INSIGHTS Aeffe reported H1 FY24 revenues of €138.6 million (~$150 million), a 14.9 per cent decrease from last year. The company's EBITDA was €0.4 million in H1 FY24, and net loss rose to €20.4 million. Pret-a-porter revenues fell 12.5 per cent, and footwear and leather goods dropped 25 per cent. Sales in Italy, Europe, Asia, and America all declined. The Aeffe Group, a leading Italy-based firm in the luxury fashion sector, has reported revenues of €138.6 million (approx

INSIGHTS US fashion executives report growing sourcing risks in 2024, including economic uncertainty, forced labour, and geopolitical tensions, as per the US Fashion Industry Association. Inflation, supply chain issues, and trade policies are top challenges. Companies are diversifying sourcing, reducing reliance on China, and exploring new markets. US’ apparel and fashion sourcing executives have reported growing sourcing risks in 2024, ranging from navigating an uncertain economy and

INSIGHTS Burberry appoints Joshua Schulman as CEO and Executive Director, replacing Jonathan Akeroyd by mutual agreement. Schulman, 52, with experience at Michael Kors, Coach, and Jimmy Choo, joins on 17 July 2024, reporting to Chair Gerry Murphy. Murphy praises Schulman's global luxury brands expertise. Schulman expresses his honour and ambition for Burberry's growth. Burberry announces the appointment of Joshua Schulman as Chief Executive Officer and Executive Director. Joshua replaces Jona

INSIGHTS Fashion chain Superdry has announced the cancellation of listing of its ordinary shares on the London Stock Exchange's main market. The last day of trading in Superdry's ordinary shares on the main market was July 12, and the delisting began on July 15. The firm's ordinary shares are now admitted to trading on the securities matching platform of JP Jenkins. Fashion chain Superdry recently announced the cancellation of listing of its ordinary shares on the London Stock Exchange’

INSIGHTS Online retailer Shein announced a €250 million (~$270.92 million) investment in the UK and EU over the next five years. This initiative includes a €250 million (~$216.72 million) Circularity Fund to support start-ups and businesses developing innovative textile recycling technologies. Shein aims to enhance circularity in fashion and foster local entrepreneurship. Shein, the global online fashion and lifestyle retailer, has unveiled a significant commitment to invest €2

INSIGHTS In 2024, fast fashion outperformed in India's retail market with 30-40 per cent growth, according to Redseer Strategy Consultants. Despite a $10 billion market size, it's projected to reach $50 billion by FY31. Key drivers of the fast fashion growth in India include supply chain agility for ultra-value brands and brand loyalty for premium brands. In 2024, fast fashion has emerged as a standout performer in India's retail market, according to a data by by Redseer Strategy Consultant

INSIGHTS From January to May, China's textile, garment, and accessory exports increased by 1.36 per cent to $115.842 billion compared to the same period in 2023. Garment exports rose by 0.2 per cent, while textile exports saw a 2.6 per cent increase. In May alone, exports totalled $26.133 billion. Imports of textile yarn and fabric products also grew by 5.9 per cent.

INSIGHTS Europe's fashion firms saw mixed results in Q1 FY24. Hugo Boss saw an 11 per cent revenue surge in the Americas, while Hermès saw double-digit growth across all regions. Prada achieved 16 per cent growth in Asia Pacific and 46 per cent in Japan. Salvatore Ferragamo faced a 30.8 per cent drop in EMEA. Brunello Cucinelli reported strong growth in the Americas.

INSIGHTS The luxury goods market is facing challenges in Q1 2024, with a slight decline amid rising prices. The Bain & Company study highlights the need for luxury brands to balance catering to top clients and reaching new audiences. Japan continues to thrive, but China and the US face pressures. Brands focus on experiential offerings and strategic investments. Following a record year, the stalled luxury goods market faces a dilemma between catering to top clientele and reaching new audi

INSIGHTS Oxford Industries reported a 5 per cent YoY decrease in Q1 FY24 net sales, totalling $398 million. Full-price DTC sales dropped 3 per cent, outlet sales rose 6 per cent, and wholesale sales fell 16 per cent. The company's operating income declined to $52 million. Tommy Bahama and Lilly Pulitzer saw declines, while Johnny Was grew by 3.5 per cent. US’ Oxford Industries, the parent company of leading lifestyle brands like Tommy Bahama and Lilly Pulitzer, has reported a 5 per cent