Nike is suspected of using the Dutch law to avoid tax evasion; according to foreign media, Paradise Papers, the European sportswear Nike, which is based in the Netherlands, is suspected of using Dutch law to avoid tax evasion. It is reported that Nike artificially reduced its profit in Europe in 2014 through this loophole, thus avoiding the payment of high taxes and fees, and reduced its global tax rate from 24% to 16% in the past three years. According to sources, the EU is currently asking the Dutch authorities to take measures to make up for this gap. As of now, Nike has not responded to this news.
Shandong Ruyi will spend more than 2 billion US dollars to buy Lycra brand holders
According to informed sources of Bloomberg News, Shandong Ruyi is spending more than $2 billion to acquire INVISTA apparel and premium fabrics, including the Lycra brand. One of them said that the acquisition of the company from Koch Industries is one of the goals of Shandong Ruyi's global leading textile brand. It is reported that the transaction will add about 3,000 employees to Shandong Ruyi, as well as brands such as Leica, Coolmax and Thermolite. INVISTA issued a statement earlier that the transaction is expected to be completed by mid-2018. As of now, Shandong Ruyi and INVISTA have refused to respond to this news.
Pandora's third-quarter profit fell 3% less than expected stock price once fell 5%
In the three months ended September 30, the Danish jewellery brand Pandora's profit was reduced by 3% from the US hurricane in August and September to approximately 3.7 billion DKK of 3.7 billion, and operating sales increased by 13% year-on-year to 5.19 billion. The Danish Krone was approximately $825 million and all product categories recorded double-digit growth. Among them, Pandora Rose series sales tripled compared with the same period last year.
During the period, Germany, Italy, Australia and China recorded significant double-digit growth. The Group expects sales in FY17 to be between TDR 23 billion and TRW 24 billion, or between USD 2.72 billion and USD 2.84 billion. After the earnings report, Pandora's share price once fell 4.73% to DKK 564.4 per share, with a market value of about 63.5 billion DKK.
Fossil Group's third-quarter results were down, and its share price plummeted 11%
In the third quarter ended September 30, the Fossil Group's sales fell 6.7% year-on-year to $689 million, with a net loss of $5.4 million. CEO Kosta Kartsotis said after the release of the earnings report that the global retail environment is still full of challenges, but the smart watch business still recorded strong growth. Since the beginning of this year, the brand wearable equipment business has tripled, and Fossil will increase the business in the future. investment. Due to the sluggish performance, after the earnings report, Fossil shares plunged 11% to $6.85 per share, and the current market value is about $332 million.
Germany's largest e-commerce Zalando's third-quarter net loss of 11.1 million euros
In the three months ended September 30, Germany's largest e-commerce Zalando recorded a net loss of 11.1 million euros, compared with a net profit of 5 million euros in the same period last year, and adjusted operating profit plummeted 98% to 400,000 euros. During the period, the Group's sales surged 28.7% year-on-year to 1.07 billion Euros. Sales in the DACH region including Germany, Austria and Switzerland recorded 22.3% to 497 million Euros. Sales in other parts of Europe increased 30.9% YoY. To 48,900 euros. During the reporting period, active users of Zalando increased by 1 million to 22.2 million. For the full year of 2017, Zalando expects sales to increase between 20% and 25%.
E-commerce platform Etsy's third-quarter profit rose 21%
In the third quarter, Etsy's e-commerce platform, which sells handicrafts, surged 21.5% year-on-year to US$106.4 million, while GMS (total merchandise sales) rose 13.2% year-on-year to US$766.4 million. Etsy CEO Josh Silverman said that thanks to effective reform and restructuring measures, the group achieved the highest profit since its listing. Josh Silverman has long admitted that Etsy still has 15% redundant positions, and it is expected that 230 employees in marketing, product management and administration will be dismissed, and severance fees will be as high as $8.8 million. The Group expects GMS growth in FY2017 to be between 12% and 14%, and profit growth between 18% and 20%.
French luxury brand The Kooples will join forces with Swire Resources to enter the Greater China market
According to the latest news from the American Women's Daily, the French luxury brand The Kooples has entered into a cooperation agreement with Swire Group, a subsidiary of Swire Group, which will be responsible for the brand's distribution network in Asia. The brand's first flagship store in Hong Kong will open this month. It will officially enter the Chinese mainland and Macau market next year. Laetitia Mergui, CEO of The Kooples Asia, said that the brand has been in the midst of a promising Greater China region and hopes to leverage the management of Swire Resources to better explore the market potential of the brand in Greater China. The brand currently has more than 400 stores in 36 countries around the world.
US court dismissed Forever 21 to cancel Gucci Stripe patent application
A few days ago, the French Federal Court of California judge announced that it rejected the application of the luxury fashion brand Forever 21 in June this year to cancel the luxury brand Gucci stripe patent. The judge stated that Forever 21 was unable to submit more strong evidence before the deadline, and therefore decided to reject it. Forever 21 believes that stripes are the most popular and most common design element in the apparel industry and should not be protected by trademarks. It is reported that Forever 21 can appeal before the 17th of this month, and Gucci can file a counterclaim before December 4. As of now, Forever 21 has not responded to this news.
Shiseido acquires artificial intelligence company Giaran to support branded custom business
Giaran focuses on deep learning, data mining and predictive modeling through artificial intelligence technologies such as AI, Big Data and VR, which are used in virtual beauty, color matching, personalized recommendations, face tracking and skin color detection. This is in line with the demand for personalized custom beauty products that Shiseido is currently developing. To this end, Shiseido has also brought to the attention of Antonio Spiliotopoulos, the former senior vice president of consumer products of L'Oréal Group. Due to violation of the competition agreement and suspected malicious competition, the New York court has banned Antonios Spiliotopoulos from joining Shiseido.
Fashion brand Telfar wins 2017 CFDA/VOGUE fashion award
Telfar, the brand created by Liberia Asian American designer Telfar Clemens, won the 2017 CFDA/VOGUE fashion award and won a prize of $400,000. Eyewear brand Ahlem Eyewear and high-end swimwear brand Chroma won the runner-up and will receive $150,000 in prize money respectively. The CFDA / Vogue Fashion Fund aims to nurture the next generation of emerging design talent in the United States by providing funding and guidance from CFDA and Vogue editors. Previous winners include fashion brands such as Proenza Schouler, Alexander Wang, Altuzarra and Rodarte.
MUJI's first hotel in the world will open in Shenzhen
According to the latest news from the Nikkei Chinese website, MUJI Muji's parent company, Good Products Co., Ltd. will open the world's first MUJI hotel in Shenzhen in January 2018. The hotel will be located on the 2nd to 6th floors of the newly built building in Shenzhen. There are 79 rooms, each with an area of ​​26 to 38 square meters. Two floors will also open the MUJI Dinner, and all the supplies from the hotel are from useless products. . In March 2018, the second domestic MUJI hotel will open in Beijing, and the first MUJI hotel in Japan is expected to open in Ginza, Tokyo in the spring of 2019.
Swiss luxury watch brand Omega opens a new high-tech factory
According to foreign media, the Swiss luxury watch brand Omega's new high-tech factory was officially unveiled in Bill, Switzerland, designed by Japanese architect Shigeru Ban. Nick Hayek, CEO of Omega's parent company Swatch Group, said that the assembly and testing of all watches will be carried out at the factory in the future, including T2 (watch assembly), T3 (bangle) and T4 (transport), and inventory and logistics operations. It will also be completed in the new building. This comprehensive integration means that Omega's production efficiency will be further enhanced.
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