Founder Roksanda Ilinčić, who will stay on as creative director, had filed a notice of intent to appoint an administrator before finding a white knight in TBG.
The brand isn’t the only one struggling in a cooling luxury market, but the weak numbers increase pressure on CEO Jonathan Akeroyd to deliver Burberry’s long-awaited turnaround.
In its first-quarter results, the Brazilian beauty company’s losses widened and revenue dropped, but grew margins as it continues a turnaround plan that has seen it shed Aesop and The Body Shop.
Two of the brand's previous grantees — The Established and Ceylon — which each received a $50,000 infusion from Glossier just years ago, have closed their businesses due to a rough financial climate. With fresh injections of capital, the beauty label is hoping it can help others avoid the same fate.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Textile-to-textile recycling technologies could be a climate game changer for fashion’s environmental footprint. But like renewable energy, they need state support for market efforts to scale, argues Nicole Rycroft.
The miner set out its plans for a potential break-up via a demerger or sale of some of its assets, as it fights off a $43 billion takeover bid from BHP Group.
The company, whose stock soared to a record during the pandemic, has languished as faster inflation and shoppers returning to stores pummelled sales in 2022 and 2023.
This week’s round-up of global markets fashion business news also features Burberry’s trademark dispute in China, pan-African e-tailer Jumia and South Korea’s investigation into Coupang.
The purpose of Mind Nose Matter is to identify key trends shaping consumer culture today and translate them for clients in the fine fragrance category.
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