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 Japanese sporting goods company released its annual results Monday, revealing that net sales declined to 328,784 million yen (around $3.1 billion) due to the impact of Covid-19. Profits decreased 14.9 percent to 152,858 million yen ($1.4 billion).
Globally, the firm was hit hardest at home, across Southeast and South Asian regions and in South Korea and South America, where sales dropped at least 22 percent. Greater China felt the smallest impact, marking a 4.2 percent decline.
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.