Britain‘s Superdry said Chief Financial Officer Shaun Wills will step down at the end of March, while the struggling fashion retailer reported a wider half-yearly loss on Friday as unusual weather snubbed sales amid a cost-of-living crisis. The retailer named Giles David as its interim CFO, effective Jan. 29. The London-listed company recorded an adjusted…
Birkenstock beat analysts’ expectations for fourth-quarter sales and forecast annual revenue above estimates on Thursday, in the German luxury sandal maker‘s first results since going public, betting on higher pricing and strong demand. The company’s sandals and clogs retail for as much as $350 a pair, and the strong results follow signs of ebbing global…
Representative image LONDON: Frasers, the British sportswear and apparel retailer controlled by Mike Ashley, has bolstered its presence in the luxury space by buying loss-making online player MATCHES from Apax Partners, paying about 52 million pounds ($66 million). MATCHES offers products from more than 450 designers and generates the majority of its revenue internationally, with…
Representative image Dubai: Indian apparel manufacturers are looking to hold exhibitions in world markets like Australia, the US and the UK which have strong diaspora to expand into new geographies, an industry official said. Speaking with PTI after holding the inaugural edition of the annual exhibition in the city, Clothing Manufacturers Association of India (CMAI)…
Tokyo: A second-hand pop-up store in Tokyo by casual clothing giant Uniqlo was a first for the Japanese firm, but also a sign that a local aversion to used garments may finally be fading. Uniqlo is a major player in an industry blamed for immense carbon emissions and other pollutants like microplastics. It has ridden…
Group of Seven nations have agreed to ban Russian diamond imports from the start of next year in the latest move to curb Russia’s ability to fund its invasion of Ukraine. While the G-7 and its European allies have been trying to find additional ways to squeeze Russia’s economy to constrain its ability to fund…
Tanishq, an Indian jewellery brand, has opened its store here and in Frisco as part of its global business expansion strategy and to cater to the growing needs of the Indian diaspora in the US. The US state of Texas, with the second largest Indian Diaspora, is now home to two of Tanishq’s stores, one…
LONDON- British clothing retailer Next on Wednesday raised its full-year profit outlook for the fourth time in six months as it reported better-than-expected sales in a third quarter heavily impacted by variable weather. The group, which trades from about 460 stores in the UK and Ireland and has an online presence in over 70 countries,…
LONDON, – British clothing group Next has agreed to buy FatFace in a deal valuing the fashion chain at 115.2 million pounds ($140 million), adding another brand to a fast-growing portfolio. Next, which operates from about 460 stores in the UK and Ireland and has an online presence in over 70 countries, has been picking…
Representative Image The government’s proposal to impose a 20% tax on expenditures made abroad under the Liberalised Remittance Scheme, in case of amounts exceeding ₹7 lakh in a financial year from October 1, is likely to push the sale of luxury brands in India, experts said. Covid had helped boost demand for luxury brands in…
