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Gap Inc. losses shrink in Q1 as sales continue to slide
Major cost cuts, including the elimination of some 2,300 jobs in recent months, are helping stabilize the bottom line.
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https://www.gettyimages.com/detail/news-photo/model-bag-detail-walks-the-runway-during-the-chanel-news-photo/1471870476?adppopup=true via Getty Images
Chanel sales rise to a record $17B
The privately owned luxury house plans to increase its workforce and expand its London headquarters in the coming year.
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Garments, textiles among most at-risk products of being manufactured with forced labor: report
In Walk Free’s 2023 Global Slavery Index, project leaders analyzed which items may have forced labor hidden in their supply chains.
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In massive executive shuffle, Nike names new Jordan president
Craig Williams will take on a new role as president of geographies and marketplace, while Sarah Mensah takes on Jordan. The retailer also named a new head of North America.
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Highest earners are holding back their apparel spend: report
After years of outperformance, consumers earning $150,000 or more per year are spending less on fashion and more on experiences, data from Earnest shows.
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Chanel buys partial stake of Italian yarn maker Cariaggi
The French luxury fashion house teamed up with Brunello Cucinelli in a joint agreement, with both now owning 24.5% of the natural fibers supplier.
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Ludovic de Saint Sernin departs Ann Demeulemeester: reports
De Saint Sernin designed only one collection for the luxury brand.
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Textile recycling, reuse missing from FTC’s Green Guides, group says
Companies and advocates in the textile and fashion industries are urging the Federal Trade Commission to add the issue to its ongoing workshops.
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H&M CEO Helena Helmersson named Fashion Pact co-chair
The group, led by 15 fashion CEOs, includes representatives of brands, retailers and suppliers committed to reducing the industry’s carbon footprint.
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EU Council backs plans to strengthen fashion’s sustainability requirements
The framework would ban destroying unsold textiles, footwear and apparel, as well as establish a digital product passport to increase transparency.
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The intention gap: when buying and beliefs don’t match
Consumers say they want more sustainable fashion, but they don’t always put their money where their morals lie.
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Lululemon inks multiyear partnership to recycle nylon, polyester
The deal with Samsara Eco marks the activewear maker’s first minority investment in a recycling company.
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Adidas to start selling Yeezy products at the end of May
It’s the first time the products have been up for sale since Adidas broke ties with Kanye West, also known as Ye, in October.
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Higg rebrands as Worldly
The company says it wants to avoid confusion with its licensed Higg Index software.
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Nuuly partners with plus-size brand Eloquii
The new partnership between the Urban Outfitters-owned clothing rental service and the plus-size DTC brand is exclusive, and it debuts with 25 styles.
Updated May 19, 2023 -
Canada Goose revenue jumps in Q4 as it focuses on DTC
The brand is leaning into its direct-to-consumer channel, which saw sales increase 22.6% in the period, as it plans to open 16 stores in fiscal 2024.
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Shein raises $2B but valuation drops: WSJ
Despite the new funding, the fast fashion giant’s value has reportedly decreased to $66 billion.
Updated May 18, 2023 -
Burberry sales rebound despite weak US showing
The fourth quarter boost was aided by a comeback in China, the luxury company’s biggest market.
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EBay acquires tech company Certilogo to boost secondhand fashion authentication
Certilogo uses digital tech to give consumers access to information about products and confirm their authenticity.
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Deep Dive
What’s behind Walmart’s DTC selloffs?
The retail giant has been ditching its e-commerce acquisitions for years to refocus on its core. But it could also mean a fresh start for Eloquii and Bonobos.
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Bally’s creative director is out
Rhuigi Villaseñor is leaving just over a year after joining the Swiss luxury fashion house.
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B. Riley acquires equity interest in Scotch & Soda through Bluestar
The arrangement solidifies financial ties between the financial group and the brand management company, and adds to a growing stable of fashion labels under their control.
Updated May 17, 2023 -
Nike faces lawsuit over greenwashing claims
A Missouri plaintiff said that 90% of the products Nike advertises as using recycled materials don’t, and that some of the recycled materials themselves are environmentally harmful.
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Nonplussed: Fashion’s surprisingly big problem with gender and size
Inclusive clothing ranges regularly leave men and nonbinary people out of the conversation.
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Shein invests $70M toward upgrading its supply chain
The company hopes its five-year financial commitment will improve conditions at its third-party manufacturing suppliers.