moving into its next stage of growth, in which there is an “opportunity to prove that regenerative material systems can be commercially viable, operationally credible and genuinely useful for brands”.

Madrid – Without having previously announced the exact timing for the release of its new fiscal year results, Puig finally reported its performance for the first quarter of 2026 on Tuesday, after the markets closed. For the three-month period ending March 31, the company's results were significantly impacted by exchange rates.

According to information submitted by the company to the National Securities Market Commission (CNMV), Puig closed the first quarter of 2026 with net sales totalling 1.22 billion euros (1.43 billion dollars). This figure represents a growth of just +0.78 percent compared to the 1.21 billion euros reported in the same period last year. In the first quarter of 2025, the company had recorded year-over-year growth of +7.8 percent.

To provide more context on the company's stagnant revenue, Puig's management estimates that exchange rates had a 4 percent impact on its accounts during the period. They explained that without this effect, like-for-like sales and at constant exchange rates would have grown by +4.7 percent. This is significantly higher than the reported +0.78 percent, although still below the +7.5 percent LFL growth at constant exchange rates recorded in the first quarter of 2025.

“Once again, Puig has delivered a solid first quarter, outperforming the premium beauty market, as we have done in each of the last five years, including the last eight quarters as a publicly traded company,” stated Jose Manuel Albesa, following the release of the company's first results since he became CEO of Puig last March. “Our results are particularly significant, considering the challenging comparative basis we faced in our largest business segment by volume, Fragrances and Fashion,” he continued. Albesa also emphasised that “all regions contributed to like-for-like growth at constant exchange rates, with particularly strong momentum in Asia-Pacific.” He added, “leading Puig in this new chapter is an opportunity I embrace with great pride and a sense of responsibility.”

Generalised growth by segment, and a decline in turnover in Americas

Breaking down the company's performance during the first quarter in reported terms, all business areas achieved positive results despite the impact of currency fluctuations. This particularly affected the 'Fragrances and Fashion' division, where revenue remained almost flat at 897.2 million euros (+0.08 percent). Following this segment, in descending order of turnover, were 'Make-up' with sales of 170.8 million euros (+3.32 percent), and 'Skincare' with 147.3 million euros (+2.15 percent).

Meanwhile, by region, EMEA remains the company's main source of revenue, with quarterly sales reaching 655.9 million euros (+1.88 percent). The Americas followed, where sales contracted to 428.3 million euros (-5 percent) due to exchange rates. Lastly, sales in Asia-Pacific increased to 131 million euros (+17.91 percent).

Regarding this, “all regions contributed to like-for-like growth at constant exchange rates, with particularly strong momentum in Asia-Pacific,” noted Albesa. “The region represents more than one-third of the global beauty market, yet it currently accounts for only 11 percent of Puig's sales.” He added, “we have been investing for several years to close this gap and, supported by strong double-digit growth in recent quarters, we believe now is the right time to accelerate.”

Outlook for 2026 (and update on negotiations with Estée Lauder)

For the remainder of the year, Puig confirms its forecast of maintaining solid sales growth on a like-for-like basis and at constant exchange rates. The company also expects an adjusted EBITDA margin in line with the 20.7 percent recorded in 2025, despite rising costs. These projections aim to demonstrate the strength of its business model while negotiations for a potential integration, sale, or merger with The Estée Lauder Companies continue. As a final update, it was clarified that no agreement has yet been reached.

“On March 23, 2026, Puig confirmed it is in discussions regarding a potential business combination with The Estée Lauder Companies Inc., which would involve a possible merger of the two companies' businesses,” the Spanish company explained. However, they cautioned that as of “April 28, 2026, no definitive decision has been made,” reiterating that “until an agreement is reached, there can be no guarantee that a transaction will occur or on what terms.”

The news may seem modest on the scale of global technology investments. However, it acts as a weak signal with high potential for the entire fashion sector.

By injecting 34 million dollars through the Bezos Earth Fund (BEF), the Amazon founder is not only seeking to improve his green credentials but also to secure a dominant position in materials that will comprise 15 percent of the global market by 2032. For Jeff Bezos, the real issue seems to be that whoever controls the fibre of tomorrow will control the supply chain of an industry in the midst of reconstruction.

As Eva Morletto's analysis for Luxury Tribune highlights, this funding targets the core of the problem. Materials and their manufacturing account for 80 percent of fashion's environmental footprint. Behind the ecological urgency, however, lies a battle for intellectual property and industrial sovereignty. The foundation's official press release, published on April 24, 2026, details an allocation of funds to academic centres of excellence. This marks a clear intention to accelerate the industrialisation of alternatives to petroleum.

Material science in service of scaling up

The BEF's ambition is to move innovative textiles from laboratories to production lines within three to five years. A sum of 11.5 million dollars has been allocated to Columbia University, in partnership with the Fashion Institute of Technology (FIT), to develop biodegradable fibres created by bacteria fed on agricultural waste. In parallel, the University of Berkeley is receiving 10 million dollars, alongside Stanford and Caltech, to develop a spider silk-inspired fibre produced without any fossil fuels.

The natural materials sector is also included, with Clemson University and the University of Georgia receiving 11 million dollars to perfect a genetically optimised cotton. This cotton is capable of growing directly in colour while drastically reducing its water consumption. Finally, the preservation of textile biodiversity is ensured by 1.5 million dollars in funding to the Cotton Foundation to secure non-GMO seed banks.

What is Jeff Bezos' interest?

Why is the e-commerce leader interested in the molecular structure of a thread? The answer lies in the convergence of sustainability and smart textiles. Mastering the design of bio-based fibres opens the door to integrating digital sensors directly into the fabric's weave. The expanding smart textiles market points towards garments that can regulate temperature or monitor health data, effectively becoming additional digital devices for the Amazon ecosystem.

Barometer of textile transformation

This announcement acts as a barometer for the entire sector for several fundamental reasons. Firstly, it anticipates upcoming regulatory hurdles. With less than 1 percent of textiles currently recycled, the industry must invent materials that are inherently circular. Secondly, it underscores the changing perception of value in luxury. A brand's desirability no longer depends solely on design but also on a scientifically proven material ethic.

Finally, this move confirms the textile industry's shift towards advanced technology. According to Fortune Business Insights, the sustainable fashion market could exceed 20 billion dollars by 2032. By injecting capital into academic research, Bezos is establishing science as the new arbiter of transparency and performance. This transition from laboratory research to mass production signals the textile industry's entry into the era of bioproduction. In this new era, value will not necessarily reside in the cut of a garment, but in the intellectual property of the fibre itself.

Sportswear manufacturer Adidas performed better than expected in the first quarter, confirming its outlook. Revenue rose by over 7 percent to approximately 6.6 billion euros (7.72 billion dollars), the company announced on Wednesday in Herzogenaurach. On a currency-neutral basis, Adidas achieved 14 percent growth.

The company registered strong demand, particularly in its own sales channels. In contrast, growth in the wholesale sector was weaker. Adidas stated it is not currently selling “excessive quantities” to its partners to keep price reductions under control, as the retail sector is increasingly relying on discounts due to the uncertain consumer environment.

Operating profit increased by 15.5 percent to 705 million euros, despite headwinds from currency effects and tariffs. Analysts had anticipated lower figures for both revenue and operating profit. Profit attributable to shareholders improved by 12.6 percent to 482 million euros.

Swedish sports fashion brand Björn Borg has reported the strongest first quarter in the history of the company, with record levels achieved for both net sales and operating profit. The group saw continued momentum in its sports apparel category, marking 15 consecutive quarters of double-digit growth for the division.

Strong financial performance across group operations

For the period from January 1 to March 31, 2026, group net sales increased by 7.3 percent to 300.6 million kronor (32.40 million dollars), up from 280 million kronor in the previous year. On a currency-neutral basis, the increase in net sales was 10.9 percent.

Operating profit experienced a significant uplift, rising 37 percent to 46.9 million kronor compared to 34.2 million kronor in 2025. The gross profit margin improved to 54 percent from 49.9 percent, a development attributed to earlier deliveries in underwear and sports apparel which provided more time for sell-through on the shop floor. Profit after tax amounted to 36.9 million kronor, while earnings per share before and after dilution reached 1.47 kronor.

Performance by product category and channel

The underwear category, which remains the largest product area for the group, grew by 15 percent to 140.3 million kronor. Sports apparel also continued its positive trajectory with a 12 percent increase, reaching 90.4 million kronor. However, the group faced challenges in other areas: Footwear sales decreased by 20 percent to 35.4 million kronor. Bags fell by 19 percent to 11.7 million kronor. Other products, including swimwear and socks, rose by 14 percent.

In terms of sales channels, the wholesale business remains the largest contributor, growing 11 percent to 233.6 million kronor. Within this channel, e-tailers showed particularly strong growth of 20 percent. Direct-to-consumer (D2C) results were mixed; while own e-commerce grew by 2 percent to 52.5 million kronor, sales in own stores decreased by 29 percent to 13.1 million kronor. The group noted that the decline in physical store sales was largely due to the strategic closure of two unprofitable locations. For comparable stores, the decrease was 8 percent.

Regional growth led by Germany and Denmark

Geographically, the Swedish market grew by 3 percent to 104.6 million kronor, primarily supported by own e-commerce. Germany, which Björn Borg has identified as a strategic growth market, delivered a robust performance with a 38 percent increase in sales. Finland and Denmark also reported strong results, with increases of 27 percent and 67 percent respectively.

Conversely, the Netherlands and Belgium saw sales contract by 9 percent and 14 percent.

Björn Borg chief executive officer Henrik Bunge confirmed that the group will maintain its strategic direction for 2026, focusing on profitable growth in sports apparel, footwear, e-commerce, and the German market. Bunge acknowledged that footwear and own e-commerce are currently performing somewhat below internal plans, with action plans in place to address these areas.

“Never before have we generated higher sales or delivered a stronger result in a first quarter,” stated Bunge. “Growth in sports apparel continues, and with this quarter the category has now delivered 15 consecutive quarters of double-digit growth”.

The board of directors has proposed a dividend of 3.00 kronor per share for the financial year 2025, representing 82 percent of profit after tax. The annual general meeting is scheduled for May 19, 2026.

Taiwanese technology provider Perfect Corp, which specializes in artificial intelligence (AI) and augmented reality (AR) solutions for the fashion and beauty sectors, has released its financial results for the first quarter ended March 31, 2026. The company reported a 12 percent increase in total revenue, reaching 17.9 million dollars compared to 16 million dollars in the same period of 2025.

The growth was primarily attributed to the performance of mobile app and web subscriptions within its business-to-consumer (B2C) segment. Additionally, the company saw a rise in virtual points revenue, which is generated by users purchasing digital credits for AI-powered services on its YouCam platforms.

Profitability and operational efficiency

Gross profit for the quarter rose by 17.8 percent to 14.7 million dollars. The company achieved a gross margin of 81.9 percent, up from 77.9 percent in the prior year. This improvement in margin was driven by increased operational efficiency as the group transitioned from customized software projects toward standardized AI and application programming interface (API) solutions.

Operating income reached 1.5 million dollars, a significant recovery from the operating loss of 0.2 million dollars recorded in the first quarter of 2025. Net income also saw a modest increase of 2.6 percent, totaling 2.4 million dollars.

Perfect founder, chairwoman, and chief executive officer, Alice H. Chang, stated: “Perfect Corp continues to focus on advancing its consumer B2C and enterprise B2B businesses through AI-driven innovation. We are seeing continued demand for Generative AI and Agentic AI solutions and intend to continue to focus toward developing products and services in this area.”

Subscription and licensing performance

Revenue from AI and AR cloud solutions and subscriptions grew by 9.8 percent to 15.5 million dollars. This sector remains the primary driver for the group, supported by consumer interest in generative AI and photo editing features. Conversely, licensing revenue declined by 5.4 percent to 1.5 million dollars. The company indicated that this legacy, non-recurring revenue stream will become increasingly immaterial as it prioritizes software-as-a-service (SaaS) subscription models for brands.

Strategic developments and liquidity

Perfect maintained a strong liquidity position with cash and cash equivalents totaling 120.6 million dollars. When including time deposits and US Treasuries, the total financial assets reached 176.4 million dollars. Operating cash flow remained stable at 4.2 million dollars.

The quarterly report follows recent corporate developments regarding a preliminary non-binding ‘Going Private’ proposal received on March 18, 2026. The board of directors formed a special committee on March 23, 2026, to evaluate the proposal, and subsequently appointed financial advisors and legal counsel on April 20, 2026, to assist in the review process.

US footwear manufacturer Rocky Brands has reported its financial results for the first quarter (Q1) ended April 29, 2026. The group saw net sales increase 9.1 percent to 124.4 million dollars compared to the year-ago quarter, driven by strong performance in its retail and contract manufacturing segments.

Despite the top-line growth, profitability was impacted by significant sourcing variances. Gross margin decreased 470 basis points to 36.5 percent of net sales, down from 41.2 percent in the prior year. This decline was primarily attributed to an increase in tariff-related costs, which amounted to approximately 7.1 million dollars during the period.

Segment performance and retail expansion

The retail segment emerged as a primary growth driver, with net sales increasing 16.5 percent to 42.7 million dollars. This was bolstered by robust demand across the brand portfolio’s e-commerce platforms. The wholesale segment also grew, rising 4.8 percent to 78.4 million dollars, while contract manufacturing saw a 25 percent increase to 3.3 million dollars.

Rocky Brands chairman, president and chief executive officer, Jason Brooks, noted that the momentum from the previous year has continued into the current fiscal period. Brooks highlighted the performance of the Xtratuf and Muck brands across multiple selling channels as a key factor in the Q1 results.

Impact of tariffs on operating income

Income from operations fell 58.2 percent to 3.6 million dollars, compared to 8.7 million dollars in the year-ago period. On an adjusted basis, income from operations was 4.3 million dollars. These figures reflect the weight of the aforementioned 7.1 million dollars in additional tariffs, which the company has attempted to mitigate through price increases and diversified sourcing.

Net income for the quarter was 1.3 million dollars, or 0.17 dollars per diluted share, representing a 74.5 percent decrease from the 4.9 million dollars reported in the first quarter of 2025. Adjusted net income stood at 1.8 million dollars.

Children's wear retailer The Children's Place has entered into a new strategic partnership with Al Othaim Life Company to re-enter the Saudi Arabian market, with initial store openings planned for later this year, including a flagship store in Riyadh.

The partnership represents a significant milestone in The Children's Place's broader international growth strategy, with Al Othaim serving as the retailer's official operating partner in the Kingdom of Saudi Arabia. As such, Al Othaim has been tasked with overseeing the North America specialty retailer's expansion and presence in the region. 

"We are thrilled to partner with Al Othaim as we re-enter the Kingdom of Saudi Arabia," said Muhammad Umair, President and Chief Executive Officer of The Children's Place, in a statement. "This agreement reflects our confidence in the market and our excitement about reconnecting with customers throughout the country. Al Othaim's deep local expertise and strong retail presence make them an ideal partner for this next chapter."

The Children's Place eyes Saudi growth as US business faces pressure

“We are proud to partner with The Children's Place to build something truly special in Saudi Arabia—bringing a globally recognized children's brand closer to Saudi families and delivering an exceptional, accessible, and inspiring retail experience," said Eli Aoun, Chief Executive Officer of Al Othaim, in a statement. "The Children's Place holds strong relevance in the Saudi market, with significant potential to serve the evolving needs of our customers across all regions and cities in the Kingdom." 

The international expansion push comes 14 years after The Children's Place first launched in Saudi Arabia via franchise deals. The partnership is in line with the retailer's current international business model, which sees it operate across 12 countries through nine franchise and wholesale partners outside the United States.

The re-entry is also linked to the specialty retailer's broader connection to Saudi Arabia. In February 2024, Mithaq Capital SPC, an investment firm linked to the Al-Rajhi family, one of Saudi Arabia's wealthiest dynasties, acquired a controlling 54 percent stake in the children's retailer. The firm injected over 168 million US dollars in loans into the business to keep it afloat. However, despite the capital injection, net sales declined 12.8 percent to 1.209 billion US dollars for FY2025.

With a Saudi majority stakeholder now firmly at the helm of the retailer, The Children's Place's re-entry into the Saudi Arabian market comes at a pivotal time. The retailer retains brand recognition among Saudi consumers from its 2012 launch, while Al Othaim, which operates 27 brands across more than 370 stores in the Kingdom of Saudi Arabia, will offer the local infrastructure and expertise needed to execute the rollout effectively.

The timing of The Children's Place's return to Saudi Arabia also reflects the broader pressures the retailer faces in its home country. Declining mall traffic, the rise of fast-fashion rivals like Shein and Temu, and intensifying competition from big-box retailers have eroded its US business. International expansion through a franchise-style partnership model, which limits the retailer's direct capital exposure, offers a relatively low-risk way to generate new revenue streams while the domestic turnaround continues.

In a keynote session at the World Retail Congress in Berlin, Clare Waight Keller, creative director of Uniqlo, outlined how the Japanese retail giant is balancing rapid global expansion with a rigorous, technology-driven approach to product development. Waight Keller, who previously held creative leadership roles at Givenchy, Chloé, and Pringle of Scotland, emphasised that her move to the mass-market sector was driven by an admiration for the ‘elegant, simple, precise and focused’ philosophy of Japanese design.

The appointment of Waight Keller as the first-ever officially announced creative director for Uniqlo marks a significant shift for the founder-led organisation. She noted that while luxury design often focuses on an ideology of a single body type through sample-size fitting, Uniqlo has adopted a democratic approach. This includes a ‘global fitting’ process where collections are refined across every size from double extra small to triple extra large to ensure the product maintains its integrity in the real world.

Scientific rigour in fabric innovation

A core pillar of Uniqlo’s roadmap to 2030 is its focus on technical superiority. Waight Keller revealed that the company works on a two-year lead time for fabric development, collaborating with scientists at specialised Japanese mills. This long-term horizon allows the retailer to move beyond standard silks and cashmeres into high-performance textiles that define its ‘LifeWear’ category.

"I’m working really with technologists," Waight Keller stated, highlighting the shift from purely aesthetic design to a multidisciplinary approach that merges science with style. This focus on innovation is a primary driver behind the company’s strong financial performance; recent data indicates half-year revenue growth of nearly 15 percent, with net profit increasing by 20 percent. The company is currently on track to become a 25 billion dollar entity under the singular vision of its founder, Tadashi Yanai.

Balancing heritage with evolving consumer motivations

Addressing the theme of ‘Winning Customers Today’, Waight Keller discussed the importance of the disciplined capsule collection model. By maintaining a highly edited assortment—often limited to approximately 30 to 38 key pieces—the brand remains focused on current consumer relevance. This strategy prevents the ‘frantic’ pace often associated with high-fashion runways, prioritising precision and commercial viability over trend-chasing.

Waight Keller also noted that the methodology behind Uniqlo C and its menswear expansions relies on a process of constant refinement. By understanding the nuances of everyday life—derived from her time living in Paris and London—she translates high-end design sensibilities into the Uniqlo framework. This ensures that the products are not only aesthetically pleasing but also functional for a global customer base.

European impact and sustainability

As European retail faces stricter sustainability legislation, including the upcoming implementation of Digital Product Passports, Uniqlo’s focus on longevity and fabric quality aligns with the shift toward circularity. The retailer’s ability to scale high-quality manufacturing through industrial efficiency provides a blueprint for how global brands can meet European expectations for transparency and durability.

Waight Keller’s background in European luxury houses provides her with a unique lens to navigate these expectations, ensuring that Uniqlo’s precision-led model meets the sophisticated demands of the Berlin and broader German markets. The conversation concluded with an emphasis on the ‘North Star’ of Japanese aesthetic—simplicity and focus—as the ultimate tool for securing a retailer's future in a volatile global market.

This article was written using artificial intelligence.

Global retailers are becoming more cautious in their approach to growth strategies amid intensifying economic and geopolitical pressures, according to new research from World Retail Congress (WRC), Incisiv and Manhattan Associates.

The study, released at this year’s WRC, which kicked off yesterday in Berlin and will run until April 29, found that fewer than one in six retail executives are currently pursuing aggressive expansion, with most shifting focus towards cost control, operational efficiency and selective growth.

‘The certainty is gone…’

The research, based on 336 global C-Suite executives, highlights a major shift in priorities, particularly as factors driving current market volatility become permanent disruptors rather than short-term. “The certainty is gone,” the report states.

Of the CXOs surveyed, only 52 percent said they were selectively expanding, while just 35 percent said they were in “full defense mode”. External pressures, like geopolitical instability and trade disruption were cited by over three-quarters of respondents as key in shaping strategy, while 72 percent said inflation and margin pressure were causing structural constraints.

In a statement, Ian McGarrigle, chair of WRC, said: “The operating environment for retail has fundamentally changed. Geopolitical instability and inflationary pressures are now the norm, shaping the day-to-day reality for businesses across every market. Retailers are having to rethink how they grow, where they invest and how quickly they can respond.”

Persistent execution gaps challenge targeted investments

Investment is still present, yet companies are becoming more targeted, focusing largely on customer experience and personalisation (72 percent), AI and advanced technology (58 percent), and supply chain capabilities (56 percent). Despite this, a notable seven in 10 executives stated they could not move between decisions to execution as swiftly as competitors due to, in a large part, a persistent execution gap.

In regards to AI, CXOs expressed both concern and opportunities. A substantial 98 percent of executives were concerned that AI-powered search would reduce brand visibility. “AI is beginning to intermediate that moment before a consumer reaches any brand’s owned touchpoint,” the report notes, underlining the importance of product data, content quality, and digital presence.

Execution of AI remains limited, despite a strong belief in the technology. While 91 percent of CXOs expect AI to be “table stakes by 2030”, only 29 percent have the foundations of the data and technology in place. The report identifies this gap as one of the most important risks. “The organisations moving fastest in this environment are not the ones with the most sophisticated AI models or the most ambitious transformation roadmaps. They are the ones with the operational infrastructure to act on what AI tells them.”

Stores to become ‘anchor’ of commerce in 2030

Elsewhere, in physical retail, roles are evolving. Stores were still seen as essential in building customer relationships among 86 percent of executives, while 81 percent see them as the “anchor” of commerce in 2030. Stores themselves are moving into hubs for fulfillment, digital engagement, and brand experience.

Speaking on the data, Katie Foote, SVP and CMO of Manhattan Associates, said: “As customer expectations rise, personalisation is no longer a nice-to-have. Shoppers expect retailers to know them, anticipate their needs and deliver seamlessly across every channel. That only happens when retailers can apply AI to real-time inventory, order and fulfilment data.

“Unified commerce is what brings those pieces together, turning AI from a promise into the kind of connected experience that builds loyalty and drives profitable growth. This becomes even more important with the current macroeconomic trends and volatile global environment.”

US-based BSN Sports, a division of Varsity Brands and a marketer, manufacturer, and distributor of team sports apparel and equipment, has acquired Sports Endeavors and Lax.com. The move is designed to strengthen the position of the company in the specialized soccer and lacrosse markets while expanding its digital and distribution capabilities.

Expansion into specialized club sports

Sports Endeavors was founded in 1984 as a soccer catalog business known as Eurosport. It has since evolved into a prominent player in club soccer uniforms and e-commerce. The portfolio of the company includes brands such as Soccer.com, WorldSoccerShop, 431 Sports, Sports Promotions Group, Inaria, and Soccer Master.

Lax.com, established in 1999, serves as a primary destination for lacrosse players and coaches. The US-based firm provides uniforms, spirit wear, and equipment to programs across the country and stands as the largest e-commerce and team dealer business dedicated exclusively to lacrosse.

Strategic integration and leadership

Through these acquisitions, BSN Sports will integrate more than 800 employees into its workforce. Mike Moylan and Brendan Moylan will continue to lead Sports Endeavors, while John Arrix will remain at the helm of Lax.com. Both businesses are set to operate under their existing branding within the BSN Sports framework.

“These new partners bring unmatched knowledge and sport specialization as proven leaders in soccer and lacrosse, together with the scale, reach and technology of BSN SPORTS,” stated Varsity Brands chief executive officer, Adam Blumenfeld. Blumenfeld noted that the company remains focused on its Club Direct initiative, which launched late last year to streamline the experience for coaches and athletes.

Enhanced service for the youth sport sector

The integration aims to reduce logistical burdens for athletic programs. Arrix noted that joining BSN Sports provides the necessary reach and support to allow coaches to spend less time managing gear and more time on athlete development. Mike Moylan added that the partnership will expand access to the brands and options teams require at every level of play.

BSN Sports currently serves more than 150,000 institutional and team sports customers, including collegiate and recreational programs. The company utilizes a nationwide network of sales professionals and an omnichannel approach to distribute its products across the US.

As the 2026 legislative debate centres on implementing decrees for the law against ultra-fast fashion, a field study challenges our assumptions. The primary burden on the circular economy does not currently stem from new digital players, but from legacy brands. The saturation of recycling channels is linked to this long-established production model.

Public debate has identified a primary culprit: ultra-fast fashion, with its industrial production pace and low prices. Data collected by the National Network of Recovery and Recycling Centres for the “Stop Fast-Fashion” coalition reveals a much more complex reality inside sorting bins. Of the 33 reuse organisations studied this quarter, almost half of the garments deemed unusable come from ‘first-generation’ brands like H&M, Zara and Primark. In contrast, new online players such as Shein or Temu account for just 5 percent.

A time lag linked to consumption patterns

This disparity is primarily explained by a historical accumulation effect. Products from ultra-fast fashion are still a minority in sorting centres, mainly due to their recent emergence. Although these players have managed to position themselves in the top five best-selling brands in France in 2025, it takes an average of two to four years for a garment to be donated or discarded.

The current flow arriving at recovery centres is therefore a reflection of consumption patterns from the 2021-2023 period. With a record 4.1 billion garments introduced to the French market in 2025, according to preliminary estimates from Refashion, the sector is suffering from the accumulation of volumes produced by brick and mortar chains long before the explosion of the Asian direct-to-consumer model. For reuse organisations, the immediate operational challenge remains managing the legacy of traditional fashion, whose durability has progressively become comparable to that of the entry-level range.

A growing convergence of models

The analysis shows a convergence in practices. To remain competitive against online prices, the so-called ‘first-generation’ brands have continued to accelerate their production cycles in 2025. This decrease in the intrinsic quality of the fibres makes their second life increasingly difficult.

From a systemic point of view, the distinction established by current regulations raises questions for professionals. By focusing primarily on the criteria of rapid renewal, i.e., more than 1,000 new models per day, the legislator might be overlooking the enormous volumes generated by brick and mortar distribution. These volumes, however, constitute the bulk of textile waste collected at the beginning of 2026.

