Latest Articles in Business

Leemans Schoenen Declared Bankrupt

Shoe retailer Leemans Schoenen has been declared bankrupt, according to a statement on the company's website. Documents on failllissementsdossier.nl reveal that the company was declared bankrupt last week by the Amsterdam court. “As you may have heard, Leemans Schoenen has been declared bankrupt. However, this does not mean that we have...

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Leemans Schoenen declared bankrupt

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Safilo and Under Armour renew eyewear licensing agreement

Safilo Group and Under Armour have renewed their global licensing agreement for Under Armour branded eyewear until 2031. "We are enthusiastic about extending our successful partnership started in 2020 with Under Armour. We are thrilled to continue this journey, leveraging Under Armour's growing consumer base in North America and in the rest of...

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Hugo Boss meets 2018 targets, reveals Q4 sales growth of 7 percent

On a preliminary basis, Hugo Boss Ag said that group sales grew by 7 percent in the reporting currency and 6 percent in local currencies to 783 million euros (889 million dollars) with both the company’s own retail business and the wholesale business recording positive growth. On non-audited basis, Hugo Boss achieved sales of 2,796 million euros...

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VF's full year outlook raised on strong Q3 performance

VF Corporation’s revenues for its third quarter ended December 29, 2018 were up 8 percent or 10 percent in constant dollars to 3.9 billion dollars. Excluding acquisitions net of divestitures, the company said, revenue increased 7 percent or 9 percent in constant dollars, driven by VF’s largest brands, international and direct-to-consumer...

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Interview: The/Studio, making small batch production easier

Amazon, Alibaba, Shopify and even Instagram have made it easier for starters to launch a niche fashion brand online. However, the “first mile” of the supply chain hasn’t changed much: the majority of fashion manufacturers still operate according to the traditional model, in which collections are planned up to 1 year in advance and ordered in...

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Snoop Dogg becomes a shareholder in Klarna

Swedish financial tech firm Klarna has confirmed that American rapper, Snoop Dogg, aka Calvin Broadus, has become a minor shareholder in the company, which offers retailers including Asos and Missguided buy-now-pay-later services. “Snoop is not only a rap legend, but also a successful businessman, with a genuine interest in tech, retail and...

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Primark posts 4 percent sales rise, maintains full year profit outlook

For the first quarter to January 5, 2019, sales at Primark, part of the Associated British Foods, were 4 percent ahead of last year, at both constant currency and actual exchange rates. The company said in a statement that with a higher operating profit margin, profit was well ahead and that sales growth was driven by increased retail selling...

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Chinese premier vows measures to support the economy

China will step in to support private businesses and cut taxes to boost the slowing economy, Premier Li Keqiang said Wednesday. Growth in the world's second largest economy is flagging, dragged down by the trade dispute with the US, and growth should slip to 6.2 percent this year according to the World Bank. The slowdown complicates Beijing's...

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M&S to close another 17 stores putting over 1000 jobs at risk

Marks and Spencer Plc (M&S) has revealed locations of 17 further stores, which it plans to close as a part of its previously announced five-year plan to shutter over 100 stores by 2022, reports BBC. The store closures are expected to impact 1,045 staff members, who, the company said, will now be a part of consultation process. The 17 proposed...

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John Lewis posts 4.9 percent increase in weekly fashion sales

Total sales at John Lewis, the company said in a statement, were up 0.7 percent for the week ending January 12, 2019, on last year driven by customers continuing to shop clearance offers and beginning to shop Spring/Summer ranges. Fashion sales during the week were up 4.9 percent. The company added that womenswear accessories had a particularly...

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Christopher Raeburn rebrands

British sustainable fashion designer Christopher Raeburn is rebranding his eponymous label to ‘Raeburn’ to coincide with the brand’s 10-year anniversary. The re-brand, which also includes a new logo, follows the recent appointment of Christopher Raeburn as Timberland’s first global creative director, and the appointment of his brother Graeme...