Speculation over the future of Italian fashion group Armani came to the fore on Wednesday after the Milanese brand said it had no interest in a tie-up with car maker Ferrari, as proposed in a plan by investment banks.
Coinciding with the presentation of the group’s Q1 results, Inditex has announced the “voluntary resignation” of its deputy CEO Ramón Reñón, who bids farewell to the Spanish group after almost 30 years.
UK contemporary brand Wax London launches a limited edition collab with mosaic artist Soller on Thursday. It marks its first move into lifestyle and homewares and also sees the menswear brand offering a unisex line-up.
French fashion retailer Spartoo applied for a stock market listing with France’s financial markets authority (AMF) on Monday. Its CEO has offered further insight into the decision and the group's plans.
Gap has confirmed that it’s to close 19 UK and Republic of Ireland stores this summer. It follows a bruising pandemic period and news backs in October that the US firm was launching a review of its European business.
Online sales in the UK fell 9.1% year-on-year last month, although this was against a 61% increase in May 2020. And even with the fall, spend remain strong with sales volumes rising 46% compared to May 2019.
Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
The outdoor apparel and footwear group has announced that it expects its second-quarter sales to exceed the figures achieved by the company in the same period two years ago, before the impact of the Covid-19 pandemic.
The Fort Myers, Florida-based womenswear retailer announced first-quarter sales of $388.0 million on Tuesday, an increase of 38.4% year over year, which also beat analysts’ estimates of $321.0 million.
G7 states have found a way to include Amazon on a list of 100 set to face higher taxes in the countries where they do business by targeting its more profitable cloud computing unit, officials close to the talks said.