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  • With coronavirus far from over, the riots in US have now hit the fashion bigwigs in a big way!Image Courtesy: usatoday.comThe Swedish fast fashion giant H&M has announced to temporarily shut its 95 stores all across America amidst protests following George Floyd’s death.In a statement signed by Helena Helmersson, CEO, H&M, the fashion retailer said that it is fully committed to taking such steps so as to stand against racism and stand with its colleagues, customers and communities.H&
  • Here’s another fashion retailer that’s become a victim of COVID-19!Image Courtesy: clark.comThe American wear-to-work retailer for women, New York & Co., is on the verge of bankruptcy, as warned by its owner RTW Retailwinds.Reportedly, RTW Retailwinds said that it is in the process of finalising a 10-K form that summarises company’s financial performance – reflecting ‘substantial doubt about company’s ability to continue’.Coronavirus seems to have taken a heavy toll on the retailer with seve
  • US jewelry giant Tiffany’s saw their shares take a plunge as reports of the LVMH takeover of the brand may not go through.Image Courtesy: www.fortune.comThe unstable market scenario of the United States, which was triggered by months of lockdown followed by civil unrest and several violent protests in the wake of George Floyd’s murder by Minneapolis Police Department, has opened questions of uncertainty of the future of Tiffany’s in the US, which is its biggest market.By the end of last year, LV
  • The first quarter has witnessed American Eagle Outfitters (AEO) and its brands perform extraordinarily as far as digital business is concerned.Image Courtesy: post-gazette.comClosure of physical stores forced lot of people to search and buy products digitally all through the first quarter. And the results are out!While AEO recorded a rise of 33 per cent in its digital business in Q1, its intimate apparel brand Aerie clocked a whopping 75 per cent increase in digital business during the period.Th
  • Canada Goose, a manufacturer of performance luxury apparel, reported 15.4 per cent revenue growth to $958.1 million (Canadian Dollars) in fiscal 2020 ended on March 29, 2020 compared to revenue of $830.5 million inprevious fiscal year. Net income grew to $151.7 million (FY19: $143.6 million). Gross profit were $593.3 million (FY19: $516.8 million).Pic: Canada GooseHowever, revenue for the fourth quarter (Q4) FY20 fell to $140.9 million (Q4 FY19: $156.2 million. Net income for the quarter were $2
  • Centric Software, the US-based digital transformation solution, has launched the latest version of its Centric 8 PLM version 7.1.Image Courtesy: www.3ds.comThe innovation has been developed in response to the customer feedback and realising the new market need for a more collaborative and efficient system.The customers will now also be able to personalise the PLM experience as per their needs and convenience. “Giving individual users flexibility to optimise and personalise their workspace in jus
  • H&M has reached 97 per cent recycled or other sustainability sourced cotton and will not source conventional cotton for collections from 2020 onwards.Leading fashion retailer H&M has come up with its latest sustainability report and showed how aggressively it is moving forward in sustainable activities. The company also showed its firm vision and insisted that in this challenging time of COVID-19, sustainability will play an even more crucial role. It is good to see that the retailer is
  • With every big and small fashion brand gradually reopening their stores globally, Reiss, the British fashion label, too has decided to reopen its stores in a phased manner.The fashion brand has already reopened some of its stores in Europe and now it has announced that from 15 June, it will reopen around 26 stores in the UK. These 26 stores will include both outlets and standalone stores.Like most of the retailers, Reiss too has assured that safety of its employees and visitors will be its topmo
  • Boohoo is slammed with a US $ 100 million lawsuit which claims that the company has used fake sales in the US to delude customers into buying at fake ‘sale’ prices.Image Courtesy: www.myunidays.comAccording to the lawsuit, Boohoo used fake reference prices which were then slashed to the fake ‘sale’ price to create an illusion of a sale. The lawsuit also extends to its subsidiary brands PrettyLittleThing and Nasty Gal.The prices which are shown as original prices are supposedly inflated which giv
  • PVH Corp. has announced that Daniel Grieder will be stepping down from the position of CEO of Tommy Hilfiger Global and PVH Europe after having spent around 23 years in the conglomerate, handling various roles of management.Image Courtesy: theceomagazine.comHe is leaving the company to pursue other interests and will be succeeded by Martijn Hagman, who currently serves as the COO of Tommy Hilfiger Global and PVH Europe, and the CFO of Tommy Hilfiger Global.Martijn seems to be the perfect fit for
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