By 2025, 70% of luxury consumers will be aged below 40, forcing labels to revise their approach and values, broadening them to include more culture-based elements, according to the latest study by Bain & Co.
Hugo Boss has become the latest major fashion name to link its financing to green goals. The German giant — in which Frasers Group owns a large stake — has secured a syndicated loan with a sustainability component.
Paris jeweler Fred welcomed back a key family member of its heritage on Wednesday, the dramatic brilliantly yellow Soleil d’Or diamond, whose 100-plus carats make it one of the rarest stones on the planet.
The sports equipment retailer reported net sales of $2.75 billion in Q3, a figure that represented an increase of 13.9% compared to $2.41 billion in the prior-year period and glided past analysts’ expectations.
Shares of Nordstrom Inc and Gap Inc slumped more than 20% on Wednesday as warnings of product shortages during the crucial holiday season raised fears that the retailers were losing out to better-prepared competitors.
The San Francisco-based lifestyle retailer announced a net loss of $152 million, or $0.40 per diluted share, for the third quarter, on Tuesday, as the company struggled with ongoing global supply chain issues.
Nordstrom Inc said labor costs pinched its quarterly profit and warned of product shortages at its off-price stores heading into the holiday season, sending its shares down 23% in extended trading on Tuesday.