Representative image Shein‘s British business made 1.55 billion pounds ($2 billion) in revenue in 2023, a filing by the online fast-fashion group showed on Tuesday, as it prepares for a hotly debated listing in London. The annual revenue from the UK, Shein’s third-biggest market, was 38% more than it had previously reported for a 16-month…
Representative image The organised retail apparel sector in India is projected to see 8-10 per cent revenue growth this fiscal, riding on higher demand stemming from a normal monsoon, easing inflation, festive and wedding season and increasing preference for fast fashion, a report showed on Tuesday. Retailers in the country are adjusting business strategies, enhancing…
Tom Singh, Founder, New Look and Independent Director, Board of ace turtle “The fundamental principle of retailing remains unchanged: understanding the customer’s mindset, offering desirable products at the right time and price,” says Tom Singh, the visionary founder of New Look and an independent director on the board of Ace Turtle.Sharing insights into his compelling…
Representative Image Asia’s richest man, who made a glamorous splash this year with a $600 million wedding bash for his son, is now in a battle to hawk fashion to paying customers. Yet in this fight, Mukesh Ambani is getting beaten by a much older conglomerate. Things are becoming serious enough for him to enlist…
New Delhi: Japanese apparel major Uniqlo’s sales growth in India slipped by more than half to a still-strong 32% last fiscal year while its net profit expanded by 25%. The Indian unit of Asia’s biggest clothing brand posted a net profit of ₹85.1 crore for the year ended March 2024 with net revenues of ₹824…
Reliance Retail Ventures is set to finally launch Chinese fast-fashion label Shein in the coming few weeks, a year after it inked a strategic partnership with the latter, multiple executives aware of the developments said. The Mukesh Ambani-owned retailer will be selling Shein’s products on its app as well as offline stores owned and operated…
Danish fashion retailer Bestseller is shutting down its Indian ethnic wear brand Indifusion, which it had acquired three years ago, amid mounting losses and falling demand. The move also signals a larger slowdown trend in the overall ethnic wear segment since last year, said retailers and mall owners. Bestseller said the brand’s sales did not…
TOKYO: Japan’s Fast Retailing Co reiterated on Thursday its forecast for a third year of record profits, as the Uniqlo owner ramps up an expansion into North America and Europe to take on entrenched rivals H&M and Zara owner Inditex. Its ambitious growth moves in Western markets comes as sales in its home market weaken,…
Shanghai: With jaw-droppingly low prices and a seemingly endless selection of trendy clothes, Shein has taken the world by storm — and found itself in the crosshairs of French lawmakers who want to curb the excesses of fast fashion. Customers love the Chinese-founded firm’s massive catalogue of ultra-cheap items, from $8 sundresses to 48-cent bracelets,…
Representative image France is proposing a European Union ban on exports of used clothes, the environment ministry told Reuters on Thursday, as governments look for new ways to tackle the worsening problem of textile waste. United Nations trade data shows the EU exported 1.4 million metric tons of used textiles in 2022, more than twice…
