Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt US apparel retailer The Limited with a bid of $26.8M, people familiar with the matter said on Tuesday.
Swedish fashion retailer H&M said on Tuesday it planned to have elected committees and proper pay structures for workers in its main supply factories across the world by 2018 in a bid to curb labour exploitation.
Milan Fashion Week opens Wednesday, Feb. 22 through Feb. 27, during which some of the biggest names in Italian fashion — Armani, Gucci, Versace, Fendi, Pucci and Prada — will present their fall/winter collections.
There has been a significant rise in the number of consumers opting for sustainable clothing, according to Canadian designer Morgan Mallett, who is known for charting new territory through various innovative processes.
Wal-Mart Stores on Tuesday reported higher-than-expected U.S. sales, helped by more customer visits to stores and accelerating online activity, and the world's largest retailer's shares rose more than 3 percent.