H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid COVID-19 lockdowns and it has received backlash against companies that refuse to use Xinjiang cotton.
After leaving his position as CEO of French event sales site Showroomprivé in December, Thierry Petit has sold his 17.61% stake in the company. Eric Sitruk, soon to own a 7.5% stake, is set to become a board member.
One reason Paris remains the world’s greatest fashion capital: the city is so photogenic. Underlined by a spectacular Ami sunset show at the Sacré Coeur and an Amiri catwalk display in the charming Jardin des Plantes.
UK consumer confidence fell to a record low in June as shoppers grappled with a stark new economic reality, figures from Gfk’s long-running series of reports show. Its confidence Index dipped one point to -41.
German online fashion e-tailer Zalando has been forced to revise its guidance for the year. It cited a further deterioration in macroeconomic conditions as the EU consumer confidence index fell further in June.
The first monthly retail sales report for June is out and it doesn’t look good. The Confederation of British Industry has released its regular report and said retail sales volumes fell slightly in the year to June.
London-based Threadology has secured a seven-figure loan from HSBC UK, as the formalwear supplier and retailer scales up operations as demand grows with weddings and formal events returning after restrictions ended.
With experiences becoming ever more important in post-pandemic retail, this move must be music to the ears of one major mall. Ministry of Sound is to take over the former House of Fraser store at Westfield London.
Nike is making a full exit from Russia three months after suspending its operations there, the U.S. sportswear maker told Reuters on Thursday, as the pace of Western companies leaving the country accelerates.