H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid COVID-19 lockdowns and it has received backlash against companies that refuse to use Xinjiang cotton.
After leaving his position as CEO of French event sales site Showroomprivé in December, Thierry Petit has sold his 17.61% stake in the company. Eric Sitruk, soon to own a 7.5% stake, is set to become a board member.
One reason Paris remains the world’s greatest fashion capital: the city is so photogenic. Underlined by a spectacular Ami sunset show at the Sacré Coeur and an Amiri catwalk display in the charming Jardin des Plantes.
German online fashion e-tailer Zalando has been forced to revise its guidance for the year. It cited a further deterioration in macroeconomic conditions as the EU consumer confidence index fell further in June.
Scotch & Soda is continuing its European expansion plans and has just opened its first directly operated store in Italy. It’s located on Milan’s Via Alessandro Manzoni, one of the main fashion destinations in the city.
Loro Piana has announced the winners of the sixth edition of its international Knit Design Award competition. The winners were students Po-Chieh Chiu and Shanon Poupard from the Institut Français de la Mode, Paris.
The second-hand clothing company has changed its name, is focusing on providing services for brands and retailers, and raising another €12 million from the same funds with which it had already raised €7 million in 2021.
London-based jewellery brand Astrid & Miyu has marked its 10th anniversary with the debut of its first permanent international store in New York. The opening follows a number of pop-ups in the city in previous years.