The News In Brief
Italy’s Cucinelli Posts 10.7% Increase in First Half Revenues
The Italian luxury label posted stronger-than-expected revenues and reaffirmed double-digit growth targets through 2026.
Ralph Lauren CEO Sees ‘Resilient’ Demand Amid Tariff Uncertainty
Demand for the American luxury brand’s signature cable-knit sweaters and other core products remains strong.
UK Arrests Four Linked to M&S, Harrods Cyberattacks
The UK’s National Crime Agency detained three teenage males and one 20-year-old female in the West Midlands and London on suspicion of Computer Misuse Act offences, blackmail, money laundering and participating in the activities of an organised crime group.
UK’s Mulberry Raises $27 Million From Top Investors As Revenue Drops
The British luxury brand secures fresh funding and board support amid declining sales.
Tween Retailer Claire’s Considers Bankruptcy for US Operations
Facing weak demand, increased import costs, and a significant debt burden, Claire’s Stores Inc. is contemplating bankruptcy for its US operations.
Uniqlo Owner’s Profit Misses Estimates on Weak China Sales
Japanese apparel maker Fast Retailing reported third-quarter earnings below estimates, primarily due to a decline in mainland China revenue.
Canada Goose’s Private Equity Backer Weighs Stake Sale
Bain Capital, the controlling shareholder of luxury parka maker Canada Goose, is reportedly exploring a sale of its stake.
S&P Cuts Saks’ Credit Rating Over New Financing Package
The luxury retailer’s credit rating is now CC — 10 rungs beneath investment grade — a demotion that ‘reflects our view that the proposed financing transaction is tantamount to a default,’ S&P said.
Amina Muaddi Opens Its First-Ever Store
The new Paris boutique is the first freestanding location for the seven-year-old women’s footwear brand.
After US Tariffs, Jobs Hang by a Thread in Bangladesh’s Garments Sector
Bangladeshi garment workers fear job losses due to the US imposing a 35 percent tariff, threatening the country’s main export industry and the livelihoods of millions.
V&A to Stage Schiaparelli Exhibition in London
The exhibition will honour Elsa Schiaparelli’s revolutionary designs and collaborations from the 1920s to today.
Exclusive: Heron Preston Buys Back Brand From New Guards Group
The New York City-based label follows other designer brands who have recently separated from the Italian fashion incubator.