Towards extended and global responsibility

The “Stop Fast-Fashion” coalition advocates for regulatory mechanisms, like the financial penalty linked to the eco-contribution (Extended Producer Responsibility), to be applied uniformly to any brand exceeding certain annual production thresholds. This paradigm shift transfers the financial burden of a product's end-of-life from public authorities to the brands through a reinforced environmental contribution integrated into their business model.

Although 37 percent of Gen Z confirms in 2026 to have given up buying throwaway fashion, according to the 2026 Responsible Consumption Barometer, the saturation of sorting channels is a reminder. The transition to a circular textile economy continues to be hampered by the critical mass of garments already in circulation. These garments come from a model with much deeper roots than the arrival of the internet giants.

Madrid – In a somewhat surprising move, Puig announced late on Monday evening the resignation of Josep Oliu, chairman of Banco Sabadell, from his position as a director on the company's board, which is chaired by Marc Puig. This news was framed within the announcement of Puig's upcoming Annual General Meeting, now scheduled for May 29. The company provided further details early on Tuesday, April 28.

Following the course of events, at around 8:00pm on Monday, April 27, Puig informed the National Securities Market Commission (CNMV) of its Board of Directors' decision to convene the company's next Annual General Meeting for Friday, May 29, 2026. The meeting is scheduled for 12:00pm CET on its first call, or at the same time on June 1 if the required quorum is not met. It will be held exclusively online and will be an ordinary meeting. It has been explicitly stated that, at least for now, the agenda will not include any items related to the ongoing discussions with the US company The Estée Lauder regarding a potential business integration.

The agenda for the upcoming Puig Annual General Meeting, which will take place exactly one year after the 2025 meeting, has been finalised with thirteen points. The meeting on May 29 will address several key items. These include the examination and approval of the individual and consolidated financial statements for the 2025 financial year; the consolidated non-financial management report and sustainability information; the dividend distribution; and the management report by the Board of Directors. Additionally, the agenda covers the re-election of the accounts auditor for the 2026 financial year; the appointment of the sustainability information verifier for the same period; the approval of the remuneration policy for the company's Board of Directors; the approval of the delivery of Class B shares to executive directors as payment for the variable components of their remuneration; a consultative vote on the Annual Report on Directors' Remuneration for the 2025 financial year; and a vote on the delegation of powers for the execution of the adopted resolutions.

Among the thirteen items to be discussed at the meeting, two have generated significant initial interest. The 12th item on the agenda is the vote to authorise the sale of the 'Aromas de Castilla' brand. Puig's Board of Directors has specified that they have a buyer for the brand, which would be sold for approximately 20,000 euros (23,392 dollars). This amount is higher than its book value. The sale requires authorisation from the Annual General Meeting in accordance with the company's bylaws and the Capital Companies Act, even though the brand represents no more than 5 percent of Puig's revenue. The company considers it a non-essential asset and not 'materially relevant in terms of asset volume, revenue figures, or contribution to Puig's business'. Its classification as an 'essential asset', requiring shareholder approval for its sale, is due to it having belonged to Puig for more than ten years. In the case of 'Aromas de Castilla', this period extends to 58 years, since the brand was registered in 1968.

Resignation of Josep Oliu

The second point of interest is the eighth item on the agenda, where Puig's Board of Directors has agreed to propose the re-election and appointment of the Board of Directors. This governing body has noted the decision of Josep Oliu, chairman of Banco Sabadell, to resign from Puig's board. Oliu holds 0.004 percent of the voting rights and has been a member of the Board of Directors for nearly 24 years, since October 1, 2002. He served as a proprietary director nominated by and representing Exea Inversión Empresarial, the Puig family's holding company. Through this entity, the family controls 93.21 percent of the company's voting rights, and Oliu serves as a member and chairman of its Board of Directors.

In light of this information, speculation quickly arose suggesting that Oliu's departure signals his disapproval of the ongoing negotiations between Puig and The Estée Lauder regarding a potential merger, integration, or sale. Oliu, who holds a degree in Economics from the University of Barcelona, a PhD in Economics from the University of Minnesota, and has been chairman of Banco Sabadell since 1999, is thought to oppose the potential loss of the historic Spanish company's independence, a concern previously highlighted by FashionUnited at the end of last March. However, Puig clarified on Tuesday morning that Oliu's resignation is solely due to the upcoming expiration of his term as a board member. Oliu was reappointed in December 2023 for a three-year term ending on December 18, 2026. He reportedly cited this expiration as the reason for his resignation in a written letter submitted to the board of the Spanish fashion and beauty multinational.

Puig's statement to the CNMV on Tuesday, which provided more detail on the meeting's agenda, confirmed the resignation. "With effect from today," the company noted, "the resignation submitted by letter addressed to the Company today by Mr Josep Oliu Creus" has been accepted. "For the appropriate purposes," the statement continued, "it is hereby expressly stated that, as set out in the aforementioned letter... his resignation on this date is exclusively motivated by the proximity of the expiry date of his term as a director, which would take place on December 18, 2026." The statement also noted that his resignation "facilitates the unification of the terms of appointment and renewal of the members of the Board of Directors, also allowing a new stage in the composition and structure of the Company's Board of Directors to begin from this date." The company concluded by expressing its gratitude "for the services rendered by the Director in the exercise of his office".

Re-election of Marc Puig as executive director, and appointment of Jose Manuel Albesa

Among the proposals to be presented at the upcoming Puig Annual General Meeting, the Board of Directors will propose its renewal. It remains to be seen if these changes will materialise and for how long. The proposal includes the departure of Oliu and the appointment of new board members: Julie Van Ongevalle, president and CEO of the over-the-counter medicines company Opella, as an independent director; and Jose Manuel Albesa, the new CEO of Puig, as a new executive director.

In addition to these two new appointments, the re-elections of several board members will be proposed. These include Marc Puig (executive director); Nicolas Mirzayantz (independent director); Daniel Lalonde (independent director); Ángeles García-Poveda Morera (independent director); Jordi Constans Fernández; Ioannis Petrides; Rafael Cerezo Laporta; and Christine Ann Mei (independent director). Following these new appointments and re-elections, the renewed board will consist of thirteen members.

Prom dress retailer Sherri Hill is taking action against various e-commerce platforms that it has accused of using copyrighted imagery and design elements without authorisation.

Filed with the US District Court for the Southern District of New York, the case has been brought against Medon, Inc., SheIsMe, Inc., and related individuals and entities operating the KissProm.com and SheIsMe.com websites.

According to the complaint, brought by Gioconda Law Group PLLC, the images in question are protected under Sherri Hill’s registered copyright portfolio, and have been used in the brand’s marketing and branding initiatives.

The company alleges that the accused companies used the images for their own advertising and in the sale of formal dresses, altering and displaying them without permission.

Sherri Hill cited federal copyright law, specifically in regards to infringement and removal or alteration of copyright management information, as well as related claims under federal and New York law.

The company said it is seeking various relief, including damages, injunctive relief, and other remedies.

The defendants of the filing have not yet responded to the lawsuit, and the allegations made remain unadjudicated, Gioconda Law Group reported.

This week, markets will scrutinise the results of tech leaders Amazon, Microsoft, Alphabet, Meta, Apple, Nvidia and Tesla. At the core of expectations is the need for proof. Their massive investments in artificial intelligence must finally begin to show tangible returns.

Critical equation: billions versus uncertain revenues

Hyperscalers have committed to unprecedented spending. According to estimates reported by Michael Keen (Decision Signal System), their cumulative investments could reach 600 to 750 billion dollars by 2026, with historically high capex-to-revenue ratios.

This imbalance fuels a central concern. The AI economy remains heavily dependent on computing power, with costs increasing almost linearly with usage. Unlike traditional software, margins do not automatically improve with scale. The results published this week will therefore be crucial for identifying tangible signs of monetisation.

Nvidia, barometer of a still euphoric cycle

In this landscape, Nvidia acts as the final arbiter. The group has posted record revenues driven by GPU demand, with quarterly sales of 57 billion dollars, an increase of 62 percent year-over-year. While infrastructure demand remains tight, attention is now shifting to the tech leaders themselves and their ability to transform these costly servers into sustainable revenue.

Why fashion is now on the front line

The impact on the fashion and beauty industry may seem indirect, but it could already be in effect. AI has become a cross-cutting infrastructure that optimises retail and consumer goods at every level. L'Oréal exemplifies this paradigm shift. By extending its partnership with Nvidia, the group has moved from marketing to augmented R&D, capable of simulating formulations at a molecular level to accelerate innovation.

This crossover between fashion and tech is reaching a new milestone with the integration of AI into the core of the product. The partnership between EssilorLuxottica and Meta for the Ray-Ban Meta glasses is the most tangible proof. The fashion accessory becomes an embedded AI terminal, capable of identifying objects or translating in real time. In this case, the commercial success of the frames is directly dependent on the performance of Meta's language models.

Today, the entire value chain is permeated by these technologies. This includes generative marketing for automated campaigns and predictive personalisation for product recommendations. It also extends to the precise optimisation of stock levels and computer-assisted design.

Domino effect on the fashion-tech ecosystem

The consequences of these results extend far beyond Silicon Valley and could reshape the budgets of fashion brands' innovation departments.

A successful outcome: If the tech giants confirm a solid return on investment, AI investments could accelerate further. This would make tools more accessible and encourage luxury and ready-to-wear players to intensify their transformation.

A disappointing outcome: Conversely, lacklustre results could lead to tighter budgets. This would cause a slowdown in tech-fashion collaborations and a sharp contraction for fashion-tech startups specialising in retail data.

Sector under technological influence

This subtly outlines a scenario where fashion becomes increasingly dependent on external forces. The key question is whether the sector is becoming reliant on technological dynamics beyond its control. In an industry historically centred on the creative process, competitiveness may now hinge on access to computing power and mastery of AI platforms. The results of the 'Magnificent Seven' will provide a decisive signal in this regard.

Lithuanian second-hand marketplace Vinted has completed a secondary share transaction of 880 million euros (1.030 million dollars). This latest move establishes an equity valuation of 8 billion euros for the consumer-to-consumer (C2C) platform.

The transaction was led by Swedish investment firm EQT, British asset manager Schroders Capital, and Teachers’ Venture Growth (TVG). TVG serves as the late-stage venture investment platform for the Ontario Teachers’ Pension Plan.

Financial performance and growth trajectories

In 2025, Vinted reported a gross merchandise value (GMV) increase of 47 percent year-over-year (YoY) to 10.80 billion euros. During this period, the group generated 1.10 billion euros in annual revenue and 62 million euros in net profits across 26 markets.

The group is not raising new primary capital through this transaction, citing a strong balance sheet and several years of positive cash flow. These resources provide the capacity to invest in growth from existing reserves while providing liquidity for employees and institutional investors.

Expanded investor base and institutional support

The transaction was significantly oversubscribed and attracted a variety of high-profile financial institutions. New investors include funds managed by US-based BlackRock, Swiss firm Lombard Odier Investment Managers, and Pinegrove Opportunity Partners.

EQT increased its existing holding, while British investment trust Baillie Gifford also chose to expand its position. Schroders Capital, an indirect investor since 2018, has now joined as a direct shareholder alongside TVG.

Strategic focus on infrastructure and circular economy

Vinted CEO Thomas Plantenga noted that the valuation reflects the progress made in embedding the marketplace within a vertically integrated ecosystem. This includes the development of Vinted Go and Vinted Pay to manage shipping and payment infrastructure.

"Online second-hand is growing faster than general e-commerce," Plantenga stated. "We have built the fundamentals so we are well positioned to capture and drive this growth."

EQT partner Carolina Brochado stated that the firm is doubling down on its conviction in the strategy of the technology business. According to TVG head of EMEA Avid Larizadeh-Duggan, the marketplace is distinguished by its scale and disciplined operating model. Larizadeh-Duggan also noted the expansion of the platform beyond fashion into adjacent categories like electronics.

Schroders Capital head of global venture investments, private equity, Steven Yang, added that the company is at the heart of a structural shift in consumer habits. Goldman Sachs International acted as the sole placement agent for the transaction, while US law firm Cooley provided legal advice to the marketplace.

Swiss leader Richemont, driven by the strength of its jewellery houses, is seeing the weaknesses of its fashion and accessories division intensify. Amid repeated capital injections and slowing growth, the group faces a structural profitability challenge.

While the strength of Richemont's jewellery and watchmaking divisions is well-established, the 'Soft Luxury' division is showing warning signs. Behind the prestigious names, several of the group's iconic houses are navigating financial turbulence, requiring regular interventions from the parent company.

Financial injections that raise questions

The case of Delvaux perfectly illustrates these tensions. According to information from Retail Detail, Richemont carried out a massive debt conversion in April 2026. 100.6 million euros (117.7 million dollars) were converted into equity to stabilise the Belgian leather goods brand. This operation follows an initial injection of 90 million euros in 2022, revealing that the brand's ultra-premium positioning is still struggling to be self-financing.

The situation at the house of Alaïa is hardly more stable from an accounting perspective. Although critics unanimously praise the brand's creative revival, media outlet Glitz highlights that its growth remains loss-making. Despite an improvement in commercial momentum, Alaïa remains structurally dependent on the group's financial support. It is struggling to transform its artistic prestige into operational profitability.

Chloé: a new point of concern?

In this contrasting landscape, Chloé is now the focus of analysts' attention. While the Parisian house has shown robust growth in the past — with an estimated turnover of 660 million euros in 2023 according to Vogue — it now operates in a division that is losing momentum.

As early as the 2023 financial year, sales in the 'Other' division, which includes Chloé, Alaïa and Montblanc, had slowed down significantly. In a global context of a normalising luxury market, this deceleration automatically increases the pressure on brands with the most fragile margins.

Challenge of critical mass

The contrast with the group's 'powerhouses' is striking. Driven by Cartier and Van Cleef & Arpels, Richemont is posting record overall results. However, the fashion segment remains historically complex for the group. Unlike its rivals LVMH or Kering, Richemont suffers from a lack of critical mass in ready-to-wear, a handicap regularly pointed out by market observers.

The acquisition of new assets such as Gianvito Rossi demonstrates a desire to move upmarket and streamline the portfolio. However, the results of this strategic experiment remain mixed.

Towards an inevitable trade-off?

It remains to be seen whether Johann Rupert will agree to prop up houses with intact prestige but elusive profitability in a market that no longer forgives chronic deficits. Faced with investors who are now reluctant to tolerate long-term loss-making centres, the group could be forced to accept a structural dependence of these houses on jewellery or consider a more radical reorganisation of its portfolio. The answer to this dilemma will reshape the group's strategic balance for the decade to come.

Armedangels is advancing its international expansion by entering the US market. The Cologne-based fashion brand will launch there at the end of April with a direct-to-consumer model, the company announced on Monday. Distribution will initially be handled through its own online shop, with additional sales channels planned for the future. This market entry is part of the sustainability-focused label's long-term growth strategy.

“The US is one of the most important and demanding apparel markets in the world,” said Martin Höfeler, founder and CEO of Armedangels. “There is a growing demand for better products, but also increasing confusion around sustainability promises. Our approach is transparent and simple: we provide clear, verifiable information so that customers can decide for themselves.”

The US market launch centres on the development of innovative materials designed to reduce dependence on new and fossil-based raw materials, while ensuring performance and durability. In this context, the company is introducing its “DetoxDenim” line. This collection aims to reduce the use of certain chemicals and, according to the company, utilises alternative processes such as ozone and laser technology, as well as softeners certified by the Global Organic Textile Standard (GOTS).

For the spring/summer 2026 season, the company is also announcing its entry into the functional outerwear sector. A windbreaker has been created in collaboration with fibre manufacturer Lenzing AG and, according to the manufacturer, is made from Tencel-Lyocell.

Founded in 2007, the company has nearly two decades of experience in the sustainable fashion segment. According to the company, its business model is based on certified materials; verified supply chains; and a focus on product longevity. Its latest Impact Report states that around 99 percent of its material mix consists of organically grown, recycled or so-called next-generation fibres.

French group SMCP, the parent company of brands Sandro, Maje, Claudie Pierlot and Fursac, published its first-quarter 2026 results on Tuesday. While overall turnover remains stable, performance was driven by international markets as the French market experienced a sharp decline.

The group's turnover stood at 287 million euros (335.6 million dollars), a slight year-over-year decrease of 0.8 percent. This apparent stability, however, masks diverging trends across different geographical regions.

France lags behind as international markets drive growth

The French market was the only one to decline, with turnover down 13 percent to 89 million euros. According to the group's statement, this underperformance was “penalised by a sluggish consumer environment” and “the contraction of the store network (BHV-SGM)”.

SMCP closed 25 points-of-sale in 2025. These were located within the BHV department store in Paris and former Galeries Lafayette stores in several regional cities, including Limoges, Dijon, Grenoble, Reims, and Angers. The group justified this decision by citing unpaid bills from SGM, the operator of BHV.

Isabelle Guichot, the group's chief executive officer, also explained that the decline was due to “a lower contribution from the official January sales”. The group chose to limit promotions to protect its brand image.

Dynamism in America and Europe

Conversely, SMCP demonstrated robust performance outside of France:

• Americas: +11.7 percent (44 million euros).

• Europe (excluding France) and the Middle East: +4.9 percent (103 million euros). The group specified that this figure was “not impacted” by the war in the Middle East at this stage. Deliveries for the spring/summer 2026 collection were completed before the conflict began.

• Asia-Pacific: +2.6 percent (51 million euros).

Maje stands out

Performance among the individual brands was mixed. Maje showed the best growth with a 5 percent increase in sales. Sandro recorded a slight decrease of 1.4 percent, while the division comprising Claudie Pierlot and Fursac experienced a more significant drop of 15.1 percent.

“In the first quarter of 2026, the group demonstrated resilience in a challenging environment,” insisted Guichot. She praised “the positive momentum recorded in most regions”, seeing it as proof of “the solidity of our model and the relevance of our execution”.

Currently present in 59 countries, SMCP operates a network of approximately 1,600 points-of-sale worldwide.

Fashion accessories retailer Claire’s has shuttered all standalone stores across the UK and Ireland after entering administration for the second time within a 12-month period. Administrators from the financial advisory firm Kroll confirmed that 154 locations have ceased trading, resulting in more than 1,300 staff members being notified of redundancy.

While the brick and mortar portfolio has been dismantled, the brand’s 350 concessions located within other retail partners will remain operational. The collapse follows a period of significant financial instability for the company, which became a staple of the high street through its jewellery offerings and ear piercing services.

External market pressures and shifting consumer habits

The retailer has struggled to maintain market share against the rise of ultra-fast fashion e-commerce platforms, specifically China-based firms Shein and Temu. These digital-first competitors have utilised aggressive pricing strategies that have undercut traditional value retailers.

Modella Capital, the previous owners of the business, noted in January that a period of alarming low trading during the Christmas season left the company in a vulnerable position. The firm also cited an extremely challenging environment on the high street, further exacerbated by government policies that increased staffing costs, such as National Insurance contributions.

Industry analysts suggest that the difficulties facing the retailer extend beyond macroeconomic factors to a fundamental shift in aesthetic preferences among younger demographics.

Competition for Gen Alpha expenditure

The competitive landscape has been further crowded by other high street entities, including Irish retailer Primark and UK-based health and beauty chain Superdrug, both of which have expanded their value accessories departments. Savvy Retail founder and chief executive officer Catherine Shuttleworth told BBC that the target demographic, often referred to as Gen Alpha, now has a broader range of discretionary spending options.

The insolvency proceedings in the UK and Ireland reflect broader issues within the global organisation. The US arm of the company filed for bankruptcy for the second time in 2025, following a previous filing in 2018.

Under the current transition, Kroll confirmed that as of April 27, 2026, all store employees have been formally advised of their redundancy as the standalone business concludes its operations.

At the root of the sustainability crisis in fashion lies a clouded relationship between brand and supplier, which is a direct consequence of outsourcing production to low-wage countries. In recent decades, the supply chain has become so fragmented that oversight regarding who makes what—and exactly how—has been lost. Now, the industry wants to do things differently: with green factories, living wages, and long-lasting designs. How can it find its way back? It starts by healing that relationship, according to the non-profit Fashion Producer Collective (FPC).

Amplifying the voice of the producer

FPC advocates for the interests of garment manufacturers, particularly in the context of sustainability. The formation began back in 2020 around the Manufactured podcast, in which former factory manager Kim van der Weerd gives a voice to manufacturers in the fashion world. This includes sharing their frustrations regarding sustainability—specifically policies imposed by brands without consultation or financing, and misconceptions about what sustainability requires in practice.

"Producers from all corners of the world connected through this," says Gauri Sharma, director of strategy and engagement at the collective since 2025. “They began coming together at conferences and in online meetings. In 2023, they wrote their first white papers on legislation, climate finance, and the role of multi-stakeholder institutions like the Sustainable Apparel Coalition and ACT in involving producers.” After a period of volunteering funded by grants, FPC became a formal collective at the end of 2025.

The collective has twelve formal members: manufacturers from countries such as Sri Lanka, Hong Kong, India, and Pakistan, representing both the front and back ends of the chain—from packaging to fashion accessories. Five of the twelve members are co-founders and have a say in the collective's direction. Members decide for themselves which projects to join, and non-members can also participate for a surcharge.

The core team, or what Sharma calls a “fully remote headquarters,” consists of Van der Weerd (full-time), supplemented by four five part-timers covering everything from communications to finance. They maintain a Substack, organize projects, and facilitate collaborations with external parties—such as their recent work with their first fashion brand, “a large, international clothing company,” says Sharma. She cannot yet disclose the name. "We are helping their sustainability team involve their supplier base in shaping their strategy."

Top-down

Since the rise of fast fashion, a hierarchy has emerged in the supply chain where manufacturers are told what to do: under what conditions they must produce, which guidelines to follow, and that they must submit to inspections. This same top-down mentality exists within the organizations that develop frameworks, policies, and programs for manufacturers. “Manufacturers are rarely involved as equal partners,” says Sharma, speaking from her experience as General Manager, ESG & Innovation at Shahi Exports, one of India's largest manufacturers. "At most, they are brought in for a brief feedback round when it is already almost too late for valuable input."

That perspective also affects the industry's sustainability efforts—a theme that came under intense scrutiny following the pandemic. "Greening the supply chain became a focal point," says Sharma, "but there was still no co-creation of those plans. Sustainability teams ask factories to meet targets and test new materials, while procurement teams continue to negotiate for low prices and are unwilling to cover those extra costs. If a manufacturer has done R&D on a new fiber and it works well, but the commercial team says, ‘we won’t pay a cent more for it’—the innovation stops right there."

As an example of such a recurring sustainability hurdle, Sharma cites brands' desire to stop using coal. "Factories then have to invest in new boilers and alternative fuel sources—this costs money and increases operational costs. Some large manufacturers manage, but it takes enormous effort and is commercially unsustainable in the long run without support. Regarding decarbonization, the industry tends to generalize: everyone must get off coal. But no one asks: what support do manufacturers need for that?” As long as brands and suppliers do not communicate at eye level, sustainability will not get off the ground, FPC reasons. “Sustainability strategies are imposed on the parties who must execute them, without those parties being involved in the design—and without financial support to realize them. This is what we want to tackle as FPC.”

Producer-led projects

The first concrete result of the producer-led approach is Bang for Buck, a decision-support tool designed to help factories identify and prioritize the most cost-effective decarbonization investments for their facilities. The project is commissioned and led by Elevate Textiles, Epic Group and Shahi Exports, with support from GIZ FABRIC and technical partner Grant Thornton Bharat. Bang for Buck will be released to the public this April.

Additionally, FPC facilitates communities of practice: conversations between suppliers about difficult themes. Recently, traceability was the central focus. Sharma: "Manufacturers are flooded with requests from brands to map out their production processes, even though it is very complex because almost no company talks about it openly." In April, a series on heat stress will begin, as temperatures in production countries reach record highs and manufacturers must equip their facilities against it. "It is a serious problem that is currently not being addressed by brands from the point of view of risk-sharing rather than an audit requirement.”

Regarding priorities, FPC is guided by what is happening on the ground; Sharma listens a lot, she says, through a WhatsApp group, meetings, and social media channels. "Only when there is enough interest in a project does a group of designated members get to work. We didn't set up this organization for appearances. We don't want to become bureaucratic or traditional; we must work actively, agilely, and above all, be producer-led, because we are trying to create something that doesn't exist yet."

Knowledge base

Brands also stand to gain, Sharma believes. Most have not produced anything themselves for decades—production is expensive, risky, and labor-intensive, hence the outsourcing. With that, much of the specialist knowledge within the brands themselves disappeared.

"Much of what you see in a store is co-designed by manufacturers. Large or specialized manufacturers have huge design teams, quality testing labs, fabric engineers, and technical production engineers. That expertise now resides with the manufacturer. If you, as a brand, want to test recycled fibers or find out if a factory can be electrified, you have to lean on your manufacturer. As long as you don't involve them as equal partners, you are leaving an enormous knowledge base untapped."

Ultimately, she explains what FPC wants to change. "We want manufacturers to become co-designers instead of just executors—acting as equal thinking partners in sustainability visions and strategies. Hopefully, this will lead to a change in mentality and, through that, strategies that are practical and actionable."

How to heal the relationship with your supplier

Based on Sharma’s master's dissertation research at the University of Cambridge and the practices of the Fashion Producer Collective, Sharma offers five tips for brands looking to improve their relationship with suppliers:

1. Involve suppliers earlier. “Currently, they are often only brought in once the strategy is already set. Their absence in the design phase often leads to unfeasible plans.”
2. Ensure internal alignment. “Within brands, sustainability teams and procurement teams often contradict each other. This sends conflicting signals and slows down sustainability plans.”
3. Focus on the what, not the how. “As a brand, determine the sustainability goal and the reason for it; leave the execution to the manufacturer. They have the technical, context-specific expertise and know how sustainability can be scaled most efficiently.”
4. Offer certainty and share the benefits. “Stop demanding change without giving anything in return. Suppliers will only invest in new technology if there is a clear business case and a long-term vision behind it.”
5. Build a structural dialogue. “Replace one-off audits with constructive, continuous collaboration—for example, through workshops or learning platforms. This builds trust and unlocks the expertise needed for sustainability that is currently stuck in the chain.”

Ashley McDonnell, an Irish-American executive with experience across LVMH, Google and Puig, has launched Ireland’s first luxury conglomerate, VYKO Group, designed to acquire and scale emerging luxury brands.

In a statement, McDonnell, who has more than a decade of global leadership within the luxury and technology sectors, with senior roles at LVMH (Paris), Google (Dublin), and Puig (Geneva and Paris), as well as founding Ireland Fashion Week, is looking to spearhead a new era for Irish luxury, by scaling brands by driving digital, media, and e-commerce strategies for global success.

