
Israeli conglomerate Africa Israel Investments said on Wednesday it signed a memorandum of understanding to sell its 50 percent stake in the Gottex swimwear venture to its partners for $50 million.
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Israeli conglomerate Africa Israel Investments said on Wednesday it signed a memorandum of understanding to sell its 50 percent stake in the Gottex swimwear venture to its partners for $50 million.
Shoppers are set to storm Paris streets on Wednesday for the start of the winter sales, with department stores such as Printemps slashing prices by up to 80 percent to offload stock after grim Christmas trading.
Zara fashion store owner Inditex reported nine-month net profit up 2 percent on Thursday boosted by the aggressive store opening rate of Europe's biggest clothing retailer.
Retail sales in Spain are down around six percent and the textile industry has lost 70,000 jobs since last year, but investors can retain some hope for Spanish clothing retailer Inditex.
Israel Barragan and his wife Isabel Navarro are hoping for a good Christmas at their home and kitchenware store Piu e Piu in Madrid, but say even buoyant sales are unlikely to save the three-year-old business.
"Made in Bangladesh" is set for a makeover after the Asian nation's key apparel sector signed up a London fashion design school to help it appeal to more trendy and quality-conscious buyers.
Europe's biggest clothing retailer Inditex said on Wednesday it saw "no significant risks or uncertainties" for the second half as it reported a 3 percent rise in net profit to 406 million euros.
Zara owner Inditex said on Wednesday that Spain was "slightly below average" compared to its other markets.The retailer was asked on an analyst call about how the consumer downturn in Spain was affecting it.
Spanish retail sales fell less than expected in July after steep summer sale discounts, but analysts saw no sign they had touched bottom following 8 straight months of decline.
Italian clothing retailer Benetton Group SpA said on Friday sales growth this year would be around 6 percent, the low end of medium-term goals, after reporting a 5.1 percent rise in turnover in the first half.