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.
Circularity
Fashion’s Virgin Plastic Problem
The industry needs to ditch its reliance on fossil-fuel-based materials like polyester in order to meet climate targets, according to a new report from Textile Exchange.
Why Renewcell’s Bankruptcy Might Be the Push Textile Recycling Needed
In the weeks since one of the industry’s most promising recycling start-ups filed for bankruptcy, big brands have put more money and more commitment into bringing innovations to market.
H&M Places New Bet on the Future of Fashion Recycling
The fast-fashion giant has joined Vargas and TPG to back a new polyester recycling venture following its failed bet on Renewcell.
AI, Outlets, Recycling: Can Luxury Solve Its Billion-Dollar Excess Inventory Problem?
LVMH and Kering wrote down billions of dollars of unsold inventory last year. What to do with it has become an increasingly complex challenge.
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Renewcell Files for Bankruptcy
The Swedish textile recycler said it was unable to secure sufficient long-term funds to continue operations.
The Year Ahead: What to Expect as New Sustainability Rules Roll In
The State of Fashion 2024's essential guide to incoming sustainability regulation reveals how and why retailers, brands and manufacturers need to revamp business models to align to a shifting regulatory landscape.
How Fashion’s Business Model Is Wasteful by Design
Excess is built into the economics of the industry at every step of the value chain, writes Kenneth P. Pucker.
Resale’s Fast Fashion Purge
Vestiaire Collective will now block 30 brands including Gap, H&M and Zara from its platform, adding to an earlier ban on Boohoo and other low-priced online retailers. It’s an eco-conscious spin on a broader push upmarket by secondhand companies.
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A New Start-Up Wants to Take the Guessing Out of Resale. Can It Work?
Croissant is a start-up that melds retail with resale, showing shoppers the secondhand market value of products they want to buy, as well as offering them a simple way to resell those items for immediate cash.
Sustainability
What’s Blocking the Rise of More Sustainable Materials?
Weaker-than-expected demand for Swedish textile recycler Renewcell’s first commercial volumes of recycled cellulose pulp has sent the company’s stock price plummeting and highlighted broader hurdles challenging efforts to lessen fashion’s environmental footprint.
What’s Blocking the Rise of More Sustainable Materials?
Weaker-than-expected demand for Swedish textile recycler Renewcell’s first commercial volumes of recycled cellulose pulp has sent the company’s stock price plummeting and highlighted broader hurdles challenging efforts to lessen fashion’s environmental footprint.
Recycler Renewcell Replaces CEO Amid Weak Sales
Shares in the Swedish textile-to-textile recycling pioneer have fallen nearly 80 percent since it flagged weaker-than-expected uptake of the cellulosic pulp it produces.
Can Fashion’s Multi-Million-Tonne Trash Problem Be Controlled?
Regulators are trying to crackdown on the pollution caused by throwaway fashion. But ensuring old clothes aren’t treated as trash is trickier than it seems.
The News in Brief
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress
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.
Lagardère Group Launches Egyptian Edition of Elle Magazine
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.
Report: FTC to Consider Blocking Tapestry’s $8.5 Billion Capri Takeover
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 Appoints New CEO
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
Emerging Designer Platform The Folklore Raises $3.4 Million
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.
Adidas Is Seeing Hot Demand for Sambas and Yeezys
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.
Sephora, Perfumes and Cosmetics Drive LVMH Sales Growth
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.