In a surprising turn of events, US retail sales surged 0.7 percent in November, surpassing analysts’ expectations and continuing an upward trend that began in October. This positive development, as reported by the Commerce Department’s Census Bureau, demonstrated a robust economic environment heading into the year-end holiday season. Previous results showed an upwardly revised 0.5 […]
Macy’s Delays Results After Finding Employee Hid Millions in Delivery Expenses
In a startling development for investors and stakeholders, Macy’s has postponed its third-quarter earnings report after uncovering a significant accounting issue involving a former employee who concealed millions of dollars in delivery expenses. The retailer estimated that this employee, who is no longer with the company, misrepresented between $132 million to $154 million in delivery […]
Frasers Calls for Removal of Boohoo Director Mahmud Kamani
In a striking move within the competitive landscape of the UK retail sector, Mike Ashley’s Frasers Group Plc has prompted Boohoo Group Plc’s shareholders to oust co-founder Mahmud Kamani from his directorial position. This call for action stems from claims of ineffective governance and financial mismanagement, marking another chapter in the ongoing tussle between two […]
BoF VOICES 2024: Confronting an Age of Uncertainty
The Business of Fashion (BoF) has established itself as a crucial platform for discussing the shifting dynamics within the fashion industry, and the BoF VOICES 2024 event held in Oxfordshire is a testament to this. This ninth edition, underpinned by a diverse lineup of global leaders, sought to address existential challenges through a remarkable fusion […]
Next Launches Luxury E-Commerce Site ‘Seasons’
UK retail giant Next has recently made a significant move in the luxury online shopping sector with the launch of Seasons, a dedicated e-commerce platform aimed at high-end brands. This initiative comes in the wake of various challenges faced by established luxury e-tailers, such as the collapse of Matches Fashion and the consolidation seen in […]
Dior Names Bollywood Star Sonam Kapoor New Ambassador
In a strategic move that highlights the burgeoning potential of the Indian luxury market, Christian Dior Couture has appointed Bollywood icon Sonam Kapoor as the latest ambassador for its womenswear, designed by Maria Grazia Chiuri. This collaboration marks a significant step for Dior as luxury brands increasingly recognize India’s growing consumer base, expected to spend […]
Zegna Group’s Third Quarter Sales Fall 7 Percent
The Italian luxury menswear group Zegna has reported a 7 percent decline in total sales for the third quarter of 2024, raising concerns about the future of the luxury market. Total revenue for the quarter hit €397 million ($429.8 million), a significant downturn attributed largely to the plummeting demand for luxury goods in key global […]
News Corp Initiates Legal Action Against Perplexity Over Copyright Infringement
In a significant legal move, News Corp, the prominent media conglomerate behind prestigious publications such as The Wall Street Journal and the New York Post, has filed a lawsuit against the AI-powered search engine Perplexity. The lawsuit centers on allegations of copyright infringement, with claims that Perplexity has unlawfully utilized extensive portions of News Corp’s […]
Gucci Picks Florence for Next Cruise Show
Gucci has made a significant announcement, declaring that its upcoming Cruise 2026 collection will debut in Florence, Italy, on May 15, 2025. This choice of location is particularly meaningful, as it is the city where the iconic fashion house was established by Guccio Gucci in 1921. For a brand like Gucci, rich in history and […]
Moncler Stages Mega-Scale ‘Genius’ Event in Shanghai
Moncler, the renowned Italian skiwear brand, has set a new benchmark in luxury fashion with its impressive “The City of Genius” event held in Shanghai. Taking place inside a former shipyard in the dynamic heart of the city, the event showcased the latest from Moncler’s ongoing collaborations with a roster of celebrities and influential designers, […]