Apparel Retail

Kering issues luxury profit warning, Gucci sales to plunge 20%

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A Gucci store at Harbour City shopping mall, operated by Wharf Holdings Ltd., in Hong Kong, China, on Friday, June 2, 2023.  Bloomberg | Getty Images Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining … Read more

Online retailer Temu files fresh lawsuit against rival Shein in U.S.

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Global online shopping platform Temu is already climbing the ranks in the U.S. Apple Store. Bloomberg | Bloomberg | Getty Images Chinese low-cost online retailer Temu has launched a new lawsuit against its rival Shein over copyright concerns and “mafia-style intimidation of suppliers,” a filing on Wednesday showed. In the filing, Boston-headquartered firm WhaleCo, which … Read more