Gucci’s creative director Alessandro Michele has announced, via Instagram, that the Italian brand will abandon the official runway season, and will instead stage only two shows per year in for the foreseeable future.
Australian discount department store retailer Target could see up to 75 of its stores being closed and many others converted to another of its owner’s banners. Over 1,000 jobs will be affected, owner Wesfarmers said.
Burberry was hit hard by the Covid-19 crisis at the end of its last financial year and the impact is continuing in the new year. But it's seeing resurgent demand in key Asian markets and its strategy remains on track.
The digital-first fashion rental service is reportedly seeking $25 million in its latest funding round, which would see the company valued at approximately $750 million, under a previous valuation of $1 billion.
The Trump Administration's coronavirus relief payment provided a fillip to sales of major retailers in April as millions of Americans used the money to shop, even as the country struggles with record job losses.
The CEO of Canadian e-commerce firm Shopify declared on Thursday the end of “office centricity” and decided to keep company offices closed till 2021, with most employees to work remotely on a permanent basis after that.
M&S has named a new e-tail head as it works on a £1bn recovery plan that involves ramping up its e-tail operations, selling clothing via Ocado and adding third-party brands to its webstore and physical shops.