EssilorLuxottica extended its partnership with Armani in a sign of continuity on Wednesday as it held its first capital markets day since the death of chairman and main shareholder Leonardo Del Vecchio in June.
EssilorLuxottica Chief Financial Officer Stefano Grassi confirmed financial targets for 2026 on Wednesday, adding that additional growth could come from products outside of China, smart glasses and optical e-commerce.
Following its investments in Byredo and Loto del Sur, the Spanish group has acquired a majority stake in the beauty and wellness firm founded in 2002 with the aim of strengthening its foothold in the Indian market.
Inditex reported its first-half results on Wednesday and once again showed why it’s such a hugely successful fashion retail giant. It saw a “very strong operating performance” with sales and profits at “historic highs”.
Rent the Runway announced on Monday record sales for the second quarter ending July 31, coinciding with the news it plans to reduce its workforce by nearly a quarter, in bid to cut annual operating expenses.
Amazon is buying Belgian company Cloostermans, a textile machinery manufacturer that now specializes in mechatronic automation tools. Cloosterman has been supplying the American retail giant since 2019.
Ever-expanding retail group Frasers is on the search for fresh investment with its new chief executive Michael Murray saying he wants to build the business’s previously frayed relations with the City of London.
Discount retailer TJX UK has announced its results for the 52 weeks up to the end of January and is clearly bouncing back from the pandemic, despite the latest accounts including some periods of Covid store closures.
Vince Holdings announced on Monday net sales for the second quarter increased by 13%, on the back of double-digit growth in its namesake brand, Vince. The group also said it will shutter its Rebecca Taylor brand.
U.S. sales growth is expected to slow this holiday season as consumers facing decades-high inflation cut back on discretionary spending, according to the Mastercard SpendingPulse report released on Tuesday.