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Cotton prices in India soar as demand rises & stock depletes

Cotton prices in India soar as demand rises & stock depletes

Strong demand from the cotton market and depleting stocks in addition to 10% import duty levied on cotton have collectively caused cotton prices in India to soar.
Fashion
Facebook's Kustomer deal may hurt competition, EU regulators say

Facebook's Kustomer deal may hurt competition, EU regulators say

Facebook's acquisition of U.S. customer service startup Kustomer may hurt competition and boost its market power in online ads, EU antitrust regulators warned Monday as they opened a major investigation into the deal.
Fashion
German retail sales jump for second month in a row

German retail sales jump for second month in a row

German retail sales increased much more than expected in June following an easing of Covid-19 restrictions, supporting a consumer-driven recovery in Europe's largest economy.
Fashion
Square to buy Afterpay for $29bn as buy now, pay later booms

Square to buy Afterpay for $29bn as buy now, pay later booms

Square, the payments firm of Twitter co-founder Jack Dorsey, on Monday said it has agreed to purchase buy now, pay later (BNPL) pioneer Afterpay, offering a 30% premium in a giant share-swap deal
Fashion
Guichot becomes SMCP chief as Lalonde quits for new opportunity

Guichot becomes SMCP chief as Lalonde quits for new opportunity

​Big change is coming at SMCP. On Monday, the Sandro, Maje, Claudie Pierlot and Fursac owner named Isabelle Guichot as its new CEO, to replace Daniel Lalonde who’s off to pastures new.
Fashion
Private equity firm CD&R prepares Morrisons counter-bid - report

Private equity firm CD&R prepares Morrisons counter-bid - report

Private equity firm Clayton, Dubilier & Rice (CD&R) is poised to start a bidding war for British supermarket chain Morrisons, the target of a £6.3 billion ($8.8 billion) offer from a group led by another U.S. firm.
Fashion
Vans helps drive recovery at VF Corp

Vans helps drive recovery at VF Corp

The Denver, Colorado-based outdoor and activewear group reported first-quarter revenue of $2.2 billion on Friday, up 104% from $1.1 billion in the prior-year period, with growth led by the Vans brand.
Fashion
Mirabaud Lifestlye Impact & Innovation invests in Highsnobiety

Mirabaud Lifestlye Impact & Innovation invests in Highsnobiety

The investment fund launched by Swiss banking and financial group Mirabaud last year has acquired a stake in the German platform dedicated to streetwear. 
Fashion
Aeffe sees first-half profits soar compared to 2019

Aeffe sees first-half profits soar compared to 2019

The Italian group achieved revenue of 155 million euros in the first six months of 2021, up 30% year over year, but down 10% compared to 2019, while net earnings tripled in the two years, totaling 17.4 million euros. 
Fashion
Pitti Uomo announces another 3-day edition for January

Pitti Uomo announces another 3-day edition for January

In January, the Florentine event organizer is planning to replicate the format it explored in June, hosting its two flagship trade shows, Pitti Uomo and Pitti Bimbo, simultaneously from January 11 to 13, 2022.
Fashion
Michael Kors, Versace parent Capri beats revenue estimates

Michael Kors, Versace parent Capri beats revenue estimates

Michael Kors parent Capri Holdings Ltd on Friday raised its annual forecasts for the second time after trouncing Wall Street estimates for quarterly results, as shoppers splurge on its high-end clothes and bags.
Fashion
Online retailer Boohoo to move to new auditing model for suppliers

Online retailer Boohoo to move to new auditing model for suppliers

Online fashion retailer Boohoo said on Friday it would move all of its suppliers to a new auditing model over the next 12 months in its latest effort to address failings brought to light in media reports a year ago.
Fashion
Amazon hit with $886 million EU data privacy fine

Amazon hit with $886 million EU data privacy fine

Amazon has been hit with an $886.55 million (746 million euro) European Union fine for processing personal data in violation of the EU's General Data Protection Regulation (GDPR), the e-commerce giant said on Friday.
Fashion
Poor conditions persist in Leicester garment factories - report

Poor conditions persist in Leicester garment factories - report

Exploitation of garment workers is continuing in Leicester's textile industry, a new report claims, a year after an exposé highlighted abuses in the supply chain. This is despite measures to safeguard employees.
Fashion
Retail decline: one in seven UK stores are vacant says new report

Retail decline: one in seven UK stores are vacant says new report

Just how tough UK retail’s pandemic mauling has been — especially for fashion — came into stark focus on July 30. More than one in seven stores are now vacant on UK high streets, retail parks and in shopping centres.
Fashion
Klarna launches support package for small businesses

Klarna launches support package for small businesses

Global payments and and shopping services provider Klarna has launched a £3 million Small Business Support Package to help British small- and medium-sized enterprises (SMEs) recover from the pandemic.
Fashion