British jeweller Pragnell has opened an expanded showroom in its home town Stratford-upon-Avon, with the new space “dedicated to showcasing watches from leading Swiss… brands”.
It comes with an impressive address – The Embassy at Number One Wood Street – and now spans around 2,000 sq ft having expanded into adjacent properties.
The showroom also features newly developed spaces dedicated to Rolex and Patek Philippe, alongside prestigious independent high-horology brands, including Greubel Forsey, Ludovic Ballouard, and Laurent Ferrier. It also features a curated collection of Fope jewellery.
The reconfiguration of the 16th century cottages “provides a sophisticated retail space that showcases an exceptional selection of Pragnell jewellery, designed in-house and handcrafted in Great Britain, alongside a state-of-the-art workshop with viewing windows into the showroom”.
The “exquisite” interior design creates a high-quality boutique environment within which to browse while maintaining a relaxed and friendly atmosphere in the heart of Stratford-upon-Avon, the brand noted.
The opening also “significantly enhances and broadens the watch retail offering in the West Midlands region”, it said noting “many of the partner brands have very limited distribution. The Embassy has established a national multi-brand hub in the Midlands… making it accessible to a wide range of new clients”.
But the story doesn’t end there. A second phase to The Embassy “will further enhance the unique brand partner offering, with exciting plans to be announced later in the year”, it added.
Puma on Tuesday appointed Tara McRae to the role of the president of Puma North America, a role in which she will oversee the sportswear firm’s strategy in the region.
Tara McRae – Puma
With immediate effect, McRae succeedsBob Philion, who will leave the German sportswear giant after 20 years with the company and eight years as president of Puma North America. He departs to pursue opportunities outside of Puma, the company added.
A sportswear, fashion, and wellness expert, McRae most recently serves as senior vice president brand and strategy at Puma, a role she took on in 2024. Before that, she worked at British footwear brand Clarks as the global chief marketing officer and digital officer, after serving as the first-ever chief marketing officer at TB12, Tom Brady’s health and wellness brand.
Earlier in her career, McRae worked at Puma North America between 2006 and 2016, where she held different positions in the media planning and sports marketing departments before taking on marketing responsibilities for the region.
Today, she is also a strategic advisor for Relentless Consumer Partners and a non-executive board member at Kegg. Her work has been recognized in multiple leading industry awards, most notably as a member of the 2024 Forbes Entrepreneurial CMO 50 list.
“With Tara, we have appointed a leader with a great understanding of our consumers, our industry and the North American market,” said Puma chief commercial officer, Matthias Bäumer.
“I strongly believe she has the experience and the strategic mindset to help us succeed in this crucial market. I want to thank Bob for the past eight years as the president of PNA, a time during which we put Puma back on the map in North America, and I wish him all the best for the future.”
The appointment comes less than one week after Puma unexpectedly laid-off its CEO Arne Freundt, replacing its chief executive with Arthur Hoeld, an alumni from its German rival, Adidas.
Zalando, one of Europe’s largest online fashion retailers, has announced plans to cut 450 customer service jobs in Berlin as part of a major overhaul of its operations. The restructuring, reported earlier by the “Berliner Morgenpost,” is set to roll out a new internal structure by the end of summer.
Zalando
Zalando currently manages customer service through three in-house teams and multiple third-party providers. According to news agency DPA, the company plans to dissolve its internal departments—which will impact around 450 employees—and launch a new centralized division. Under this structure, Zalando will create about 200 new positions and allow affected employees to apply.
The restructured team will focus on complex customer issues, particularly fraud cases linked to third-party sellers. Zalando will continue outsourcing standard inquiries—such as delivery tracking—to external partners.
“We found that the current structure of our customer service made it difficult to uphold our quality standards consistently,” Zalando’s management said in a statement. “We have already initiated discussions with employees and their representatives to reach the best possible agreement jointly.”
Zalando
This announcement comes a month after the presentation of Zalando’s annual figures, which generated sales of 10.5 billion euros in its fiscal year 2024. This represents an increase of 4.2%, while sales volume rose by 4.5% to 15.3 billion euros. This represents a slight return to growth after two sluggish years, which had already led to several hundred job cuts. The Group is counting in particular on its BtoB business to become a growth driver in the near future.
Levi Strauss & Co. reported on Tuesday stronger-than-expected results for the first quarter ended March 2, on the back of strong direct-to-consumer and e-commerce growth.
Levi Strauss sees Q1 surge in DTC and e-commerce. – Levi Strauss
The denim giant said net revenues for the quarter reached $1.5 billion, up 3% on a reported basis compared to Q1 2024. Notably, the Levi’s brand saw an 8% organic growth globally.
By region, in the Americas, net revenues rose 6% on a reported basis, with U.S. sales climbing 8%. While Europe experienced a 5% decline on a reported basis, it posted 3% organic growth. Asia delivered a 7% reported gain and Beyond Yoga revenues also grew 10%.
Direct-to-consumer (DTC) revenues increased 9% on a reported basis, with gains seen across all regions — up 8% in the U.S., 11% in Europe, and 14% in Asia. E-commerce revenues were particularly strong, rising 13%. DTC channels accounted for 52% of total net revenues in Q1. Meanwhile, wholesale net revenues dipped 3% reported but grew 5% on an organic basis.
Diluted earnings per share from continuing operations was $0.35 compared to diluted loss per share from continuing operations of $0.03 in Q1 2024.
“We exceeded revenue and profitability expectations in Q1 marking a strong start to the year, another proof point that our transformation strategy is working,” said Michelle Gass, president and CEO of Levi Strauss & Co.
“The Levi’s brand is stronger than ever, and we will continue to fuel this momentum through a robust product pipeline and by keeping the brand firmly at the center of culture across the globe. While we recognize that we are operating in an uncertain environment, our global footprint, strong margin structure, and agile supply chain position us to navigate the balance of the year and beyond.”
Looking ahead, the company continues to expect organic net revenue growth of 3.5% to 4.5%, with reported net revenue expected to decline by 1% to 2% in 2025.
Adjusted diluted EPS is expected to be in the range of $1.20 to $1.25, inclusive of an approximate $0.20 headwind from foreign exchange and a higher tax rate.