Corporate/Finance: Page 25

  • Savage x Fenty store opening in Las Vegas.
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    Courtesy of Savage x Fenty
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    Savage x Fenty appoints new CEO

    The direct-to-consumer lingerie brand, founded by music star Rihanna, has been steadily expanding its store footprint.

    By Dani James • June 23, 2023
  • Shoppers walking by an Under Armour store.
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    Cara Salpini/Fashion Dive
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    Under Armour lays off 50 in corporate roles

    The cuts are across “several functions” and were made to support the company’s path to profitability.

    By Cara Salpini • June 22, 2023
  • Models in colorful clothes walk the runway during the Pharrell Williams Louis Vuitton Menswear Spring/Summer 2024 show finale as part of Paris Fashion Week. Explore the Trendline➔
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    Aurelien Meunier via Getty Images
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    Trendline

    Top 5 stories from Fashion Dive

    Fashion faced its share of shakeups in the first half of 2024, but few industries are more adept at reinvention or more suited to change.

    By Fashion Dive staff
  • A man in a a black shirt and pants waves with both hands to a seated crowd at the end of a fashion runway.
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    Ben A. Pruchnie via Getty Images
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    Luxury brand Christopher Kane seeks buyer: Bloomberg

    The board of the London-based brand is seeking help to refinance its debt or appoint insolvency administrators to help shutter the label.

    By • June 21, 2023
  • Bracken Darrell poses for a professional headshot in front of a blank background.
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    Courtesy of VF Corp. Business Wire
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    VF Corp. names new CEO

    Bracken Darrell was previously the CEO of computer manufacturer Logitech and was known for boosting its revenues and market share.

    By • June 20, 2023
  • A man in a suit strolls past a closed Ralph Lauren store in the evening.
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    Hollie Adams via Getty Images
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    Ralph Lauren pledges to reach net zero by 2040

    The company’s 2023 Global Citizenship & Sustainability Report, out today, outlines its social and environmental progress and goals.

    By • June 20, 2023
  • A smiling person with short hair, a light beard and a blue shirt.
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    Courtesy of Stitch Fix
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    Stitch Fix taps Macy’s digital chief as CEO

    Matt Baer oversaw initiatives like Macy’s new third-party marketplace. He got his start in retail at the family business, Baers Furniture.

    By Daphne Howland • June 15, 2023
  • Man with grey hair wears a white suit and sits at a white table holding a large white book in front of black and white lettering reading "I think positively for a better world."
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    Jacopo Raule via Getty Images
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    OTB increased its use of renewable energy sources by 41%: report

    The company’s strategy includes a commitment to renewable energy, more reliance on local suppliers and a 2023 target for net-zero internal operations.

    By • June 13, 2023
  • Man stands in front of green backdrop with black polka dots speaking into a microphone and gesturing with one arm.
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    Lia Toby via Getty Images
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    Fiorucci menswear artistic director to depart brand

    Daniel Fletcher has been with the brand since 2019, and his final collection will be released later this year.

    By • June 13, 2023
  • A woman with dark pulled back hair sits on a stage with a yellow backdrop smiling at the camera and holding a microphone.
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    Jason Mendez via Getty Images
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    Hervé Léger names Michelle Ochs creative director

    The Et Ochs designer replaces Christian Juul Nielsen, who has been with the brand since 2018.

    By • June 12, 2023
  • Neiman Marcus store in Friendship Heights, Maryland
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    Daphne Howland/Fashion Dive
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    Excess inventory at Neiman Marcus squeezes Q3 margins

    Some consumers showed wariness in the period, but the department store said its top customers, brands and stores continue to do well.

    By Daphne Howland • June 9, 2023
  • Lit-up store windows show mannequins wearing apparel, including dresses on the left and jeans and a jacket on the right. The banner name "J.Jill" is above and to each side of the door.
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    Courtesy of J. Jill
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    J. Jill refinances long-term debt, plans new POS

    After warning of potential bankruptcy in 2020, the retailer is now focused on investments to enhance its omnichannel capabilities.

    By Nate Delesline III • June 8, 2023
  • A tan swatch of mycelium leather against a teal background.
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    Courtesy of Ecovative
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    Mycelium technology company Ecovative raises over $30M

    The company plans to increase production of its Forager line of hides and flexible foams ahead of new brand partner footwear and apparel launches.

    By • Updated June 8, 2023
  • A dark brown building exterior with Sorel logo in white
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    Courtesy of Sorel / Columbia Sportswear Company
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    Sorel brand president resigns to focus on health

    Columbia Sportswear Company announced that Mark Nenow stepped down from the footwear brand after about eight years in the position.

