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☆ Zara Lets U.K. Customers Resell Used Clothes to Help Soothe Environmental Concerns
▼ + stars: | 2022-11-03 | by ( Dieter Holger | ) www.wsj.com time to read: 1 min

Zara is now helping U.K. customers resell clothes on its online store, adding a new service to aid the fast-fashion retailer’s efforts to achieve its sustainability goals. The Spanish clothing retailer, part of European fashion giant Inditex SA, said Thursday its new secondhand service has launched, starting in the U.K. The platform has...

☆ Factbox: Companies count the cost of ditching Russia
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +6 min

INDITEX (ITX.MC)Zara owner will book a provision of 216 million euros after agreeing to sell its Russia stores to UAE-based Daher Group. TRATON (8TRA.DE)Volkswagen's (VOWG_p.DE) truck division Traton in September said disposing of some assets in Russia would cause a 550 million euro loss. CREDIT AGRICOLE (CAGR.PA)Credit Agricole provisioned more than 500 million euros related to its Russian exposure in Q1. LINDEThe world's largest industrial gases company's exit from Russia recorded impairments of $993 million from its Russia exit. SIEMENS (SIEGn.DE)The Munich-based engineering and tech firm said in May it would take a 600 million euro hit in Q2 for exiting Russia.

☆ Inditex sells Russian business to Middle Eastern Daher Group
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

MADRID, Oct 25 (Reuters) - Zara owner Inditex (ITX.MC) has agreed to sell its stores in Russia to UAE-based Daher Group, though it did not rule out returning to the country if circumstances change, the Spanish clothing company said on Tuesday. Inditex closed its over 500 stores in Russia in March following Moscow's invasion of Ukraine on Feb. 24 and subsequent Western sanctions. Provided landlords approve the change in ownership, the Spanish firm said its premises could be adapted to accommodate Daher's operations. A company source told Reuters that Daher Group is Emirati. Reporting by David Latona and Corina Pons; Editing by Andrei Khalip and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Retailer Zara under fire in Israel over event for far right candidate
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

Labor Party leader and Transportation Minister Merav Michaeli said that she will no longer shop at Zara in Israel due to the event, local media quoted her as saying. Trimera holds the Israel franchise for Zara, which operates 24 stores in Israel and 1,800 globally. Zara is owned by Spain's Inditex, which did not immediately respond to a request for comment. Spokespeople for Schwebel and Zara described the event as private, declining further comment. While not confirming the campaign event, Ben-Gvir said Schwebel faced "a boycott based on his political background".

☆ Second strike at Liverpool to add to European port congestion, slow product delivery
▼ + stars: | 2022-10-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. Bloomberg | Bloomberg | Getty ImagesLogistics experts are warning another strike set at the Port of Liverpool for Tuesday will only add to the existing delays in product delivery caused by the prior strikes at Felixstowe and Liverpool. Dockworkers in Liverpool, a significant U.K. port and a port where the U.S. is the No. Trade productivity at Felixstowe, the U.K.'s largest container port, and Liverpool have suffered as a result of various labor strikes since August. Braun told CNBC that the disruptions of past strikes and the upcoming Liverpool strike will unquestionably aggravate the existing congestion.

☆ H&M to cut costs as profits hit by inflation, cautious shoppers
▼ + stars: | 2022-09-29 | by ( Anna Ringstrom | ) www.reuters.com time to read: +4 min

Pretax profit in the June-August period, the Swedish group's fiscal third quarter, fell to 689 million crowns ($60.9 million) from 6.09 billion a year-earlier. Five analysts polled by Refinitiv had on average forecast a 2.98 billion crown profit. "Overall, these factors had a substantial negative impact on profit for the quarter," CEO Helena Helmersson said. "We have chosen not to fully compensate for the increased costs, which is reflected in the gross margin." Market leader Inditex (ITX.MC), the owner of Zara, which has been weathering the tough market conditions better than H&M, increased sales in its May-July quarter.

☆ India's Reliance launches first in-house premium fashion store
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Sept 29 (Reuters) - Reliance Industries Ltd's (RELI.NS) retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market. "The mid-premium fashion segment is one of the fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion," said Akhilesh Prasad, chief executive officer of the fashion and lifestyle arm of Reliance Retail. Register now for FREE unlimited access to Reuters.com RegisterThe company plans to have up to 40 stores across 12 cities over the next nine months, he added. In three years, Azorte will contribute to 15% incremental revenue of Reliance Retail's fashion and lifestyle business, Prasad said at the store launch in Bengaluru. The new store chain is a part of Reliance Industries' aggressive strides in the retail industry, forging partnerships with domestic and global brands.

