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.
fast-fashion
Sustainability
Brands Say They Want to Keep Workers Safe. Not All Are Willing to Pay for It.
Walmart and other large fashion retailers tout their progress on worker safety to consumers. But suppliers say they’re often on their own when it comes to improving factory conditions.
Brands Say They Want to Keep Workers Safe. Not All Are Willing to Pay for It.
Walmart and other large fashion retailers tout their progress on worker safety to consumers. But suppliers say they’re often on their own when it comes to improving factory conditions.
Retail
From West to East: Recentering the Fashion World
This week, Uniqlo’s Japanese owner Fast Retailing became the world’s most valuable fashion company, a reflection of just how much the pandemic is recentering the global fashion sector from the United States and Europe to Asia.
From West to East: Recentering the Fashion World
This week, Uniqlo’s Japanese owner Fast Retailing became the world’s most valuable fashion company, a reflection of just how much the pandemic is recentering the global fashion sector from the United States and Europe to Asia.
Retail
Why Asos Needs Topshop
Asos just spent over $400 million to acquire the legacy high street brand, boosting the online retailer’s place in the race to dominate the surging e-commerce market.
Why Asos Needs Topshop
Asos just spent over $400 million to acquire the legacy high street brand, boosting the online retailer’s place in the race to dominate the surging e-commerce market.
Retail
The Mysterious $15 Billion Brand Taking on Boohoo and Fashion Nova
Shein did not manage to acquire Topshop, but it could now be looking for other struggling retailers to cement its position as China’s leading exporter of ultra-fast fashion with global ambitions.
The Mysterious $15 Billion Brand Taking on Boohoo and Fashion Nova
Shein did not manage to acquire Topshop, but it could now be looking for other struggling retailers to cement its position as China’s leading exporter of ultra-fast fashion with global ambitions.
Retail
Asos Buys Topshop, Sister Brands in £295 Million Deal
The e-commerce company also acquired the Topman, Miss Selfridge and HIIT brands from failed retailer Arcadia Group.
Asos Buys Topshop, Sister Brands in £295 Million Deal
The e-commerce company also acquired the Topman, Miss Selfridge and HIIT brands from failed retailer Arcadia Group.
Retail
What’s Next for Nordstrom
In The Week Ahead, we examine Nordstrom’s plans for 2021, the final rounds of bidding for Topshop and other Arcadia brands, plus a new documentary about the artificial world of influencers.
What’s Next for Nordstrom
In The Week Ahead, we examine Nordstrom’s plans for 2021, the final rounds of bidding for Topshop and other Arcadia brands, plus a new documentary about the artificial world of influencers.
Retail
H&M’s Helena Helmersson on Making Retail More Resilient
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
H&M’s Helena Helmersson on Making Retail More Resilient
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
Retail
Report: Top Audit Firms Decline to Work With Boohoo
Four accounting companies, including Deloitte and Grant Thornton, have already ruled out working with Boohoo, the Telegraph reported on Tuesday.
Report: Top Audit Firms Decline to Work With Boohoo
Four accounting companies, including Deloitte and Grant Thornton, have already ruled out working with Boohoo, the Telegraph reported on Tuesday.
Retail
Amazon Kicks Off the Holiday Shopping Season Early
This week, everyone will be talking about Amazon Prime Day, efforts to revive US economic stimulus negotiations and Uniqlo owner Fast Retailing's expansion plans. Get your BoF Professional Cheat Sheet.
Amazon Kicks Off the Holiday Shopping Season Early
This week, everyone will be talking about Amazon Prime Day, efforts to revive US economic stimulus negotiations and Uniqlo owner Fast Retailing's expansion plans. Get your BoF Professional Cheat Sheet.
Luxury
Op-Ed | How Luxury Became Fast Fashion
Step by step, luxury brands have adopted the fast fashion model, with Covid-19 set to complete the shift, argues Liroy Choufan.
Op-Ed | How Luxury Became Fast Fashion
Step by step, luxury brands have adopted the fast fashion model, with Covid-19 set to complete the shift, argues Liroy Choufan.
Retail
Boohoo Shoppers Undeterred by Scandal
The ultra-fast fashion company boosted its outlook as its core customer base appeared unfazed by reports of poor working conditions in its supply chain.
Boohoo Shoppers Undeterred by Scandal
The ultra-fast fashion company boosted its outlook as its core customer base appeared unfazed by reports of poor working conditions in its supply chain.
Retail
Boohoo Review Finds ‘Unacceptable Issues’ in Leicester Supply Chain
The review found that some workers had not always been properly compensated for their work and that many were not fully aware of their rights.
Boohoo Review Finds ‘Unacceptable Issues’ in Leicester Supply Chain
The review found that some workers had not always been properly compensated for their work and that many were not fully aware of their rights.
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.