Latest Articles in Business

Authentic Brands Group snaps up British heritage brand Hunter

Continuing on its string of notable acquisitions, Authentic Brands Group has announced that it has acquired the intellectual property (IP) of Wellington boot specialist Hunter. Speculation of Authentic’s potential takeover had been evident since the beginning of the year, when it was reported that Hunter was mulling a possible cash injection in...

Business

Marks & Spencer commits to protecting price of school uniform

Marks & Spencer has announced that it is going to continue protecting the price of its school uniform, a decision that has now extended into its third year after initially being introduced in 2021. The revelation comes ahead of Back-to-School season, for which the retailer said it will be offering an additional 20 percent off school uniform for...

Business

Asos launches incubator for ethnic minority-owned brands

Online retailer Asos has teamed up with the (Fashion) Minority Report (FMR) to launch an inaugural incubator programme to aid ethnic minority-owned brands within the fashion industry. ‘ScaleUp’ was designed to address and remove the barriers faced by these businesses when it comes to accessing the fashion market and scaling up their operations....

BusinessFeatured

Lululemon reports 24 percent revenue boost, driven by international sales

Sportswear retailer Lululemon has reported strong results for the Q1 period of fiscal year 2023, with its net revenue up 24 percent hitting two billion dollars. The rise was particularly driven by international sales, for which revenue had increased 60 percent compared to 17 percent in North America. Comparable store sales also rose 16 percent,...

BusinessFeatured

Nordstrom Q1 profits narrow, reiterates FY adjusted EPS outlook

Nordstrom has reaffirmed its full-year revenue and adjusted EPS outlook despite weaker sales in the first quarter as the company was impacted by falling consumer demand and the impact of the wind-down of its Canadian operations. Total net sales at the US department store chain fell 11.6 percent to 3.06 billion dollars in the quarter ended April...

Business

L’Oréal invests in biotech company Debut

L’Oréal’s venture capital fund Bold has announced its latest investment in US biotech company Debut as it looks to rapidly scale the firm’s manufacturing platform. Through the funding, Debut is also looking to meet the growing demand for products made using biomanufacturing, building on the existing joint development programmes of Debut and L’Or...

Business

Saks Fifth Avenue introduces private suites in styling service expansion

Luxury fashion retailer Saks Fifth Avenue has unveiled private, standalone suites across destinations in the US as part of an expansion to its personal shopping and styling service, the Fifth Avenue Club. Previously housed in Saks stores, the retailer has now partnered with luxury resort and hotel operators to bring the suites in house, with...

Business

Revolution Beauty posts H1 revenue drop, but losses narrow

Revolution Beauty Group has narrowed its losses in the first half of the year despite reporting a 4.3 percent drop in revenue driven by weaker digital sales. The British beauty company generated H1 sales of 75.3 million pounds, down from 78.6 million pounds a year earlier, according to its unaudited results for the six months ended August 31. UK...

Business

Marks & Spencer expands third-party footwear offer with Skechers, Crocs and Toms

Marks & Spencer has announced an expansion to its third-party footwear offer as part of its ‘Brands at M&S’ retail concept, with the introduction of Skechers, Crocs and Toms. It comes as the department store retailer continues to see an opportunity for growth in market share for the footwear category, while it prepares to utilise its already...

Business

Prada Group names Francesca Secondari chief legal officer

Francesca Secondari has been announced as group general counsel and chief legal officer of Prada, effective from May. This was revealed in a note by the Prada Group. In detail, Secondari is entrusted with responsibility for legal management, corporate affairs and group compliance. Secondari trained at the BonelliErede law firm, of which she...

Business

Circular luxury membership club More launches

In a bid to lower consumption and make luxury more accessible, membership platform More has launched, catering to individuals interested in joining a community surrounding luxury goods. Defined as a ‘Circular Luxury Club’, the platform allows members to apply for co-ownership over a selection of items, providing investment opportunities and a...

Business

Rebag partners with Christie’s on luxury handbag edit

Rebag has partnered with auction house Christie’s on a curated lot of luxury handbags, with bidding set to close on June 12. Dubbed ‘Handbags Online: The New York Edit’, the online-only auction will feature a series of highly-coveted and limited edition pieces, including Hermès Birkins and Kellys, among others. Another notable piece is that of a...