Fashion Startup Founder Pleads Guilty in $300 Million Fraud
Christine Hunsicker admitted she falsified financial statements to promote CaaStle Inc. as a valuable, growing business when in reality it was struggling.
fast-fashion
Sustainability
Brands Say They Want to Keep Workers Safe. Not All Are Willing to Pay for It.
Walmart and other large fashion retailers tout their progress on worker safety to consumers. But suppliers say they’re often on their own when it comes to improving factory conditions.
Brands Say They Want to Keep Workers Safe. Not All Are Willing to Pay for It.
Walmart and other large fashion retailers tout their progress on worker safety to consumers. But suppliers say they’re often on their own when it comes to improving factory conditions.
Retail
From West to East: Recentering the Fashion World
This week, Uniqlo’s Japanese owner Fast Retailing became the world’s most valuable fashion company, a reflection of just how much the pandemic is recentering the global fashion sector from the United States and Europe to Asia.
From West to East: Recentering the Fashion World
This week, Uniqlo’s Japanese owner Fast Retailing became the world’s most valuable fashion company, a reflection of just how much the pandemic is recentering the global fashion sector from the United States and Europe to Asia.
Retail
Why Asos Needs Topshop
Asos just spent over $400 million to acquire the legacy high street brand, boosting the online retailer’s place in the race to dominate the surging e-commerce market.
Why Asos Needs Topshop
Asos just spent over $400 million to acquire the legacy high street brand, boosting the online retailer’s place in the race to dominate the surging e-commerce market.
Retail
The Mysterious $15 Billion Brand Taking on Boohoo and Fashion Nova
Shein did not manage to acquire Topshop, but it could now be looking for other struggling retailers to cement its position as China’s leading exporter of ultra-fast fashion with global ambitions.
The Mysterious $15 Billion Brand Taking on Boohoo and Fashion Nova
Shein did not manage to acquire Topshop, but it could now be looking for other struggling retailers to cement its position as China’s leading exporter of ultra-fast fashion with global ambitions.
Retail
Asos Buys Topshop, Sister Brands in £295 Million Deal
The e-commerce company also acquired the Topman, Miss Selfridge and HIIT brands from failed retailer Arcadia Group.
Asos Buys Topshop, Sister Brands in £295 Million Deal
The e-commerce company also acquired the Topman, Miss Selfridge and HIIT brands from failed retailer Arcadia Group.
Retail
What’s Next for Nordstrom
In The Week Ahead, we examine Nordstrom’s plans for 2021, the final rounds of bidding for Topshop and other Arcadia brands, plus a new documentary about the artificial world of influencers.
What’s Next for Nordstrom
In The Week Ahead, we examine Nordstrom’s plans for 2021, the final rounds of bidding for Topshop and other Arcadia brands, plus a new documentary about the artificial world of influencers.
Retail
H&M’s Helena Helmersson on Making Retail More Resilient
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
H&M’s Helena Helmersson on Making Retail More Resilient
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
Retail
Report: Top Audit Firms Decline to Work With Boohoo
Four accounting companies, including Deloitte and Grant Thornton, have already ruled out working with Boohoo, the Telegraph reported on Tuesday.
Report: Top Audit Firms Decline to Work With Boohoo
Four accounting companies, including Deloitte and Grant Thornton, have already ruled out working with Boohoo, the Telegraph reported on Tuesday.
Retail
Amazon Kicks Off the Holiday Shopping Season Early
This week, everyone will be talking about Amazon Prime Day, efforts to revive US economic stimulus negotiations and Uniqlo owner Fast Retailing's expansion plans. Get your BoF Professional Cheat Sheet.
Amazon Kicks Off the Holiday Shopping Season Early
This week, everyone will be talking about Amazon Prime Day, efforts to revive US economic stimulus negotiations and Uniqlo owner Fast Retailing's expansion plans. Get your BoF Professional Cheat Sheet.
Luxury
Op-Ed | How Luxury Became Fast Fashion
Step by step, luxury brands have adopted the fast fashion model, with Covid-19 set to complete the shift, argues Liroy Choufan.
Op-Ed | How Luxury Became Fast Fashion
Step by step, luxury brands have adopted the fast fashion model, with Covid-19 set to complete the shift, argues Liroy Choufan.
Retail
Boohoo Shoppers Undeterred by Scandal
The ultra-fast fashion company boosted its outlook as its core customer base appeared unfazed by reports of poor working conditions in its supply chain.
Boohoo Shoppers Undeterred by Scandal
The ultra-fast fashion company boosted its outlook as its core customer base appeared unfazed by reports of poor working conditions in its supply chain.
Retail
Boohoo Review Finds ‘Unacceptable Issues’ in Leicester Supply Chain
The review found that some workers had not always been properly compensated for their work and that many were not fully aware of their rights.
Boohoo Review Finds ‘Unacceptable Issues’ in Leicester Supply Chain
The review found that some workers had not always been properly compensated for their work and that many were not fully aware of their rights.
The News in Brief
Victoria’s Secret Forecasts Its Best Year Since L Brands Split
The underwear company is anticipating net sales of at least $6.85 billion in the current fiscal year, exceeding analyst estimates and marking the highest revenue since its split from L Brands Inc in 2021.
Uniqlo Aims to Grow Tenfold in India With Summer-Centric Clothes
The Japanese brand is accelerating its expansion in India to capture a greater share of the rapidly growing apparel market and affluent consumer base.
Oasis Pressures Kao in Latest Japan Activist Investor Push
Activist fund Oasis Management Co. is calling on the Japanese personal care company to convene an extraordinary general meeting, seeking a probe into its supply-chain risk management and internal control.
American Eagle Forecasts Sales Growth Above Estimates on Demand From Wealthy Shoppers
The retailer surpassed annual sales forecasts but expects a $60 million drag from import tariffs in the first half of 2026.
Missoni Family Exits Namesake Brand
The transaction gives FSI, a Milan-based private equity fund, a controlling share in the Italian luxury house, as more founder-owned brands turn to investors to fund growth and weather a tough global market.
Ross Stores Forecasts Annual Sales Above Estimates on Resilient Demand for Discounted Apparel
Spend growth at off-price chains is among the strongest in retail, with gains across all income segments.
Abercrombie & Fitch Forecasts Muted Annual Sales Amid Tariff Uncertainty
The retailer said it was accounting for the 15 percent tariff announced by US president Donald Trump after the Supreme Court struck down most of his earlier tariffs.