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

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