After just over two-and-a-half years at the helm Alexander Wang and Balenciaga might soon part ways. The young designer who took over in December 2012 following Nicolas Ghesquire’s departure has triumphed as creative director of the Spanish label. However speculation is building...
American Apparel to Cut Jobs, Close Stores
American Apparel Inc announced on Monday that it will close underperforming stores and laying off staff as part of a $30 million cost-cutting strategy. In a company statement CEO Paula Schneider, who took the helm in January said, “Today’s announcements are necessary steps to help...
Donna Karan Steps Down From DKNY
Iconic fashion designer Donna Karan is stepping down as chief designer of of LVMH-owned Donna Karan International, the company announced Tuesday. After helming the brand which she founded 31 years ago, Karan 66, will be stepping down from her eponymous label to focus on her Urban Zen company...
Business Brief: American Apparel Director Resigns, ‘...
Net-a-Porter Announces Record Sales The Fashion e-tail giant reported an profit of ($2.9 million) after tax and ($17.1 million) before tax in the 12 months ending March 2015.[Financial Times] H&m’s Growth Slowed This Spring (But It Beat Forecasts) The Swedish fashion retailer...
Gap To Close Stores,Cut Jobs In Hopes For A Turnaround
All American brand Gap Inc, announced plans to shut nearly a fifth of its namesake stores (175 of its 675 Gap stores) in the US, as the company struggles with a slump in sales. In addition it would also be shutting a “limited number” of its European stores. The retailer also...
Prada’s Profits Continue To Slide
Italian luxury goods company Prada reported reported a steep fall in its first-quarter profit . In the three months to April 30, Net income fell 44% to $66.2 million with Asia Pacific region, especially Hong Kong and Macao, not showing any sign of improvement in the first months of 2015, the...
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