Bang has been responsible for innovation at the H&M Foundation since 2014 and he is also the driving force behind the Global Change Award. As he says, the key to innovation is to feel confident and establish among players.
In the second quarter, private spending on clothing and footwear grew to 62% year-on-year and 20% compared to the same period in 2019, before the pandemic.
Rising costs and changing from ship to plane to avoid port collapse have led the industry to expect three more months of falling margins. Adidas estimates a € 500 million impact in the second half of the year.
LVMH, Richemont and Kering ended 2020 decreasing by 1.3 points in their average gross margin. They also lost €13,000 million in sales in a year.
The e-commerce company, founded by Jeff Bezos, plans to open several physical shops which will work as department stores in the United States to help expand the reach of sales in apparel, home goods, electronics and other areas.
The e-commerce company, founded by Jeff Bezzos, plans to open several physical shops which will work as department stores in the United States to help expand the reach of sales in apparel, home goods, electronics and other areas.
The employees of the manufacturing hubs in Asia are earning by 25% less than a year ago and many of them had to get into debt to survive.
During the Covid-19 year, the group reacted by accelerating the importance of proximity on its production, with 49% of total suppliers. The group stopped working with 65 suppliers in China.
Organic cotton has become a synonym for sustainability, but several scandals with fake certifications in India and forced labor in China question this raw material.
The company’s net sales decreased by 21 percent in the quarter ended 28 February. The Swedish group has also issued a statement after the boycott suffered in China.
The fashion retailer had a turnover of 6.6 billion euros online last year. High-street rivals H&M and Gap generated online less than €6 billion each last year.
H&M, Zalando and C&A lead fashion sales in Germany, while Marks & Spencer, Next and Primark take the main spot in the UK. France is dominated by sport players and Italy by pure players.
Average rents along Manhattan’s 16 retail corriders have being declining for eleven consecutive quarters. In the UK, retail store vacancies have reached its six-year high.
When consumers work from home, they reallocate spend similarly to consumers in retirement, and apparel is the category that experiences the deepest decline.
