Week in review: fashion industry’s merger mania amid unsteady economy
The fashion industry is taking advantage of the world's rocky economy and soaring inflation rates by embarking on a wave of mergers, acquisitions and upped stakes.
14 August 2023
14 August 2023
The fashion industry is taking advantage of the world's rocky economy and soaring inflation rates by embarking on a wave of mergers, acquisitions and upped stakes.
As global ecommerce retailer Amazon streamlines its private label clothing brands, analysts suggest it has not been able to use its power or knowledge to outcompete other fashion brands.
A US budget apparel retailer was on the look out for over 10 times more employees than its second closest rival in the apparel jobs ranking list for July 2023, according to GlobalData.
US clothing company HanesBrands, which owns Hanes, Champion and Wonderbra, says it is focusing on cost-saving initiatives to improve performance and enhance shareholder value.
Cone Denim says its Greensboro, North Carolina-based denim mill has become the first mill in North America to join Renewcell's Circulose Supplier Network (CSN).
Fashion company Frasers Group, which owns retailers Sports Direct, House of Fraser and Flannels has signed leases with British Land for over 180,000sqft of UK retail space in a bid to boost its bricks-and-mortar offering but it also continues to make online pureplay investments with another upped stake in UK online retailer Asos on 7 August.
UK retailer John Lewis has revealed a strategic partnership with Google Cloud over the next five years that aims to create a more personalised customer experience using advanced Artificial Intelligence (AI).
National Retail Federation (NRF) chief economist Jack Kleinhenz suggests US consumers are buying more than last year, but spending growth is slowing with a greater focus on purchasing services than apparel and other goods.
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