Lenzing Closes UK, Austria Sites in Turnaround Bid
The closures are the latest in a series of cost-cutting and refinancing measures at the textile maker, which has faced headwinds from competition in China and India.
South Africa
Retail
South Africa Will Impose New Tax on Fast Fashion Parcels
The country’s tax authority will soon impose a tax on cheap packages to protect the local clothing industry from international e-commerce competitors like Shein.
South Africa Will Impose New Tax on Fast Fashion Parcels
The country’s tax authority will soon impose a tax on cheap packages to protect the local clothing industry from international e-commerce competitors like Shein.
Global Markets
How Fashion Entrepreneurs Are Surviving Crises in South Africa
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
How Fashion Entrepreneurs Are Surviving Crises in South Africa
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
Luxury
Thebe Magugu Wants to Build an International Brand Without Forgetting the Customers at Home
The South African designer is taking a step back from the global stage by prioritising his local market, investing in DTC and working with new stockists across Africa.
Thebe Magugu Wants to Build an International Brand Without Forgetting the Customers at Home
The South African designer is taking a step back from the global stage by prioritising his local market, investing in DTC and working with new stockists across Africa.
Global Markets
South Africa’s Budget Fashion Giant Sees Profits Surge
South African retailer Pepkor Holdings on Friday reported a 115.2 percent jump in annual earnings, rebounding from a low base in 2020 when it was hit by coronavirus lockdown restrictions.
South Africa’s Budget Fashion Giant Sees Profits Surge
South African retailer Pepkor Holdings on Friday reported a 115.2 percent jump in annual earnings, rebounding from a low base in 2020 when it was hit by coronavirus lockdown restrictions.
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Workplace & Talent
South African Retail Giant Truworths Appoints New CFO
Emanuel Cristaudo will take on the role of chief financial officer of the 104-year-old South African fashion retailer effective July 1, Reuters
South African Retail Giant Truworths Appoints New CFO
Emanuel Cristaudo will take on the role of chief financial officer of the 104-year-old South African fashion retailer effective July 1, Reuters
Global Markets
Africa’s $20 Billion E-Commerce Opportunity
The pandemic shone a spotlight on African e-commerce giants like Jumia, Konga and Takealot but now there is a race to become the fashion gateway for the continent. Which specialist etailer will win?
Africa’s $20 Billion E-Commerce Opportunity
The pandemic shone a spotlight on African e-commerce giants like Jumia, Konga and Takealot but now there is a race to become the fashion gateway for the continent. Which specialist etailer will win?
Retail
Old Mutual Backs South African Retailer Footgear’s Acquisition Plans
The plan to buy Edcon’s Edgars Active and High Key assets will create one of Southern Africa's largest sports and casual wear businesses.
Old Mutual Backs South African Retailer Footgear’s Acquisition Plans
The plan to buy Edcon’s Edgars Active and High Key assets will create one of Southern Africa's largest sports and casual wear businesses.
Beauty
South African Department Store Woolworths Partners With Beyoncé Makeup Artist
Like many of its peers, Woolworths has invested heavily in its beauty business by partnering luxury international brands such as House of Chanel, Estée Lauder and Jo Malone.
South African Department Store Woolworths Partners With Beyoncé Makeup Artist
Like many of its peers, Woolworths has invested heavily in its beauty business by partnering luxury international brands such as House of Chanel, Estée Lauder and Jo Malone.
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News & Analysis
Nkosiyati Khumalo: 'Fashion Needs to Include More Diverse Voices'
This week, we meet BoF Professional member Nkosiyati Khumalo, editor-in-chief of GQ South Africa.
Nkosiyati Khumalo: 'Fashion Needs to Include More Diverse Voices'
This week, we meet BoF Professional member Nkosiyati Khumalo, editor-in-chief of GQ South Africa.
Retail
Woolworths CEO Under Pressure as David Jones Struggles
Two Australian non-executive directors resigned from David Jones last week, hot on the heels of CEO David Thomas, the third head of that business to leave in five years.
Woolworths CEO Under Pressure as David Jones Struggles
Two Australian non-executive directors resigned from David Jones last week, hot on the heels of CEO David Thomas, the third head of that business to leave in five years.
Retail
South Africa's Woolworths Hit by Sluggish Sales, Earnings Warning
Sales at the local fashion, beauty and home business declined by 2 percent, with comparable store sales down 2.4 percent due to a significantly smaller winter clearance sale in the first quarter.
South Africa's Woolworths Hit by Sluggish Sales, Earnings Warning
Sales at the local fashion, beauty and home business declined by 2 percent, with comparable store sales down 2.4 percent due to a significantly smaller winter clearance sale in the first quarter.
News & Analysis
Nike Stores in South Africa Reopen Following Backlash Over Racist Video
Some stores were closed earlier in the week following a backlash over racist comments by a man said to have links to the US sportswear company.
Nike Stores in South Africa Reopen Following Backlash Over Racist Video
Some stores were closed earlier in the week following a backlash over racist comments by a man said to have links to the US sportswear company.
The News in Brief
Bernard Arnault Joins X as LVMH CEO Fights Off Rumours of Family Disunity
French newspaper Le Monde published a six-part series last week on the tycoon, including alleged tensions among his family members driven by succession.
CVC Mulls Buying Stake in Jeweller APM Monaco From TPG
CVC Capital Partners is considering buying a stake in the fashion jeweller from private-equity firm TPG Inc., according to people familiar with the matter.
London’s Liberty Doubles Fabric Section as Sewing Booms
The department store has more than doubled the size of its fabrics department and will host crafting classes this autumn as social media drives a surge in activities like sewing.
US Businesses File Lawsuit Challenging New ‘Forced Labour’ Tariffs
Two small businesses, backed by the group that successfully sued over previous tariffs, say the new policy similarly exceeds the president’s authority to tax imports.
Perfume Maker Givaudan’s Sales Beat Estimates, Tariff Paybacks Weigh on Shares
Givaudan’s second-quarter organic sales came in ahead of market estimates on Thursday, but its shares fell 5 percent on litigation costs and tariff repayments.
Trump to Impose Forced Labour Duties on Friday as Temporary 10% US Tariffs Expire
The move is the White House’s latest effort to restore Trump’s campaign vision of a near-global tariff after the US Supreme Court in February struck down his ‘reciprocal’ duties.
LVMH Appoints General Manager of Fragrance
Givenchy executive Yann Musquin will lead the group’s fragrance portfolio, succeeding longtime division head Romain Spitzer.