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.
Yahoo's stake in Alibaba Group rightly trades at a discount, according to the Chinese e-commerce giant’s vice chairman, Joseph Tsai, because selling it would trigger a big US tax bill.
Alibaba Group Holding Ltd. sold 3 trillion yuan ($463 billion) of goods through its online shopping websites in the year ending March, as it moved deeper into the untapped countryside and courted foreign brands.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
Alibaba Group Holding Ltd. chairman Jack Ma and vice chairman Joseph Tsai will bolster the company’s share buyback as they agreed to spend $500 million of their own money purchasing stock in a vote of confidence for the e-commerce operator.
Alibaba Group Holding Ltd. chairman Jack Ma and vice chairman Joseph Tsai will bolster the company’s share buyback as they agreed to spend $500 million of their own money purchasing stock in a vote of confidence for the e-commerce operator.
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.