Fashion
Esprit reports 75% sales drop, shifts focus to licensing

Translated by
Nazia BIBI KEENOO
Published
August 29, 2025
Esprit is now operating primarily as a licensor. Still, management hopes its licensing business will begin generating stronger revenue going forward. Without that growth, the insolvent holding company—under which the brand’s wholesale and e-commerce operations in Europe, Hong Kong, and North America are grouped—may continue to struggle.
In the first six months of 2025, Esprit reported sales from continuing operations of approximately HKD 6.59 million (about €724,000), down 75% from HKD 26.1 million during the same period in 2024.
The decline is mainly attributed to the loss of license income from European trademark rights, which were derecognized in 2024 following insolvency proceedings for the group’s German subsidiaries. The company posted a net loss of HKD 20.8 million, compared to a profit of HKD 9.1 million in the same period last year.
Discontinued operations, however, resulted in a profit of HKD 22.1 million for the period, which contributed to a modest net profit of HKD 1.3 million attributable to shareholders. As of June 30, the holding company employed just 38 people, down from over 500 the year prior.
Despite these setbacks, management intends to continue operations and is shifting its focus toward an “asset-light,” license-driven brand strategy. The model aims to reduce the significant costs tied to procurement, distribution, and retail operations.
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Fashion
Astrid & Miyu expands US footprint with new NYC store

Published
October 19, 2025
British jewelry brand Astrid & Miyu is strengthening its foothold in the United States with the launch of a new store on New York City’s Madison Avenue opening Monday.
The new 1134 Madison Avenue boutique follows Astrid & Miyu’s signature London aesthetic — inviting and inclusive — designed as a space for self-expression and connection. Customers can explore in-house jewelry collections, personalize their pieces, and experience the brand’s signature piercings, tattoo and welding services in an intimate, Instagram-worthy setting.
“Opening our second U.S. location on Madison Avenue feels like a natural expansion for us. We’ve always been passionate about creating beautiful spaces that go beyond jewelry — places where our community can come together, express themselves, and feel at home,” said Connie Nam, founder of Astrid & Miyu. “New York has embraced us in such a remarkable way, and we’re so excited to continue growing with our customers here.”
Following the success of its U.S. debut in the West Village, the expansion marks a major milestone in the brand’s international growth and ongoing mission to build meaningful communities through experiential retail.
Looking ahead, the brand plans to expand further across the U.S., with its first Los Angeles location set to open early next year.
Founded in 2012, Astrid & Miyu began in a Notting Hill flat with the goal of reimagining how people experience jewelry. Over the past decade, the London-based brand has become a global favorite for its stackable, minimalist designs and purpose-driven ethos.
Copyright © 2025 FashionNetwork.com All rights reserved.
Fashion
Kering in talks to sell beauty unit for $4 billion

By
Bloomberg
Published
October 19, 2025
Kering SA is in talks to sell its beauty business to L’Oréal SA in a deal worth about $4 billion, according to the Wall Street Journal.
The deal could be announced as soon as next week, the newspaper added, citing people familiar with the matter.
The potential sale comes as Kering’s new Chief Executive Luca de Meo seeks to turn around the luxury house’s fortunes, following a slump in Chinese demand and the threat of higher US tariffs.
The owner of fashion brands including Gucci, Bottega Veneta, Saint Laurent and Balenciaga launched its beauty division in 2023. The company declined to comment on the report when contacted by Bloomberg News.
L’Oréal offers a range of beauty products, including L’Oréal, Garnier and Maybelline New York, and the deal could add cologne maker Creed to the mix.
Fashion
Egypt’s apparel exports rise 25% in H1, trims US market reliance

Egypt exported apparel worth $*,***.*** million during January–June ****, compared with $*,***.*** million in the same period of ****. This marks a strong rebound following global retail recovery and better utilisation of production capacities within Egypt’s textile clusters, according to the *fashion.com/market-intelligence/texpro-textile-and-apparel/” target=”_blank”>sourcing intelligence tool TexPro.
The country exported **.** per cent of its apparel, in value terms, to its top five markets. The US remained the largest destination despite a decline in its share. Egypt’s apparel exports to the US were valued at $***.*** million (**.** per cent) in the first half of ****, down from $***.*** million (**.** per cent) in the same period of ****, indicating reduced reliance on this market. The lower US share is partly due to slower American apparel imports and Egypt’s strategic push towards regional diversification.
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