Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
Dhaka, Bangladesh
Global Markets
Bangladesh Garment Factory Fire Kills 16, Toll May Rise
A deadly fire at a Bangladeshi garment factory and an adjacent chemical warehouse highlights the ongoing issue of poor fire and building safety standards in the country’s vital garment sector.
Sustainability
‘How Can We Live?’: For Garment Workers, It’s Worse Than the Pandemic
Rising living costs and increasingly precarious work are trapping the low-wage workers who power the fashion industry in a crushing squeeze, Sarah Kent reports from Dhaka.
Sustainability
Fashion’s New Age of Volatility Hits Suppliers
Whipsawing consumer demand is squeezing fashion suppliers and their workers in countries like Bangladesh, Sarah Kent reports from Dhaka.
Sustainability
‘Stop Lying, Stop Greenwashing’ — Key Messages From COP27
From activists taking brands to task over corporate greenwashing to the finance gap and antitrust challenges, here’s what fashion leaders need to know from the UN’s high-stakes climate summit.
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Global Markets
Op-Ed | Fashion’s Darkest Truth
Osman Yousefzada journeys to post-colonial Bangladesh to meet the workers who make our clothes.
Global Markets
Bangladesh Textile Workers Demand Wages in Protest
The country is set to lose export revenue of about $6 billion this year due to cancellations from retailers and vendors.
Retail
Bangladesh Garment Workers Break Lockdown to Protest Wages
The government launched a $588 million package to help companies in the garments sector pay staff, but manufacturers have said it is not enough.
Global Markets
Bangladesh to Lose Billions in Export Revenue
The second-largest apparel producer after China is set to lose $6 billion in export revenue as the world's largest retailers cancel orders, jeopardising millions of jobs in the poor South Asian nation.
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Sustainability
Op-Ed | Why Fashion Must Help Bangladeshi Workers Survive Coronavirus
Bangladesh is strategically critical for global apparel supply chains and it is ultimately in all our interests — from brands and retailers to factories and governments — to work together, collaborate and support each other through this, argues Mostafiz Uddin.
News & Analysis
Bangladesh Garment Unions Say New Factory Oversight Deal Risks Worker Safety
Government officials say The Accord on Fire and Building Safety in Bangladesh is no longer needed as a national regulatory body, the Remediation Coordination Cell (RCC), is able to do the job.
News & Analysis
6 Years After Rana Plaza, Worker Safety Is Under Threat in Bangladesh Again
Bangladesh’s deadly Rana Plaza disaster in 2013 sparked an unprecedented effort to improve worker conditions, but life for the country’s garment workers remains difficult and now the industry’s flagship safety initiative is under threat.
News & Analysis
Bangladesh Factory Safety Group Seeks to Delay Closure, Flags Lingering Risks
A High Court in Bangladesh ordered the Accord on Fire and Building Safety to shut down by November 30, but the group says checks on over 500 factories are still incomplete.
The News in Brief
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
Kering Drops 12% as Luxury Braces for Tough Winter
The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
Elle Launches Moroccan Edition
Hitting newsstands in October, the magazine marks Elle’s 51st international edition, published under licence by the Geomedia group.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.
L’Oréal Sales Beat Expectations as Premium Products Surge
The French giant handily beat expectations on strong demand for hair products at salons and premium skincare from its dermatological division.
P&G Beats Revenue Estimates, Flags Bigger Hit to Annual Profit
The maker of Pantene shampoo was helped by strong personal care demand, but expects higher commodity costs to reduce profit by about $1.4 billion this year.