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  • HERZOGENAURACH - Sportswear giant Adidas has launched its new 'Own the Game' strategy which includes a commitment that nine out of 10 of the company's products will be made from sustainable materials by 2025.Expanding the company's activities in the area of sustainability is one of the three key objectives of Own the Game, alongside brand credibility and consumer experience.Adidas CEO Kasper Rorsted said: “Our strategic focus is on increasing credibility of the Adidas brand, elev
  • SAN FRANCISCO - Denim giant Levi's has launched a new collection of garments made with 55 per cent hemp and using plant-based dyes applied with 'ultrasonic wave technology' to reduce the need for chemicals.Levi's new Wellthread collection also includes what Levi's describes at its most sustainable jeans ever - the 502 for men which is made with organic cotton and Circulose, a 'breakthrough' material made from worn out jeans.The company says it has increased its use of
  • SAN FRANCISCO - Fashion brand Gap Inc has launched a new programme aimed at empowering female garment workers in its global supply chains.Called Empower@Work, it is a partnership with the Business for Social Responsibility consultancy, the International Labour Organization's Better Work programme and the CARE anti-poverty initiative.The new platform will focus on building sustainable, systemic and scalable programmes that promote gender equity in its global supply chains while ensuring garme
  • LOS ANGELES – US fashion brand Reformation has partnered with traceability solutions provider FibreTrace and will trial its technology with the rollout of a new denim collection.FibreTrace tags textiles with a unique pigment that can be tracked throughout apparel supply chains and authenticated in the finished good.The project aligns with Reformation’s goal of total transparency across its supply chain by 2025.Source:Eco Textile
  • H&M, the Swedish fast fashion retailer, saw its first quarter sales go down by as much as 27 per cent to £3.37 billion.Image Courtesy: medium.comThat’s less-than-expected sales decline!The analysts, as per media reports, had forecast a fall of 30 per cent in net sales during the quarter.And the numbers will only keep improving! The first half of March has already seen sales go up by around 10 per cent – thanks to gradual reopening of stores and COVID-19 relaxations getting relaxed at many pl
  • British online luxury retailer N Brown has announced that it will be launching third party brands to its platform.Image Courtesy: ibm.comThese include eco-conscious fashion brand Nobody’s Child along with denim bigwig Wrangler and Finery.Nobody’s Child is all set to be launched in April, while Finery will be seen on Simply Be’s website later this month.Notably, both fashion brands will be available from size 20 onwards – exclusive to plus size womenswear label.As far as denim stalwart Wrangler’s
  • LONDON – Environmental organisation ReLondon (formerly the London Waste and Recycling Board) and circular business consultancy QSA Partners have published a progress report on their Circular Fashion Fast Forward project.The initiative, which in 2019 welcomed the likes of luxury apparel platform Farfetch and outdoor apparel brand FW, set out to offer practical guidance on how to embed circular business models such as resale, repair and rental within its brand partners’ operations.Two years on, Fa
  • British multinational clothing, footwear and home products retailer Next recently announced it will acquire a 25 per cent indirect interest in Reiss Limited, a British sh fashion brand and retail store chain owned and run by its founder David Reiss, through the acquisition of shares in the holding company of the Reiss business from existing shareholders.Pic: ReissUpon completion of this deal, which is subject to regulatory clearance, Next will make an equity investment of £33 million and a debt
  • Salvatore Ferragamo, an Italy-based luxury goods company, has reported 33.5 per cent revenue decline to €915.8 million in its full fiscal 2020 that ended on December 31, 2020 compared to revenue of €1.37 billion in the previous fiscal. During 2020, company incurred a net loss of €71.7 million compared to net profit of €87.3 million in FY19.Pic: Salvatore FerragamoGross profit dropped to €565.4 million (FY19: €893.5 million). The operating loss for the year amounted to €61.5 million (operating pr
  • The Frasers Group recently warned of possible store closures after it reviews its estate, as the group said the UK government aid for the COVID-19-hit retail sector was not good enough. “The 2 million pound rates cap ... from July 2021 to March 2022, makes it a near worthless support package for large retailers,” Mike Ashely-owned Frasers said in a statement.Pic: Fraser GroupThe United Kingdom will extend a year-long business rates exemption for retail, hospitality and leisure businesses to the
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