H&M reported its Q1 results on Wednesday and swung to a loss, but it said sales are recovering in March. Yet perhaps even more newsworthy was its ongoing effort to overcome its problems in China and “regain trust” there.
The Dallas, Texas- based department store retailer announced on Tuesday that it has completed a refinancing round of $1.1 billion, confirming earlier reports concerning its efforts to repay its borrowings.
The owner of brands including Tommy Hilfiger and Calvin Klein achieved revenue of $2.1 billion in the fourth quarter ended January 31, 2021, representing a year-over-year decrease of 20% from $2.5 billion.
A group of investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China's Xinjiang region, highlighting the challenges for brands trying to maintain business ties.
Donatella Versace has launched Medusa Power Talks, a female-led platform designed to discuss the experiences of women in power in 2021. First guests include Precious Lee, Indya Moore, Irina Shayk and Chelsea Miller.
Giorgio Armani, the proud owner of several major yachts, is to design a new Admiral superyacht for a mystery client, working with the Italian Sea Group to build the motor craft, which will be 72 meters long.