As the world continues to deal with the mega-shock that the pandemic has delivered the fashion sector continues to deliver surprises too with the latest on Thursday being a report that Adidas is planning to sell Reebok.
The Anglo-German textiles firm blamed strong competition and the Covid-19 pandemic for a “difficult” trading year. Group revenue fell to £35.07 million in the 12 months to May 31 from £38.9 million a year ago.
Amazon.com Inc said on Thursday it has invested $100 million in opening new warehouses in Mexico, including its first shipping centers outside the populous capital area, in a bid to offer faster deliveries.
The company wants to delay its rescue plan to save parts of the UK business. It's expected to apply for a 10-day extension of creditor protection as lockdowns in Wales, where it has its HQ, are hampering negotiations.
Ant Group has won the final nod from China's top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory hurdle for its $35 billion dual-listing.
According to a new report from KPMG, U.S. consumers are planning to spend less this holiday season, with the apparel and accessories segment expected to be hit particularly hard by reduced shopping budgets.
The US apparel group is envisaging closing down all its directly operated branches in the UK, France, Italy and Ireland next year - 129 stores in total - maintaining a presence in Europe through franchise partnerships.
Iets Frans, the loungewear line exclusive to Urban Outfitters, has opened a two-level store at 44 Carnaby Street in London. It's the label's very first standalone and it's also exploring wholesale deals.
The Brazilian footwear group has appointed Frederic Levy as president of newly created Havaianas International. He will be in charge of all markets outside Brazil, with the mission of driving the group’s global growth.
As materials including wool, angora and mohair continue to come under scrutiny from anti-cruelty groups, Mohair South Africa has boosted its commitment to sustainable mohair by linking with traceability firm Oritain.