Fashion
Levi’s launches LEAP to cut emissions in India supply chain
LEAP will offer suppliers the best available pricing, terms, and return on investment to enable renewable energy procurement. This comes at a time when there is a significant opportunity to increase awareness and technical capacity with Indian suppliers as they navigate the diverse and evolving renewable electricity landscape. The program will be shared with the company’s textile and apparel manufacturing suppliers in India, including in-depth training modules, financial analysis, and access to Schneider Electric’s advisory services.
“We are committed to incentivising renewable energy in our supply chain and know our path to our near-term supply chain emissions reduction target is through proven, scalable solutions that fit each supplier,” said Jeffrey Hogue, chief sustainability officer at LS&Co. “Between Schneider Electric’s expertise and the robust network of renewable electricity opportunities available in India, we’re now in a position to better support our suppliers in their own sustainability strategies – and to deliver on ours.”
Levi Strauss & Co and Schneider Electric launched the LS&Co Energy Accelerator Program (LEAP) in India to expand renewable electricity in the supply chain.
The initiative supports LS&Co’s 42 per cent emissions reduction target by 2030.
LEAP provides suppliers with training, financial analysis, and access to advisory services to adopt scalable clean energy solutions.
For the first stage of LEAP, LS&Co. will support textile and apparel manufacturing suppliers in India to transition to renewable electricity, with a goal of later expanding the program to other business partners and geographies. Suppliers that join LEAP will also have the opportunity to explore individual purchase opportunities, such as on-site solar or certificate purchasing, or join a multi-buyer cohort for a power purchase agreement (PPA).
“I am happy to learn that Levi Strauss & Co. has taken steps to increase access to renewable electricity for their supply chain,” said Shri Santosh Kumar Sarangi, Secretary, Ministry of New and Renewable Energy, Government of India. “I welcome this initiative, and this shows that businesses can benefit from clearer and more accessible renewable energy opportunities.”
Schneider Electric has advised companies, including LS&Co., on more than 1.3 TWh of aggregated renewable electricity procurement across supply chain programs managed on behalf of clients in multiple markets. LS&Co. was a participant alongside four other companies in the first multi-buyer power purchase agreement (PPA) cohort for Walmart’s Gigaton PPA program in the US, managed by Schneider Electric, which will serve as a model for any group PPAs developed through LEAP.
“At Schneider Electric, we believe that accelerating the transition to renewable energy across global supply chains is essential to achieving meaningful climate impact. We’re proud to partner with Levi Strauss & Co. on the LEAP initiative, which exemplifies how companies can lead with purpose and scale proven solutions to empower their suppliers,” said Steve Wilhite, President, Schneider Electric Sustainability Business. “By combining our deep expertise in renewable energy advisory with LS&Co.’s bold sustainability vision, we’re helping unlock new opportunities for cleaner energy in India and beyond.”
“As India embarks on an ambitious journey towards a greener, more resilient future, it’s inspiring to see global brands like Levi Strauss & Co. embracing this shift and empowering their supply chains to adopt renewable energy. At Schneider Electric, we are proud to support this transition through Levi Strauss & Co. Energy Accelerator Program (LEAP), combining our expertise with a shared purpose to accelerate decarbonisation, foster industrial innovation, and build a sustainable India for generations to come.” – Deepak Sharma, Zone President – Greater India & MD & CEO, Schneider Electric India
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (MS)
US-based luxury accessories and ready-to-wear brand Michael Kors has announced the opening of a new flagship store on Regent Street in London. Focused on pared-down luxury and sophisticated glamour, the 187–191 Regent Street location reflects the brand’s latest store design concept.
US-based brand Michael Kors has opened a new flagship store at 187–191 Regent Street, London, showcasing its latest concept focused on pared-down luxury and sophisticated glamour.
To mark the launch, a ‘make your own charm’ bar will run every Friday–Sunday till October 12.
The store epitomises the incredible mix of styles found in London, Kors said.
“I’m thrilled to be reopening on Regent Street with our new store concept, which is all about pared-down luxury and sophisticated glamour. Our new store epitomises the incredible mix of styles you find in London. It’s confident, cool, understated, and modern – the perfect destination to immerse yourself in our brand’s rich heritage,” Michael Kors said in a LinkedIn post.
The store will host a ‘make your own charm’ bar every Friday through Sunday till October 12 to celebrate the opening. Michael Kors will collaborate with local artists for these live charm-making sessions, where customers can customise their Michael Kors handbag charms in store throughout the month.
Established in 1981, the company currently produces a range of products under Michael Kors Collection, Michael Kors, and Michael Kors Mens, including accessories, ready-to-wear, footwear, and other products.
