Central Saint Martins graduating class presents FW24 collections at LFW

In Pictures


An AW24 look by Maximillian Raynor. Central Saint Martins MA show, London Fashion Week Credits: LAUNCHMETRICS/SPOTLIGHT



Last month, twenty one graduating students of the master programme in fashion design at Central Saint Martins College of Art and Design (CSM), University of the Arts London (UAL) presented their collections as part of the official schedule of London Fashion Week FW24.


Two students received awards for their graduate collections. Student Drhuv Bandil who specialises in womenswear won the L’Oréal Professionnel Creative Award for her collection entitled Awakening Kakanmath Kalavatis. The collection was inspired by the Kakanmath temple and other archaeological sites that can be found in the Indian countryside.


An AW24 womenswear look by Dhruv Bandil. Central Saint Martins MA show, London Fashion Week Credits: LAUNCHMETRICS/SPOTLIGHT



The Canada Goose Humannature award for responsible design went to graduating designer Gracey Owusu-Agyemang for her ‘Sonwerêld’ collection, inspired by Afrofuturism [viewed] “through the lens of agriculture”.


In addition, Owusu-Agyemang’s received the The British Fashion Council Foundation MA Final Year Scholarship for her graduate collection.


An AW24 look by Gracey Owusu-Agyemang. Central Saint Martins MA show, London Fashion Week Credits: LAUNCHMETRICS/SPOTLIGHT



View some of the other looks by Central Saint Martins’ 2024 graduating class below.


An AW24 womenswear look by Lovro Lukic. Central Saint Martins MA show, London Fashion Week Credits: LAUNCHMETRICS/SPOTLIGHT



An AW24 look by Maximillian Raynor. Central Saint Martins MA show, London Fashion Week. Credits: LAUNCHMETRICS/SPOTLIGHT


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Fashion designer Stephen Linard dies age of 64

A candel for Stephen Linard Credits: Pexels



London designer Stephen Linard has died at the age of 64. This was reported by Linard's family to WWD, who said he died on 10 March due to throat cancer. Linard designed clothes for big stars such as David Bowie, the members of U2 and Boy George in the 1980s.


Linard is considered a pioneer in creating different personas through clothes. Besides designing clothes, he was also creative with "hair, make-up and attitude," Stephen Jones, a friend of Linard's, told the media outlet. Linard was a strong influence on the style of Blitz Kids, a group of people who attended Blitz's Tuesday club night in Covent Garden in London in 1979-1980.


They are considered the founders of the 'New Romantic' movement, a subculture with a quirky style inspired by punk and glamour. "He was the first person who saw clothes as a 'story' - this was before John Galliano - and had a visual interpretation of fashion. It was the era of MTV, i-D and The Face and he was a stylist for those magazines," Jones added.


On social media, people reacted mournfully to the news of Linard's death. "I will never forget Stephen, [he had] a life dedicated to art," artist Brian Clarke responded under Stephen's most recent post on Instagram.


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CHIC Shanghai: Rising frequencies despite lack of international flair

Exterior view of the CHIC exhibition centre in Shanghai Credits: Ole Spötter for FashionUnited



The Chinese clothing industry is only slowly on the road to recovery. Instead of distant exports, the domestic market and neighbouring countries such as Russia and South Korea appear to be a high priority for many clothing suppliers. Western markets in North America and Europe are proving more difficult after the end of the pandemic, partly due to rising costs. This was also reflected in the current spring edition of the China International Fashion Fair (CHIC) in Shanghai, where new Chinese fashion and labour costs were hot topics.


The fair, which is particularly important for the Asian market and was held from 6 to 8 March together with the knitwear fair PH Value and in parallel with the fabric fair Intertextile and the yarn fair Yarn Expo at the National Exhibition and Convention Center in Shanghai, emphasised its international orientation. After all, this is also in the name of the trade fair, while it offers Chinese brands in particular the opportunity to "present themselves internationally", explained CHIC president Cheng Dapeng, who is also president of the China National Garment Association.


Fashion show area: 'CHIC SHOW' Credits: Ole Spötter for FashionUnited



(Inter)national fashion fair




There was little international flair at the second spring edition after the pandemic, as there was before 2019 with European pavilions from France and Germany. There was also little English to be heard in the aisles of the exhibition halls. The most important visiting countries included Russia, South Korea and Japan. The US made it to fifth place and the UK brought up the rear in the 'Top 10' of visitors. According to official figures from the trade fair, a total of around 158,000 visitors attended over the three days, around 10,000 more than in the first spring edition after the pandemic in March 2023. This was also noticeable among the exhibitors, who were pleased to see more footfall in all segments compared to pre-Covid. This was also confirmed by Mr Wang, business department manager of the jeans brand Yerad, which has been exhibiting at CHIC for 10 years and also welcomed international visitors from Russia, Pakistan and European markets over the three days.


Among the almost 1,300 exhibitors - around 200 more than at the previous edition last March - there was also a German brand on site. Studio Ayasse from Stuttgart normally presents its collections with a focus on leather and lambskin to buyers during the Düsseldorf Order Days in its own Munich showroom as part of the Supreme trade fair and in a showroom in Paris. Founder Tina Ayasse, who is currently based in the South Korean capital of Seoul, is now also attending CHIC for the first time and drew a positive conclusion. She was particularly struck by the "good organisation" compared to domestic formats. Nevertheless, she was also surprised at how little English was spoken. At least she had a member of staff on the stand for the Chinese visitors. For the rest, however, hand gestures and mobile phones also worked, as was proven during a customer dialogue with Ayasse after the conversation with FashionUnited, when she was alone at the stand.


Tina Ayasse of the German brand Studio Ayasse (right) talking to customers Credits: Ole Spötter for FashionUnited



Even if she couldn't quite tell from many of the conversations she had on the first day of the fair whether potential customers were really interested in her goods, the unique selling point of "Made in Germany", which applies to some of her lederhosen, is particularly important. Even the wholesale prices of between 280 and 360 euros for the pieces produced in Germany, which are significantly higher compared to Chinese suppliers, should not be a deterrent. She would therefore be happy to see a German pavilion or at least an area for European brands at a future edition.


However, the return of international brands is not solely in the hands of the trade fair organiser, explained Cheng. Many brands are said to have changed their marketing strategy and do not perceive CHIC as an international trade fair. The fair is open to both national and international exhibitors and hopes that the latter in particular will return in the coming editions.


Chinese brands in Europe




Meanwhile, at the request of its exhibiting brands, CHIC is trying to enter into international collaborations in order to boost its exports again or to reach western markets.


China's textile and clothing exports amounted to a volume of 293.6 billion dollars in 2023, according to official data published by the Chinese Ministry of Industry and Information Technology (MIIT) at the beginning of February. Compared to the previous year, exports fell by 8.1 percent. However, there was a slight upturn towards the end of the year. In December, Chinese textile and clothing exports rose by 2.6 percent to 25.3 billion US dollars compared to 2022.


