Hugo Boss, a German luxury fashion house, posted 16 per cent decrease in its sales to €555 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €664 million in same period prior year. Gross profit fell from €424 million in Q1 FY19 to €349 million in the reported quarter. Net income reported a loss to €18 million.Pic: Hugo Boss“The Covid-19 pandemic is an unprecedented exceptional situation for our company too,” Mark Langer, chief executive officer of Hugo Boss, said in

Pic: LPP SALPP SA, Polish apparel retailer having Reserved, House, Cropp, Mohito and Sinsay brands in its portfolio, will pay for all the orders that are in the production process in addition to those already produced. The company is cooperating with its suppliers and redistributing its orders in a way that will help them maintain their financial liquidity.In response to Fibre2Fashion's email to LPP asking how the company intends to support its suppliers during the current crisis,LPP sustain

This spring speaks loudly about femininity, whether it be a nod towards the urbane woman, who is being catered to with easygoing ensembles and futuristic yet sensual cuts; or the glam girls who prefer decorative laces, sequins and iridescent surface play.Eccentric shapes meet craftsmanship as designers and high fashion labels flaunt exquisite pattern-making skills. A series of artistic draping, twisting, cut-outs, cinching and folding techniques are used to accentuate silhouettes.Floral embroide

The initial leg of international fashion showcases this year were overcast by the horrific repercussions of the global coronavirus pandemic which has spiralled out of control, affecting each industry equally.The developments saw an umpteen number of designers and high fashion labels holding their shows via ‘closed doors’, streaming them online live for their audience – which has led us to wonder if digital shows can also be the future of fashion runway presentations.Worth mentioning here is Anna

COWES - UK fashion software company Unmade has joined the Ellen MacArthur Foundation's CE100 network of companies which have committed to working towards a circular economy.The London-based company's patented technology enables fashion and sportswear brands to connect demand to production, allowing them to make only the products their consumers want, reducing waste.Unmade is one of eight new global innovators to join the CE100 network which aims to provide a 'pre-competitive space

French fashion house Saint Laurent has announced via its social media that it will skip Paris Fashion Week for spring/summer 2021 as its looks to “take control of its pace and reshape its schedule” in the wake of the coronavirus crisis.The statement on Instagram said that it was “conscious of the current circumstance and its waves of radical change,” and as it adapts to life after the Covid-19 pandemic it will not present its collections in any of the pre-set schedules of 2020.Instead, Saint Lau

After incurring heavy losses for L Brands, Victoria’s Secret was all set to be acquired in a private deal. However, the current financial crisis most firms are facing has put the deal in jeopardy.Image Courtesy: thesomersetcollection.comSycamore Partners, the private equity firm that had agreed to buy a 55 per cent stake in the company in February for a total of US $ 1.1 billion, is now looking to back out.Blaming the violation of their previous agreement, Sycamore Partners has filed a court com

YAMAGUCHI - Uniqlo owner Fast Retailing has spelt out the measures which it says it is taking to protect the workers who make its clothes during the current coronavirus crisis.The company says it has been committed from the outset of the pandemic to pay suppliers for complete orders and those in production, with no change to the payment schedules which were in place prior to COVID-19.It has also committed to using all fabrics or materials already purchased by factories to fulfil its orders or to

As many retailers and brands worldwide have been turning to banks and Governments for loans and aids, German sportswear giant adidas too earlier this month agreed to take a state-backed loan.Image Courtesy: retaillnews.asiaThe company now realises that it does not require the loan and is planning to replace it using a multi-billion euro bond to get through the crisis caused by the pandemic.After the announcement of the postponement of the Euro cup and the Olympics along with the closure of store

Image Courtesy: BurberryKeeping in line with its extended sustainability focus, global luxury fashion brand Burberry has launched a collection featuring 26 pieces from its Spring/Summer 2020 collection.Titled ‘ReBurberry’, the collection is crafted using circular materials and sustainable fabrics.Featuring a mix of menswear and womenswear, as well as a range of sustainable accessories, the edit includes the classic Burberry trench, a series of car coats, Cannon belt packs and backpacks.The outer