Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
Rising living costs and increasingly precarious work are trapping the low-wage workers who power the fashion industry in a crushing squeeze, Sarah Kent reports from Dhaka.
Whipsawing consumer demand is squeezing fashion suppliers and their workers in countries like Bangladesh, Sarah Kent reports from Dhaka.
From activists taking brands to task over corporate greenwashing to the finance gap and antitrust challenges, here’s what fashion leaders need to know from the UN’s high-stakes climate summit.
Osman Yousefzada journeys to post-colonial Bangladesh to meet the workers who make our clothes.
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The country is set to lose export revenue of about $6 billion this year due to cancellations from retailers and vendors.
The government launched a $588 million package to help companies in the garments sector pay staff, but manufacturers have said it is not enough.
The second-largest apparel producer after China is set to lose $6 billion in export revenue as the world's largest retailers cancel orders, jeopardising millions of jobs in the poor South Asian nation.
Bangladesh is strategically critical for global apparel supply chains and it is ultimately in all our interests — from brands and retailers to factories and governments — to work together, collaborate and support each other through this, argues Mostafiz Uddin.
Bangladesh is strategically critical for global apparel supply chains and it is ultimately in all our interests — from brands and retailers to factories and governments — to work together, collaborate and support each other through this, argues Mostafiz Uddin.
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Government officials say The Accord on Fire and Building Safety in Bangladesh is no longer needed as a national regulatory body, the Remediation Coordination Cell (RCC), is able to do the job.
Bangladesh’s deadly Rana Plaza disaster in 2013 sparked an unprecedented effort to improve worker conditions, but life for the country’s garment workers remains difficult and now the industry’s flagship safety initiative is under threat.
Bangladesh’s deadly Rana Plaza disaster in 2013 sparked an unprecedented effort to improve worker conditions, but life for the country’s garment workers remains difficult and now the industry’s flagship safety initiative is under threat.
A High Court in Bangladesh ordered the Accord on Fire and Building Safety to shut down by November 30, but the group says checks on over 500 factories are still incomplete.
Retailers, including Zara and H&M, may have to stop sourcing from about 500 factories if a watchdog set up to improving safety in Bangladesh's garment industry is forced to close next week.
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.