Zalando has announced an interesting development this week as it aims to “elevate the visual experience for customers” by piloting “virtual production” in a Designer category partnership with Orendt Studios.
The Italian group achieved revenue of 155 million euros in the first six months of 2021, up 30% year over year, but down 10% compared to 2019, while net earnings tripled in the two years, totaling 17.4 million euros.
The fashion group, which has owned 70% of its flagship brand since 1999, has purchased the remaining 30% from Italy's Siny, taking complete control of the business. The value of the transaction was 66.5 million euros.
Coty Inc’s biggest business that includes brands such as Burberry perfumes and Gucci foundations returned to growth in the third quarter after a tumultuous 2020, while the cosmetics maker’s net loss narrowed sharply.
The beauty giant unveiled its new growth strategy at an investor event on Friday, revealing plans to reposition brands in its consumer beauty and skincare portfolios, and accelerate growth in prestige, China and digital.