Corporate/Finance: Page 20
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Courtesy of Canada Goose
Canada Goose cuts corporate workforce by 17%, shakes up executive roles
As part of a DTC focus, the brand said about a year ago that it would double its footprint within five years, but some analysts anticipate that slowing.
By Daphne Howland • March 27, 2024 -
Retrieved from Vince on March 27, 2024
Vince CEO steps down
Jack Schwefel’s resignation is effective immediately, and former CFO David Stefko will hold the position until a successor is named.
By Laurel Deppen • March 27, 2024 -
Courtesy of OTB Group
OTB Group acquires majority stake in luxury footwear manufacturer
Italy-based Calzaturificio Stephen has been a strategic supplier for the company for more than 20 years and makes Maison Margiela’s popular Tabi shoes.
By Lara Ewen • March 26, 2024 -
Courtesy of Temu
How Temu sales stack up to e-commerce competitors: report
Data from Earnest Analytics found that the fast fashion company has nearly double the retention rate of companies such as Walmart and Target.
By Laurel Deppen • March 25, 2024 -
Daphne Howland/Fashion Dive
Has Lululemon peaked?
Growth in North America has slowed, but analysts aren’t worried, given the brand’s innovation, past nimbleness and potential abroad.
By Daphne Howland • March 25, 2024 -
Dario Cantatore via Getty Images
Nike hires Tim Hamilton as vice president of men’s apparel design
The award-winning menswear designer was formerly at The North Face, where he helped orchestrate collaborations with brands including Gucci and Supreme.
By Lara Ewen • March 25, 2024 -
Marc Piasecki via Getty Images
Longtime LVMH executive to leave board, management roles
Antonio “Toni” Belloni will step down from his current positions in April but will remain with the company as president of LVMH Italy and take on “strategic missions for Bernard Arnault.”
By Lara Ewen • March 22, 2024 -
Daphne Howland/Fashion Dive
Nike refocuses on innovation as Q3 revenues fall flat
CEO John Donahoe said the sportswear brand “is not performing at our potential” and needs to lean back into wholesale and product innovation.
By Cara Salpini • March 22, 2024 -
Courtesy of Gildan
Gildan Activewear considers sale
The apparel manufacturer is weighing potential bids from several buyers as the company faces a shareholder proxy fight.
By Laurel Deppen • March 21, 2024 -
Victor Boyko via Getty Images
Gucci revenue projected to plunge 20% in Q1
Declining sales in Asia drove the brand’s poor performance, according to parent company Kering.
By Lara Ewen • March 21, 2024 -
Francois Durand via Getty Images
Dries Van Noten will step down from design role at namesake brand
The menswear collection for spring-summer 2025 will be his last, though the designer intends to “stay involved in the House that I treasure so much.”
By Lara Ewen • March 20, 2024 -
Courtesy of Kontoor Brands
Kontoor names COO amid transformation initiative
Tom Waldron will be responsible for overseeing both the Wrangler and Lee brands, as well as the company’s supply chain operations.
By Laurel Deppen • March 20, 2024 -
Retrieved from Renewcell on March 19, 2024
Renewcell extends deadline for purchase offers
Potential buyers have until March 28 to submit bids following the textile waste recycling company’s bankruptcy filing last month.
By Lara Ewen • March 19, 2024 -
Justin Sullivan/Getty Images via Getty Images
Nordstrom revives namesake brand
The new line, which features footwear and accessories, is part of a revamp following lagging Q4 sales at full-line stores.
By Laurel Deppen • March 19, 2024 -
Outdoor Voices shutters all stores
The activewear brand, once a DTC darling, told staff last week it would close stores as it shifts to an online-only model.
By Caroline Jansen • March 19, 2024 -
Cara Salpini/Fashion Dive
Under Armour puts founder Kevin Plank back in charge as CEO Stephanie Linnartz exits
Come April 1, the athletics brand founder will take the helm once more. Linnartz, who is stepping down, has been CEO for barely a year.
By Cara Salpini • Updated March 14, 2024 -
Christopher Furlong via Getty Images
Workers’ rights and environmental legislation endorsed by European Union
The Corporate Sustainability Due Diligence Directive would require companies to take responsibility for detecting and remedying problems in their supply chains.
By Lauren Schenkman • March 15, 2024 -
The image by Blufin S.p.A. is licensed under CC BY-SA 4.0
Walter Chiappoini leaves Blumarine
The creative director exits the brand after presenting his first collection in February during Milan Fashion Week.
By Lara Ewen • March 14, 2024 -
Courtesy of Infinited Fiber
Textile recycling company Infinited Fiber closes $43.8M funding round
The news comes after Renewcell, its competitor in the recycled materials space, filed for bankruptcy due to lack of funding.
By Laurel Deppen • March 14, 2024 -
Caroline Jansen/Fashion Dive
Allbirds taps new CEO, plans store closures
COO Joe Vernachio takes over from co-founder Joey Zwillinger on Friday as the DTC brand reported a 15% sales drop in 2023.
By Cara Salpini • March 14, 2024 -
Courtesy of Gildan
Browning West files legal complaint against Gildan Activewear
The move comes amid a proxy battle that began with the December 2023 ousting of former CEO Glenn Chamandy.
By Laurel Deppen • March 13, 2024 -
Tristan Fewings via Getty Images
Tod’s revenue rises almost 12% amid privatization plan
The company, which saw sales increase across all brands and regions in 2023, is preparing to move forward with an L Catterton-backed delisting.
By Lara Ewen • March 13, 2024 -
The image by Philafrenzy is licensed under CC BY-SA 4.0
Matches enters administration nearly three months after being purchased
The Frasers Group said that restructuring the luxury e-commerce business would require “too much change.”
By Laurel Deppen • March 12, 2024 -
Cara Salpini/Fashion Dive
American Eagle ‘refocused’ logistics arm amid third-party business woes
The retailer faced $98.3 million in impairment and restructuring charges from Quiet Platforms in Q4 as it adjusted to reduced e-commerce fulfillment demand.
By Max Garland • March 12, 2024 -
Courtesy of Gap Inc.
Gap, Old Navy make progress on long road to recovery
New Gap Inc. CEO Richard Dickson touted market share gains at the company’s biggest brands, but analysts say they have further to go.
By Daphne Howland • March 11, 2024
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