At the last edition of the Who's Next trade fair in Paris, CHIC organised the "Fashion China" pavilion with 20 clothing suppliers, which will be offered again at the upcoming edition in September. In addition, a separate area entitled "Moda China in Italy" is planned for the upcoming edition of The One Milano trade fair in Milan. It is not yet known how many brands will be travelling to the Italian fashion metropolis.


However, it is clear that the menswear brand Solosali, which belongs to the Baoxiniao Group, wants to present its suits among its Italian competitors at the trade fair. The brand is also considering whether it should return to the Florentine menswear trade fair Pitti Uomo. However, according to Solosali CEO Zhangxi Qin, there are no specific plans as yet. The brand operates the only two shops outside of China on the Italian market. In the domestic market, there are around 200 stores, 10 percent of which are operated independently and 90 percent as franchises. In addition to Europe, Northern Europe and Russia are also currently on the expansion plan. A number of international customers were also present at CHIC, including an interested party from Canada.


Stand of menswear specialist Solosali at CHIC Credits: Ole Spötter for FashionUnited



Among the CHIC exhibitors in Paris was the May D. Wang brand, which was represented in Shanghai with two stands - one for cashmere and one for silk, because each material appeals to different customer groups and the Hong Kong brand can therefore more effectively present both collections with around 200 pieces each, explained brand director Desmond Chen.


May D. Wang is part of the clothing manufacturer HS Fashion, which also produces for brands such as the sustainability-orientated label Ecoalf, high-priced labels such as MaxMara and Stella McCartney, and the Inditex subsidiary Massimo Dutti. This results in a group turnover of around 300 million dollars. With exports to markets such as France and the UK, the company generates a turnover of around 200,000 dollars - just 5 percent comes from its own brand. It is therefore not surprising that the visitors were mainly operators of own-brand boutiques. Chen only welcomed a few international customers, including "important partners" from the Netherlands, Portugal and Russia.


Womenswear: tradition meets modernity




In addition to May D. Wang, Christopher Raxxy was also among the Chinese 'Who's Next' exhibitors. The brand, which is known for its use of Chinese craftsmanship such as braiding techniques and traditional art in combination with 3D technology for outerwear, attracted international attention due to its joint capsule with the Italian luxury brand Moncler last October. At CHIC, the brand presented a pastel-coloured and pattern-oriented stand, which was part of an area curated by Worth Global Style Network (WGSN). In this section, the New York trend agency presented brands based on US lifestyle trends.


Stand of Christopher Raxxy at CHIC Credits: Ole Spötter for FashionUnited



Overall, the combination of Chinese tradition and a modern, more western-orientated style seemed to be an important theme among CHIC womenswear. It ran through the different segments of the fair - young brands, designer brands and womenswear, which were located in different halls. In addition, there was also an area that focused exclusively on traditional garments.


The Saint Joy (Sungchin) brand also has a long tradition dating back to 1889 and has roots in Chinese brocade production from the Song Dynasty. This still plays a role today. It also gives traditional dresses, which are usually rather straight, a fitted cut and embroiders Chinese landscape paintings on blazers and skirts.


Chinese tradition meets modern cuts at Saint Joy at the Credits: Ole Spötter / FashionUnited



While the transition between the two worlds is still quite fluid at Saint Joy, other brands play more with the contrast, as could be seen at the SS24 fashion show by William Zhang. While light and flowing fabrics met velvet, glitter and sequins met traditional embroidery such as floral ornaments. Elements such as the asymmetrical fastening, which closed from the centre collar over the right side of the chest with traditional fabric button knots, are used on a short, transparent dress with frill details. Layering and styling also played an important role in Zhang's modern approach, with pieces such as a sheer, chunky top standing out under a straight-lined long waistcoat in pink. In general, the colour palette was broad - stronger tones such as blue, red and a velvety green were juxtaposed with beige, bronze and silver as well as a deep black. The result was a collection that is sure to make its mark on the catwalks of European fashion shows.


William Zhang SS24 show at CHIC Credits: Ole Spötter for FashionUnited



Less traditional styles were on show at the Gen Z-focused brands Youxu and Genzhadri, where the colour black played a particularly important role. Genzhadri presented a mix of sporty elegance and grunge this season, where spaghetti tops with mesh overlay were seen alongside knee-length pencil skirts, asymmetric and cropped blouses and tops with flared shoulders as well as casual suit trousers with a wide flare. The matching black mini bag and beret are styled to go with them - creating looks for the young generation from everyday life and the office to casual evening events. However, the brand is currently only focusing on the domestic market.


Styles for Gen Z by Genzhadri Credits: Ole Spötter for FashionUnited



Menswear: casual wear and sporty looks




Things also got a little more relaxed in menswear, with some exhibitors showing casual-orientated styles alongside classic suits, such as BXS Homme, which offers wholesale suits for 2000 to 3000 Chinese renminbi yuan (around 278 to 417 dollars), depending on the quality. The men's brand derives from the suit segment, but also wants to offer its customers aged between 20 and 50 more casual pieces. These are offered in two self-operated stores and five franchise outlets. In wholesale, the brand works with 80 percent of retailers in the menswear segment in the domestic market, explained brand manager Panliaoruo. However, it is also represented in markets such as the Netherlands, Poland and Russia. Overall, BXS Homme wants to expand more in Europe, Australia and North America.


Casual wear by BXS Homme Credits: Ole Spötter for FashionUnited



Meanwhile, Zou forgoes suits and focuses on casual looks with overshirts, hoodies, denim and playful prints such as a cat with sunglasses to appeal to customers aged between 25 and 30. The brand, which has 85 shops in Chinese shopping centres and works with more than 10 franchise partners, is one of the exceptions in this area.


However, this is set to change in the upcoming edition, as comfortable, functional casual wear is particularly popular, explains Hans Han. But business casual, fashionable sportswear and a move away from logomania towards personalised products are also among the trends in menswear, according to the head of the menswear area at CHIC.


Young consumers in particular are more and more interested in the actual design than in the big names of Western brands, which continue to play an important role, says Han. For the Chinese Gen Z, who buy directly from brands via apps such as the social media platform Tiktok and the up-and-coming sales platform Dewu, the name on the label is no longer so important. This also gives local brands and designers such as Ji Wanbo and Wang Yutao a chance to assert themselves against international competitors.


Lifestyle orientated outerwear




In line with consumer trends, there will be more young brands and designer brands as well as casual wear and sportswear in March 2025. Sports and outerwear will also share a separate area this season, where a handful of brands will be represented alongside producers and textile technology providers.


Lifestyle orientated looks and outerwear at Tittallon Credits: Ole Spötter for FashionUnited



One of the outerwear brands is Tittallon, which specialises in clothing for outdoor and skiing, but also offers a smaller line for everyday urban wear. The brand, founded in Hangzhou in 2008, is attending CHIC for the first time to present itself to a more fashion-orientated audience. If the brand was aiming for specialist retailers, it would have placed itself among the Chinese delegation of the Munich sportswear trade fair ISPO instead, explained sales manager Li Yuan. Tittallon generates up to 80 percent of its turnover, which has averaged 50 million Chinese renminbi yuan (around 6.4 million dollars) in the last two years, through skiwear, but would like to expand the casual outerwear segment. The focus is on the domestic market, where the brand operates four shops and works with 40 franchisees. However, it is also represented by around 45 wholesale partners in markets such as Russia and the Netherlands. Li would also like to see more brands come together in the outerwear sector in the coming season, as many of visitors to the stand were not looking for a brand, but for producers, he says.


