Latest News Briefs – Page 80
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News briefs
German consumer confidence improves
In January 2023, consumer confidence in Germany is expected to rise to -37.8 from -40.1 in December 2022 and -41.9 in November 2022, as measures taken by the federal government to mitigate skyrocketing energy costs are apparently having an effect, according to data released by market research group GfK. ...
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News briefs
3M to stop producing PFAS by 2025
3M will end the manufacturing of perfluoroalkyl and polyfluoroalkyl substances (PFAS) and work to discontinue the use of PFAS across its product portfolio by the end of 2025. “This is a moment that demands the kind of innovation 3M is known for,” said Mike Roman, 3M’s chairman and chief ...
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News briefs
Shein looks at becoming an online marketplace
Shein, one of the world’s largest online fashion retailers, is looking at becoming an online marketplace, according to The Wall Street Journal citing a memo to investors. The move would likely mean Shein becomes a direct competitor for existing e-commerce sites such as Alibaba, AliExpress and Amazon Marketplace, expanding beyond ...
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News briefs
German businesses enter holiday season with a ‘sense of hope’
The business climate index in Germany rose to 88.6 in December from 86.4 the previous month, according to data released by the think tank Ifo. The data was better than economists’ expectations for a reading of 87.4. The index on current conditions rose to 94.4 in December from 93.2 ...
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News briefs
Saysh expands delivery service to Canada
Saysh, a U.S. community-focused lifestyle brand for women founded in the summer of 2021 by Olympian Allyson Felix and her brother Wes Felix, has expanded its delivery service to all Canadian provinces. Saysh, which can be found in select wholesale doors across North America, noted that the launch of its ...
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News briefs
China starts authorizing Covid infected people to work
Local Chinese authorities are allowing people to return to work even if they have Covid-19 symptoms. Previously, a single case of Covid-19 could lead to the lockdown of several thousand people in the country. In December, the government changed its zero-Covid policy and eased its harsh restriction measures. The measures ...
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News briefs
High energy costs change Germans’ buying habits
The German Retail Association (HDE) reports that the high price increases for energy in Germany have significantly changed the shopping behavior of consumers. For example, the latest HDE “Consumer Monitor Prices” for 2022/23 shows that eight out of ten consumers are affected by rising energy costs, and a third are ...
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News briefs
Vans and Timberland launch a joint capsule collection
VF’s brands Vans and Timberland have teamed up to design a capsule collection together for the first time. Celebrating the 30th anniversary of Vans’ iconic Half Cab, the two brands offer a brand new style based on Vans’ iconic model first released in 1992 and Timberland’s Euro Hiker boot, created ...
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News briefs
Asos appoints a new board member
Asos has appointed Wei Gao as non-executive director of its board. Wei was previously chief operating officer at Hopin, an online events platform, and brings over 16 years of e-commerce and data experience in senior roles at Amazon. Wei will join the board on Feb. 1, 2023 and will ...
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News briefs
H&M FY sales up 10%
H&M said that in the fourth quarter, that ran from Sept. 1 to Nov. 30, net sales reached SEK 62.451 billion (€6.045bn), up by 10 percent from a year ago. In local currencies, they were unchanged. Excluding Russia, Belarus and Ukraine, the increase was 11 percent on a reported basis ...
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News briefs
Inditex's 9-mth sales up 19%
Inditex, the Spanish group that owns the brands Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, said that in the nine months ended Oct. 31 its sales reached €23.1 billion, up by a reported 19 percent from a year ago and up by 20 percent at constant currencies. Store and ...
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News briefs
Havaianas releases app for custom flip-flops
According to Lorena, Havaianas is celebrating its 60th anniversary with the release of an app that will enable customers to customize the flip-flops they purchase through it. Limited to the Brazilian brands’ two most traditional models, the Top and the Slim, the service covers prints and color combinations for straps ...
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News briefs
The Prada brand appoints a new CEO
Gianfranco D’Attis was appointed chief executive of the Prada brand, effective Jan. 2. D’Attis is president for the Americas at Christian Dior. Prada previously said that Andrea Guerra would be the new chief executive of the group. The appointment will be made at board meeting scheduled on Jan. 26.
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News briefs
Asos reportedly in talks with lenders about hiring restructuring expert
Asos and its lenders are reportedly discussing whether to hire a restructuring expert following the departure of Katy Mecklenburgh, the interim chief financial officer of the British online fashion retailer. A number of turnaround professionals held informal talks about a role, which would sit below executive level, but no decision ...
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News briefsPlan to take Tod’s private is dropped
DeVa Finance, the investment vehicle of Diego Della Valle, the chairman, CEO and controlling shareholder of Tod’s, announced it was abandoning plans to merge with Tod’s in order to delist the Italian luxury goods group from the Milan stock exchange. Uncertainty about the fate of Tod’s’ shares had continued since ...
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News briefs
Only 5% of companies understand their impact on nature, new study reveals
The World Benchmarking Alliance (WBA) has just published its first-ever “Nature Benchmark,” a study that measures how companies are reducing their negative impacts on nature and contributing to the protection and restoration of ecosystems. The study found that only 5 percent of the companies reviewed to understand their impact on ...
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News briefs
Zalando reappoints Schröder as COO
Zalando’s supervisory board has reappointed David Schröder as chief operating officer. According to the company, he will continue to expand Zalando’s European multi-channel logistics network and develop new growth opportunities, such as helping partners increase their direct-to-consumer business across various channels. Chief business and product officer Jim Freeman is leaving ...
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News briefs
New management at Havaianas’ European hub
Havaianas has made several changes to the executive suite at its European hub in Madrid, according to Modaes. The Alpargatas-owned brand has promoted Vanessa Sosa, a 12-year brand veteran formerly with Tommy Hilfiger, from head of Spain to sales director for Europe, the Middle East and India. To succeed Sosa ...
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News briefs
DX opens a warehouse in Plymouth
DX, a British provider of delivery solutions, including parcel freight and logistics services, announced the opening of a new depot in Plymouth, England, the fourth of eight depots currently expected to be opened by summer 2023. The new depot will be predominantly dedicated to the parcels activity, supporting growth of ...
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News briefs
Farfetch sees 2025 GMV at $10.5bn
Farfetch expects its gross merchandise value (GMV) to rise to $10.50 billion from an estimated $4.05 billion in 2022 and a forecast $4.90 billion in 2023. The U.K. based fashion online retailer anticipates adjusted Ebitda margin to rise to 10 percent in 2025 from a negative 3-5 percent this year ...
