The latest player to enter the rapidly developing fashion rental market is Swedish fast fashion giant H&M, with a deft high street collection of archival evening wear, in a concept store that opens this Friday.
U.S. apparel and footwear conglomerate VF Corporation and buyout funds Permira and Advent are lining up indicative offers for Italian shoe brand Golden Goose ahead of a mid December deadline, sources told Reuters.
Vinted, an online marketplace for second-hand clothes, has surfed a sustainable fashion wave to become Lithuania's first technology startup to reach "unicorn" status with a valuation of over $1 billion.
The French label went into liquidation in July, and has been gradually dismantled. It may still rise from the ashes though, and a ruling on the bids for its trademark rights and archives will be made in mid-December.
Value fashion retailer Bonmarché could continue to operate with a preferred bidder, Peacocks, being announced, although 30 stores are likely to close before Christmas and a deal still isn't guaranteed.
Clothes should be cherished, re-worn and even passed on to the next generation, Anna Wintour, the editor of Vogue magazine said, calling for more sustainability in the fashion world and less of a throwaway culture.
Popular items such as apparel and accessories are likely to face a 15% tariff in a new round scheduled for Dec. 15, meaning prices could lift on these items and more ahead of the all-important holiday season.
Luxe fashion names are focusing heavily on boosting their e-tail ops and Hackett said it has achieved 97% growth in international e-tail, three months after partnering with cross border e-commerce specialist Global-e.