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Jonathan Saunders is named & Other Stories creative chief

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‘Elevation’ has been a huge trend at all market levels in recent years and one example of this has been mass-market retailers naming high-profile designers as their creative chiefs. That could mean Zac Posen at Gap, Clare Waight Keller at Uniqlo and now… Jonathan Saunders at & Other Stories.

Jonathan Saunders.Photo by Quentin Belt

The H&M Group company on Thursday named the Scottish designer to the chief creative officer role. Coming just days after the unveiling of its latest collab (with Roksanda) it underlines a doubling down on the creativity focus and original designs that have long been a feature of the chain.

The retailer said that “creativity is at the core of & Other Stories, and this appointment reinforces the brand’s dedication to continuously evolving and strengthening the creative direction”.

The CCO role is “effective in the first half of 2025” with Saunders set to “lead & Other Stories’ overall creative direction, shaping how the brand evolves and expresses itself across all touchpoints”.

The brand’s MD, Lina Söderqvist said of this: “Jonathan brings a refined blend of creativity and passion to & Other Stories and will play a key role in taking the brand into the next phase. His engagement and creative leadership, combined with a deep understanding of contemporary fashion, will be instrumental as we move forward. We look forward to working with Jonathan as we continue to evolve, and I am delighted to welcome him to us.”

And Saunders added: “I think that thoughtful, expressive design that is also accessible, is powerful in this fast-evolving industry.”

Saunders certainly has an impressive track record and despite his British background (he trained at Glasgow School of Art and Central Saint Martins in London), much of his time has been spent in New York since the middle of the last decade. 

Since 2018 he’s been running his own Saunders Studio and agency. Before that he was creative consultant at Clavin Klein for just over two years. He’s also consulted for brands such as Tiffany & Co, Chloé, Louis Vuitton, Alexander McQueen, Pucci, and Marc Jacobs. He was creative director of Pollini and spent three-and-a-half years as chief creative officer at DVF (Diane von Furstenberg).

He’d founded his own Jonathan Saunders International label in 2004 and that ran for 12 years, winning a host of celebrity fans including Michelle Obama, Kate Middleton and then-British Prime Minister David Cameron‘s wife Samantha.

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Sweden’s Klarna puts US IPO plans on hold as tariffs rattle markets, source says

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Reuters

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April 7, 2025

Swedish fintech Klarna has paused its plans for a U.S. initial public offering as President Donald Trump‘s sweeping tariffs rattle global markets, according to sources familiar with the situation.

Reuters

The decision would complicate an uneven recovery for the U.S. IPO market, as the company’s listing was seen as a potential catalyst for encouraging others to follow.

Klarna could reassess its plans if market conditions stabilize, the people said.

While hopes of a recovery were high in 2025, some of the new entrants to the IPO market have seen muted receptions.

LNG exporter Venture Global’s shares have dropped since its January debut. AI infrastructure firm CoreWeave’s shares dipped on their first day of trading, but have climbed since then.

Fears of a trade war have crushed stocks after Trump unveiled the sweeping tariffs plan this week that could weigh on the global economy.

“This kind of market instability naturally makes any company, regardless of sector, hit the brakes on near-term IPO plans,” said Lukas Muehlbauer, research analyst at IPOX.

Klarna was aiming to raise more than $1 billion at a valuation exceeding $15 billion, according to media reports.

It had 93 million active customers on its platform and operations in 26 countries as of 2024 end, according to its IPO filing.

The company had soared to a valuation of $45.6 billion in 2021, but that has tempered since as the pandemic-driven surge in online spending moderated.

Klarna did not immediately respond to a Reuters request for comment. The Wall Street Journal, which first reported the plans, said the company had decided to postpone marketing its shares, originally scheduled for this week.

Meanwhile, U.S. stocks fell sharply for a second straight session on Friday, pushing the Nasdaq toward a bear market.
 

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Nike, Lululemon soar as Trump touts productive call with Vietnam

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Bloomberg

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April 7, 2025

Shares in companies that have large manufacturing operations in Vietnam, including Nike Inc. and Lululemon Athletica Inc., soared Friday 

Nike

Nike shares erased an earlier loss to gain as much as 5.9%, while On Holding AG and Skechers USA Inc. also rose more than 6% each. Lululemon Athletica shares meanwhile jumped 3.9%. Wayfair Inc. was briefly halted for volatility after erasing a 19% decline to jump as much as 6.4%. 

Trump said on social media that he spoke to To Lam and Vietnam wants to “cut their tariffs down to zero.” The president unveiled a levy of 46% on goods imported from Vietnam, effective April 9. Apparel and shoemakers had shifted manufacturing to the southeast Asia country in recent years after Trump hit China will levies during his first term. 

About half of all Nike brand shoes and 39% of Adidas shoes are made in Vietnam, according to regulatory filings, with the country being the largest supplier of footwear for both companies. Nike has already said it expects its gross margin to decline sharply this quarter, in part due to US tariffs on products from China and Mexico. 

Nike shares are still down more than 20% on the year, while Lululemon is off more than 30%.

 



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Inditex still sees opportunities in U.S. with more stores

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Reuters

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April 7, 2025

Zara owner Inditex believes it will have opportunities to grow in the United States where it plans to open more stores, despite trade tariffs announced by President Donald Trump, Chief Executive Officer Oscar Garcia Maceiras said on Friday.

Zara

Garcia Maceiras said the company has not seen any drastic consumption changes in any of its key markets lately.

The United States is Inditex’s second-biggest market.

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