Boss, Hugo Boss‘ more formal line, showcases its summer collection in a truly exotic and exclusive setting. The collection is paired with a “Bali experience”, both physical and virtual. Villa for VIPs Consumers are looking for ‘experience’, and Hugo Boss has understood that well. Tailoring to a new generation of luxury consumers, who are more driven by travel and experiences than stuff, Boss is taking retail to another level with Boss House Bali. For the launch of its spring/summer 2024 collection, Boss is taking over a villa on the island of Bali, built by architect Alexis Dorni ..read more

Vinted, the popular online platform for second-hand fashion, made a profit for the first time since its inception in 2023. The growth potential in the second-hand market is huge, according to the retailer. “Immature market” Last year, Vinted saw sales rise by as much as 61% to 596 million euros. Moreover, the second-hand fashion app posted a net profit of 17.8 million euros – the first black figures for the company since it was founded in 2008. A year earlier, it had posted a net loss of 20.4 million euros. “Second-hand fashion is still a relatively immature market and only a tiny proportion o ..read more

British fashion brand Ted Baker considers closing shops in Belgium, the Netherlands and Spain. The retail divisions running operations in those countries may go into administration. 149 jobs at risk After the UK operating business, insolvency is now looming for Ted Baker’s retail divisions in the Netherlands, Belgium and Spain. According to WWD, local businesses could soon go into administration. Subsequently, shop closures could be imminent: four shops in the Netherlands and Belgium and seven shop-in-shops in the Netherlands may close soon. Among others, the brand has shops in Antwerp and Ams ..read more

While parent company Galeria needs to reorganise, Inno posted profits for the second consecutive year, albeit slightly lower than a year earlier. The department store chain’s premium strategy seems to be paying off. Premium positioning Inno posted a turnover of 292 million euros last financial year – which closed at the end of September – a growth of 2.5%. Net profit was 1.3 million euros. A year earlier, it was 2.6 million. This is according to the annual accounts just published, which newspaper De Tijd was able to inspect. The department store chain posted a profit for the second year in a r ..read more

German department store chain Galeria will retain 76 of its 92 stores after the takeover. Half of the head office staff will also exit. Better leases Since the takeover of Galeria Karstadt Kaufhof, administrator Stefan Denkhaus and the new owners have been negotiating the leases of the stores. The aim was to achieve a rent of 7 to 11% of turnover, in order to be able to make each department store profitable. For 16 department stores, however, an economically viable result proved unattainable, Denkhaus told Lebensmittel Zeitung. The department stores closing are mainly in smaller or medium-size ..read more

Private equity giant KKR has acquired Dutch eyewear group Nexeye (Hans Anders, Eyes + More) from British 3i. The new owner wants to enable further expansion, both in current and new markets. Expansion to Spain Nexeye currently operates in five countries (Austria, Belgium, Germany, Sweden and the Netherlands), but plans to use the acquisition to expand into Spain and Portugal as well. The group also sees room for further expansion in its existing markets, particularly Germany and Sweden, Dutch newspaper FD reports. In early March, rumours surfaced that 3i had put Nexeye up for sale, but that in ..read more

Gucci parent Kering expects profits to plummet in first half of 2024. After a drop in sales in the first quarter, owner Pinault admits that the luxury group’s performance has deteriorated significantly. 45% lower profits Kering, the parent company of luxury brands such as Gucci and Balenciaga, predicts that operating profit could fall by as much as 45% in the first half of the year compared to the same period last year. Performance worstened significantly in the first quarter, top executive François-Henri Pinault told the Financial Times. Although the group had expected challenging starts to t ..read more

LVMH expects slow years for the luxury sector. Last quarter, sales rose a mere 3%, due to reluctant Chinese customers and a decline after the Covid boost years. Over its peak The parent house of Louis Vuitton and Dior sees growth slowing due to waning demand for luxury goods. Group sales rose 3% organically to 20.7 billion euros, but negative currency effects pulled sales down another 4%. It is a remarkable turnaround after years of strong growth, when luxury shoppers went “revenge shopping” after and between coronalockdowns. In the key Asian market, excluding Japan, comparable sales fell 6 ..read more

Ailing fashion chain Superdry announces a drastic restructuring: it will cut rents and costs, increase its capital and disappear from the stock exchange. Capital increase For several months now, Superdry has been fighting for its survival: the retailer had to swallow a double-digit decline in sales last year and also saw its losses double despite a cost-cutting plan. Now the brand is announcing a major restructuring plan for the next three years. A do or die plan, British media report, as without intervention it may risk going into administration. The company is renegotiating rents for its sho ..read more

Huge cotton plantations are popping up in the Brazilian savannah, which also supply fashion giants like Inditex and H&M. Although labelled as ‘Better Cotton’, the Brazilian cotton goes hand in hand with deforestation and pollution, according to research. Increasing deforestation New research by British NGO Earthsight tracked 816,000 tonnes of cotton shipped from Brazil’s Cerrado nature reserve to eight Asian textile mills. Ultimately, a significant proportion of that – in the form of 250 million garments – ended up in the shops of the world’s biggest fashion groups. Particularly ..read more