VYKO Group is looking to raise 50 million euros this year to support its first acquisitions by the end of this year. The group said it is aiming to “address a longstanding gap in the market” by acquiring minority to full stakes, from 35 to 100 percent, in brands across fashion, beauty, spirits, jewellery and fine food, combining investment with a centralised operating model.

“We aren’t just launching a company; we are building an ecosystem,” said McDonnell. “The opportunity is to prove that brands can be built and scaled internationally from Ireland, rather than having to leave to succeed.”

VYKO will mirror the approach of legacy conglomerates, such as LVMH and Kering, including digital commerce, marketing, international communications, retail development and supply chain management, but with a “more technology-led and flexible structure”.

McDonnell states that the timing of the launch reflects a broader shift in how luxury brands are built, as well as a new generation of labels emerging with digital-first distribution, sustainability embedded in production, and community-driven growth strategies, areas where traditional groups have often had to retrofit capabilities.

The founder and chief executive also adds that Ireland is “increasingly well-positioned to participate in this shift” due to how the country’s cultural influence has expanded internationally in recent years, with actors including Paul Mescal, Saoirse Ronan, and Jessie Buckley gaining international success, while designers such as Jonathan Anderson, Seán McGirr and Simone Rocha are representing Ireland on the contemporary fashion landscape.

“Despite this visibility, much of Ireland’s fashion success has been built abroad. VYKO’s strategy is to create the conditions for brands to scale from within Ireland, retaining more of the economic value domestically,” added the company.

VYKO Group looks to build a culture-first, digital-forward conglomerate for Irish luxury brands

A key focal point of its strategy is investment in heritage craftsmanship, with the group planning to back brands working with traditional Irish materials and techniques, such as Donegal tweed, Aran knitwear, metalwork and distillation, while supporting local manufacturing capacity.

The goal is "to align heritage production with global luxury demand, at a time when consumers are placing greater emphasis on provenance and authenticity”.

“While the dominance of Paris- and Milan-based conglomerates remains firmly intact, VYKO is an early attempt to test a decentralised model, one rooted in cultural identity, but built with global scale in mind,” added the luxury group.

McDonnell, who founded Ireland Fashion Week in 2025, will also use the platform as a broader talent pipeline. The debut iteration of the fashion week supported more than 50 designers, and it is set to expand to over 90 participants, with backing from partners including Visa and L’Oréal.

With its desire to build the future of the Irish luxury ecosystem, VYKO Group is being backed by an advisory board featuring Jonathan Siboni, founder and chief executive of Luxurynsight; Thuy-Anh J Nguyen, president of ECG Consulting; Alexis Delannoy, Private Equity, Alpera Partners; Sophie Djordjevic, senior marketing manager at JD.com; Elizabet Aleksieva, business development director at Puig and founder of Beauty Talks; and Patti Brown, associate dean of accredited programmes at University of Oxford Said Business School.

Commenting on the launch, Jonathan Siboni, founder and chief executive of Luxurynsight, said: "Ireland has the talent, the stories, and energy to rival any country in the world. Technology is the present and future of any brand with global ambitions; it is something inherent to the business ecosystem in Ireland, as well as to VYKO’s founder."

Thuy-Anh J Nguyen, president of ECG Consulting, added: "Ireland’s cultural relevance on the global stage has never been stronger. Through the power of a group, as well as the platform of Ireland Fashion Week, VYKO will allow creatives and creatively-led brands to move at the speed of culture."

UK biotechnology company Epoch Biodesign is set to open Europe’s first and the world’s biggest nylon 6,6 biorecycling demonstration facility. 

The global leader in enzymatic recycling, the plant will open at Grapht Works, Imperial College in North Acton, London, the city’s new pilot manufacturing facility. The announcement comes a month after Epoch Biodesign closed a 12 million US dollar strategic funding round, where it received investment from Canadian activewear brand Lululemon, Kompas VC, Happiness Capital, Extantia, and Leitmotif (a VC backed by Volkswagen). 

Marking the next step in Epoch Biodesign’s scale-up trajectory, the new facility will be capable of processing hundreds of tonnes of post-consumer nylon 6,6 waste annually. Epoch Biodesign uses AI-designed enzymes to break down end-of-life nylon 6,6 waste, including airbag fabric, elastane blends, and used apparel, into virgin-quality building blocks that can re-enter the supply chain with no loss in performance. The process is said to be more selective and lower-carbon than standard chemical recycling.

Epoch Biodesign uses funding to open nylon 6,6 biorecycling demonstration facility

The new facility is in line with incoming EU ESPR regulations, which, from July 2026, will ban the destruction of unsold clothing. With less than 1 percent of textiles recycled into new textiles today, the need for innovative, scalable solutions for recycling mixed nylon waste is at an all-time high. According to a 2022 report from McKinsey & Company, textile recycling at scale could help solve Europe’s waste problem, with an 18 to 26 percent fiber-to-fiber recycling rate achievable by 2030.

“One of the most important advantages of our biological process is what it does not do. It does not require high temperatures. It does not demand the heavy industrial infrastructure that has historically meant manufacturing must be sited far from where people live and work,” said Jacob Nathan, founder and CEO of Epoch Biodesign, in a statement.

“The Grapht Works facility sits inside a broader urban neighbourhood in London. The fact that we can build and operate a nylon 6,6 recycling plant in Greater London is not incidental; it is a feature of the clean, low-energy process our team has developed. This is what genuinely circular, industrial biochemistry looks like.” 

The demonstration facility, set to open sometime during the third quarter of 2026, builds on the company’s growing commercial push. Earlier this year, Epoch Biodesign signed a Memorandum of Understanding with Invista, a global leader in the production of nylon 6,6, to accelerate the development of post-consumer recycled nylon 6,6 at commercial scale. 

"The Grapht Works plant has the capacity to process hundreds of tonnes of post-consumer nylon 6,6 waste a year: this is sourced from apparel and automotive products, as well as various industrial applications,” added Luciano Caruso, Chief Commercial Officer at Epoch Biodesign, in a statement. 

“New EU regulations require these industries to confront what they do with end-of-life nylon, and incineration or landfill are no longer acceptable answers. The new plant validates our biological process both technically and commercially, demonstrating to industry partners and policymakers that a truly circular, clean, and economically viable route to nylon recycling exists today. This is the start of a sustainable, resilient supply chain of a critical material, without the pricing volatility associated with petrochemical-derived products.”

Founded in London in 2019, Epoch Biodesign has raised more than 50 million US dollars from investors, including Lululemon, Lowercarbon Capital, Extantia, Kompas VC, Happiness Capital, Leitmotif, and Inditex's Mundi Ventures. A T2T Alliance member, the company is also working with EU policymakers to help make circular materials the industry standard while constructing its second biorecycling facility.

StockX has introduced a new feature, “Store at StockX,” allowing customers to buy and sell products without ever taking physical possession of them.

Currently available to select users in the US, the feature enables shoppers to purchase items that are sent directly to StockX verification centres. Once authenticated, ownership is transferred to the buyer, who can immediately relist the product for sale from within the platform.

Customers still have the option to request delivery at any time. The feature is designed to reduce costs by removing repeated shipping and handling, while also addressing common challenges in resale such as inventory storage and logistics.

Greg Schwartz, CEO of StockX, said: “By eliminating the need to physically move products, Store at StockX marks an evolution in how people engage with our marketplace.

“It unlocks new opportunities for users who already buy with the intent to resell, while lowering barriers for those previously deterred by shipping costs and other fees.”

Store at StockX is currently limited to users of StockX Pro Buying, a tool aimed at high-volume and professional buyers, with wider access expected over time.

The launch builds on the company’s earlier infrastructure investments, including its Flex storage programme introduced in 2023, which allows sellers to store unsold inventory within StockX facilities.

Schwartz added: “This feature delivers a faster, more efficient way to trade on StockX, enabling sellers to respond to market opportunities in near-real-time.”

StockX said it will also introduce the option for users to fund purchases using proceeds from previous sales, further streamlining the resale process.

Accessories, jewelry, and toy retailer Claire’s is relocating its headquarters in Illinois as part of its wider strategy to help the company return to growth.

The youth- and trend-driven retailer will relocate from its current location in Hoffman Estates to Columbia Center III in Rosemont, Illinois, occupying 43,200 square feet at the site. Claire’s is set to relocate to the Class A office tower, which includes on-site amenities such as a fitness center, on-site dining, and covered parking, in early 2027.

News of the relocation was announced by Newmark, a commercial real estate firm, which worked together with RCS Real Estate Advisors to broker the leases on behalf of Ames Watson. Details regarding the lease were not disclosed.

Ames Watson, a holding company, purchased Claire’s last year for 140 million US dollars following its Chapter 11 bankruptcy, saving the accessories retail company from complete liquidation. Ames Watson previously worked with RCS, which oversaw due diligence and landlord negotiations that kept hundreds of Claire's locations from closing last year.

The relocation of Claire’s headquarters sees the accessories retailer reposition itself closer to the central business district of Chicago, with the aim of strengthening access to talent while remaining connected to the current suburban workforce. The new headquarters, located at 9295 W. Bryn Mawr Avenue, is near the Rosemont CTA Blue Line station, which has direct transit to downtown Chicago and the O’Hare International Airport, and major highways to the rest of the city.

“Claire’s was seeking a modern, amenity-rich workspace in a highly accessible location that would support both talent recruitment and retention,” said Sean Moran, associate director of Newmark, in a statement. “We were proud to represent the company in securing a headquarters that aligns with its strategic goals and sets the stage for its next phase of growth.”

“Through our work together on major strategic initiatives, from the Claire’s acquisition to the evolution of their industrial and logistics portfolio, we have developed a deep understanding of the business and how its workplace needs are shifting as the brand engages a new generation of consumers,” added Spence Mehl, from RCS Real Estate Advisors, in a statement.

Claire's, a global accessories chain founded in 1961, is known for affordable, trendy products and ear piercing for tweens and teens. In 2025, its UK, USA, and French operations all entered formal business protection from bankruptcy as the retailer struggled financially. Ames Watson is reshaping the retailer in the USA, improving piercing and piercer training, expanding its reach to age 14, and updating stores and marketing.

Sportswear giant Nike has confirmed another series of layoffs as it continues to move forward with its ongoing ‘Win Now’ turnaround strategy.

The company confirmed to FootwearNews (FN) that approximately 1,400 operations roles have been cut across North America, Europe and Asia, representing less than 2 percent of Nike’s global team.

The "significant changes” are said to be underway globally, and centre largely around streamlining certain team structures. It was noted that those impacted would hear directly from their leaders and HR starting April 23.

The brand’s technology division will be among those impacted as it moves towards a setup prioritising speed. Focus will now be placed on two hubs: Philip H. Knight Campus in Beaverton, Oregon, and the Nike India Technology Centre.

At Converse, Nike is also planning to move some of the footwear brand’s manufacturing and engineering resources closer to factory partners, while its materials supply chain will come under the umbrella of Nike’s own footwear and apparel teams, FN said.

A memo seen by the media outlet and issued by chief operating officer Venkatesh Alagirisamy stated that the layoffs were part of “deliberate steps to strengthen” the company’s foundation and build a simplified business model designed to deliver long-term profitable growth.

Algirisamy continued: “Over the coming months, we will continue evolving global operations to better serve athletes and the business with more speed, simplicity, and precision. Some of that work is happening now and more will continue over time as we align our teams, capabilities, and footprint to the future needs of the company.”

This latest round of layoffs follows a prior job cuts in January that impacted 775 roles across Nike’s US distribution centres. At Converse, meanwhile, a separate restructuring process initiated in February also resulted in job cuts, specific details of which were not disclosed.

Supermarket giant Sainsbury’s reported a 4.9 percent increase in overall FY25 sales in a preliminary report published this week, with market outperformance particularly seen within its Tu Clothing line. Despite recording “strong” growth, however, the retailer is eyeing operational changes among the brand’s team, with redundancies believed to be on the table.

According to Sainsbury’s preliminary results for the 52 weeks ended 28 February 2026, clothing sales were up 4.8 percent, as the spring/summer season offset an unseasonal second half weather. This marked Tu’s seventh consecutive quarter of outperforming the broader clothing market, bolstered by a 20 percent online sales growth.

While the results show a positive trajectory for Tu, Sainsbury’s is reportedly in early-stage discussions with the team of the clothing brand to address possible operational changes, The Industry.Fashion said. Redundancies are to be expected, according to the report.

A spokesperson for the company told the media outlet that the review formed part of Sainsbury’s ongoing Next Level Strategy, which is entering its final year. They added: “While we will regrettably lose some roles as part of this process, we expect to see many created as well.”

While on a broader scale Sainsbury’s affirmed it was in a “strong competitive position” as it entered FY26, the company warned that the conflict in the Middle East “will impact both our customers and our business”.

It explained: “The duration and extent of these impacts is very uncertain and this is reflected in our profit guidance, where we currently expect to deliver total underlying operating profit of between 975 million pounds and 1.075 million pounds.”

Commenting in the report, CEO Simon Roberts said: “More and more customers are choosing Sainsbury’s for more of their shopping, trusting us to deliver great value day in day out. The conflict in the Middle East means customers are even more focused on the cost of living and we are absolutely committed to making sure everyone gets the best possible value when they shop with us.”

Danish brand Les Deux has confirmed its resilience and agility. In 2025, the Copenhagen-based label recorded a 13 percent increase in turnover, marking its fourteenth consecutive year of growth amid a challenging global wholesale market.

While the fashion sector is experiencing a significant slowdown, Les Deux is demonstrating robust health. For the 2025 financial year, the brand announced a pre-tax profit of 8.68 million euros (64.9 million DKK). Its gross margin stands at 16.04 million euros, and its equity has risen to 17.94 million euros. This solid financial performance reflects the success of its international expansion and rigorous operational management.

Proximity to partners as a driving force

The secret to this success lies in direct integration within key markets. For the past two years, Les Deux has been internalising its operations, replacing agents and distributors with in-house management. This approach was recently implemented in the Benelux, Switzerland and Greece.

“It is no secret that the wholesale market is challenging right now. Our approach, however, has been consistent for several years, and that is what is driving growth,” explains Kristoffer Haapanen, CEO of Les Deux. “The closer we are to our partners, the better the brand performs. This is a people-driven industry.”

A physical and international offensive

The year 2025 was marked by a significant physical expansion:

• Over 250 new wholesale accounts opened globally.

• The opening of showrooms in London and Amsterdam.

• The inauguration of an international flagship store in Paris, strengthening its foothold in the French market.

Looking ahead to 2026: accelerating in the US and France

Les Deux does not plan to slow down and is forecasting further double-digit growth for 2026, with a pre-tax profit target of between 10 and 11.4 million euros.

Starting with the autumn/winter 2026 collection, the brand will nearly double its presence at Nordstrom in the US, increasing from 15 to 25 points-of-sale. In France, the network will expand with 15 new locations, including leading retailers like Hors Série in Rouen. This confirms the appeal of the Danish ‘preppy-streetwear’ style to premium retailers.

Founded in 2011 in a Copenhagen basement with a few white T-shirts, Les Deux is now present on five continents and distributed by major players such as Galeries Lafayette, KaDeWe and Selfridges.

Meta plans to cut a tenth of its workforce, looking for productivity gains from its remaining workers as it invests heavily in artificial intelligence.

Meta will lay off about 8,000 employees and leave thousands of other positions unfilled next month, a source told AFP.

The move comes as co-founder and chief executive Mark Zuckerberg makes a priority of delivering "superintelligence" in a costly AI race against rivals including Amazon, Google, Microsoft and OpenAI.

Reports on Thursday also indicated that Microsoft is looking to trim its ranks with voluntary buyouts of some US employees in an unprecedented move by the tech stalwart founded in 1975.

About seven percent of US employees at Microsoft were reported to be eligible for an offer aimed at workers senior director level or lower whose years of employment and age add up to 70 or more, according to a CNBC report.

Microsoft, which has also been pouring billions of dollars into AI, did not respond to a request for comment.

Meta and Microsoft are both set to report quarterly earnings next week.

Meta in January reported quarterly earnings that topped market expectations, as revenue grew along with investments in AI.

Meanwhile costs tallied 35.15 billion dollars, an increase of 40 percent from the same period a year earlier, the earnings reported noted.

Capital expenses, including infrastructure such as data centers to power AI, were 22.14 billion dollars in the quarter, according to the company.

Meta anticipated capital expenditures in the 115 billion to 135 billion dollars range this fiscal year, driven by increased investment in Meta Superintelligence Labs and its core business.

"I'm looking forward to advancing personal superintelligence for people around the world in 2026," Zuckerberg said on an earnings call.

Meta is locked in a bitter rivalry with other tech behemoths racing to invest heavily in AI, aiming to ensure the technology generates profits in the not-so-distant future.

Most analysts believe Meta will make the investment pay off by improving advertising efficiency and creating new opportunities, such as with its smart glasses through a partnership with Ray-Ban maker EssilorLuxottica.

Düsseldorf-based e-commerce group The Platform Group SE & Co. KGaA experienced strong growth in the 2025 financial year.

On Wednesday, the company announced that sales last year reached 728.1 million euros, an increase of 38.8 percent compared to 2024. Gross merchandise volume (GMV) increased by 44.3 percent to approximately 1.30 billion euros. The company attributed the strong growth to “continued positive business development, strong organic growth and scheduled acquisitions”.

Net profit increases by 42 percent

Earnings also rose, thanks to the increase in sales and the “full impact of the implemented cost and efficiency programme”. Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special effects, amounted to 55.0 million euros, exceeding the previous year's level by 65.3 percent. Reported net profit increased by 42.1 percent to 46.5 million euros.

CEO Dominik Benner was pleased with the results. “We fully achieved our goals in 2025,” he emphasised in a statement. “The organic growth of our platforms was consistently strong, which enabled us to successfully detach ourselves from the generally weak industry development in retail. The fact that our adjusted EBITDA grew significantly faster than sales demonstrates the high scalability of our software solutions.” The group has also strengthened its “profitability and balance sheet quality” through “strict capital allocation”.

Management confirms annual forecasts

The company also confirmed its current forecasts for the current financial year, which were published in January. Management therefore continues to expect a GMV of 1.7 billion euros, net sales of 1.0 billion euros and an adjusted EBITDA in the range of 70 to 80 million euros for 2026.

The planned acquisition of the pharmaceutical platform AEP GmbH is not yet included. The forecast will be adjusted accordingly after the transaction is completed. The group currently still expects a pro forma GMV of 3.2 billion euros, annual sales of 2.0 billion euros and an adjusted EBITDA of between 90 and 100 million euros, including the contributions of the designated new addition.

Germany's largest container shipping line, Hapag-Lloyd, currently sees no option to guide its commercial vessels through the Strait of Hormuz, where they are currently stuck in the Persian Gulf. There is currently no possibility of passage and the company is awaiting an opportunity, said chief executive officer Rolf Habben Jansen. He did not provide further details. According to previous company statements, six of the shipping line's commercial vessels were stuck in the Gulf.

Jansen said the conflict in Iran is causing additional weekly costs of around 50 million US dollars. He attributed this to increased fuel prices. Hapag-Lloyd is charging customers surcharges to cover the additional costs. There is “good acceptance” from customers for the surcharges, Jansen said.

In March, it was reported that the Hapag-Lloyd container vessel Source Blessing was hit by shrapnel while in the Gulf. A fire broke out, which the crew extinguished.

The Strait of Hormuz is not safe to navigate because Iran is threatening free passage in the strait, which is located south of the country. Traffic has therefore largely come to a standstill. According to experts, Iran's actions violate international maritime law.

On Wednesday, it was announced that Iran's armed forces had attacked three cargo ships off their coast, rendering them unable to manoeuvre. According to their own statements, two vessels were seized. Among them was the MSC Francesca, belonging to the Swiss container shipping line Mediterranean Shipping Company.

Opinion

Today, the fashion industry remembers Rana Plaza.

It should.

On 24 April 2013, 1,134 people were killed in the deadliest disaster the garment industry has ever seen. Rana Plaza was not simply a building collapse. It was a moral collapse across global supply chains, exposing what happens when speed, low cost and distance from risk are allowed to define the system.

I write this as a manufacturer in Bangladesh, and as someone who has watched the industry here change from the inside.

And that change has been far more significant than the global narrative suggests.

Rana Plaza forced a reckoning. It exposed failures in safety, governance and sourcing culture. It also made one thing clear: if Bangladesh was going to remain central to global fashion, trust would have to be rebuilt through real, measurable change.

More than a decade later, there is another truth we must confront.

Resilience isn’t built by avoiding failure, it’s built by being forced to fix it, publicly, repeatedly, and at scale.

That is what the past decade has been about. Not perfection. Not completion. But sustained, visible change under scrutiny.

Since 2013, just under 4,000 export-oriented factories in Bangladesh have been inspected through joint national and international safety programmes. The Accord brought a level of scrutiny and enforceable remediation the sector had never seen before. By October 2018, more than 122,000 safety violations had been identified across covered factories, with around 90% confirmed as remediated.

That scale of response is still too often overlooked. It did not happen by accident. It happened because regulation, buyer pressure, public scrutiny and enforceable mechanisms changed the operating environment.

And yet, the narrative has not kept pace with that reality.

A decade of reform in Bangladesh's apparel sector

That regulatory trajectory is still evolving. Labour governance frameworks have continued to develop, with ongoing reforms aimed at strengthening worker protections, representation, and enforcement capacity. Progress is not linear, but it is visible.

The same is true environmentally. Bangladesh is now home to the most LEED-certified green factories globally, including over half of the world’s top 100 highest-rated green factories. That is not a symbolic achievement. It reflects years of capital investment in water efficiency, energy systems, waste handling, factory design and operational discipline.It also reflects a broader shift in mindset.

In the strongest factories, sustainability is no longer treated as a reporting requirement for buyers. It is increasingly part of industrial strategy.

The biggest shift is not only in safety or sustainability. It is in manufacturing maturity.

Too often, Bangladesh is still discussed as a low-cost sourcing market with a tragic past. That framing is no longer sufficient.

Bangladesh remains one the second largest apparel exporter. The industry did not improve by becoming peripheral. It improved while remaining central to global supply chains. The strongest factories here are no longer competing on price alone. They are competing on control, consistency, technical capability and resilience. They are being judged on whether they can meet a more demanding standard of supply chain partnership.

That matters now because sourcing is changing and perception plays a direct role in where that sourcing goes.

Regulatory developments in Europe, including the evolving Corporate Sustainability Due Diligence Directive, are increasing expectations on how companies identify, manage and disclose risks in their supply chains.

The direction is clear. Visibility, accountability and risk management are becoming central to sourcing decisions.Bangladesh’s strongest factories are better positioned for that shift than the country’s reputation would suggest.

At Harnest, I see that first-hand. Customers increasingly want evidence of control, accountability and operational discipline, not just capacity and cost. That is a very different conversation from the one Bangladesh was having a decade ago.

None of this means the industry has solved its problems.

It has not.

Wages remain a critical issue relative to living costs. Progress on labour standards cannot be separated from purchasing practices. Suppliers cannot be expected to absorb the cost of higher standards while margins continue to be compressed.

Progress has also been uneven. The formal, export-facing segment of the sector has advanced the most. Smaller subcontracting units and informal workplaces still carry risk. The top tier has changed significantly, but that standard is not yet universal.

So Bangladesh does not need a simplified success story. It needs an honest one.

Rana Plaza should never be softened or forgotten. The point is not to replace tragedy with complacency. The point is to recognise that Bangladesh is responding to that trauma through one of the most intensive reform efforts the apparel industry has seen anywhere. Safety systems are improving. Environmental performance is improving. Regulation is being strengthened, governance is evolving, and investment is growing. And some of the strongest factories in this country are helping define what the future of fashion supply chains can look like.

To argue that Bangladesh is still frozen in 2013 is no longer a fair assessment and it overlooks more than a decade of visible industrial change.

From where I stand, Rana Plaza’s legacy should not be a permanent stigma attached to Bangladesh. It should be proof that an industry under pressure can change, and that when regulation, investment and accountability come together, manufacturing can become safer, more modern and more responsible.

Bangladesh has changed. The narrative has not.

The real question is whether sourcing decisions are ready to catch up.

France's ambitious ‘anti-fast-fashion law’ (Loi Violland) is in limbo. Although the French Senate approved the law in 2025, the European Commission (EC), which had already raised objections last September, vetoed it again in April. Brussels argues that the law disrupts the principles of the European single market and is discriminatory, as stated in public file 2025/0336 on the EC's website. France must suspend the adoption of the law until at least the end of 2026.

E-commerce directive and DSA

The main stumbling block for the Commission is the conflict with the e-commerce directive and the Digital Services Act (DSA). The e-commerce directive (2000/31/EC) operates on the country-of-origin principle. This means that service providers, including e-commerce sites, are only subject to the regulations of the member state where they are established, not those of the country where the consumer resides. By attempting to ban advertisements from companies like Shein (whose headquarters are in Ireland), France is imposing its own national rules on a business that officially falls under Irish law.

The DSA is a set of European regulations designed to combat illegal online content uniformly across the EU to protect consumers. France proposes a specific approach where e-commerce sites must display additional information next to the price, including a warning about the fast-fashion nature and the origin of the products. The Commission states that the DSA was created to reduce administrative burdens and fears that more member states will introduce similar national rules.

Finally, the European Commission has reservations about the planned penalty for brands like Shein, which would increase from 5 to 10 euros per garment by 2030. The opposition specifically targets the tax on small parcels (‘les petits colis’), which has been added as an extra component to the law. Brussels fears this French levy will interfere with the planned EU-wide customs reforms of 2028.

Future of the ‘Loi Violland’

To save the law, environmental organisation Refashion was tasked with formulating objective criteria for ultra-fast fashion based on production volumes and sustainability efforts. The yet-to-be-published outcome of this research is crucial for the Commission's next steps.

The future of the ‘Loi Violland’ now lies with a conciliation committee (CMP), which must reconcile French ambitions with the demands from Brussels. It is likely that components such as the advertising ban and the tax on small parcels will have to be scrapped to gain European approval. The fashion sector remains in uncertainty for now, while the political ‘telenovela’ – as the battle on LinkedIn is now being called – between Paris and Brussels continues.

“This law needs approval from Brussels,” states Baptiste Carriere-Pradal, an expert at 2B Policy, on LinkedIn. He sees opportunities for France to amend the original bill to meet the EC's requirements. For instance, the system of penalising 'bad' producers and rewarding 'good' ones could be removed. “For now, however, France and the European Commission are not on the same page.”

Zalando is consolidating its partner models and, in line with this, is discontinuing its Connected Retail programme.

The Berlin-based e-commerce company confirmed the move to FashionUnited, following an initial report by trade publication Schuhkurier. The Connected Retail technology is set to be discontinued by June 30, 2027.

