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Bernard Arnault buys one-quarter stake in fellow French patron Arnaud Lagardère’s holding company

Bernard Arnault buys one-quarter stake in fellow French patron Arnaud Lagardère’s holding company

Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.
Fashion
Lockdown students ride to fashion's rescue with spending boost - Kantar

Lockdown students ride to fashion's rescue with spending boost - Kantar

Fashion may have struggled to gain traction with cautious consumers during the UK lockdown but one key group has been buying enthusiastically — students.
Fashion
L Brands sales take 37% hit

L Brands sales take 37% hit

Having recently said goodbye to founder and former CEO Leslie Wexner, the Columbus, Ohio-based owner of Victoria’s Secret and Bath & Body Works reported a 37.1% decline in revenues for the first quarter on Wednesday.
Fashion
IKKS names Ludovic Manzon as CEO

IKKS names Ludovic Manzon as CEO

French brand IKKS has found a successor for former CEO Pierre-André Cauche. Ludovic Manzon steps into the role after having been CEO of lingerie brand Sloggi since 2016.
Fashion
M&S to hibernate £200m "stock bulge", lockdown sales drop but reshaping plan on track

M&S to hibernate £200m "stock bulge", lockdown sales drop but reshaping plan on track

M&S has plans to hibernate some of its SS20 stock as it reveals a big sales hit due to the pandemic. But the firm is upbeat and says Clothing & Home is progressing, even though fashion retail will change post-crisis.
Fashion
Farfetch revenue soars as online is only game in town

Farfetch revenue soars as online is only game in town

Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.
Fashion
L Brands says goodbye to Leslie Wexner, outlines plans for Victoria's Secret

L Brands says goodbye to Leslie Wexner, outlines plans for Victoria's Secret

The founder of the Ohio-based retailer officially stepped down from his role as CEO and chairman at the company’s annual meeting on Thursday, where discussions also focused on future plans for Victoria’s Secret.
Fashion
Asos says Barnsley hub safe after union urges closure for coronavirus deep clean

Asos says Barnsley hub safe after union urges closure for coronavirus deep clean

Asos has defended its decision to keep its warehouse in Barnsley open after calls from a union to close it for a deep clean on reports that several workers tested positive for Covid-19. 
Fashion
Global Fashion Group revenues up in Q1, Q2 has started well

Global Fashion Group revenues up in Q1, Q2 has started well

The e-tailer said it had a good Q1, although it remained loss-making. Demand has been strong, despite a mid-March dip and loungewear has been the key lockdown category.
Fashion
Fenty Beauty propels Rihanna onto Sunday Times Rich List

Fenty Beauty propels Rihanna onto Sunday Times Rich List

The new Sunday Times Rich List isn't due to be released until this weekend but it's already been revealed that Rihanna has joined the select group of ultra-wealthy UK residents. 
Fashion
Designers, fashion CEOs and retailers call for revolt against existing delivery system

Designers, fashion CEOs and retailers call for revolt against existing delivery system

A group of fashion CEOs, retailers and designers, including luminaries like Dries Van Noten, Tory Burch and Craig Green, have called for a major rethink in fashion deliveries and greater sustainability in an open letter.
Fashion
Luxury department store chain Neiman Marcus files for bankruptcy

Luxury department store chain Neiman Marcus files for bankruptcy

Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.
Fashion
Victoria's Secret gets new interim chief as L Brands, Sycamore call off deal

Victoria's Secret gets new interim chief as L Brands, Sycamore call off deal

L Brands said on Monday it has agreed to call off the sale of its majority stake in Victoria’s Secret lingerie business to Sycamore, averting a bitter legal battle between the two companies over the $525 million deal. 
Fashion
L Brands cuts spring inventory, not paying rent on stores

L Brands cuts spring inventory, not paying rent on stores

L Brands announced on Thursday that it has amended its revolving credit facility, among other measures, to ensure liquidity in light of the ongoing coronavirus pandemic.
Fashion
Laybuy runs its discount event in UK for first time

Laybuy runs its discount event in UK for first time

Laybuy, the buy now, pay later specialist from New Zealand, hosted its first day of deals for UK customers on Thursday in partnership with some of Britain’s best-known retailers.
Fashion
Gildan slides into loss due to coronavirus

Gildan slides into loss due to coronavirus

The Montreal-based owner of brands including Gildan and American Apparel announced a Q1 loss of $99.3 million on Wednesday, as disruption related to the Covid-19 pandemic negatively affected its sales.
Fashion