Uniqlo Global Brands has reported a huge fall in its revenue in the first quarter of FY2021.Image Courtesy: hokkaidoguide.comThe fashion stalwart saw the revenue of its Global Brands segment drop by a worrying 22.3 per cent to clock 28.0 billion yen for the said period.The segment also saw a slight operating loss of 0.2 billion yen for the quarter. Notably, it had made a profit of 1.8 billion yen in the first quarter of FY2020.Brand-wise, the retailer’s Theory brand posted massive fall in its re

UNIQLO International has kicked off its FY2021 on a positive note as operating profit of the brand’s international stores (outside Japan) increased amidst declining revenues in Q1 (September-November period).The revenue fell to 260.6 billion yen (down 7.20 per cent), while operating profit surged to 41.4 billion yen in Q1 of FY 2021, noting 9.50 per cent increase from the same period of FY 2020 – thanks to strong revenues and profit gain from UNIQLOGreater Chinaas strong performances in Mainland

Fast Retailing’s fashion brand GU has reported a positive Q1 (September-November period) of FY 2021 both in revenues and profits.The brand clocked 76.5 billion yen, noting 4.90 per cent Y-o-Y growth in Q1 ’21, while operating profit valued 13.6 billion yen with a significant surge of 9.90 per cent.The same-stores sales of the brand increased due to rising demand of its sweat-style knitwear products for which brand ran strong advertising campaigns.The other products which grew were the ones that

There are reports that British sportswear retailer JD Sports is in talks with Authentic Brands to come together and bid jointly for the ailing brand Topshop.Image Courtesy: the industry.fashionThe discussion, still in its early stages, aims to acquire the operations of the brand from the administrators of Arcadia Group.Notably, Deloitte, who are the administrators of Arcadia Group, which had collapsed in November 2020, is engaged in securing deals for as many of Group’s assets as possible.If the

More jobs to be hit in the UK!Image Courtesy: express.co.ukFollowing the recent sale of EWM and Bonmarche to Purepay Retail Limited, now Debenhams too has accelerated its winding down process.Also Read:And in this regard Debenhams will soon shut down its 6 stores in the UK – thereby hitting at least 320 jobs. That’s more worries!The fashion retailer’s famous Oxford Street flagship too is amongst the stores to be permanently shut down, as the retailer’s administrators have failed to agree to any

MARSEILLE - French fashion brand American vintage has committed to a ban on the use of wool from angora rabbits in all future collections following long-standing pressure from animal welfare campaigners.The PETA animal rights group, which has been urging the brand to end its use of angora wool for nearly two years, welcomed the move by the company which has more than 1,500 outlets in ten countries.American Vintage joins a list of more than 400 brands and retailers, including H&M, Mango, Gucc

PDS Multinational Fashions Limited, one of the world’s largest design-led sourcing, manufacturing and supply chain platforms catering to leading brands and retailers globally, has appointed Sanjay Jain as chief executive officer with effect from January 15, 2021. Jain has previously served as CEO of Future Retail Limited and Group CFO of Future Group.Pic: PDS Multinational Fashions LtdJain has over 26 years of experience in leading transformation across various companies and helping them unlock

Asos, the London-based online fashion retailer, has announced its plans to invest £90 million in its new warehouse in Lichfield, Staffordshire.Image Courtesy: marketingweek.comThe announcement will help the retailer in creating 2,000 jobs over the course of next 3 years. That’s some good news for those looking for jobs in these tough times.The new warehouse, spread over a wide area of 437,000 square feet at Fradley Park, is expected to be operational in next 12 months.Asos has said that the timi

The struggle continues for this ailing American clothing retailer!Image Courtesy: wwd.comChristopher & Banks, the retailer known for women’s apparels for the 40-60 age group, revealed on Thursday (7 January) that it has received notices of default on a term loan.Besides, it said that it has also received default notices on secured vendor programme and lease on its corporate headquarters.More on this, the retailer said that it’s working closely with its advisers to evaluate the notices it has

There has been a contraction in Canadian apparel import values in November ’20 as compared to October ’20 but the imports have surged on Y-o-Y basis as against November ’19.The import valued US $ 745.35 million in November ’20, marking 14.65 per cent surge from November ’19, but it declined 5.39 per cent compared to October ’20 when importers had valued US $ 966.67 million.The monthly drop in November suggests that Canada had increased its sourcing in October – which was the best month for Canad