Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
Viewership of women’s sports has steadily grown into a year-round affair, but most brands have been slow to capitalise on the segment’s biggest stars.
This week, Sephora announced plans to double down on ‘green’ and ‘clean’ product labels, leaning into an increasingly risky marketing tactic even as a greenwashing crackdown has prompted other brands to pull back.
This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.
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By investing in an elevated product and shopping experience, Spanish retailers Inditex and Mango are seeing tremendous growth despite fierce competition from the likes of Temu and a cash-strapped consumer.
The ByteDance-owned app has big ambitions to be an e-commerce player in league with Amazon with influence in fashion on par with Instagram. Now it’s facing new threats — both from outside and within.
New CEO Tony Spring’s plan to shutter stores and improve products echoes previous efforts for revitalisation. To pull it off this time, the retailer must deliver transformational changes in the shopping experience.
Sales at Renzo Rosso’s Breganza-based fashion group have continued to climb in a rocky market for designer apparel, validating the design-led approach that was on display at the Diesel and Marni shows this week in Milan.
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Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.
This week, the French luxury giant scored a $4 million win in its closely watched lawsuit against US reseller What Goes Around Comes Around. The verdict ratchets up legal risk for resellers, making secondhand luxury ‘a more dangerous business.’
‘Quiet luxury’ may have waned on TikTok, but strong results at Zegna, Brunello Cuccinelli and Loro Piana suggest demand for discreet propositions has staying power.
The move is more about marketing than finances. But it provides a good excuse to check in how the luxury resale player is adapting in a brutal marketplace for fashion start-ups and resale platforms alike.
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.