Fashion
Qatar cuts Sainsbury’s stake to end near two-decade reign as top shareholder
By
Reuters
Published
December 3, 2025
Qatar’s sovereign wealth fund plans to reduce its stake in Britain’s second-largest supermarket group Sainsbury’s by nearly 4%, a term sheet showed on Tuesday, ending its near-two-decade reign as top shareholder in the chain.
Qatar Investment Authority plans to offer shares at 317.6 pence ($4.20) per share in a secondary offering with JPMorgan as the sole bookrunner, according to the term sheet. Sainsbury’s shares are up 23% this year and closed at 326 pence on Tuesday.
Qatar’s sovereign wealth fund has been a Sainsbury’s shareholder since 2007. That year its holding peaked at 25% and it abandoned a potential bid. It started selling in 2021.
In October last year, the fund reduced its holding by about 5% through a nearly $400 million share sale.
Qatar’s fund plans to sell shares worth about 265.5 million pounds, reducing its stake to 6.82% from the current 10.48%, according to LSEG data. The fund would drop to the fourth-largest shareholder from first place.
Sainsbury’s and the fund did not immediately respond to Reuters requests for comment.
Sainsbury’s, whose UK grocery market share has grown to a near-decade high of 15.3%, has said that it now expects to deliver retail underlying operating profit of more than 1 billion pounds for its year to March 2026.
It has a market capitalization of 7.44 billion pounds as of Tuesday’s close.
© Thomson Reuters 2025 All rights reserved.
Fashion
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Fashion
US brand Calvin Klein unveils Spring 2026 denim with Jung Kook
Directed and shot by Mert Alas, the new chapter sharpens the focus on denim as the ultimate expression of personal style through icon Jung Kook’s distinctive and influential point of view as he lives in the moment.
Calvin Klein, owned by PVH Corp., has unveiled its Spring 2026 denim campaign fronted by BTS icon Jung Kook.
Directed and photographed by Mert Alas, the cinematic film fuses music, movement and city energy, highlighting 90s Straight, Baggy and reworked Trucker silhouettes.
A special appearance by Rosie Perez amplifies the brand’s signature visual storytelling.
The campaign unfolds across a series of immersive worlds, unified and guided by Jung Kook’s style, attitude and way of living. The high-impact film fuses fashion and entertainment, moving to an instantly recognizable soundtrack and brought to life through the artist’s signature choreography and commanding presence. The interplay of music and movement – complete with a cameo from New York City legend Rosie Perez – captures the impact synonymous with Calvin Klein’s iconic visual storytelling.
Calvin Klein jeans are at the center of the wardrobe with hero silhouettes leading the narrative: the effortless attitude of the 90s Straight; the relaxed and nostalgic proportions of the Baggy; and new interpretations of the iconic Trucker jacket — all reimagined with elevated washes and designed for versatility. Casual logo tees and oversized bombers complete the looks, reinforcing denim as both uniform and statement.
“I love Calvin Klein jeans because they’re designed to be lived in,” said Jung Kook. “The looks I wore for this campaign nod to ‘90s style while feeling completely modern. It was exciting to bring together my love of music, dance and fashion against the energy of the city.”
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 (RM)
Fashion
China targets 4.5 to 5% GDP growth for 2026
Premier Li Qiang, who delivered the report at the opening of the fourth session of the 14th National People’s Congress in Beijing, said the growth target is “well aligned with the country’s long-range objectives through the year 2035 and is broadly in line with the long-term growth potential of China’s economy, with favorable conditions in place for achieving this target.”
China has set a GDP growth target of 4.5–5 per cent for 2026, alongside goals to stabilise employment, manage inflation, maintain grain output and cut emissions.
The plan also preserves flexibility for structural reforms under the 15th Five-Year Plan, aiming to balance steady economic expansion with long-term, high-quality and sustainable development.
Main development targets for 2026 also include a surveyed urban unemployment rate of around 5.5 per cent, creation of over 12 million new urban jobs, a rise in the consumer price index of around 2 per cent, personal income growth in step with economic growth, a basic equilibrium in the balance of payments, grain output of around 700 million tonnes, and a drop of around 3.8 per cent in carbon dioxide emissions per unit of GDP.
Qiang said the targets took into account the need to leave room for structural adjustments, risk prevention and reform in the opening year of the 15th Five-Year Plan (2026–30) period, to lay a solid foundation for improved performance in the coming years. Government at local level should, taking into account their own conditions, make solid efforts to deliver positive outcomes, he added.
Analysts said the 2026 target reflects a pragmatic approach in recognising structural and cyclical challenges facing the world’s second-largest economy, while pursuing reasonable growth in line with high-quality development.
Fibre2Fashion News Desk (JP)
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