By Reuters API Published Feb 16, 2024 European retail industry body Eurocommerce called on European Union institutions and member states to resolve the Red Sea crisis that has disrupted trade, saying in a letter to Belgium’s foreign minister that it has already had “massive impacts” on businesses. Shipping companies have rerouted container vessels away from … Read more
By Reuters API Published Jan 31, 2024 H&M’s CEO unexpectedly quit on Wednesday and company veteran Daniel Ervér took over with immediate effect, as the Swedish fashion retailer struggles to boost sales and profitability. Shares in the Swedish fashion retailer dropped 8% as outgoing CEO Helena Helmersson said she had decided to leave the company after … Read more
By Reuters API Published Jan 30, 2024 Swedish fashion retailer H&M is under pressure to prove to investors it can turn its fortunes around and fend off fierce competition from fast-fashion rivals such as Zara, whose sales are rising, and China-founded Shein, set to go public this year. H&M H&M, which sold more than $22 … Read more
By Bloomberg Published Jan 23, 2024 Fast fashion billionaire Amancio Ortega’s family office has acquired a Canadian warehouse leased by Amazon.com Inc, in the latest expansion of his property portfolio. Ortega – Reuters Ortega’s Pontegadea Inversiones SL paid about €250 million ($272 million) for the facility in Burnaby, southeast of Vancouver, according to a company … Read more
By Reuters API Published Jan 12, 2024 Spanish billionaire Amancio Ortega has bought a logistics centre in the Netherlands currently used by rival British fashion retailer Primark for 110 million euros ($121 million), his family office Pontegadea said. Ortega the funder of Inditex – Reuters Ortega, the founder of fashion group Inditex, which owns Zara, … Read more
By Bloomberg Published Jan 1, 2024 Until the rise of online retail, you might have been forgiven for thinking that all apparel was shipped in burlap sacks. Those wanting their garment spending to be sustainable these days can take comfort in reusable wooden hangers, paper shopping bags, and recycled fibers. The only glimpse of plastic in many … Read more
By Europa Press Translated by Roberta HERRERA Published Dec 18, 2023 Óscar García Maceiras, the CEO of Inditex, has purchased shares of the company founded by Amancio Ortega, specifically acquiring 2,667 shares for a sum of 103,479.6 euros, amidst a remarkable surge in the stock market. Óscar García Maceiras, CEO of Inditex – Inditex According … Read more
By Reuters API Published Dec 16, 2023 During Paris Fashion Week, pop icon Cher, Swedish singer Robyn and South Korean DJ Peggy Gou performed at Silencio nightclub to a crowd of actors and models including Jared Leto, Elle Fanning and Irina Shayk. Reuters All were wearing shimmering outfits from H&M’s latest collaboration, a collection with … Read more
H&M Group issued an update on Friday and while it covered both the fourth quarter and full year, it was (as is usual for the Swedish fashion retail giant) very Scandi-minimalist. H&M So, what did we learn? Net sales in Q4 — the period from 1 September to 30 November — were just-about-flat compared to … Read more
By Bloomberg Published Dec 14, 2023 European clothing retailers Zara, Primark and Mango are making further inroads into the US interior via mall openings as they target areas with faster population growth than on the coasts.States such as Utah, Colorado and Tennessee have become a “very relevant” demographic for Zara, according to Spanish owner Inditex … Read more
