Fashion conglomerate Shandong Ruyi has brushed aside a sale of textile maker Lycra proposed by Lycra's creditors and is instead looking to publicly float the business, two people with direct knowledge told Reuters.
Madrid-based fashion tradeshow Momad has postponed its next edition to February 2021, with Ifema and the organising committee aiming to hold the event in a “strengthened economic environment”.
German consumer goods group Henkel reported a big drop in sales of its beauty care business on Thursday on the closure of hair salons due to the coronavirus.
Unifi, a leading innovator in recycled and synthetic yarns, posted a sales decline to $606.5m in fiscal 2020, which ended on June 28, compared to $708.8m last year. It saw a net loss of $57.2m.
German sports giant Adidas said on Thursday it expects to bounce back to profitability in the third quarter after it plunged to a big loss in the second quarter when most of its stores were closed due to lockdowns.
UK shopping centre operator Hammerson announced moves to raise a combined £825m on Thursday and said it would reboot the terms of its leases with retailers as it faced a slump in rent collections and footfall.
Lifestyle fashion brand Joules reported its preliminary annual results on Thursday and despite the numbers including its toughest trading period ever that resulted in a pre-tax loss, seemed upbeat.
Odd Concepts, an AI-based fashion tech company, has launched an AI style discovery platform, StyleCrush, to introduce a new method of online fashion consumption to Singapore.
The value of the world textile trade decreased by 2.4 per cent year-on-year to $305 billion, while apparel trade dropped 0.4 per cent.
The latest bad news for the UK on jobs and store closures comes from M&Co and DW Sports with the former closing 47 stores and the latter its entire chain of 75 shops.
Retail sales volumes in the eurozone rebounded in June to levels seen in February before lockdowns, official estimates showed on Wednesday, completing a recovery that began in May after record drops in March and April.
Capri Holdings Ltd reported a smaller-than-expected quarterly loss on Wednesday, helped by a recovery in demand for its Versace and Jimmy Choo brands in China and a surge in online shopping.
Fashion giant Inditex has pledged to maintain workers' rights throughout its supply chains and the stability of payments to suppliers, as the garment industry wrestled with a plunge in orders during the COVID-19 crisis.
US-based fashion retailer Express Inc said on Tuesday that it has seen a “second consecutive month of positive e-commerce demand coupled with the apparent stabilisation in store sales and traffic”.
A fresh wave of COVID-19 may worsen the situation of Vietnam’s textile and footwear industries, still reeling from the impact of the first.
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