Big name retailers such as Inditex, Amazon and Patagonia have joined the Cargo Owners for Zero Emission Vessels (coZEV) coalition, pledging to achieve zero carbon shipping by 2040. Joining a new cargo owner led network facilitated by the Aspen Institute, a large group of companies have announced their intentions to switch all of their ocean...
Oct. 21, 2021
H&M’s (HMb.ST) sales grew less than expected from a year ago in the three months through August, and remained lodged below pre-pandemic levels. The company reported sales of £4.7billion at H&M in the three months to the end of August were down 11 per cent on the pre-Covid equivalent two years earlier. Indeed, H&M Group’s growth was slower than...
Sep. 17, 2021
Inditex, the world’s largest fashion retail group, has presented half-yearly results that show - in the words of Pablo Isla, CEO of the company - that its “competitive position is stronger than ever.” The group’s shares have swept the stock market, reaching highs not seen since 2012. Earnings before interest, taxes, depreciation and amortization...
Inditex registered a profit of 850 million euros and invoiced 6,993 million euros between May and July of this year. These results represent an improvement of 48 percent over the comparable 2020 period and a 1.2 percent jump from the same quarter of 2019. Quarterly revenues not only exceeded market forecasts but have become the second best in...
The Inditex Group reported revenue of 11.94 billion euros in the first-half, representing growth of 49 percent year-on-year or 53 percent in local currencies. Net profit amounted to 1.27 billion euros compared with a loss of 195 million euros in the first half of 2020. The company’s second-quarter revenue grew 7 percent in local currencies to...
Sep. 15, 2021
Zara owner Inditex has announced an acceleration of a number of sustainability targets, including a new aim to achieve net-zero emissions by 2040, ten years earlier than previously planned. The fast fashion giant also aims for all the cotton it uses to be “more sustainable” by 2023, two years ahead of schedule, and for all energy in its direct...
Jul. 14, 2021
Despite bold pledges to create a more sustainable future, global fashion brands continue to rely on plastics by using synthetic fibres in their collections. According to a report by Changing Markets these fibres are fueling plastic waste and the climate crises due to the fossil fuels needed to make them. Rampant greenwashing 59 percent of claims...
Jul. 9, 2021
On the eve of China’s 100th year anniversary celebration of its Chinese Communist Party, France launched an investigation into the “concealment of crimes against humanity” by global textile giants, including Inditex and Uniqlo, who stand accused of having profited from the forced labour of Uighurs. France’s National Anti-Terrorism Prosecutor’s...
Jul. 2, 2021
Spanish fashion giant Inditex has reported soaring sales in the first quarter of the year as it swung to a profit. For the three months ended April 30, sales soared 50 percent to 4.9 billion euros compared to last year when the company was hit hard by global store closures amid the first wave of the pandemic. Compared to pre-Covid 2019 levels of...
Jun. 9, 2021
Spanish apparel giant Inditex, which owns Zara, Zara Home, Massimo Dutti, Bershka, and Pull & Bear, has ventured into the world of gaming. Via its youth brand Pull & Bear, the company has launched ‘Pacific Game’, an augmented reality (AR) game available on Facebook and Instagram. The game forms a part of Pull & Bear’s ‘Pacific girls’ collection,...
May 5, 2021
2021 marks the 50th Anniversary of Starter, the athletic brand established in 1971, owned by Iconix Brand Group. To mark the occasion, the Starter brand has launched a partnership with Inditex owned brand Zara to develop and sell a capsule collection for spring/summer 2021. The Starter brand quickly rose to global stardom by connecting fans with...
Apr. 1, 2021
On Thursday, China, backed by the Chinese government itself, started retaliating against the Western boycott of cotton produced in the ‘Uyghur labor camps’ of Xinjiang, calling for its own boycott against international fashion companies. The boycott primarily affected Swedish retail giant H&M on Thursday, but is now also being launched against...
Mar. 26, 2021
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