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.
After generative AI’s breakout year in 2023, The State of Fashion 2024 examines emerging use cases across creative industries, including fashion.
Digital platforms are working to bring fashion’s deadstock materials out of dusty warehouses and make them easy to buy and sell online, but they face an industry used to doing things the old-fashioned way.
A giant investment from Softbank in 2021 turbocharged expansion plans at Vuori, which is now eyeing global expansion and a takeover of its customers’ closets. But Lululemon, Nike and a host of direct-to-consumer competitors stand in its way.
Late last month, leading materials start-up Bolt threads said it had paused operations for its leather alternative Mylo. The company’s struggle to raise funds points to deeper challenges for the sector, writes Kenneth Pucker.
Late last month, leading materials start-up Bolt threads said it had paused operations for its leather alternative Mylo. The company’s struggle to raise funds points to deeper challenges for the sector, writes Kenneth Pucker.
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Synthetic stones now make up 10 percent of the diamond market, highlighting the ways in which new materials are rewriting the rules of what is considered luxury.
Material choices, garment construction and manufacturing processes can make a big difference to reducing much of the polluting particles clothes shed.
From products made of recycled plastic to take-back programmes, some of fashion’s favourite sustainability solutions are problematic, argues Beth Esponnette.
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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.