Italian fashion group Prada sees sales rising further in the second half of the year after revenues beat market expectations in the first six months, extending a recovery from the worst of the Covid-19 crisis.
Consumers want more transparency from brands around eco practices with nearly a third of them thinking not enough is being done, while almost a quarter think there’s too much ‘greenwashing’ simply to improve sales.
Unibail Rodamco Westfield has reported H1 results and continued to see “significant Covid-19-related disruption” in the first six months. But it also highlighted its ongoing “resilience in tough operating conditions”.
The American luxury group has announced a series of new initiatives, including the launch of the Tapestry Foundation, the expansion of its corporate responsibility agenda, and the implementation of a $15 minimum wage.
Australia, a country known for punching above its weight in sport, literature, cinema, media, wine and the pursuit of happiness, has tended to underperform when it comes to fashion. One major exception is Zimmermann.
The group announced a 178.6% increase in Q2 revenue on Wednesday, growth driven by the retail channel, which was, nonetheless, still not able to bring the company’s sales in line with pre-pandemic levels.
The fashion group, which has owned 70% of its flagship brand since 1999, has purchased the remaining 30% from Italy's Siny, taking complete control of the business. The value of the transaction was 66.5 million euros.
If there's one sector that doesn't seem to be struggling, it's the market for counterfeit goods with Rolex, Louis Vuitton and Gucci featuring among the brands whose counterfeits are the most popular online.
UK retail sales continued to grow at a rate well above the long-run average in the year to July, but clothing and footwear stores are yet to see demand recover to usual levels, the CBI’s latest survey has showed.