Multiple Bidders Emerge to Buy Bankrupt Recycler Renewcell
A deadline to submit initial offers passed on Thursday, with a final deal expected to close mid-April.
Jumia Egypt’s Chief Executive Officer Hesham Safwat says he’s urging the government to regulate informal retailers by offering them tax incentives and cheap loans that would allow them to market their goods online.
Arafa Holding, the Egyptian maker of clothes for global brands such as Giorgio Armani and Massimo Dutti, plans to expand sales to the US as it aims to “aggressively” target the middle-income segments.
Farmers in Egypt are abandoning cotton and are switching to grains as the country wrestles with one of the biggest budget deficits in the Middle East.
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A deadline to submit initial offers passed on Thursday, with a final deal expected to close mid-April.
Shoppers “get bored very quickly,” Régis Schultz, JD Sports’ CEO, said.
British sportswear retailer JD Sports said trading conditions remained challenging after its like-for-like sales dropped in January, resulting in fourth-quarter growth of just 0.1 percent.
Luxury watchmaker Favre Leuba plans to unveil more than two dozen timepieces later this year, priced as much as 24,000 Swiss francs ($26,489), as part of a brand relaunch that seeks to expand the Swiss pioneer’s appeal beyond its majority Indian consumer base.
L Catterton, backed by French luxury group LVMH Moet Hennessy Louis Vuitton SE, is launching a new vehicle to invest in Indian consumer-sector companies as it increases the focus on the fastest-growing major economy in the world.
The online market for secondhand apparel hit $20 billion in the US in 2023 and is expected to more than double over the next five years, according to a new report from ThredUp and Global Data.
The Swedish retailer recorded operating profit of 2.08 billion Swedish krona ($196 million), with operating margin more than doubling from the year before.
Major UK fast fashion retailers will change the way they promote the environmental credentials of their clothes after being accused of greenwashing by a UK watchdog.