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.
Four years after a splashy launch around the G7, the CEO-powered climate drive says it’s gearing up to accelerate action. But it has lost high-profile members and so far delivered little more than a handful of pilot projects.
Four years after a splashy launch around the G7, the CEO-powered climate drive says it’s gearing up to accelerate action. But it has lost high-profile members and so far delivered little more than a handful of pilot projects.
The Swedish fast fashion giant posted a surprise profit in the first quarter, in part due to its increased stake in resale platform Sellpy. It offers a glimpse at how the company hopes to decouple its growth from impact.
This week, Versace and Alexander McQueen named new CEOs, following changes at the top of Chanel, Ferragamo and Burberry. In a sector known for favouring seasoned insiders, non-traditional picks with outside perspectives remain rare.
As big brands get serious about transforming their businesses for the future, executives with experience driving climate and social impact strategies are in hot demand.
The executive’s first 14 months running the fast fashion giant were marked by the pandemic. Now her company’s at the centre of a backlash in China against retailers who criticise human rights abuses in the cotton-producing Xinjiang region.
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
To mitigate future ruptures, fashion players must move away from transactional relationships with suppliers in favour of deeper partnerships that bring greater agility and accountability.
BoF breaks down the consumer and tech trends luxury brands need to know to maximize their Singles' Day strategies this year.
The retailer aims to cut its store number by a net 250 next year, representing 5 percent of its current network.
China’s fashion capital will be the first to completely return to live, physical shows but insiders concede it’s not quite ‘business as usual.’
The fast fashion retailer, which will publish its full quarterly report on October 1, reported pretax earnings of around $229 million.
With retailers looking to sell old inventory and seasonless basics, new orders for factories in garment hubs like Bangladesh are down by as much as 45 percent compared to last year.
The long-time H&M executive has driven several initiatives to improve sustainability at the Swedish fast fashion giant.
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.