De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Frankfurt, Germany
News & Analysis
Zalando to Launch €50 Million Share Buyback
The buyback would run from May 11 until June 4 to cover its management stock option programmes.
Zalando to Launch €50 Million Share Buyback
The buyback would run from May 11 until June 4 to cover its management stock option programmes.
Retail
German Department Store Galeria Files for Creditor Protection
With all of its outlets closed, the department store chain is losing roughly €80 million in weekly revenue.
German Department Store Galeria Files for Creditor Protection
With all of its outlets closed, the department store chain is losing roughly €80 million in weekly revenue.
Global Markets
Global Fashion Group Says It Is Making Progress Towards Profit
GFG, which runs fashion websites in Russia, Latin America and south-east Asia, reported second-quarter sales rose a currency-adjusted 16.5 percent.
Global Fashion Group Says It Is Making Progress Towards Profit
GFG, which runs fashion websites in Russia, Latin America and south-east Asia, reported second-quarter sales rose a currency-adjusted 16.5 percent.
News & Analysis
Zalando to Build Rotterdam Warehouse to Serve Western Europe
The facility will start operating in 2021, and will eventually employ 1,500 people with a storage capacity of 16 million items.
Zalando to Build Rotterdam Warehouse to Serve Western Europe
The facility will start operating in 2021, and will eventually employ 1,500 people with a storage capacity of 16 million items.
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Financial Markets
Global Fashion Group IPO Mostly Backed by Existing Shareholders
Facing low investor demand, the e-commerce fashion group cut its initial share price from up to €8 to €4.50.
Global Fashion Group IPO Mostly Backed by Existing Shareholders
Facing low investor demand, the e-commerce fashion group cut its initial share price from up to €8 to €4.50.
Retail
Global Fashion Group Postpones IPO
The Asia and Latin America-focused fashion e-tailer is postponing its listing until July due to low investor demand, according to sources.
Global Fashion Group Postpones IPO
The Asia and Latin America-focused fashion e-tailer is postponing its listing until July due to low investor demand, according to sources.
Financial Markets
Emerging Markets Retailer GFG Prepares for IPO
The online retail group, valued at €1 billion with 11.2 million active customers, has announced its plans for its listing in Frankfurt.
Emerging Markets Retailer GFG Prepares for IPO
The online retail group, valued at €1 billion with 11.2 million active customers, has announced its plans for its listing in Frankfurt.
News & Analysis
Adidas Slumps as Retro Shoes Wane on European Home Turf
The sportswear company expects sales growth to slow this year due to the retro footwear boom losing momentum in Europe and supply chain problems in North America.
Adidas Slumps as Retro Shoes Wane on European Home Turf
The sportswear company expects sales growth to slow this year due to the retro footwear boom losing momentum in Europe and supply chain problems in North America.
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Luxury
Europe Revival Lifts Sales at Hugo Boss
Sales rose 6 percent in the second quarter as the German fashion house pursues a turnaround in its home market and updates some of its ranges to try to draw in younger shoppers.
Europe Revival Lifts Sales at Hugo Boss
Sales rose 6 percent in the second quarter as the German fashion house pursues a turnaround in its home market and updates some of its ranges to try to draw in younger shoppers.
News & Analysis
Amazon Workers in Europe Strike on Prime Day
Thousands of workers are on strike in Germany, joining colleagues in Spain and Poland in taking action that coincides with a major sales promotion.
Amazon Workers in Europe Strike on Prime Day
Thousands of workers are on strike in Germany, joining colleagues in Spain and Poland in taking action that coincides with a major sales promotion.
News & Analysis
German Discount Retailer NKD Put Up for Sale, Sources Say
Private equity owner OpCapita is seeking a buyer for the company valued at €300-350 million, hoping to benefit from high equity valuations.
German Discount Retailer NKD Put Up for Sale, Sources Say
Private equity owner OpCapita is seeking a buyer for the company valued at €300-350 million, hoping to benefit from high equity valuations.
News & Analysis
How Fashion Should (and Shouldn’t) Embrace Artificial Intelligence
The biggest opportunities are in trend forecasting and better supply chain management, but AI in customer service could backfire if brands jump in too early, argues Chris Boos.
How Fashion Should (and Shouldn’t) Embrace Artificial Intelligence
The biggest opportunities are in trend forecasting and better supply chain management, but AI in customer service could backfire if brands jump in too early, argues Chris Boos.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.