Moncler, the world-renowned luxury fashion group based in Milan (Italy), witnessed a fall of 11 per cent to €1.4 billion in its 2020/2021 financial year.Image Courtesy: esquire.comThe fall has been attributed to frequent store closures, travel restrictions and tighter lockdown rules at different times of the year.The brand’s revenue in Europe, the Middle East and Africa – excluding Italy – saw a drop of 18 per cent for the year that ended 31 December 2020. In Italy, the revenue slumped by a worr

Arket, the lifestyle brand, is set to launch its maiden flagship store in Seoul, Korea on 26 February (Friday).Image Courtesy: rli.uk.comOwned by fast fashion giant H&M, Arket’s new store is located inside The Hyundai Seoul – a new store in the centre of Yeouido.Arket’s store launch will not only mark its debut in South Korea, but will also see the brand’s much-awaited foray into Asia.Come autumn 2021, Arket will also be opening a new store in Beijing, which will be its first physical store

Mango, a Spanish fashion group, has launched new store concept that reflects spirit and freshness of the brand. This new concept is influenced by Mediterranean culture and style, in which warm tones and neutral colour bases predominate and are combined with traditional, artisanal, sustainable and natural materials, such as ceramic, esparto grass and leather.Pic: MangoSustainability, energy efficiency and architectural integration within the environment are key objectives for the brand. For this

In the aftermath of COVID-19, the local clothing businesses seized hold of the major festival seasons to stand erect all again. In the last year, local brands and retailers missed the two biggest annual events as the pandemic was at its peak that time. So they have been gearing themselves up recently.Figure 1: In the aftermath of COVID-19, the local clothing businesses seized hold of the major festival seasons to stand erect all again.Clothing businesses saw their last big days in February 2020,

STOCKHOLM – Global retail giant H&M has today issued a €500 million, sustainability-linked bond, which it says provides incentives for the company to meet a series of environmental targets by 2025.Image: © Leonard Zhukovsky | ShutterstockThe sustainability-linked bond, which was 7.6 times oversubscribed, is actually new on the market and, unlike green bonds, are directly linked to a company meeting defined sustainability targets.For H&M these targets are related to use of recycled materi

Kering SA, a French global luxury group, posted 17.5 per cent revenue decline to €13,100.2 million in its full fiscal 2020 that ended on December 31, 2020, compared to the revenue of €15,883.5 million in the previous fiscal. However, group’s online sales continued to grow with 67.5 per cent rise during FY20 accounting to 13 per cent of total retail sales.Pic: Shutterstock“In a year of disruption, Kering demonstrated remarkable resilience and agility. We achieved a solid top-line recovery in the

Capri Holdings has announced the formation of The Capri Holdings Foundation for the Advancement of Diversity in Fashion. The company has pledged $20 million to further the foundation’s mission of supporting diversity, inclusion and equality throughout the fashion industry. It is a fashion luxury group of iconic brands that are leaders in the industry.Pic: Business WireCapri Holdings has long believed in the power of an inclusive workplace and is committed to furthering workforce diversity. The f

French Connection, the UK-based fashion retailer, has been lately attracting interest from several firms.The retail stalwart is now considering sale as it gets approached by two investment firms.Spotlight Brands, together with London-based investment services firm Gordon Brothers, eye the fashion retailer. And they are not alone in the race!Retail investment platform Go Global Retail in association with a global investment firm HMJ International Services have also approached French Connection re

H&M has joined forces with Danone AQUA for the bottle2fashion project, which transforms plastic bottle waste from the shores of Indonesia into recycled polyester. This season bottle2fashion will collect and recycle around 3.5 million PET bottles. For the H&M kidswear collection, the recycled polyester has been blended with organic cotton and recycled cotton to create cosy, everyday pieces in fashion-forward colours and silhouettes. Available from end of December, the kidswear collection

LONDON – New research suggests that the coronavirus pandemic and the subsequent lockdowns enforced in the UK catalysed a spike in clothes swapping in 2020, particularly amongst consumers aged 16-30.Conducted by Censuswide on behalf of the North London Waste Authority (NLWA), a survey gauged the interest of 1,500 people of varying ages in second-hand fashion.The findings highlighted that young consumers engaged most with pre-owned fashion, with one in two 16 to 30-year olds purchasing more of the