Thea Swedish multinational clothing-retail company, reported 50 per cent sales decline to SEK 28,664 million in second quarter (Q2) FY20 ended of May 31, 2020 compared to sales of SEK 57,474 million in same period prior year. However, online sales increased 36 per cent during Q2 FY20. Company incurred a loss of SEK 4,991 million in the quarter.Pic: H&M“At most around 80 per cent of our stores were closed in the second quarter and in those markets where stores were open, demand was significan

Dickson Concepts(International) Limited, a Hong Kong based luxury goods company, has reported 26.7 per cent sales decline to HK$ 2.93 billion (Hong Kong dollar) in fiscal year 2020, that ended on March 31, 2020 compared to sales of HK$ 4.00 billion in previous year. However, profit for the year increased to HK$ 645.82 million (FY19: HK$ 411.34 million).Gross profit during FY20 fell to HK$ 1.23 billion (HK$ 1.99 billion). Operating profit rose to HK$ 737.95 million ($463.86 million).Sales of fash

NEW YORK - Fashion brand Ralph Lauren has revealed new targets on greenhouse gas emissions and water stewardship in its 2020 Global Citizenship and Sustainability Report.The reportincludes the establishment of a science-based target for a 30 per cent reduction in greenhouse gasemissions and a collaboration with World Wildlife Fund (WWF) toreduce water use by 20 per cent.President and CEO Patrice Louvet said: “The global COVID-19 pandemic and the acceleration of the movement to end racial injusti

Making an addition to the list of high fashion labels rethinking the fashion week model in the wake of COVID-19 is Burberry which has announced its own take on the presentations.Image Courtesy: wwd.comForgoing the conventional September runway show, Burberry’s Spring/Summer 2021 collection will be ‘an immersive show experience set in the British Outdoors’.A day before the beginning of the London Fashion Week, i.e., 17 September, the British luxury label will live stream the show for all who woul

As masks become the raving new essential in shoppers’ wardrobes, Fast Retailing-owned Uniqlo found itself swamped as consumers queued outside stores and crashed the official website to get their hands on the AIRism masks the day they were launched.Image Courtesy: asia.nikkei.comThe masks, made with breathable fabric used in the brand’s AIRism underwear collections, are being sold in packs of three for 990 yen or roughly US $ 9 with three sizes available.The huge response for the washable AIRism

The global trade of true hemp (raw or retted) has shown a considerable growth in 2019. Total trade grew 51.69 per cent from 2017 to 2019, according to data from TexPro. The global trade of true hemp was $17.46 million in 2017, which moved up to $26.49 million in 2019. The total trade of true hemp rose 21.95 per cent in 2019 over the previous year.Pic: ShutterstockFurther, the trade of true hemp is anticipated to grow to $50.03 million in 2022 with a rate of 88.90 per cent from 2019, according to

After facing serious troubles last year, Forever 21 is trying to re-enter UK and Europe through an online-only strategy.Image Courtesy: www.huffingtonpost.comThe company has started their e-commerce operation in the regions which will allow the retailer to overcome the current hurdle of social distancing that continues to plague the retail industry.The company has partnered with e-commerce company Global-e, which they had worked with in the past.It will be stocking all the international merchand

Puma is one of the biggest sports retailers who have taken the sustainability route by incorporating biodegradable materials into their apparel.Image Courtesy: www.hypebeast.comNamed ‘Design to Fade’, Puma’s latest collection speaks for itself in terms of being environment-friendly.By collaborating with a Dutch project called ‘Living Color’ and Swedish design company ‘Streamateria’, the sportswear brand has mixed both of their respective technologies to create a line of biodegradable clothing.Th

ENGLAND - Huge queues of shoppers outside Primark fast fashion stores, as 'non-essential' shops reopened for business in England, and rising retail sales in the US, raise fears that hopes for a post-pandemic reset in the industry may be overly ambitious.Surprise new figures from the US show that retail sales increased a record 17.7 per cent month-on-month in May, though total spending remained below pre-coronavirus levels following the largest monthly drop on record in April.Orsola de Ca

In this junction of the COVID-19 pandemic, many well-established realities and practices of the world are changing rapidly. Industries, businesses, social dynamics, the lifestyle are few to name and so the definition of fashion and the fashion industry is also going to see a major change. It seems the dominating concept of ‘Fast Fashion’ is going to be affected by the need for function, protection and serviceability and so the word ‘Functional Fashion’ is to become the next buzz word in the fash