First the bad news. Clothing sales for June were “poor for the time of year”, according to the latest Confederation of British Industry (CBI) survey. What’s more, growth in online sales slowed sharply this month.
JD Sports Fashion continues to be extremely active on the acquisition front. Last week it reportedly snapped up a controlling stake in Manchester-based Missy Empire, and this week it has announced a big move in Spain.
The brand has announced that it has closed on a $14.5 million Series A funding round, financing which will allow the company to invest in its manufacturing capabilities, as well as in further material innovations.
Shares of Nike Inc surged over 15% to a record high on Friday after the sportswear giant forecast full-year sales of more than $50 billion, riding on pent-up demand for sneakers and athletic gear from U.S.
Dior Men debuted its first full collab collection with a musician on Friday, a linkup with rapper, music producer and style setter Travis Scott - a collection where the Lone Star State met rap gods and the Wild West.
The Spanish fashion group, owner of Cortefiel and Springfield, posted losses for €109.5 million in the last financial year, and said its results will be on par with 2019 “at the latest” by the first half of 2022.
Fans of PrettyLittleThing can soon actually ‘vacation the brand’. Parent Boohoo Group is launching a PrettyLittleThing luxury hotel in Cornwall to take advantage of 2021’s high demand for UK staycations.
Burberry is continuing to tick a number of firsts off its bucket list and the latest is a partnership with Team Qhubeka NextHash. It makes it the first luxury fashion brand to link with a Tour de France team.
The LA-based digital-first fashion marketplace has announced that it has closed a $195 million Series F funding round, more than doubling its valuation as the company sets its sights on further international expansion.
FedEx on Thursday reported a slightly higher than expected increase in quarterly profit and revenue, but shares shed 4.1% as investors fretted over how the company will grow after the business-boosting pandemic eases.