Retail Giants are now determined to embrace the environment. Levi’s has come out with designer jeans manufactured out of used plastic bottles. Nike has unveiled knitted sneakers that reduce manufacturing waste by 88 percent. A new research shows an increasing pool of global consumers, who are demanding that mainstream brands become sustainable. Green shoppers want green producers.
Canadian sportswear retailer Lululemon Athletica – CEO, Christine Day is stepping down after the recent problems with a line of yoga pants that were inconsiderately see through. The new CEO’S focus will be on product quality issues and finding a strategy to improve and increase product offerings. The recent developments may weigh on the stock in the near term, though it’s a wait and watch situation.
After a tragic construction disaster in Bangladesh, European retailers, including H&M and Wal-Mart, signed the Bangladesh safety accord which will introduce measures aimed at boosting safety conditions in garment factories, taking a step to securing lives of workers. Undeniably, unions had a big part in pushing the European retailers to take action in improving workplace safety at Bangladeshi garment facilities.
On the 6th of November, British luxury fashion group Mulberry informed that the results from the beginning of the second half of the year were promising as retail sales grew significantly after the first half profit had been affected by operating costs. Mulberry Group Plc saw an 11 percent increase in like-for-like sales in the nine weeks ended on the 1st of December.
Emerald green is to dominate 2013 as Pantone LLC has chosen it to be the color of the coming year. To be exact, PANTONE® 17-5641 Emerald has been chosen to be the color of the year for 2013 by the worldwide guru on color for a wide range of industries.
Billabong International Ltd., the Australian surf wear manufacturer, which had expected buyers withdraw offers for takeover the previous month, stated on the 19th of November that one of the directors of the firm was set to investigate a probable Billabong leveraged buyout offer of the company.
H&M Hennes & Mauritz, which is the world’s second-biggest clothing retailer, has published its third-quarter sales that missed analysts’ estimates. The unexpected drop in like-for-like sales in August is said to have been caused by a warm weather in key European markets which had kept customers away from H&M stores. According to compiled data, sales at H&M stores open a year or more dropped by 4 percent in local currencies in August, below the expectation of a growth of 1 percent.