Shein Outsells British Rival Asos as UK Revenue Hits $3.41 Billion
The ultra-fast fashion company said sales had been bolstered by marketing partnerships with music festivals, a pop-up shop on London’s Oxford Street and local Christmas gift events.
Madrid, Spain
Beauty
Spanish Surgeons Perform Pioneering Face Transplant
In a world first, the facial tissue came from a donor who had requested an assisted dying procedure.
Beauty
Byredo, Paco Rabanne Owner Puig Sales Rise 8%
The Spanish beauty conglomerate saw growth in all three of its divisions, which include the Dr. Barbara Sturm, Charlotte Tilbury and Carolina Herrera brands.
Retail
Zara Owner’s Lean Business Model Helps It Cope With Pandemic
Inditex managed to reduce stock-in-trade by 19 percent at the end of July, softening the blow to earnings.
Retail
Inditex Pledges to Maintain Workers’ Rights Throughout Its Supply Chain
In a joint agreement with global workers' union IndustriALL, the Zara owner has committed to ensuring health and safety standards are met and workers' rights to unionise are maintained.
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Retail
Inditex Posts Quarterly Loss Following Store Closures
The Zara owner reported a net loss of $465 million despite a 95 percent increase in online sales in April.
Retail
Zara Owner Built a Post-Covid Retailer Before Coronavirus
Inditex managed to rely on its online business to keep operations running, limiting the damage from shuttered stores.
Retail
Report: Inditex to Reopen Stores in Spain Following Coronavirus Shutdown
The Zara owner will open several of its smaller stores as the Spanish government eases some lockdown restrictions, according to a source close to the company.
Global Markets
Global Garment Industry Calls for Support for Manufacturers
Major brands including H&M and Adidas are working with the International Labour Organisation to commit to paying factories for finished goods.
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Retail
A Spain Loosens Lockdown, Inditex Slowly Sends Employees Back to Work
The fashion giant's logistics centres in Spain have reopened, but the company is said to be taking measures to ensure staff safety.
Retail
Coronavirus Stalls Fashion Giant Inditex
The fast-fashion chain's operations have come to a halt as the coronavirus pandemic continues.
Retail
Zara Owner Posts Strong Profit Growth
Inditex reported a net profit of €1.17 billion ($1.3 billion) for the third quarter and forecasts full-year sales growth of up to 6 percent.
Retail
Inditex Is Still Betting on Brick-and-Mortar Retail
The Zara-owner has cut the number of stores it has in its home market, but is expanding the footprint of existing locations.
The News in Brief
Nike, Patagonia and Lululemon Join Group Battling Microfibre Pollution
Global environmental non-profit The Nature Conservancy has launched a new industry coalition to help apparel companies tackle microfibre pollution across their supply chains.
Meta Bans Ads From TikTok on Its Apps
The policy bars ads from ByteDance, which remains in charge of key parts of TikTok, and extends to third-party advertisers running campaigns that link to TikTok.
Gap to Use Athleta Leader’s Exit to Rebuild Slumping Brand
The departure of Athleta’s CEO for Lululemon is a chance to ‘reimagine the brand’s path forward,’ Gap Inc. CEO Richard Dickson wrote in an internal memo viewed by Bloomberg.
Harvey Nichols’ Birmingham Store Will Close in January
The department store’s Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group, which purchased the chain when it was put into administration in mid-August.
Zankov Appoints Its First CEO
Jack Tobin is joining Diane von Furstenberg artistic director Henry Zankov’s namesake label as CEO and part owner.
LVMH, Kering Update Model Safety Guidelines
Nearly a decade since the luxury groups first published a charter of model protections, they are introducing new measures to protect those working in the industry.
Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.