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

COPENHAGEN – Swedish fashion brand House of Dagmar has won retailer Zalando’s inaugural Sustainability Award, for which it will receive an undisclosed financial prize and the opportunity to partner to develop a new apparel collection.The winner of the accolade was announced at this week’s digital Copenhagen Fashion Week (CFW), with representatives of Zalando, the Global Fashion Agenda and CFW forging a panel that made the decision.Kate Heiny, director of sustainability at Zalando, said: “We are

In its continuous efforts to support its expansion plans, British sportswear retailer JD Sports is seeking to raise £464.2 million through the placing of ordinary shares.The placing shares, reportedly, constitute about 6 per cent of its share capital.Notably, the placing price represented around 2.5 per cent discount to the mid-market closing price of 815p on Wednesday (3 February).The fashion retailer seems to be on an acquisition spree, with the latest being its decision to acquire American sp

The Christian Dior group, a France-based luxury goods company, has recorded 17 per cent revenue decrease to €44.7 billion in its complete fiscal 2020, that ended on December 31, compared to the revenue of €53.6 billion in the previous fiscal. Group’s net profit for the twelve-month period was down to €1.9 billion (FY19: €2.9 billion).Pic: ShutterstockOperating profit for the year fell to €7.9 billion (€11.2 billion), while profit from recurring operations were €8.3 billion (€11.4 billion). Gross

Capri Holdings Limited, a US-based global fashion luxury group, has reported 17.1 per cent revenue decline to $1.3 billion in its third quarter (Q3) FY21 that ended on December 26, 2020, compared to the revenue of $1.5 billion in same quarter previous fiscal. Company’s net income for reported quarter dropped to $178 million (Q3 FY20: $209 million).Pic: Shutterstock“Looking back over the last three quarters since the onset of Covid-19, we are encouraged by the performance of all our luxury houses

Regardless of the fact that the fashion industry has faced a colossal fiscal loss throughout the pandemic outbreak, technical textiles, or non-aesthetic textiles, have evinced their true potential to the health sector.As the pandemic continues to challenge our comfort zones in the way we work, it has created new challenges for the fashion industry which have eventually led to some interesting reforms. Technology in textiles has shown its true potential to the world, and is shaping new trends in

Jigsaw, a well-known British clothing retailer, saw its sales fall by £31 million – all thanks to pandemic and its aftermath that ruined several retailers over the course of last year.Image Courtesy: retailgazette.co.ukAs per the accounts filed at Companies House, the fashion retailer stated that 60 per cent of its sales in 2020 were generated through its e-commerce platform.And that was expected because of the retailer’s continual focus on digital-first strategy.The fact that most of its stores