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Temu, Shein targeted as EU cracks down on unsafe ecommerce imports

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7 hours ago

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Reuters

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February 5, 2025

Chinese online marketplace Temu and fast-fashion retailer Shein will be liable for the sale of unsafe and dangerous products on their platforms, the European Commission said on Wednesday as part of a crackdown against the flood of cheap ecommerce imports into the European Union.

The EU executive also said it would coordinate a joint investigation by the Consumer Protection Cooperation (CPC) Network of national consumer authorities into Shein based on suspicions that the company infringes EU consumer protection rules.

The measures by the EU executive echoed a similar push by the U.S. government which ended a trade provision this week used by retailers including Temu and Shein to ship low-value packages duty-free to the United States.

The Commission said its concerns were triggered by some 4.6 billion low-value items below €22 imported into the EU last year, equal to 12 million parcels per day, 91% of which came from China. The figure was double that in 2023.

It said the cheap imports pose unfair competition to EU sellers which follow the rules while the large number of packages being shipped has a negative impact on the environment and climate.

“We want to see a competitive e-commerce sector that keeps consumers safe, offers convenient products, and is respectful of the environment,” EU tech chief Henna Virkkunnen said in a statement.

Shein said it would engage with the consumer agencies and the Commission.
“We share the CPC Network’s goal of ensuring European consumers can shop online with peace of mind, and we intend to work closely with the CPC Network and the Commission to address any concerns,” a spokesperson said.

Temu did not immediately respond to a request for comment. 

© Thomson Reuters 2025 All rights reserved.



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Litkovska launches capsule collection with Nick Knight

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18 minutes ago

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February 5, 2025

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February 5, 2025

Ukrainian fashion house Litkovska has launched a capsule collection with British image-maker Nick Knight, dubbed The Flowers Know Better. 

Litkovska launches capsule collection with Nick Knight. – Litkovska

First unveiled as part of Litkovska’s Spring-Summer 2025 collection, the capsule merges Knight’s visionary floral imagery with Lilia Litkovska’s signature craftsmanship. The collection symbolizes resilience, renewal, and the enduring power of beauty amid adversity.

Inspired by the Ukrainian concept of Zhynyva (the harvest), the capsule introduces cotton bandanas, tailored jackets, voluminous shirts, open-back vests, denim ensembles, and a statement T-shirt inscribed with Flowers Know Better. Exclusive floral prints designed for the collection will also be available for purchase.

“While in peacetime flowers decorate and bring comfort to us in our homes, the flowers that grow through the rubble or on the battlefield provide hope and demonstrate the power of beauty and nature” said Lilia.

“The goal of our collaboration is to support children of Ukraine who are suffering from this terrible war and to warm the souls of people around the world by bringing these flowers closer to their hearts.”

The collection launches with a campaign featuring Ukrainian actress Solomiia Kyrylova, known for her role in “Pamfir”, reinforcing the collection’s connection to Ukrainian culture and storytelling. 

All profits from the capsule will be donated to City of Goodness, a Ukrainian humanitarian initiative. The collaboration was facilitated by Be an Angel e.V., an international humanitarian organization led by Holger Homann.

“I abhor violence and brutality of all kinds where-ever and however it happens. If within this collaboration my work can bring any relief from, or shine a light on the cruel and inhuman suffering that this dreadful war is causing, then I will be delighted,” added Knight.

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Michael Kors-owner Capri forecasts fiscal 2026 revenue below estimates

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49 minutes ago

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February 5, 2025

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Reuters

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February 5, 2025

Capri Holdings forecast revenue well below Wall Street estimates for its fiscal 2026 on Wednesday, as the Michael Kors owner grappled with slowing demand for luxury goods and persistent declines in the Americas and Asia.

See catwalk
Michael Kors – Spring-Summer2025 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

Shares of the company, which also projected fiscal 2025 revenue below expectations, were down about 6% in premarket trading.

The global luxury goods sector has been grappling with its slowest sales in years, with a 2% fall in 2024, according to Bain & Co. estimates, hit by a property crisis in China.

Meanwhile, Capri is looking for a reset after its $8.5 billion deal with Coach-owner Tapestry to create a U.S. luxury conglomerate collapsed following opposition from the Federal Trade Commission.

Capri expects fiscal 2026 net revenue of $4.1 billion, compared with analysts’ estimates of $4.52 billion, according to data compiled by LSEG. It sees fiscal 2025 revenue of $4.4 billion, below analysts’ expectations of $4.51 billion.

© Thomson Reuters 2025 All rights reserved.



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Columbia Sportswear reports 2024 sales dip despite strong Q4

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1 hour ago

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February 5, 2025

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February 5, 2025

Columbia Sportswear announced on Tuesday net sales decreased 3 percent to $3.37 billion in 2024, compared to 2023, despite a strong fourth quarter. 

Columbia Sportswear reports 2024 sales dip despite strong Q4. – Columbia Sportswear

The Portland, Oregon-based company said net sales for the fourth quarter ended December 31, 2024, increased 3 percent to $1.1 billion, compared to fourth quarter 2023.

The increase was led by the Europe, Middle East and Africa and Latin America, Asia Pacific regions, partially offset by the United States, while sales in Canada were flat year-over-year.

By brand, Columbia sales increased 6 percent to $945 million, with Sorel down 16 percent to $97 million. Smaller brands PraNa and Mountain Hardwear fell 2 percent and increased by 5 percent, respectively.

Net income increased 10 percent to $102.6 million, or $1.80 per diluted share, compared to net income of $93.3 million, or $1.55 per diluted share, for the comparable period in 2023.

“I’m encouraged that sales returned to growth in the fourth quarter, and we expect continued growth in 2025, across most brands and regions,” said chairman, president and chief executive officer Tim Boyle.

“During the year we made substantial progress on our inventory reduction efforts, achieved cost savings through our Profit Improvement Program, and returned meaningful cash to shareholders through share buybacks and dividends. We also laid the foundation for Columbia’s Accelerate Growth Strategy, which will come to life in the seasons ahead.”

Looking ahead to 2025, net sales are expected to increase by 1 to 3 percent, ranging from $3.40 to $3.47 billion. Diluted earnings per share is expected to be $3.80 to $4.15, compared to $3.82 in 2024.

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