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‘Made in England. Rooted in History. Designed for today’… Daks and John Smedley launch knitwear collab

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They’re two important British heritage luxury brands so the combination of Daks and John Smedley for a collaboration seems already long overdue.

They’ve just launched an SS25 capsule, bringing together two brands “steeped in history and design, while championing ‘Made in England’ manufacturing”.

It’s a combo that not only marks the 2024 reopening of John Smedley’s production lines for third-party and seasonal orders but also Daks’ 130th anniversary.

The result is an initiative that “recognises their shared values and admiration for one another”, bringing together their design teams and talent to create co-branded collaborative knitwear designs. They’ve dubbed the collection ‘heritage meets innovation on British soil’.

The 12-piece collection references Daks’ archive with John Smedley “reinterpreting two iconic Daks styles, the House check and House stripe, creating exclusive variations of both that can be seen across John Smedley’s knitwear silhouettes. 

The colours throughout the capsule also reference the Daks house colours including Vicuna, navy and black, made with John Smedley’s fine gauge Sea Island Cotton.

Having just launched on their respective websites, the collection is also available in Daks stores across Asia as well as via John Smedley’s two London boutiques.

Jess McGuire Dudley, deputy managing director at John Smedley, said: “When we reopened our factory to third-party manufacturing, it was important that we collaborated with brands that truly recognised the benefit of our skills and experience of which we have honed over generations.

“Daks [was] able to work across the full-spectrum of our offering, drawing on our expertise from design and production to create a collection that is innovative in colour and design and that represents both brands’ commitment to responsible manufacturing.”

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American Eagle sees annual revenue below estimates as 2025 off to slow spending start

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March 12, 2025

American Eagle Outfitters annual revenue below expectations on Wednesday, joining other major U.S. apparel makers that expect a demand slowdown as shoppers battle the likelihood of pressured budgets again.

American Eagle

Apparel makers and retailers such as Walmart, opens new tab and Target have struck cautious expectations for the year as an uncertain economy burdened by U.S. President Donald Trump‘s seesaw tariff announcements has turned shoppers discerning on buying non-essential items.

“Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather,” said CEO Jay Schottenstein.

The company expects fiscal 2025 revenue to decline in the low-single digit percentage range, while analysts were expecting a 2.97% rise, according to data compiled by LSEG.

Shares of American Eagle rose 2% in extended trading after slightly edging past quarterly revenue estimates.

Its quarterly revenue fell to $1.61 billion, from $1.68 billion, compared to the analysts’ estimate of $1.60 billion, according to data compiled by LSEG.

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EU to impose counter tariffs on $28 billion in US goods

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Reuters

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March 12, 2025

The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.

Reuters

U.S. President Donald Trump‘s increased tariffs of 25% on all steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.

The European Commission said it will end the current suspension of tariffs on U.S. products on April 1 and will also put forward a new package of countermeasures on U.S. goods by mid-April.

The suspended tariffs apply to products ranging from boats to bourbon to motorbikes, and the EU said it would now start a two-week consultation to pick other product categories.

The new measures will target around 18 billion euros in goods, with the overall objective to ensure that the total value of the EU measures corresponds to the increased value of trade impacted by the new U.S. tariffs, the EU said.

The proposed target products include industrial and agricultural products, such as steel and aluminium, textiles, home appliances, plastics, poultry, beef, eggs, dairy, sugar and vegetables.

“Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April,” Ursula von der Leyen, the president of the European Commission, said in a statement.
“We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the U.S.,” von der Leyen added.
 

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Duty-free retailer Avolta reports annual turnover above estimate

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Reuters

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March 12, 2025

Swiss duty-free retailer Avolta reported a slightly better-than-expected annual turnover on Wednesday, helped by growth across all regions amid solid leisure demand.

Reuters

The company, which runs shops at airports, on cruise liners, in seaports, and other tourist locations worldwide, posted an annual core turnover of 13.47 billion Swiss francs ($15.24 billion), up from 12.53 billion francs a year earlier, and slightly ahead of analysts’ forecast of 13.43 billion francs in a poll by Vara Research.

In the medium term, Avolta is targeting core turnover growth of 5-7% per year at constant exchange rates, along with an annual improvement in core profit margins of 20-40 basis points.

For the medium term, Avolta is still targeting core turnover growth at constant exchange rates of 5-7% per year, and an annual improvement in core profit margins of 20-40 basis points.

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