The outerwear brand Merrycheng, which has already been able to win over local actors such as Jin Chen and Song Weilong as faces in the domestic market, has no concrete expansion plans to date. There is also already a connection to Germany: the relatively young brand sources the fabrics for its high-tech outdoor jackets, which cost 3,000 Chinese renminbi yuan (around 383 dollars), from the country. However, the outerwear has only been around since last year. It was created as a separate brand from the underwear label Miiow, which has more than 20 years of experience in textile technology and is now utilising this for Merrycheng.


Merrycheng products at CHIC. Credits: Ole Spötter for FashionUnited



Rising costs keep exporters busy




In addition to fashion-related topics, rising prices were also among the hottest discussions during the trade fair, even if not all exhibitors like to talk about it or deny it. For producers who export their goods, inflation and rising labour costs are having an impact on prices, as CHIC's head of menswear Han confirmed from conversations with his exhibitors.


At HS Fashion, production costs for the export market rose by up to 20 percent, while the associated brand May D. Wang saw an increase of 4 percent. Prices at menswear supplier Solosali were also adjusted by 10 percent this year due to inflation.


May D. Wang at CHIC Credits: Ole Spötter for FashionUnited



At Enjoysun, a Chinese producer of down jackets, rising raw material prices for the filling product have had an impact on prices, which have risen by between 20 and 50 percent depending on the length of the jacket, according to manager MinLi Li. Enjoysun's down jackets are currently priced between 355 and 655 Chinese renminbi yuan (45 to 84 dollars), which they offer primarily to brands in China, but also in Japan and Canada - 10 percent each - and South Korea - around 20 percent. According to Yerad, prices in the trousers segment have risen by around 30 percent since 2021 due to inflation. The jeans segment was particularly affected by this, where rising raw material and labour costs had an impact on prices last year. However, Wang was unable to provide more precise figures.


FashionUnited was invited to Shanghai by CHIC.


This article originally appeared on FashionUnited.DE. Translation and edit by: Rachel Douglass.


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Zumiez swings to Q4 loss

Zumiez Credits: Zumiez/Facebook



Zumiez net sales for the fourth quarter increased 0.6 percent to 281.8 million dollars, while the company reported a net loss of 33.5 million dollars or 1.73 dollars per share.


Net sales for the twelve months period decreased 8.6 percent to 875.5 million dollars and net loss was 62.6 million dollars or 3.25 dollars per share.


Commenting on the trading update, Rick Brooks, chief executive officer of Zumiez Inc., stated in a statement: “We concluded a difficult year with stronger than anticipated fourth quarter results as our consolidated monthly sales trend accelerated in January.”


First quarter-to-date sales decreased 3.1 percent and comparable sales for the four weeks decreased 6.2 percent. From a regional perspective, comparable sales for North America decreased 2.6 percent and other international comparable sales decreased 17.8 percent.


The company expects first quarter net sales to be in the range of 167 to 172 million dollars, earnings per share are expected to be between a loss of 1.09 dollars and a loss of 1.19 dollars.


“While we are encouraged by our stronger than anticipated fourth quarter and sustained quarterly improvements as we moved through the year, the global operating environment remains challenging and therefore we are further adjusting our strategies to balance the interests of our shareholders and customers,” added Brooks.


The company currently intends to open approximately 10 new stores in fiscal 2024, including up to three stores in North America, three stores in Europe and four stores in Australia.


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G-III Apparel posts Q4 revenue decline of 10.5 percent

DKNY.3 Digital Plaza Credits: DKNY



Fourth quarter net sales at G-III Apparel Group decreased 10.5 percent to 764.8 million dollars.


Net income for the quarter was 28.9 million dollars or 61 cents per diluted share, while non-GAAP net income per diluted share increased to 76 cents.


Commenting on the results, Morris Goldfarb, G-III’s chairman and CEO, said: “We delivered strong growth with DKNY, Karl Lagerfeld and Vilebrequin, increasing penetration of our higher margin, owned brands to 47 percent of fiscal 2024 net sales, up from 40 percent last year. Our diverse business model and disciplined operating approach has allowed us to further strengthen our credit profile as we ended the year in a net cash position, with over a billion dollars in liquidity.”


Net sales for the full fiscal year decreased 4 percent to 3.10 billion dollars. The company’s net income reached 176.2 million dollars or 3.75 dollars per diluted share and non-GAAP net income per diluted share rose to 4.04 dollars for the year.


For fiscal 2025, the company expects net sales of approximately 3.20 billion dollars and net income between 167 million dollars and 172 million dollars or between 3.50 dollars and 3.60 dollars per diluted share.


Non-GAAP net income is expected to be between 167 million dollars and 172 million dollars or between 3.50 dollars and 3.60 dollars per diluted share.


Full-year adjusted EBITDA for fiscal 2025 is expected to be between 290 million dollars and 295 million dollars.


For the first quarter, the company expects net sales of approximately 615 million dollars, net loss and non-GAAP net income is expected to be in the range of 5 million dollars and break-even, or loss of 10 cents and 0 cents per share.


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Samuel Ross appointed artistic director of London Design Biennale

Samuel Ross. Credits: Hublot



British designer Samuel Ross has been named artistic director of the London Design Biennale, a design and innovation festival that is being hosted in the English capital from June 5 to 29, 2025.


The event, which is to take place at Somerset House, will follow the theme ‘Surface Reflections’, exploring how ideas are “fuelled by both our internal experiences and external influences” and how revelations in life inform who we are.


In a release, Ross, who is the founder of A-Cold-Wall, said of the concept: “The elder and child versions of ourselves, in spirit, harvest experiences pooled from the same well.


“The time between each visit to the well does not distort the composition of the water. A different reflection, or means of extraction, may occur over time, due to the compound's characteristics. Generations of design-thinkers portray similar behaviours.”


As part of his contribution to the Biennale, Ross is to debut a series of new sculptural works in the courtyard of Somerset Hour, which will be exhibited over the event’s three-week duration.


In her own statement, director of the Biennale, Victoria Broackes, said: “2025 will be an important year for design in the UK. We are absolutely delighted to be working with Samuel Ross as artistic director for London Design Biennale fifth edition, combining his vision with creativity and innovation from all over the world.


“London Design Biennale 2025 will present an international showground for original and imaginative ideas, solutions and thrilling opportunities for enriching exchanges.”


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Harpar Grace names new global commercial director

Beauty


Harpar Grace International (HGI), the luxury skincare and wellness distributor, has appointed Nicola Bell as its new global commercial director.


Bell will be responsible for driving HGI’s commercial strategy on a global scale, identifying and capitalising on new business opportunities, fostering strategic partnerships, and enhancing customer relationships to accelerate growth and maximise value for clients.


