LONDON – New research suggests that the coronavirus pandemic and the subsequent lockdowns enforced in the UK catalysed a spike in clothes swapping in 2020, particularly amongst consumers aged 16-30.Conducted by Censuswide on behalf of the North London Waste Authority (NLWA), a survey gauged the interest of 1,500 people of varying ages in second-hand fashion.The findings highlighted that young consumers engaged most with pre-owned fashion, with one in two 16 to 30-year olds purchasing more of the

COPENHAGEN – Swedish fashion brand House of Dagmar has won retailer Zalando’s inaugural Sustainability Award, for which it will receive an undisclosed financial prize and the opportunity to partner to develop a new apparel collection.The winner of the accolade was announced at this week’s digital Copenhagen Fashion Week (CFW), with representatives of Zalando, the Global Fashion Agenda and CFW forging a panel that made the decision.Kate Heiny, director of sustainability at Zalando, said: “We are

In its continuous efforts to support its expansion plans, British sportswear retailer JD Sports is seeking to raise £464.2 million through the placing of ordinary shares.The placing shares, reportedly, constitute about 6 per cent of its share capital.Notably, the placing price represented around 2.5 per cent discount to the mid-market closing price of 815p on Wednesday (3 February).The fashion retailer seems to be on an acquisition spree, with the latest being its decision to acquire American sp

The Christian Dior group, a France-based luxury goods company, has recorded 17 per cent revenue decrease to €44.7 billion in its complete fiscal 2020, that ended on December 31, compared to the revenue of €53.6 billion in the previous fiscal. Group’s net profit for the twelve-month period was down to €1.9 billion (FY19: €2.9 billion).Pic: ShutterstockOperating profit for the year fell to €7.9 billion (€11.2 billion), while profit from recurring operations were €8.3 billion (€11.4 billion). Gross

Capri Holdings Limited, a US-based global fashion luxury group, has reported 17.1 per cent revenue decline to $1.3 billion in its third quarter (Q3) FY21 that ended on December 26, 2020, compared to the revenue of $1.5 billion in same quarter previous fiscal. Company’s net income for reported quarter dropped to $178 million (Q3 FY20: $209 million).Pic: Shutterstock“Looking back over the last three quarters since the onset of Covid-19, we are encouraged by the performance of all our luxury houses

Regardless of the fact that the fashion industry has faced a colossal fiscal loss throughout the pandemic outbreak, technical textiles, or non-aesthetic textiles, have evinced their true potential to the health sector.As the pandemic continues to challenge our comfort zones in the way we work, it has created new challenges for the fashion industry which have eventually led to some interesting reforms. Technology in textiles has shown its true potential to the world, and is shaping new trends in

Jigsaw, a well-known British clothing retailer, saw its sales fall by £31 million – all thanks to pandemic and its aftermath that ruined several retailers over the course of last year.Image Courtesy: retailgazette.co.ukAs per the accounts filed at Companies House, the fashion retailer stated that 60 per cent of its sales in 2020 were generated through its e-commerce platform.And that was expected because of the retailer’s continual focus on digital-first strategy.The fact that most of its stores

STOCKHOLM – Swedish fashion giant the H&M Group has announced the expansion of its second-hand platform Sellpy into Austria and the Netherlands, following a successful introduction within Germany last summer.The platform’s rollout into Germany was said to represent “the first stage” of a planned international expansion, and highlighted H&M’s interest in making second-hand fashion more accessible after the firm assumed majority control of Sellpy in 2019.Nanna Andersen, head of H&M’s i

JD Sports’ efforts to extend its business continue!Image Courtesy: fashionunited.ukAfter acquiring Shoe Palace in December 2020 for US $ 325 million and eyeing some of the biggest brands that have gone bankrupt, JD Sports is now set to buy another retailer.JD Sports has, reportedly, announced that it has entered into a conditional agreement to acquire American sportswear and footwear retailer DTLR for US $ 495 million.Notably, around US $ 100 million will be used to repay existing debts.Delighte

After a year into its ‘sweeping’ sustainability strategy publicized in January 2020, Copenhagen Fashion Week has issued its first yearly report. Where the Copenhagen Fashion Week want to strictly maintain transparency, while it inspires other fashion brands to do the same.The report says that 2020 was an ‘extraordinarily eventful and challenging year’ and the COVID-19 global pandemic ‘unleashed unpredictability, unprecedented changes and a new normal on the world’.Figure: The report says that 20