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JD.com invests £ 315.5 million in Farfetch

A strategic deal has been inked between Farfetch, a global fashion e-commerce platform and JD.com, one of China’s biggest e-commerce companies, to help former to crack Chinese market. As part of the deal, the luxury fashion retailer has received a funding of around £ 315.5 million from JD.com which has made it one of Farfetch’s largest shareholders. Its CEO Richard Liu will now join Farfetch’s Board. London-headquartered Farfetch grown into a truly global company since […]

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Japan’s apparel sales tumble in May

After witnessing rise in apparel sales in April this year, first time since November 2016, Japan again reported drop in sales at both department stores and chain stores in May. According to Japan Department Stores Association, same-store apparel sales at 229 member stores in the said month decreased by 3.1 per cent to 149,395 million yen. The statistic shows that apparel sales of menswear decreased by 2 per cent to settle at 33,564 million yen; […]

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Sears Canada files for bankruptcy

Sears Canada Inc. has announced that Sears Canada and certain of its subsidiaries have applied in Ontario Superior Court of Justice (Commercial List) for protection under the Companies’ Creditors Arrangement Act (“CCAA”), in order to continue to restructure its business operations. Over the past 18 months, Sears Canada embarked on a reinvention plan that has now begun to gain traction with customers. The retailer rebuilt its front and back-end technology platform, redefined its brand positioning, […]

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Old Navy opens maiden store in Vietnam

Fashion brand Old Navy has opened its first store in Vietnam. The store, which is located on the lower B1 floor of Vincom Center on Dong Khoi Street in Ho Chi Minh City, was inaugurated by Louis Nguyen from ACFC, a subsidiary of IPP Group, the Vietnam franchisee of Old Navy and sister brand GAP, and representatives from GAP Inc. “We are very excited about Vietnam and we have recognized that there is such a […]

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The Children’s Place to open stores across Southeast Asia

The Children’s Place, the largest pure-play children’s speciality apparel retailer in North America, is all set to unveil new stores across Southeast Asia. The firm has signed a development agreement with Singapore-based Gill Capital covering Singapore, Indonesia, Thailand and The Philippines. Initially, 25 retail stores will be opened in Indonesia, followed by launch of stores in other countries. “Our company chose Gill Capital because of its proven track record of operating successful brands in Southeast […]

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3.1 Phillip Lim opens store in Hawaii

3.1 Phillip Lim has opened its fourth retail location in the US at Waikiki International Market Place in Honolulu, Hawaii. The opening of the new store was announced in May and marks the brand’s 17th global retail location. Spread across 1,100-square-foot, the Hawaii store features the brand’s new studio concept that debuted at the LA Arts District location. The interiors have been designed by MR Architecture + Decor and feature a minimal décor that draw […]

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Clothing sales slightly up amidst falling US retail market

Amidst dwindling retail sales in May, the US witnessed a rise in clothing sales. Sales at clothing and accessories retailers in the month were up 2.1 per cent to US $ 21.94 billion from US $ 21.49 billion year-on-year. New figures from the US Census Bureau highlight that total retail sales were down 0.3 per cent in May on the month prior, the biggest drop since January 2016. The statistics also show that the reversal […]

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Dick’s Sporting Goods to open two new stores

The largest US-based full-line omni-channel sporting goods retailer, Dick’s Sporting Goods has announced to open two new stores in two states… The grand opening events will be held for stores in Milpitas, California from June 16-18, and Oak Ridge, Tennessee from June 30-July 2. “We’re excited to expand our presence in Milpitas, California and Oak Ridge, Tennessee in the coming weeks. The love for sports and the outdoors in these markets provide us with a […]

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Asics to open Onitsuka Tiger stores in India

With an aim to expand its presence in India, Japanese sportswear brand Asics is all set to launch retail outlets for its lifestyle brand Onitsuka Tiger later this year. The brand is currently available in India through Madura Fashion & Lifestyle’s multi-brand store, The Collective. “Our first store of Onitsuka Tiger will come up in September and we will add one more store by end of the year. We will assess the consumer response to […]

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Tesco reveals Q1 trading statement

UK-based multinational retailer Tesco has noted 1.3 per cent growth in customer transactions – 10 million more than last year during the first quarter of the year. The retailer’s like-for-like sales growth stood at 1.0 per cent. Tesco also noted positive customer response to ‘Little Helps to Healthier Living’ campaign. International sales performance reflects a decision to discontinue unprofitable bulk selling activity in Thailand. “In tough market conditions, we have stayed true to our commitment […]

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Mulberry’s revenue swells

British fashion giant Mulberry Group has announced preliminary results for the year ended March 31, 2017. During the year under review, the retailer’s revenue increased by 8 per cent to 168.1 million pounds. Key elements of the growth have been product launches, retail, digital and omni-channel enhancement and selective wholesale. Global digital sales were up 19 per cent to 25.5 million pounds in the said period, accounting for 15 per cent of group revenue. Retail […]

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NIKE to cut global workforce by 2%

US-based sports giant, NIKE which currently employs 70,700 people worldwide, has decided to cut workforce by 2 per cent. A total of around 1,400 employees may face job cut as the retailer is streamline its operations. “This new structure aligns all of our teams toward our ultimate goal – to deliver innovation, at speed, through more direct connections,” Trevor Edwards, President of NIKE said in a statement issued by the company. Also, the company expects […]

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Elie Tahari inks licensing deal with IHL Group

Israeli CFDA designer Elie Tahari has announced a new licensing deal with New York City-based IHL Group to develop, produce, and distribute intimate apparel and sleepwear for men, women and children. According to the six-year deal, trend-driven lingerie company IHL Group will exercise the exclusive rights for the Elie Tahari intimates and sleepwear collection for all retail channels in North America, including department stores and specialty stores. Scheduled to launch in July 2018, the collection […]

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Global Brands Group’s revenue soars

Global Brands Group, a branded apparel, footwear and fashion accessories company, has announced financial results for the year ended March 31, 2017. During the year under review, revenue grew by 11.6 per cent year-on-year, despite challenging business environment. The Group’s revenue reached US $ 3,891 million during the reporting period. Total margin has also continued to surge, increasing from 33.9 per cent to 36.4 per cent as a percentage of revenue. Operating costs increased to […]

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H&M’s sales surge

H&M, the Swedish multinational fast fashion brand, has announced the sales development for May 2017. Group’s sales including VAT increased 4 per cent in local currencies in the review period compared to corresponding month previous year. Also, the fashion brand witnessed a jump of 8 per cent when converted into SEK. In the first half of the month, sales were affected by tough market conditions in several countries. However, it improved considerably in the second […]

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