Before joining HGI, Bell held key leadership roles at the International Institute for Active-Ageing (iiaa), Clinique, Nike, and Adidas, where she successfully led commercial teams, developed strategic initiatives, and delivered outstanding results in revenue generation and market expansion.


Alana Chalmers, chief executive of Harpar Grace International, said in a statement: "We are thrilled to welcome Nicola to our team. Her proven track record of driving commercial success and her deep understanding of the sector will be invaluable assets as we continue to innovate and grow our business globally."


Commenting on her new role, Bell added: "I am honoured to join Harpar Grace International at such an exciting time as the company accelerates its expansion into new markets and sectors. I am eager to collaborate with the talented team to harness our collective strengths and capitalise on emerging opportunities to deliver exceptional value to our clients and stakeholders.”


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Frame eyes expansion with new CEO of EMEA markets

Frame store at 94 Marylebone High Street, London Credits: Frame



Californian luxury fashion house Frame is pushing forward its expansion in Europe, the Middle East and Africa with the appointment of Thomas Lecoq as chief executive officer for its operations in the three regions.


Lecoq, who has more than 15 years of experience within the fashion industry, having held key positions at brands such as Ganni, Zimmerman, Vince, Marc Jacobs, and Giorgio Armani, has been brought on to drive Frame’s growth in the EMEA markets.


Frame adds that its strategy for the EMEA region is to more than double its revenue to 60 million US dollars within the next three years, which it expects to deliver through its own e-commerce platforms, physical retail locations, such as its two stores in London on Marylebone High Street and Draycott Avenue in South Kensington, as well as its concessions and wholesale.


Known for its denim, women’s ready-to-wear currently represents half of Frame’s worldwide sales, a significant increase from just 15 percent four years ago. In addition, the Californian brand men’s collection, introduced three years ago has seen “rapid growth,” and the label is confident it will achieve 100 million US dollars in global revenue in the foreseeable future.


Frame names Thomas Lecoq as CEO of EMEA markets




Thomas Lecoq, CEO of EMEA markets at Frame Credits: Frame



Nicolas Dreyfus, global chief executive of Frame, said in a statement: “Frame has extremely positive momentum; we have a product that stands out for its exceptional quality and design and our marketing strategies have effectively built a strong brand image, earning widespread recognition.


“With a significant presence in department stores globally and stores in the major US cities, with more to come, the brand is perfectly positioned to embark on an exciting new chapter to expand into diverse markets across Asia and EMEA.”


Dreyfus added: “The potential for growth in our men's line is particularly promising and our new elevated store concepts in Madison, Marylebone, and Georgetown are testament to our innovative approach to retail. All that's left is to activate our strategy to further solidify our market position and I really feel that we are on the cusp of something truly remarkable.”


Lecoq, CEO of EMEA markets, who will be based at the brand’s Paris office, added: “I am honoured to be joining the Frame team and be a part of the success they have built. I look forward to developing the brand’s vast potential and to growing our business further.”


Frame was founded in 2012 by Erik Torstensson and Jens Grede and has 15 stores in North America and two in London.


Frame store at 94 Marylebone High Street, London Credits: Frame


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Dior to present cruise collection in Scotland

Drummond Castle and Gardens in Scotland Credits: Katielee Arrowsmith @SWNS



French luxury fashion house Dior is heading to Scotland to present its cruise 2025 collection at Drummond Castle in Perthshire near Crieff, described as a “historic architectural treasure”.


The cruise show will take place on June 3, with the Renaissance-style gardens of the Scottish castle serving as the backdrop for Dior’s creative director Maria Grazia Chiuri’s creations.


In a short statement, Dior said that the location, was chosen as a “poetic invitation where past and future meet, celebrating the unique, powerful ties forged from the very beginnings of the House,” referring to founder Christian Dior’s autumn-winter 1947 collection, which included a look called Écosse, drawing inspiration from Scotland.


Other links to the country include staging a ball at the Gleneagles Hotel for the spring/summer 1955 collection.
The Dior cruise show has previously taken place in Mexico City, Seville, Spain, Athens, Greece and Marrakech, Morocco.


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GFA and PDS Venture launch new fashion funding programme

GFA and PDS Venture ‘Trailblazer Programme’ Credits: GFA and PDS Venture



Non-profit organisation Global Fashion Agenda (GFA) and PDS Venture, the innovation and investment arm of PDS Group, have launched a new funding programme aimed at scaling fashion innovation.


The new ‘Trailblazer Programme’ is looking to identify and support fashion’s “most promising” early-stage innovators working to accelerate the transformation of the fashion and textile industry with planet-positive solutions.


As part of the initiative, PDS Ventures will award one innovator a “significant investment” between 50,000 and 200,000 US dollars to accelerate the company’s growth and positive impact in the fashion industry. The specific amount will depend upon the winning company’s stage and status.


The winner will also receive commercial and operational support from PDS Group’s Positive Materials, a textile company and strategic research partner supporting the development and acceleration of low-impact textile innovation through collaboration between early-stage start-ups, supply chain partners and brands.


In addition, further scaling opportunities will be available through access to PDS Limited’s extensive global supply chain.


Pallak Seth, founder and executive vice chairman at PDS Limited, said in a statement: “We are incredibly proud to partner with the Global Fashion Agenda to establish the Trailblazer programme. There has never been a more urgent time than now for true industry support for climate-first innovators with, not only financial investment but most crucially, mentoring and support to unlock the scaling potential of early-stage innovators.


“At PDS Ventures we are committed to supporting young pioneering businesses and have had the privilege of working with some of the most exciting start-ups from their earliest days accelerating their mission to make a positive impact in the fashion industry.”


GFA and PDS Venture launch ‘Trailblazer Programme’ to scale fashion innovation




The ‘Trailblazer Programme’ is looking for early-stage innovators and solution providers addressing different challenges across the fashion value chain to apply for the programme before March 31. Applicants will be reviewed and shortlisted by a jury, featuring representatives from GFA, PDS Ventures, Massachusetts Institute of Technology (MIT), Ralph Lauren Corporation, Fashion For Good and H&M Group.


Eight shortlisted innovations will be enrolled in a group of Trailblazers, receiving feedback and investment pitch training from industry experts and PDS representatives.


Each shortlisted innovator will then pitch for a potential investment, with the winning Trailblazer being revealed at GFA’s Global Fashion Summit: Copenhagen Edition 2024, taking place from May 22 to 23 at the Copenhagen Concert Hall. All shortlisted Trailblazers will also showcase their businesses within an exhibit at the Summit to connect with other key industry stakeholders and potential investors.


Federica Marchionni, chief executive at Global Fashion Agenda, added: “Innovation is a fundamental component to transforming the current fashion system to one that benefits people and the planet. Yet, to truly achieve impact at scale, innovation and investment go hand-in-hand.


“In a time of significant economic challenges, it is more important than ever that the fashion ecosystem prioritises investment in early-stage solutions so that we can bring them to fruition and make them last. Through this programme and the support from PDS Ventures, GFA is striving to help innovation thrive.”


