The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Creditors of struggling British fashion retailer New Look approved its latest restructuring plan at a meeting on Tuesday, safeguarding the firm's immediate future, it said in a statement.
The company voluntary arrangement (CVA) plan involved landlords agreeing new turnover-based leases at 402 stores to help get the retailer through the coronavirus crisis.
At the meeting the CVA was approved by the requisite majority of New Look's unsecured creditors, it said.
By James Davey; editor: Kate Holton.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.