Bondholders Approve Saks Global’s Five-Year Business Plan
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
South Africa
Retail
South Africa Will Impose New Tax on Fast Fashion Parcels
The country’s tax authority will soon impose a tax on cheap packages to protect the local clothing industry from international e-commerce competitors like Shein.
South Africa Will Impose New Tax on Fast Fashion Parcels
The country’s tax authority will soon impose a tax on cheap packages to protect the local clothing industry from international e-commerce competitors like Shein.
Global Markets
How Fashion Entrepreneurs Are Surviving Crises in South Africa
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
How Fashion Entrepreneurs Are Surviving Crises in South Africa
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
Luxury
Thebe Magugu Wants to Build an International Brand Without Forgetting the Customers at Home
The South African designer is taking a step back from the global stage by prioritising his local market, investing in DTC and working with new stockists across Africa.
Thebe Magugu Wants to Build an International Brand Without Forgetting the Customers at Home
The South African designer is taking a step back from the global stage by prioritising his local market, investing in DTC and working with new stockists across Africa.
Global Markets
South Africa’s Budget Fashion Giant Sees Profits Surge
South African retailer Pepkor Holdings on Friday reported a 115.2 percent jump in annual earnings, rebounding from a low base in 2020 when it was hit by coronavirus lockdown restrictions.
South Africa’s Budget Fashion Giant Sees Profits Surge
South African retailer Pepkor Holdings on Friday reported a 115.2 percent jump in annual earnings, rebounding from a low base in 2020 when it was hit by coronavirus lockdown restrictions.
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Workplace & Talent
South African Retail Giant Truworths Appoints New CFO
Emanuel Cristaudo will take on the role of chief financial officer of the 104-year-old South African fashion retailer effective July 1, Reuters
South African Retail Giant Truworths Appoints New CFO
Emanuel Cristaudo will take on the role of chief financial officer of the 104-year-old South African fashion retailer effective July 1, Reuters
Global Markets
Africa’s $20 Billion E-Commerce Opportunity
The pandemic shone a spotlight on African e-commerce giants like Jumia, Konga and Takealot but now there is a race to become the fashion gateway for the continent. Which specialist etailer will win?
Africa’s $20 Billion E-Commerce Opportunity
The pandemic shone a spotlight on African e-commerce giants like Jumia, Konga and Takealot but now there is a race to become the fashion gateway for the continent. Which specialist etailer will win?
Retail
Old Mutual Backs South African Retailer Footgear’s Acquisition Plans
The plan to buy Edcon’s Edgars Active and High Key assets will create one of Southern Africa's largest sports and casual wear businesses.
Old Mutual Backs South African Retailer Footgear’s Acquisition Plans
The plan to buy Edcon’s Edgars Active and High Key assets will create one of Southern Africa's largest sports and casual wear businesses.
Beauty
South African Department Store Woolworths Partners With Beyoncé Makeup Artist
Like many of its peers, Woolworths has invested heavily in its beauty business by partnering luxury international brands such as House of Chanel, Estée Lauder and Jo Malone.
South African Department Store Woolworths Partners With Beyoncé Makeup Artist
Like many of its peers, Woolworths has invested heavily in its beauty business by partnering luxury international brands such as House of Chanel, Estée Lauder and Jo Malone.
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News & Analysis
Nkosiyati Khumalo: 'Fashion Needs to Include More Diverse Voices'
This week, we meet BoF Professional member Nkosiyati Khumalo, editor-in-chief of GQ South Africa.
Nkosiyati Khumalo: 'Fashion Needs to Include More Diverse Voices'
This week, we meet BoF Professional member Nkosiyati Khumalo, editor-in-chief of GQ South Africa.
Retail
Woolworths CEO Under Pressure as David Jones Struggles
Two Australian non-executive directors resigned from David Jones last week, hot on the heels of CEO David Thomas, the third head of that business to leave in five years.
Woolworths CEO Under Pressure as David Jones Struggles
Two Australian non-executive directors resigned from David Jones last week, hot on the heels of CEO David Thomas, the third head of that business to leave in five years.
Retail
South Africa's Woolworths Hit by Sluggish Sales, Earnings Warning
Sales at the local fashion, beauty and home business declined by 2 percent, with comparable store sales down 2.4 percent due to a significantly smaller winter clearance sale in the first quarter.
South Africa's Woolworths Hit by Sluggish Sales, Earnings Warning
Sales at the local fashion, beauty and home business declined by 2 percent, with comparable store sales down 2.4 percent due to a significantly smaller winter clearance sale in the first quarter.
News & Analysis
Nike Stores in South Africa Reopen Following Backlash Over Racist Video
Some stores were closed earlier in the week following a backlash over racist comments by a man said to have links to the US sportswear company.
Nike Stores in South Africa Reopen Following Backlash Over Racist Video
Some stores were closed earlier in the week following a backlash over racist comments by a man said to have links to the US sportswear company.
The News in Brief
Luxury Stocks Face Most Bearish Sentiment in Years, UBS Says
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Trump Signs Order to Combat Fraudulent ‘Made in America’ Labels, White House Says
The executive order directs the FTC chairman to prioritise enforcement of existing laws against sellers and manufacturers who falsely claim products are made in America.
Lanvin Deputy CEO Siddhartha Shukla Exits Brand
Owner Lanvin Group said it is ‘fully committed’ to the French label’s development under creative director Peter Copping, with CEO Andy Lew in charge of management.
Ulta Beauty Forecasts Annual Profit Below Estimates
Shares declined in after-hours trading as the beauty retailer expressed a cautious outlook for 2026.
Exclusive: Brita Invests in Shower Filter Firm Hello Klean
The German water filtration firm has acquired a minority stake in Hello Klean, which sells shower heads it claims mitigate the effects of hard water.
AII Launches Industry-First Tool Standardising Measurement of Carbon Emissions
The new tool published by the climate-focused nonprofit aims to create a standardised benchmark across textile facilities to accelerate fashion’s efforts to decarbonise.
Marco De Vincenzo Exits Etro
The creative director’s departure after four years was a decision of ‘mutual agreement’ according to the Italian label.