☆ Morning Bid: Dysfunction and intervention
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +5 min

Amid all the chaos in British bond markets, the forced intervention by the Bank of England to buy gilts has given some investors a crumb of comfort about the limits of central bank tightening. Cold comfort maybe, but enough to drag bond yields back and lift stocks briefly around the world. While 30-year gilt yields steadied just below 4% on Thursday after their 100bp swoon the previous day, the pound was sliding again and UK midcap stocks dropped. read moreEasing inflation in Spain was better news read more . Market leader Inditex (ITX.MC), the owner of Zara, slipped 2.2%, while the wider STOXX retailers index <.SXRP> slid 4.3%.

☆ Analysis: Price hikes test Inditex's ability to stay in fashion
▼ + stars: | 2022-09-15 | by ( Corina Pons | ) www.reuters.com time to read: +3 min

Instead, it should consider incremental, targeted increases to test customers' willingness to pay more, rather than automatic and across-the-board price rises, they said. The world's biggest fashion retailer said on Wednesday it would raise prices again in the second half of the year after spring and summer increases. Fashion manufacturers in Europe and North America continue to feel pressure from rising energy, labour, transport and raw material costs and so are likely to have to raise prices more. "While first price increases were accepted in the first half of the year ... we expect Inditex and most peers to post double-digit price increases in Europe in the second semester. The cumulative price increases of 15-20% in Europe are likely to lead to consumers trading down," Credit Suisse said in a research note.

☆ Мексика обвинила Zara в краже их культуры
▼ + stars: | 2021-06-05 | by ( Mld Media Srl | ) noi.md time to read: +1 min

Мексика обвинила международные модные бренды Zara, Anthropologie и Patowl в присвоении культуры, заявив, что они использовали образцы местных мексиканских групп в своих проектах, не принося пользы сообществам, о которых идет речь. В пятницу Министерство культуры Мексики заявило, что оно направило трем компаниям письма, подписанные министром культуры Алехандрой Фраусто, с просьбой «публично разъяснить, на каком основании коллективная собственность может быть приватизирована». По данным министерства, ZARA, принадлежащая крупнейшему в мире розничному продавцу одежды Inditex, использовала узор, типичный для местного сообщества в Сан-Хуан-Колорадо в южном штате Оахака. Anthropologie, принадлежащая URBN, использовала дизайн, разработанный другим местным сообществом, а Пэтоул скопировал образец из Сан-Антонио Кантино Веласко, по данным Министерства культуры. В 2019 году мексиканское правительство обвинило модный дом Carolina Herrera в культурном присвоении местных узоров и текстиля из Мексики в своей коллекции.

Persons: Anthropologie Patowl, Inditex, Carolina Herrera, Puig, 2019 Herrera, Алехандрой Фраусто, Пэтоул, Кантино Веласко, Каролина Эррера, Уэс Гордон Organizations: Министерство культуры Locations: Zara, ZARA, Inditex, Мексика, СанХуанКолорадо, Оахака, СанАнтонио

☆ Miliardarul spaniol a devenit cel mai mare investitor din real-estate-ul european
▼ + stars: | 2020-07-07 | by ( On | In | ) omniapres.md time to read: +2 min

După ce a făcut o avere în industria modei, miliardarul spaniol Amancio Ortega şi-a îndreptat atenţia către imobiliare, devenind cel mai mare investitor din domeniu dintre super-bogaţii Europei, anunţă Bloomberg. Proprietăţile miliardarului spaniol au crescut până la 15,2 miliarde de euro, a anunţat compania sa marţi, pentru prima dată. Fiul unui lucrător feroviar, Ortega are o avere netă de 58,5 miliarde de dolari, potrivit indicelui Bloomberg Billionaires Index, cea mai mare parte provenind din pachetul său majoritar din Inditex. Averea sa a scăzut cu mai mult de o cincime în acest an, ca urmare a pandemiei, care a obligat Inditex să închidă magazine. În afară de bunurile imobiliare, Ortega a investit şi în energie şi telecomunicaţii, achiziţionând un pachet de 5% în Enagas anul trecut.

Persons: Amancio, ., Achiziţiile, Pontegadea, Inditex Organizations: Amancio Ortega, Ortega, Zara Inditex SA, Facebook Locations: Europei, Zara, Spania, SUA, Building, Manhattan, Miami, Chicago, Washington, Seattle, Amazon.com, The

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