In an era defined by digital transformation, the conversation around gender equality has taken on renewed significance. The United Nations Women and the International Telecommunication Union (ITU) recently highlighted essential strategies to address the digital gender divide during the Internet Governance Forum (IGF) 2024. Fostering gender equality in this digital landscape is not merely a […]
This Week: Chanel Under the Microscope
Chanel, the renowned French couture and beauty powerhouse, is the subject of intense scrutiny within the luxury industry. Anticipation is building as the luxury giant is expected to announce a new designer before the Christmas holidays, which adds to the buzz surrounding the brand. However, the reasons for this spotlight extend beyond personnel changes. Historically, […]
Fixing Luxury’s Value for Money Problem
As luxury brands continue to flourish, they face a critical juncture where their value proposition is under intense scrutiny. The COVID-19 pandemic brought unprecedented demand for luxury goods, which many brands capitalized on by increasing prices drastically. While these brands thrive in revenue growth, they encounter a pressing need to rethink their approach toward creativity, […]
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 […]
Next Raises Outlook Again With Profit Set to Top £1 Billion
Next Plc, a prominent player in the British fashion and homewares sector, has once again raised its profit guidance, now anticipating an annual pretax profit of over £1 billion ($1.3 billion) for the first time. This marks the third upward revision this fiscal year, with earlier expectations set at £995 million and initially at £980 […]
The TikTok ‘It Boy’ Who’s Getting Men to Wear Makeup
In the blossoming world of social media, few names resonate quite like Bach Buquen. This 19-year-old Parisian has transformed from a mid-tier content creator into a social media sensation, currently boasting over 6.1 million followers on TikTok. What sets Buquen apart is his challenge to traditional gender norms through makeup, a practice he began in […]
US Port Strike Resolved: What It Means for the Retail Industry
The temporary resolution of the dockworkers’ strike at US East and Gulf Coast ports marks a pivotal moment for the retail industry, especially as the holiday season approaches. The International Longshoremen’s Association (ILA) recently announced that dockworkers have agreed to suspend their strike until January 19, allowing cargo operations to resume while negotiations on a […]
Next Warns of Store Closures After Losing Equal Pay Claim
Next Plc, a leading British fashion retailer, recently sent shockwaves through the industry by announcing potential store closures following a significant legal ruling regarding equal pay. The company is facing pressing financial implications stemming from a tribunal’s decision that recognized wage disparities affecting its predominantly female shop-floor staff compared to their male counterparts working in […]
Under Armour Expects Bigger Charges From Restructuring Plan
Under Armour, the widely recognized athletic-wear brand, recently revised its financial outlook for the current fiscal year. This adjustment comes in light of increased costs associated with its ongoing restructuring initiative, which aims to revitalize the company’s operations. The Baltimore-based giant disclosed that it anticipates operating losses could reach as high as $240 million, a […]
PVH Corp. Reports 6 Percent Sales Drop, Driven By Weak International Segment
In a challenging quarter for global retail, PVH Corp., the parent company of iconic brands Tommy Hilfiger and Calvin Klein, has reported a 6 percent decrease in sales compared to the previous year. This downturn highlights the ongoing struggles in the international market, significantly impacting PVH’s revenue in key regions such as Asia Pacific. For […]