Fashion industry

The online retailer waited a year for the green light from Beijing for its IPO, which had to be cleared by the highest levels of the ruling Chinese Communist Party.

Companies & Markets

Shein wins Chinese approval for Hong Kong IPO

Shein’s last private fundraising round in May 2023 valued it at US$66 billion

Excluding a one-off restructuring cost of 679 million Swedish crowns related to organisational changes, operating profit rose 11%.

Companies & Markets

H&M reports Q2 profit miss as tighter inventory hit sales

Operating profit was flat year on year at 5.91 billion Swedish crowns (S$786.7 million)

Leonardo Maria Del Vecchio is attempting to buy the combined 25% stakes held by his siblings, which would lift his ownership to 37.5%.

Companies & Markets

Ray-Ban heir escalates fight for control of family fortune

LEONARDO Maria Del Vecchio, an heir to the Ray-Ban empire built by his late father, publicly challenged his family’s holding company to back his 10 billion euro (S$14.8 billion) buyout of two siblings...

OT Group CEO Ryoji Shoda says that his luxury plans for Onitsuka Tiger will not necessarily come with a price hike.

Consumer & Healthcare

Onitsuka Tiger pivots from Asics stripes to tap luxury market

The 77-year-old sneaker maker is set to be spun off on Jan 1, 2027

Onitsuka Tiger has been a key growth driver for Asics in recent years.

Consumer & Healthcare

Japan’s Asics to spin off popular Onitsuka Tiger sneaker business; shares rise

The move is aimed at speeding up decision-making and boosting the brand’s global competitiveness

The body-hugging suit features ventilation tubes knitted into the garment.

Lifestyle

Nasa to wear Prada as luxury group pushes into space industry

Luxury brands have long drawn inspiration from space travel

Victoria’s Secret has revived its popular annual runway show after a six-year hiatus.

Companies & Markets

Victoria’s Secret soars as turnaround powers upbeat annual forecasts

Shares of the lingerie retailer have nearly trebled in the past 12 months

Companies that thrived during the online shopping boom have since struggled to sustain growth as consumer demand cooled.

Consumer & Healthcare

E-commerce giant Shein buys apparel brand Everlane: reports

The brand, known for its minimalistic, “quiet luxury” style, is a favourite of celebrities

Singapore

H&M lays off staff in Singapore, moves regional headquarters to Malaysia

It still has six outlets in Singapore

Love Bonito’s store in Central Chidlom in Thailand.

Companies & Markets

Love Bonito eyes Middle East’s long-term prospects as losses trim

Driving its reduced losses in 2024 were measures to make operations more efficient

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