Global threads manufacturing giant Coats Group is quitting its US Yarns business, resulting the closure of its Performance Materials (PM) facility based in Kings Mountain, North Carolina.
It comes after a strategic review of the wider Americas yarns business that has already resulted in the closure of the Toluca, Mexico facility in December. The review, which started in Q4 2024, concludes that the Americas Yarns business doesn’t fit with Coats’ future strategy, noting the exit from this non-core operation “will result in a positive annualised impact to both the PM and Group adjusted EBIT margins”.
The exit process is expected to complete in Q2 and Coats said it anticipates to generate a modest cash inflow, after closure costs, that will “allow management to focus on driving forward and growing other parts of the group’s attractive portfolio.
In 2024, revenues and EBIT for US Yarns was $68 million and $3 million, respectively.
Last month, Coats delivered a trading statement that highlighted “strong delivery, exciting medium-term targets with compounding cash and earnings growth”.
While the business reported a string of positives for the year ended 31 December (total revenues up 8% to $1.5 billion; apparel and footwear revenues up 13%; EBIT up 16%), it also noted that the PM business continued to drag across all North America end markets while there was also structural softness in North American Yarns.
The writing was perhaps on the wall for the future of its US PM ops in a statement that included that its Americas manufacturing footprint had been “right-sized” in Q4 with the closure of the Toluca site “to align to structural softness in North American Yarns [that will] drive immediate margin improvement”.
Six Stories, the six-year-old UK bridal and occasionwear brand, said it’s entering a “pivotal new chapter” having been growing fast in recent periods. It has now named a new head of brand, Beckie Turnbull, “to help us elevate our strategy, storytelling, and global presence”.
Six Stories
As mentioned, the company has been growing fast, closing its latest financial year “with eight-figure revenue and earning a spot on The Sunday Times 100 Fastest-Growing Companies list”.
Founder Lucy Menghini said the new appointment is part of its plan to boost its international expansion as it continues to release new collections every six weeks.
Turnbull brings over 14 years of experience in the fashion industry, with a background in brand development, marketing, and creative direction. Most recently, she’s worked with “a number of fast-growth fashion brands, helping to define brand identity and scale storytelling across multiple channels”.
“This is a huge moment for Six Stories,” said Menghini, who was formerly marketing director at Steven Bartlett’s Social Chain. “Beckie brings the clarity, creativity, and strategic thinking we need as we scale”.
The company launched in the US and Europe earlier this year and is set to debut in Australia with online retailer The Iconic. It’s also stocked by ASOS, Very, and Next, as well as luxe department store Selfridges.
Los Angeles-based menswear brand Rhude has collaborated with Milanese tire manufacturer Pirelli on an exclusive capsule clothing collection, uniting the worlds of fashion and motorsport. While Rhude has maintained a long-standing connection to sports—evident in past collaborations with brands such as Automobili Lamborghini and McLaren—this capsule marks the first official partnership between the two companies.
Rhude and Pirelli team up on a capsule collection. – Roman Koval
The 13-piece capsule captures the essence of racing—an integral part of Rhude’s creative identity. The lineup includes oversized logo T-shirts and hoodies printed with “World Champion” and “1st” graphics, as well as racing-style jackets and track pants that incorporate Pirelli’s signature color palette of black, yellow, and red. The collection also reimagines some of Rhude’s best-known pieces, such as logo-woven shorts featuring a custom Rhude graphic. Classic baseball caps are embroidered with vintage racing symbols, including flags and laurel badges.
“The collection celebrates the joining of two forces to define what it means to be a champion. Striving to be the best… what it means to make your dreams a reality and come in first at whatever your heart desires,” said Rhuigi Villaseñor, founder and creative director of Rhude. “The partnership between Rhude and Pirelli captures the meaning of excellence and always pushing to give your best—whatever the race may be.”
Rhude X Pirelli – Roman Koval
The collection launched exclusively on Rhude’s e-shop on April 18. Founded in 2015 by Filipino-American designer Rhuigi Villaseñor, Rhude is a Los Angeles-based luxury menswear brand known for fusing streetwear aesthetics with upscale construction. The collections reflect themes of modern socioeconomics and Villaseñor’s own journey since moving to the United States.
After graduating from high school, he briefly studied art history and gained early industry experience as an assistant and intern to menswear designer Shaun Samson. Despite lacking formal training in fashion design, Villaseñor attributes his technical knowledge to his upbringing with a seamstress mother, who taught him the fundamentals of garment construction. Villaseñor’s deep connection to sportswear further evolved in late 2024 when he was named chief brand officer of Como 1907, the official merchandising brand of the Italian Serie A soccer team.
Rhude with Pirelli – Roman Koval
Founded in 1872, Pirelli is a global leader in tire manufacturing and the only major player solely focused on the consumer market. Its product range spans tires and services for cars, motorcycles, and bicycles, with a strong focus on the premium and ultra-premium segments. Pirelli has also played a prominent role in motorsports since 1907 and is currently involved in over 350 international competitions. Since 2011, the company has served as the exclusive global tire partner of the Formula 1 World Championship—a partnership recently extended through at least 2027.
Vinted is collaborating with Alexa Chung, the link-up seeing the fashion influencer selling items from her personal wardrobe.
Alexa Chung – Photo: Anton Gottlob for Vinted
They’ll be available to buy exclusively on Vinted from 6pm (UK time) on 4 May but can be previewed now at https://vinted.shop/luxurynow_alexachung. A second drop of further unique items from brands like Dior and Loewe will follow in June.
The pieces in the first drop include clothing, bags, sunglasses and shoes from in-demand labels such as Prada, JW Anderson, Khaite, Magda Butrym and Galvan London, among others. Highlights include a Miu Miu embroidered bralette and a coral silk 1930s vintage dress worn by Chung at Paris Fashion Week.
She admitted that some items were tough to let go but it was time to move on and the sales will benefit Endometriosis UK. All of the sale proceeds will be donated to the charity.
Chung said: “The Dries Van Noten silver trainers are very hard to say goodbye to, as are the Saint Laurent patent black flats, which go with so many different things. I’m also selling a pink Gucci bag, which I already slightly regret. But I am doing the clearout with Vinted because my style is evolving. These items carry so many memories and we had great times together but now it is time to kiss them goodbye and the idea that they can live on in someone else’s wardrobe and be new again to them is very appealing.”
Adam Jay, CEO of Vinted Marketplace, added:“Alexa Chung is a global style icon and we are super-excited to be partnering with her.”