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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The News in Brief
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.’
Meta Expected to Unveil Smart Glasses Without Camera
Smart glasses have become a target of criticism in recent months amid growing concerns they can be used to record people without their consent.