Fashion
EU FMs agree on road map for launching digital euro currency
The decision is expected to give the ministers a say on whether a digital currency is issued and how many such euros each resident will be able to hold, which is seen as crucial for assuaging fears of a run on bank deposits.
EU Finance Ministers recently met in Copenhagen and agreed on a road map for launching a digital euro currency that may turn an alternative to the US-based credit card systems.
The decision is expected to give the ministers a say on whether a digital currency is issued and how many such euros each resident will be able to hold.
A compromise was reached on the procedure for setting the holding limit.
The meeting was also attended by ECB president Christine Lagarde and European Commissioner Valdis Dombrovskis.
“The compromise that we reached is that before the ECB makes a final decision in relation to issuance…there would be an opportunity for a discussion in the Council of Ministers,” Paschal Donohoe, who chaired meetings of Finance Ministers, told a joint press conference.
Donohoe, Lagarde and Dombrovskis also celebrated a compromise on the procedure for setting the holding limit, without offering details, global media reported.
Discussions on a digital euro gathered momentum this year as the EU is now keen to reduce its dependence on other countries in strategically important sectors.
But the ECB is yet to secure legislative approval for it, with lawmakers and bankers complaining it may erode banks’ coffers, may prove expensive or reduce privacy.
Though the European Commission proposed digital euro legislation in June 2023, the other two institutions that have to sign off on it, the European Parliament and the European Council, have yet to do so. The Council aims at wrapping up its side of the work by the year end.
“The digital euro is not just a means of payment, it is also a political statement concerning the sovereignty of Europe and its capacity to handle payment, including on a cross-border basis, with a European infrastructure and solution,” Lagarde told the press conference.
“The digital euro must guarantee the strategic autonomy and resilience of our financial system in the face of external threats. In short, it is a tool to defend our financial sovereignty,” said Italian Minister of Economy and Finance, Giancarlo Giorgetti, calling the joint Commission-ECB proposal “a solid compromise, which takes into account political and economic factors”.
Giorgetti feels having clear and appropriate spending limits on holdings is essential as “it will encourage their use, prevent them from becoming a sort of store of value, and allow for a meaningful response to private sector concerns about the potential impact on financial stability.”
Today “we have reached a political agreement on how to define the entire process between the ECB and the member states. The hope is that the digital euro project will materialise quickly,” he added.
Fibre2Fashion News Desk (DS)
Published
September 23, 2025
As Chamonix, Grenoble and Albertville prepare to host the Winter Olympic and Paralympic Games in 2030, a call for expressions of interest has been launched to identify innovative textile solutions in France that could contribute to the project.
“The Call for Expressions of Interest aims to showcase innovative textile solutions put forward by French stakeholders, aligned with the needs of the Games,” the notice stated, giving companies until October 10 to respond.
In particular, companies offering recycling processes that enable circularity in textile use, as well as manufacturers of innovative textile and composite materials, are invited to apply. Organisations offering low‑environmental‑impact processes and services, and “smart products” incorporating textiles, are also encouraged to come forward.
“Projects applying must be at a very high level of maturity,” the call noted, while also inviting less established organisations to come forward if they can demonstrate their progress during the Games. This is provided their activities are underpinned by local know‑how, by resource‑efficient, responsible and secure solutions, and by a sustainable approach that takes climate change into account—alongside an inclusive approach.
The conditions and application form can be downloaded from the Techtera website, the competitiveness cluster for the French textile industry in Auvergne‑Rhône‑Alpes.
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Copyright © 2025 FashionNetwork.com All rights reserved.
Published
September 22, 2025
Burberry climaxed the five-day London Fashion Week Monday night with a cool and concise rock ‘n’ roll revival show that refreshed the marque with plenty of punch and polish.
Staged inside a tent in the northwest corner of Hyde Park, the show attracted a great front row: Jason Statham and Rosie Huntington-Whiteley; rapper Skepta and soccer legend, Ian Wright; Elton John and David Furnish; songstress Raye and soul singer, Olivia Dean.
Designer Daniel Lee’s intention was clear from the opening looks and chords: a bright waxed plaid trench dress worn with rugged boots on a model with Marianne Faithfull hair; followed by a waxed denim trench on a guy with a Hendrix afro. The soundtrack: a great booming remix of “Planet Caravan” by Black Sabbath. A band that Lee’s Harley Davidson-riding dad adored, and whose singer Ozzy Osborne recently passed this year.
Matter of fact, not a single ensemble would look out of place on a rock star: from the dolly bird white moulded A-line cocktails finished in chains and golden or turquoise macramé party sheathes for gals. To suede lace Lothario rocker trenches for guys, to some seriously crisp suits, cut with peg legs and snug jackets.
Lee kept the brand’s plaid theme going with great waxed parkas, girly pants or military boots. Leather posh hippie spy coats and bags with long fringes, all looked great as the Black Sabbath montage, including “You Won’t Change Me”, boomed out.
Like the collection, the palette had plenty of kick: acid green, salmon pink, bitter yellow; attention- seeking, but all the better for that.
