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.
workers-rights
Latest News & Analysis
Luxury
Harrods Hasn’t Fully Reckoned With Former Owner’s Abuse, Victims Say
Harrods is still grappling with the dark legacy of former owner Mohamed Al Fayed’s serial sexual abuse, facing ongoing internal investigations, compensation negotiations and calls for greater accountability.
Harrods Hasn’t Fully Reckoned With Former Owner’s Abuse, Victims Say
Harrods is still grappling with the dark legacy of former owner Mohamed Al Fayed’s serial sexual abuse, facing ongoing internal investigations, compensation negotiations and calls for greater accountability.
Sustainability
Can Fashion Stop Wasting So Much Water?
Fresh solutions to water scarcity in the supply chain, sourcing shifts and regulatory recalibration are reshaping fashion’s sustainability playbook.
Can Fashion Stop Wasting So Much Water?
Fresh solutions to water scarcity in the supply chain, sourcing shifts and regulatory recalibration are reshaping fashion’s sustainability playbook.
Sustainability
Are Fashion’s Sustainability Efforts Misplaced?
A disappointing COP30 deal was reached in Brazil, while floods across South and Southeast Asia showed exactly why quicker action is required. Meanwhile the EU watered down sustainability legislation yet again, this time targeting deforestation. In some positive news, bans on fur and misleading ‘green’ ads made headway.
Are Fashion’s Sustainability Efforts Misplaced?
A disappointing COP30 deal was reached in Brazil, while floods across South and Southeast Asia showed exactly why quicker action is required. Meanwhile the EU watered down sustainability legislation yet again, this time targeting deforestation. In some positive news, bans on fur and misleading ‘green’ ads made headway.
Sustainability
The COP30 Deal Won’t Solve Fashion’s Climate Problems
Action is needed much faster than it will take for voluntary national commitments to kick in.
The COP30 Deal Won’t Solve Fashion’s Climate Problems
Action is needed much faster than it will take for voluntary national commitments to kick in.
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Global Markets
Bangladesh Garment Factory Fire Kills 16, Toll May Rise
A deadly fire at a Bangladeshi garment factory and an adjacent chemical warehouse highlights the ongoing issue of poor fire and building safety standards in the country’s vital garment sector.
Bangladesh Garment Factory Fire Kills 16, Toll May Rise
A deadly fire at a Bangladeshi garment factory and an adjacent chemical warehouse highlights the ongoing issue of poor fire and building safety standards in the country’s vital garment sector.
Retail
Trump’s New H-1B Visa Fee Will Cost Fashion, Too
A BoF analysis of government data found hundreds of workers employed by dozens of fashion and beauty companies use the visas for skilled workers, which the administration says will now cost $100,000 each.
Trump’s New H-1B Visa Fee Will Cost Fashion, Too
A BoF analysis of government data found hundreds of workers employed by dozens of fashion and beauty companies use the visas for skilled workers, which the administration says will now cost $100,000 each.
Beauty
Deported Makeup Artist Andry Hernández Romero’s American Nightmare
He came to the US with a dream of a beauty career free of persecution. Instead, Andry Hernández Romero disappeared for months into one of the world's worst prisons. Now, he's rebuilding his life from scratch.
Deported Makeup Artist Andry Hernández Romero’s American Nightmare
He came to the US with a dream of a beauty career free of persecution. Instead, Andry Hernández Romero disappeared for months into one of the world's worst prisons. Now, he's rebuilding his life from scratch.
Luxury
Does Brunello Cucinelli Have the Answers to Luxury’s Problems?
The ‘quiet luxury’ Italian cashmere label that’s still generating double-digit sales growth amid a sharp downturn in luxury demand has cast itself as the tortoise to the wider sector’s hare.
Does Brunello Cucinelli Have the Answers to Luxury’s Problems?
The ‘quiet luxury’ Italian cashmere label that’s still generating double-digit sales growth amid a sharp downturn in luxury demand has cast itself as the tortoise to the wider sector’s hare.
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Sustainability
Luxury’s Trust Issues
Big brands are taking steps to shore up consumer confidence in their high-end positioning, after a series of sweatshop scandals contributed to a sense of ‘luxury ick.’
Luxury’s Trust Issues
Big brands are taking steps to shore up consumer confidence in their high-end positioning, after a series of sweatshop scandals contributed to a sense of ‘luxury ick.’
Luxury
The Great Fashion Reset | How to Fix Luxury’s Trust Issues
A series of scandals linking brands including Dior, Armani, Valentino and Loro Piana to sweatshops in Italy have helped fuel doubts about what customers are paying for and whether they can trust luxury brands anymore.
The Great Fashion Reset | How to Fix Luxury’s Trust Issues
A series of scandals linking brands including Dior, Armani, Valentino and Loro Piana to sweatshops in Italy have helped fuel doubts about what customers are paying for and whether they can trust luxury brands anymore.
Luxury
How Loro Piana Was Linked to Labour Exploitation
LVMH’s high-end cashmere firm cultivated unassailable luxury credentials with its commitment to quality and craft. According to Italian prosecutors, thousands of its cashmere jackets were made in illegal, Chinese-owned workshops on the outskirts of Milan.
How Loro Piana Was Linked to Labour Exploitation
LVMH’s high-end cashmere firm cultivated unassailable luxury credentials with its commitment to quality and craft. According to Italian prosecutors, thousands of its cashmere jackets were made in illegal, Chinese-owned workshops on the outskirts of Milan.
Luxury
LVMH’s Loro Piana Put Under Court Administration in Italy Over Labour Exploitation
The Italian cashmere firm has been placed under judicial administration for a year due to alleged worker exploitation and inadequate oversight within its supply chain.
LVMH’s Loro Piana Put Under Court Administration in Italy Over Labour Exploitation
The Italian cashmere firm has been placed under judicial administration for a year due to alleged worker exploitation and inadequate oversight within its supply chain.
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.