Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt US apparel retailer The Limited with a bid of $26.8M, people familiar with the matter said on Tuesday.
Swedish fashion retailer Hennes & Mauritz said on Tuesday it planned to have elected committees and proper pay structures for workers in its main supply factories across the world by 2018 in a bid to curb labour exploitation.
Milan Fashion Week opens Wednesday, Feb. 22 through Feb. 27, during which some of the biggest names in Italian fashion — Armani, Gucci, Versace, Fendi, Pucci and Prada — will present their fall/winter collections.
Chief executive officers of 16 companies, including Boeing Co, Caterpillar Inc and General Electric Co, have urged the U.S. Congress to pass a comprehensive tax code rewrite, including a controversial border tax.
The French label will unveil a new women’s fragrance in autumn 2017, the first in nearly 15 years. The opus, named Gabrielle Chanel in homage to the label’s founder, will be accompanied by a bag for the occasion.
Consumer price deflation hit Saudi Arabia in January for the first time in over a decade, but plans for increased state revenues mean prices are unlikely to continue falling for more than a few months.