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Pura names new chief operating officer

Smart fragrance company Pura has named Patricia Coan as its new chief operating officer (COO) to support its continued growth and drive innovation in the industry.


Coan, previously Pura’s vice president of operations, will be responsible for the company’s end-to-end supply chain, including planning, sourcing, quality, and logistics.


The new appointment comes as Pura continues to expand its footprint and reflects its ongoing commitment to “providing cutting-edge products and exceptional customer experiences,” explained the company in a statement.


Coan has more than 25 years of experience and is an experienced supply chain professional with direct experience in almost every facet, from MRO purchasing, supplier quality/management, demand and supply planning, and MRP execution to inventory management.


In her previous role as vice president of operations at Pura, Coan was instrumental in enhancing processes, systems, and team dynamics within operations.


Pura was launched in 2018 and has quickly established itself as the number one smart home fragrance diffuser brand in the US. It has luxury partnerships and fragrance collaborations with Anthropologie, Capri Blue, and Nest New York.


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Zalando announces strategy to return to growth

Zalando headquarters Credits: Zalando SE



In 2023, Zalando’s GMV decreased 1.1 percent to 14.6 billion euros and revenue declined 1.9 percent to 10.1 billion euros.


Full-year adjusted EBIT rose to 350 million euros, resulting in an adjusted EBIT margin of 3.5 percent, up 1.7 percentage points from 2022.


The company has announced a strategy to build a pan-European fashion and lifestyle e-commerce ecosystem around two growth vectors: business-to-consumer (B2C) and business- to-business (B2B). Zalando aims for a CAGR rate of 5 to 10 percent for both GMV and revenue over the next five years and the outlook for adjusted EBIT as a percentage of revenue is 6 to 8 percent in 2028.


“Our ambition is to return to strong growth and continue our margin expansion, as reflected in our new mid-term guidance,” said Robert Gentz, co-CEO of Zalando.


“In B2C we will move beyond transactions by giving our 50 million customers across Europe even better quality experiences and products that fit their lifestyle and personalised content, inspiration and entertainment. In B2B, we will power the businesses of partners and merchants on and off Zalando, leveraging our unique logistics infrastructure, software and services,” Gentz added.


The share of partner business in the Fashion Store’s GMV increased by 2.8 percentage points to 39.2 percent and the share of items shipped by Zalando Fulfilment Solutions increased by 4 percentage points to 62 percent in the fourth quarter compared to the previous year.


Adjusted EBIT rose 25 percent to 183 million euros in the fourth quarter.


In 2024, Zalando plans to return to growth, further increase profitability and invest in future growth. The company expects GMV and revenue to grow 0 to 5 percent in 2024 compared with 2023 and expects adjusted EBIT to be between 380 million euros and 450 million euros.


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Zara-owner Inditex 2023 sales and profit jump

Zara store Credits: Zara



In 2023, Inditex sales grew 10.4 percent to reach 35.9 billion euros with positive development both in stores and online and in all geographical areas and concepts. Sales in constant currency grew 14.1 percent.


The company said that store and online sales in constant currency increased 11 percent between February 1 and March 11, 2024 versus the same period in 2023.


At current exchange rates, Inditex expects a 1.5 percent negative currency impact on sales in 2024 and projects a stable gross margin.


Commenting on the annual trading results, Oscar García Maceiras, the company’s CEO said: "Our teams have been able to take advantage of the opportunities to keep growing profitably. We are investing to drive future growth and continue to offer an attractive remuneration to shareholders".


In 2023, Inditex opened stores in 41 markets. During the year, Zara opened its first store in Cambodia.At the end of FY2023 Inditex operated 5,692 stores.


The company’s store sales grew 7.9 percent reflecting incremental footfall and increasing store productivity, while online sales also grew 16 percent to reach 9.1 billion euros.


Gross profit increased 11.9 percent to 20.8 billion euros, while gross margin reached 57.8 percent. EBITDA increased 13.9 percent to 9.9 billion euros and EBIT 23.4 percent to 6.8 billion euros. PBT increased 28.2 percent to 6.9 billion euros and net income increased 30.3 percent to 5.4 billion euros.


The company’s board of directors will propose to the AGM a dividend increase of 28 percent to 1.54 euros per share for FY2023, composed of an ordinary dividend of 1.04 euros and a bonus dividend of 0.50 euros per share.


Inditex has announced a two-year extraordinary investment programme focused on the expansion of the business, allocating 900 million euros per year to increase logistics capacities in each of the 2024 and 2025 financial years.


http://dlvr.it/T41xm6

What stars wore to the Vanity Fair Oscars Party

In Pictures


Sydney Sweeney in archival Marc Bouwer and Messika at Vanity Fair Oscars Party 2024. Credits: Messika.



While many Hollywood stars await the Oscars with great anticipation, namely to see who will snag one of the evening's prestigious awards, it is the fashion crowd that find a particular thrill in the evening's exclusive after parties, where dress codes are far less stringent and allow for more exploration in the wardrobe area. And none other ignites such fervour than Vanity Fair Oscars Party, which has garnered the notorious reputation of being the red carpet for statement-makers and head-turners.


It was no different this season, too. Stars showed up in their droves sporting everything from sultry silks to rigid sculptural bodices, straying far from the rather conventional approaches seen on the red carpet of the event's predecessor. Here are what just some of the attendees wore to the 2024 edition.


Emma Stone in Louis Vuitton




Emma Stone in Louis Vuitton. Credits: Louis Vuitton.



Emily Ratajkowski in Jacquemus and Messika




Emily Ratajkowski in Jacquemus and Messika. Credits: Messika.



Sydney Sweeney in Marc Bouwer and Messika




Sydney Sweeney in Marc Bouwer and Messika. Credits: Messika.



Salma Hayek-Pinault in Gucci




Salma Hayek-Pinault in Gucci. Credits: Gucci.



Hunter Schafer in Bottega Veneta




Hunter Schafer in Bottega Veneta. Credits: Bottega Veneta.



Rosie Huntington-Whiteley in Valentino




Rosie Huntington-Whiteley in Valentino. Credits: Valentino.



Kylie Minogue in Gucci




Kylie Minogue in Gucci. Credits: Gucci.



Kelly Rowland in Nina Ricci and Messika




Kelly Rowland in Nina Ricci and Messika. Credits: Messika.



Cynthia Erivo in Louis Vuitton




Cynthia Erivo in Louis Vuitton. Credits: Louis Vuitton.



Yara Shahidi in Gucci




Yara Shahidi in Gucci. Credits: Gucci.



Kerry Washington in Giambattista Valli and Messika




Kerry Washington in Giambattista Valli and Messika. Credits: Messika.



Adwoa Aboah in Marni




Adwoa Aboah in Marni. Credits: Marni.



Olivia Munn in Fendi




Olivia Munn in Fendi. Credits: Fendi.



Nina Dobrev in Messika




Nina Dobrev in Messika. Credits: Messika.



Phoebe Dynevor in Louis Vuitton




Phoebe Dynevor in Louis Vuitton. Credits: Louis Vuitton.



