Descente Ltd, a Japanese sports clothing and accessories company, has reported 22.2 per cent sales decline to ¥96.8 billion (Japanese Yen) in its fiscal 2020 ended on March 31, 2021, compared to the sales of ¥124.5 billion in the previous fiscal. However, the company’s operating income for the year jumped to ¥1.8 billion (FY19: ¥379 million).Ordinary income for FY20 rose to ¥584 million (¥456 million), whereas profit attributable to the owners of parent increased to ¥5.0 billion (¥2.4 billion).S

Pandemic showed that the fashion industry is capable of adapting their business model to a change in circumstances as people who spent years rejecting 3D sampling were desperate to adopt the technology so they could work remotely, according to Tukatech founder Ram Sareen. Many businesses will continue working remotely even after the pandemic is over.More than anything, the pandemic showed how exposed the supply chains are, and that made a lot of people want to manufacture closer to the market th

Swiss textile manufacturer Ventile, the brand known for its performance textiles is launching two new fabrics this summer as part of its growing Eco range.Building on its inaugural recycled cotton collection in 2018, the company has expanded the collection to include the Eco Recycled 430 and 420, a higher-weight contrasting-weave 100 percent recycled cotton fabric that is unlike anything else the brand has made previously.The Ventile Eco 420 and Ventile Eco 430 are machine washable 100% recycled

Retail sales in the US remained at elevated levels in May despite month-to-month fluctuations that masked near-record performance, according to the National Retail Federation (NRF). Retail sales at clothing and clothing accessory stores in May were up 3 per cent month-over-month seasonally adjusted and up 198.7 per cent unadjusted year-over-year.“While May retail sales were down slightly, largely due to supply chain constraints, the more accurate indicator remains in the year-over-year data whic

Chanel on Tuesday said its revenue fell 18 percent to 10.1 billion dollars in 2020. The Paris-based luxury house said its business was “highly disrupted” due to store closures and suspension of international travel.Prior to global lockdowns, Chanel had a robust duty-free business, which instantly froze as tourism was halted. While the pandemic has proven to be a profitable time for luxury behemoths Louis Vuitton, Hermes and Dior, many others suffered falling sales. Compensating for supply chain

Fromhacking Balenciagafor its 100th-anniversary collection to launching a newhomeware line, whateverGuccidoes, the world sits up and pays attention. And with the Italian fashion house now officially the most popular luxury brand among gen-Z consumers – which also happens to be the demographic that’s most concerned about acompany’s values– Gucci doesn’t take its status as a megabrand lightly.“[Brands] should lead by example,” Marco Bizzarri, Gucci CEO and president, tellsVoguevia video call of th

STOCKHOLM - The H&M Foundation, the non-profit founded by the Swedish fashion giant to fast track the realisation of the UN's Sustainable Development Goals, has shone a spotlight on 10 innovative start-ups.Entitled the 'Billion Dollar Collection’, the project presents 10 sustainable start-ups which have all won the foundation's Global Change Award which has attracted 20,000 entries since its inception in 2015.The H&M Foundation says customers are increasingly demanding sustai

Jill, the renowned American clothing retailer, has witnessed a surge of 42 per cent in its first quarter sales to post US $ 129.1 million.The first quarter also saw the retailer record an operating profit of US $ 8.7 million. This is in comparison to a loss of US $ 90 million during the same period last year.The margins too rose by 68 per cent during the quarter – up from 55.1 per cent in last year’s quarter.The retailer has attributed the good margins to a strong Mother’s Day weekend with bette

As the world reels under the effect of the coronavirus pandemic that is shutting down entire economies in its wake, the apparel and fashion world is forced to respond rapidly and effectively to deter exacerbating the spread of COVID-19. The domino effect that started with Wuhan in China has catapulted to struggling supply chain links, store closures and the cancellation of some of the biggest events and trade shows in the industry.The second edition of Apparel Sourcing Week, organised byApparel

Cacto, a Mexican-American accessories brand that claims to be the first carbon-negative apparel company in the Americas, believes that carbon neutrality is no longer enough.Cacto makes organic accessories out of cactus leather and has teamed up with On A Mission, a Swiss nonprofit organization that has tracked and reduced 150% of the company's CO2 emissions through sustainable reforestation around the world.According to Cacto, the assessment and offsetting phase will take place every six mon