Representative Image MUMBAI: Fast fashion was on a slow lane in the last fiscal year. Sales growth slowed for top retailers and fast fashion brands, show the latest regulatory filings of Marks & Spencer, Zara, H&M, Levi’s, Lifestyle, Uniqlo, Benetton and Celio. The bottom line too had taken a hit, with most brands posting lower…
Zara owner Inditex has sharply increased its use of air freight to bring clothes from factories in India to its logistics hub in Spain to avoid shipping delays, according to trade data, industry experts, and investors. The shift raises questions about how the world’s biggest listed fast-fashion retailer is progressing towards its target of slashing…
The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. REUTERS/Florence Lo/Illustration/File Photo Chinese online shopping giants Shein and Temu have changed the face fashion ecommerce in the Europe and US. In the United…
Representative image Zara will offer its service for selling, repairing or donating secondhand clothes in the United States by the end of October as a way of prolonging their life cycle and reducing waste, its owner Inditex said on Wednesday. Zara’s ‘Pre-Owned’ platform is already running in 16 European countries, after launching in Britain in…
Representative Image Zara owner Inditex reported a rebound in recent sales of its first autumn-winter collections on Wednesday, offsetting a slowdown in sales in the first half of the year that was in line with analysts’ expectations. The fashion giant said its sales between Aug. 1 and Sept. 8 saw an 11% boost in constant…
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…
H&M plans to offer more discounted fashions in the second half of this year as it tries to win back customers from the likes of Zara owner Inditex and Shein. H&M has over the past year or so said it was prioritising profitability over sales volumes in order to reach a 10% operating margin goal,…
H&M posted on Thursday a 52-percent jump in net profit for the second quarter as the world’s second biggest fashion retailer pressed on with efforts to control costs. Chief executive Daniel Erver said the company had achieved its “best profit and cash flow for many years” in the April-to-June period, with profit after tax reaching…
Zara owner Inditex grew its sales by 7% in the first quarter of its fiscal year, it said on Wednesday, in line with analysts’ expectations. The performance represented a slowdown from a year ago when it benefited from a post-pandemic shopping spree. Inditex, which also owns Pull&Bear, Massimo Dutti and other brands, is attempting to…
Zara will expand its live shopping broadcasts to the UK, Europe and the United States this year, testing a format that is already wildly popular in China but one with which Western shoppers are less familiar. The fast-fashion brand, whose parent Inditex reports quarterly results on Wednesday, is investing in new ways to engage shoppers…
