French magistrates have opened an inquiry into allegations four fashion groups including Uniqlo and the owner of Zara profited from forced labour of the Uyghur minority in China, a judicial source said Thursday.
Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
Coinciding with the presentation of the group’s Q1 results, Inditex has announced the “voluntary resignation” of its deputy CEO Ramón Reñón, who bids farewell to the Spanish group after almost 30 years.
Retailers and unions negotiating over a legally binding workers' safety accord in Bangladesh due to expire on Monday reached a tentative deal to extend it by three months, unions involved in discussions said.
Garment makers in nine countries spanning Asia, the Middle East and North Africa have banded together to demand better contract terms from global clothing retailers, according to a draft document seen by Reuters.
A group of investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China's Xinjiang region, highlighting the challenges for brands trying to maintain business ties.
The Spanish apparel group’s president insisted the business model is “solid” and said he is confident about the group’s recovery. If all Inditex stores will re-open in April, 2021 sales will be on par with 2019.
Retail giant Inditex hasn’t come out of the pandemic year unscathed. But the strength of its business model appears to have carried it through so far and its performance since its fiscal year ended has been encouraging