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UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

Hot weather drove Britons to buy summer fashion, as well as outdoor goods, in July. But they also reined-in spending on foreign travel and eating out as the cost-of-living squeeze made itself felt, two surveys show.
Fashion
Shopify merchant growth falters as weak consumer spending hits businesses

Shopify merchant growth falters as weak consumer spending hits businesses

​Businesses stung by rising costs and lower consumer spending are shying away from Shopify's platform, creating a roadblock in its plan to fix past missteps in overestimating e-commerce demand.
Fashion
Richemont recommends shareholders vote against board candidate Trapani

Richemont recommends shareholders vote against board candidate Trapani

Richemont has asked shareholders to reject a candidate from Bluebell Capital Partners as a representative of ordinary shareholders and vote against his election to the luxury group's board at its upcoming AGM.
Luxury
Holzweiler gets Sequoia Capital investment boost, targets China, US and UK growth

Holzweiler gets Sequoia Capital investment boost, targets China, US and UK growth

​Norwegian fashion and lifestyle label Holzweiler has entered a “strategic partnership” with Sequoia Capital China, the latter having made a “significant investment” in the family-owned firm.
Fashion
Tapestry names Scott Roe to dual role of CFO and COO

Tapestry names Scott Roe to dual role of CFO and COO

Tapestry, the owner of Coach, Kate Spade, and Stuart Weitzman, has given Scott Roe, its current chief financial officer (CFO), additional responsibility as chief operating officer (COO) of the company.
Luxury
Gucci now accepts ApeCoin cryptocurrency in select US stores

Gucci now accepts ApeCoin cryptocurrency in select US stores

Italian fashion house Gucci has announced on Twitter that it will now accept ApeCoin — the Bored Ape Yacht Club’s proprietary cryptocurrency — for purchases at select stores in the US.
Luxury
India's DLF mulls auction bid for New Delhi mall with base price of $366m - sources

India's DLF mulls auction bid for New Delhi mall with base price of $366m - sources

India's biggest real estate developer DLF is evaluating a bid for a prominent New Delhi shopping mall that has a starting auction price of $366 million, according to two sources and a public notice seen by Reuters.
Fashion
Finland’s Marimekko to launch marketplace for second-hand goods

Finland’s Marimekko to launch marketplace for second-hand goods

Finnish lifestyle design company Marimekko is planning to launch a community-driven marketplace for its vintage and second-hand goods, Marimekko Pre-loved, on August 25.
Fashion
Balenciaga strikes deal with Reliance for India entry

Balenciaga strikes deal with Reliance for India entry

​Kering’s unstoppable Balenciaga brand has a giant new market to target. On August 4, Reliance Brands Limited said it has signed a strategic deal with the “hottest global luxury brand” to bring it to the Indian market. 
Luxury
US July manufacturing activity grows; apparel in highest growth sector

US July manufacturing activity grows; apparel in highest growth sector

Economic activity in the US manufacturing sector expanded in July, with the overall economy achieving a 26th consecutive month of growth, its supply executives said in the latest Manufacturing ISM Report on Business.
Fashion
Zalando EBIT drops, but firm is upbeat as it adapts to current conditions

Zalando EBIT drops, but firm is upbeat as it adapts to current conditions

​After some disappointment in June as it downgraded guidance, on August 4 Zalando had better news. It “expects improved profitability and a return to growth in the second half”.
Fashion
US’s Highstreet and Jonathan Koon transform retail shopping into metaverse

US’s Highstreet and Jonathan Koon transform retail shopping into metaverse

Jonathan Koon, founder of Mostly Heard Rarely Seen 8-Bit, has teamed up with US-based Highstreet, the retail-focused web3 metaverse, to launch an experience linking traditional fashion retail with the metaverse.
Fashion
Hugo Boss sales increased 34% in Q2

Hugo Boss sales increased 34% in Q2

Germany-based Hugo Boss on August 3 confirmed earlier preliminary figures, saying currency-adjusted Group sales increased 34 per cent in the second quarter (Q2) of fiscal 2022 (FY22) compared to the prior-year period.
Fashion
Tod's founder launches bid to delist shoemaker

Tod's founder launches bid to delist shoemaker

The founder and largest shareholder at Italy's Tod's has decided to launch a takeover offer on the luxury shoemaker with the aim of delisting it from the Milan stock exchange, the family holding company said Wednesday.
Luxury
Eurozone retail sales drop more than expected in June as prices rise

Eurozone retail sales drop more than expected in June as prices rise

Euro zone retail sales plunged more than expected in June as prices at factory gates continued to rise, data showed Wednesday, signalling a weakness in consumer demand that could herald a recession in H2.
Fashion
India’s export orders 20% lower due to recession, brands’ sales down

India’s export orders 20% lower due to recession, brands’ sales down

Global recession is knocking at the doors of Indian textile industry. The impact of recession is clearly visible on new orders received by Indian exporters.
Fashion