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Clothes retailers in Europe and America sit on excess inventory and cut back on spring orders. Sourcing agents face late payments. Garment factories in Bangladesh are on the rack. The global apparel industry, reeling from a punishing 2020, is seeing its hopes…
The fashion industry loves a bandwagon, and the see-now-buy-now one keeps rolling along. A murderer’s row of major brands, from Burberry and Ralph Lauren to Tommy Hilfiger and Moschino, has incorporated at least some element of instant gratification into…
Hennes & Mauritz released stronger-than-expected fourth-quarter results on Friday but flagged ongoing challenges in trading conditions, with more than 1,000 stores temporarily closed. “The ongoing restrictions along with the many temporary store closures will…
UNIQLO today announces that it will open UNIQLO Orchard Central, its first Global Flagship Store for Southeast Asia and Singapore, on Friday, 2 September 2016. Under the concept of “U+S and The World”, the new store will showcase the brand’s full assortment…
Giordano International (0709) warned that it expects to record an annual net loss of between HK$110 million and HK$130 million in 2020, as compared with a profit of HK$230 million in 2019. As stated in the interim results announcement last year, a net loss of…
Esprit has unveiled a new management team in its latest attempt to resuscitate the brand, with Mark David Daley now installed as chief executive officer. Daley, 56, is described by Esprit as a 30-year retail industry veteran and was most recently the ceo at…
Bauhaus International (0483) said same-store sales growth of its self-managed offline shops fell by 38 percent year-on-year for the three months ended December last year. In Hong Kong and Macau, the same-store sales performance of its self-managed retail…
Italian designer clothing brand Stone Island has just been snapped up by Italian winter wear’s favorite Moncler SpA (BIT: MONC). While some retailers are winding up operations and slipping into administration, others are seeing an opportunity to expand.…
For some sneakerheads who may be unaware, Reebok is owned by Adidas. Back in 2005, the brand was bought by the Three Stripes for a large sum of $3.8 billion and they have been sharing warehouses and website assets, ever since. Now, however, this business…
Uniqlo father or mother Fast Retailing might have reported a 12-per-cent drop in gross sales in its full-year outcomes, however, that decline was far lower than predicted as not too long ago as July as a result of the Greater China and Japanese markets…
The world’s second-biggest fashion retailer, Sweden’s H&M, says it plans to cut 250 of its stores globally. The closures will come next year after the firm said the Covid-19 pandemic had moved more shoppers online. Although it said sales had continued to…
Japanese apparel business Uniqlo has launched a recycling initiative aimed at reducing the footprint of its products being improperly disposed of. Called Re.Uniqlo, the program enables the business to recycle old clothes into new clothes, redistributing old…
Performance apparel brand Arc’teryx has opened its first global flagship store in Shanghai, its largest store to date. Called the Arc’teryx Alpha Center, the store occupies an 8000sqft area, offering what the brand describes as an “experiential design and…
Covid-19 has increased Hong Kong-listed apparel group Bossini’s loss attributable to shareholders by 174 percent from last year to US$48.85 million. Sales for the 12 months to June 30 hit $141 million, down by 27 percent, and gross margin fell to 49 percent,…
Global fashion retailer H&M had warned its preliminary third-quarter results may well be below that of the previous corresponding period – but it beat profit forecasts and has recovered much faster than expected. The company’s pre-tax profit for the quarter…
The textile and garment industry continues to be hurt by the Covid-19 pandemic with only weekly orders coming in due to uncertain demand. Shipments of textile and garment, Vietnam’s third-largest export earner, fell 11.6 percent year-on-year in the first…