In a statement provided to FashionUnited, the company said it wants to offer its partners “a holistic experience” and access to its “most advanced technologies”. It is therefore consolidating its partner models. The company is inviting retailers and brands currently connected to Zalando via the Connected Retail programme to switch to the other programme.

“We are not saying goodbye to brick and mortar stores; we are simply updating the technology they use to connect with us. This move optimises operations, provides enhanced data insights and allows partners to continue fulfilling orders directly from their stores, while scaling their business across our 27 European markets,” the Berlin-based company stated.

Zalando adjusts fees

The fee structure will also be adjusted as part of this change. From September 2026, the same standard marketplace service fees will apply to all partners. To support partners through this transition, Zalando is offering retailers a fee reduction of two percentage points until the end of 2027. Additionally, all partners who “switch early” will receive a further reduction of one percentage point for six months.

Partners who wish to continue working with Zalando must agree to this consolidated fee structure by May 15. Otherwise, the partnership will be terminated “amicably” by the end of August.

Canton - In the heat of a vast wholesale market in southern China, surrounded by clothing and footwear, traders are hoping that Donald Trump's announced visit will ease the American tariffs penalising their exports.

Manufacturers and factories in Guangdong province, the country's manufacturing heartland, have borne the full brunt of the White House occupant's customs duties in recent years.

The global trade war launched by Trump in 2025 after his return to power had resulted in exorbitant surcharges on certain Chinese products of up to 145 percent.

A one-year truce on most tariffs was agreed in October between the American president and his Chinese counterpart Xi Jinping. However, for sellers at the Canton market, orders have dried up.

"It's quite noticeable. American customers have almost disappeared," says Zhou Hua, sales manager at "1988", a jeans manufacturer.

Guangdong province accounted for approximately one fifth of Chinese foreign trade last year, totalling 9,490 billion yuan, according to Chinese Customs.

The White House announced that Trump would travel to China on May 14 and 15 after a postponement of several weeks due to the war in the Middle East. Beijing has not confirmed these dates.

Zhou hopes this visit will lead to a reduction in customs duties and revive demand for his jeans.

The United States accounts for only around 10 percent of exports from "1988", which sells primarily in China and elsewhere worldwide. Yet they remain a fashion hub and therefore a strategic market, where being present and visible can lead to new contracts.

"We don't want to put all our eggs in one basket," explains Zhou.

The US Supreme Court overturned a large portion of the global tariffs decreed by Trump in February.

He subsequently imposed a new universal 10 percent surcharge, valid for 150 days, which also applies to Chinese products.

Hopes for peace

According to Guo Tao, the owner of "1988", Trump's visit will help "break the ice".

"When two countries engage in a tariff war, everyone loses. There are no winners," he says.

He is also concerned about rising raw material costs, fuelled by the war in the Middle East.

"As traders, all we want is a prosperous economy, a stable country and world peace."

In the aisles of the wholesale market, Chinese and foreign buyers haggle. Nearby, stand managers promote their products live on the internet in front of their smartphone screens.

A handbag seller, Ms Zhuang, explains that her small shop is not directly affected by American tariffs. She "clearly" feels the repercussions, however, as Chinese customers are more budget-conscious.

"As for my expectations" regarding the American president's visit, "I have none," she states bluntly, considering Trump "untrustworthy".

In another Canton wholesale market, pink streamers and disco balls hang from the ceiling of Wen Linpeng's shop, which sells coloured soaps, perfumes and makeup products.

His business is not focused on the United States, yet he hopes Trump's trip will foster cooperation between the two countries.

China will welcome the American president with open arms if he is "truly sincere", he predicts.

"If he's not friendly, if he demands concessions from China or forces our hand on something, we'll give him a taste of his own medicine," he warns.

"But if he's willing to cooperate, we'll be delighted to work with him."

EssilorLuxottica on Wednesday announced that consolidated revenue for the first quarter of 2026 reached 7,127 million euros, representing a year-on-year increase of 10.8 percent at constant exchange rates compared to 6,848 million euros in the first quarter of 2025.

Revenue grew 4.1 percent at current exchange rates.

Professional Solutions recorded revenue of 3,362 million euros, up 10.8 percent compared to the first quarter of 2025, while Direct to Consumer recorded revenue of Euro 3,764 million, up 10.7 percent.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica, commented: "With the third consecutive quarter of double-digit growth, we once again demonstrate the strength and relevance of our strategy and our ability to deliver against it. We continued to drive robust momentum across all regions and businesses, driven by the enduring solidity of our vision care and eyewear activities and a steady pipeline of innovation."

Looking forward, the company said that over the next five years, it is planning to deliver a solid growth of its total revenue and a broadly aligned growth of the adjusted operating profit.

UK online retailer Asos has announced its interim results for the 26 weeks to March 1, 2026, revealing a 14 percent drop in first-half revenue to 1.12 billion pounds and a 137.9 million pounds statutory loss before tax despite a significant 51 percent increase in adjusted EBITDA.

The report highlights a period of structural recalibration, where improved profit margins and customer acquisition strategies have begun to offset a decline in overall gross merchandise value (GMV).

Resilience against external pressures and outlook

The group faced 7 million pounds in costs related to the International Emergency Economic Powers Act (IEEPA) tariffs in the US. Despite this, management noted that swift mitigation strategies protected service levels in the region. Asos has initiated a process to pursue refund claims regarding these tariffs.

Operational agility was also tested by the conflict in the Middle East. The group utilised increased near-shore supply and a flexible logistics network to mitigate inflationary impacts and supply chain disruptions.

The group has maintained its FY26 guidance, expecting AEBITDA between 150 million pounds and 180 million pounds. Gross margin is projected to improve by at least 100 basis points, reaching a range of 48 percent to 50 percent. Management indicated that current trading in the third quarter (Q3) shows further sequential improvement. The womenswear business has entered positive YoY growth, and recent collaborations, such as the third drop with German sportswear brand Adidas, have delivered record performance.

Asos GMV declines by 9 percent

The group reported a 9 percent year-over-year (YoY) decline in GMV, though underlying data suggests a recovery is underway. The UK market outperformed the broader group with a 5 percent decline in GMV YoY, while the womenswear division saw its GMV growth rate improve by approximately 10 percentage points compared to the second half of the 2025 financial year (FY25).

Adjusted gross margin rose by 330 basis points YoY, marking eight consecutive quarters of improvement. Additionally, profit per order increased by 30 percent YoY, driven by more rigorous cost management and a transparent returns policy that improved the underlying returns rate by 160 basis points.

For the first time since September 2021, Asos recorded positive growth in new customers. In March 2026, new customer acquisition rose by 9 percent for the group. In the UK specifically, new customers increased by approximately 10 percent YoY. The customer database has also shown signs of stabilisation, with churn reducing by 150 basis points during the first half (H1).

The European textile and clothing industry contracted for the third consecutive year in the 2025 financial year, according to the annual report from industry association Euratex. The report documents a continued decline in production, employment and confidence within the sector.

The report shows that production volumes fell further in 2025. Textile production decreased by 1.6 percent, while clothing production showed a sharper decline of 4.5 percent compared to the previous year. In the fourth quarter, sales stabilised somewhat compared to the third quarter. However, on a year-over-year basis, there was still a decline of 1.1 percent for textiles and 1.9 percent for clothing. The largest declines in textile production were recorded in Spain at 17 percent; Croatia at 8.3 percent; and Germany at 7 percent.

Imports decrease as trade deficit narrows

In international trade, the European Union's trade deficit decreased, meaning the gap between imports and exports narrowed. In the fourth quarter, imports from non-EU countries fell by 8.1 percent in value. This was linked to lower energy prices and weak domestic demand. Imports of textiles and clothing from outside the EU fell by 11 percent and 7.2 percent respectively, between October and December.

Employment shrinks amid national differences

The downward trend also continues in employment. In the fourth quarter of 2025, the number of jobs in the textile sector fell by 4.8 percent and in the clothing sector by 1 percent year-over-year. Compared to the pre-pandemic period, employment has decreased by 14 percent in textiles and 16 percent in clothing. According to Euratex, factories in Europe are closing weekly.

The development varies by country. In the clothing sector, employment increased in Spain by 28 percent; the Czech Republic by 11 percent; and Denmark by 6 percent. Meanwhile, countries including Croatia, Poland and Lithuania saw declines.

Confidence falls due to lack of new orders

Confidence within the sector remains low. In March 2026, the confidence indicator fell by 2.7 points in the textile sector and by 0.9 points in the clothing sector compared to the previous month. According to Euratex, companies have too few new orders and the production outlook is worsening. The organisation is calling on the European Commission and member states to take measures before the end of 2026, including lowering energy costs and reducing regulatory pressure.

The Norwegian company Helly Hansen has relocated its Southern European headquarters to the centre of Barcelona, establishing a new base on Paseo de Gracia. Previously, the company operated from Sant Quirze del Vallès, on the city's outskirts.

According to a report by the trade publication Turiski, the move is part of a new phase of consolidation in Southern Europe. This relocation responds to the growth recorded in the region in recent years, where it has reportedly doubled its profits. It is also part of its expansion strategy in the Mediterranean and Spanish-speaking markets, under the ownership of the US group Kontoor Brands since 2025.

The new offices will centralise the marketing, sales, customer operations and retail departments for the Spanish, French, Italian, Portuguese and Andorran markets. Through this reorganisation, the company aims to improve internal coordination and strengthen relationships with its commercial partners in Southern Europe.

Carlos Bravo, the regional director, highlighted in a conversation with the trade publication that this new headquarters represents a boost to its commitment to the multi-brand distribution network. It also supports the company's expansion in the Mediterranean region.

The new space also incorporates a showroom for presenting the Helly Hansen, HH Workwear and Musto collections, with the capacity to host more than 150 clients annually. The company was acquired by Kontoor Brands in a deal valued at 900 million dollars in 2025. It has successfully boosted the US group's turnover since the acquisition and now aims to further strengthen its position as a technical leader in the sailing and mountain sectors.

Under Armour has joined the US Cotton Trust Protocol, taking a step forward in efforts to improve transparency and responsibility in cotton sourcing.

Through the membership, the sportswear brand will gain access to verified, field-level data on key environmental metrics, including water use, greenhouse gas emissions, soil health and land use. The move supports the brand’s wider sustainability strategy and its commitment to sourcing materials more responsibly.

As part of the partnership, Under Armour will begin piloting cotton sourced through the programme later this year. The material will be used in graphic T-shirts within its Freedom collection.

Aaron Driggers, director of sustainability at Under Armour, said: “Where and how our cotton is grown matters. We are thrilled to join the US Cotton Trust Protocol and strengthen our ability to build better products for athletes while advancing transparency across our supply chain.”

The Trust Protocol is a voluntary programme that provides measurable and verifiable data on US cotton production, helping brands track progress and validate improvements across sustainability indicators.

Gary Adams, president of the organisation, said the partnership aligns with Under Armour’s focus on performance and innovation, while also supporting more responsible sourcing practices across the industry.

US-based smart eyewear developer Innovative Eyewear has announced preliminary unaudited sales results for the first quarter ended March 31, 2026. The company, which manufactures products under the Lucyd, Reebok, Nautica, and Eddie Bauer brands, achieved preliminary first quarter (Q1) sales of approximately 0.81 million dollars. This figure represents an increase of 78 percent compared to Q1 2025, marking the highest first-quarter revenue in the history of the company.

This performance extends the streak of year-over-year (YoY) quarterly revenue growth for the company to 11 consecutive quarters. The growth rate for Q1 2026 also indicates an acceleration from the full-year 2025 growth rate of approximately 63 percent.

Innovative Eyewear chief executive officer Harrison Gross stated that the results represent the strongest start to any year in the history of the company. “Whilst these results remain subject to audit, we are highly encouraged by the preliminary Q1 2026 sales performance and by the commercial pipeline we are seeing in our optical, safety, and sporting goods channels,” Gross said. He highlighted that demand for workforce connectivity solutions remains a primary driver for the business.

Market expansion and product recognition

Lucyd Armor, the most popular product line for the group, recently received the 2026 Red Dot Design Award and the NHPA Retailer’s Choice Award. Market analysis indicates that Lucyd Armor holds approximately 44 percent market share of smart safety glasses on Amazon.

Innovative Eyewear management stated that the product remains the only smart safety glass on the platform with full safety certification in the US, Canada, and the European Union. The company has focused on building a diverse product mix and international footprint to maintain its position as a value leader in the smart eyewear sector.

To bolster its direct-to-consumer (D2C) growth, the company is in negotiations with several retailers to introduce Lucyd Armor and Reebok products into brick and mortar stores across the US and Canada throughout 2026. Target partners include big box stores, traditional optical chains, and hardware and automotive retailers.

Industrial partnerships and white label opportunities

Several industrial and logistics companies are currently testing Lucyd products for workforce use; these firms include DHL, Do It Best / True Value, and Thermo King. Additionally, the company launched a white label offering at the most recent Vision Expo trade show.

The white label service allows retailers and legacy eyewear brands to introduce smart products in partnership with Innovative Eyewear. The company confirmed it has already secured an affirmative commitment for a white label line of smart safety glasses.

Preliminary results also indicate improved gross margins for the period. The Q1 2026 gross profit margins showed a significant increase over full-year 2025 margins, which the company attributed to effective tariff mitigation actions.

The company continues to focus on its mission to ‘Upgrade Your Eyewear’ through Bluetooth and ChatGPT enabled frames. These products are offered in hundreds of combinations to serve the sunglasses, sporting goods, and safety eyewear markets.

Paris, France – April 22, 2026 (AFP) – Ski equipment manufacturer Rossignol has improved its sales for the 2025/2026 season, following two difficult winters. The brand announced on Wednesday that the increase was due to strong visitor numbers at ski resorts.

For its financial year ending March 31, the French group achieved a turnover of 346 million euros (406 million dollars), compared to 342 million euros at the same time last year.

Excluding currency effects, sales increased by more than 4 percent year-over-year. The weakening of the dollar particularly impacts Rossignol's accounts, as one-third of its sales are generated in North America.

This increase marks a break from the trend of declining turnover in recent years, although it remains below the historic record of 2022-2023.

Rossignol states that it benefited from a snowy winter in Europe this year. The average occupancy rate at ski resorts was strong, reaching 73 percent for the season in France, for example.

The group generates three-quarters of its sales from ski equipment. Bindings are manufactured in Nevers (Nièvre), France and skis are primarily produced in northern Spain.

Faced with increasingly unstable winter snowfall due to climate change, the brand aims to reduce its dependence on winter.

It now wishes to focus on trail running, a discipline where "the number of participants is exploding," explained the group's head, Vincent Wauters, during a press conference on Wednesday.

The group develops trail and hiking clothing and footwear in Italy and manufactures them mainly in Asia.

In total, its textile division now accounts for around 25 percent of its turnover and 35 percent in France. Vincent Wauters expects this figure to rise to 50 percent within a few years.

This growth is part of a broader trend of adopting technical apparel for urban wear, driven by the huge success of competitors like Salomon.

Unlike other brands, however, Rossignol formally rules out creating dedicated lines to attract these new consumers.

Keen not to "dilute its DNA," Wauters prefers to "aim for performance and let the consumer come."

Footwear label Sperry is continuing its relaunch in Europe through a new partnership with Dubois, which has been appointed as the “regional engine” by the US brand’s parent company Authentic Brands Group.

Following a “high-impact” return to the UK and Ireland markets, Sperry has now set its sights on mainland Europe, specifically the Benelux and DACH regions. Here Dubois, a Belgian distributor which was recently acquired by the UK’s Gardiner Bros, will enact a “seamless rollout”.

Both Gardiner Bros and Dubois will jointly oversee the regional relaunch, with the latter to input local market intelligence while the former will provide its brand-building knowledge.

The official sell-in for the Sperry collection will begin May 1. Authentic is focused on establishing a presence in premium independent retailers and key accounts to retain the label’s aspirational and accessible identity.

This formula has already been applied to Sperry’s products, for which premium executions of staple footwear, such as the Authentic Original boat shoe, are merged with contemporary streetstyle trends in a bid to maintain brand relevance.

Speaking on this latest rollout, Henry Stupp, head of EMEAI at Authentic, said the expansion “marks an important step in our broader European growth strategy”. “Following strong momentum in the UK and Ireland, we’re seeing clear demand for brands that blend heritage with a modern, fashion-forward point of view,” he continued.

US menswear retailer Tailored Brands has announced the confidential submission of a proposed initial public offering (IPO) of its common stock.

The group, which operates as an omnichannel specialty retailer, has not yet determined the number of shares to be offered or the price range for the proposed transaction. The completion of the IPO remains subject to the SEC review process, alongside prevailing market conditions.

Tailored Brands operates a portfolio of well-known menswear banners including Men’s Wearhouse, Jos. A. Bank, Moores and K&G Fashion Superstore. The company provides a range of products spanning suits, formalwear and business casual offerings through its network of brick and mortar stores and e-commerce platforms.

This move marks a significant shift for the Houston-based group as it seeks to re-enter the public equity markets. The retailer has focused on delivering personalised products and services to its customer base, positioning itself as a leader in the North American menswear sector.

Eyewear company Safilo has announced an exclusive agreement with Bollé Brands to acquire Spy+ and Serengeti. The two US brands are active in the sports, outdoor and high-end eyewear segments.

Spy+, an authentic and established brand in the sports and sunglasses sector, will further strengthen Safilo's presence in sports and outdoor distribution channels due to its strong complementarity with Smith.

Serengeti, with decades of history, will be a key asset for the company led by Angelo Trocchia in the high-end eyewear segment.

In 2025, the two brands registered combined sales of approximately 39 million dollars.

The transaction aligns with the Padua-based eyewear company's strategy of selective acquisitions. According to the statement, this is intended to strengthen "the group's presence in high-growth potential segments, contributing to the further enhancement of its portfolio of proprietary brands, which includes Smith, Carrera, Polaroid and Blenders".

The completion of the proposed transaction is subject to the finalisation of consultation procedures with the relevant authorities and customary closing conditions.

Safilo closed 2025 with net sales of 983.4 million euros, up 1.8 percent at constant exchange rates, with a 2.6 percent organic performance.

Moncler Group reported consolidated revenues of 880.6 million euros (1,035 million dollars) for the first three months of 2026, an increase of 12 percent at constant exchange rates (+6 percent at current exchange rates). The board of directors today approved the interim management statement for the first quarter. Last year, the first three months closed at 829 million euros.

“In a global context characterised by conflict and instability, both Moncler and Stone Island have demonstrated strong energy and cultural relevance. These results are not accidental. They reflect a precise approach that enhances what makes our brands unique. This allows them to constantly evolve in both product and experiences,” stated Remo Ruffini, executive chairman of Moncler spa, in a note.

Moncler revenues reach 766.5 million

Regarding the individual brands, Moncler's revenues reached 766.5 million euros, up 12 percent at constant exchange rates (+6 percent at current exchange rates) compared to 721.8 million euros in the first three months of 2025.

The direct-to-consumer channel grew by 14 percent year-over-year, despite continued market volatility and a high comparison base, the management noted. The wholesale channel recorded a 3 percent year-over-year growth, even within the context of an ongoing rationalisation of the distribution network.

Considering the different geographical areas, Moncler recorded a solid brand performance in Asia, growing by 22 percent at constant exchange rates YoY to 433 million euros. This was supported by positive trends, especially in China and Korea. The Americas also performed well, growing by 7 percent YoY. The EMEA region underperformed (-1 percent YoY, amounting to 238.5 million euros), mainly due to still weak tourist flows in the region.

As of March 31, 2026, the Moncler brand's monobrand store network consisted of 295 direct retail stores, unchanged from December 31, 2025.

Stone Island closed Q1 with revenues of 114.1 million

Turning to Stone Island, revenues reached 114.1 million euros, an increase of 11 percent (+6 percent at current exchange rates) compared to 107.3 million euros in the first three months of 2025.

Double-digit growth continued in the direct-to-consumer channel (+17 percent YoY), driven by a positive organic performance in all regions, with the Americas and Asia outperforming the average.

The wholesale channel was up by 4 percent YoY, supported by the excellent reception of the spring/summer 2026 collection.

As of March 31, the Stone Island brand's monobrand store network had 94 direct retail stores, a net reduction of one unit compared to December 31, 2025.

The strategy for the coming months will see the group increasingly focused on its individual brands.

“As a new phase of our journey begins, with Leo Rongone now in the group, our focus is very clear: to remain true to who we are, always looking forward, and keeping the integrity of our brands at the heart of every decision,” said Ruffini.

Finally, today Moncler's shareholders' meeting approved the financial statements for the 2025 financial year, which closed with a net profit of 438.17 million euros. It also resolved to distribute a dividend of 1.4 euros per share.

Furthermore, the meeting approved a new plan to buy back and dispose of treasury shares, up to a maximum amount equal to 10 percent of the capital.

Swiss watch exports contracted by one percent in March to 2.1 billion Swiss francs, driven down by the US market, according to figures published on Tuesday by the Federation of the Swiss Watch Industry (FH).

American market in decline

In March, exports to the US, the largest market for Swiss watchmakers, fell by 1.6 percent compared to the same period last year, the FH stated in a press release.

Conversely, shipments of timepieces to China continued to strengthen, recording an increase of 4.2 percent, while exports to Hong Kong also rose by 0.5 percent.

Shadow of conflict in the Middle East

For now, “the conflict in the Middle East has not yet affected watch exports to the United Arab Emirates,” the region's main market, the FH detailed. It specified that exports to the country grew by 0.7 percent in March. In contrast, figures plummeted for Saudi Arabia, down 16.8 percent, and Qatar, down 24.8 percent.

The Middle East accounts for 10 percent of Swiss watch exports, FH president Yves Bugmann stated last week at the Geneva watch show. According to Bugmann, regional tensions pose “an additional challenge for the watchmaking industry,” compounding uncertainties over US customs duties and Chinese consumer spending. “Everything depends on the direction this conflict takes,” he stressed.

Marked disparities in Europe

Watch exports do not reflect final sales to consumers, but rather the stock levels held by retailers for their boutiques. The industry's biggest names, including Rolex, Patek Philippe, Audemars Piguet and Vacheron Constantin, just concluded a week-long exhibition at the Watches & Wonders trade show on Monday.

In Europe, trends are mixed. Exports to the UK increased by 3.2 percent in March, while they declined by 8.5 percent to Germany and 16.8 percent to Italy.

Exports to France showed a spectacular jump of 72.4 percent. The FH, however, qualified this result, stating that it “does not reflect actual market growth, but rather re-exports to other markets”.

A new cross-industry initiative has been launched by major players in the circular fashion world that have set out to accelerate the adoption and scaling of textile-to-textile (T2T) recycled and next generation fibres.

The UK’s Fashion Pact and Dutch organisation Fashion for Good have come together to introduce the Circular Fibre Collective, an initiative addressing barriers identified in the currently “disconnected” supply and demand landscape for T2T fibres.

The organisations, acting with strategic insight from the Ellen MacArthur Foundation, said factors like fragmented demand, insufficient financing, a lack of well-developed recycling infrastructure and supportive policy frameworks was impeding the widespread adoption of such materials across fashion, requiring a collaborative approach to move forward.

According to a report by the Boston Consulting Group and Fashion for Good, however, up to two million tonnes of associated material could be achieved if fully mobilised across the sector. This, in turn, would help grow the share of these materials in global fibre production from less than 1 percent to 8 percent by 2030.

Through the collective, the organisations are providing a framework for brands and suppliers to facilitate voluntary forms of demand and create space for investment and supportive policies, striving for the mission of instilling more confidence in innovators, suppliers, and financiers to scale and invest in circular fibre solutions.

Two pillars form the collective’s framework. ‘Adoption enablers’, overseen by The Fashion Pact, zooms in on building voluntary forms of aggregated demand and supporting non-binding commitments.

‘Practical adoption tools’, meanwhile, intend to help brands overcome commercial barriers to adoption. These will include Fashion for Good’s Fibre Club and Toolkit, each pushing for commercialisation.

US Customs and Border Protection (CBP) has launched the first phase of its new refund system for duties collected under the International Emergency Economic Powers Act (IEEPA), introducing the Consolidated Administration and Processing of Entries (CAPE) tool.

Now live via the Automated Commercial Environment (ACE) portal, CAPE allows importers and authorised brokers to submit refund claims through a single consolidated process, rather than on an entry-by-entry basis. The update follows recent court rulings directing CBP to remove IEEPA-related duties from certain imports and issue refunds.

The refunds relate to tariffs previously applied under IEEPA, which were introduced as part of broader US trade measures by President Donald Trump. Following legal challenges, courts ruled that certain duties should no longer apply, requiring CBP to reverse charges and return funds to importers, prompting the need for a more efficient, large-scale refund system.

Phase one of CAPE covers unliquidated entries and entries within 80 days of liquidation. Users submit claims by uploading a file with eligible entry numbers. The system validates the file, processes the submission, and assigns a claim reference. Once approved, CBP recalculates duties as if IEEPA charges were not applied, including interest on refunds.

CBP said the tool is designed to manage what it described as an “unprecedented volume” of refunds, streamlining processing for businesses affected by the duties. The organisation noted that valid claims are expected to be processed within 60 to 90 days, and issued electronically via ACH payments.

Further phases of CAPE are expected to expand functionality, with additional guidance to be released as the system develops.

British footwear brand Clarks has reported a return to the black for the financial year ended December 31, 2025. The Somerset-based company achieved an operating profit of 66.30 million pounds (89.55 million dollars), a significant recovery from the 18.10 million pounds loss recorded during the previous year.

The group attributed this performance to a rigorous focus on streamlining core processes and reducing structural overhead costs. While statutory turnover fell by 3.33 percent to 871.50 million pounds, the business successfully improved its profit before tax to 44.80 million pounds. This marks an 84 million pounds improvement over the prior year-over-year (YoY) loss.

Executive leadership and structural shifts

A pivotal moment in the year was the appointment of interim chief executive officer (CEO) Victor Herrero in June 2025. Under his direction, the brand focused on stabilizing the organization through disciplined cost control and a sharpened focus on product relevance.

Clarks underwent significant restructuring, which included exiting its distribution center in Venlo, the Netherlands, to improve network efficiencies. The company also streamlined its workforce and implemented a new global digital people platform, Dayforce, to manage onboarding and payroll across all regions.

Strategic expansion and product innovation

Despite unfavorable global market conditions, including high tariffs in the US and rising wage inflation, Clarks recorded positive sales achievement in its direct-to-consumer (D2C) channels. E-commerce in the UK and Republic of Ireland (ROI) and outlet stores in the Americas were highlighted as particularly strong performers.

The brand continued to pivot toward the global athleisure trend, launching three new franchises: Clarks Pace, Solevana, and Clarks Code. The company's lifestyle sub-brand Cloudsteppers opened its first standalone stores in the US and Malaysia, with further expansion planned for 2026.

