Latest Articles in Business

Stella McCartney-backed Radiant Matters secures 1.2 million pound investment

Innovative materials start-up Radiant Matters has snapped up a 1.2 million pound investment from Sustainable Ventures alongside other impact-driven and deep tech investors as it looks to fuel its ongoing growth. Based in London, the company develops shimmer and colour effects from plant-based cellulose that can be applied across a number of...

Business

JCA London Fashion Academy announces winners of Last Yarn scholarship contest

Jimmy Choo’s JCA London Fashion Academy has named the winners of its Sustainability Capsule Fabric Scholarship contest held in collaboration with Last Yarn. The sustainability advocacy organisation selected three designers from JCA’s Postgraduate Fashion Entrepreneurship in Design and Brand Innovation course whose submissions “expressed their...

Business

Saks expands ambassador programme with new celebrity members

Luxury e-commerce platform Saks has announced the expansion of its brand ambassador programme, Saks Social Club, with the addition of new celebrity members, including pop culture figure Paris Hilton, supermodel Chanel Iman and basketball player Shareef O’Neal. The initiative, which already comprises influential men and women from varying...

Business

Poshmark introduces machine learning feature to better promote products

Resale marketplace Poshmark has put a new machine learning feature into place that hopes to accelerate sales for sellers while driving increased engagement from shoppers. Dubbed ‘Promoted Closet’, which is already available in the US, the tool utilises machine learning to match shoppers’ search terms with promoted listings in a bid to enhance...

Business

Classic Football Shirts secures 38.5 million dollar investment to support expansion

Manchester-based Classic Football Shirts has announced that it was the recipient of a 38.5 million dollar investment by multi-stage investment firm The Charnin Group (TCG) as it looks to carry out imminent global expansion plans. The deal puts a strategic focus on the North American market, one of the brand’s fastest-growing regions that...

Business

Walmart profits rise on strong sales from wealthier shoppers

Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales. Profits more than tripled to 5.1 billion USD for the quarter ending April 30 on a six percent rise in revenues to 161.5 billion USD. Earnings in the 2023 period were...

Business

Asos confirms India entry with Reliance Retail partnership

Following heightened media speculation, British e-tailer Asos has now confirmed that it will be entering the Indian market through a new long-term partnership with the country’s Reliance Retail. With the deal, Reliance Retail will serve as the exclusive retail partner for Asos across all online and offline channels in India. It has been tasked...

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Under Armour announces restructuring and layoffs

Sportswear company Under Armour, Inc. has announced a restructuring strategy alongside the release of its annual results, for which net income almost halved and sales fell by several percent. The company's revenue came to 5.7 billion dollars, at a 3 percent year-on-year decline. The decline was largely due to worse results from the company's...

BusinessFeatured

Richemont reports slow Q4 sales growth, appoints Nicolas Bos as CEO

For the full financial year, Richemont sales increased by 3 percent at actual exchange rates and 8 percent at constant exchange rates to 20.6 billion euros, driven by the jewellery maisons, while operating profit came in at 4.8 billion euros, a 13 percent improvement at constant exchange rates. Fourth quarter sales were down by 1 percent at...

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Canada Goose Q4 revenues grow 22 percent

Canada Goose revenue increased 22 percent or 23 percent on a constant currency basis to 358 million Canadian dollars for the fourth quarter. Gross profit grew 22 percent to 233 million Canadian dollars and gross margin for the quarter was 65.1 percent. “Our fourth quarter results came in ahead of guidance, reflecting the power of our iconic...

Business

MySize revenues accelerate in the first quarter

Israeli startup MySize revenues for the first quarter increased 314 percent to 2.98 million dollars driven by an increase in Orgad sales. MySize develops measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications, including the apparel, e-commerce, DIY, shipping, and parcel delivery industries....

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Watches of Switzerland Q4 sales rise, "cautiously optimistic" about FY25

In the fourth quarter, revenue of 380 million pounds at Watches of Switzerland increased 4 percent at constant currency and 3 percent at reported rates, while luxury watches revenue rose 5 percent at constant currency and 3 percent at reported rates, with particularly strong performance in the US. Full year group revenue of 1,538 million pounds,...