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.
Woolworths Holdings, the South African retailer, has reported an overall group turnover and concession sales increase of 5.3 percent to 43.0 billion rand ($2.8 billion) for the 26 weeks ended 27 December 2020. The company points to the sale of its Australian retailer, David Jones’ Bourke Street store property, which occurred last July, as one reason for reaching profit. The Cape Town-based firm reported that its fashion, beauty and home segment sales, where 62 percent of its revenue comes from, dropped 11.2 percent during the same period.
Fibre2Fashion reports that while womenswear and menswear sales were down, kidswear grew market share and home and beauty were the strongest performing groups during the period. Online sales for the segment also increased by 18.8 percent. The company has noted that it will tap into increasing demand for casual and sportswear as a result of the Covid-19 pandemic and a reduced reliance on formal wear.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.