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Online fashion retailer Boohoo sees surge in sales

Online fashion retailer Boohoo recently unveiled its sales report for the year ended February 28, 2017. In the reporting period, the company’s net sales totalled £ 294.6 million from £ 195.4 million in 2016, while gross margin remained 54.6 per cent from 57.8 per cent in 2016. According to the release issued, Boohoo’s revenue grew 33 per cent in the UK, more than 50 per cent in Europe, 140 per cent in the US and […]

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Fashion brand H&M named ‘Top Global Employer’: Report

Swedish fashion brand Hennes & Mauritz (H&M) has been named as Top Global Employer in Business of Fashion’s first ever annual report on The Best Companies to work for in Fashion in 2017. Karl-Johan Persson, CEO, H&M Group stated, “Working at H&M was not just a job but a long-term fashion career for those in the fashion industry. Our colleagues are our greatest strengths that contributed to our success and growth.” The report by Business of Fashion provides an objective […]

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Apparel retailer Bebe to shut all its stores

Barely a month after announcing its plans to explore strategic alternative options to boost the brand’s presence and sales by cutting down on positions, international apparel retailer Bebe Stores Inc. has announced that it will be shuttering down all of its stores by the end of May, this year. The struggling fashion retailer has planned to liquidate all merchandise and fixtures present within the stores, it disclosed in a regulatory filing on Friday. Also Read […]

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H&M revives its India strategy, plans to open a store every month

In view of rising competition from global rivals like Zara and GAP in India, Swedish fashion retailer Hennes & Mauritz (H&M) is moving towards expansion plan in the country. The retailer is planning to increase its sales by opening brick and mortar stores. It aims to add six to eight over stores by the end of this year. H&M has started 16 stores since it ventured into Indian market 18 months ago. “Worldwide, sales through […]

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Lindex releases 2016 Sustainability Report

Lindex, a Swedish fashion retailer, has released its Sustainability Report for 2016. The company shows progress within several areas as a result of a dedicated sustainability work with partnership, innovation and transparency in the centre. “Sustainability is essential in our business at Lindex. I am very proud of our great results and the dedication of Lindex employees and partners who drive change and improvement every day. We continue to work towards our goal that 80 […]

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Acne Studios opts for Centric PLM solution

Acne Studios, a Swedish high-fashion brand, has selected Centric Software to provide its product lifecycle management (PLM) solution in order to facilitate proper communication between departments and spend more time developing better products. “Centric is focused on fashion and retail businesses. They understand us as a company and we know we can build great things together. We can learn a lot from best practices and improve our processes from those learnings. Also, we don’t have […]

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Fashion retailer Kate Spade’s net sales dips 1.2%

Kate Spade & Company, a US-based fashion retailer of women’s and men’s apparels and accessories, has announced the financial results for the first quarter ended April 1, 2017. The company’s net sales stood at US $ 271 million, down by 1.2 per cent compared to corresponding quarter last year. In the reporting period, direct-to-consumer comparable sales of the fashion brand declined 2.4 per cent. Selling, general & administrative expenses totalled US $ 165 million as against US $ 152 million in the […]

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Carlyle Group acquires Italian fashion brand TWINSET

US-based private equity group Carlyle Group has taken control over Italian fashion brand TWINSET by acquiring the remaining 10 per cent stake of the label. Earlier, Carlyle bought 72 per cent of the fashion brand in 2012 and went on to raise its stake to 90 per cent in 2015 to oversee the Group’s retail expansion. The company bought the remaining stake from Simona Barbieri, Founder, TWINSET, who will step down as the affordable luxury […]

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UNIQLO to open third store in Canada

Japanese fast fashion brand, Uniqlo, has announced the opening of third store in Canadian market. The store will be located at Metropolis at Metrotown in Burnaby, British Columbia, the largest mall in the province and third largest in Canada. Spread over 20,630 sq. ft., the store will offer the fashion brand’s full range of core items of men, women, kids and babies. It will also include the brand’s signature collections including AIRism, HEATTECH, Cashmere and Ultra […]

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Jaeger seeks buyer; appoints administrator

UK fashion chain Jaeger has collapsed into administration which has put 680 jobs at risk. AlixPartners has been appointed as administrator for a suggested price of Pound 30 million after Better Capital, owner of Jaeger had been unable to find a buyer. Alix said Jaeger would continue trading, further adding, “Our focus now is in identifying an appropriate route forward and work with all stakeholders to do this. We will ensure that we communicate further […]

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Abercrombie & Fitch joins hands with Zalora

An agreement has been signed between American fashion brand Abercrombie & Fitch Co. and Asia’s leading online fashion retailer ZALORA. Starting next week, ZALORA will offer Hollister merchandise through its online stores, followed by Abercrombie & Fitch products launching later this month.   Founded in 2012, ZALORA has presence in 11 countries, including Singapore, Indonesia, Malaysia & Brunei, the Philippines, Hong Kong and Taiwan. This partnership will provide Abercrombie & Fitch access to more than […]

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BCBG expects court decision on licensing agreement this month

BCBG (bon chic, bon genre) Max Azria Group Inc., the renowned American fashion house founded by designer Max Azria, is expecting to get court decision on licensing agreement with Global Brands Group this month. The court may announce its decision on April 27. The fashion retailer filed a plea in US Bankruptcy Court for Chapter 11 bankruptcy protection to restructure its business as an e-commerce entity and focus on licensing and wholesale last month. The […]

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Louis Vuitton faces labourers’ protest over wages

A group of leather workers, upset over Louis Vuitton’s management failure to meet wage expectations, reportedly staged protest at the French fashion house. The hour-long walkout on Wednesday started with employees gathering in front of their various production facilities across France at 7:30 a.m. Later they were invited for talks. This is the second labour protest at Vuitton in a span of 15 years. The company had reportedly offered a gross raise of Euros 30 […]

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C&A to launch C2C gold certified T-shirts

Dutch clothing fashion retailer C&A has announced the commencement of circular fashion with the launch of its Cradle to Cradle (C2C) gold certified T-shirts. With this, C&A will become the first ever fashion chain worldwide to bring out C2C certified T-shirts in June 2017. The certified T-shirts follow the cycle of use, reuse and rebirth of clothing. Launched in partnership with the C&A Foundation, they are made of 100 per cent organic cotton, produced using only chemicals designed […]

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Forever 21 to expand F21 RED in US with 40 new stores

Forever 21, an American fast fashion retailer, is expanding the reach of F21 RED stores for family-friendly shopping, with plans to open more than 40 new retail locations across the United States in current year. The first three are scheduled to open in the month of April, in San Antonio, Texas; Bronx, New York, and Chicago. The opening of new stores throughout the year will bring the fashion brand’s total store count to more than […]

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