While the retail giant’s online business has been growing, it continues to be in the red, with expected losses of about $1.7 billion this year.
Major beauty conglomerates like Revlon, L’Oréal and Procter & Gamble have been launching new brands at a rapid clip to compete with indie upstarts. But they’ve had few breakaway hits so far
Fashion veteran Ralph Toledano, who was appointed chairman in March 2018, will lead the business going forward as he aims to revive the loss-making brand.
Last week, the state’s Governor withdrew the incentive for Nike to build the plant after it cancelled the release of its ‘Betsy Ross’ sneaker, which was criticised for links with slavery.
The deal, whose financial terms were not disclosed, follows Galeries Lafayette’s 2012 acquisition of French jeweller Guerin.
Shares of California-based e-tailer have more than doubled since its June listing, giving it a current market value of about $2.7 billion.
For most of its 166-year history, Levi’s was known solely for its jeans. But in the last few years it’s built T-shirts and tops into a $1 billion business.
The inaugural DestinationMiami event is seeking to create new growth opportunities in the travel lifestyle space by curating high-potential emerging brands and nurturing organic connections to buyers.
From Levi’s and Gap to Issey Miyake, global brands are tapping the business potential of khadi, the fabric promoted by Mahatma Gandhi during India’s struggle for independence.
With other retailers finally catching up to Inditex’s super fast supply chain, the world’s biggest fashion retailer will have to rely on its ability to spot trends and make blockbuster items to maintain its competitive edge.