Parisian label Sonia Rykiel has filed for receivership and is looking for a new owner, FashionNetwork.com learned on Tuesday. The announcement comes after several years of declining sales at the label.
Following its acquisition of Invista's Lycra division, Chinese group Shandong Ruyi is reportedly planning to launch a $500 million IPO for the business, now operating as The Lycra Company, within the next three years.
As athleticwear and beauty continue to be strong trends among Gen-Z consumers, Piper Jaffray has released its semi-annual “Taking Stock With Teens” report, revealing strong progress for Vans, Lululemon and Ulta Beauty.
Debenhams has secured a temporary cash injection to tide it over while talks go on and it also has a new own-brand sourcing deal with Li & Fung that should help it respond faster to trends with better quality product.