Fashion
Vestiaire Collective adds Ganni to Resale as a Service programme
Published
October 23, 2025
Vestiaire Collective has added a new partnership to its resale service, linking up with Copenhagen-based Ganni to introduce “a dedicated service that empowers the Ganni community to give their pre-loved pieces a new story”.
Ganni is well known for its circularity/sustainability initiatives so it’s unsurprising that it has decided to partner with one of the biggest names in resale.
It means customers can now submit their Ganni pieces directly through Vestiaire Collective’s platform. Once items are reviewed and accepted, sellers are “instantly rewarded” with a Ganni gift card, topped up by the brand with an additional 10%, “eliminating the need to wait for their item to sell”.
The link-up is the 13th addition to Vestiaire Collective’s Resale as a Service programme that launched in 2021 in response to increasing demand from luxury and designer brands seeking to integrate circularity into their business models.
The company said it “creates a win-win ecosystem: brands and retailers can offer their customers a circular alternative to sell back unwanted items—typically in exchange for store credit—while strengthening customer loyalty and relationships”.
These partnerships also provide Vestiaire Collective’s members access to “authentic, high-quality supply from top trending fashion brands, enriching the platform’s curated selection”.
The reseller currently has deals with Chloé, Burberry, Isabel Marant, MyTheresa, and LuisaViaRoma, among others.
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Malaysia’s textile imports grew 9.41 per cent year-on-year to $768.040 million in January–August 2025, with volumes also rising, signalling stronger raw-material demand from downstream manufacturers.
Higher imports across fibre, fabric and yarn reflect a gradual supply-chain rebound, deeper ASEAN sourcing links, and Malaysia’s reliance on imported inputs due to limited domestic capacity.
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By
Reuters
Published
December 10, 2025
Private equity firm CVC Capital Partners is seeking a sale of FineToday Holdings, the Japanese personal-care company behind the Tsubaki shampoo brand, after shelving plans to list it in Tokyo, said four sources with knowledge of the matter.
FineToday, which counts China as its second-biggest market, postponed its Tokyo Stock Exchange initial public offering (IPO) in October, citing market conditions, according to a company statement. FineToday was expected to debut with a market capitalisation of about 169 billion yen ($1.08 billion) in the postponed IPO. The company had previously targeted roughly 219 billion yen in a 2024 attempt to go public.
Both valuation outcomes fell short of CVC’s internal expectations, two of the sources said. One of the sources said CVC is now seeking a valuation of over $2 billion, or around 14–15 times earnings before interest, taxes, depreciation and amortisation (EBITDA), for FineToday.
Interest has emerged from global buyout firms and at least one Chinese strategic investor, one of the sources added, but declined to name any of the interested parties. All the sources declined to be identified as the information is confidential.
CVC and FineToday declined to comment on Wednesday.
The planned sale comes amid renewed strains in Japan–China relations. FineToday noted in its latest preliminary offering document that sales in China and Hong Kong were hit by a consumer backlash against Japanese brands after Japan released treated water from the Fukushima nuclear plant in 2023, and warned that it remains exposed to any future geopolitical tensions.
FineToday was created in 2021 after Shiseido Co carved out its personal-care unit and sold it to CVC in a 160 billion yen deal. The Tokyo-based company manufactures and markets haircare, skincare and deodorant products under brands including Tsubaki, Fino, Senka, Uno, Ag Deo24 and Kuyura, according to its official website and IPO filing.
About half of its sales come from overseas markets, with China a key market. In the six months ended June 30, 2025, 35.9% of revenue came from China and Hong Kong, while Japan contributed 44.3%, the filing showed.
FineToday posted 107.3 billion yen ($688.66 million) revenue in 2024 and 56.6 billion yen in the first half of 2025, with an adjusted EBITDA margin improving to 21.0% from 15.5% a year earlier, according to the filing.
© Thomson Reuters 2025 All rights reserved.
Published
December 10, 2025
Ann Summers has filed its accounts to the end of June 2025 and it’s certainly encouraging to see that the lingerie specialist — which has struggled in recent periods — looks to be heading towards a recovery despite still posting losses.
The company said that its 2024/25 financial year was one of “resilience and strategic adaptation”.
Turnover was “stable”, although it actually increased slightly but not enough to make up for the impact of inflation. It rose to £93.4 million from £93 million, although the cost of sales also edged up slightly.
The business remained loss-making, as mentioned, but the operating loss before tax and exceptional expenses narrowed to £5 million from £9.8 million a year earlier. The loss on ordinary activities before tax, as well as the net loss, showed an even greater decline at £3 million compared to £13 million12 months before.
So what happened in the 12-month period? Against the backdrop of persistent economic uncertainty, rising inflation and the ongoing cost of living crisis, Ann Summers said it managed to overcome major retail headwinds.
Trading conditions stayed tough with discretionary spend under pressure but it optimised its store estate while maintaining a strong presence physically with 75 locations. It also continued its expansion through third-party partnerships including its collaboration with LIWA, which has opened new opportunities in the Middle East
Its web channel remained a key part of its omnichannel strategy for both the UK and abroad. But during the year it made the strategic decision to close Connect, its direct selling channel. That ceased trading after the financial year ended, in October 2025.
A milestone was the launch of knickerbox.com in July 2024, so that came right at the start of the financial year in question. That brand is well known so should be a source of future growth.
Alongside the launch it also introduced KBX, its new in-house brand that claims to offer “stylish, effortlessly sexy, everyday lingerie”. The company said this strategic move allows it to connect with the border audience and strengthen its digital presence.
The company hasn’t posted a profit since the year to June 2021 and its losses have added up to £40 million since then. But this latest set of numbers, along with the new developments and strategic closures, suggests that the picture could change soon.
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