Explore Business Standard
Fashion Brand
The European Commission has fined luxury fashion houses Gucci, Chlo and Loewe over 157 million euros (nearly USD 183 million) for anti-competitive practices restricting independent retailers' ability to set prices for their luxury goods. The Commission said the companies' fixing of resale prices breached the bloc's competition rules, harmed consumers and would not be accepted. The decision sends a strong signal to the fashion industry and beyond that we will not tolerate this kind of practice in Europe, and that fair competition and consumer protection apply to everyone, equally,' commission vice president Teresa Ribera said in a statement on Tuesday. The commission said that the three brands restricted the ability of independent retailers to set their own prices for high-end apparel, leather goods, footwear and accessories sold both online and in physical stores. The brands required the retailers to stick to recommended retail prices, set maximum discount rates as well as periods
Purple Style Labs, the parent firm of luxury fashion platform Pernia's Pop-Up Shop, has filed preliminary papers with capital markets regulator Sebi to raise Rs 660 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Monday. The Mumbai-based company is looking to garner Rs 130 crore in a pre-IPO placement round. If this is undertaken, the fresh issue size would be reduced accordingly. The company plans to use IPO proceeds to the tune of Rs 363.3 crore to invest in its wholly-owned subsidiary, PSL Retail, for lease liabilities related to experience centres and back-end offices in India; Rs 128 crore will be deployed for sales and marketing, and the rest will go towards general corporate purposes. With a portfolio of around 2.12 SKUs across women's wear, men's wear, fine jewellery, fashion jewellery, kids wear and accessories, .
Hundreds of ordinary admirers and VIPs paid their last respects Saturday to Giorgio Armani, remembered by Milan's mayor as a "man of extraordinary elegance" who left an indelible mark on the city and the global fashion world. Armani died Thursday at 91 at his home in central Milan surrounded by loved ones. His fashion house said he worked up to the end. One of his final projects was a runway show marking 50 years of his signature Giorgio Armani brand, which is due to close Milan Fashion Week later this month. Mourners filed into the Armani Theater, where Armani regularly showed his ready-to-wear runway collections. Rows of candles in paper bags cast a shimmering light and piano music by Italian composer Ludovico Einaudi played softly in the background. The closed coffin was adorned with a bouquet of long-stem white roses, and flanked by carabinieri honour guards in ceremonial dress. Among them was including Donatella Versace, who wore a dark skirt suit and carried a bouquet of whit
Global fashion brand Zara has flat growth in its India sales as its revenue from operations was at Rs 2,782.06 crore for FY'25, while its profit was up nearly 23 per cent to Rs 299.47 crore, according to the latest annual report of Trent Ltd. Inditex Trent Retail India Private Ltd (ITRIPL), a JV which is engaged in the operation of Zara stores in India, in FY'24 had reported a revenue from operations at Rs 2,768.90 crore and a profit of Rs 243.84 crore. ITRIPL is a JV between Spain's Inditex, which owns luxury fashion brand Zara and Tata Group's retail arm Trent Ltd. Its total income, which includes other income, was up 2.26 per cent to Rs 2,839.50 crore for the financial year ended on March 31, 2025. Zara, which competes with the likes of other foreign brands such as H&M and UNIQLO in India, currently operates 22 stores across 13 cities. A year before, the entity for Zara was operating 23 stores across 12 cities. In FY'25, Trent offloaded its stake in ITRIPL in the buyback offer