Uniqlo owner Fast Retailing has hit a milestone in its global ambitions with its value as defined by its share price reaching ¥10.87trn (€85bn) this week, more than any other company in the global clothing sector.
The revenue of top fashion multinationals plummeted by 21.8% in the first nine months of 2020 because of the pandemic, according to a study published on Wednesday by Italian investment bank Mediobanca.
After 32 years, Antonio Abril is leaving the Spanish textile giant to focus on academia, replaced by Oscar García Maceiras, a state attorney from A Coruña and deputy secretary of the board at Banco Santander.
H&M's sales were running only 3% down this autumn until the latest wave of lockdowns forced its stores to close again. But its figures for Q4 and the full year show it's managing fairly well in a tough year.
Ikea's shopping malls business said its expansion plans remained on track with visitors quickly returning to its premises after the lifting of coronavirus-related lockdowns which had forced stores to close.