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.
Julie Brown
Burberry Sales Rebounded in June. Why Did Its Shares Plunge?
While the pandemic is hurting all luxury brands, investors see specific challenges at Burberry.
Burberry Faces Hong Kong Slump
The British luxury brand saw sales in Hong Kong halve amid anti-government protests, while sales in Europe and mainland China increased.
Burberry’s China Conundrum
Burberry is writing down the value of its Hong Kong stores as clashes between police and pro-democracy protestors devastate the city's retail sector. Chief Executive Mario Gobbetti told BoF he sees little chance of a rebound in the near future.
Burberry Teams With Chinese Internet Giant Tencent as Sales Fall in Hong Kong
Brand sales declined by a double-digit percentage in Hong Kong in the latest period.
The Verdict on Riccardo Tisci’s Burberry
Same-store sales climbed 4 percent in the first quarter after the designer’s product finally hit stores, sending shares up almost 15 percent in early trading.
Brexit at the Cliff Edge: What Fashion Needs to Know
March 29th was meant to be the day the UK left the European Union. Instead, the Brexit drama is far from over and global fashion brands operating in the country face a prolonged period of uncertainty.
Fashion Prepares for Brexit Disaster
Thursday's debate left Britain in Brexit gridlock. While no deal may yet be averted, fashion giants from Kering to Burberry have started planning for worst-case scenarios.
Luxury Stocks May yet Lose Lustre Despite China's Taste for Vuitton
LVMH's reassuring fourth-quarter performance and outlook temporarily assuaged fears that demand in China is stalling and lifted shares at European luxury peers on Wednesday.
Burberry Says Would Pay a High Price for No-Deal Brexit
The British luxury brand said it would cost tens of millions of pounds in tariffs and severely disrupt its supply chain.
Luxury
Burberry Brand Heat Ignites on Tisci’s 'Drops' Amid Transition
As the UK’s largest luxury brand attempts to position itself as a true luxury player, the drops from Riccardo Tisci's runway collection are already driving excitement and shifting perceptions. But with the bulk of Tisci's work still months from hitting stores, the brand has a long way to go.
Burberry Brand Heat Ignites on Tisci’s 'Drops' Amid Transition
As the UK’s largest luxury brand attempts to position itself as a true luxury player, the drops from Riccardo Tisci's runway collection are already driving excitement and shifting perceptions. But with the bulk of Tisci's work still months from hitting stores, the brand has a long way to go.
Burberry Investors Question Destruction of $38 Million in Goods
The British fashion house physically destroyed finished products worth £28.6 million ($38 million) in 2018, according to its latest annual report.
Unpacking Burberry’s New Strategy
Chief executive Marco Gobbetti has outlined an ambitious three-pronged plan to elevate the British brand's positioning. Will it work?
Company Snapshot
The agency she founded represents many of the hot, young photographic talents shaping the new wave of fashion photography.
The News in Brief
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress
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.
Lagardère Group Launches Egyptian Edition of Elle Magazine
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.
Report: FTC to Consider Blocking Tapestry’s $8.5 Billion Capri Takeover
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 Appoints New CEO
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
Emerging Designer Platform The Folklore Raises $3.4 Million
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.
Adidas Is Seeing Hot Demand for Sambas and Yeezys
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.
Sephora, Perfumes and Cosmetics Drive LVMH Sales Growth
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.