Connect with us

Fashion

Versace UK hit by tough market in latest year

Published

on


Published



October 14, 2025

Versace UK’s latest accounts have been filed at Companies House and they show the business in decline for the 12 months to the end of March this year.

Versace – Spring-Summer2025 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

Sales saw a “significant” decrease, dropping 21% after a 19% fall the year before, with the company saying this followed the trend of the wider luxury sector and of other companies within its group (although being bought by Prada in a €1.25 billion deal, at the time these results cover, it was part of Capri holdings, which also includes Michael Kors and Jimmy Choo).

But as well as the generally reduced global demand for luxury goods, it also cited a broader decline in UK retail sales. And it talked of increased cost pressures from inflation and higher wages that were impacting retail sentiment.

Despite all this, and considering the level of competition in the British retail sector, the group “continues to consider the UK market as a profitable business” overall and it closed the year with a solid balance sheet. In fact its current assets exceeded its liabilities by over £7 million compared to a figure of £5.3 million in the previous year.

So let’s look at the numbers. Turnover was £15.26 million, down from £19.2 million and gross profit declined to £6.57 million from £9.38 million. In percentage terms that was a fall to 43.08% from 48.84%. While the cost of sales also fell, sales per employee dropped to £331,643 from £349,072.

Operating profit fell to £280,981 from £302,875 and profit before tax was down to £36,269 from £112,895. The loss for the financial year was £275,802, a swing from a profit of £382,397 a year earlier.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Flourishing South Korean menswear aims to strengthen international standing

Published

on


Published



December 17, 2025

In 2025, South Korean fashion takes another step up on the global stage. In a sector where technological innovations are redefining production processes, South Korea stands out for its ability to turn these developments into drivers of growth and global appeal, according to a Spherical Insights study published in November.

South Korean menswear makes its mark internationally, seen here at Pitti Uomo – Pitti Uomo

According to the South Korean Ministry of Trade, Industry and Energy (MOTIE), almost $27 million is set to be invested in 2025 to strengthen the national textile value chain.

This policy forms part of a broader strategy that provides more than $19 billion in support for firms operating in industrial textiles, the creation of an Industrial Textile Alliance, and a certification centre for technical products. The aim is to lift digital transformation across the sector from 35% to 60% and increase South Korea’s share of the global markets for industrial and sustainable textiles from 2-3% to 10% by 2030.

A dynamic domestic market

These ambitions are underpinned by an already robust industry. In 2024, South Korea imported $12.37 billion worth of clothing, including $5.08 billion in menswear. Exports totalled almost $2 billion, of which $1.7 billion comprised synthetic textiles and crocheted fabrics. This momentum reinforces a domestic market characterised by diverse demand, rapid trend adoption and strong cultural influence.

South Korea invests in its textile industry
South Korea invests in its textile industry – Shutterstock

At the heart of this evolution lies the global rise of Korean menswear. Korean brands stand out for their attention to detail, mastery of cut and tailoring, and a strong appetite for exploring experimental materials, bold silhouettes and assertive colours. This stylistic approach, oscillating between minim­alism and exuberance, meets a growing demand for pieces capable of expressing individual identity, according to the study.

Exports to be developed

The trends for 2025 confirm this direction: oversized cuts, unique patterns, bright colours, sustainable materials, a fusion of traditional and contemporary styles, as well as layering, athleisure and gender-fluid fashion, are at the forefront. From oversized kimono-polos to two-tone pink shirts, the Korean aesthetic offers a balance of comfort, experimentation and sophistication.

Ader Error is one of the young South Korean brands flourishing internationally (here, its collaboration with Zara)
Ader Error is one of the young South Korean brands flourishing internationally (here, its collaboration with Zara) – Zara

This creative ecosystem is supported by a myriad of ‘flagship’ brands. Names already recognised worldwide such as Gentle Monster, Andersson Bell, Kusikohc, Hyein Seo and We11done fuel the country’s international aura through their distinct worlds, blending art, streetwear, craftsmanship and conceptual design. In 2025, other labels are taking centre stage: Ader Error and its deconstructivist streetwear, Wooyoungmi and its modern tailoring, ThisIsNeverThat and its distinctly Korean take on streetwear, as well as 87MM, Recto, Amomento, PushButton and Minjukim, whose gender-fluid offerings are gaining visibility.

By combining massive public investment, a capacity for innovation, cultural richness and creative power, South Korea is putting its fashion industry on an upward trajectory in 2025. It can be seen not only as an exporter of aesthetics, but also as a key player in technical and sustainable textiles, with the ambition of playing a central role in contemporary global fashion.

This article is an automatic translation.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Hugo Boss reveals new financing to turbocharge its updated strategy

Published

on


Published



December 16, 2025

Hugo Boss recently unveiled an ambitious expansion of its growth plan and on Tuesday the German fashion giant said it has secured a revolving credit facility to “ensure the successful execution” of the ‘Claim 5 Touchdown’ growth plan.

Hugo Boss

The €600 million loan (which replaces another loan of the same amount) “was considerably oversubscribed and aims at providing the company with additional financial flexibility”. It’s also linked to the fulfilment of clearly defined sustainability criteria.

“This successful transaction highlights the strong trust our lenders place in our company and its long-term potential,” said CFO/COO Yves Müller.

The loan has a term of five years and includes two options to extend the term by one more year in each case, plus an option to increase the credit amount by up to €300 million. 

The company unveiled its strategy in early December, saying its next phase aims to “realign, simplify, and strengthen the business”. 

In the short term it’s sacrificing sales and profits as it said that currency-adjusted group sales and profits will both decline next year. But the refreshed strategy aims to “sharpen focus, discipline, and execution across the business”. 

It now clearly has the long-term financing to put its plan into operation with the option of even more money on the table if required.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

McQueen Paris installation links to inspirational Dafydd Jones photos

Published

on


Published



December 16, 2025

McQueen is aiming to attract attention to its SS26 pre-collection launch with a special installation in its store in the heart of fashion’s capital city, Paris.

McQueen

To celebrate the launch, the label has collaborated with well-known photographer Dafydd Jones, on the installation that features some of his most definitive works, curated by McQueen’s creative director Seán McGirr.

The Rue Saint-Honoré store installation includes 26 of Jones’s original works on public display. The curated selection sits alongside the McQueen pre-collection, “for which these photographs form a core inspiration”.

The installation has just launched and will be in the store until 29 January.

So who is Dafydd Jones? The British photographer is celebrated for his “sharp, satirical depictions of social life, particularly in the 1980s. His career began with prize-winning images of Oxford’s ‘Bright Young Things’, leading to decades of work published in major titles”.

And as well as being in the McQueen store for a limited period, his photos are held in collections including the National Portrait Gallery and the V&A in London.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Trending

Copyright © Miami Select.