Corporate/Finance: Page 23
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More executive departures at Gucci
EVP Piero Braga is leaving to serve as CEO of Slowear, just a week after Robert Triefus departed to lead Stone Island.
By Lara Ewen • May 11, 2023 -
ThredUp lists on alternative stock exchange
The resale company will commit to a vision for sustainable and inclusive business practices on the Long-Term Stock Exchange.
By Nate Delesline III • May 9, 2023 -
Trendline
Top 5 stories from Fashion Dive
Fashion faced its share of shakeups in the first half of 2024, but few industries are more adept at reinvention or more suited to change.
By Fashion Dive staff -
Bidayat to relaunch 1970s Italian fashion brand Walter Albini
The Swiss investment firm founded by Rachid Mohamed Rachid purchased the label’s archives and intellectual property for an undisclosed amount.
By Lara Ewen • May 9, 2023 -
Fashion Group International adds gender-neutral categories for Rising Star Awards
In addition to handing out the honors last night, FGI launched its first mentorship program.
By Howard Ruben • May 9, 2023 -
Under Armour CEO: ‘Growth is, without a question, our highest priority’
New chief Stephanie Linnartz identified a slew of areas that need work and rolled out a strategy that hinges on athleisure.
By Cara Salpini • May 9, 2023 -
Former Gucci exec Robert Triefus named CEO of Stone Island
Triefus will lead Stone Island beginning June 1 as the brand works to broaden its international reach.
By Laurel Deppen • May 5, 2023 -
Adidas first quarter revenues drop 1%, beating expectations
Yeezy loss continues to impact business, particularly in North America, but new collaborations such as Fear of God could offset losses in the second half of 2023.
By Lara Ewen • May 5, 2023 -
Federal Reserve hikes main rate while ‘highly attentive to inflation risks’
For the fashion industry, this hike could continue to put pressure on companies to drive inventory productivity.
By Jim Tyson • May 4, 2023 -
HanesBrands works to reduce inventory but activewear still a concern
The first quarter of 2023 was the third consecutive quarter of improvements for Hanes’ inventory, but it remains up 8% year over year.
By Laurel Deppen • May 4, 2023 -
Guess taps Hugo Boss alum for CFO seat
The appointment of Markus Neubrand, a former CFO of Hugo Boss Americas, follows a “rigorous” search process, Guess CEO Carlos Alberini said.
By Alexei Alexis • May 3, 2023 -
Shareholder files lawsuit against Allbirds
The complaint filed in April alleges the DTC brand’s registration statements in 2021 were false or misleading as it relates to non-core product offerings.
By Dani James • May 3, 2023 -
Lawmakers ask SEC to halt potential Shein IPO bid
A group of 24 lawmakers want the Chinese fast fashion giant to verify that it doesn’t use forced labor.
By Laurel Deppen • May 2, 2023 -
Nordstrom cuts tech workforce
The layoffs come weeks after the company named a new chief technology and information officer.
By Kaarin Vembar • May 2, 2023 -
Francesca’s snaps up basics brand Richer Poorer
Two years out of bankruptcy and under private equity ownership, the mall-based retailer said it’s on the lookout for more acquisitions.
By Daphne Howland • May 2, 2023 -
Estée Lauder hires exec team as it completes acquisition of Tom Ford
The deal valued the total enterprise at $2.8 billion, and ELC paid approximately $2.25 billion at closing.
By Lara Ewen • May 1, 2023 -
Adidas sued in class-action lawsuit involving Yeezy partnership
Investors are seeking to recover damages from the value of Adidas shares after reports that the German company’s top leadership knew of risks involving Kanye West before it was made public.
By Laurel Deppen • May 1, 2023 -
Chanel names Stephane Blanchard president of US region
Blanchard comes from Chanel Korea, and he’s previously held roles helping the luxury brand’s Russian and German operations.
By Natalie Schwartz • May 1, 2023 -
Skechers logs record $2B in sales in first quarter
Executives attribute the growth to customer satisfaction and successful ad campaigns, including a Super Bowl commercial featuring Martha Stewart and Snoop Dogg.
By Lara Ewen • April 28, 2023 -
NakedCashmere taps former Victoria’s Secret exec for CEO
Patti Cazzato is stepping into the role as the company gears up for expansion after being acquired by Naga Brands and BlueSentinel last year.
By Laurel Deppen • April 28, 2023 -
Crocs raises full-year guidance as HeyDude doubles revenue
The company is investing in the smaller brand's growth by expanding its distribution capabilities and wholesale partners.
By Nate Delesline III • April 28, 2023 -
Mugler names Adrian Corsin managing director
Corsin takes over from Pascal Conte-Jodra as the luxury house pursues buzzy collaborations with the likes of H&M and Wolford.
By Natalie Schwartz • April 28, 2023 -
Gap lays off 1,800 employees amid major restructuring
The massive downsizing is part of an effort to peel away management layers and slash expenses.
By Daphne Howland • April 27, 2023 -
Many apparel companies don’t tie sustainability goals to executive compensation, report finds
Planet Tracker analyzed the top 30 fashion and apparel companies based on adjusted revenue to determine which were tying pay to climate goals.
By Natalie Schwartz • April 27, 2023 -
Puma Q1 sales rise 14.4% despite North American revenue dip
The German company said growth in other areas helped offset those losses, particularly in the Greater China region.
By Natalie Schwartz • April 26, 2023 -
Kering posts mixed earnings, with Gucci sales rising 1%
The luxury conglomerate brought in about $5.6 billion, with sales nearly flat as declining wholesale revenue eats up the company’s financial gains.
By Natalie Schwartz • April 26, 2023