“Summertime in the UK is so synonymous with music culture. This year felt extra special, with the Oasis tour, Beyoncé at Glastonbury, Kendrick was here. Every few days incredible music at festivals, and the Beatles movie is coming up. But it was a wonderful mod ballet at Saddler’s Well that first got me thinking how to celebrate that… Musicians have always had incredible style, and I wanted that exchange between music and fashion,” Lee explained backstage.
Underlining his goal is to make clothes that require skill to produce and evoke emotion. “It’s what separates luxury from great UK high street labels, skill and know-how and making historic techniques relevant for today,” Daniel added.
The overall look was perhaps not so path-breaking. Nonetheless collectively the collection – with its unexpected techniques – seemed very of the moment. Just right for today.
The show comes at a delicate moment for Burberry, the United Kingdom’s leading luxury brand, Burberry suffered a 15% decline in annual revenue in the 12 months ending March 29 to £2,461 million, while operating profit plummeted over 90% to a mere £26 million. This collection, however, seemed very commercially savvy, and timely.
The night before, the house unveiled its latest retail concept, Scarf Bar, whose debut space was inside Burberry’s giant Regent Street flagship.
“Scarf Bar offers 200 styles of Burberry scarves, from heritage to new creations. We plan to open 30 Scarf Bars in the next three months,” beamed CEO Joshua Schulman, who joined Burberry 15 months ago in July, 2024.
Offering a great selection of classic and punchier new plaids, made in a selection of materials: cashmere, mohair, wool and silk, or mixes of all four. Situated on the south side of the store, the Scarf Bar cleverly utilizes a slightly forgotten retail space that opens out on to Vigo Street. It’s also a smart example of Schulman – a veteran retailer with experience at department store giant Neiman Marcus.
Schulman, according to UK media reports, is the highest paid luxury executive in Britain. The 52-year-old Los Angeles-born Schulman, who was also previously CEO of Michael Kors, Coach and Jimmy Choo, reputedly has an annual salary of £2.6 million.
Since arriving, Schulman has ordered a reset, and in May unveiled plans to lay off 1,700 people or some 20% of its workforce, tough decisions greeted positively by shareholders. With the group’s share price rising 50% since his appointment.
Schulman has a major task on his hands, and a major upside if he is successful. Should he double Burberry’s share price in three years he will earn a £3.6 million bonus.
Post-show, both designer and CEO were in an ebullient mood, hosting a bash inside Chiltern Firehouse, the 26-suite London hotel famed as a celebrity hangout, which is also undergoing a restoration since burning wood from a pizza oven caused a huge fire back in February. The fact that Chiltern Firehouse would permit a soft pop-up for Burberry, a reminder of house’s unique position in Britain.
But tonight, far from being a “Bonfire of the Vanities”, Burberry suddenly began looking in pretty good shape.
Copyright © 2025 FashionNetwork.com All rights reserved.
Published
September 22, 2025
Nike and Skims unveiled their first apparel collection on Monday, introducing far more than a collaboration, but a standalone brand: NikeSkims.
The debut line spans seven collections and 58 silhouettes, offering a “system of dress” the brands say transitions seamlessly from studio to gym and beyond, with more than 10,000 ways to mix and match.
The launch follows the announcement in February of a partnership between Nike and Skims, bringing together Nike’s performance expertise and Skims’ solutions-driven approach to women’s apparel. The line will be available September 26 on Nike and Skims websites, as well as at select Nike and Skims flagship stores in New York and Los Angeles.
“NikeSkims is a bold evolution in how women experience sport and style — and together with Skims, we’re delivering what no other brand can,” said Amy Montagne, president, Nike. “It’s part of Nike’s broader commitment to her: uncompromising product innovation that moves and celebrates women.”
The debut is backed by a campaign titled “Bodies at Work”, directed by Janicza Bravo and photographed by Luis Alberto Rodriguez and Rob Woodcox. The film and imagery feature more than 50 athletes across Nike’s portfolio, including Jordan Chiles, Romane Dicko, Beatriz Hatz, Chloe Kim, Nelly Korda, Sha’Carri Richardson, Madisen Skinner, Serena Williams, and Skims co-founder Kim Kardashian.
“NikeSkims’ Bodies at Work film celebrates every woman’s strength and power,” said Kim Kardashian. “Our mission is clear: to redefine women’s activewear without compromise. This collection brings together cutting-edge performance with bold, style-forward design, empowering athletes — from elite competitors to everyday gym enthusiasts — to move effortlessly and conquer their goals with confidence.”
The first NikeSkims launch introduces three core collections — Matte, Shine, and Airy — alongside four seasonal capsules featuring track-inspired, vintage, semi-sheer, and nylon styles. Pieces are designed with sculpting fabrics, innovative materials, and Nike’s Dri-Fit technology to deliver compression, breathability, and stretch.
Jordan Chiles, an Olympic and world-champion gymnast, praised the collection for its combination of performance and style.
“I’m an athlete, but I love fashion too. It’s important for me to express myself, and I love how wearing NikeSkims allows me to do that,” she said. “The NikeSkims product is a game-changer. I love the quality, how it moves with me and supports me in all the right areas. I feel sleek, comfortable and completely myself.”
Copyright © 2025 FashionNetwork.com All rights reserved.
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