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.
BERLIN, Germany — Casual clothing chain Uniqlo plans to reopen two stores in Berlin this week, the first in Europe to resume business after nearly all of its stores there were closed due to the coronavirus outbreak.
Japan's Fast Retailing Co. operates 98 Uniqlo stores in Europe. All are closed except for one in the Swedish capital of Stockholm where stores and schools remain open, a company spokeswoman said.
Although most Uniqlo stores in China, its biggest growth market, have reopened as coronavirus infections there have dropped, the outbreak disrupted the company's supply chain and forced it to shut over half of its 750 stores in the country.
This month, Fast Retailing forecast a 44 percent fall in operating profit for the year through August.
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A worsening outbreak in Japan has forced it to temporarily close 289 stores and shorten hours at nearly 300 in its home market as of Tuesday.
By Ritsuko Ando; editors: Clarence Fernandez and Edwina Gibbs
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.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.