French luxury group LVMH has recorded 44.2 billion euros in sales in the first nine months of the year, 46 % more than in the same period last year and another new record. However, the explosive growth slowed down somewhat in the past three months.
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Belgian shoe store chain Torfs says its e-commerce is just as profitable as the sales made in physical stores. There is, therefore, no reason to move the e-distribution centre abroad, CEO Wouter Torfs says.
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Belgian shoe chain Torfs is launching a brand new concept for its city stores: larger, with more space for fashion and a great deal of attention for sustainability. The most striking element, however, is the strong focus on the youngest customers.
The owner of Dutch fashion chain Scotch & Soda, Sun Capital, has converted a shareholder loan of 200 million euros into shares. The investment company is also supplying the fashion chain with 15 million euros in fresh capital.
Dutch fashion brand Scotch & Soda is significantly expanding its store network: before the end of the year, fifteen brick-and-mortar stores and seven shop-in-shops will be added across the globe.
Zalando wants its customers to throw fewer items of clothing in the bin. Hence, the company invests in various circular initiatives, such as repair services and a platform for textile waste.
H&M Group is optimistic about the future after a solid recovery in the past nine months: sales grew by 14 per cent, but it is above all the net profit that has recovered from the coronavirus and has increased sevenfold.
Online fashion retailer Zalando has taken another step in its quest to make its operations more sustainable. It is co-investing in a capital round of the Finnish company Infinited Fiber, which recycles fibres from cellulose-rich materials ranging from old textiles to cardboard and wheat straw.
Gucci has launched Vault, an online concept store offering vintage archive pieces of the brand as well as contemporary designers. The webshop manifests itself as a digital magazine.
Luxury brand Balenciaga goes virtual: the popular computer game Fortnite will have a Balenciaga shop where players can buy virtual outfits. The clothes will actually be for sale in the physical shops as well.
Due to the corona pandemic and the global transport crisis, Nike is facing serious supply problems. The sportswear giant warns that some of its products may not be available at short notice.
FNG, owner of Scandinavian online fashion store Ellos, made a loss of 77 million euros last year. Meanwhile, the management is working on a rescue plan, which will be presented later this year.
The Dutch department store chain has joined The Climate Pledge, a global partnership to accelerate action to tackle the climate crisis. In concrete terms, de Bijenkorf has committed to becoming climate-neutral by 2040, ten years earlier than stipulated in the Paris Agreement.
H&M's sales rose less than expected in the three months leading up to the end of August and remained well below the pre-pandemic levels. Covid restrictions are still keeping many shoppers away from stores.
Primark has promised to significantly increase its efforts to produce more sustainable clothing over the next ten years. At the same time, the fashion discounter does not want to compromise on its pricing strategy: many experts have serious questions about this, especially now that the chain may (finally) be taking on e-commerce.
The world's largest fashion retailer has weathered the impact of the Covid crisis: Inditex, the parent company of chains like Zara, saw its sales rise above pre-Covid levels and is again profitable.