Latest Articles in Business

Bestseller improves profitability amid tough trading year

In 2023-24, Danish fashion firm Bestseller said that the company’s overall results were impacted by challenging conditions in the global fashion market. Despite this, the company managed to secure an improved EBIT and will continue to invest in transforming its business to adapt to new demands. During the year under review, top-line revenue fell...

Business

Spain launches pilot for large-scale textile waste management

The Spanish Association for the Management of Textile Waste, FEMP (Spanish Federation of Municipalities and Provinces) and some of the largest fashion companies are joining forces to tackle textile waste ahead of the EU regulation for the Collective System of Extended Producer Responsibility (EPR) for textiles and footwear (SCRAP), which is...

Business

Hugo Boss Foundation invests in Indian cotton fibre project

The Hugo Boss Foundation has signed a partnership with the Grameena Vikas Kendram Society of Rural Development (GVK Society), an Indian grass-roots non-profit organisation with the mission to build regenerative, circular and socially inclusive agricultural value chains that optimise value for smallholder farmers and indigenous communities. This...

Business

Fabletics expands into Austrian retail

Sportswear brand Fabletics is coming to Austria and will be available in regional retail stores for the first time from October, the company announced on Thursday. The California-based brand is entering the Austrian retail market with the sports retail company Gigasport. To kick off the new partnership between Fabletics and Gigasport, the...

Business

Unilever sells Russian business

Unilever has announced the sale of its Russian business following mounting pressure on the cosmetics and personal care giant. The move was revealed in a statement from group’s CEO Hein Schumacher, who said that the subsidiary was offloaded to Arnest Group, a Russian manufacturer of perfume, cosmetics and household products. The sale will include...

Business

River Island reports loss of 32.2 million pounds in 2023

Clothing brand River Island reported a full year pre-tax loss of 32.2 million pounds, while the total turnover for the year under review decreased 15.1 percent to 701.5 million pounds. The company said in a filing that the negative performance resulted in a reduction in gross profit to 46.7 million pounds and loss after tax was 24.4 million...

Business

Inditex launches venture capital for tech and sustainable startups

Spanish fashion giant Inditex has announced the launch of a new venture capital as part of efforts to finance textile innovations and advance its own sustainability goals. The Zara parent company has assigned the management of the investment mechanism to venture capital firm Mundi Ventures, which is currently overseen by its founder Javier...

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Denim Deal rolls out: First Germany, now France, soon worldwide

Back in 2020, a global group of industry leaders came together to sign a 'Denim Deal' committed to closing the denim loop. Now, following the opening of a regional 'Germany Hub' in September 2024 - as part of efforts to establish an ecosystem associated to the Denim Deal 2.0 - a new location is set to also launch in France on October 16....

Business

Decathlon signs a partnership with Unspun and invests in 3D weaving

Decathlon Pulse, the sportswear brand's investment company, is investing in Unspun, a US fashion-tech company specialising in 3D weaving. This new partnership includes an investment and a multi-year purchase agreement until 2030. Its signing comes after the recent closing of Unspun's Series B fundraising, which amounted to 32 million dollars. “...

Business

Surprising profit: Zalando is more optimistic for 2024

After a good start to the autumn and winter season of 2024, the online retailer Zalando wants to step it up a gear. In day-to-day business, the group is aiming for more profit than previously communicated. Managers are also no longer expecting the worst for other key financial indicators. Co-CEO Robert Gentz sees the company as well positioned...

Business

Birkenstock shares up after one year on the stock exchange

On the anniversary of its botched stock market debut in the US, sandal manufacturer Birkenstock can now show a positive share price. Shares closed on Thursday at just under 50 US dollars. That is above the issue price of 46 US dollars - and above all significantly above the interim lows of around 36 US dollars. Birkenstock had already set the...

Business

Buckle posts decline in September comparable sales

Specialty apparel retailer Buckle’s comparable store sales decreased 4.3 percent in September, while total net sales decreased 2.5 percent to 100.6 million dollars. The company said in a release that on the men’s side of the business, total sales for the period decreased 5.5 percent. The men’s business represented approximately 52 percent of...