Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
Coinciding with the presentation of the group’s Q1 results, Inditex has announced the “voluntary resignation” of its deputy CEO Ramón Reñón, who bids farewell to the Spanish group after almost 30 years.
Retailers and unions negotiating over a legally binding workers' safety accord in Bangladesh due to expire on Monday reached a tentative deal to extend it by three months, unions involved in discussions said.
Inditex, owner of brands including Zara, Bershka and Pull & Bear, will close all its stores in Venezuela in coming weeks as a deal between the retailer and its local partner Phoenix World Trade has come under review.
Zara is diving headfirst into beauty with the launch of a complete cosmetics line conceived by British makeup artist Diane Kendal. The retailer's debut beauty offering will be available in store and online from 12 May.
Garment makers in nine countries spanning Asia, the Middle East and North Africa have banded together to demand better contract terms from global clothing retailers, according to a draft document seen by Reuters.
A group of investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China's Xinjiang region, highlighting the challenges for brands trying to maintain business ties.
China’s top ride-hailing app dropped Swedish fashion retailer H&M from its listings as Chinese celebrities stopped endorsing foreign labels in a growing uproar over Western accusations of forced labour in Xinjiang.
The Spanish apparel group’s president insisted the business model is “solid” and said he is confident about the group’s recovery. If all Inditex stores will re-open in April, 2021 sales will be on par with 2019.