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.
Alejandro Baillères Gual is replacing his father, Alberto Baillères Gonzalez, as president of the five main firms that comprise the family’s Grupo Bal conglomerate, according to a Mexican Stock Exchange (BMV) filing.
Baillères González resigned as president of the mining and industrial companies Peñoles, Fresnillo, PLC, PetroBal, the insurance company GNP, pension fund manager Profuturo, and the luxury department store chain Palacio de Hierro, but will continue to serve as honorary lifetime president of the group’s board of directors.
El Palacio de Hierro’s latest quarterly results revealed a consolidated income of 6.18 billion Mexican pesos ($306.2 million), representing a 9.6 percent decrease compared to the same period last year.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.