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Hermès Brought in $3.63 Billion in Sales for the First Half of the Year

Hermès’ revenues are on the rise again. The Paris-based luxury brand revealed this week that for the first half of the year, revenues were up 15 percent from the same 6-month period last year to $3.63 billion, while net profit (i.e., dollars earned after subtracting operating expenses, interest, taxes and preferred stock dividends) rose to...

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The Evolution of Walmart and its Quest to Become an e-commerce Powerhouse

For decades, Walmart solidly held the reins as the largest retailer in the world. The Bentonville, Arkansas-based multinational retail corporation’s competition trailed far behind and it could afford to focus almost exclusively on its roots as a big-box retail chain, selling low-priced staples, such as laundry detergent, paper towels, bottled water, groceries, and even apparel...

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Gucci Says It Will Be Completely Carbon Neutral by the End of September

Gucci is going carbon neutral. The Kering-owned brand announced on Thursday that it is upping the ante in its existing decade-long sustainability plan, and confirmed that it will be completely carbon neutral by the end of September. “A new era of corporate accountability is upon us and we need to be diligent in taking all steps...

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Fashion Brands’ Business Practices Undermining Progress on Ending Garment Worker Exploitation

Top fashion companies that are pledging to end worker exploitation in their global supply chains are hampering progress through their own irresponsible sourcing practices, concludes a new report on working conditions in the Southern Indian garment industry powerhouse. Short production windows, cost pressures and constant fluctuations in orders by brands and retail chains like Nike,...

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Is It Really ‘Dry Clean Only’?

Knowing the do’s and don’ts of washing your clothes can be difficult, but chemistry has got your back. With a quick lesson in textile chemistry, you’ll be able to understand the different fabrics that make up your clothes. This week on Reactions, we’ll explore whether it’s safe to wash your favorite new shirt at home...

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Capri Holdings Limited Completes Acquisition of Versace

Capri Holdings has changed its name from Michael Kors Holdings Limited (NYSE: KORS), and beginning on January 2, 2019, its New York Stock Exchange ticker symbol will be CPRI. The company has also completed its acquisition of Versace. John D. Idol, Chairman and Chief Executive Officer of Capri Holdings said, “With the acquisition of Versace,...