South African retailer Truworths said on Monday that its full-year profit was likely to fall by at least 30% and it was unlikely to pay a dividend, while all options were open for its British footwear business.
France's Finance Minister Bruno Le Maire said on Monday he favoured delaying French summer sales to beef up the cash situation of retailers who were hit by a lockdown triggered by the coronavirus crisis.
One day after Alessandro Michele, creative director of Gucci, revealed on Instagram that the brand would in future stage only two shows per year, the designer called for a reformulation of the fashion calendar.
Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.
At the end of June, ahead of the new digital fashion weeks, Pitti Immagine will launch Pitti Connect, an online platform and marketplace reserved to the exhibitors of its physical shows, now postponed to September.