Business

UK chancellor to review de minimis rule, mitigate impact of ‘dumped’ goods

Chancellor Rachel Reeves has outlined a plan to mitigate the impact of “practices that undercut fair trade” which will include a review of the customs treatment of Low Value Imports. The law currently allows for goods valued at 135 pounds or less to be imported without paying customs duties. Some retail giants, however, have called for this to...

3 hours ago

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Fashion |Opinion

Kering faces crossroads as Gucci’s identity crisis deepens

Following a disappointing quarter, Kering is under increasing pressure as its crown jewel, Gucci, struggles through a challenging transition. Industry analysts warn that the global luxury sector is entering a period of stagnation, and Gucci, once Kering’s fastest-growing brand, appears especially vulnerable. Gucci’s 25 percent drop in Q1 sales...

3 hours ago

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Adidas exceeds expectations in first quarter

German sportswear provider Adidas AG made a surprisingly good start to the 2025 financial year, according to selected key figures published by the company on Wednesday evening. According to preliminary figures, sales in the reporting currency, adjusted for exchange rate changes, each rose by 13 percent compared to the same period last year,...

4 hours ago

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Asos reports profitability turnaround in H1 2025

UK-based online fashion retailer Asos has announced a significant turnaround in profitability for the first half of fiscal year 2025, showcasing the early success of its new commercial model implemented over the past two years. The company reported a positive adjusted EBITDA increase of approximately 60 million pounds year-on-year in the first...

4 hours ago