Companies

The biggest Latin American marketplace has closed the first half of the year with double-digit increases in both company sales and profits, surpassing the billion-dollar mark for the first time.

As one of the rare holdouts in major retail without an online shopping option, the Irish company is launching its app initially in Ireland and Italy, with a UK rollout to follow.

The German company has experienced a downturn in sales across Asia and America, with revenue growth restricted to Europe, the Middle East, and Africa. Only the digital channel has seen an increase compared to the previous year.

The Chinese e-commerce powerhouse is poised to acquire the German Ceconomy, solidifying its presence in Europe through a transaction valued around €2.2 billion.

The American conglomerate is set to finalize the sale of its footwear brand Stuart Weitzman to a fellow shoe group, in a deal announced in February and valued at $105 million.

Amid a robust push for brick-and-mortar expansion under new retail leadership by Pablo Badía, the Madrid-based fashion company is set to enter markets like Guatemala and El Salvador through a partnership with major department store chain Siman.

Facing a one-million-euro penalty, the fashion powerhouse is under scrutiny after Italy’s competition office launched a probe in September, alleging false sustainable assertions.

The Chinese platform has joined forces with the International Trademark Association as a corporate member, engaging in initiatives aimed at enhancing intellectual property protection and combating counterfeiting.

The beauty brand, owned by French luxury conglomerate LVMH and singer Rihanna, is set to make its debut in India, expanding its online presence and launching in up to fifty brick-and-mortar locations across 16 cities.

Amid financial woes, maternity fashion brand Seraphine finds a lifeline as a British fashion distributor steps in. The company has appointed two new administrators and temporarily halted online activities ahead of its relaunch.

Marco Gobbetti joins Aeffe’s board, succeeding Roberto Lugano amid a leadership change. The Italian group experiences a 40.58% decrease in its six-month financial results.

With first-half sales reaching 537.6 million, the company underscores its renewed partnerships with Under Armour and Kering while welcoming Victoria Beckham into its licensing roster.

The Italian Competition Authority (Agcm) has accused the Italian fashion giant of outsourcing production to subcontractors that fail to ensure fair labor conditions. Armani has announced plans to appeal the decision.

Lobban, who previously served as executive vice president and general manager of apparel & designer at Nordstrom, will take his talents to the US company this September. His professional journey includes notable positions at Selfridges and Mr Porter.

Having been with Adidas since 2005, the executive now takes on a pivotal role at Puma. Hubert is tasked with managing global sourcing, with additional responsibilities in sustainability, development, and logistics from September onwards.

The American fashion and sports equipment group has wrapped up the first half of the fiscal year with a 4.88% increase in results, reaching $32 million, compared to the same period last year.

The executive is set to leave the company this Thursday after serving less than a year, citing personal reasons. Additionally, he will also vacate his role as the strategy director at Only The Brave (OTB), the conglomerate that encompasses the brand.

The German sportswear giant ends the period in the red with a loss of €246.6 million, as previously forecasted. Sales slipped 1% to €4.01 billion during this time.

In the first six months of the year, the Italian footwear company reported a reduced loss of €4.89 million, a stark contrast to the €15.45 million loss during the same timeframe last year.

The Italian powerhouse wrapped up the first half of the year with sales reaching €2.74 billion and a net income of €386 million. The company plans to finalize its acquisition of Versace in the latter half of 2025.

The American company attributes its performance to restructuring expenses totaling $207.6 million, closing its first fiscal quarter with revenues of $1.76 billion.

The German company’s recovery momentum remains steady with prudent guidance for upcoming quarters, posting €12.10 billion in revenue and €798 million in net earnings for the first half.

Attributed to an ‘exceptional levy on big companies’ profits in France,‘ the French firm’s net income has taken a hit. Meanwhile, sales soared to €8.03 billion.

Established in 2003 in Medellin, the company now sees 60% of its sales coming from outside Colombia. Ready-to-wear, bolstered by its second brand, constitutes 60% of its operations. With Natalia Morales at the helm, growth is projected to surpass 20%.

Cosmetics giant from France posts a 1.3% sales drop in the second quarter to €10.73 billion, and warns of a 3.7% decrease in annual sales due to currency shifts.

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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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