Global Fashion Group saw a strong Q1 as it attracted more customers to its websites and enjoyed a solid recovery in repeat customers. It also attracted more brands and marketplace net merchandise value almost doubled.
The company revealed that its board has unanimously approved its planned spin-off of the Victoria’s Secret brand on Tuesday and provided further details about the transaction, as well as preliminary Q1 financial results.
The United States’ largest mall owner announced that it has been seeing strong growth in traffic during an earnings call on Monday, but is still cautious in its outlook. The company’s revenues fell 0.08% in Q1.
The beauty group announced a 2% decline in Q1 sales on Monday and revealed the Revlon Global Growth Accelerator, an expansion of its existing restructuring plan focusing on the group’s Revlon and Elizabeth Arden brands.
The Federation de la Haute Couture et de la Mode has confirmed that French authorities will allow live catwalk shows in July's haute couture season in Paris; and added Pyer Moss as one of its guest members.