Serena Williams in Off-White and Messika




Serena Williams in Off-White and Messika. Credits: Messika.



Haim in Louis Vuitton




Haim in Louis Vuitton. Credits: Louis Vuitton.



Anitta in Fendi




Anitta in Fendi. Credits: Fendi.



Adult Akech in Valentino




Adult Akech in Valentino. Credits: Valentino.



Louisa Jacobson in Louis Vuitton




Louisa Jacobson in Louis Vuitton. Credits: Louis Vuitton.



Lupita Nyong'o in Giorgio Armani Prive




Lupita Nyong'o in Giorgio Armani Prive. Credits: Giorgio Armani.



Hannah Einbinder in Louis Vuitton




Hannah Einbinder in Louis Vuitton. Credits: Louis Vuitton.


Read more from awards' season:



* Hollywood returns: Glitter, glam and rejuvenated suits, a look at the Golden Globes red carpet






* A new formal among classics: Trends that stood out at the Critics Choice Awards






* 75th Emmy Awards: Bold colours and sculptural gowns continue to dominate red carpet trends






* Glamour goths and shrunken suits: Stars stun at the 66th annual Grammy Awards






* Sculptures, sleeves and swanky suits: What stars wore to the 77th BAFTA Film Awards






* From maximalism to LBDs: What reigned on the People’s Choice Awards blue carpet






* From Cerulean to Couture: The best fashion moments from the 2024 SAG Awards






* Thigh-high slits to bold bustiers: Everything worn on the Brit Awards red carpet






* 96th Academy Awards: Hair-raising straps, flared tailoring and definitive peplums ruled the red carpet


http://dlvr.it/T3wg7V

Next and HMV’s Doug Putman among interested parties for The Body Shop

The Body Shop Bond Street store Credits: The Body Shop



British retailer Next and the owner of music retailer HMV are reportedly among those eyeing a possible takeover of struggling cosmetics chain The Body Shop.


Next is understood to have approached administrators to the retailer, FRP Advisory, regarding a possible sale of assets, according to sources for Sky News.


Meanwhile, though HMV’s Doug Putman has not yet put a formal offer on the table for the collapsed firm, he is believed to have registered his interest, according to The Telegraph.


Over the past month, The Body Shop has seen a number of its international subsidiaries succumb to bankruptcy, starting with its UK chain that was quickly followed by administration filings in Germany, Belgium and Ireland.


The latest news, however, is that the company has now also filed for Chapter 7 insolvency in the US, where it has ceased trading in its 50 outlets, and Canada too, with 33 of its 105 shops reportedly now closed.


This is according to the Guardian, which further stated that the company had also been struggling to pay suppliers in Australia where it is understood that its access to funds had been cut off.

Read more:



* The Body Shop to shutter 75 UK stores, almost 800 jobs to be lost






* Body Shop suppliers left with 1 million dollars of unsold ingredients






* The Body Shop to reportedly offload portion of European and Asian operations


http://dlvr.it/T3wGFg

Comprehensive reporting on sustainability is or will become mandatory: Here's what you need to know about the Corporate Sustainability Reporting Directive (CSRD)

Image illustrating the Corporate Sustainability Reporting Directive (CSRD). This image was made using an artificial intelligence (AI) tool. Credits: FashionUnited



“Traditionally, financial reports have been the main focus of corporate reporting,” explains fashion professional Melissa Wijngaarden.




Many companies compile annual reports that recount their activities over the last year. An integral part of this report is the financial statements, which summarize the company's financial situation. This allows companies to assess how they are doing, make strategic decisions, and ensure they comply with tax returns.


Financial transparency is mandatory for publicly traded companies. Financial information helps the public and investors who can buy and sell shares ("owned pieces of the company") understand how well the company is performing and how financially sound it is.


Listed companies are usually big brand names, for example, major fashion players LVMH, the French company that owns luxury brands Louis Vuitton and Christian Dior; the H&M Group; Inditex, the parent company of fashion giant Zara and PVH Corp, owner of Tommy Hilfiger and Calvin Klein.



Wijngaarden is the co-founder of Impactbytes, a company that specializes in ensuring information concerning a garment's sustainability credentials is visible.




Melissa Wijngaarden is also the co-founder of Project Cece (2019), an online shopping search engine for consumers featuring greener clothing from two hundred fashion brands.



Impactbytes is a sister organization of Project Cece. It is a Software as a Service (SaaS) platform that’s geared towards businesses.



"Impactbytes arose due to the greater challenge facing the sector. Namely identifying the sustainability credentials of products," says Wijngaarden. These are the 'references' that show how environmentally friendly and socially responsible a product is. Different materials are used in fashion collections, and different processing methods are used. Sometimes, there are quality marks that say something about sustainability or animal welfare, for example. "The problem is that every brand talks about its sustainability efforts in a different way, and there are no hard and fast rules about how to share this information," explains Wijngaarden.


Impactbytes helps online stores, platforms, and search engines with this challenge. The company acts as somewhat of a sustainability data provider. The company's customers include the online store Utopia, the online search engine Ecosia ('they call themselves the sustainable Google'), and sustainable clothing brands Mud Jeans and Kings of Indigo.


On its website, Impactbytes writes about the CSRD, among other things. "First, there was talk that the CSRD would also apply to all small and medium-sized businesses," says Wijngaarden, "so our customers also came to us with questions about the legislation." (More about the current scope of the CSRD later,ed.).


Sustainability data at product level from ImpactbytesCredits: Impactbytes



Melissa Wijngaarden, co-founder Impactbytes and Project CeceCredits: Property of Impactbytes










But this has changed. The Corporate Sustainability Reporting Directive (CSRD) requires brands and large companies to provide detailed information about their non-financial performance and, more specifically, sustainability aspects.


The CSRD will apply to approximately 52,000 companies in Europe and will be introduced in phases.


The first group that must comply with the 'Reporting Directive' are organizations of public interest with more than 500 employees,


Public interest organizations are companies or institutions that are very important to society and the economy, such as banks or large companies,



says Fleur van de Heuvel-Meerman, Senior Policy Advisor International CSR at the SER, the second expert we spoke to about the subject.




The SER, short for the Social and Economic Council, is the most important advisory body of the Dutch government. The organization plays an important role in formulating policy and guidelines, including the field of international corporate social responsibility.


Meerman is involved in the Corporate Sustainability Reporting Directive. She has worked with her colleagues on the practical implementation of this mandatory sustainability reporting,
with the SER actively providing advice and information.



In addition to providing advice, the SER also plays a role in the execution and implementation of sector-specific RBC (International Responsible Business Conduct) agreements: collaborations between the government, businesses, trade unions, and civil society organizations aimed at achieving impact in international supply chains.



Furthermore, Meerman also serves on the open source database Open Supply Hub board. It is a supply chain data platform that anyone can search and contribute to for free. It shows production locations across the world and who is connected to them, making that data easy for anyone to work with. For example, information is provided on factories and which NGOs or organizations are active there. The goal is to increase the transparency of production locations and supply chains worldwide to promote sustainability.






Next year (in 2025), these companies must submit a sustainability report for the year 2024.


