Garage Clothing Owner Rides Y2K Fashion to $5.3 Billion Fortune
Andrew Lutfy, CEO and majority owner of Groupe Dynamite, saw his net worth surge to $5.3 billion after a sharp rise in shares following the company’s 2024 IPO.
Turkey
Global Markets
How Turkish Brands Conquered the ‘Rest of the World’
Turkish fast-fashion giants LC Waikiki, Koton and DeFacto have rolled out hundreds of stores in high-growth, high-risk frontier markets like Albania, Uganda and Mongolia where rivals H&M and Zara have little or no presence.
How Turkish Brands Conquered the ‘Rest of the World’
Turkish fast-fashion giants LC Waikiki, Koton and DeFacto have rolled out hundreds of stores in high-growth, high-risk frontier markets like Albania, Uganda and Mongolia where rivals H&M and Zara have little or no presence.
Global Markets
Inside Turkey’s Powerful Fashion Factories
Turkish manufacturers like Kipas are harnessing vertical integration, innovation and speed-to-market to help Asos and other brands ‘nearshore’ their supply chains and diversify away from China.
Inside Turkey’s Powerful Fashion Factories
Turkish manufacturers like Kipas are harnessing vertical integration, innovation and speed-to-market to help Asos and other brands ‘nearshore’ their supply chains and diversify away from China.
Global Markets
Turkey’s Apparel Industry Outlines Post-Election Priorities for President
The country’s runoff election came to an end on May 28 with the incumbent Recep Tayyip Erdogan securing another term, prompting calls for economic stability from sector leaders in the fashion manufacturing hub.
Turkey’s Apparel Industry Outlines Post-Election Priorities for President
The country’s runoff election came to an end on May 28 with the incumbent Recep Tayyip Erdogan securing another term, prompting calls for economic stability from sector leaders in the fashion manufacturing hub.
Global Markets
Turkey’s FLO in Talks to Take Over Reebok’s Stores in Russia
FLO chairman Mehmet Ziylan said a deal had not been finalised, denying a report in Russian daily Kommersant that the company had already taken over the business.
Turkey’s FLO in Talks to Take Over Reebok’s Stores in Russia
FLO chairman Mehmet Ziylan said a deal had not been finalised, denying a report in Russian daily Kommersant that the company had already taken over the business.
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Global Markets
Turkey’s Trendyol Raises $1.5 Billion, Valuing It at $16.5 Billion
The Alibaba-backed company has emerged as a leader in Turkey’s fragmented e-commerce market.
Turkey’s Trendyol Raises $1.5 Billion, Valuing It at $16.5 Billion
The Alibaba-backed company has emerged as a leader in Turkey’s fragmented e-commerce market.
Fashion Week
Placing Turkish Design Talent on the Global Fashion Map at Istanbul Fashion Week
BoF speaks to Vogue Turkey’s founding editor-in-chief on how the country’s fashion ecosystem is evolving and introduces 10 designers showcasing at Mercedes-Benz Fashion Week Istanbul to watch this season.
Placing Turkish Design Talent on the Global Fashion Map at Istanbul Fashion Week
BoF speaks to Vogue Turkey’s founding editor-in-chief on how the country’s fashion ecosystem is evolving and introduces 10 designers showcasing at Mercedes-Benz Fashion Week Istanbul to watch this season.
Luxury
Why Luxury Brands Are Suddenly a Lot Cheaper in Turkey
Shoppers have been lining up to splurge at luxury brands like Louis Vuitton, Chanel and Hermès.
Why Luxury Brands Are Suddenly a Lot Cheaper in Turkey
Shoppers have been lining up to splurge at luxury brands like Louis Vuitton, Chanel and Hermès.
Financial Markets
Manu Atelier Expands Into Footwear
The Turkish handbag label, known for its geometric designs, is launching footwear in October and will present the collection during Paris Fashion Week.
Manu Atelier Expands Into Footwear
The Turkish handbag label, known for its geometric designs, is launching footwear in October and will present the collection during Paris Fashion Week.
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Global Markets
Turkey: Troubled, Resilient and Full of Opportunity
For many fashion executives, two years of upheaval has led to uncertainty, but for others Turkey’s increasingly polarised market signals new business opportunities.
Turkey: Troubled, Resilient and Full of Opportunity
For many fashion executives, two years of upheaval has led to uncertainty, but for others Turkey’s increasingly polarised market signals new business opportunities.
Global Markets
Turkish Retailer DeFacto to Cut Debt, Open Stores With IPO Funds
The clothing retailer will use proceeds from a share sale to cut debt and fund an expansion at home and abroad.
Turkish Retailer DeFacto to Cut Debt, Open Stores With IPO Funds
The clothing retailer will use proceeds from a share sale to cut debt and fund an expansion at home and abroad.
Retail
Turkish Retailer Beymen to Proceed With IPO
The luxury retailer will proceed with an Istanbul listing of up to 40 percent of its capital.
Turkish Retailer Beymen to Proceed With IPO
The luxury retailer will proceed with an Istanbul listing of up to 40 percent of its capital.
Retail
Turkish Luxury Retailer Beymen Said to Explore IPO
Its parent company plans to offer as much as 49 percent of the department store and is in talks Bank of America, Citigroup and Deutsche Bank.
Turkish Luxury Retailer Beymen Said to Explore IPO
Its parent company plans to offer as much as 49 percent of the department store and is in talks Bank of America, Citigroup and Deutsche Bank.
The News in Brief
Danone Acquires Protein Drinks Maker Huel in €1 Billion Deal
Huel, which counts actor Idris Elba and TV presenter Jonathan Ross among its investors, has agreed to be acquired by the French consumer goods group in a deal worth about $1.2 billion.
Qatar Investment Authority Eyes 10% Stake in Golden Goose
Qatar’s sovereign wealth fund is preparing to buy a stake in Italian sneaker maker Golden Goose, Corriere della Sera reported Saturday.
Retailers Push UK to Join US and EU Ending Shein Parcel Loophole
British retailers are pushing the UK government to end a tax loophole that has helped online giants Shein and Temu make significant inroads and gain market share.
Exclusive: Deciem to Relaunch The Chemistry Brand
The Estée Lauder-owned beauty company and The Ordinary parent will relaunch one of its original brands as it moves to rekindle its reputation for incubation.
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.
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.