BoF sits down with Justin O’Shea, buying director of MyTheresa.com, to understand how his hands-on attitude helped to turn a Munich-based store into a successful global luxury retailer that generates $130 million in annual revenue. The Creative Class is supported by CLIO Image, an awards show honouring creative excellence in fashion, beauty and retail.
Puma SE boosted its outlook for 2014 sales as the footwear maker’s investment in a new ad campaign and sponsorships started to take hold.
Adidas AG reported third-quarter profit that beat analysts’ reduced estimates as the company made strides in soccer and running sales, helping offset declining revenue at its golf business.
Hugo Boss AG, the German fashion house whose artistic director has clothed Michelle Obama, lowered its sales and operating profit targets for the year due to a “substantial slowdown” in European demand.
Proceeds from the listing of Rocket Internet shares were lowered to around 1.4 billion euros ($1.75 bln), from an initially targeted 1.6 billion euros, regulatory filings to the Frankfurt Stock Exchange late on Friday show.
A group of investors are planning to bid about 1.7 billion euros ($2.2 billion) for Adidas AG’s Reebok unit.
German sportswear firm Adidas has appointed two new senior managers as part of an ongoing overhaul of its top leadership aimed at making the firm quicker to respond to consumer trends to keep up with bigger rival Nike.
Adidas AG placated investors who have sent its shares down 35 percent this year, saying it plans to buy back as much as 1.5 billion euros ($1.9 billion) of its stock over the next three years.
Zalando SE surged as much as 14 percent on its trading debut in Frankfurt, as Europe’s largest online fashion retailer kicked off the biggest week in German technology stock sales in a decade.
Beset by plummeting golf sales, a sidelined basketball star and weakness at its sneaker maker Reebok, Adidas AG is struggling to increase revenue in the U.S. amid the dominance of Nike Inc. and growth of upstart rival Under Armour Inc.