Koovs continues to be lossmaking but its losses are reducing as margins improve and its recent funding round has left it confident of future growth in a market where only 1% of sales currently happen online.
Lingerie specialist Wacoal and sportswear group Descente Ltd have partnered up for a business alliance that will extend to design, manufacturing, distribution, in the areas of ‘beauty, health and comfort’.
Kurt Geiger will take over Aldo’s concessions in the UK and Ireland, including existing concessions within department stores and online, as part of a new five-year partnership between the two footwear brands.
Yeezy is strengthening its organization. The structure behind the Kanye West label, in collaboration with Adidas, has recruited a managing director, a chief financial officer and other key executives in just one year.
Footasylum issued a trading update on Monday and it was keenly watched as it was hoped the former stock market darling would have regained some of its momentum. But a profit warning saw panic selling of the shares.
Steinhoff reported a slight increase in nine-month sales on Friday as its managers remained pre-occupied with cleaning up after an accounting fraud that nearly tipped the South African retailer into bankruptcy.
Consumer confidence rose in August but was negative overall with consumers cautious but not in panic mode. They're saving a lot of spare cash and are ready to spend on big items, but fashion is unlikely to be a priority.