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Business

Veste reports 2.7 percent drop in Q1 revenue

Veste, a company in the high-end clothes and accessories segment in Brazil, reported gross revenue of 312.6 million Brazilian real in the first quarter, down 2.7 percent. The company’s adjusted gross profit of 158.2 million Brazilian real, declined 6.8 percent with adjusted gross margin of 62.9 percent, down 1.1 p.p. First quarter adjusted...

Fashion

Alternative Innovation wins 2024 Andam Innovation Prize

Materials company Alternative Innovation, which is developing a sustainable and recyclable alternative to leather and coated textiles, has been awarded the ANDAM 2024 Innovative Prize. Introduced in 2017, the Innovative Prize is now in its seventh edition and aims to support technological innovations that contribute to transforming and...

Retail |In Pictures

Bared Footwear opens first US store

Australian footwear brand Bared Footwear has opened its first US store in New York City, expanding its global footprint after 15 years of predominantly selling footwear in its home country of Australia. Located on Spring Street, in New York City’s SoHo neighbourhood, the store marks the brand’s first brick-and-mortar location outside of...

Retail

India's luxury market poised for expansion, says Barclays

India's luxury market is primed for substantial growth, according to Barclays, with forecasts indicating an annual expansion of 15 percent to 25 percent over the next seven years. This trajectory could elevate the market's value to an impressive 23 billion euros to 38 billion euros. The driving force behind this surge, Barclays notes, is India’s...