US discount footwear retailer Payless Inc is working with debt-restructuring attorneys to deal with its approximately $665 million (£546 million) in debt as foot traffic at its stores declines, according to sources.
Messe Düsseldorf announced that falling attendance has prompted it to give up the GDS shoe trade show. Igedo will acquire the show after the February edition and move it to Düsseldorf's Areal Böhler in late August.
In attempt to prevent the sale of counterfeit merchandise on eBay, particularly luxury goods, eBay will be implementing a new product authentication program especially geared toward verifying high-ticket items.
The weakness of the UK’s currency boosted retail sales to tourists in December as they spent £725m, a 22% increase, on a year ago. And a lot of that was spent on fashion and luxury goods, payments firm Worldpay said.
The investment of Italian businessman Andrea Bonomi in Tod's will not change the luxury goods maker's industrial plan or its shareholding structure, the group Chairman and Chief Executive Diego Della Valle said on Thursday.
He has invested in Sergio Rossi and now Italian businessman Andrea Bonomi has taken a stake in Tod's to support long-term growth at the luxury goods group, a source close to the matter said on Wednesday.
Outgoing Balenciaga boss Isabelle Guichot, who was expected to remain with parent Kering, has reached an agreement to leave the French luxury and sports group, sources close to the company told Reuters.
After PETA released videos documenting abusive treatment of crocodiles last month by suppliers to luxury labels, India's government announced a ban on the import of reptile skins as well as mink, fox and chinchilla furs.