"These public interest organizations are already used to reporting on figures and other matters," says Meerman. "Since 2016, the EU Non-Financial Reporting Directive (NFRD) requires them to report on environmental performance, social responsibility, and how the organization is managed with regard to sustainability issues. "The CSRD expands these requirements and introduces stricter reporting standards," said Meerman. (And the scope of the CSRD is larger than the NFRD, but more about that in a moment, editor's note.)




The official term for this is ESG, short for Environment, Social (social and societal aspects), and Governance (board management).








What does the CSRD exactly require from companies? What does the CSRD entail? What are the main aspects of the CSRD?




The CSRD requires brands and companies to report in detail on their impact on people and the environment and how they are governed with regard to sustainability. "This must be done for the short (1 year), medium (5 years), and long term (5> years) and concerns both actual and potential impact," says Meerman.


In addition, companies must also explain how their business strategy, policy, and processes for managing risks related to sustainability are structured, including what they want to achieve in the field of sustainability, the SER advisor emphasizes.


“In the fashion industry, for example, there are companies that produce jeans in Bangladesh. It could very well be that they significantly impact people and the environment," illustrates Meerman. In Bangladesh people generally work under poor working conditions for low wages. Legislation in the country is not always enforced, and 'bribery and corruption commonly occur.' She gives an example to illustrate further her point: "The production waste might also be directly released into the surrounding water, contaminating the local population's drinking water."



"The CSRD also states that as a company, you must explain what climate plan you have in place to meet the Paris Climate Goals," says Meerman.



Double materiality is a very important aspect of new EU law: mandatory sustainability reporting works both ways




The CSRD also introduces the concept of double materiality. It means that companies must evaluate and detail their external impact on society and the environment and identify how sustainability issues and societal trends may or will affect their business. (read: their own operations or supply chain).


“Climate change is an example of the impact of sustainability on an organization,” says Meerman. “Due to global warming, Pakistan was faced with heavy rains for three months in 2022. That caused devastating floods. If you do business with a factory in Pakistan, floods can have major consequences for your business operations.”


Affected stakeholders should be involved in the double materiality analysis




“It is good to know that the CSRD requires reporting on the impact on people and the environment, and the European Sustainability Reporting Standards (ESRS) provides guidance on what needs to be reported,” says the SER policy advisor. These standards, including sector-specific aspects for textiles for example, are still being developed.


"The first set of ESRS standards have around 1200 data points," says Meerman. It does not mean a brand or company must report on all those data points. An organization must determine which economic, environmental, social and governance issues are material to its operations and stakeholders. To this end, companies will conduct a double materiality analysis, as the difficult term is called. This process helps companies prioritize and focus on the issues most important to their sustainability performance and risk management.


"When conducting a double materiality analysis, 'affected stakeholders' should be involved," emphasizes Meerman. "These are people who are directly influenced by the organization's activities. These are often employees or people in the supply chain, but you can also think of silent stakeholders in the field of the environment," explains Meerman. For example, people who live near a factory and have to deal with contaminated drinking water are considered to be 'affected stakeholders.'


By involving these stakeholders, a brand or company will arrive at a thorough and fair materiality analysis. It will improve current sustainability reporting, and the engagement can also achieve bigger matters, such as advancing the company's current sustainability efforts.


How exactly should the CSRD be reported? How should it ultimately be submitted, and who will approve the mandatory sustainability reporting? How and by whom will that Reporting Directive be assessed?




As described above, through the CSRD and ESRS, brands and companies will report uniformly, explains Wijngaarden.


"If you want to know how a clothing brand like Nike or Adidas deals with 'living wage', then it should be very easy to find because all reports are structured in the same way," point out the policy advisor from the SER. "Currently, finding specific details in companies' self-published CSR reports often requires using the search function." At times, certain matters or issues are missing in those reports. The CSRD will ensure complete and reliable sustainability information. "And thereby provide transparency," says Meerman.


The sustainability report will ultimately be a separate appendix to the management report, explains Meerman. "An external party must approve it." The audit is likely to be conducted by accountants, the same professionals who currently evaluate the financial reports, believes Wijngaarden.


"However, the SER advisor emphasizes: "The fact that stakeholders can also observe and hold companies accountable for their sustainability efforts will have a greater effect than this required independent assessment."


How easy or difficult will it actually be for companies to comply with the CSRD in the future?




To come up with such an analysis and report, companies must first gather all the necessary information.


"Some companies opt to set up internal teams for the CSRD," explains Wijngaarden, "but there are also other companies or consultants that can assist them with this."


“All this (setting up to comply with the CSRD directive, editor's note) takes time,” explains Wijngaarden. “The larger the company, the more complex the task.”


Because knowledge is needed from various departments, such as HR, procurement, sourcing, finance, etc., lists Meerman. The CSRD requires collaboration between people from these different departments, which will lead to enhanced connectivity. "Moreover, the CSRD demands attention to sustainability from top management," continues Meerman, "which will lead a company to take action (towards sustainability, editor's note) more quickly."


Because while the CSRD is primarily a reporting standard, the law aims to create an impact in the supply chains. "So that insight is gained, and systematic problems can be addressed. And ultimately, companies are held accountable."


For that, by the way, more laws and regulations are on the way. Like the Corporate Sustainability Due Diligence Directive (CSDDD, pronounced ‘C S triple D’) that’s forthcoming. This Due Diligence directive will soon require companies to address malpractices related to environmental and human rights violations in the supply chain.






The latest news is that the CSDDD is on shaky ground: there is no agreement yet. Germany, Italy, France, Finland, and Austria did not accept the current draft of the law. The text of the draft needs to be revised, and the involved parties must return to the negotiation table. The new negotiations must be concluded before half March to get the proposal through quickly; otherwise, it may face months or even years of delays.

[Source: FashionUnited.nl article 'Due diligence law seems further away than ever: Several EU member states are bothered' [in Dutch], from February 28, 2024]




The CSRD, just like the CSDDD, is part of the European Green Deal. “It's actually an entire package of measures aimed at making Europe's economy more sustainable,” explains Meerman.




The CSRD is part of a larger network of legislation and international standards Credits: Credits: This infographic is owned by SER, placed here with permission.

Wijngaarden puts it this way: "The Green Deal simply demands more accountability and transparency from companies."




Last but not least: Which companies will the CSRD apply to next? Are there companies that don't need to do anything yet?




The second group for whom the sustainability reporting obligation starts, the large enterprises, includes family-owned businesses, explains Meerman.


“For large enterprises, the CSRD scope has just been adjusted,” says the policy advisor. A company is considered large if it meets two of the following three criteria: 25 million euros in balance sheet total ('total assets'), 50 million euros in (net) turnover, and 250 employees.


"The law is most novel and exciting for this group," asserts Meerman, simply because there was no reporting obligation before. Many of these enterprises are engaged in sustainability and measuring operational impact, but it often happens 'that nothing is put on paper.'


Large enterprises must report on the (fiscal year) 2025. “An example is the family-owned business Zeeman. They must issue a report in line with the CSRD for the first time in 2026.”


