AI Generated representative image Australian department store owner Myer will buy retail billionaire Solomon Lew‘s Premier Investments‘ apparel brands business, in a deal valued at A$863.8 million ($568.38 million), the companies said on Tuesday. Myer will issue Premier 890.5 million new shares in the retailer and there will be an A$82 million cash contribution by…
Michelle Gass Michelle Gass, chief executive of Levi Strauss & Co, said the denim maker‘s global operations should take a cue from the Indian business in terms of keeping speed, agility and execution of its retail strategy in a market, crucial to achieving its $10-billion annual revenue target, up from about $6 billion currently. “Speed,…
Fashion brand Beyoung said it has entered into physical retailing with its first store, part of its plan to open 300 outlets within the next three years. So far, the brand captured a large part of the online market in tier 2-4 cities and said it has a broader target to strengthen its omnichannel presence…
Apparel retail sector is likely to face another quarter of slowdown as most of them have reported flat to low single digit same store sales growth during Q3FY24, according to ICICI securities. This is primarily due to the lower footfall during the peak season, impact of world cup during weekends and late onset of winter…
Swedish fashion retailer Hennes & Mauritz (H&M) posted a 40% increase in sales in the year to March 2023, still managing to retain its position as India’s largest fast fashion brand by revenues on lower pricing. The sales expansion, however, was lower compared to 49% a year ago, indicating consumer shift to competition including Uniqlo…
