H&M Group sales are continuing to recover as its markets reopen, although it’s not bouncing back as fast as some rivals. That said, its net sales in local currencies increased by 14% year-on-year in Q3.
Online fashion retail giant Zalando has invested in circular fashion and textile technology group Infinited Fiber Co. It said the non-disclosed proceeds will go towards building a €220 million factory in Finland.
Primark, one of Europe's biggest fast fashion chains, has vowed to cut its environmental impact without increasing prices by using more recyclable materials, making clothing more durable, and improving wages for workers.
H&M Group’s Q3 sales rose 14% year-on-year (YoY), the Swedish fashion retail giant said on Wednesday. That said, the figure was in local currencies and when converted to Swedish Krona, the rise was only 9%.
Open for Vintage is also open to new funding. The luxury pre-owned website has launched a £1.5 million capital raise, including a public crowdfunding campaign, to help drive new consumers to the site in the UK and US.
The group born of the merger between communication agency Karla Otto and events company K2 has bought a majority stake in the famous Parisian production house, for 30 years the brains behind fashion’s top catwalk shows.
When the world's two biggest fashion groups unveil quarterly sales figures on Wednesday, Inditex is seen back at pre-pandemic levels as stores reopen and people renew their wardrobe, while H&M still has some way to go.
City centre retail has suffered from the pandemic as tourists haven’t returned in large numbers and office workers stay home. But there’s hope, with signs of office workers returning to semi-normal working patterns.