New York-based womenswear brand Jason Wu was recently acquired by Shenzhen-based private equity fund Green Harbor, which announced on its WeChat account its acquisition of a majority stake in Jason Wu’s parent company JWU without offering any details about the figures involved in the transaction. WeChat is a popular Chinese social media tool.Pic: Jason Wu StudioTaiwanese-Canadian designer Jason Wu, who trained under Narciso Rodriguez and served as womenswear artistic director at Hugo Boss from 2

Prym Fashion has announced the acquisition of New York-based Sher Plastics, a proven leader in button and trim manufacturing. The new entity to be named Prym Fashion Americas will continue to do business as Sher Plastics. Prym Fashion will begin selling Sher Plastics products throughout Europe, and will provide sales and technical service support globally.Pic: Sher PlasticsSher Plastics’ 30 New York-based employees will form the face of Prym Fashion in the US, while the staff of 34 in Hong Kong

Canada Goose has plans to open six new stores with two in Europe, one in the United States and three in Canada. Set to open in fall/winter 2019, the new stores highlight the increasing demand both at home and internationally for the performance luxury brand. Currently, it operates 11 company stores across three continents weaving the brand's heritage.Pic: Canada GooseFounded in a small warehouse in Toronto, Canada in 1957, Canada Goose has grown into one of the world’s leading makers of perf

Isko is showing its latest performance-wear innovations, Isko Arquas and Isko Vital at the ongoing Performance Days expo, in hall C6, booth F03. The leading show for fabrics and accessories in functional sportswear, athleisure, safety, and durability, is being held on May 8-9, 2019, in Germany. Isko is a textile manufacturer and a leading producer of denim.Pic:ISKOThese two platforms cover a broad range of technical and style applications, offering cutting-edge solutions for those brands seeking

In 2018, Chinese consumers at home and abroad spent 770 billion RMB on luxury items equivalent to a third of global spend, according to a research based on UnionPay transaction data for 2019 McKinsey China Luxury Report. Their outlay is set to double to 1.2 trillion RMB by 2025 when 40 per cent of world’s spending on luxury goods will be conducted by China.The study by McKinsey combined a comprehensive survey of Chinese luxury consumers, ethnographic research of representative young Chinese luxu

The British Fashion Council (BFC) has announced British label Wales Bonner as the winner of this year’s BFC/Vogue Designer Fashion Fund. The fund will provide the designer with a bespoke, high level mentoring support programme over 12 months as well as a £200,000 cash prize to provide necessary infrastructure to take to the next stage in business.Pic: Wales Booner"Bonner is a huge creative talent and her label Wales Bonner has a unique vision, which really relates to the now. Her diverse pe

Swedish clothing giant H&M Hennes & Mauritz AB has discontinued its catalogue business with immediate effect stating that “shopping from a catalogue simply isn’t relevant to today’s consumers.” The H&M catalogue—which dates back to the Swedish mail-order business Rowells acquired by H&M back in 1980—was currently being published in 6 of its 72 markets.“We want shopping at H&M to be relevant, convenient and inspiring. Shopping from a catalogue simply isn’t relevant to today’s

The Armenian Government recently decided to offer customs benefits to Alex Textile as the company has announced to invest more than 15.6 billion drams (AMD) to raise its production output. The company, which employs 1,104 people, will spend AMD 14.1 billion to purchase raw materials and AMD 1.5 billion to buy equipment and construct new divisions.Pic: Alex TextileAfter the investment goes into effect, around 400 jobs will be created, according to media reports in the country.The revised producti

The revenue of Boohoo Group during fiscal 2019 has been recorded at £856.9 million, up 48 per cent from last year. The UK-based retailer has witnessed strong revenue growth across all geographies with UK up 37 per cent and international up 64 per cent. In the reported period, the gross margin increased to 54.7 per cent against 52.8 per cent last year.Pic: BoohooThe group has performed exceptionally well during the year. Revenues have increased across all brands in all regions. PrettyLittleThing

Building upon a year of considerable growth in 2018 and having already delivered on several of its key 2020 goals, Lululemon Athletica has outlined its growth strategy for the next five years. The company plans to fuel growth through three strategic plans to drive product innovation, create integrated guest experiences and to expand deeper in key markets.Pic: Lululemon AthleticaThe growth strategy includes a plan to double men’s and digital revenues, and to quadruple international revenues. The