    By Dani James • June 6, 2023
  • A magenta pullover with teal trim on the left, compared to a white fleece pullover with bright pink and blue trim.
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    Retrieved from Patagonia lawsuit v Gap Inc. filed at the U.S. District Court for the Northern District of California. on November 28, 2022
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    Patagonia and Gap settle pullover fleece design lawsuit

    Patagonia had accused Gap of deliberately copying its apparel designs and logos, saying they confused customers.

    By Nate Delesline III • June 5, 2023
  • A Dr. Martens storefront on Abbot Kinney Boulevard in California.
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    Cara Salpini/Fashion Dive
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    Dr. Martens reaches revenue milestone while sales in the Americas disappoint

    The footwear company attributed its struggle in the region to a poor transition of distribution centers and its marketing campaigns.

    By Dani James • June 2, 2023
  • A shirt tag on the left, with Patagonia brand and size. On the right, a laundry-care tag.
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    Retrieved from Patagonia v Nordstrom, U.S. District Court for the Central District of California Western Division - Los Angeles on May 31, 2023
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    Patagonia sues Nordstrom, claiming counterfeit sales at Rack

    The brand recently stopped selling via the department store and its off-price stores and discovered the alleged fakes this year, per court documents.

    By Daphne Howland • June 1, 2023
  • A pair of black, blue and white converse shoes on a white background
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    Permission granted by Nike
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    Converse taps North America VP as new CEO

    Nearly a dozen people have changed roles in the retailer’s executive ranks in recent months.

    By Nate Delesline III • May 31, 2023
  • Exterior view of a Bally Boutique fashion store at night in Zurich, Switzerland.
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    Remy Steiner via Getty Images
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    Simone Bellotti named design director of Bally

    He moves into the top design role in the wake of Rhuigi Villaseñor’s sudden departure earlier this month.

    By • May 31, 2023
  • Journeys store front
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    "Journeys" by Bentley Mall is licensed under CC BY 1.0 / Edited by https://commons.wikimedia.org/w/index.php?title=User:BentleyMall&action=edit&redlink=1/Fashion Dive
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    Journeys to close 100 stores this year, move away from malls

    The number is up from a previous estimate of 60 locations and will save up to $40 million, according to parent company Genesco.

    By Tatiana Walk-Morris • May 30, 2023
  • A building with a pitched roof and "Athleta" in big block letters is seen at a slant from below.
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    Daphne Howland/Fashion Dive
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    Gap Inc. losses shrink in Q1 as sales continue to slide

    Major cost cuts, including the elimination of some 2,300 jobs in recent months, are helping stabilize the bottom line.

    By Daphne Howland • May 26, 2023
  • A black-and-white handbag is seen being held on the Chanel runway.
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    https://www.gettyimages.com/detail/news-photo/model-bag-detail-walks-the-runway-during-the-chanel-news-photo/1471870476?adppopup=true via Getty Images
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    Chanel sales rise to a record $17B

    The privately owned luxury house plans to increase its workforce and expand its London headquarters in the coming year.

    By • May 25, 2023
  • A headshot of Nike executive Craig Williams against a grey background.
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    Courtesy of Nike
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    In massive executive shuffle, Nike names new Jordan president

    Craig Williams will take on a new role as president of geographies and marketplace, while Sarah Mensah takes on Jordan. The retailer also named a new head of North America.

    By Cara Salpini • May 25, 2023
  • A Chanel sign is pictured outside of its retail store
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    Drew Angerer/Getty Images via Getty Images
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    Chanel buys partial stake of Italian yarn maker Cariaggi

    The French luxury fashion house teamed up with Brunello Cucinelli in a joint agreement, with both now owning 24.5% of the natural fibers supplier.

    By • May 24, 2023
  • Helena Helmersson speaks at a fashion summit.
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    Ole Jensen/Getty Images for Copenhagen Fashion Summit via Getty Images
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    H&M CEO Helena Helmersson named Fashion Pact co-chair

    The group, led by 15 fashion CEOs, includes representatives of brands, retailers and suppliers committed to reducing the industry’s carbon footprint.

    By • May 23, 2023
  • Canada Goose's first footwear campaign
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    Courtesy of Canada Goose
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    Canada Goose revenue jumps in Q4 as it focuses on DTC

    The brand is leaning into its direct-to-consumer channel, which saw sales increase 22.6% in the period, as it plans to open 16 stores in fiscal 2024.

    By Dani James • May 19, 2023