Compagnie Financière Richemont, which owns 17 luxury brands including Montblanc, Cartier and Chloé, has signed a partnership with Lafayette Plug and Play, the accelerator program for retail and fashion startups developed by Galeries Lafayette Group. “We are very pleased to welcome Richemont as one of […]

The troubled fashion retailer, Gerry Weber International Ag currently employing around 6,500 people expects further redundancies as a part of its restructuring process after the company sought the restructuring opinion to verify the company's capability for a successful restructuring and to support […]

Dutch discount retail chain Hema has been acquired by Ramphastos Investments, the investment company owned by Dutch billionaire Marcel Boekhoorn. The company, which is owned by British investment firm Lion Capital LLP since 2007, intends to improve its profitability, grow its e-commerce and expand internationally […]

Two Swedish giants are growing closer: Interogo Holding AC, an investment company linked to Ikea, has bought a 190 million US dollar stake in Hennes & Mauritz (H&M), according to news agency Bloomberg. Interogo didn’t previously own any shares in the fast fashion company. The acquisition of the 0.6 […]

As part of the review of New Look’s international strategy, New Look Retail Group Limited said in a statement that its board of directors has decided to exit its retail business in China. The company said, following the decision, New Look Commerce (Shanghai) Co., Limited has been gradually reducing […]

The John Lewis Partnership has announced ambitious plans to reduce its HGV emissions by over 80 percent by 2028, to coincide with the government’s Green GB Week. The retail group has stated that it will begin to phase out all diesel-powered heavy trucks from its fleet by 2028, with all John Lewis and […]

Dozens of female garment workers in Myanmar’s biggest city Yangon were attacked by assailants wielding iron bars on Monday. Hundreds of garment workers at Fu Yuen Garment Co. Ltd., which produced ready-made garments for German discounter Lidl and up until April this year for British fashion brand Joules, […]

Following the European Union’s decision to increase trade pressure on Cambodia, ripples of concern are spreading through the country’s garment industry and trade unions. The industry - which employs approximately 700,000 people - is a key contributor to the Cambodian economy, making the implications […]

The Asos group generated retail sales growth of 26 percent during the year to August 31, 2018 to 2,355.2 million pounds (3,104.2 million dollars), with UK growth of 23 percent and international growth of 27 percent or 24 percent at constant currency. The company said, UK retail sales grew despite a […]

Speaking at the 2018 Milano Style Global Summit, Tod’s Chairman and CEO Diego Della Valle denied rumours surrounding a possible sale of the Tod’s group, reports WWD. The report quoted Della Valle saying: “This rumor is a “recurring” one, but “if we really had to do an operation, it would be to buy, […]

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