The Frasers Group recently warned of possible store closures after it reviews its estate, as the group said the UK government aid for the COVID-19-hit retail sector was not good enough. “The 2 million pound rates cap ... from July 2021 to March 2022, makes it a near worthless support package for large retailers,” Mike Ashely-owned Frasers said in a statement.Pic: Fraser GroupThe United Kingdom will extend a year-long business rates exemption for retail, hospitality and leisure businesses to the

NEW YORK – Fashion brand Ralph Lauren has announced a new circularity strategy that will centre on three pillars: designing for circularity, establishing circular experiences for consumers, and advancing a circular product economy.It follows last week’s news that the brand hasstepped into the rental marketwith a new subscription-based service called the Lauren Look.President and CEO, Patrice Louvet, said:“The spirit of timelessness has been core to Ralph’s creative vision for more than 50 years,

Mango, the popular Spanish clothing retailer, saw its year-on-year (Y-o-Y) online sales soar by 36 per cent to post an impressive €766 million.Image Courtesy: ecotextile.comNotably, the revenue generated through its online sales represented 42 per cent of the overall turnover for the period that was plagued by coronavirus crisis.Expectedly, the bricks-and-mortar stores’ turnover slumped by a worrying 43 per cent.Following financial expenses and accounting adjustments, Mango made a gross loss of

NEW YORK – Fashion giant Ralph Lauren has joined the growing number of luxury companies stepping into recommerce by launching a subscription-based rental scheme.Called the Lauren Look, customers will pay US$125 a month to join the scheme and will in return receive their favourite pieces from the Lauren brand’s recent lines.New products will arrive on theweb-based rental platformweekly, with members being invited to curate their own virtual closetsfrom which they receive four available items at a

Struggling UK fashion retailer French Connection is seeking new suitors as investment firms Spotlight Brands and Gordon Brothers pulled out of preliminary talks to buy it. The company had launched a sale process and had been approached by three other parties. It said it is still in preliminary talks with previously announced joint suitor Go Global Retail and HMJ International.Pic: ShutterstockGo Global-HMJ has until March 5 to decide whether to make a bid, a global newswire reported.Once known f

Brand: United Colors of BenettonCompany: Benetton GroupLocation: Florence, ItalyArea: 160 sq mtPic: Benetton GroupProduct profile: The store offers wide range of United Colors of Benetton sustainable garments in organic, recycled or BCI (Better Cotton Initiative) cotton, regenerated nylon, natural fibres such as linen, and other sustainable materials.Store design | Interiors & VM | Fixtures: The store interiors are made with new materials created from textile industry scrap: the perimeter pl

LONDON - BlackRock, the world's largest asset management firm, has identified 'fast fashion' as one of four key sectors which it expects to accelerate post-pandemic growth towards circularity in the coming months.A new report by the managers of BlackRock's Circular Economy Fund said the coronavirus pandemic had threatened to stall the world’s transition towards circular solutions.But they expect the move towards a circular economy to get back on track this year with four key sect

FITZROY – Fashion brand Arnsdorf is to become the first Australian company to collaborate with blockchain-enabled second-hand clothing service SwapChain, developed by Global Fashion Exchange (GFE).The clothes swapping concept will see Arnsdorf entitle its customers to return their unwanted stock in exchange for ‘SwapChain tokens’, from now until the 7thMarch.From the 12thto the 20th, the brand will host a swap-themed event at its boutique in the city of Fitzroy, enabling customers to purchase ot

The Lakme Fashion Week (LFW), jointly organised by Lakme & RISE Worldwide (formerly IMG Reliance); and Fashion Design Council of India (FDCI), are set to present a joint schedule at Lakme Fashion Week. The Phygital Fashion Week will take place from March 16-21, 2021. The fashion event will have a special unity logo designed to mark the occasion.Pic: Fashion Design Council of IndiaLFW and FDCI will release the schedule shortly comprising the best of curation and designers from Delhi, Mumbai,

SAO PAULO - Brazil needs to step up efforts to build a more sustainable fashion supply chain amidst reports of rising pollution and deforestation in textiles production, according to a new report.The study, entitled Fashion Threads: Systemic Perspectives for a Circular Fashion, was funded by the Laudes Foundation and produced by sustainable fashion consultancy Regenerate, environmental media company Modefico and Brazilian thinktank Fundação Getulio Vargas.It argues that emissions from cotton far