British value-for-money retailer Peacock reported a sales increase of 11.8 per cent to GBP 548.2 million. The company announced its preliminary results at the end of May, revealing a buoyant year. The Group’s like-for-like sales were up 3.6 per cent. Profit before tax climbed 6.9 per cent to GBP 38.5 million and gross product margins…
Read morePinault ordered to pay 190m in legal battle
A U.S. judge has ordered French billionaire François Pinault to pay almost $190 million plus interest to the California insurance commissioner in what is ostensibly the last chapter of the drawn-out Executive Life affair. Pinault, who controls French diversified retailer PPR, which owns Gucci Group, is said to have long ago set aside sufficient funds…
Read moreVivier opens in Hong Kong
French luxury shoe designer Roger Vivier has opened a single-brand boutique in Hong Kong , thereby entering the Asian market. The label, which is owned by Italian business man Diego Della Valle who also owns Tod’s, is situated in the luxurious shopping centre the Landmark. The shop encompasses 550 square metres. The company has said…
Read moreKorean counterfeiters prefer Chanel
Chanel was recently distinguished as being the most popular line among counterfeit goods producers. Countries such as China and Korea are the highest producers of fake goods, and The Korea Customs Service announced this week that of USD162.5 million worth of fake products seized last year, those bearing Chanel’s logo accounted for USD23.5 million ,…
Read moreAlexander McQueen launches affordable line
Alexander McQueen may be considered the bad boy of the fashion pack, but aside from his beautiful and high-end creations, he is a savvy businessman. McQueen knows that what is commercial is not always cutting edge or magazine-worthy. And he also knows that his signature detailing can be easily translated from couture to high street…
Read moreWeb loses millions in sales due to slow processing
UK retailers lost an estimated £84 million of online sales in the busiest quarter of 2005 due to unreliable websites, according to research conducted by leading retail analyst, Verdict Consulting. As was published by Retail Bulletin, the results are based on conservative growth estimates of the online sales channel, this figure looks set to rise…
Read moreVersace to focus on accessories
Italian fashion house Versace is to focus on its bags and accessories after growing demand and a sales increase of 50 percent. Donatella Versace, in an interview with WWD, stated: “Accessories today have to be anything but ordinary and banal.” Versace is focused on growing the company’s accessories division as sales are expected to leap…
Read moreRalph Lauren buys back Reebok licensing
Polo Ralph Lauren will buy Reebok International Ltd.’s rights to the Ralph Lauren line of footwear for $110 million in cash, ending a 9-year-old licensing agreement under which Reebok made and sold shoes under the Ralph Lauren label. Reebok chairman and chief executive Paul Fireman said Monday the agreement will allow the Canton-based maker of…
Read moreChristmas should see rise in online retailing
Online retailing continues to post healthy gains, and the latest analysis from Hitwise reveals that this growth is set to continue through the busy Christmas season. The online retail sector will grow 25 per cent in share of visits from July 2005 to December 2005, representing a 12 per cent year-on-year increase since December 2004….
Read moreBenetton posts mixed 2005 results
Italian fashion retailer Benetton recorded consolidated revenues of €1.765 million (£1.229 million) for 2005, up from €1.704 million the previous year. Net income rose to €112 million from €109 million in 2004, while the net financial position fell to €351 million from €441 million the year before. The group said revenues growth was boosted by…
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