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.
fast-fashion
Sustainability
Brands Say They Want to Keep Workers Safe. Not All Are Willing to Pay for It.
Walmart and other large fashion retailers tout their progress on worker safety to consumers. But suppliers say they’re often on their own when it comes to improving factory conditions.
Brands Say They Want to Keep Workers Safe. Not All Are Willing to Pay for It.
Walmart and other large fashion retailers tout their progress on worker safety to consumers. But suppliers say they’re often on their own when it comes to improving factory conditions.
China
Chinese Fast Fashion Giant to Sell $69 Million in Assets
Mass market apparel player Metersbonwe will sell assets worth 448 million yuan ($68.84 million) to Bacchus Wine and Bairun Investment Holdings to raise capital and increase liquidity.
Chinese Fast Fashion Giant to Sell $69 Million in Assets
Mass market apparel player Metersbonwe will sell assets worth 448 million yuan ($68.84 million) to Bacchus Wine and Bairun Investment Holdings to raise capital and increase liquidity.
Retail
From West to East: Recentering the Fashion World
This week, Uniqlo’s Japanese owner Fast Retailing became the world’s most valuable fashion company, a reflection of just how much the pandemic is recentering the global fashion sector from the United States and Europe to Asia.
From West to East: Recentering the Fashion World
This week, Uniqlo’s Japanese owner Fast Retailing became the world’s most valuable fashion company, a reflection of just how much the pandemic is recentering the global fashion sector from the United States and Europe to Asia.
Retail
Boohoo Buys Remaining Apparel Brands From Failed Arcadia Group
Boohoo Group Plc snapped up remaining brands from Philip Green’s failed Arcadia Group Ltd. after the UK online retailer’s rival Asos Plc acquired the flagship Topshop and other labels.
Boohoo Buys Remaining Apparel Brands From Failed Arcadia Group
Boohoo Group Plc snapped up remaining brands from Philip Green’s failed Arcadia Group Ltd. after the UK online retailer’s rival Asos Plc acquired the flagship Topshop and other labels.
Retail
Why Asos Needs Topshop
Asos just spent over $400 million to acquire the legacy high street brand, boosting the online retailer’s place in the race to dominate the surging e-commerce market.
Why Asos Needs Topshop
Asos just spent over $400 million to acquire the legacy high street brand, boosting the online retailer’s place in the race to dominate the surging e-commerce market.
Retail
The Mysterious $15 Billion Brand Taking on Boohoo and Fashion Nova
Shein did not manage to acquire Topshop, but it could now be looking for other struggling retailers to cement its position as China’s leading exporter of ultra-fast fashion with global ambitions.
The Mysterious $15 Billion Brand Taking on Boohoo and Fashion Nova
Shein did not manage to acquire Topshop, but it could now be looking for other struggling retailers to cement its position as China’s leading exporter of ultra-fast fashion with global ambitions.
Retail
Asos Buys Topshop, Sister Brands in £295 Million Deal
The e-commerce company also acquired the Topman, Miss Selfridge and HIIT brands from failed retailer Arcadia Group.
Asos Buys Topshop, Sister Brands in £295 Million Deal
The e-commerce company also acquired the Topman, Miss Selfridge and HIIT brands from failed retailer Arcadia Group.
Retail
What’s Next for Nordstrom
In The Week Ahead, we examine Nordstrom’s plans for 2021, the final rounds of bidding for Topshop and other Arcadia brands, plus a new documentary about the artificial world of influencers.
What’s Next for Nordstrom
In The Week Ahead, we examine Nordstrom’s plans for 2021, the final rounds of bidding for Topshop and other Arcadia brands, plus a new documentary about the artificial world of influencers.
Retail
H&M’s Helena Helmersson on Making Retail More Resilient
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
H&M’s Helena Helmersson on Making Retail More Resilient
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
Retail
Report: Top Audit Firms Decline to Work With Boohoo
Four accounting companies, including Deloitte and Grant Thornton, have already ruled out working with Boohoo, the Telegraph reported on Tuesday.
Report: Top Audit Firms Decline to Work With Boohoo
Four accounting companies, including Deloitte and Grant Thornton, have already ruled out working with Boohoo, the Telegraph reported on Tuesday.
Retail
Amazon Kicks Off the Holiday Shopping Season Early
This week, everyone will be talking about Amazon Prime Day, efforts to revive US economic stimulus negotiations and Uniqlo owner Fast Retailing's expansion plans. Get your BoF Professional Cheat Sheet.
Amazon Kicks Off the Holiday Shopping Season Early
This week, everyone will be talking about Amazon Prime Day, efforts to revive US economic stimulus negotiations and Uniqlo owner Fast Retailing's expansion plans. Get your BoF Professional Cheat Sheet.
Luxury
Op-Ed | How Luxury Became Fast Fashion
Step by step, luxury brands have adopted the fast fashion model, with Covid-19 set to complete the shift, argues Liroy Choufan.
Op-Ed | How Luxury Became Fast Fashion
Step by step, luxury brands have adopted the fast fashion model, with Covid-19 set to complete the shift, argues Liroy Choufan.
The News in Brief
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.
India Changes Rule in Win for Foreign E-Commerce Companies
In a major win for Amazon, which lobbied for the change, the government will allow foreign e-commerce companies to buy products directly from Indian sellers and sell them to overseas customers.