Two Australian non-executive directors resigned from David Jones last week, hot on the heels of CEO David Thomas, the third head of that business to leave in five years.
Heritage retailers and global e-tailers are locked in battle for the Australian consumer, pitting old guard against new guard while fashion brands get caught in the crossfire.
Woolworths Holdings Ltd., the South African food and clothing retailer which bought David Jones last year, may sell two of the Australian retailer’s sites as it looks to revamp other stores in central business districts.
As both a source of production and a consumer market, Africa is poorly integrated into the global fashion system, leading to lost business opportunity.
The veteran retailer leads South Africa's largest department store and oversaw its acquisition of Australia's David Jones chain.
Spanish beauty and fragrance group Puig Brands SA shares rose after the company and its founding family raised €2.6 billion ($2.8 billion) in an initial public offering, in Europe’s biggest listing so far this year.
The former Public School and DKNY designer will launch the cap brand’s first apparel line.
Nordstrom shares rose 6 percent on the news, giving the company a market value of about $3.3 billion.
A double-digit decline was attributed to the brand’s distribution changes.
Spatch will debut on May 4 with a nine-piece collection of skin-perfecting products designed for professional and consumer use.
The Danish company, which makes more pieces of jewellery than any other in the world, said organic sales are projected to rise 8-10 percent this year.
Despite a brief uptick in sales, up 24 percent between 2021 and 2022, the brand’s growth has stalled.
The move comes as System owner Mike Obenson aims to turn what began as a bi-annual print title into a global media brand with a stronger digital offering.
