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Starboard slashes stake in Kohl's after seeking to buy it in January
Activist hedge fund Starboard Value, which had offered to buy Kohl's Corp for roughly $9bn early this year, slashed its stake in the department store by more than 80% in Q2, according to a regulatory filing.
Fashion
Business
HanesBrands’ sales drop 14% in Q2
Net sales of US-based HanesBrands from continuing operations were $1.51bn, a decline of 14% in the second quarter of fiscal 2022. This was caused by was driven by a ransomware attack and softer-than-expected POS trends.
Fashion
Business
India’s apparel retailers to earn 21-23% more revenue in FY 2023
A combination of strong same-store sales, new store launches, and higher contribution from online channels will add 21-23% revenue growth for apparel retailers in India in fiscal 2023.
Fashion
Retail
Canada Goose results thrive as luxury demand defies inflation
Canada Goose Holdings Inc has surpassed Wall Street targets for quarterly results after affluent consumers undeterred by decades-high inflation snapped up its luxury parkas and jackets.
Luxury
Business
Design
Fashion innovator Issey Miyake dies at 84
Japanese fashion designer Issey Miyake, whose global career spanned more than half a century, has died aged 84 of cancer, it emerged on August 9.
Fashion
Design
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
Design
Dolce & Gabbana champions promising young British designer Matty Bovan
Domenico Dolce and Stefano Gabbana, with their luxury label's style department, are working with Bovan to develop his Spring/Summer 2023 collection, which will première on the Milanese runways next September.
Luxury
Design
The Lycra Company partners with Browzwear
Sustainable fiber and technology solutions firm the Lycra Company announced on Tuesday a partnership with Browzwear, the industry's leading 3D software for apparel design and development.
Fashion
Industry
Appointments
I Saw It First founder and leaders exit after Frasers buy
Frasers Group may have brought Missguided founder Nitin pass back to run that business after it acquired it out of administration, but it’s not gone for continuity with another buy, that of I Saw It First.
Fashion
Appointments
Primark creates customer chief role, names Michelle McEttrick to post
Primark has named Michelle McEttrick to the new Chief Customer Officer role, “to develop the Primark brand and customer strategy as the business continues its expansion across new markets, channels and products”.
Fashion
Appointments
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
Appointments
JD Sports confirms Al-Futtaim's Schultz as CEO
JD Sports Fashion on Tuesday confirmed that Régis Schultz has been appointed as its new CEO “following an extensive executive global search process” and after speculation last week that he would be named to the post.
Fashion
Appointments
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