The Asia Pacific (APAC) region proved to be a high-growth market, delivering double-digit sales growth and higher average selling prices compared to Western regions. The company also re-entered the Indian market during the third quarter of the financial year (FY25 Q3) to capture further market share.

In the UK, where the brand celebrated its 200th anniversary, a return to prime-time television advertising helped drive an uplift in market share during the second half of the year. However, wholesale remained challenging in UK and EMEA markets as partners managed inventory cautiously amid weak retail demand.

Financial position and future outlook

Clarks ended the year with a positive cash position of 48.40 million pounds and zero bank borrowings. The group’s financial position was further bolstered by the reclassification of 100 million pounds in preference shares from financial liabilities to equity in December 2025.

As the company moves into 2026, the strategy remains centered on driving sustainable, profitable growth. Key priorities include expanding non-footwear assortments, entering new markets, and identifying further operational efficiencies.

New York City Economic Development Corporation (NYCEDC), in partnership with the Council of Fashion Designers of America (CFDA), has announced the continuation of its Fashion Manufacturing Initiative (FMI) with the launch of a new Local Production Fund, backed by a combined 1.7 million dollar investment.

The fund is designed to support New York City’s garment manufacturing sector by strengthening collaboration between designers and local producers, while driving growth in domestic production orders. Over a two-year period, the programme will provide credits to up to 21 manufacturers, supporting reshored production for as many as 43 designers across up to three seasons.

The initiative builds on the original FMI, launched in 2013 to modernise facilities, support workforce development and reinforce the city’s manufacturing base. Since its inception, the programme has invested 6.7 million dollars across more than 220 grants, impacting over 3,700 workers.

Jeanny Pak, interim president and CEO of NYCEDC, said: “Building on that growth, NYCEDC is proud to continue our partnership with CFDA through the new Local Production Fund, which will deepen collaboration between local designers and manufacturers, helping to drive production and ensure this vital industry continues to thrive in New York City.”

CFDA president Steven Kolb added: “At the CFDA, we are committed to supporting American designers not just creatively, but in building strong, sustainable businesses, and the Local Production Fund is a critical step in helping them access local manufacturing, build lasting partnerships, and grow within New York City.”

The programme has received early support from industry partners including the American Apparel & Footwear Association (AAFA) and retail executive Andrew Rosen, who said: “The Fashion Manufacturing Initiative, and now the Local Production Fund, is investing in and supporting this vital ecosystem. I'm excited and proud to be part of the continuation of such an important mission—one that helps ensure garment manufacturing in New York City continues to thrive.”

The launch also aligns with broader city efforts to support the Garment District through initiatives such as Midtown Made, which aims to connect businesses with resources and promote local production. In regards to the latest Local Production Fund, applications for manufacturers open on April 20, 2026, with designer applications following on June 23.

Consumer prices (March)

Clothing and footwear prices in Canada fell 0.42 percent year-on-year in March, according to Statistics Canada (StatCan), even as headline inflation rose plus 2.39 percent. The 2.81 percentage-point gap between fashion prices and the overall consumer basket is structurally unusual for an OECD economy — Canadian clothing is now in outright deflation while the economy at large continues to experience mild inflation. March marks the month the fashion basket crossed from inflation into deflation: year-on-year clothing and footwear inflation had printed plus 0.77 percent in January and plus 0.86 percent in February before flipping to minus 0.42 percent in March, a 1.28 percentage-point swing in a single month. The month-on-month index still rose 0.32 percent from February to March, but that small seasonal gain was dwarfed by the base-effect drop-off versus March 2025, when clothing prices had peaked at an index level of 94.4 — a reading March 2026 (94.0) has yet to match.

Sub-category divergence (March)

Within the fashion basket, the deflation is broad-based across adult clothing: women’s clothing prices fell 2.71 percent year-on-year, men’s clothing fell 2.92 percent, and footwear posted the steepest decline at minus 3.04 percent. The one exception is children’s clothing, which rose plus 3.06 percent year-on-year — a contrarian signal that likely reflects supply-side dynamics specific to the children’s category (such as tariff pass-through from China-sourced goods where Canadian retailers have less pricing flexibility) rather than any broader demand theme.

Retail sales (January — latest available)

Real retail sales volumes at Canadian clothing and clothing accessories retailers rose approximately 4.2 percent year-on-year in January, according to StatCan’s Monthly Retail Trade Survey — nominal sales rose 5.00 percent against a clothing CPI gain of 0.77 percent in the same month. The broader clothing, accessories, shoes, jewellery, luggage and leather-goods retail category grew even faster in real terms at about plus 5.3 percent, nominal up 4.24 percent against a clothing-and-footwear CPI of minus 1.04 percent. Shoe retailers were the exception, contracting 2.01 percent in nominal terms and approximately 1.1 percent in real terms. The data show Canadian consumers buying more apparel even as prices fall — a healthier volume-led growth pattern than the nominal numbers alone suggest. StatCan’s advance estimate, published inside the January release, pointed to total retail sales up 0.9 percent in February; the full February retail trade data — including the clothing retailers breakdown — publishes 24 April. March data follows in late May.

Macro context (March)

The Canadian dollar averaged 1.3717 per US dollar on the Bank of Canada (BoC)’s daily reference rate in March, depreciating 0.49 percent from 1.3651 in February. The range through the month (1.3567 to 1.3939) reflected moderate volatility but no directional break; today the rate sits at 1.3660, essentially flat versus the March average. BoC held the target for the overnight rate at 2.25 percent for the fourth consecutive decision, confirming the pause cycle that began at the start of 2026. For Canadian fashion retailers sourcing apparel and fabric from Asia and the United States, the stable Canadian dollar and stable rate environment represent a benign import-cost backdrop. Combined with the ongoing price deflation in the retail-facing clothing basket, the March reading suggests Canadian consumers are benefiting from a rare combination of easier real wages (thanks to falling apparel costs) and stable credit conditions.

The bottom line: Canadian fashion retail is in an unusual and largely positive configuration in March 2026: consumer-level prices are falling — providing the strongest apparel deflation in any OECD country Fashion pulse tracks — while real retail volumes are growing at roughly 4 to 5 percent. The combination is clearest in clothing and clothing accessories retailers, where volume-led growth is comfortably running ahead of price effects. For international brands considering Canadian market entry or expansion, the data support a thesis that Canadian consumers are shopping for value in a deflating category — a dynamic that favours mid-market and value positioning over premium.

Note: this article combines the most recent official data available at the time of writing. Reporting lags differ by indicator and country, so not all figures refer to the same month. Each data point is labelled with its reference period.

QVC Group, the US parent company of TV and social shopping firm QVC, has filed for bankruptcy after entering into a restructuring support agreement (RSA) with shareholders that hold a significant majority of its outstanding funded debt.

The deal includes a prepackaged financial restructuring plan designed with the intention of reducing debt and strengthening the company’s financial position as part of its ‘Win Growth Strategy’.

In order to move forward with this plan, the company and certain US subsidiaries, including QVC, Inc., have commenced voluntary Chapter 11 proceedings in the US Bankruptcy Court for the Southern District of Texas.

The RSA will allow the group’s debt to reduce from approximately 6.6 billion dollars to 1.3 billion dollars as it emerges as a newly deleveraged company, Reorganised QVC, Inc. The company is expecting to emerge from the financial restructuring within 90 days.

The group said its brands, including all channels and platforms for QVC, HSN, and Cornerstone Brands, will continue to operate as usual supported by “ample liquidity”. Vendor, supplier and unsecured creditor payments will be made possible via the RSA.

QVC Group’s international operations, including its customer-facing operations in the UK, Germany, Japan, and Italy, are not included in the process, and will remain operational.

QVC further confirmed that no layoffs of furloughs were planned in connection with the financial restructuring. Employees are expected to continue receiving wages and benefits uninterrupted.

The company said it would continue to focus on rolling out its three-year Win Growth Strategy, which has focused on pivoting the business towards emerging forms of video shopping, namely via social media and streaming platforms such as TikTok Shop, where QVC has become a top seller in the US.

The shift came as a response to the structural decline of traditional cable television, which had historically served at the foundation of QVC’s business model. As a result, the group has repositioned as a live social shopping firm, a strategy it says has already shown measurable results as customer numbers grow across new shopping formats.

The group has further consolidated its HSN and QVC operations, struck new deals with social and media partners, and rebalanced sourcing to account for the changing tariff environment, its president and CEO, David Rawlinson, said.

He further expressed appreciation for support from vendors, business partners, and team members, adding: “This process will allow for QVC Group to have the financial structure it needs to accelerate our return to growth.”

Lululemon is continuing to scale in Mexico where it has now officially launched a dedicated e-commerce channel to enhance customer experience. The site’s debut complements the Canadian company’s further plans to increase its store count in the region during fiscal year 2026.

In a press release, Lululemon confirmed that it is looking to open around 15 new stores across North America, including eight in Mexico. The locations will bring its Mexican store count to 30 by the end of the current fiscal year, responding to a continued growth seen in the market, the company said.

The latest plans build on ongoing strategic investments into the growth and evolution of Lululemon’s omnichannel experience, which has taken shape in both new and elevated stores and enhanced digital capabilities, its SVP and general manager of North America, Carla Anderson, noted.

“The momentum we are driving in Mexico reflects the strength and relevance of our brand within the community and signals the continued opportunity ahead as we build connected, engaging, and consistent experiences for our guests,” Anderson added.

The athleisure brand has already escalated efforts in Mexico through community-centric initiatives aimed at showcasing its regional strategy. In March, the company hosted the Lululemon 10K CDMX 2026 race that brought together 8,000 participants, while an earlier multi-day summit for ambassadors intended to strengthen brand affinity.

Now, the launch of lululemon.mx allows customers in the region to purchase the brand’s apparel, footwear, and accessories online, with a product assortment spanning men’s and women’s offerings.

The non-profit organisation Clean Clothes Campaign has initiated legal proceedings against Levi Strauss & Co. According to the organisation, the denim brand has misled consumers with statements about labour conditions in its supply chain, as stated in a press release. Four consumers are acting as co-claimants in the case.

The lawsuit was prompted by alleged abuses in a Turkish factory that produces exclusively for Levi’s, according to the organisation. In 2023, workers who participated in union protests there were reportedly confronted with intervention from local authorities and were subsequently dismissed. A group of workers has been demanding compensation ever since.

The Clean Clothes Campaign claims that in its communications with consumers, Levi’s has referred to responsible production and respect for labour rights, including freedom of association. The organisation points to findings from the Worker Rights Consortium and the brand's own code of conduct.

The case is supported by the Centre for Research on Multinational Corporations (SOMO), which has provided research. A date for the first hearing has not yet been set.

Increasing scrutiny of sustainability claims in the sector

The lawsuit is part of a broader trend where sustainability and ethical claims by fashion brands are increasingly facing legal and regulatory scrutiny. In 2023, several statements by Primark in the Netherlands were investigated by the Advertising Code Committee. This included communications in stores and on the Dutch website, which focused on themes such as equal opportunities and better conditions for garment workers.

The regulator ruled that several statements were misleading, partly because the claims were not substantiated with sufficient concrete evidence or because it was not made clear that they were future objectives. On appeal, the Board of Appeal upheld this ruling. The board stated that certain claims were “insufficiently substantiated” to assume that the ambitions would be realised in a timely manner.

The case illustrates how communication about sustainability and labour conditions within the fashion sector is being increasingly scrutinised for transparency and substantiation.

Levi’s has been contacted for comment; this article may be updated later.

British travel brand Antler has announced strong financial results for its fiscal year ending February 28, 2026, recording global gross sales of 52 million pounds (70.15 million dollars). The performance represents a 17 percent increase compared to the previous year and marks the fourth consecutive year of double-digit growth for the company. Since the 2023 fiscal year (FY23), the brand has nearly doubled its sales from 27.20 million pounds.

The upward trajectory was supported by robust performance across all primary sales channels. Global digital sales rose by 14 percent year-over-year (YoY), while wholesale revenue grew by 20 percent. This growth in wholesale was bolstered by the expansion of international retail partnerships.

Sustained momentum in global markets

While the UK remains the largest market for Antler with a 17 percent YoY increase in gross sales, the US has emerged as the fastest-growing region. Sales in the US increased by 83 percent during the period, driven by e-commerce performance and expanded wholesale agreements with retailers such as Nordstrom and Bloomingdale's. Since FY23, US sales have grown more than tenfold.

Australia continues to serve as the second-largest market for the brand, delivering 10 percent YoY growth. To further its international footprint, Antler signed new distribution agreements in South Korea, Saudi Arabia, and Malaysia. These moves aim to capture demand for premium travel products across Asia and the Middle East.

Strategic evolution into House of Brands

The London-based company, which is owned by Australian-based group Strandbags, is currently transitioning into a multi-brand entity. Following the acquisition of US travel brand Paravel in August 2025 and the international expansion of Nere, the group is positioning itself as a 'House of Brands' within the global travel and lifestyle category.

Antler chief executive officer, Kirsty Glenne, who was appointed to lead the House of Brands in March 2026, noted that FY26 has been a “defining year”. Glenne stated: “Our fourth consecutive year of double-digital growth reflects the strength of our brand, product and global strategy. The acquisition of Paravel marks an exciting step as we begin to build a house of brands, broadening our reach within the travel lifestyle category, while remaining rooted in our design-led heritage”.

Future retail and revenue targets

The brand opened doors to a flagship store on 100 Regent Street in London on April 21, 2026. Spanning two floors and over 2,400 sq ft, the new store is designed in collaboration with award-winning design agency Checkland Kindleysides. Located within London’s prestigious shopping district, Antler will join other iconic British brands, including Burberry and Mulberry, in its premium retail positioning. The opening also marks the introduction of the Antler Monogram, a new brand code developed from the interlocking geometry of Antler’s icon and brand mark.

Additionally, management is currently scoping new retail opportunities in the US for later this year. These developments are part of a broader strategy that includes a new global headquarters and increased marketing investment.

Looking ahead to the 2027 fiscal year (FY27), the group aims to build on its current momentum. Antler has set a formal revenue target of 100 million pounds by the 2029 fiscal year (FY29) as it continues its evolution into a diversified travel and lifestyle business.

Rome - Italian fashion house Loro Piana, owned by French luxury giant LVMH, announced on Friday the early termination of its judicial administration by the Court of Milan.

“Loro Piana acknowledges the early conclusion of the judicial administration proceedings by the Court of Milan, ahead of the originally scheduled 12-month period,” the Italian cashmere specialist stated in a press release.

According to the brand, the court highlighted the “virtuous approach undertaken and successfully completed” by Loro Piana. This “clearly demonstrates the company's commitment to continuing its efforts” to protect “the health and well-being of all workers, including indirect workers”.

In July 2025, Loro Piana was placed under judicial administration for having “negligently facilitated” the exploitation of workers at subcontractors. According to the court's decision, this was due to a “widespread lack of organisational models and a deficient internal audit system”.

According to investigators, the house, renowned for its cashmere designs, outsourced garment production to a company with no production capacity. This company, in turn, used another company, which then engaged workshops employing Chinese workers in Italy to reduce costs.

In these workshops, undocumented workers were exploited without regard for health and safety legislation, particularly concerning “wages; working hours; breaks and holidays,” the judges stated.

“As soon as the (judicial administration) measure was implemented, Loro Piana strengthened its internal functions dedicated to supplier supervision... The House has also implemented enhanced procedures for supplier integration and continuous monitoring,” the luxury house added.

The Italian brand stated that since 2024, it has conducted “2,400 audits”. These led it to cease collaboration “with more than 100 suppliers and subcontractors who did not meet the House's requirements”.

Other major luxury names have also been temporarily placed under judicial administration in similar cases since 2024. The measure has since been lifted for brands such as Dior (LVMH), an Armani subsidiary and, more recently, Valentino Bags Lab.

Loro Piana, an Italian brand specialising in cashmere, vicuña and extra-fine wool, was acquired by LVMH in 2013.

UK-based diversified group Associated British Foods (ABF) has announced a definitive plan to demerge its retail business, Primark, from its food operations. The decision follows an in-depth strategic review initiated in November 2025 and is intended to be completed before the end of the 2027 calendar year. The demerger is supported by ABF’s largest shareholder, Wittington Investments, which intends to maintain majority ownership of both entities.

The board believes the separation will allow both businesses to be overseen by boards directly aligned with their specific industry dynamics and strategic priorities. ABF chairman Michael McLintock stated that the move is the best way to maximise long-term returns for shareholders, reflecting the current scale of Primark and providing a clearer investment proposition for the food business.

On completion, George Weston will serve as the chief executive officer of FoodCo, which will retain the Associated British Foods plc name, while Eoin Tonge has been appointed as the CEO of Primark.

ABF announces Primark demerger following interim results

The announcement coincided with interim results for the 24 weeks ended February 28, 2026, which showed a challenging first half for the group. Retail segment revenue grew by 2 percent to 4.7 billion pounds (6.35 billion dollars), though adjusted operating profit fell 14 percent at constant currency to 471 million pounds. Primark's adjusted operating margin decreased to 10.1 percent from 12.1 percent in the prior year as the company managed higher markdowns and increased investment in digital and technology initiatives. Like-for-like (LFL) sales declined by 2.7 percent globally during the period.

In the UK, Primark demonstrated resilience in a difficult market, delivering LFL sales growth of 1.3 percent and increasing its market share to 7 percent. This performance was attributed to a re-energised customer proposition, including the ‘Major Finds’ value initiative and the expansion of the nationwide click and collect service. Conversely, trading in continental Europe remained weak with LFL sales declining 5.6 percent, impacted by low consumer confidence and a difficult retail environment, particularly in Germany. The US market remained a growth driver, with sales increasing 12 percent following the opening of five new stores.

At a group level, revenue decreased 2 percent at constant currency to 9.5 billion pounds. Adjusted operating profit declined 18 percent to 691 million pounds, largely due to significant losses in the sugar segment and the expected decline in retail margins. Adjusted earnings per share fell 15.4 percent to 70.7p.

Outlook and impact of Middle Eastern conflict

Looking ahead to the spring/summer 2026 (SS26) season, management reported an encouraging start in March, though trading softened in April as the impact of the Middle East conflict began to affect consumers. The group continues to target "white space" growth of 4 percent to 5 percent per annum through new store rollouts for the foreseeable future. For the full year, ABF maintains its outlook for Primark, with an expected adjusted operating profit margin of approximately 10 percent.

The group is currently managing the impacts of the Middle East conflict, which has caused volatility in energy and freight prices. While Weston noted that the cost consequences for 2026 are expected to be manageable, there remains a risk to Primark sales if consumer spending further deteriorates.

California Attorney General Rob Bonta has released a series of unredacted court documents detailing how US e-commerce giant Amazon allegedly pressured fashion and lifestyle brands to inflate prices across the retail market. The filings, part of an ongoing antitrust lawsuit in the San Francisco Superior Court, implicate major industry names such as Levi Strauss & Company (Levi’s) and Hanesbrands (Hanes) in a systematic effort to prevent competitors from undercutting Amazon’s pricing.

The evidence suggests that Amazon leveraged its dominant market position to monitor prices on rival platforms, including Walmart and Target. When lower prices were detected, Amazon reportedly compelled brands to intervene with those retailers to secure price increases, threatening them with reduced visibility or delisting on the Amazon marketplace if they failed to comply.

“The evidence we've uncovered is clear as day: Amazon is working to make your life more unaffordable. The company is price fixing, colluding with vendors and other retailers to raise costs for Americans beyond what the market requires — beyond what is fair,” said Attorney General Bonta in a statement.

Pressure on apparel leaders Levi’s and Hanes

Newly unsealed communications highlight the specific roles of prominent US apparel firms in these pricing dynamics. In 2021, an Amazon employee reportedly flagged 'styles of concern' to a counterpart at Levi’s, referencing khaki pants priced lower on Walmart.com. Following the exchange, the Levi’s representative confirmed that Walmart had partnered to raise the price of the Easy Khaki Classic fit to 29.99 dollars, describing the move as being in the ‘best interest of the marketplace’.

A similar pattern was observed with US-based basic apparel manufacturer Hanes. Court records show that in 2022, Amazon sent Hanes direct links to lower-priced items on the websites of Target and Walmart. A Hanes employee subsequently confirmed the brand had “reached out to Target and Walmart to have the prices increased” to align with Amazon’s expectations.

Rob Bonta said his office released the new filings Monday to demonstrate how Amazon “coordinates” with vendors and major retailers—including Target, Walmart, Chewy, Best Buy, and Home Depot—to drive price increases across the market.

Strategic implications for fashion executives

The legal challenge, which is set to go to trial in January 2027, poses significant questions for the fashion industry’s distribution strategies. For executives at brands like Levi’s and Hanes, the allegations highlight the risks of maintaining price parity across multiple retail channels under pressure from a dominant platform.

Bonta is currently seeking a preliminary injunction to halt these practices immediately. For the fashion sector, the outcome of this case may redefine the boundaries of wholesale partnerships and digital commerce compliance.

Interview

Lisa Krage is the founder of Swiss Performance Systems and a specialist in performance coaching and corporate health. She develops measurable performance systems for high-performers in demanding positions and for ambitious companies. Her approach is based on scientific stress and performance diagnostics, methods from elite sports, and over a decade of experience in international business environments. Her motto is: health and success are not mutually exclusive; they go hand in hand.

Before going freelance at the end of last year, she held various roles in the sporting goods industry. She first worked for the German group Adidas and most recently as brand communications and athletes lead for Europe, the Middle East and Africa (EMEA) at the Swiss sports brand On. She experienced first-hand what modern leadership demands of the body and what separates the best performers from the burnt-out. She also knows high performance from her own experience as an active competitive track runner.

Today, she combines these two worlds in Swiss Performance Systems. FashionUnited spoke with her about how stress measurably impairs creativity and performance and what tips she would give to leaders in the fashion industry.

You are active in stress diagnostics and performance consulting. what are your initial tips for companies to promote the wellbeing of their employees?

My first tip is to measure, not guess. In business, we make data-driven decisions every day on turnover, growth, and margins. So why not do the same when it comes to health?

We are all familiar with health days, sleep lectures, and resilience workshops. The problem is that most of these initiatives are measured by the number of participants, not by their impact. This is why most corporate health managers I speak to have difficulty expanding their resources. No data, no demonstrable impact, no budget.

Have you had similar experiences in your career?

Yes, I have experienced this myself. We once invested 10,000 Swiss francs in a sleep expert. It was a two-hour presentation, well-attended, with good feedback. My honest assessment in retrospect is this: if those two hours do not lead to concrete behavioural changes, such as a commitment to eight hours of sleep daily or regular bedtimes, it would have been more beneficial for the employees to simply sleep for those two hours.

This is not a criticism of sleep experts. It is a criticism of the system. As long as corporate health is not measured with KPIs like any other area of the business, it will remain a nice add-on instead of a strategic infrastructure. First, we need data instead of generic wellness offers to understand where performance is truly being lost. Only what is measured can be addressed, allowing us to allocate resources meaningfully.

What structural problems that burden employees are deeply rooted in fashion companies?

The fashion industry thrives on cycles: fixed deadlines, seasonal collections, and the constant pressure of the next season. Developing a new product in the sports-fashion industry typically takes two years, from concept to launch. Simple colour updates are quicker; new innovations take three or more years. The fashion calendar is tightly scheduled.

What is often forgotten is that high performance requires recovery. In competitive sports, no one would expect athletes to be in competition form for twelve months straight. A regeneration phase always follows the competition phase. The sports-fashion industry is different. Here, fashion shows, marathons, and campaign launches follow one another in quick succession. This is a structural problem.

Are there specific consequences caused by chronic stress that you particularly notice?

What I see in many of my clients' profiles, I also know from my own experience. I worked in a high-performance environment for years and ignored the classic warning signs. I powered through the day with coffee, worked while sick, and then, when I finally went on holiday, I would immediately fall ill. This is no coincidence. The body waits until it can 'allow' itself to rest and then catches up on what it has suppressed.

This is the exact same pattern I see in most high performers: the lost ability to 'relax'. The classic statement is: “I come home and just can't switch off.” This is not a character problem; it is biology.

What is behind this?

We are talking about a dysregulation of the stress response system. The body is permanently in a sympathetic or activated state, in 'always on' mode. The research here is clear: studies show that work-related chronic stress is consistently linked to an increased heart rate, elevated cortisol levels, and reduced heart rate variability. The body literally loses the ability to switch flexibly between tension – the 'fight-or-flight' state – and recovery – the 'rest-and-digest' state.

What would you recommend to leaders in the fashion industry to reduce the long-term effects of stress?

First, assess the current situation. What is the state of my body's resources? What are my stress patterns? Can I still regulate myself, and if so, what truly helps me do that? Various measurement methods are available for this, from long-term ECGs and biomarker tests to surveys.

According to studies, a healthy lifestyle can significantly reduce the risk of certain chronic diseases and considerably increase life expectancy. Some longevity clinics even speak of an 80 to 20 ratio. 80 percent of our health is said to be influenced by lifestyle, environment, and habits, while genes account for a maximum of 20 percent. So, one's own sphere of influence is huge.

What is the next step once the current situation has been determined?

Then it is the basics that make the difference. Not cryo-chambers or expensive infusions, but sleep, exercise, nutrition, and social contact. I am not just speaking from scientific conviction, but from my own experience. I used to start my training on an empty stomach and skip meals when things got stressful. I then wondered why my energy levels were so low in the afternoon. Today I know it was not a problem of willpower. Unstable blood sugar creates stress in the body, which can feel like anxiety or even panic.

The crucial question is: how do I make these basics my standards so that they can withstand a stressful work week or a business trip? For example, I always travel with running shoes and choose hotels with a gym. That sounds simple, but it is an attitude. I will say it openly: I would not choose an employer who does not actively create a framework that promotes my health and performance, and where the healthy choice is easier than the unhealthy one.

Designers balance creativity with the pressure to finish collections. at what point does physiological stress block the creative process?

The body and mind cannot be separated. Stress is multidimensional and always biological. Every negative thought, every deadline, every conflict triggers a biochemical reaction in the body. Catecholamines are released, the heart rate increases, cortisol rises, and the brain switches to survival mode. In survival mode, creativity is the last thing resources are used for. Chronic stress destroys the very mental state that creative work requires. In survival mode, one reacts rather than creates.

I thrive under short-term pressure, just like in a competition. I learned that from competitive sports. I am very efficient and solution-oriented then. However, with prolonged stress, I notice a significant decline in my creative abilities. The capacity of my nervous system is very limited then.

Are there parallels between elite athletes and executives?

Absolutely, and that is the core of my approach. I see executives as elite athletes – the business athlete. Both are under constant pressure and both depend on peak performance.

