Chancellor Rishi Sunak has unveiled what has been touted as the most important budget statement in decades. And there's plenty in the latest announcement that directly impacts the fashion and retail sectors.
In a sign that this summer could potentially be a strong one for seasonal fashion, members-only shopping app Wholee Prime said on Wednesday that sales of summer fashion items have surged in the past week.
Prime real estate will always be in demand, but at what price? Fears the pandemic might have a lasting effect on physical retail and the prices businesses are willing to pay for property look to be overstated, for now.
Inditex staff in Spain say they are being forced out as the owner of fast-fashion brand Zara rolls out its plan to shut up to 1,200 stores worldwide, despite a company agreement with Spanish unions to project jobs.
If anybody needed confirmation of how important fashion resale has become, it came on Monday with the announcement by France’s Vestiaire Collective of a new €178m financing round backed by Kering, among others.
Nun 1970, founded by Egyptian businessman Hany Beshr and distributed by Livia Gregoretti’s showroom, has global plans for its Florence-designed line made in 100% traceable Mongolian cashmere by Italian producer Cariaggi.