Spanish fashion brands coincide in pointing out that the shareholder crisis that the department store chain is going through doen’t have a direct impact on commercial negotiations. However, they admit that pressure on profit margins has increased in recent months.
The US retailer, also owner of Calvin Klein, posted a net income of 179.4 million dollars (154,5 million euros) in the first three months of fiscal year. PVH’s turnover reached 2,314.6 million dollars.
The US company has registered its seventh consecutive quarter of revenue growth, primarily due to the good evolution experienced in European and Asian markets.
In the midst of an internal war between shareholders, the Spanish group is now considering a move that would subject it to the short-term demands of investors while it faces a major long-term strategic transformation.
The British company, owned since 2017 by chemicals company Ineos, has appointed Sean Leahnhardt-Moore as new creative director, replacing former head Delphine Ninous.
The ecommerce group has introduced Meraki, a label specialized in men’s and women’s basic apparel. The collection is available starting today through the company’s online platform.
The Spanish department store chain holds today a key board reunion, with a last-minute topic introduced on the agenda: the approval of a plan to go public, a move that would strengthen Dimas Gimeno’s position as El Corte Inglés’ chairman.
The British ecommerce group has begun interviewing potential candidates to replace Brian McBride, who has served as chairman for the past six years.
Concurrently with the Spanish group efforts to turn to a digital-driven business model, Inditex’s young fashion retail chains have introduced changes in their commercial policy.
The Japanese group has named Isabelle Gex, whose career spans over 25 years in the world of beauty and perfume, as its new president of global fragances. She will assume the role on June 11.
The French giant has inked a deal with the Italian fashion house to assume the worldwide fine fragances and luxury beauty business of the brand from Janurary 1, 2019.
The French cosmetics giant, which earlier this month bought South Korean brand Nanda, has taken over a hair colour brand launched in 2016 by David and Alexis Thurston in the United States.
The fourth largest fashion retailer in the world closed 39 stores during the period and opened 62 new retail locations, mostly Old Navy and Banana Republic.
The German investment company is conducting negotiations with IBA Capital to get rid of the majority of commercial premises in the Spanish market that it acquired from Inditex in early 2018.
The company, owner of lingerie brand Victoria’s Secret, posted a 7% revenues jump in the same period, compared to the 0.4% upsurge registered in fiscal 2017.
All economic news of the key fashion companies worldwide.
