Thea French luxury goods company, posted 15 per cent decrease in net sales to €10.6 billion in first quarter (Q1) FY20 compared to sales of €12.5 billion in same period prior year. Sales of Fashion & Leather Goods fell 9 per cent to €4.6 billion (Q1 FY19: €5.1 billion) affected by store closures in several regions around the world.Pic: Christian DiorHowever,reported a rapid growth. Louis Vuitton and Christian Dior, in particular, continued to show creative momentum, as illustrated by the lat

BERLIN - European online fashion platform Zalando is reporting stronger than expected growth with nearly 30 per cent of its customers shopping for more sustainable fashion.Zalando says it expects to grow its gross merchandise volume (GMV) by 10-20 per cent this year with people increasingly shopping for fashion online because of lockdowns for the coronavirus pandemic.And the company reports an increase in interest in sustainable fashion with almost 30 per cent of customers sourcing items classed

Retail continues to take blows from the COVID-19 pandemic as the Q1 financial reports start making it evident.Image Courtesy: www.sourcingjournal.comKontoor Brands revealed a loss of 22 per cent in year-on-year (Y-o-Y) sales amounting to US $ 504 million.The parent company of Wrangler and Lee, the retailer reported 14 per cent decrease in revenue as compared to Q1 of last year. They also reported 16 per cent loss of revenue from the US market that contributed US $ 379 million to the overall sale

Neiman Marcus Group, a US-based luxury, multi-branded, omni-channel fashion retailer, has commenced voluntary Chapter 11 proceedings in theor the Southern District ofTexas, Houston Division. The Group has secured debtor-in-possession (DIP) financing of$675 millionfrom creditors to enable business continuity throughout proceedings.The company has entered into a Restructuring Support Agreement (RSA) with a significant majority of its creditors to undergo a financial restructuring, substantially re

The impact of COVID-19 on retailers can be seen starting from the end of last year when the outbreak was declared a global threat.Image Courtesy: www.hdqwalls.comSuperdry officially released their Q4 figures for FY20 citing 39 per cent loss in sales across the globe.The company also reported a 19 per cent Year-on-Year (Y-o-Y) revenue decrease for Q4 compared to the fourth quarter of last year, closing in at £705 million as to £872 million.Superdry blamed the failure of supply chain and store clo

Milan is the latest city to have opted for the digital streaming fashion week in July.vogue.comDubbed ‘Milano Digital Fashion Week,’ the event is scheduled to take place from 14 to 17 July, and will showcase Spring/Summer 2021 menswear collections alongside both men’s and women’s Spring 2021 pre-collections.Milan-based organisation Camera Nazionale della Moda Italiana (CNMI), will set up a digital platform for streaming which will be accessible through its website –www.cameramoda.it, as well as

Indochino, the Canada-based made-to-measure apparel manufacturer, has introduced a virtual style consultation service!What’s the service all about? It connects customers to a stylist face-to-face for style advice and that too without having to step out of their house.The stylist of the company assists customers with personalised style recommendations by combining their personal style expertise with website and further adding inspiration from visual aids like Pinterest.The advice is based on the

Lindex, a Swedish fashion chain within the, is monitoring the present situation and focusing on securing that wages are being paid, and that both suppliers and workers abide by curfew and other restrictions as mandated by their governments. The company is also providing information about hygiene and importance of keeping distance.Pic: Vytautas Kielaitis / Shutterstock.comIn response to Fibre2Fashion's email asking how the company intends to support its suppliers during the current crisis, a

American men’s apparel company Untuckit has tapped real estate restructuring firm RCS Real Estate Advisors in order to get advise on how to evaluate its stores and leases with landlords amidst the falling economy due to coronavirus pandemic.Image Courtesy: hartfordbusiness.comUntuckit started retailing men’s shirts online in 2011 and opened its first offline store 4 years later and is now present at more than 80 locations throughout the US and Canada.Its physical stores are also present in high-

Vilnius, the capital of Lithuania, conducts a unique fashion week that is apropos to the current coronavirus crisis. They are trading ramps and catwalks with billboards and designer clothes with face masks.Image Courtesy: welovelithuania.comThe ‘Mask Fashion Week’ has its billboards dotted throughout the city featuring men, women and children sporting masks.Designer Julija Janus created a local Facebook group called ‘Mask Your Fashion’, in order to get people to share their innovative face mask