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Moschino, Ferretti parent sees lower sales, swings to net loss

Moschino, Ferretti parent sees lower sales, swings to net loss

Aeffe SpA reported 31.4 per cent sales decline to €118.9 million in its first half ended on June 30, 2020 compared to sales of €173.3 million in the same period last year.
Luxury
Richemont to ask shareholders permission for conditional share capital increase

Richemont to ask shareholders permission for conditional share capital increase

Richemont, the owner of Cartier and Chloé, gave details of its proposed shareholders' loyalty scheme on Friday, where it will give warrants to investors which later can be converted into newly created stock.
Luxury
Montblanc links with YNAP for new 'seamless' mobile-first webstore

Montblanc links with YNAP for new 'seamless' mobile-first webstore

Richemont’s Montblanc brand and the luxury giant’s Yoox Net-A-Porter e-tail specialist have announced a new partnership. Montblanc will now use YNAP “to power the next iteration of its successful e-commerce platform”.
Luxury
Fashion struggled in July says latest BDO sales tracker

Fashion struggled in July says latest BDO sales tracker

July was a disappointing month for UK physical shops and fashion really struggled with online sales unable to make up for spending that wasn't happening on the high street.
Fashion
Trump issues bans on China's TikTok, WeChat, stoking tension with Beijing

Trump issues bans on China's TikTok, WeChat, stoking tension with Beijing

U.S. President Donald Trump on Thursday unveiled sweeping bans on U.S. transactions with China's ByteDance, owner of video-sharing app TikTok, and Tencent, operator of messenger app WeChat.
Fashion
Hammerson to raise £825m, reboot lease terms with retailers, sell VIA stake

Hammerson to raise £825m, reboot lease terms with retailers, sell VIA stake

UK shopping centre operator Hammerson announced moves to raise a combined £825m on Thursday and said it would reboot the terms of its leases with retailers as it faced a slump in rent collections and footfall.
Fashion
Capri beats sales estimates on e-tail surge, China strength

Capri beats sales estimates on e-tail surge, China strength

Capri Holdings Ltd reported a smaller-than-expected quarterly loss on Wednesday, helped by a recovery in demand for its Versace and Jimmy Choo brands in China and a surge in online shopping.
Fashion
Fine art and face masks: London's Victoria and Albert Museum reopens

Fine art and face masks: London's Victoria and Albert Museum reopens

​Five thousand years of art and design history will be joined by some more modern items when London’s Victoria and Albert (V&A) museum reopens on Thursday - hand sanitiser dispensers and protective screens.
Fashion
​Footballer who tackled poverty stars in British Vogue's Black 'hope' issue

​Footballer who tackled poverty stars in British Vogue's Black 'hope' issue

Marcus Rashford, whose campaigning pushed the government to change policy on free school meals, has won further recognition for his poverty-fighting efforts - on the cover of British Vogue celebrating black leaders.
Fashion
Lord & Taylor in bankruptcy filing

Lord & Taylor in bankruptcy filing

​Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.
Fashion
Hammerson mulls sale of VIA Outlets stake to raise cash

Hammerson mulls sale of VIA Outlets stake to raise cash

UK malls giant Hammerson on Monday confirmed press peculation that it’s in “advanced discussions on the terms of a possible disposal of its 50% interest in VIA Outlets to its joint venture partner APG”.
Fashion
L'Oréal sales fall is worse than expected, travel retail suffers

L'Oréal sales fall is worse than expected, travel retail suffers

Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
Luxury
Burberry opens first luxury social store in China, tech and exclusives are key

Burberry opens first luxury social store in China, tech and exclusives are key

Burberry on Friday announced the opening of its long-awaited social retail store in China’s technology hub Shenzhen, “blending the physical and social worlds in a digitally immersive retail experience”.
Luxury
PayPal profit jumps 86% on pandemic-driven online spending shift

PayPal profit jumps 86% on pandemic-driven online spending shift

PayPal reported an 86% jump in Q2 profit on Wednesday as the e-commerce payments processor benefited from the shift to online spending amid the coronavirus pandemic. Net income increased to $1.53 billion.
Fashion
Westfield owner's net rental income hit by pandemic

Westfield owner's net rental income hit by pandemic

Europe's largest property firm Unibail-Rodamco-Westfield posted a 14.2% like-for-like decline in H1 net rental income on Wednesday after malls were forced to close during Covid-19 lockdowns, but shoppers are returning.
Fashion
Prada sees recovery in Asia after tough H1, no excess inventory issues

Prada sees recovery in Asia after tough H1, no excess inventory issues

Italian fashion group Prada said on Wednesday sales had recovered sharply in Asia since June after the fallout from the coronavirus pandemic triggered a 40% decline for comparable revenues in the first half of the year.
Luxury