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.
The 68-year-old Tokyo-based company reported that sales declined to 183.8 billion yen (around $1.7 billion) for its fiscal year ending February 28, down from 222.3 billion yen ($2 billion) the previous year, Fibre2Fashion writes.
Adastria owns 26 menswear, womenswear and lifestyle brands, including Lowry’s Farm and Global Work; it operates 1,332 stores in Japan and 68 stores internationally.
Though the group’s sales in China increased 165 percent to 1.2 billion yen ($11.1 million), this failed to offset losses dealt to its overall network in the wake of Covid-19. Its problems aren’t over yet: Japan is currently bracing for its fourth wave of infections.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
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.