Vinted, an online marketplace for second-hand clothes, has surfed a sustainable fashion wave to become Lithuania's first technology startup to reach "unicorn" status with a valuation of over $1 billion.
The latest player to enter the rapidly developing fashion rental market is Swedish fast fashion giant H&M, with a deft high street collection of archival evening wear, in a concept store that opens this Friday.
Clothes should be cherished, re-worn and even passed on to the next generation, Anna Wintour, the editor of Vogue magazine said, calling for more sustainability in the fashion world and less of a throwaway culture.
Popular items such as apparel and accessories are likely to face a 15% tariff in a new round scheduled for Dec. 15, meaning prices could lift on these items and more ahead of the all-important holiday season.
A year and a half after taking charge of the ready-to-wear label owned by Italian fashion group OTB, CEO Stefano Biondo has left. He will be replaced by Barbara Calò, Marni’s global omni-channel retail director.
H&M Group said this week that its youth-focused Weekday retail brand has become the first fashion label globally to create a garment with a new ultra-sustainable fabric from IFC, a textile start-up it has invested in.
Victoria Beckham’s fashion business remains loss-making and the latest accounts, for 2018, show that its losses widened last year as sales fell. But it also talked of profitable Q4 EBITDA for the current year.
Despite swinging to a loss and posting declining sales, Florida-based womenswear retailer Chico’s FAS reported better than expected Q3 results on Wednesday, as solid growth at its Soma intimates brand continues.
With holiday shoppers already making purchases and an increasing number of consumers expected to shop on Thanksgiving, analysts are predicting that this year’s Black Friday won’t have quite the same clout.