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.
French mall owner Klepierre cut its cash flow guidance on Friday, after shops stayed closed for longer than expected, bringing its first-quarter revenues down 11 percent.
Klepierre, Europe’s second-biggest retail landlord after Westfield-owner Unibail, now forecasts a net current cash flow of €1.80 per share for 2021 — compared to the €1.90 it had previously projected.
It said that 55 percent of its stores had already reopened and close to 95 percent were expected to be open by the end of May.
By Sarah Morland; Editor: Jacqueline Wong
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.