And what about SMEs?


Listed SMEs are required to report by 2026.

Non-listed SME businesses are outside the scope.


But that doesn't mean they have nothing to do. The CSRD also has an indirect effect. Many SMEs are part of the supply chain of large organizations. "For example, if you are a small fashion brand or wholesaler supplying to a large department store or multibrand retailer," as Henk Hofstede, Sector Banker Retail at ABN Amro, previously illustrated to FashionUnited.nl.


"And that means that small and medium-sized enterprises will have to start providing information to their customers: the larger enterprises to which the CSRD applies," emphasizes Meerman. "That's why it's advisable for them to set up a system now to collect data on how they affect people, climate, and the environment, and how these factors can influence their business operations."




"Currently, two new, simplified standards are being developed specifically for small and medium-sized enterprises," shares Meerman. These standards are intended to make it easier and more appropriate for these businesses to provide sustainability information when requested. “Moreover, they are designed to support SMEs in their role in promoting and advancing a more sustainable economy.”




Meerman also mentions that it's 'not impossible' for the CSRD to be further expanded to include SMEs in the future since, as you now know, much of the sustainability information comes from supply chains, where the most significant impact can be made. "Take the production of denim jeans, for example. If you want to reduce CO2 emissions, it can't be done from the headquarters - it must be addressed along the supply chain. Consider the factories where fabrics are dyed or jeans are washed and faded to give them their characteristic look," says Meerman.




Image used to illustrate emerging laws, regulations, and guidelines regarding sustainability. Created using an artificial intelligence (AI) tool Credits: FashionUnited.






It's important to know that the CSRD legislation is still being updated. Additionally, not all aspects of the directive have been determined.


Official documents on the Corporate Sustainability Reporting Directive and the latest information on the European Sustainability Reporting Standards can be found on the EU legislation website.


The SER has a special page dedicated to the topic 'CSRD: EU Sustainability Reporting,' available under the 'themes' > 'sustainability' section, available in English. In this section, you can watch webinars on the new legislation and find a comprehensive FAQ document on the CSRD, which is regularly updated. You can also submit additional questions about the reporting obligation for the organization to answer.


Image of the EU Green Deal. Description: A poster of the EU Green Deal hung in a window by the European Square in Zagreb, Croatia, on September 16, 2021. Credits: Photo by Jakub Porzycki / NurPhoto / NurPhoto via AFP




IN SHORT:




Scope CSRD:

2024: Companies currently obligated to comply with the Non-Financial Reporting Directive (NFRD). These are primarily large, listed companies with 500 employees or more. They need to report on the 2024 financial year with reports published in 2025. Therefore, they should be collecting data now.


2025: Large unlisted companies will be the next group affected. They will need to publish their report on the financial year 2025 in 2026. Family owned business like Zeeman will fall under this scope.


2026: Listed small and medium enterprises (SMEs) come into focus. They must publish their report on the financial year 2026 in 2027.


2028: Certain non-EU companies will be the next in scope. They must publish their report on the financial year 2028 in 2029.


Warning: SME's can also be affected by the CSRD indirectly because of their clients who fall within scope.



Sources:

- Interview with Melissa Wijngaarden, co-founder of Impactbytes and Project Cece, on January 25, 2024,

- Interview with Fleur van de Heuvel-Meerman, Senior Policy Officer for International CSR at the SER and board member of Open Supply Hub, on January 29, 2024,

- FashionUnited article ' Experts on entrepreneurship in 2024 and key themes for fashion and retail' from January 13, 2024

- Parts of this article text were generated by an artificial intelligence (AI) tool and then edited

- European Commission website 'Corporate sustainability reporting'

- European Commission annex 'European Sustainability Reporting Standards (ESRS) from July 31, 2023.

Related reads:


* How (not) sustainable is the fashion industry?

* Everything about the (traditional) supply chain and the core players of fashion industry

* The hidden costs of our purchases: True Pricing and the road to fairer price


* The Digital Product Passport and the revolution of data sharing in sustainable fashion


http://dlvr.it/T3vs95

Matches is for sale a second time in three months

Matches in London Credits: Shaun James Cox / Matches



Administrators are actively seeking a buyer for troubled retailer Matches, which recently faced an abrupt closure under the new ownership of Frasers Group. While the brand will continue its operations through its website and three London stores during the search for potential buyers, administrators from Teneo Financial Advisory Ltd. confirmed the immediate layoff of 273 employees, impacting the head office in London, reported WWD. The remaining staff on the shop floor and online will continue their roles while the search for a buyer progresses.


Matches experienced a decline in demand over the past year, attributed to well-known pressures on discretionary spending influenced by high inflation and interest rates. Despite additional funding after Frasers' acquisition in December 2023, trading failed to improve, prompting the company's directors to place it into administration. Talks regarding deals or final payment terms with vendors have not commenced yet, reported WWD.


One potential buyer may be Next plc, known for its strong clothing, accessories, and home business. The company has a reputation for acquiring distressed assets but like Frasers Group has little experience with luxury.


Frasers initiated the administration process two months after acquiring Matches for 52 million pounds from Apax Partners. Matches' fiscal year ending January 31, 2023, saw its sales fall 1.7 percent to 380.1 million pounds, with losses nearly doubling from 39.8 million pounds to 70.9 million pounds.


http://dlvr.it/T3vTv3

Golden Goose posts surge in annual revenue and profit

Golden Goose Forward store, Milan Credits: Golden Goose



Golden Goose Group net revenues of 587 million euros for FY23, grew 18 percent at constant exchange versus FY22.


Adjusted EBITDA of 200 million euros, increased 19 percent and adjusted EBIT of 149 million euros, rose 22 percent.


Commenting on the annual trading, Silvio Campara, chief executive officer, Golden Goose Group, said in a statement: “Our strong performance in 2023 – growing double digits against a challenging macroeconomic backdrop – once again demonstrates the power of our brand and the value of our people who are essential to building our long-term and sustainable vision.”


The company reported growth across all regions, driven by the development of the DTC channel. Golden Goose opened 21 new stores, with the total store network reaching 191 at the end of 2023.


The company also opened two new Forward Stores: one in Miami, the second in the U.S., and one in Paris, the second in Europe. At the end of 2023, Golden Goose had five Forward Stores globally.


The company said that the Forward Store format offers a wide range of services from repair, remake, resell to recycle, conceived to promote circularity, lengthen, and manage products’ lifecycle, giving new life to pre-owned products from any brand and reducing the environmental impact.


Golden Goose acquired the remaining 70 percent stake in one of its footwear suppliers, Sirio, following the acquisition of a minority stake of 30 percent in 2022. Together with the acquisition of the Italian fashion team, this enables Golden Goose to internalise approximately 50 percent of its annual footwear production.


The company also launched the Yatay Lab in Erba, Como, Italy, a co-action platform committed to the research and development of circular materials and products that seek to be scalable and sharable. This Lab, the company added, is an evolution of the partnership born in 2022, between Golden Goose, and Coronet Group, for the research and production of low-impact materials.


http://dlvr.it/T3vBNR