The owner of the Danish apparel group has increased his stake in Asos to 29% according to regulatory filings Tuesday, taking its investment to just below the 30% mark that would trigger a mandatory bid for the company.
John Lewis has been growing fast in the fashion sector in recent years and it wants to accelerate that growth with its latest move being the launch of an own brand LA-inspired denim lifestyle offer next week.
The world's biggest clothing retailer, Zara-owner Inditex, reported a 10% jump in annual net profit on Wednesday as strong growth in emerging markets and increased online presence outweighed negative currency effects.
Pentland Brands has added to its portfolio of sports-linked labels with an investment in Californian casual lifestyle sneaker brand SeaVees. The dormant brand was revived in 2009 and now plans a global rollout
Ant Financial, the financial services affiliate of China's Alibaba, said it remained committed to the consummation of its merger with U.S. company MoneyGram International, after Euronet Worldwide trumped its offer.
Neiman Marcus posted a net loss of $117.1 million in the second quarter and a loss of $140.6 million for first half of its fiscal year. The retailer is reportedly exploring a sale or debt restructuring.
Adidas set a target on Tuesday for sales in North America to rise by almost half by 2020, predicting strong demand will continue for fashion sneakers after its retro Superstar was the top selling shoe there in 2016.
LK Bennett is officially launching its first store in Russia on Thursday (March 16). The debut follows a soft launch last August at the Metropolis mall in Moscow as the UK firm targets faster growth abroad.