The British department stores group has appointed Paul Babbs, who will join the team next spring. The goal is to strengthen the clothing division, which has suffered inventory issues during the last year.
The sportswear company grew 23% in the third period, fueled by direct to consumer sales, that increased 30% year-on-year.
The British sportswear company has reached a revenue of 369.1 million pounds (485.5 million dollars) in the first six months.
The group got a gross margin of 60.8% from August to October, three tenths more than in the same period of 2018, and evolves in profitability better than its rival H&M.
Pascal Baltussen will assume his position on January 1 and will report directly to Coty’s CEO Pierre Laubies. Last November the cosmetics company appointed Richard Jones, former Kering as global chief supply officer.
Paul Price leaves the company, that ended its fiscal year 2018 with losses of 138 million pounds (170.2 million dollars) after avoiding bankruptcy. It is not clear whether the company has begun the search for a replacement.
Analysts believe that the problem of the Chinese company’s debt is related to the acquisitions made by the company in the last ten years, which have meant paying out 40,000 million yuan (5.6 billion dollars).
The American company has opened its fourth store in the United Kingdom in one of the largest shopping malls in Europe, Westfield London.
Zara’s parent company reached a revenue of 1.2 billion euros (1.3 million dollars) in the third quarter.
Lange is the chief executive officer of Mentis, the software company she founded in 2013. The executive is also member of the board of Orange, Pernod Ricard, amongst others.
The company plans to expand its selling space between 5% and 6% and estimates that the contribution of the new space to the growth of the group will be around 3%.
Zara was the chain of the group with more openings in the period with 16 new stores. Stradivarius opened 12 and Bershka and Oysho opened ten each.
Zara was the chain with most openings in the third quarter, followed by Stradivarius, with 12 new stores and Bershka and Oysho with ten new stores each.
The Spanish company is in conversations with the Maltese group Hudson to open stores in the main cities of the country.
The luxury company, owned by French luxury holding LVMH, has opened a store at 76 Green Street in Soho, New York.
All economic news of the key fashion companies worldwide.
