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.
The company’s recent introduction of a marketplace model has led to a flood of listings for new, high-end goods by third-party sellers. Some brands aren’t happy, but there may not be much they can do.
A new study from Trove and Worldly found that if luxury and outdoor apparel brands can grow their resale offering to account for a quarter of total revenue, then they can substantially reduce carbon emissions. Fast fashion, not so much.
The US Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon on Tuesday, charging the online retailer with harming consumers through higher prices in the latest US government legal action aimed at breaking Big Tech’s dominance of the internet.
Malls across the US have been ‘flash robbed’ by groups of about 20 to 30 suspects stealing retail merchandise.