Let's take a concrete example from sports science. A fluid loss of just one to two percent of body weight measurably impairs performance, affecting concentration, strength, and reaction time. For athletes, running ten seconds below their personal best would immediately raise an alarm. In the corporate world, we ignore warning signs every day.

The difference between athletes and executives? Athletes are supported with diagnostic tools, recovery protocols, mental coaching, and nutritional expertise. I had the honour of helping to build such a system at the sports brand On: the '360° Athlete Support' programme. My goal is to transfer this principle to the business world.

What lessons did you take away from your time at On?

My most significant lesson from more than nine years in the sports industry is: culture beats motivation. Motivation is fleeting; it works when everything is easy. Culture is what sustains you when things get difficult.

I have experienced first-hand how an environment where healthy choices are the norm, such as running during the lunch break, a fresh, healthy canteen, and walking meetings, can make a difference. It led me to build habits that I probably would never have maintained so consistently on my own. The environment does the work for you. This has completely changed my perspective on sustainable performance and is now the foundation of my work with executives and companies.

Artificial intelligence (AI) is increasingly being integrated into creative and business processes. do you see these tools as a remedy for stress or as an additional pressure, as expectations for performance and speed increase?

That depends on how you use it. I have personally never been afraid that AI would replace my job. I have a very strong growth mindset and am constantly learning and developing. Anyone who is afraid of AI today should ask themselves: what are my strengths that AI cannot take over in the near future? What are the human skills that will become even more important in the future?

AI accelerates output, such as data analysis, structuring, and text creation. However, human capacities like stress regulation for strategic decisions under pressure, emotional intelligence for building business relationships, and a high-performing, healthy body for the necessary self-confidence cannot be automated in the near future. This will be the decisive competitive advantage in the coming years.

To what extent can stress diagnostics help to promote productivity or reduce error rates?

I see stress diagnostics as a tool to expand human performance capacity and as an early warning system for burnout. I know from my own experience how long you can ignore these warning signs. Being ill on holiday, feeling like you can never really switch off, waking up exhausted in the morning even though you have slept: these are not just feelings, they are measurable biological states.

Studies show that burnout patients exhibit altered cortisol patterns months in advance. Those who read these signals early can react before the damage occurs. It is not for nothing that the World Health Organization has described stress as the 'health epidemic of the 21st century'. The figures are clear: a single case of burnout costs a company four to six months' salary in lost work, and that is just the tip of the iceberg. In addition, there are losses in productivity, staff turnover, and damage to reputation. This can add up to several million per year, depending on the size of the company. That is why I see corporate health and stress diagnostics not as a cost centre, but as risk management.

This interview was conducted in writing.

Danish clothing and lifestyle brand Aiayu achieved a 22 percent increase in gross profit in 2025, according to a press release. Gross profit increased from 3.8 million euros (4.47 million dollars) in 2024 to 4.64 million euros in 2025. Net profit after tax rose in the same period from 740,000 euros to 970,000 euros.

Equity grew from 3.7 million euros to 4.2 million euros and cash and cash equivalents increased from 1.4 million euros to 2.38 million euros. The average number of employees increased from 31 to 36. Revenue figures were not shared.

The company, founded by Maria Høgh Heilmann, focuses on clothing and lifestyle products based on natural materials and works with two collections per year. In 2025, Aiayu invested in wholesale relationships, digital performance and the further development of its own e-commerce platform, according to the press release.

Aiayu was founded in 2005 and is based in Copenhagen. The brand has three stores in Copenhagen and one in Aarhus and is sold internationally through selected retail partners.

Following the strategic plan announced by Kering in Florence on April 16, unions are expressing concern about the future of jobs and have requested a meeting with CEO, Luca de Meo.

In a statement today, the national secretariats of Filctem Cgil, Femca Cisl and Uiltec Uil acknowledged the important statements made to shareholders. However, they expressed concerns about the potential employment impact of the proposed plans. These concerns relate to both the group's internal operations and its associated supply chains, particularly given the existing difficult situation at Alexander McQueen. Last March, Alexander McQueen initiated redundancy proceedings for 54 employees in Italy.

Furthermore, the unions stated they hope to "meet again soon with the chief executive officer of the Kering Group, Luca de Meo, in the hope of gaining clarity on the industrial plans that will affect all the group's brands and, consequently, all connected districts and production chains in the coming months".

FashionUnited has contacted Kering for a comment on today's statement from the unions.

British lifestyle brand Mulberry has delivered a strong sales performance for the second half of the 2026 financial year, supported by a turnaround strategy focused on brand reignition and full price discipline.

The group reported constant currency sales growth of 13.6 percent during the second half (H2) of the 52 weeks ended March 28, 2026. This momentum resulted in total revenue growth for the full year (FY26) of 5.7 percent on a constant currency basis. The performance indicates that the ‘Back to Mulberry Spirit’ strategy is gaining traction across all global regions. Every end market reported positive like-for-like (LFL) sales growth in H2, with the EU (excluding the UK) leading the expansion at 37.8 percent.

Strategic shift drives regional growth

The group’s retail and digital channels saw widespread recovery following a more difficult first half (H1) of the year. In the UK, retail and digital sales rose 13.7 percent in H2, while the US and Asia Pacific regions grew by 20.1 percent and 20.8 percent respectively.

Mulberry chief executive officer, Andrea Baldo, noted that the results demonstrate the turnaround is firmly underway despite a challenging economic and geopolitical environment. The group has remained focused on re-engaging its existing customer base while attracting new shoppers through a more focused product offer and improved availability. This growth was achieved alongside a disciplined focus on full price sales and a reduction in discounting.

These measures supported an improved gross margin for the 2026 financial year, continuing the progress seen in the H1 report where gross margin reached 69 percent.

Creative leadership and ready-to-wear relaunch

A significant pillar of the brand refresh is the appointment of British designer Christopher Kane as ready-to-wear (RTW) creative director. Kane, who previously closed his eponymous brand in 2023, will lead the return to a category Mulberry has not occupied since ending its licensing agreement with Onward Luxury Group in 2020.

The first collection under Kane’s direction is set to be unveiled in September 2026, with items becoming available in stores and online from January 2027. Baldo stated that Kane’s arrival marks an important step in re-establishing creative leadership as the brand evolves its creative language beyond accessories. Industry engagement regarding the relaunch has been high, with partners ranging from Selfridges in the UK to The Webster in the US.

Recent product initiatives, such as the ‘Rooted in Craft’ campaign and the limited edition Bayswater launch, which sold out in minutes, have already begun to elevate brand awareness. While the group remains focused on the work ahead, Baldo expressed confidence in the ability to build a sustainable, profitable business for the long term.

Belgian lingerie group Van de Velde has appointed Marc Dambremez as chief executive officer. According to a press release, he will take up the position on August 31, 2026. He succeeds Karel Verlinde, who is leaving the organisation after seven years.

Dambremez has been tasked with accelerating the company's next phase of growth. With over 15 years of international experience in the fashion industry, he brings expertise in brand-driven growth, international retail and consumer engagement. He is expected to drive further growth while preserving the heritage of craftsmanship and quality.

Chairman Yvan Jansen commented on the appointment. “Marc brings strong fashion expertise and a distinct consumer-centric mindset to strengthen and scale our brands at a time when global brand relevance and speed to the consumer are crucial.” According to Jansen, Dambremez will lead Van de Velde towards “sustainable growth and long-term value creation”.

Dambremez called the move “particularly attractive”: “The strength of the brands and the opportunities that lie ahead are particularly attractive, and I look forward to building a high-performance culture where the consumer is at the heart of the strategy. My focus will be on accelerating the momentum in our core markets.”

From Levi Strauss & Co. to Van de Velde

After more than 16 years, Dambremez moves from Levi Strauss & Co.. There, he held various international leadership positions, including managing director for Asia Pacific and managing director for retail outlets EMEA. He was also vice president of global retail, real estate and franchise.

Van de Velde's portfolio includes brands such as PrimaDonna, Marie Jo and Sarda. The company partners with thousands of retailers worldwide.

At the Paris conference on the Strait of Hormuz, the approximately 50 participating countries demanded the immediate, unconditional, and complete reopening of the strait by all parties in the Iran war. “We demand the restoration of the pre-war conditions for free passage and the unrestricted respect for maritime law,” said French president Emmanuel Macron after the meeting. “We reject any restriction or agreement that would de facto amount to an attempt to privatise the strait, and of course, any toll system.”

France intends to organise a neutral naval operation with Great Britain, which will be clearly distinct from the warring parties, to escort and secure commercial vessels transiting the Gulf along the Iranian coast. A planning meeting for this purpose will take place in London as early as next week, accompanied by close coordination with the Americans and Israel.

Message of unity

“Today's message is one of hope. It is also a message of preparation and a message of unity,” said Macron. The Europeans stand with the countries of the Gulf region; Asia; the African continent; Latin America; and the Pacific.

After a weeks-long blockade due to the Iran war, the leadership in Tehran announced its intention to reopen the Strait of Hormuz to oil tankers and commercial vessels shortly after the Paris conference began. Conversely, the US intends to maintain its own naval blockade. This blockade only affects ships with a port of departure or destination in Iran, as president Donald Trump emphasised.

Belgian luxury brand Delvaux has had its financial burden lightened. Parent company Richemont has forgiven 100.6 million euros (118.7 million dollars) of its debt, according to a report by Belgian business-focussed newspaper De Tijd. The debt has been converted into shares.

This move strengthens Delvaux's balance sheet. It is not the first time the Belgian brand has received help from its Swiss parent company. A loan of 90 million euros was provided in 2022, shortly after Richemont acquired Delvaux in 2021.

Founded in 1829, Delvaux is known as the world's oldest luxury leather goods company.

At the time of publication, neither Richemont nor Delvaux had commented on the debt restructuring.

UK-based group Associated British Foods (ABF) is anticipated to present a strategy to decouple its Primark fashion business from its diversified food portfolio this Tuesday, according to Reuters. The move follows a comprehensive structural assessment intended to enhance long-term shareholder value.

Primark currently maintains a retail footprint of 486 stores across 19 international markets. Despite its scale, the fashion retailer experienced a 2.7 percent decline in underlying sales during the Christmas quarter.

Primark separation remains working assumption

The London-based parent company initiated the structural review last year, supported by advisory firm Rothschild. ABF chief executive officer, George Weston, indicated in November that the findings are scheduled for release by April 21, 2026, to align with the announcement of first-half results.

Weston noted that the separation of the clothing chain is the “working assumption” for the board. This strategic shift is being coordinated with Wittington Investments, the holding company for the Weston family, which intends to retain majority control over both business units post-separation.

The structural evaluation arrives as ABF shares have recorded a 14 percent decrease over the last year. By separating the high street retailer from the broader group, the board aims to address valuation discrepancies between its retail and food segments.

Management restructured ahead of transition

ABF has formalised the leadership at the fashion division by appointing Eoin Tonge as the permanent CEO of Primark. Tonge, formerly the group finance chief for ABF, has led the retailer in an interim capacity since March 10, 2025, following the sudden departure of Paul Marchant.

The executive team has been further expanded with the recruitment of Filip Ekvall, a former executive at Swedish brand H&M. Ekvall joins the company in the newly established position of chief commercial officer.

These appointments mark a significant reinforcement of the Primark leadership structure as the brand prepares for a potential standalone future.

Despite the war with Iran, German ships in the Gulf region can continue to be insured. This was announced by the German Insurance Association (GDV).

“Insurers are adjusting terms and prices, but are not pulling out,” said Jörg Asmussen, general manager of the GDV. War risk insurance, which typically covers damage from incidents such as mines, is also still being offered by insurers.

According to the German Shipowners' Association (VDR), shipping companies generally take out war risk insurance for voyages through and stays in high-risk areas. The VDR also represents shipping companies whose vessels are stranded in the Persian Gulf, where traffic in the Strait of Hormuz has largely come to a halt. The association states that at least 50 ships from German shipping companies are currently stranded in the Gulf.

Insurers exercised termination rights

In early March, shortly after the war with Iran began at the end of February, the GDV announced that marine insurers were exercising their termination rights on war risk policies. According to the VDR, insurers subsequently offered coverage at significantly higher prices.

This is “a standard procedure when the risk situation changes at short notice,” the VDR stated. This has resulted in high additional costs for shipowners. For large merchant vessels, six to seven-figure sums must be paid to insure them against war damage.

Insurance brokers: prices have multiplied

Raik Becker, who works for the insurance broker Marsh Risk and negotiates with insurers on behalf of shipping companies, told the German Press Agency on Wednesday that the price of war risk insurance has multiplied since the war began. He noted that, based on experience, they are on average five to six times higher than before.

Becker added that shipping companies must pay approximately 3 to 7 percent of a vessel's value for an insured voyage through a high-risk area such as the Gulf. War risk insurance is also available for ships stranded in the Gulf. In such cases, a specific time frame is agreed upon for the policy's validity.

The Strait of Hormuz is a sea passage south of Iran and one of the most important routes for the oil and gas trade. Iran is threatening free navigation in the strait and has largely brought traffic to a standstill. The US established a naval blockade on Monday.

The stock market surge of the former shoe company Allbirds, following its surprising pivot to the artificial intelligence (AI) business, is losing steam. The stock fell by more than 35 percent on Thursday after its price had previously increased approximately sevenfold.

Allbirds was once a popular shoe brand, particularly in tech circles, which originally started in New Zealand. Following its stock market debut in 2021, Allbirds was temporarily valued at around four billion US dollars. A few weeks ago, however, the business was valued at less than 40 million dollars and was on the brink of collapse.

New start as an AI specialist?

The company then suddenly announced a new start as a provider of artificial intelligence infrastructure under the name NewBird AI. A previously unnamed investor announced plans to invest up to 50 million dollars in the company. The share price subsequently jumped from around 3 dollars to approximately 21 dollars. On Thursday, it fell back to the 10-dollar mark.

Analysts attributed the rise, in part, to investors' tendency to jump on anything related to AI. The development is reminiscent of the situation a few years ago when simply announcing something related to digital currencies like Bitcoin was enough to trigger stock price increases. Gene Munster of Deepwater Asset Management told the financial service Bloomberg that even if the Allbirds announcement lacks substance, enthusiasm and potential are enough for investors. He added that the plans also have a “healthy dose of absurdity”.

Interview

"I wanted a product that would eliminate the compromise between beauty and practicality, helping women to live with more freedom and light-heartedness," says Asia Pellegrini, the under-30 founder of Nothink Shoes, the brand for all heel lovers.

The idea came from Asia Pellegrini, the under-30 founder of this shoe label. It was made possible by the Heelchanger system, the result of over ten years of research and development. The shoes allow the wearer to easily switch from high to low heels, or vice versa, choosing between heights of 3 centimetres, 7 centimetres and 10 centimetres and seven types of heels. The collection is produced in Spain by artisans with over 30 years of experience using high-quality Italian materials. It is sold on the brand's e-commerce site and includes versatile models. By reducing the need to buy multiple pairs of shoes, the brand also promotes a sustainable approach to fashion.

FashionUnited interviewed Asia Pellegrini, the brand's founder, to understand the genesis and strategy of the company Nothink srl, which is based in Azzano San Paolo, in the province of Bergamo, Italy.

How did this idea come about?

I was living in London and I saw girls and women who, after getting off the tube and arriving at their destination, would take their heeled shoes out of their bags to replace their trainers or flat shoes. The fact is, as we know, that outfits designed for high heels are often not flattering with flat or athletic footwear. So I started thinking about a solution. I envisioned a shoe that could transform from high-heeled to more comfortable, at least enough to avoid carrying a 'spare' pair, which is also complicated. I searched the market and found the German brand Mime et moi, which sold a type of shoe that allowed you to change the heel. No sooner said than done: I bought them because I wanted to see if they 'worked well' and were aesthetically pleasing. They were indeed comfortable and functional, both in the high and low heel versions. Most importantly, once on, you couldn't tell it was a shoe with an interchangeable heel. The only thing that left me a little perplexed was the aesthetic; some had velcro, in short, not my ideal shoe. So I tried to contact the company to propose a collaboration. They never replied.

So you decided to go it alone?

Yes, I contacted two engineering firms and asked if it was feasible to patent a mechanism that would not conflict with the existing patent. The answer was that it would not be easy and there would be difficulties. Some time passed and I received a newsletter from the German brand announcing that the company was closing down. I seized the opportunity and wrote again to see if they intended to sell the patent rights. After six months of negotiations, we reached an agreement. It was a long process because, unfortunately, it involved three partners who had decided to abandon the brand as they no longer got along. In the meantime, I went to Spain to visit the company that produced them.

Where exactly are the shoes produced?

In Alicante, Spain. It is actually three different factories: one produces the sole components; another produces the heels; and the third assembles the shoes. These three facilities are all located in the same small town and had been collaborating with the German company for over 10 years. They had been involved from the very beginning, first in the creation of the prototype and then in the actual production. So in 2023, we started creating the new models and did some testing. In 2024, we were ready and launched on the market with our e-commerce site, which is still our main channel for selling shoes in Europe, America and South America. We recently attended a trade fair in Dubai, the International Apparel and Textile Fair, and the response was very positive.

The price of the shoe, around 250-280 euros, includes one high and one low heel. This is in line with this market, as are the current models. If you want to buy other heels, a set starts from 35 euros. Today, in fact, the shoe has a structural limitation in that the sole has to move, so it cannot be completely closed. The central part must remain open. Therefore, it is obviously not wearable in Italy or where it is cold in winter. We are currently looking into developing a boot, but we are in the early stages.

What was the initial investment?

The initial investment was around 100,000 euros to acquire the patents, i.e. the patent registered in several countries, and some stock.

What was your turnover last year?

Around 50,000 euros, and we expect to double that in 2026.

What are the primary markets?

The market that is currently responding best is Spain. This is because I have a Spanish partner. In fact, in 2024, a girl who had the same idea as me contacted me. She is a 22-year-old girl from Valencia: Luna Talavera Garcia. She is very good and dedicates herself to this brand full-time, while I also have another job. Luna manages the Tik Tok and Instagram channels; today we have almost 250,000 followers. She creates content in Spanish, explaining how the mechanism actually works. She also explains that the price is justified by the fact that the sole has 20 components and it is an artisanal shoe, as it is made entirely by hand with high-quality Italian leather. The collection also includes models in faux leather and fabric, always of high quality as the material must be flexible and durable.

Germany is the second market for us and Italy is the third, followed by England, where my idea originated. With Brexit, unfortunately, those who order online have to pay high duties. The goal, therefore, is to find a partner in the country.

So at the moment, digital and e-commerce are the preferred channels in your strategy?

Yes, in the future we are also thinking of participating in some trade fairs in Italy. Last year we opened a temporary pop-up in Milan and involved the press and potential customers who wanted to try on the shoe. The next pop-up will be opened in Paris. Shops often ask us for the footwear, but stock management can be a bit complex, also because of the set of additional heels that need to be kept.

Madrid – Spanish fashion giant the Inditex has become the latest major corporation to fall victim to a cyberattack. An “unauthorised access” to the company's computer databases, containing customer information from various markets, has been reported. However, it is specified that this breach has not affected customers' personal or banking information.

According to a statement from Inditex's management, the breach of customer databases was detected on the servers of one of its technology providers. These infrastructures suffered a cyberattack that affected both Inditex and other companies with international operations. Following the attack, the Spanish fashion multinational, parent company of chains such as Zara, Bershka, Pull&Bear and Massimo Dutti, “immediately” implemented its security protocols. It also notified the relevant authorities. This was the result of a security breach on the servers of that third-party technology provider, where the company's compromised databases are hosted. Inditex reiterates that the incident “in no case” affected the personal and banking information of customers, who “can continue to access and operate with complete security”.

“Inditex has identified an unauthorised access to its organisation's databases hosted by a third party. These databases contain information about the commercial relationship with customers from different markets, but in no case do they contain data such as first and last names, telephone number, address, passwords, bank cards or other means of payment,” stated the Spanish fashion multinational in the aforementioned statement. Once the breach was detected, “Inditex immediately applied its security protocols and has initiated the notification to the corresponding authorities about this unauthorised access, which originates from an incident suffered by a former technology provider that has affected several companies with international operations”. In the case of Zara's owner, “Inditex's operations and systems have not been affected in any way” as a result of the cyberattack, and therefore, it is assured, “customers can continue to access and operate with complete security”.

A growing risk for companies

With this breach of its databases containing commercial information from customers in different markets, Inditex joins the growing list of companies and groups in the sector that have recently fallen victim to similar cybersecurity breaches, both in their own and third-party structures. Recent examples include breaches detected by Nike, Mango, El Corte Inglés and Tendam. In the case of the three Spanish companies, a breach of customers' personal data was reported.

Aware of this growing potential risk, especially within a multinational company like Inditex that has adopted an omnichannel business model, the company created and launched a Cybersecurity Advisory Committee in 2023. This is an independent body from its Audit and Compliance Committee. Its purpose is to advise the company on matters related to information security and cybersecurity. These are included among the potential technological risks for the company, given the “high degree of digitalisation and technological integration of Inditex's business model”. This nature leads the company to estimate, as stated in its 2025 Annual Report, that “the eventual materialisation of technological incidents—arising from factors such as infrastructure failures; cybersecurity incidents; application errors or difficulties in interacting with third-party technologies—could have a cross-cutting impact on the Group's activity, affecting the normal development of operational and commercial processes”.

To continue mitigating these potential risks, “throughout 2025, we continued to strengthen our defence capabilities to improve detection and response to threats such as DDoS attacks, credential stuffing and third-party vulnerabilities,” such as the one just identified, the Report adds. To achieve these objectives, the company has a specialised cyber-intelligence team responsible for continuous monitoring and early detection of risks and threats. It also has a Security Operations Centre (SOC) available 24 hours a day, seven days a week, which is responsible for the detection, analysis, notification and resolution of potential “security events” that may affect Inditex.

In 2025, a total of 66 “events of interest” were recorded. “The most relevant” of these were “reported to the Information Security Committee”. However, “none of these events” had a “significant impact on our operations or our financial statements”. This highlights how cybersecurity has become an increasingly critical area for companies. Therefore, in addition to the above, during 2025, Inditex carried out intrusion prevention measures and individual cybersecurity training programmes, providing specialised training to more than 4,000 team members.

French luxury group Kering announced on Thursday during its Capital Markets Day that it will acquire a minority stake in the Chinese group ICCF (Icicle Carven China France). The investment is part of the “House of Wonders” initiative, through which Kering aims to support selected “emerging luxury brands”.

According to the group, the transaction is part of a “strategic partnership” aimed specifically at strengthening the fashion brand Icicle, which belongs to ICCF. The plan is to drive the label's international expansion and expand its range with additional product categories, Kering explained.

Founded in Shanghai in 1997, the brand combines sustainable materials with subtle tailoring and traditionally represents a “quiet luxury” aesthetic. Icicle offers ready-to-wear collections for men and women, as well as accessories, and currently operates more than 200 stores, including flagship stores in the major cities of Beijing, Shanghai and Paris.

The investment also underscores the French group's strategic goal of strengthening its presence in the Chinese market. “This partnership combines ICCF's deep understanding of the Chinese luxury ecosystem and cultural landscape with Kering's long-standing expertise in craftsmanship, operations and brand development in Europe,” a statement read.

Backcountry, the premium retailer of outdoor gear and apparel, has launched a brand incubator, designed to accelerate and grow the next generation of outdoor brands, and has acquired Utah-based eco-focused Coalatree as the first brand for the platform's portfolio.

The incubator platform is called Backcountry Garage, and has been designed to advance Backcountry’s vision to provide the best outdoor gear, curate innovative products, and make them accessible to a growing community of outdoor enthusiasts, while investing in “the next generation of brands shaping the outdoor industry”.

“By creating space and support for new builders and tinkerers, Backcountry taps back into its entrepreneurial roots and encourages new voices to enter the fray,” explained the brand in a statement.

Kevin Lenau, president of Backcountry, said: “At Backcountry, we believe constant innovation is the most powerful way to improve our customers’ experience outside.

“Backcountry Garage is how we keep pushing when much of the industry is waiting, partnering with builders and founders who are rethinking how great gear should perform so our community feels the difference every day on the trail, at the crag, and in their own backyards.”

The first brand acquired for the Backcountry Garage platform is the eco-minded outdoor apparel and gear brand Coalatree, founded in 2010, which has become known for its popular trailhead pants and 3-in-1 Kachula blankets.

With the new partnership, Coalatree will continue to sell through its direct-to-consumer site, “preserving its distinct voice and community,” while select key styles will also be available at Backcountry.com.

JM Fabrizi, president of Coalatree, has been appointed as the director of Backcountry Garage, where he will oversee Coalatree’s next stage of growth, while also establishing the incubator as the hub for “differentiated, community‑focused products and brands that reflect Backcountry’s values of quality, sustainability, and access”.

“The Coalatree community has helped shape every product we make, from our best‑selling Trailhead Pants to packable layers and 3‑in‑1 Kachula blankets,” added Fabrizi. “Partnering with Backcountry means Coalatree can stay close to that community, obtain feedback on a larger scale, and bring new ideas to life that were too big for Coalatree to tackle alone.”

Florence, Italy - French luxury group Kering is at a “turning point”, its chief executive officer Luca de Meo said on Thursday. He was presenting the company's new strategic plan in Florence, Italy.

To return to growth, the executive highlighted a series of measures, particularly for its flagship brand Gucci, with a “significant” move “upmarket in quality”.

“Our priority is to make Gucci a must-have again,” said de Meo. The double-G brand has seen poor results for the past three years.

“You have to recognise it's Gucci in a second. That doesn't mean covering the world in GGs (the brand's logo, ed.). It can also be discreet,” said de Meo, who spoke of a “renewed identity”.

Kering (which also owns Yves Saint Laurent, Bottega Veneta, Kering Eyewear, Boucheron, etc.) aims “to generate an additional one billion euros in revenue from leather goods by 2030” for the brand, the executive stated.

“Customers notice quality, they notice consistency and they remember it,” he assured, adding that the house would have 30 percent fewer points-of-sale by 2030.

According to figures published on Tuesday, Gucci's sales continued to decline in the first quarter (down 14 percent over the period) to 1.35 billion euros (1.59 billion dollars), down 8 percent excluding currency effects.

Kering will also implement measures for the Chinese market across all its houses. This is a key region for the luxury sector. The group plans to significantly increase marketing and sales budgets and close points-of-sale there.

US sustainable footwear company Allbirds has announced a radical shift in corporate strategy, transitioning from a fashion retailer to an artificial intelligence (AI) compute infrastructure provider. The San Francisco-based firm, which recently divested its brand assets, intends to rename itself NewBird AI as part of a pivot toward the technology sector.

The announcement triggered a significant reaction on the Nasdaq, where shares surged more than five-fold on Wednesday. The stock increased 435 percent to 13.33 dollars, resulting in a market valuation of 116 million dollars. Despite this recent rally, the company has experienced a substantial decline since its 2021 debut, where it reached a valuation of 3 billion dollars before losing approximately 99 percent of its market value.

