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HISTORICAL FACTS: 3 | History Defined

H&M will stop operations in Myanmar following allegations of worker abuse

The Swedish retailer, which said it would "phase out" operations in Myanmar, has about 42,000 employees in the country across several factories.

Fortune

H&M probes alleged Myanmar factory abuses as pressure intensifies

A human rights group tracked 156 cases of alleged worker abuse in Myanmar garment factories at various brands.

Al Jazeera

France drops fashion groups probe over Uyghur forced labour

French magistrates have dropped a probe into allegations that four fashion retailers were sourcing supplies in China involving the forced labour of the Uyghur population.

Radio France Internationale

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Fashion Retailer H&M Posts Surprise Dec-Feb Profit

H&M, the world's second-biggest fashion retailer, reported on Thursday a surprise operating profit for the December-February period, despite weak demand as consumers curtailed spending amid soaring inflation. Operating profit in the Swedish group's fiscal first quarter was 725 million Swedish crowns ($69.73 million) against a profit of 458 million a…

Asharq Al-Awsat

Zara Owner Inditex’s Profit Jump in First Year with Marta Ortega at Helm

Zara owner Inditex on Wednesday posted a 27% net profit increase in 2022 as sales exceeded pre-pandemic levels in the first full year since Marta Ortega, daughter of founder Amancio Ortega, took over at the helm of the company. In-store and online sales for the world's biggest fashion retailer reached…

Asharq Al-Awsat

Zara Shopworkers Call off Strikes in Company’s Hometown After Pay Rise Deal

A union representing shop assistants at fashion retailer Zara has called off planned strikes in the company's hometown in northern Spain following an agreement on a pay rise, a union leader said on Friday. Around 1,000 workers at Zara shops and other Inditex (ITX.MC) fashion brands had announced they would…

Asharq Al-Awsat

Fast-fashion customers stick with Zara as sales and profits rise at its owner Inditex

Sales at the Spanish giant behind the millennials’ favourite fashion house reach £20 billion in the year to October 31

Evening Standard

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Inditex Profit Jumps as Zara Owner Lifts Prices

Zara owner Inditex posted a 24% increase in net profit for the first nine months of its fiscal year, as price rises helped offset weakening global demand for clothing. The world's biggest fashion retailer's store and online sales rose 19% from a year ago, slightly faster than analysts had expected.…

Asharq Al-Awsat

Who is Amancio Ortega? The Spanish billionaire interested in buying Manchester United

Spanish billionaire Amancio Ortega is understood to have informed executives of his interest in buying Manchester United.

Manchester Evening News

Zara founder Amancio Ortega registers interest in buying Manchester United

Amancio Ortega is the 19th-richest person in the world, according to Forbes' real-time billionaires list, and has informed senior executives of his interest in buying Manchester United.

Manchester Evening News

Zara UK Customers Offered In-house Swap, Mend and Donate Service

Zara said on Friday it will launch an in-house service for British customers to sell, repair or donate second-hand clothes, moving the Spanish brand into a growing part of the market. The platform, to be launched on Nov. 3, will be available through Zara stores, its website and a mobile…

Asharq Al-Awsat

IKEA sacks 10,000 Russian workers in Ukraine war fallout

IKEA is set to join a plethora of other majors brands who have stopped trading in Russia

Wales Online

Western Brands Divided Over 'Made in Myanmar' After Coup

Western retailers are increasingly divided over whether to buy clothes made in Myanmar, a country that had emerged as one of the world's fastest-growing garment exporters before the military staged a coup last year.

Bangkok Post

India’s Reliance Launches First In-house Premium Fashion Store

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 new store chain called Azorte, the first of which was launched in Bengaluru, will compete with…

Asharq Al-Awsat

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Asharq Al-Awsat

H&M Sales Miss as Retailer Struggles to Compete with Zara

H&M reported on Thursday lower-than-expected quarterly sales as shoppers tighten their belts with energy and food bills soaring and the world's second-biggest fashion retailer struggles to compete with rival Zara. Third-quarter net sales at the Swedish group were up 3% from a year earlier at 57.5 billion crowns ($5.4 billion),…

The Guardian - UK

Zara’s owner reports surging sales despite cost of living pressures

Europe’s largest clothing retailer Inditex said its profit for the six months to July soared by 41%

Asharq Al-Awsat

Zara Owner Inditex’s First-Half Sales Surge Ahead of Potential Slowdown

Fashion brand Zara's owner Inditex said on Wednesday that profit for the six months to July jumped by 41% and sales rose by around a quarter, putting it on a strong footing ahead of second half likely to see rampant inflation hitting demand for clothing. In the first set of…

Asharq Al-Awsat

From Fashion to Films - Ex-Zara Boss Isla Starts Production Company

Former chief executive of textile giant Inditex, Pablo Isla, has started his own film production company, saying in a statement on Friday that he hoped to use his "deep passion for film" and business experience to advance Spain's movie industry. Isla stepped down from the owner of the global fashion…

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The Guardian - UK

Massive queues in Moscow as shoppers take last chance to shop at H&M

Retailer halted operations in Russia after invasion of Ukraine but has reopened for limited time to sell remaining stock

The Guardian - UK

‘Brexit to blame’: UK shoppers pay up to 50% more than those in EU

From Zara to Ikea and Decathlon, stores charge more for same items, Guardian Money research finds

The Guardian - UK

Chris Xu: Who is Shein’s mysterious billionaire founder?

Very little is known about China’s king of fast fashion who has rapidly become one its richest men

Asharq Al-Awsat

Russia’s Wildberries Selling Zara Clothes Online despite Inditex Halting Operations

Russian e-commerce leader Wildberries is still selling clothes from Inditex brands that have suspended operations in the country, including the Spanish group's main Zara label. The TASS news agency reported on Tuesday that Zara items were being sold on Wildberries, which the Russian company confirmed. Inditex is one of many…

The Guardian - UK

Zara owner’s sales jump by 36% as shoppers return to high streets

Inditex experiences ‘significant rebound in traffic’ to stores that offsets 6% decline online

Asharq Al-Awsat

Zara Owner Inditex’s Quarterly Profit Jumps 80% on Post-COVID Wardrobe Renewals

Fashion giant Zara's owner Inditex reported on Wednesday its net profit in the February-April period jumped 80% to 760 million euros ($812.06 million), in line with analysts' expectations as sales surpassed pre-pandemic levels. Sales at the world's largest fast fashion retailer reached 6.7 billion euros, 36% more than a year…

Asharq Al-Awsat

Zara Owner Inditex Set to Benefit from Higher Prices

Fashion giant Zara's owner Inditex is expected to report bumper first-quarter earnings next week, benefiting from raising prices more than rivals without damaging its sales, analysts said. As a cost of living crisis intensifies across the region, Europe's retailers are facing a tricky balancing act between passing on rising supply…

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