Spring sends you out on a fast-fashion spree: $50 cashmere sweaters and $2 socks, $40 sneakers and $3 T-shirts. They might fall apart after four wears, but they're probably cheaper than the postage you'd need to return them to the country in which they were made.
Woolworths Holdings Ltd. of South Africa is using a $2 billion takeover of Australia’s David Jones Ltd. to challenge fashion retailers Inditex SA, Hennes & Mauritz AB and Fast Retailing Co. in the southern hemisphere.
South Africa’s Woolworths Holdings Ltd. said its A$2.15 billion ($2 billion) agreement to buy Australian retailer David Jones Ltd. will strengthen its department store model against global competitors.
Hennes & Mauritz AB, Europe’s second-biggest clothing retailer, said the cost of investing in online expansion weighed on first-quarter earnings as it seeks to keep up with the pace of change in the industry.
Amancio Ortega Gaona, already the world’s fourth-richest person based on the success of his Zara fashion retail stores, has quietly amassed a real estate empire worth as much as $10 billion and is emerging as a formidable competitor for prime properties from London to Beverly Hills.