Business

Store closures and low consumer demand impact VF's Q1

VF Corporation’s first quarter revenue decreased 48 percent or 47 percent in constant dollars to 1.1 billion dollars driven by store closures and lower consumer demand as a result of the Covid-19 outbreak. Gross margin decreased 340 basis points to 52.9 percent, and on an adjusted basis, gross margin decreased 220 basis points to 54.1 percent....

31 Jul 2020

Retail

Burberry blends physical and digital with first social retail store in China

Burberry has opened the doors of what it describes as “luxury’s first social retail store” in Shenzhen, China. The store, opened on Friday, aims to “blend the physical and social worlds” - a concept the British luxury label has been progressively exploring. In early July,it launched a campaignjuxtaposing a video of CGI digital avatars - one of...

31 Jul 2020

Fashion

Latest designer collection showcases and fashion week developments

As the first digital Fashion Weeks have drawn to a close, questions remain over whether virtual showcases will wholly replace the classic runway format and what will be the next steps for the industry in revitalising the fashion system post-covid. Digital vs Physical The biggest winners of the virtual fashion weeks, it seems, were the real-life...

31 Jul 2020

Business

Fashion for Good and SeaChange present ground-breaking solution to wastewater treatment

Wastewater treatment has always posed a significant challenge to manufacturers and fashion brands. Some, like the global sustainability initiative Fashion for Good, see it as an attractive opportunity for innovation. Together with its Scaling Programme start-up SeaChange Technologies, which has developed a game-changing wastewater treatment...

31 Jul 2020

More News
Fashion

Primark commits to paying suppliers for all outstanding orders

Primark has announced a commitment to pay its suppliers in full “for all outstanding finished garments and to utilise or pay for any finished fabric liabilities”. It follows the Irish fast-fashion giant’s announcement in April that it would pay in full for orders that were in production, finished and planned for handover by 17 April. “This...

31 Jul 2020

People

Nike replaces diversity chief

Nike’s first director of diversity and inclusion Kellie Leonard is stepping down after two years in the role. Leonard, who was appointed to the newly-created position in 2018, decided to exit the company to “pursue other interests”, a Nike spokesperson told the Financial Times. She will be succeeded by former Tesla diversity chief Felicia Mayo,...

31 Jul 2020