Divestment of footwear assets and brand legacy

This strategic overhaul follows the company entering into a definitive agreement to sell the Allbirds brand and footwear assets to US-based American Exchange Group. The asset sale, valued at 39 million dollars, marks the end of the firm's tenure as an independent footwear operator.

The company has executed a definitive agreement with an institutional investor for a 50 million dollars convertible financing facility. This capital is earmarked for the acquisition of high-performance graphics processing units (GPUs) to serve the growing demand for AI compute capacity.

Independent retail consultant Bruce Winder told Reuters that the move appears to be an attempt to capitalise on the current AI movement. Winder expressed skepticism regarding the company's competitive advantage in the sector beyond its existing name recognition. The pivot comes as Allbirds has been closing the majority of its brick and mortar stores due to muted consumer demand and a strategic shift toward online partnerships.

NewBird AI aims to address the global shortage of specialised, high-performance compute resources. The long-term objective for NewBird AI is to evolve into a fully integrated neocloud platform.

French luxury giant Kering has announced a recovery plan as the group continues to struggle. On Thursday, it revealed measures that include more than doubling its operating margin rate in the medium term.

The group began a transformation last year under its new chief executive officer, Luca de Meo. It now aims to achieve an operating margin rate of at least 22 percent in the medium term, it said in a statement, without specifying an exact timeline.

Kering's strategy for its revival

Kering also plans to dedicate 5 to 6 percent of its turnover to developing sustainable organic growth for its houses. The group is also considering targeted acquisitions, particularly to secure its raw material supplies.

The group aims for a “progressive outperformance of the market,” it said, without providing further details. Changes are also being implemented for Gucci, which has particularly struggled in recent years. The Italian brand generates approximately 40 percent of the group's turnover. For Gucci, Kering plans “a strengthened leather goods offering” and “higher quality standards”.

“More targeted local strategies and an optimised distribution model will allow the brand to be more relevant in its markets, strengthen its exclusivity and guarantee its speed of execution,” Kering stated.

Furthermore, the company is considering acquisitions “aimed primarily at strengthening know-how, vertical integration and securing raw materials,” it specified. The group did not disclose the amount that could be dedicated to these operations.

These announcements were made just before Luca de Meo presented Kering's new strategy to investors in Florence, the birthplace of Gucci, on Thursday morning.

Like other companies in the sector, Kering has suffered from a slowdown in recent years. This was caused in particular by weaker demand in China, one of the main luxury markets.

The group has also suffered from a significant decline in Gucci's popularity. The Italian house has a new CEO and a new artistic director, Demna Gvasalia, who presented his first collection in the autumn. However, these efforts have yet to yield results.

In the first quarter, Gucci's sales fell by 14 percent, or 8 percent on a like-for-like basis, which was below expectations. Kering's total turnover for the period fell by 6 percent, remaining stable on a like-for-like basis.

The US-based global retail platform Vince Holding Corp. has reported its financial results for the fourth quarter and fiscal year ended January 31, 2026, revealing a resilient performance despite significant headwinds from the reorganization of Saks Global.

The company is now pivoting toward international flagship expansion and an enhanced direct-to-consumer (D2C) model to drive future growth.

Strategic response to Saks Global reorganization

During the earnings call, executives addressed the impact of the Saks Global situation, which created a sales headwind of approximately 2 million dollars during the fourth quarter. The reorganization also resulted in a 6 million dollar bad debt expense, which significantly impacted the quarterly loss from operations.

Vince chief executive officer, Brendan Hoffman, noted that Saks Global recently represented less than 7 percent of total sales. Hoffman expressed confidence in the current clarity regarding the situation, stating: “We are working with our partners there as they move forward in their plans.”

To mitigate wholesale risks, Vince is deepening its relationships with other key partners. The company reported strong results from its presence in Bloomingdale’s and recently executed successful events with Nordstrom in Dallas and Los Angeles.

International expansion and flagship ambitions

Following the success of its second London-based store in Marylebone, which exceeded internal expectations, the company is looking to gateway cities for further growth. The company has identified Paris as a primary target for a flagship location within the next two years.

Hoffman emphasized that the Marylebone success has raised the bar for international entries. The company intends to focus on high-productivity locations rather than a rapid increase in total store count. Domestically, the strategy involves rationalizing the existing fleet, which ended the fiscal year at 55 company-operated Vince stores, to maximize productivity within current footprints.

The company is increasingly leveraging its digital platform through expanded drop ship capabilities. In spring/summer 2026 (SS26), Vince will introduce handbags, tailored clothing, belts, and accessories to the drop ship model. This strategy allows the brand to offer a broader assortment with minimal inventory risk by utilizing the stock of licensed partners, such as Caleres for footwear.

The menswear business remains a significant growth lever. Men’s apparel represented approximately 24 percent of total sales at year-end, with management targeting a 30 percent penetration rate. This growth is expected to be driven by expanded assortments in physical stores and the e-commerce platform, alongside increased wholesale partnerships.

Fiscal year financial overview

For the fiscal year ended January 31, 2026, total company net sales increased 2.2 percent to 300 million dollars. The growth was primarily supported by a 4.8 percent rise in the D2C segment.

Gross profit was 149.10 million dollars, or 49.7 percent of net sales. Net income reached 6.40 million dollars, or 0.49 dollars per share, compared to a net loss of 19 million dollars in the previous fiscal year. Adjusted EBITDA was 15.10 million dollars, up from 14 million dollars in fiscal 2024.

Despite the quarterly loss from operations of 2.90 million dollars, which was heavily influenced by the Saks-related bad debt, the company’s full-year performance showed a return to profitability. Higher pricing strategies helped offset 250 basis points of pressure from tariffs and 130 basis points from increased freight and distribution costs.

Looking ahead to fiscal 2026, Vince expects net sales to increase between 3 percent and 6 percent year-over-year. The company also aims to achieve an adjusted operating income margin of approximately 3.5 percent to 4 percent as it continues to transition into a multi-brand support platform in partnership with Authentic Brands Group (ABG).

For Kelly Cook, it has been a busy first year as CEO of David’s Bridal. Since taking up the helm position, Cook has enacted a number of initiatives under the transformation strategy, ‘Aisle to Algorithm’, intended to reposition the company as a digital-first global resource for independent boutiques and enterprise accounts targeting the modern-day bride.

The identity shift has seen David’s Bridal move beyond simply serving as a retailer and into an “AI-powered marketplace, media network and planning ecosystem”. Recent launches have included ‘Pearl Planner’, an AI-driven wedding planning agent; ‘Travel by David’s’, a platform for customers to plot out wedding-related trips; an ambassador programme to scale creator-led commerce; and ‘Breaking Bridal’, an original video series covering the weddings of modern couples.

Within its retail network, the company has also applied a future-centric approach, striving for an asset-light model with a vertically integrated supply chain. Its newest store concept, ‘Diamonds & Pearls’, has been established as a premiumised, omnichannel experience now operating from two locations. A recent expansion into Mexico, meanwhile, is carving out a path for broader international growth, after what was described as a “replicable” shop-in-shop format was introduced to the country’s Liverpool retail destination.

In terms of collection, both curation and diversification have been central to the strategy. A renewed exclusive partnership with Vera Wang Bridal, for example, was the beginning of an eventual shift into wholesale for David’s Bridal, which last month established a dedicated division for this arm. The debut of a menswear collection last year, as well as a more recent venture into Indian bridal through a partnership with designer Kynah reflect the potential of emerging markets the company is tapping into to broaden its consumer base.

Collectively, the far-reaching strategy seems to address nearly all touchpoints of a couple’s wedding planning process, while also taking into account the evolving needs of the modern bride. “We have fundamentally moved from a legacy retailer to a high-velocity media content, entertainment, and technology engine,” Cook stated last month. To get more insight, FashionUnited spoke to Cook to discuss the intricacies of David’s Bridal accelerated transformation and what the executive has in store for the future.

On Indian bridal expansion

What led to the decision to enter the Indian bridal market, and why was it a strategic priority for the business now?

At David’s, we exist for magical moments. All of them. We want to serve every bride, everywhere. In doing our research, we were so inspired by the Indian brides, the celebrations, the traditions - not to mention the absolute beauty of the gowns themselves. The weddings unfold over several days, not as a single event, but as a rich tapestry of love, tradition, and togetherness. From the joyful rhythms of the sangeet and the intricate henna patterns painted during the mehndi, to the solemn vows exchanged around the sacred fire, every moment is filled with intention and emotion. That is what David’s is all about.

We knew we needed to serve her. It was a massive opportunity we couldn’t ignore. We partnered with Kynah because their couture-inspired, culturally rooted designs are exactly what the modern global bride and wedding guest is looking for. As I always say, if cauliflower can become pizza, anything can happen and David’s can certainly become the ultimate destination for every culture’s "I do".

How does this expansion fit into your broader vision for cultural inclusivity, and are there other segments where you see similar growth opportunities?

Our "Aisle to Algorithm" strategy is about transforming from a traditional retailer into a marketplace platform for every bride and every celebration style. We’re bridging culture and commerce by bringing luxury and accessibility to fast-growing segments. We’re already expanding into men’s tuxedos through Generation Tux and formalwear for Quinceañeras and homecoming. We’re not just checking boxes; we’re breaking them.

On wholesale expansion

What early indicators showed that your wholesale expansion can complement direct retail as a significant revenue driver, and how is your vertically integrated model helping scale this globally?

The early indicators are very strong. Our wholesale clients are blown away. We can offer them tremendous margin opportunities while providing exquisite, luxurious designer gowns and dresses. We can do this because we own our design centers and production.

We also maintain a “tariff-resistant” production environment due to the vast global operations. We can pivot quickly to “tariff-friendly” environments - these savings, coupled with our vast scale, enables us to pass along better margins to our wholesale clients. One of our first small business partners told us we were saving them double digits on margin. When you can deliver industry-leading margins and faster fulfillment, wholesale isn't just a side hustle - it's a global engine.

How do you ensure that supporting independent boutiques through wholesale doesn’t dilute your own brand equity or differentiation?

The strategy is different. We win when we serve a bride - whether she buys it directly from us, one of our many marketplace partners, from DoorDash, or one of our boutique clients.

Better yet, all of our partners can maintain exclusivity. Our initial wholesale offering features capsule collections from iconic names like Vera Wang Bride, Oleg Cassini, Viola Chan Couture, Galina Signature, and more, that are developed specifically for wholesale partners—you won’t find these exact gowns in our own stores. We want to provide stunning gowns to all brides, whether they buy from us or an amazing boutique partner, while keeping our own retail experience distinct.

On the Diamonds & Pearls retail concept

A year on from the launch of Diamonds & Pearls, how is this elevated concept affecting in-store conversion, customer lifetime value, and online engagement?

The response has been electric. Brides are head-over-heels for the boutique-style environment and personalised styling, especially for exclusive designers like Marchesa. It validates our vision that today’s bride wants a "tech sandwich": high-tech digital tools on the front end during inspiration and the back end while planning, but a high-touch, sacred experience when she’s standing in front of that mirror.

How are you using insights from this tech-enabled, high-touch retail model to guide where and how you scale, and how does the integration of couture-level products with AI-driven personalisation shift the store’s role from a point of sale to a hub of discovery and engagement?

Diamonds & Pearls is our laboratory for the future. By using AI like Pearl Planner to handle the 300-task planning "headache," the store stops being a place of transaction and starts being a place of magic. We’re using data to de-stress the bride so she can focus on the dream, not the spreadsheet.

On Mexico and beyond

How does the shop-in-shop model in Mexico complement or extend your elevated retail strategy, and what early insights from this partnership are shaping your approach to global customer acquisition and localised merchandising?

Our Shop-in-Shop model with Liverpool is exceeding our expectations. Our Shop-in-Shop brides are not only the “household CEOs” making all of the brand decisions for the family, but also at an age which is desirable for partners: 24 years old on average.

We are excited to bring this model to more and more of our department store partners. Our franchise locations in Mexico and our expansion into international wholesale are all part of our growth strategy. It allows us to scale our brand and our vertically integrated production platform to new markets without the heavy overhead of traditional expansion.

With the launch of Breaking Bridal, what role does original programming play in driving measurable business outcomes, and how do you see David’s evolving its content ecosystem as you expand further into entertainment?

Breaking Bridal is where bingeable storytelling meets commerce. We’re reaching 20 million viewers a month across our Pearl Media Network. Each episode is connected back to our planning tools and shoppable moments. Inspiration fuels planning, planning fuels purchasing, and purchasing fuels the community—that’s the flywheel that drives real growth.

Looking across your newer ventures, from wholesale and retail innovation to cultural expansion, which do you expect will most significantly redefine David’s Bridal over the next three years, and are there other unexpected opportunities on the horizon?

Our agentic AI, specifically Pearl Planner, is the real game-changer. It’s turning us from a dress retailer into a tech-enabled planning partner for the entire 70 billion dollar wedding market. In the future, a bride will give us a few prompts, we’ll build a fully immersive AR wedding, and she’ll hit one button to buy it all. Done.

On leadership and teamwork

You stepped into the CEO role at a pivotal moment. What has surprised you most about the business or the customer over the past year? How has your leadership approach evolved as you’ve guided the company through a significant transformation?

I started on April Fool’s Day, but the transformation has been no joke! I was surprised by how ready this industry was for a revolution. But I was mostly so incredibly energised by a team of dream makers, our employees, who want to set this industry on fire. They are bold, strategic, passionate and unapologetic about serving her - and pivoting a 75-year old retailer into a global retail, media, AI, and planning marketplace.

Internally, how have you brought teams along on this shift from a traditional retailer to a more tech- and media-driven company? What has been the biggest cultural change inside the organisation as you move toward an ‘Aisle to Algorithm’ model?

It’s all about the "servant’s heart" - you approach every conversation, every interaction, every conflict with: how can I serve her or serve the person who is?

Talent is everything. Getting the right talent is sort of like assembling Ikea furniture - if you pick the wrong part, nothing fits, and someone ends up crying.

I tell my team - if you look around your circle and you aren’t inspired, then you don’t have a circle, you have a cage. We take what we do seriously, but not ourselves. No egos. Just a fun, focused, fearless team.

What does success look like for you, not just financially, but in how brides and partners experience the brand? On a more personal level, what excites you most about redefining a brand like David’s Bridal for a new generation?

More happiness, more kindness, more joy. That’s what wakes me up every day. The world is running on three percent battery, caffeine, and too much bad news. People fussing at each other online, traffic making us question our will to live, and news treating every Tuesday like it’s the apocalypse.

We need more happiness. More kindness. More joy. Real, stupid, contagious joy! One of the only things still free! You can give it away all day and somehow you end up with more of it. It’s like magic, except it actually works.

David’s exists for magical moments. It’s a fantastic business to be in. We remember how we make each other feel. Ridiculously kind. Laugh louder. Dance badly in public. Ha! Just typing this answer puts a huge smile on my face!

We want brides to feel completely supported from the moment she gets engaged to the moment she forms her new household. What excites me is proving that a 75-year-old legacy brand can reinvent itself and win. We’re just getting started!

This article was conducted in writing.

Retail giant Walmart has joined the US Cotton Trust Protocol, in a move that represents a significant step for the retail sector, expanding the reach of responsible cotton sourcing while reinforcing the company’s commitment to regenerative practices and greater supply chain transparency.

Through its participation in the Trust Protocol, Walmart will now have access to aggregated, independently verified data on sustainability practices from US cotton producers, along with enhanced traceability of US Cotton and Protocol Cotton throughout its supply chain. The membership is in line with Walmart’s wider goal of increasing its use of more responsibly sourced cotton, while contributing to its broader aim of helping to manage, protect and restore at least 50 million acres of land and 1 million square miles of ocean by 2030.

“At Walmart, we are committed to providing our customers with quality products that are not only affordable but also produced in a way that is responsible and sustainable,” said Jerome Del Porto, Head of Corporate Sustainability at Walmart, in a statement. “Joining the US Cotton Trust Protocol is another step in our journey to continue driving meaningful change within our own supply chain and the industry at large.”

Launched in 2020, the US Cotton Trust Protocol serves as a voluntary, science-based sustainability and traceability programme for US cotton, designed to deliver measurable and verifiable outcomes. By combining data collection with a traceability system, the US Cotton Trust Protocol allows brands and retailers to better monitor sustainability practices and track cotton through the supply chain. Additional participants in the programme include Amazon, Macy’s Inc., Levi Strauss & Co., and URBN.

“We welcome Walmart to the Trust Protocol, recognizing the reach and influence their membership will extend in advancing sustainable cotton sourcing practices,” said Gary Adams, President of the US Cotton Trust Protocol. “This collaboration directly strengthens our mission to drive continuous improvement and foster greater transparency in the supply chain.”

Stock of Hermes International SA (HESAF.PK) is falling about 8 percent on Wednesday morning trading after the company reported a decline in revenue for the first quarter, to 4.070 billion euros, compared to 4.129 billion euros, last year.

The company's stock is currently trading at 1,635.00 euros, down 8.30 percent or 148.50 euros, over the previous close of 1,783.00 euros on the Paris Exchange. It has traded between 1,529.00 euros and 2,606.00 euros in the past one year.

Revenue from the ready-to-wear and accessories business fell to 1.076 billion euros from 1.149 billion euros in the previous year. Revenue from the watches business stood at 135 million euros as against 151 million euros a year ago

Paris, France - Children's fashion brand Jacadi could come under the control of the Deveaux group. The group has notified the Competition Authority of a proposed merger, the authority confirmed on Wednesday, corroborating a report by the Ouest-France newspaper.

Jacadi has been owned by the northern French group IDKIDS since 2005, which has been placed into receivership. The proceedings affect its brands Obaïbi (clothing for 0 to 3-year-olds), Okaïdi (3-14-year-olds), Oxybul (educational toys) and the logistics platform IDLOG. Jacadi is excluded from this process.

IDKIDS praised Jacadi’s “growth trajectory”, which achieved the “best performance in its history” in 2025 with a 35 percent increase in profitability.

“The Competition Authority has received notification of a proposed merger (...), consisting of the acquisition by the Deveaux family of exclusive control over the Jacadi group,” the competition watchdog wrote on its website.

The Deveaux family operates in the womenswear and menswear sector through the brands Armand Thiery, Toscane, Edji and Jacqueline Riu. It is also active in the textile manufacturing and dyeing sectors, the Competition Authority added.

The authority's role includes reviewing all proposed takeovers and mergers above a certain size in advance. This is to prevent the formation of overly dominant positions or monopolies. The review period can last for several months.

In early February, the international investment firm Blue Water Venture Partners, led by New York-based investor Joseph Hernandez, announced its intention to buy the children's fashion brand Jacadi Paris. When contacted, Jacadi had not yet responded to AFP's requests for comment.

Launched at the end of January by the Confédération des petites et moyennes entreprises (CPME), the Made in France Alliance is part of a drive to revive national industrial production.

Three months later, as new economic models redefine value dynamics, particularly those driven by the creator economy, the alliance has highlighted a series of objectives to enhance national production and recreate value within the country.

This initiative, led by the CPME, was co-founded with the CFTC; the CFE-CGC; the Made in France trade show; the Origine France Garantie label; the Union des Industries Textiles (UIT); and the Réseau Excellence EPV (Living Heritage Company).

The Made in France Alliance brings together employers' organisations, social partners and industry players around a common goal: to strengthen French industrial production in the country.

“Made in France” is seen as an economic and social project set against a competitive backdrop: pressure from Chinese ultra fast fashion platforms and the need to respond to ecological and digital transitions.

The macroeconomic objective is to increase the industry's share of GDP from 9 percent to 13 percent.

Public procurement, a central but under-exploited lever

Public procurement is considered an immediate driver of activity for SMEs. It represents at least 170 billion euros per year. However, only 22 percent of purchases are currently directed towards French production.

The challenge is to move beyond a logic based solely on price to integrate broader criteria such as local employment, tax benefits and the impact on local areas. According to a study by the UIT and KPMG, a company producing in France would reinvest an average of 84 percent of its turnover into the national economy, compared to 35 percent for an importer.

Training needed to meet industrial demands

Companies, particularly SMEs, face recruitment difficulties, especially for technical roles.

The objective is to adapt training provision to the needs of the productive fabric, while enhancing the attractiveness of industrial professions. This upskilling is seen as a way to secure career paths and to support innovation and the upscaling of French production.

Directing savings towards productive investment

The third focus is financing the industry through better mobilisation of savings. While French savings are considered abundant, they are still not sufficiently directed towards productive companies.

The Alliance thus intends to identify mechanisms to channel more capital into industrial investment, particularly towards SMEs. The challenge involves both modernising production tools and relocating certain activities.

For these three action levers, the Alliance advocates a structured approach based on prioritising projects, implementing concrete measures and long-term monitoring. Its action now depends on their inclusion in the political agenda.

Paris, France - Having transitioned from a fashion icon to a thorn in the side of French luxury group Kering, Gucci must now reinvent itself to avoid further weighing on its parent company's accounts.

The luxury giant, which also owns Yves Saint Laurent, Bottega Veneta, Kering Eyewear and Boucheron, will present its strategy to investors on Thursday in Florence, Gucci's birthplace. Particular attention will be paid to its plans for the double G brand.

Luca de Meo, the former head of Renault appointed as Kering's chief executive officer in 2025, must work his magic on the Italian house. He needs to rekindle the brand's former brilliance. The financial stability of the entire group is at stake, as Gucci accounted for approximately 40 percent of its turnover in 2025.

While Tom Ford's tenure as artistic director from 1994 to 2004 represented a golden era for the house, subsequent creative choices have been less successful. This has led to a significant drop in sales over the past three years.

"In this sector, you sell something that consumers desire. If you give too much of something people love, eventually they will no longer want it," analyses Luca Solca, an industry specialist at Bernstein. "With the rise of streetwear, Gucci became ubiquitous... To some extent, this killed its desirability," he added.

Ingredients

Flavio Cereda, director of investments at Gam, shares a similar view. "Gucci has had issues with distribution, products and pricing," the specialist told AFP.

This decline in popularity is reflected in the figures, which is particularly stark against the backdrop of a slowdown affecting nearly all luxury players. After peaking at 10.5 billion euros in 2022 (12.38 billion dollars), Gucci's turnover has steadily declined, falling to approximately 6 billion euros last year.

Hopes are now pinned on the house's new artistic director, Demna Gvasalia, who joined in early 2025. His debut show took place in Milan in February, following a preliminary collection presented in September. "My vision for Gucci is based on the coexistence of heritage and fashion... Gucci only exists when the two are in harmony, when each one nurtures the other," he explained in a letter published in February, outlining his vision for the brand.

Since September, Gucci has also had a new CEO, Francesca Bellettini, who was previously Kering's deputy chief executive officer. Will these changes be enough? In the first quarter of 2026, Gucci's sales fell again by 14 percent to 1.35 billion, according to figures released on Tuesday. On a like-for-like basis, however, the decline was smaller than in the fourth quarter of 2025, at 8 percent compared to 10 percent.

According to analysts at HSBC, 2026 could mark a rebound, with an acceleration in the second half of the year. "It is the largest Italian luxury brand. It has the heritage, the distribution; it has all the ingredients," noted Flavio Cereda.

French luxury group Hermès reported on Wednesday that its first-quarter sales fell by 1.4 percent year-over-year to 4.1 billion euros (4.83 billion dollars). The results were impacted by exchange rates and the war in the Middle East.

At constant exchange rates, the saddler and leather goods maker's revenue grew by 6 percent, with the adverse currency effect accounting for 290 million euros. “In a tense geopolitical context, the house of Hermès is staying the course,” said executive chairman Axel Dumas, quoted in the press release. Activity in the group's stores, which grew by 7 percent, “lost almost 1.5 percentage points of growth due to events in the Middle East,” chief financial officer Éric du Halgouët told journalists.

“We had very strong double-digit growth in January and February. March came to a halt, with our business down by 40 percent,” he detailed, “mainly in the United Arab Emirates.” He added that the group operates six stores in the region, which account for “4 percent of the group's sales”.

Sales in the UK, Italy and Switzerland also suffered from the war. According to the chief financial officer, this is because Hermès has a “significant proportion of Middle Eastern clientele” in those countries.

Sales in France, down 2.8 percent to 347 million euros, were penalised by “the slowdown in tourist flows, particularly in March,” according to the press release.

In other regions, sales in America, Japan and Europe excluding France “showed strong growth,” “despite the slowdown in tourist flows linked to events in the Middle East.”

The Americas region “had an exceptional first quarter, with balanced growth across all business lines in the US, Canada and South America.” Revenue was up 6.4 percent to 739 million euros.

Revenue in Japan was down 3.9 percent (but up 9.6 percent at constant exchange rates) to 404 million euros, driven by local clientele.

In Europe excluding France, revenue was up 7.6 percent to 538 million euros, also supported by local demand. Revenue in Asia excluding Japan fell by 4.6 percent (but increased by 2.2 percent excluding currency effects) to 1.88 billion euros. Greater China (which includes Hong Kong, Taiwan, Macau and China) “continued to see slight growth.”

The verdict came in this Tuesday for Kering. With revenue of 3,568 million euros in the first quarter of 2026, the luxury group finally stabilised its revenue on a comparable basis. Organic growth remains at a standstill. Yet this 0 percent stagnation on a comparable basis marks the end of a freefall period and validates the foundation on which Luca de Meo intends to build his turnaround plan.

Revenue seeks balance

The first quarter closed with stable trading (0 percent) on a comparable basis, although the 6 percent decline in reported figures is a reminder of the impact of recent scope adjustments. This plateau suggests the group is finally stemming the losses. Luca de Meo attributes the performance to the first tangible effects of more rigorous operational execution. The contrast between channels remains sharp, however. While the directly operated retail network fell 2 percent, wholesale rose 6 percent, driven by an eyewear division that is asserting itself as a source of resilience.

Gucci: Start of transatlantic rebound

A vital engine for the group, Gucci remains in recovery mode, with revenue of 1,347 million euros, down 8 percent on a comparable basis. Asia-Pacific and western Europe still weighed negatively on performance, but North America delivered a strong signal with growth of 8 percent. This rebound in the US validates the first measures to reposition the offer. The strategy now rests on a drastic rationalisation of product categories and a more sequenced roll-out of collections throughout the year to restore brand desirability.

Property disposals: 729 million euros in immediate liquidity

Kering appears to have taken on board criticism of its past property appetite.

Kering used the quarter to monetise part of its Milan real estate portfolio. The group struck an agreement with Al Mirqab Group concerning the asset at 8 via Monte Napoleone, one of the most prestigious luxury streets in the world. The transaction enables Kering to collect 729 million euros on completion, with a further 432 million euros to be added in five years. The group retains a 20 percent stake in the new dedicated structure. Even so, this partial disposal illustrates a priority on strengthening the balance sheet, which has been heavily strained in recent years by these property acquisitions, and on financial flexibility rather than direct ownership of real estate.

