Latest Articles in Business

Bureau Veritas announces acquistion of LBS Group

Bureau Veritas, a global firm for testing, inspection, and certification services, has acquired LBS Luxury Brands Services S.R.L. Group, a laboratory that specializes in quality control for the luxury fashion industry, including leather goods and footwear. The move is part of Bureau Veritas' LEAP | 28 broader strategy to bolster its position and...

Business

Recover to open new factory in Vietnam to further global recycling capabilities

Global producer of recycled cotton fiber Recover is set to open a new manufacturing facility in Vietnam as part of its expansion strategy. Set to be fully operational by early 2025, the new facility sees Recover bring its large-scale recycling technology to Vietnam and leverage the production of more sustainable materials within the local...

Business

Nike Shuts Metaverse Fashion Company Rtfkt: Last Collection in January 2025

Nike is shutting down Rtfkt, its metaverse fashion company known for digital sneakers and NFTs. In January 2025, Rtfkt will release one final collection, Blade Drop . The company itself announced the news via X (formerly Twitter). Summary • Nike is shutting down its metaverse fashion subsidiary, Rtfkt, in January 2025 after a final collection...

Business

German Environmental Aid files lawsuit against Adidas

Adidas has just suffered a defeat in a trademark case with the US brand Thom Browne, and now the Herzogenaurach-based sportswear manufacturer may soon be back in court. The German Environmental Aid (DUH) has filed a lawsuit against Adidas AG at the Nuremberg-Fürth Regional Court, the association announced on Monday. The reason for the lawsuit is...

Business

Decathlon: One billion euros for shareholders and a threat of strike

The Mulliez Family Association (AFM) has announced the payment of one billion euros to shareholders as 2024 remuneration. "Unacceptable", considers the CFDT Décathlon, which is calling for a strike on Saturday, December 7, 2024. "A billion euros for shareholders and nothing for employees when the vast majority of them only receive the minimum...

Business

Germany: Strongest decline in retail sales in two years

The reluctance of many consumers to buy is slowing down retail before the start of the important Christmas business. In October, sales fell compared to September, both in nominal terms (-1.1 percent) and in price-adjusted terms (-1.5 percent). Adjusted for prices, the decline was the sharpest since autumn 2022. This means that the recovery from...

Business

French clothing and textile sales up 4.3 percent in October 2024

In October 2024, retailers' sales of clothing and textiles recorded a 4.1 percent increase in value compared to October 2023, according to data shared by IFM Panel. After the strong increase last September , the French clothing and textile sector continues its performance. For the month of October 2024, distributor sales recorded an increase of...

Business

Benetton Group plans to close 500 stores

Benetton Group CEO Claudio Sforza is finalising the company's reorganisation plan, which he has been working on since this summer, when he took over the Venetian company. The strategy should reduce losses from 230 million to 110 million euros within a year. The break-even point is forecast for 2026. To achieve this goal, 500 store closures are...

BusinessFeatured

What to know when using your name for your brand

When creating a new business or brand, one of the many issues to be considered is what to call it. For a designer, the most obvious naming choice is to use their own name, or a variant of their own name. It is common practice within the fashion and cosmetics industries for a designer or founder to name the brand after themself, and there can be...

Business|Opinion Featured

Is ‘Black Friday’ still relevant?

Black Friday has finally arrived, but I’ve already had enough. Since last week, I've been inundated with newsletters full of offers, and while clearing out my inbox, I've wondered whether in a time of climate crisis, with the EU aiming for a circular economy by 2050 and enacting new laws to further enforce sustainability, a bargain fest that...

Business

Oxfam calls on Australian brands to pay living wages to garment workers

An analysis by Oxfam Australia has claimed that a number of notable Australian brands are underpaying their garment workers despite raking in over one billion dollars in revenue last year. According to the nonprofit organisation, Kmart Group, Big W, Cotton On, Rip Curl, Kathmandu owner KMD, Myder and Bonds’ parent company Hanes “still don’t pay...

BusinessFeatured

Uniqlo boss says brand does not use Xinjiang cotton

Fast Retailing’s chief executive, Tadashi Yanai, has claimed that the company’s core brand, Uniqlo, does not use cotton sourced from China’s Xinjiang region in its products. Yanai addressed the concern to the BBC, to which he confirmed that the company was not utilising cotton from this district, before stating: “It gets too political if I say...