MILAN — Marcelo Burlon is stepping down from his role as creative director of the County of Milan brand he founded in 2012. The brand’s parent New Guards Group said in a statement that the County of Milan team will design the collections going forward. The unexpected development comes as the fate of New Guards … Read more
ASOS has reported its results for the 26 weeks to 3 March and as expected, they’re not great. But the company did say it’s made strong progress on speed and profit initiatives under its Back To Fashion strategy. ASOS Looking at the headline figures, they were weak on both an adjusted and statutory basis, with … Read more
Richemont’s renewed attempts to divest Yoox Net-A-Porter have attracted the attention of luxury rival Mytheresa, a report has claimed. The business is believed to be among potential bidders to buy loss-making e-tail giant YNAP. Net-A-Porter The Financial Times made the claim, citing “people with knowledge of the sales process”. It also said that private equity … Read more
Shein could be on the verge of listing its shares in London rather than New York with reports suggesting that a move could happen as early as next week. Shein The talk is of a listing valuing it at around £71 billion, which would put it almost in the top five by market value of … Read more
Much of the news surrounding Farfetch of late may have been connected to its acquisition by Coupang, but it’s important to remember that key product initiatives have continued at the same time. Erdem The London-based company has collaborated with one of the UK’s most prominent designer names, Erdem, to offer customers access to an exclusive … Read more
Zalando had a big announcement on Wednesday, the fashion e-tail giant saying it has evolved its strategy to cover a “larger share of [the] fashion and lifestyle e-commerce market” with a “pan-European ecosystem for customers and partners”. Zalando We’re told the ecosystem “around Business-to-Consumer (B2C) and Business-to-Business (B2B) growth vectors will further deepen customer and partner … Read more
Matches has laid off almost half its staff — 273 people — as it trades through administration while a buyer is sought by insolvency specialist Teneo. The company had employed 533 people in its three London stores and at its HQ from where it sells to consumers in 170 countries. Matches Benji Dymant, joint administrator, … Read more
In 2017 it was sold by its founder for a price rumoured to be £800 million. A few months ago Frasers Group bought it for just £52 million. And now luxury e-tailer Matches is set for an administration filing that could come as early as Friday. Photo: Sandra Halliday On Thursday, Frasers said that since … Read more
Coupang, the South Korean e-commerce giant, reported its annual and Q4 results this week with sales and profits both rising. But importantly, it also made some key comments about its thinking around the recent Farfetch buy. Farfetch – DR Speaking on a conference call after the results release, founder and CEO Bom Kim said: “Luxury … Read more
In news that might not come as too much of a surprise, it’s being reported that Farfetch founder and CEO José Neves is among more than one member of the leadership team stepping down in the wake of the firm’s takeover by South Korea’s Coupang. Farfetch The move hasn’t been officially announced but is being … Read more
