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In the context of a contraction of its sales, which it blames on the global luxury crisis, the Italian fashion brand has seen its profit fall by 95% to well below one million euros, to €470,000.

The Italian department store company sealed the entry of different shareholders to its capital at the end of April, which has now been refuted by the Court of Venice, ending a negotiation process of more than a year.

With declining sales and a disengaged workforce, what has prompted the sports behemoth to falter, and what insights can be gleaned from a brand struggling to connect? This marks the latest chapter in Nike’s ongoing challenges.

The new store is located in The Galleria shopping center in Houston, Texas. The company specializes in denim and is present in Latin American markets such as Peru, Panama, Ecuador, Costa Rica and Guatemala.

The sports fashion company, owned by Pentland Brands, has signed a licensing agreement with the U.S. group as part of its relaunch strategy following the addition of a former Canterbury last year.

Eva Gallego, who comes from the department store group, joins the company to take over from Luis Maseres, who is leaving the company to embark on a new career path. Maseres has been with the company for more than a decade.

The new top executive, Mike Jatania, is also the co-founder of investment group Aurea, which bought the company last year after the British natural cosmetics company went into receivership.

Mark Zuckerberg’s company had been considering taking this step since last year, shortly after the launch of a second edition of Ray-Ban Meta glasses, smart wearables that broke sales records.

Seraphine went public in 2021, only to be bought in 2023 by the private fund Mayfair Equity Partners, which led to its delisting. Two years later, the company, which cannot find investors, is on the verge of bankruptcy.

The fashion industry’s leading firms, encompassing categories like mass distribution, luxury, department stores, and athletic wear, wrapped up the last financial year with growth, even as heavyweights like LVMH and Nike stumbled.

The decision is part of the company’s strategy to adjust its financial trajectory in light of reduced consumer spending. With over twenty years at Estée Lauder, Besnard also holds the position of senior vice president.

The online retail giant has made a formal application for a listing on the Asian stock exchange, attempting to sway British authorities, which still represent Shein’s main pathway to becoming a publicly traded company.

Despite the challenges facing the luxury sector worldwide, the French group remains steadfast in expanding its production capacity. The development of its Le Noirmont site in Switzerland will be completed by 2028, enhancing its value chain control.

As the fashion industry navigates a tumultuous year, a wave of leadership changes is reshaping the competitive landscape, with brands like Primark and Balenciaga making bold moves to redefine their strategies and creative direction.

After eight seasons in the official Haute Couture calendar, the Spanish designer reaffirms her international ambitions. In December, it will open its first store in Miami. The U.S. clientele represents 70% of the total.

The executive close to Bernard Arnault will take the helm to coordinate the luxury group’s strategy in North and Latin America. In addition, he will be non-executive chairman of Tiffany to drive its growth.

The French distribution group reshuffles its workforce with the appointment of Arthur Lemoine as CEO, replacing Nicolas Houzé after twelve years in the position, and who becomes Executive Chairman.

The Spanish streetwear label, originally launched as a digital-native brand, is accelerating its international roadmap with the opening of a U.S. pop-up store scheduled for next year. The initiative follows a first phase of market exploration through showroom presentations aimed at assessing demand and building wholesale relationships.

The French sneaker company has chosen Abbot Kinney Boulevard for its landing. With two hundred points of sale and a turnover of €200 million, the brand is finalizing its own openings in Sao Paulo and Copenhagen.

The Paris court awarded Le Coq Sportif to Dan Mamane’s consortium on Friday. This proposal promises to secure the employment of 300 workers and the industrial future of the brand after months of court battles.

The Swedish group unveils its first digital twins with artificial intelligence, a step that reinforces the brand narrative and anticipates the potential of technologies to transform campaigns and creative processes in fashion.

After adding the historic newspaper to its assets last year, the luxury group is extending its media portfolio and strengthening its power in the French press with the acquisition of Bey Médias, owner of L’Opinion and L’Agefi.

The Asian ecommerce company has been accused in France of misleadingly advertising discounts, following an investigation lasting more than a year and which has analyzed thousands of the products advertised on the platform.

The Portuguese company acquires a majority stake in the capital of AeoniQ, specialized in sustainable cellulosic yarn. Together with Altri, it will build the company’s first industrial plant, which will be operational in 2026.

Nicolas Topiol leaves the maison after twenty years at the helm, coinciding with the integration of the brand into the Spanish company owned by Puig. Management now passes to the Spanish headquarters with no replacement planned for the time being.

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Modaes Global - Companies | Economic news of fashion companies. All the economic news of the main companies in the fashion business in Spain and around the world. - Modaes Global.

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