Middle East exposure: First quantified assessment

In an effort to provide greater visibility for the market, the group isolated the performance of its Middle East operations, a region accounting for 5 percent of its retail sales. While the start of the year was promising, the escalation of the conflict sharply reversed the trend from late February. Retail revenue in the region ended the quarter down 11 percent. Beyond the local impact, management is closely monitoring the potential repercussions for international tourist flows, traditionally a key consumption driver for the group’s Houses.

Jewellery and eyewear as stabilisers

While leather goods are being reorganised, the “Jewelry” and “Eyewear” segments are emerging as effective growth drivers:

• Kering Jewelry posted growth of 22 percent on a comparable basis, driven by the strength of Boucheron. The creation of a dedicated entity in March, led by Jean-Marc Duplaix, underlines the ambition to structure this division as an autonomous platform.
• Kering Eyewear delivered its best quarter on record at 489 million euros, boosted by the integration of leading licences such as Valentino.

Platform strategy and “ReconKering” plan

Kering’s overhaul is not limited to sales. The group finalised its strategic alliance with L’Oréal in beauty and created two centres of excellence, “Industry” and “Client”, to increase the operational efficiency of its Houses.

The high point of this transformation is expected on April 16, 2026, in Florence. The Capital Markets Day will provide an opportunity to outline the “ReconKering” plan, which is expected to set new medium-term margin and organic growth targets.

Interview

Prince is making a decisive swing, moving beyond the racquet and into apparel as the convergence of sport and fashion opens up fresh commercial opportunities for heritage performance labels.

The shift, overseen by the brand’s parent company Authentic Brands Group, reflects a broader evolution within racquet sports, where on-court credibility is becoming increasingly intertwined with off-court style.

Central to this push is a new partnership with C-Life Group, which will design, manufacture and distribute Prince apparel across North America. The deal spans men’s, women’s and kidswear, covering both on-court performance and off-court categories, marking a notable step in scaling the brand into a broader lifestyle business.

Speaking to FashionUnited, Tim Puttock, senior director R&D of Prince at Authentic, outlined the thinking behind the shift, discussing the timing of the apparel rollout, opportunities in a fast-growing racquet sports market, and how the brand plans to balance performance credibility with fashion relevance through a considered, omnichannel approach.

What specifically has prompted the shift for Prince to venture into apparel? Why has the brand decided to pursue an apparel-focused strategy now?

The convergence of sport and fashion has created a strong opportunity for Prince to expand beyond the racquet into apparel. Prince sits at the intersection of heritage racquet sport and modern lifestyle, a space that remains underdeveloped compared to running and basketball.

With tennis-inspired style influencing the mainstream, now is the right moment to leverage the brand’s authority in racquet sports to capture share in the fashion market. This move is supported by our partnership with C-Life Group, enabling us to bring this vision to market with speed and scale.

Tennis, padel, and pickleball are seeing unprecedented growth in both participation and cultural relevance. How will Prince leverage this momentum to appeal to both traditional players and younger, style-conscious consumers?

Across tennis, pickleball, and padel, today’s athlete is increasingly style-conscious, seeking products that perform on court while reflecting their personal aesthetic. Prince is uniquely positioned to meet this demand by staying at the forefront of racquet sports while introducing a fresh, design-led approach across new categories. This ensures we remain relevant to core players while engaging a new generation of consumers.

The current market shows a surge in racquet-sport apparel, yet many legacy brands have struggled to fully capture it. What lessons is Prince drawing from sectors like running or soccer, where fashion-conscious consumers now dominate?

Prince’s strength lies in its authentic heritage in tennis, which provides a credible foundation as we expand into apparel. The brand has long been a pioneer driven by innovation, and that same spirit will guide our approach to fashion. By staying true to our roots while evolving with consumer expectations, we can deliver products that resonate both functionally and culturally.

Lifestyle apparel often requires collaborations and/or pop-culture relevance. Are there plans for fashion-forward partnerships or influencer activations to position Prince as a modern lifestyle brand?

Collaborations are a key pillar of Prince’s strategy, particularly under the creative direction of David Grutman. In recent years, the brand has partnered with culturally relevant names such as Sporty & Rich, Siegelman Stable, and Brooks Brothers to name a few. We see strong value in these partnerships and will continue to explore collaborations that bring fresh perspective and cultural relevance to the brand.

How does Prince plan to balance its legacy in performance tennis equipment with ambitions in lifestyle and fashion apparel?

For over 50 years, Prince has been defined by innovation, distinctive colour stories, and a bold graphic identity. These elements remain central to our design approach as we expand into lifestyle apparel. Our goal is to ensure that every product reflects the brand’s heritage while offering versatility and relevance for modern, everyday wear by striking a thoughtful balance between performance credibility and lifestyle appeal.

E-commerce and online retail are growing rapidly in the sports apparel space. How will Prince balance digital-first strategies with traditional retail partnerships to maximise reach?

A strong omnichannel approach is critical to maximising reach. We’ve found an experienced partner who shares our vision for growth, while also maintaining strategic relationships with key retail partners. This balanced approach allows us to meet consumers wherever they choose to shop, ensuring accessibility and consistency across all channels.

What is Prince looking for in key retail partners, and how will this approach evolve as it expands into apparel and lifestyle?

We prioritise partners who understand and value Prince’s authenticity and heritage in sport. As we expand into lifestyle categories, it is equally important to work with retailers who can support a seamless transition from on-court performance to everyday wear.

Beyond North America, are there any geographical regions that present an opportunity for further growth for Prince?

Prince already has a strong international presence which provides a solid foundation for global expansion. We see significant opportunity to extend this brand equity into lifestyle categories across key international markets, bringing a consistent and elevated brand experience to consumers worldwide.

As the giants of the CAC 40 publish their quarterly results, an exclusive analysis by Reuters reveals the scale of the upheaval hitting the Middle East. Long considered the sector's last growth engine, the Gulf is now seeing its sales collapse due to geopolitical tensions with Iran.

Until now, major luxury groups like LVMH, Kering, and Hermès presented the Middle East as a resilient region, offsetting the slowdown in China. This perspective is now obsolete. According to information reported by Reuters, sales for the largest European houses plunged by 30 to 50 percent in March at the Mall of the Emirates in Dubai. Even more strikingly, footfall at the Dubai Mall, a global barometer for luxury shopping, reportedly dropped by 50 percent.

End of the Emirati 'safe haven'

Dubai is not just a local market; it is a re-export hub and a major shopping tourism destination for Russian, Indian, and European clients. The regional instability, marked by tensions between Iran, Israel, and the US, is shattering the United Arab Emirates' image as a 'secure bubble'.

While the Middle East accounts for only 5 percent of global luxury consumption, its contribution to marginal growth was crucial. Carole Madjo, an analyst at Barclays, noted that it was one of the few regions with double-digit growth in recent years. Seeing it falter now deprives these groups of their 'plan B' as China fails to recover.

Risk of contagion in the US

The analysis extends beyond the Gulf's borders. As highlighted by Reuters, analysts at Bernstein are now concerned about a domino effect. Instability in the Middle East does not just impact boutiques in Dubai:

• Energy prices: A sustained rise in oil prices weighs on household morale, even in the US.

• Travel inflation: The cost of airline tickets and insecure air routes are hindering global travel retail.

• The wealth effect: A stock market crash or increased volatility immediately reduces spending by so-called 'aspirational' customers.

High-stakes schedule

This revelation comes at a sensitive time for Kering, which is holding its Capital Markets Day in Florence this Thursday. Luca de Meo will undoubtedly have to answer much darker questions than anticipated about the group's geographical diversification. As for LVMH, while the group managed to limit the damage this quarter, the prospect of a return to normality that will “take months”—according to experts cited by Reuters—dampens hopes for a solid recovery in 2026.

The luxury sector is no longer just facing an economic slowdown cycle, but a forced reorganisation of its profit geography.

Madrid – A decisive step forward has been made in popularising circularity and the use of more sustainable fibres, following a strategic agreement between Spain's Recover and China's Prosperity Textile. Under this pact, the companies have agreed to jointly participate in the development, manufacturing and industrial-scale commercialisation of denim fabric fibres made from recycled cotton fibres.

To this end, as Recover announced in a statement, the Spanish company will contribute its accumulated experience as a leading industry player in recycling and the global production of high-quality, low-impact recycled cotton and cotton blend fibres, all produced on a large scale. The Chinese company, founded in 2002 in the city of Shaoguan, Guangdong province, will contribute its own expertise as a specialist with over 20 years of experience in denim fabric manufacturing. This production is not only carried out independently but also forms the basis of comprehensive solutions offered to brands and retailers worldwide. It currently has its main production centres in China and Vietnam, with an annual production capacity of around 100 million yards, approximately 91.44 million linear metres.

“Our collaboration with Prosperity Textile represents an important step in making it easier for brands to integrate circular materials beyond specialised collections into their main high-quality denim lines,” emphasised Anders Sjöblom, CEO of Recover. “Working closely with an industrial partner that has the technical expertise, innovative mindset and scale of Prosperity Textile will allow us to jointly develop denim fabrics that meet the real performance and quality expectations of global brands, while reducing reliance on virgin cotton.”

“By combining Recover's expertise in recycled cotton with our industrial manufacturing capabilities, we can offer competitive, large-scale denim fabrics that meet the performance, lead time and quality expectations of global brands,” added Stafford Lau, chief executive officer of Prosperity Textile. “This collaboration reflects our shared commitment to making high-quality, sustainable denim a viable solution for mainstream collections produced on an industrial scale.”

First samples from Kingpins Amsterdam

Describing their partnership as a “flexible collaboration” between Recover and Prosperity Textile, the alliance will allow both companies to develop scalable and sustainable denim fabric solutions. These can evolve over time depending on the needs, production volumes and final applications required by their clients. This will open the door to ad hoc solutions for companies, potentially extending to the finished garments already offered by both Prosperity Textile and Recover.

However, before taking the partnership to that scale, Recover's technologies for producing high-quality and consistent recycled cotton fibres will be combined with Prosperity Textile's manufacturing capabilities and denim expertise. This will initially be used to create a series of denim fabrics, which will be manufactured in Vietnam and marketed under the “Recover Fabrics” brand. This trademark was launched last November 2025 by the Spanish company as part of its business model diversification into marketing fabric and finished garments. It will also be used as an umbrella for marketing these denim fabrics developed with Prosperity Textile. The first samples of these textiles will be presented during the upcoming edition of Kingpins Amsterdam, which starts on April 15 in the Dutch capital.

“Designed as a scalable platform for the industrial production of denim fabrics, this collaboration guarantees quality, performance and long-term supply,” both textile companies stated. Regarding the commercialisation of these materials, “the first fabric developments will be presented to selected partner brands as part of both companies' shared commitment to accelerating circularity in the denim sector.” Furthermore, as a more visual and open preview, “to demonstrate the potential applications of the fabric collection, selected garments will be presented at Kingpins Amsterdam, serving as examples of how the fabrics can be applied in different denim products.”

Amazon announced on Tuesday the construction of a distribution centre in the Haut-Rhin region in France. It will be one of the largest in Europe, representing an investment of over 250 million euros and creating 2,000 jobs.

The building, located in the municipality of Ensisheim, will have a floor area of approximately 60,000 square metres and a total area of 189,000 square metres over three levels. The e-commerce giant told AFP that it is expected to open at the end of 2027. The company confirmed this will make it one of Amazon's largest logistics centres in Europe in terms of surface area.

“Dedicated to preparing customer orders, this site will incorporate the latest robotic technologies developed by Amazon,” according to a statement from the American company.

The group noted that in the Grand Est region, Amazon has invested over 1.5 billion euros since 2010. It already employs more than 4,000 permanent staff at its distribution centre in Augny (Moselle) and its two delivery agencies in Woippy (Moselle) and Strasbourg (Bas-Rhin).

In France, Amazon employs 17,000 people in its distribution centres and 5,000 in its sorting and delivery agencies.

Shopping centre operator Allos has signed a memorandum of understanding with investment firm Kinea, securing an agreement that aims to create a real estate investment fund, Kinea Allos Malls Fil, which will be co-managed by both companies.

According to the statement, the next step will be to raise funds through a primary share offering. The final offering volume is expected to be between 789.5 million and 1.97 billion reais. These funds will be used to acquire mature assets from the Allos portfolio.

The initial portfolio, with stakes depending on the final fundraising amount, will include 49 to 100 percent of Shopping Metrô Santa Cruz; 11 to 50 percent of Plaza Sul Shopping; and 10 to 12 percent of Shopping Villa-Lobos, all located in São Paulo. It also includes 5 to 15 percent of Bangu Shopping and 65 percent of Caxias Shopping, both in Rio de Janeiro; and finally, 12 to 40 percent of Shopping Parangaba in the capital of Ceará.

Strategic partnership

Kinea Allos Mall Fil will consolidate a strategic partnership between two of the biggest names in the real estate market. A reciprocal exclusivity agreement is planned between the two companies to carry out the operation until December 31, 2026.

“This new business vertical opens a growth cycle for Allos and creates recurring revenue from asset and fund management, supported by its positive track record in capital allocation. It also creates portfolio management opportunities and allows for joint acquisitions in the future without altering the company's current shareholder remuneration strategy. Allos will have an equal stake in the Fund's management, will be a unitholder with an initial 24 percent stake in the Fund, the administrator of the shopping centres and co-owner of some of the assets,” the statement said.

According to the material fact, the completion of the transaction is subject to certain preceding conditions, including the right of first refusal.

The US fashion rental platform Rent the Runway has reported a significant expansion of its active subscriber base and a return to net income for the fiscal year 2025 ended January 31, 2026. The company attributed these results to a strategic decision to increase inventory investment, which served as the primary driver for improved customer loyalty and retention.

“Last year, we made a calculated bet that increasing our inventory investment was the strongest lever to unlock growth,” said Jennifer Hyman, co-founder and chief executive officer of Rent the Runway. Hyman noted that the strategy has resulted in the company operating from its “strongest financial position in years.”

Q4 and fiscal year 2025 financial performance

For the full fiscal year 2025 (FY25), the company reported revenue of 329.80 million dollars, marking a 7.7 percent increase year-over-year (YoY). Net income for the period reached 22.60 million dollars, a substantial recovery from the 69.90 million dollar loss recorded in the previous year.

The average active subscriber count rose by 8.3 percent YoY to 143,558. However, EBITDA declined to 24.90 million dollars from 46.90 million dollars in FY24, with the EBITDA margin narrowing to 7.6 percent from 15.3 percent.

Performance accelerated in the fourth quarter of fiscal year 2025, with revenue reaching 91.70 million dollars, up 20 percent compared to the same period in the prior year. Active subscribers reached 143,796 by the end of the quarter, representing 20.1 percent growth YoY. Subscription add-on revenue proved to be a significant growth lever, increasing by 67 percent YoY in the fourth quarter.

AI integration and marketplace expansion

Rent the Runway is shifting its focus toward technological integration and revenue diversification for fiscal year 2026 (FY26). In March 2026, the company launched a marketplace pilot program, offering curated wardrobe essentials including shoes and beauty products. A 2025 customer survey indicated that 86 percent of subscribers are interested in purchasing such complementary items.

The platform is also undergoing a digital transformation, moving from a traditional e-commerce grid to an AI-powered discovery model. Recent updates include a new search algorithm launched in February 2026, which improved subscription conversion rates by 10 percent, and an AI-driven ‘similar styles’ recommendation engine.

Outlook for fiscal year 2026

The company issued a positive outlook for FY26, projecting double-digit revenue growth driven by continued product and inventory enhancements. For the first quarter of fiscal year 2026, Rent the Runway expects revenue between 85 million and 87 million dollars.

While inventory investment was a priority in FY25, the company plans to moderate this spend in the coming year. Rental product acquired is expected to be between 45 million and 50 million dollars in FY26, down from 74.90 million dollars in the previous fiscal year.

The Irish government has launched a new strategy to overhaul the national textile industry, with the mission of shifting from a linear “take-make-waste” model to a circular economy. With the unveiling of the Whole of Government Economy Strategy 2026-2028 and the first-ever National Policy Statement and Roadmap on Circular Textiles, Ireland is introducing mandatory accountability for brands and retailers.

The strategy intended to address Ireland’s post-consumer textiles industry, which currently generates over 110,000 tonnes of textiles annually, with an average consumption rate of 53 kilograms per person, making it one of the highest textile consuming regions in the EU. The government is therefore looking to move beyond voluntary guidance toward a regulated framework that places the financial and operational burden of waste on the industry.

DPPs and EPR

At the core of the new roadmap is the introduction of Extended Producer Responsibility (EPR). By April 2028, fashion brands and retailers placing products on the Irish market will be legally required to fund the cost of collecting and managing used textiles.

In a statement, minister of state, Alan Dillon, said: "Far too much of our used textiles currently end up being disposed of as waste in our bins. Today I am launching policy and practical measures to change this, to move us closer to a circular economy for textiles. The Policy Statement has a range of measures that will promote circular design, so that textiles last longer and are easier to reuse and repair. The actions in the Policy Statement make the fashion and textile industry responsible for its textile waste."

To support the EU Ecodesign for Sustainable Products Regulation (ESPR), Ireland is also prioritising the rollout of digital product passports (DPP) for textiles. Akin to those due to be introduced in the EU, these passports will serve as digital identity for garments, providing standardised, machine-readable information.

Strategic goals and stewardship

The strategy further acknowledges the price gap between repair and replacement as a notable barrier to circularity. To counter this, the government is launching several initiatives:

• National Pilot Repair Voucher Scheme: Supported by the Circular Economy Fund and set to roll out by 2027, this scheme will reduce repair costs to encourage consumers to act as “stewards” rather than just purchasers.

• Repair and Reuse Hubs: Supporting local authorities in developing dedicated facilities for textile upcycling and professional repair.

• Public Awareness Campaigns: A new nationwide campaign via MyWaste.ie will educate the public on proper donation protocols to ensure used clothing has the highest chance of reuse.

The roadmap ensures industry stakeholders begin aligning with these measures imminently as part of Ireland’s broader climate action agenda. Minister Darragh O’Brien said the strategy was imperative from an economic and environmental point of view, adding: “Nearly half of global greenhouse gas emissions come from how we make and use goods, food and materials. By embedding circularity across our economy, we can cut those emissions at the source – long before they reach our atmosphere. This is not simply an environmental project; it is a cornerstone of our climate action agenda."

Measurable targets have now been laid out by the government to ensure the success of the transition, with a focus on domestic infrastructure and industry innovation. A primary objective is to increase Ireland’s Circular Material Use Rate by two percentage points annually, with the goal of reaching a 12 percent benchmark by 2030.

Supporting this metric is a commitment to ensuring that nationwide, full, and enhanced separate textile collection systems are active by 2030, providing feedstock for a circular loop. Beyond waste management, the strategy further seeks to strengthen Ireland’s position as a global centre for sustainable design, fostering innovative circular business models and eco-design solutions tailored for Irish retailers.

Lululemon is facing an investigation from Texas attorney general Ken Paxton over concerns related to product safety and transparency.

According to a press release issued by the attorney general’s office, Paxton has launched a Civil Investigative Demand against Lululemon Athletica as part of a formal inquiry into whether the Canadian activewear giant misled consumers about the safety of its products.

The probe will specifically assess whether certain products contain PFAS, commonly known as “forever chemicals”, which do not break down easily and have been linked to health risks, including infertility and cancer.

The attorney general intends to examine whether Lululemon’s marketing as a wellness-focused and sustainable lifestyle brand aligns with its manufacturing and supply chain practices.

Investigators are currently reviewing the company’s internal Restricted Substances List, its chemical testing protocols, and its broader supply chain oversight to determine if the products comply with safety standards.

In a statement, Paxton said: “Americans should not have to worry if they are being deceived when trying to make healthy choices for themselves and their families.

“I will not allow any corporation to sell harmful, toxic materials to consumers at a premium price under the guise of wellness and sustainability. If Lululemon has violated Texas law, it will be held accountable.”

In a statement emailed to The Associated Press, Lululemon, which confirmed cooperation with Texas authorities, stated that it hadn’t used PFAS in its products since phasing out the substances in 2024.

The chemicals had previously been applied across a small portion of the brand's assortment for water-repellent treatments, Lululemon explained, yet are no longer in use.

The company added: “The health and safety of our guests is paramount, and our products meet or exceed global regulatory, safety, and quality standards. We require all our vendors to regularly conduct testing for restricted substances, including PFAS, by credible third-party agencies to confirm ongoing compliance.”

French luxury leader Kering, held back by difficulties at Gucci, is facing a decisive moment. This week, the group will present its new roadmap during a highly anticipated investor day in Florence.

All eyes are on the speech by Italian Luca de Meo, the group's chief executive officer, at the Capital Markets Day on Thursday in Gucci's birthplace. The stakes are high for the former Renault boss, who was appointed by François-Henri Pinault last June. He must demonstrate that Kering can restore the desirability of its houses, including Yves Saint Laurent, Bottega Veneta and Balenciaga, in a significantly slowing global market.

Urgent recovery for Gucci

While the luxury sector is going through a less prosperous period, Kering has particularly suffered from a decline in popularity for its flagship brand, Gucci, which accounted for approximately 40 percent of its turnover last year. The brand was heavily penalised by its underperformance in China, which has long been its main growth driver.

The figures speak for themselves. In 2025, Kering's sales fell by 13 percent to 14.7 billion euros (17.31 billion dollars), with net profit divided by more than ten. For Gucci alone, the decline was even more severe, with sales of six billion euros compared to 10.5 billion three years earlier.

De Meo method: deleveraging and financial agility

Upon his arrival, the captain of industry set a brisk pace to clean up the finances. Kering quickly sold its beauty division to the giant L’Oréal for four billion euros and postponed the acquisition of Valentino by two years.

The group, which will unveil its first-quarter sales this Tuesday after the market closes, has also increased its real estate disposals. In early April, it sold a majority stake in a prestigious Milan building for over one billion euros. As a result, at the end of 2025, debt stood at eight billion euros, 2.5 billion less than a year earlier.

Managerial “gamble” that is paying off

For Luca Solca, an analyst at Bernstein, the choice of Luca de Meo is paying off: “A gamble had to be taken because things were going badly. Someone was needed who could potentially make a difference very quickly, and Luca de Meo proved to be the right choice in this respect,” he told AFP.

Anne-Laure Bismuth from HSBC bank agrees: “Luca de Meo's arrival was a bit surprising because he doesn't come from the luxury industry, but he brings a new vision (...) with different processes.” HSBC also anticipates a return to growth as early as 2026, with a projected 5 percent increase for the group.

Diversification and end of “over-dependence”

Internally, the transformation is accelerating. Francesca Bellettini has been appointed CEO of Gucci, and two new divisions — industry and clients — have been created to optimise operational efficiency.

Kering is also seeking new growth drivers in jewellery (Boucheron, Pomellato) to reduce its “over-dependence” on Gucci, a term used by Luca de Meo himself in an internal memo at the end of 2025. Now relieved of debt stress, the executive can focus on the core issue: reigniting the creative flame of its brands.

A commercial court has ruled in favour of Amoniss' proposal in the JOTT case.

After being placed into administration, the Marseille commercial court has selected the offer from the Amoniss group to take over JOTT (Just Over The Top), a French brand of lightweight down jackets positioned in the accessible premium segment.

The successful bid includes a sale price of approximately three million euros, a plan to retain a portion of the jobs (a minimum of approximately one hundred employees) and the takeover of part of the store network.

As a reminder, the Amoniss group is an investment company based in the Lille region, in Villeneuve-d'Ascq. It is led by Salih Halassi and already owns the brands Chevignon, Lee Cooper and the retailer Pimkie (acquired in 2023 from the Mulliez family).

Amoniss received the majority of votes from the stakeholders in this case: the administrator; the court-appointed representative; the wage guarantee scheme (AGS); the bank; and others.

In addition to reviving a regional brand, the acquisition by this fund signals a collectively chosen model for the French fashion industry.

This is especially true since the 'MARS' takeover project, led by JOTT executives and supported by the Social and Economic Committees (CSE), the AGS and Cepac, was not selected by the court.

Takeover confirmed, a project to be built

The northern-based group aims to take over 77 points-of-sale (21 branches, 16 affiliates, 40 franchisees) and 'at least' one hundred employees out of the 240 currently employed in the stores and at the Marseille head office.

“This decision now opens a new, equally decisive phase: that of the industrial, strategic and regional project that will be carried forward in the coming months and years,” stated Jocelyn Meire, president of Mode in Sud, a key player in the fashion industry in the Sud region, in a press release.

“To Amoniss, I want to say that Mode in Sud will approach this new stage with an open mind, but also with high expectations. The success of this project will depend on its ability to establish a lasting presence in its home territory. It must also preserve the brand's identity and engage in dialogue with the key players in its natural environment.”

“We will be there to support, propose and structure — but also to ensure that the implicit commitments linked to this takeover are put into concrete action.”

Mode in Sud is available to the new owners to quickly open a demanding and constructive dialogue that meets the challenges at hand.

Sales at the world's leading luxury group, LVMH, fell six percent in the first quarter of the year as the war in the Middle East depressed business in the region.

The company, best known for Louis Vuitton handbags, Dior fashion, Moet & Chandon champagne and Tiffany jewellery, registered 19.1 billion euros ($22.4 billion) in sales in January through March. On an organic basis - excluding exchange rate fluctuations and changes in the business - sales rose by one percent.

"LVMH maintained its powerful innovative momentum and showed good resilience in a geopolitical and economic environment that remained disrupted, amplified by the conflict in the Middle East," the company said in a statement. The company said the war launched by the United States and Israel on Iran "had a negative impact of around one percent on organic growth for the quarter", but expressed hope that it would make up for lost sales once consumers return to shops.

The conflict, which saw Iran launch missile and drone strikes against its Gulf neighbours, severely impacted air travel through the region -- a key hub for long-haul flights between Europe and Asia, and disrupted transport of oil and gas through the Strait of Hormuz.

The Middle East region accounts for around six percent of LVMH's sales. LVMH, like other luxury groups, has suffered in recent year from the slowdown in growth in China, evoked positive trends there as well as the United States.

The spike in trade tensions between the two countries last year contributed to a five percent slide in LVMH's sales to 80.8 billion euros.

LVMH saw net profits fall 13 percent in 2025 to 10.9 billion euros, mostly due to an exceptional tax on large French companies.

The fashion and leather goods segment - LVMH's biggest - saw sales slide nine percent in the first quarter of 2026 from the same period last year. It was also the only product segment to contract on an organic basis. (AFP)