De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Sri Lanka
Sustainability
Cyclone in Sri Lanka Impacts Multiple Garment Factories
A week after devastating floods, the industry association in Sri Lanka says multiple large facilities have been impacted, as recovery efforts for affected workers are underway.
Cyclone in Sri Lanka Impacts Multiple Garment Factories
A week after devastating floods, the industry association in Sri Lanka says multiple large facilities have been impacted, as recovery efforts for affected workers are underway.
Global Markets
Sri Lankan Apparel and Textile Exports Rise Almost 23% in 2021
The value of the sector reached $5.42 billion after fashion exports rose 22.93 percent year-on-year in 2021, according to provisional data released by the Sri Lanka Export Development Board.
Sri Lankan Apparel and Textile Exports Rise Almost 23% in 2021
The value of the sector reached $5.42 billion after fashion exports rose 22.93 percent year-on-year in 2021, according to provisional data released by the Sri Lanka Export Development Board.
News & Analysis
Three Children of Asos Billionaire Killed in Sri Lanka Attacks
"All but one of Anders Holch Povlsen’s four children have died after series of explosions"
Three Children of Asos Billionaire Killed in Sri Lanka Attacks
"All but one of Anders Holch Povlsen’s four children have died after series of explosions"
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The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.