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Fashion Commission Hosts Virtual Dialogue on Empowering Creativity, Shaping Future of Saudi Fashion

The session will explore the vital role of education as a foundation for nurturing creativity and promoting sustainable growth in the Saudi fashion industry
The session will explore the vital role of education as a foundation for nurturing creativity and promoting sustainable growth in the Saudi fashion industry
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Fashion Commission Hosts Virtual Dialogue on Empowering Creativity, Shaping Future of Saudi Fashion

The session will explore the vital role of education as a foundation for nurturing creativity and promoting sustainable growth in the Saudi fashion industry
The session will explore the vital role of education as a foundation for nurturing creativity and promoting sustainable growth in the Saudi fashion industry

The Fashion Commission is hosting a virtual dialogue session on Thursday centered on empowering creativity and shaping the future of Saudi fashion.

The session is part of an ongoing series of open sessions designed to keep stakeholders and enthusiasts informed about sector developments and to foster continuous dialogue on its strategic direction.

The session will explore the vital role of education as a foundation for nurturing creativity and promoting sustainable growth in the Saudi fashion industry. It will also highlight the commission’s educational initiatives aligned with Saudi Vision 2030, aimed at strengthening the creative economy.

Participants will learn about key educational and training programs developed in partnership with local and international institutions, supporting those interested in design, textiles, handicrafts, entrepreneurship, and other essential skills driving the fashion sector.

The commission invites students, designers, entrepreneurs, academics, and fashion enthusiasts to join this open meeting - a platform for direct dialogue with officials and industry experts - accessible via a link shared on its official page on X.

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Fashion

Burberry Shows Early Signs of Recovery as 1st Quarter Sales Fall Less than Expected

FILE PHOTO: A Burberry store is seen in London, Britain, January 16, 2023. REUTERS/Peter Nicholls/File Photo
FILE PHOTO: A Burberry store is seen in London, Britain, January 16, 2023. REUTERS/Peter Nicholls/File Photo
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Burberry Shows Early Signs of Recovery as 1st Quarter Sales Fall Less than Expected

FILE PHOTO: A Burberry store is seen in London, Britain, January 16, 2023. REUTERS/Peter Nicholls/File Photo
FILE PHOTO: A Burberry store is seen in London, Britain, January 16, 2023. REUTERS/Peter Nicholls/File Photo

Burberry's retail sales fell by a less-than-expected 1% in the first quarter, it reported on Friday, in early signs of a recovery for the British luxury brand struggling with underperformance.

Shares in Burberry, which have more than doubled since September, rose 5% in early London trade.

Known for its trench coats and check pattern scarves, Burberry is using its British heritage designs to try to win back customers under the leadership of CEO Josh Schulman, who took over a year ago.

Comparable sales returned to growth in Europe, the company said, while trading in the Americas strengthened. Sales fell in China and in the rest of Asia, but the rate of decline was around half the level seen in the previous quarter.

"The improvement in our first-quarter comparable sales, strength in our core categories, and uptick in brand desirability give us conviction in the path ahead," Schulman said, adding that the autumn collection was being "well received".

Burberry has issued several profit warnings in recent years, and as part of its turnaround drive since Schulman took over, it plans to cut a fifth of its global workforce, a radical cost-cutting measure that investors have welcomed.

The 1% drop in overall comparable retail sales in the first quarter, which ended on June 28, beat analysts' forecasts for a 3% decline in a consensus provided by the company, and improved on a 6% fall in the previous quarter.

According to Reuters, analysts at Citi said the brand had reported its third consecutive quarter of like-for-like improvement since Schulman launched its new strategy last November, implying comparable sales could turn positive in the current quarter.

"In a quarter marked by further macro and geopolitical pressures and weaker tourist spending in Europe and Japan, Burberry has likely held up better than peers quarter-on-quarter," they said.