On Wednesday, the European Parliament rejected the mandate requested by the Legal Affairs Committee regarding the Omnibus 1 directive, which sought to negotiate a further simplification of the rules on sustainability and due diligence.
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The vote was 309 in favour and 318 against the Committee’s approach, with 34 abstentions. On November 13, MEPs will now vote on the simplification of the rules on sustainability and due diligence.
Following this vote, discussions will be held with the various European governments. The aim is to finalise the legislation by the end of 2025.
MEPs rejected the latest amendments proposed by the Legal Affairs Committee in part because they further weakened the text. The Committee proposed applying the duty of vigilance only to companies with more than 5,000 employees and an annual turnover of at least €1.5 billion, compared with 1,000 employees and €450 million in the initial version.
In addition, the Committee argued that companies breaching these rules should not be subject to civil liability at EU level.
The duty of vigilance voted in April 2024 was already a much-diluted version of the original draft, now limiting its application to very large companies. The companies concerned are required to prevent, identify and remedy human and social rights violations (child labour, forced labour, and safety) and environmental damage (deforestation and pollution) across their value chains worldwide, including among their suppliers, subcontractors and subsidiaries.
French sporting goods retailer Decathlon is continuing its expansion across Latin America. The business has opened its first store in El Salvador, a large-format location at the Multiplaza shopping centre in the country’s capital San Salvador.
Decathlon
‘This country, known for its rich culture, its Pacific coastline ideal for surfing, and its growing passion for outdoor sports, represents a strategic and vibrant market for our mission,” said the business in a release. Decathlon also stated that it aims to “bring people together through sport to make wellbeing accessible for all.”
Decathlon’s expansion into Latin American markets has marked a milestone, boosting access to sports equipment across a range of disciplines. The business currently has a presence in Mexico, Colombia, Chile, Brazil, Panama, Costa Rica, and now El Salvador.
Latin America has become a highly attractive market for European and other international brands, with new market entries up by more than 30% over the past three years.
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Two now becomes three. Fashion accessories/jewellery membership club More Luxury Club has joined forces with Cocoon Club and My Wardrobe HQ to operate under an ever-widening Cocoon Group umbrella to become a “circular luxury powerhouse”.
Image: More Luxury Club
With More Luxury Club founded “to redefine how people access and enjoy luxury goods, building a loyal community passionate about quality, longevity, and conscious consumption”, it dovetails neatly with the Cocoon Group ethos.
Cynthia Morrow, co-founder of More Luxury Club, explained: “Cocoon shares our belief that the future of luxury lies in sustainability, circularity, and community – and we are proud that our members will continue this journey within a company that shares our values and long-term vision”.
She noted that it’s an integration that “marks an important milestone for the circular fashion sector”.
Cocoon Group’s overall mission is “to build the leading ecosystem for circular luxury”, expanded benefits including access to designer rental, resale, subscription models and exclusive brand collaborations – “all within one unified platform”.
Following its recent merger with My Wardrobe HQ, Cocoon said it has become a consolidating force in the circular luxury sector, bringing together businesses such as Rotaro, Cercle, and now More Luxury Club, “positioning Cocoon as the definitive category leader”, offering the “most comprehensive, sustainable, and innovative way to access and enjoy luxury fashion in the UK”.
Cocoon Group CEO Coco Baraer Panazza, added: “Our mission is to build the most forward-thinking and sustainable way for people to enjoy luxury… as we continue to scale a smarter, more inclusive and more circular future for fashion together.”
Kering used to have a minority stake in Cocoon (which it took in 2021) but it exited that stake earlier this year.
What’s been a good year for Outlet Shopping at The O2 has just got better. The centre, linked closely to the O2 entertainment arena in the Greenwich Peninsular, southeast London, has opened two more new stores — fashion retailer TM Lewin and jewellery brand Lovisa — while also adding a recently-upsized unit for sportswear brand New Balance.
Image: TM Lewin
It all adds up to “growing momentum” for an outlet shopping destination that’s “on track for a stellar end to 2025” having enjoyed a 23% uplift in sales throughout November vs 2024, and footfall up 24% across the whole scheme, it said.
British heritage brand TM Lewin’s 1,827 sq ft store becomes the retailer’s only outlet location after returning to physical retail earlier this year. The space offers the brand’s range of shirts, suits, and accessories.
Dan Ferris, managing director at TM Lewin, said: “Our re-entry into physical retail has been a big move for us this year, and we have carefully selected locations where we believe our stores can get the best experience, regular customers, and be part of a community.”
Also making its outlet debut, Lovisa will open a 1,722 sq ft unit, adjacent to fashion retailers Dune London and Kurt Geiger, becoming the destination’s second dedicated jewellery retailer. It’s arrival supports the venue as a draw for accessories with demand “up 38% over November vs the same period in 2024”.
The store will offer its full range of necklaces, earrings and rings as well as its piercing facilities.
Long-standing tenant New Balance is also set to reinvest at the outlet, upsizing into a new 3,129 sq ft unit. The space will sport the brand’s new store concept, with additional space for wider stock collections.
Louisa Dalgleish, leasing director at Outlet Shopping at The O2, added: “As a destination already full of leading retail, the fact that we continue to attract such strong brands for their outlet debuts speaks volumes about our sustained momentum. Our success is a direct result of our collaborative landlord approach and the strength of our tenant mix, and our positive results throughout November are a clear indication that things show no sign of slowing down, with us remaining firmly front of mind for new entries into the outlet market.”