Days after filing for bankruptcy on Friday, US-based department store chain JCPenney said that it will close about 29 per cent of its stores as part of its restructuring process.Image Courtesy: fortune.comThe brand currently retails through 846 stores.The Plano-based retailer announced that it will close about 192 stores by February 2021 and an additional 50 stores in the year post that. This would reduce its store count to about 604.It has also announced shutting of two distribution centres.The

A consortium of luxury retailers, including Harvey Nichols, Liberty London and Selfridges, recently called on the sector to delay end-of-season promotions to January for autumn/winter collections and to July for spring/summer. In an open letter, it called on the industry to consider offering a more balanced flow of deliveries throughout the seasons.“Recently a group of us from across the global fashion industry, from chief executives to buyers and creative directors, came together in a series of

BUCHHOLZ –- German sustainable workwear manufacturer Brands Fashion says it has won gold certification by the Cradle to Cradle Certified product standard for its latest collection after creating a waste-free circular production process.Mathias Diestelmann, CEO of the German company, said the process had been designed to meet the expectations of today's consumers who expected textiles to be produced in an environmentally friendly way and to be recyclable where possible.“The aim is to promote

Online retaining seems to be the best bet for the time being as Farfetch released their tremendously successful Q1 earnings report.Image Courtesy: aboutfarfetch.comThe online luxury retailer has reported a growth of 90.4 per cent in their revenue for Q4 2019, jumping from US $ 157.3 million to a staggering US $ 331.4 million.This rise in revenue is attributed to the 30.6 per cent rise in the digital revenue from their e-commerce website which recorded an active user count of 2.1 million.Farfetch

The key hub of imports and exports of Inditex SA airports is ramping-up operations in Spain, as companies are picking up in Asia reading China. The company uses the airport as a hub for importing fashion and export apparel goods. Under the peculiar distribution model of Inditex, the vast majority of its clothing produced outside Spain must be delivered to the country and then sold to stores worldwide.Despite a government order to put non-essential economic activity at a standstill, the company h

Brands agree to expand return times by closing brick-and-mortar stores and neighborhoods that struggle with shelter guidelines. Adore Me changed its stance immediately from 30 to 90 days. Birdy Gray has revised its exchange and return policy for two weeks for all orders placed after March 20; shoppers can return items through May 31. It is possible to return orders after March 20th. Cuts, a luxury men’s T-shirt brand, extended its window from 20 to 60 days.Returns are already a big challenge for

French luxury house Chanel announced yesterday that it will be increasing the price of its handbags and some small leather goods worldwide to take the hike in the cost of raw materials, caused due to the coronavirus pandemic, into account.The products being affected by this change include Chanel’s iconic handbags – 11.12 and 2.55, its Boy, Gabrielle and Chanel 19 bags, along with certain other small leather goods.As per the fashion house, the price increase will range between 5 per cent and 17 p

Gymshark, a UK-based fitness brand, has opted for Centric Software’s Product Lifecycle Management (PLM) solution to streamline its product development process.Image Courtesy: cdn.dispatchnewsdesk.comCentric software offers the most innovative technological solution for footwear, fashion, retail, outdoor, luxury, consumer goods and home decor companies so as to help them through their transformational journey to digitisation and eliminate manual tasks and errors occurring due to it.The company, w

Stefano Sassi, who was leading Italian luxury house Valentino, is leaving the company.Image Courtesy: businessoffashion.comAnd, who’s stepping in!The luxury label has roped in former Gucci executive Jacopo Venturini as the new Chief Executive to lead the company from June onwards.Jacopo will now take the helm as luxury sales decline worldwide.Stefano was responsible for effecting a turnaround in the fashion house since 2006 and bringing its name to the fore. He is leaving the company after 15 ye

Italian luxury fashion brand Redemption has teamed up with Livia Firth’s sustainability and communications consultancy Eco-Age to strengthen its commitment to sustainability with a new strategy, ‘Re|set the Future’.Redemption, founded by Bebe Moratti in 2013, has become known for combining sexy, rock ’n’ roll looks with conscious and socially responsible design and its updated strategy is part of its plan to accelerate the label into a “true sustainable” brand.The idea of the new strategy is not