Casper, the DTC mattress brand, has announced the departure of their CFO and COO, Greg Macfarlane, in a press release. He will be relieving himself of the position on 15 May and is said to be pursuing interests outside the sleep industry.The retailer had to close all its stores temporarily, which has resulted in heavy losses and therefore is working to minimise costs.After furloughing most of their employees earlier this month, the retailer has now taken the tough decision to lay off 78 employee

a global luxury group, posted 15.4 per cent decrease in its revenue to €3,203.2 million in first quarter (Q1) FY20 ended in March 2020. The group reported encouraging signs from the Mainland China with the reopening of most of its stores in March. Also, a 21.1 per cent growth was reported in the e-commerce business during the quarter.“After a very promising start to the year for all our Houses, the rapid spread of Covid-19 affected our performance in our main markets,”said in a press release.The

History has seen creative solutions during times of stress and struggle. This time around, as the COVID-19 pandemic cripples economies worldwide, British Fashion Council has announced its plans to revive London Fashion Week in a new format.According to a recent post on Instagram, the council suggested that the current schedule of London Fashion Week will be taken to a digital-only platform.The platform will cover all the fashion shows that are set to display the collections in the next 12 months

Vestiaire Collection, a luxury re-sale platform based in Paris, has secured total funding of US $ 64 million, which will be utilised for its expansion in USA and Asia.Image Courtesy: drapersonline.comThe French company has been working hard to expand to countries like South Korea and Japan with the support of Korelya Capital, which is backed by Korean conglomerate Naver, one of its investors.Additionally, it plans to launch the platform in USA in the early summer and in Asia before the end of 20

In an effort to ease the financial catastrophe that has hit the global fashion industry, the UK-based fast fashion retailer Primark has agreed to buy additional stock of finished and unfinished products worth £300 million from its suppliers overseas.Image Courtesy: www.lavozdeltajo.comThis follows the shockwaves set by major retailers that were reluctant to pay for orders that had been placed early on. Retailers like GAP, Zara, H&M and more have been struggling to keep up with its vendors am

DUBLIN - Fast fashion giant Primark has agreed to pay its suppliers for all completed orders, as well as those in production, providing they had been scheduled for shipment by 17th April.The company, whichwas criticised after it was named as the brand to have cancelled or postponed the most orders from suppliers in Bangladesh, says the move will cost it £370 million (US$462m).Primark had previously agreed to pay the wages of garment workers in its supplier factories for this work but critics poi

After a disastrous hit by the COVID-19 pandemic, Gucci has announced plans to reopen its Italian facility to start working on prototyping of new merchandise.According to Gucci, they have established a deal with Italian health officials to constantly monitor safety measures for all workers that will be working at the facility.Italian Government is yet to announce plans to end the lockdown; however many suspect that the peak period of the pandemic has passed and the spread of the virus will come t

Amidst the Coronavirus crisis, international fashion retailer H&M has collaborated with London-based luxury pyjama label Desmond & Dempsey – the brainchild of designer duo Molly Goddard and Joel Jeffery.The women’s daywear collection is the first ever by the brand to have become popular owing to its unique hand-painted prints “inspired by Australia in easy-going silhouettes and lightweight natural fabrics.”Launching on 23 April, the limited edition collection includes “laidback yet chic

In addition to large- donations to COVID-19 aid groups, Gucci and H&M are also contributing their social media pages to the World Health Organization in search of wider-, more prominent outlets.Dazed notes that the World Health Organization (WHO) will take over Instagram from Gucci — which boasts 40 million followers — as well as other social media outlets from the brand. Official public service information, including methods to protect the health, protection, and well-being of global popula

The coronavirus pandemic has put the entire fashion industry on the back foot in barely two months. Wuhan in China announced the lockdown on 23 January, and that time, nobody in the rest of the world predicted the outspread of this virus will be such massively devastating. The fashion retailers are forced to shut their stores, halt the production, furlough employees and even file for bankruptcy in the extreme case. Now when the stakeholders are focusing on crisis management and contingency plann