Known for consistently polished, chic, relaxed, and glamorous designs, Michael Kors has stores in key cities such as New York, Los Angeles, Chicago, London, Milan, Paris, Dubai, Seoul, Tokyo, Hong Kong, Shanghai, and Rio de Janeiro, alongside digital flagships across North America, Europe, and Asia, offering a seamless omnichannel experience.
Fibre2Fashion News Desk (HU)
By
Bloomberg
Published
September 26, 2025
Valentino SpA is in talks with creditors after a slowdown in demand for luxury goods led to a decline in its results, resulting in the fashion house breaching the terms of its debt, according to people familiar with the matter.
The Italian company, owned by Qatar’s Mayhoola for Investments and Kering SA, is seeking relief on its covenants after its debt-to-earnings ratio surpassed the threshold set in its credit agreement, said the people, who spoke on the condition of anonymity because the deliberations are private.
Valentino has been hurt by a global luxury downturn, fueled by economic uncertainty and rising tariffs, that has led consumers to curb spending on high-end goods. The design house, known for its Rosso Valentino crimson, first breached its covenants in December, the people said. Still, performance has deteriorated significantly, with a decline in earnings during the first half of 2025.
The bulk of Valentino’s debt is comprised of a €530 million ($619 million) financing provided last year by a pool of banks, including Intesa Sanpaolo SpA, Banca Monte dei Paschi di Siena SpA, Banco BPM SpA, and BNP Paribas SA, according to corporate filings seen by Bloomberg. The contract, signed in July 2024, stipulated that Valentino had to maintain a specified net debt-to-earnings ratio, which was to be tested every six months, according to the documents.
Valentino, Mayhoola, and Kering didn’t respond to requests for comment. Intesa, Banca Monte dei Paschi, and Banco BPM declined to comment, while BNP Paribas didn’t respond.
Falling profit
Gucci owner Kering acquired an initial 30% stake in Valentino in 2023 and extended an option to buy the remaining stake from Mayhoola until 2029 this month.
Kering’s investment was viewed as a means to mitigate its exposure to Gucci, which accounts for the majority of its profits and has struggled in recent years.
However, the design house reported a 2.8% drop in revenue to €1.31 billion in 2024, while Ebitda fell 21% to €248 million, according to a Valentino statement in April. The decline was attributed to a reduction in wholesale revenue and a slowdown in European and Chinese markets.
A report by consulting firm Bain & Co. in June projected a contraction in the sector of between 2% and 5% this year.
Including leasing liabilities, Valentino’s net debt stood at €1.08 billion as of Dec. 31.
Valentino has undergone management and design changes over the past 18 months, with Riccardo Bellini joining as chief executive officer at the start of September.
On 23 September 2025, Mayer & Cie., a manufacturer of circular knitting and braiding machines in Albstadt, filed an application for the opening of insolvency proceedings in self-administration at the Hechingen District Court.
On September 23, 2025, Mayer & Cie, a 120-year-old Albstadt-based maker of circular knitting and braiding machines, has filed for self-administered insolvency.
Hit by global crises, cheap Chinese competition, and a 50 per cent sales slump, the 280-employee firm seeks restructuring while continuing operations.
Lawyer Martin Mucha supports management; Ilkin Bananyarli is provisional administrator.
Mayer & Cie. specialises in the manufacture and sale of circular knitting and braiding machines, almost all of which are exported and are valued by textile manufacturers worldwide. The company is owner-managed in the fourth generation and recently celebrated its 120th anniversary. Mayer & Cie. employs around 280 people at its headquarters in Albstadt. Their wages and salaries are secured for three months via the insolvency benefit.
Mayer & Cie. operates in a market that is currently in turmoil due to global events. For example, the trade conflict between the USA and China and the war in Ukraine led to reluctance to invest worldwide. Turkey, an important export market, is struggling with high inflation, which means that textile manufacturers there are no longer competitive. At the same time, state-subsidized manufacturers from China offer their textile machines at low prices on the world market. This led to a slump in sales of almost 50 percent last year – with increased costs at the same time.
Self-administration offers companies a legal framework to reposition themselves while business operations are ongoing. In contrast to regular insolvency proceedings, corporate responsibility remains in the hands of the management, which controls the restructuring itself. She is supported by the experienced restructuring expert Martin Mucha from the law firm Grub Brugger, who joins the company as a general representative. In self-administration, the competent local court does not appoint an insolvency administrator, but a (provisional) administrator. The latter monitors the proceedings in the interest of the creditors. Attorney Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH has been appointed as the provisional administrator of Mayer & Cie.
“On Thursday, together with the management, I informed the workforce about the insolvency application. At the same time, the necessary steps were taken to maintain business operations. We intend to continue business operations as usual and will concentrate with all our commitment on maintaining the company’s core competencies,” explains attorney Martin Mucha.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
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