Converse Cuts Jobs as Part of Parent Nike’s Cost-Savings Plan
Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.
Chinese fashion and beauty customers — long pivotal for the global luxury market — are reshaping how and where they shop, according to BoF Insights’ new report.
Fast fashion giant Shein will strengthen its presence in Europe and Mexico, including selling more locally made products, in a bid to diversify its China-centric supply chain.
Western brands shifting supply chains away from China hope to reduce disruptions caused by geopolitical tensions but ‘friendlier’ sourcing hubs aren’t always feasible.
This week, US lawmakers ratcheted up pressure on some of the industry’s biggest names as the relationship with Beijing and Washington continues to deteriorate.
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The country is reporting its highest caseloads since the start of the pandemic, and whole regions are locked down, sending shudders through a still fragile global supply chain.
Further volatility in the property sector could dampen consumer appetite for fashion and luxury goods in some quarters, but it is unclear how big the impact might be.
Blackouts and power shortages at Chinese factories are adding to the growing list of supply chain challenges facing the global fashion industry.
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Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.
During her tenure, Drucker Mann was instrumental in ushering the business into the digital age, said Roger Lynch, Condé Nast’s chief executive.
The miner set out its plans for a potential break-up via a demerger or sale of some of its assets, as it fights off a $43 billion takeover bid from BHP Group.
The company, whose stock soared to a record during the pandemic, has languished as faster inflation and shoppers returning to stores pummelled sales in 2022 and 2023.
Fast-growing DTC sales helped the brand beat Wall Street expectations in the quarter ending March 31.
The troubled British brand’s fiscal fourth quarter will be its worst of the year, according to analyst estimates.
A sale would undo a blockbuster trans-Atlantic merger that took place in stages beginning more than a decade ago.
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.