Articles by Prachi Singh
Agilitas to design and distribute Lotto products in India, Australia and South Africa
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WHP Global has announced a new long-term licence for Lotto with Agilitas Sports. Through this licence, WHP said in a release, Agilitas will have the exclusive rights to design, manufacture, promote, and distribute the Lotto brand in India, Australia, and soon in South Africa. Commenting on the development, Stanley Silverstein, chief commercial...
L’Oréal records strong Q1 results
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First quarter sales of 11.24 billion euros, increased 9.4 percent like-for-like and 8.3 percent reported at L’Oréal. The company’s adjusted like-for-like growth was 8.1 percent. Commenting on the figures, Nicolas Hieronimus, CEO of L'Oréal, said in a statement: “2024 is off to a very good start with like-for-like growth of 9.4 percent,...
Brixton appoints ex-Levi’s executive Seth Ellison as CEO
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Brixton has announced the appointment of Seth Ellison, a Southern California native and 40 year veteran of the lifestyle apparel and action sports sectors, to the role of chief executive officer effective April 22, 2024. Commenting on the new appointment, Altamont Capital Partners co-founder, Keoni Schwartz, said: "We ran a very comprehensive...
Reitmans posts Q4 revenues increase of 3.8 percent
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Apparel retailer Reitmans Canada (RCL) increased fourth quarter revenues by 8.1 million Canadian dollars or 3.8 percent to 221 million Canadian dollars, while comparable sales including e-commerce net sales, decreased 1.6 percent. Net revenues for fiscal 2024 decreased by 8.6 million Canadian dollars or 1.1 percent to 794.7 million Canadian...
Kinnevik proposes cash distribution of 6.4 billion Swedish krona
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During the first quarter, Kinnevik announced the divestment of its full shareholding in Tele2 to Iliad/NJJ for a total consideration of 13 billion Swedish krona. Following this transaction, the company’s board intends to propose an extraordinary cash distribution of 23 Swedish krona per share or 6.4 billion Swedish krona in total. “With Kinnevik...
Brunello Cucinelli confirms FY24 forecast on strong Q1
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First quarter sales at Brunello Cucinelli were up by 16.5 percent at current exchange rates and 17.9 percent at constant exchange rates to 309.1 million euros. The company said that the first quarter performance is in line with expectations and consistent with the 10 percent growth expected for the full year. Commenting on the results, Brunello...
OVS sales and profit improve, outlook positive
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OVS ended the year with net sales of 1,536 million euros, up 1.5 percent despite exceptionally unfavourable weather that penalised the apparel market in the initial periods of both seasons. The company’s sales in the first months of 2024 are up by around 5 percent. OVS said in a release that the positive full year result was also due to the best...
Julia Goddard to join as CEO of Harvey Nichols
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Julia Goddard, EMEA president of Alexander McQueen will be joining Harvey Nichols in June as its new chief executive officer (CEO). Commenting on the new appointment, Sir Dickson Poon and Pearson Poon, chairman and vice chairman of Harvey Nichols said: “Julia is a dynamic business leader with a strong track record of delivering quality growth...
Asos reports H1 loss, names new CFO
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For the first half period, Asos reported an adjusted pre-tax loss of 120 million pounds, while total sales declined by 18 percent to 1,505.8 million pounds. Adjusted EBITDA loss widened to 16.3 million pounds compared to the 4.6 million pounds in the period last year. Asos reiterated guidance for FY24 sales decline of 5 to 15 percent, positive...
Megan Kulick joins Birkenstock as director of investor relations
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Birkenstock has announced the appointment of Megan Kulick as director investor relations, effective April 15, 2024. Based in New York, Kulick will report to the board of directors of the company. Commenting on Kulick’s appointment, Oliver Reichert, CEO of the Birkenstock Group and member of the board said: "It was extremely important for us to...