Armani Open to More Than One Investor for Sale of 15% stake, CEO Says
The comments by chief executive Giuseppe Marsocci come as the brand reportedly considers the possibility of LVMH, L’Oreal and EssilorLuxottica sharing the stake.
fast-fashion
China
How Brandy Melville Became a Badge of Honour in China
By thumbing its nose at almost every market entry convention, the teen brand has quickly gained cult status among local ‘BM Girls.’ Though its current level of buzz may be hard to sustain, the brand’s experience in China reveals a lot about the rapidly changing market.
Retail
Fast Retailing Predicts 44% Annual Profit Decline Due to Coronavirus
The owner of brands including Uniqlo and Theory also cut its full-year dividend outlook fro ¥480 ($4.41) per share, down from ¥500, as it reels from economic challenges beyond its key China market.
Retail
Forever 21 Avoids Store Closures After Rent Cuts
The fast-fashion retailer will retain 60 of its US stores that were previously planned for closure after filing for bankruptcy in September.
Retail
The Big Problems with Fast Fashion
This week, everyone will be talking about online retailer Asos' latest results and fashion weeks in Shanghai, Seoul and Tokyo. Get your BoF Professional Cheat Sheet.
Financial Markets
Fast Fashion Retailer C&A May Raise up to $540 Million in Brazil IPO
C&A intends to raise funds to pay down $190 million in intercompany loans and to expand the business.
Retail
H&M Earnings Return to Growth After Two-Year Slump
A well-received summer collection helped the Swedish retailer boost profitability, with inventory as a proportion to sales falling to 18.5 percent.
Workplace & Talent
ASOS Shakes Up Executive Board
The company revamped its board by naming several new directors as it looks to bounce back from a string of profit warnings.
Retail
Forever 21 Needs Older Shoppers to Come Back From Bankruptcy
The retailer filed for bankruptcy protection on Sunday, and its turnaround plan relies on luring in shoppers who are actually willing to buy clothes at full price.
Retail
Forever 21 Founders Borrowed $10 Million From Their Daughters
The offspring are now named as unsecured creditors of their parents’ company in the bankruptcy filings.
News & Analysis
Boohoo Profit Jumps as Younger Shoppers Fuel Sales
The online fast-fashion retailer, which has seen strong performance in France and the US, surprised analysts with multi-brand sales growth in the challenging UK market.
Retail
Primark Considers Central American Suppliers to Crack US Market
Some analysts believe Primark's combination of value, fashionability and breadth of range, means it could threaten value fashion retailers like Old Navy, American Eagle and Target on their own turf.
News & Analysis
High-Low Collaborations Democratised Fashion. But What Did They Do For the Designers?
Target gave independent brands the opportunity to make some money and gain exposure. In the long term, however, the cheap-chic retailer is the real winner.
The News in Brief
Edward Buchanan Opens New Creative Hub in Milan
A new space called The Situation will host exhibitions and residencies and provide resources to Black, queer and other under-represented creatives.
L’Oréal Joins Forces With Nykaa to Invest in Indian Beauty Brands
BOLD, the French conglomerate’s venture capital fund, will collaborate with retailer Nykaa to invest in the next generation of Indian beauty brands.
Private Equity Firm Inflexion Invests in Manucurist
The European investor, which previously backed Medik8, has taken a 49 percent stake in the premium French nail line.
H&M Profit Rises on Tariff Refunds as Sales Remain Sluggish
US tariff refunds drove an increase operating profit, even as the fast-fashion retailer has struggled to deliver consistent sales growth.
Arnault Clan to Change LVMH Holding Structure to Ensure Control
Under the plan, the world’s biggest luxury group will be controlled by one entity, Agache SCA, after Christian Dior SE, one of the current holding companies of LVMH, is delisted.
JD Sports Says Nike Turnaround Is Only a Matter of Time
Dominic Platt, chief financial officer of the British sportswear retailer, told Reuters, ‘Much as there's a lot of talk about Nike, it's still the most popular brand out there and it's still a very strong brand.’
Chanel Plans to Keep Investing in China Despite Demand Downturn
CEO Leena Nair pointed to the brand’s recent renovation of its Plaza 66 boutique in Shanghai, calling China ‘a market where the clients understand sophistication, refinement.’