Back on The Catwalk: Live Shows Return at London Fashion Week

The shows will be a welcome sight for a country hoping to bounce back after the lifting of most Covid restrictions Daniel LEAL-OLIVAS AFP/File
The shows will be a welcome sight for a country hoping to bounce back after the lifting of most Covid restrictions Daniel LEAL-OLIVAS AFP/File
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Back on The Catwalk: Live Shows Return at London Fashion Week

The shows will be a welcome sight for a country hoping to bounce back after the lifting of most Covid restrictions Daniel LEAL-OLIVAS AFP/File
The shows will be a welcome sight for a country hoping to bounce back after the lifting of most Covid restrictions Daniel LEAL-OLIVAS AFP/File

Catwalk shows resume at London Fashion Week on Friday, after previous editions of the landmark industry event were forced online by the coronavirus pandemic.

The sight of models and audiences together again will be a welcome sight for a country hoping to bounce back after lifting most restrictions in July.

A total of 28 shows are planned over five days, featuring 131 brands, including those from well-established designers such as Britain's Edward Crutchley and Serbia's Roksanda.

But there are two notable absentees: former Spice Girl turned fashion designer Victoria Beckham, and the luxury brand Burberry.

Last September, Burberry presented its spring-summer 2021 collection with a show on the streaming platform Twitch, filmed in the middle of a forest and broadcast live.

Some designers this time round are preferring to present their latest creations by appointment only, or via videos on the Fashion Week platform.

In February, London Fashion Week was held entirely online, as the country was deep into a mid-winter virus lockdown.

The London Fashion Council (LFC) said the September shows "mark the long-awaited cultural reopening of London and brings back the global fashion industry to the UK".

The event -- one of the big four international fashion weeks alongside Paris, New York and Milan -- has previously been targeted by climate change campaigners.

Direct action groups such as Extinction Rebellion have denounced what they see as the exploitative practices of "fast fashion" and the environmental costs of production.

The LFC promised the event would partly focus on "the actions people and the industry can take to act responsibly to become changemakers and create a better world".

- Bounce back -

Among the emerging talents this year is London-based Albanian designer Nensi Dojaka, who is presenting her first ever show on Friday.

A graduate of the prestigious Central Saint Martins fashion school in London, the 27-year-old designer won the LVMH 2021 prize for young talent last week.

Following on from New York and preceding Milan, London Fashion Week is dedicated to spring-summer 2022 collections and is intended to be "gender neutral".

The British fashion industry, which employed around 890,000 people in 2019, is hoping to bounce back after suffering a slump during the global health crisis.

According to data from Oxford Economics for the Creative Industries Federation and Creative England, the sector could recover faster than the UK economy as a whole.

It estimated growth of more than 25 percent by 2025, which would contribute some £132.1 billion ($180 billion, 153 billion euros) to the UK economy -- more than £28 billion more than in 2020.

In July, Burberry announced that its first quarter sales had returned to pre-pandemic levels. However, sales in Europe continued to suffer from the lack of tourists.

Last week, the London-based French designer Roland Mouret told the Financial Times it could take his brand five years to fully recover from the impact of the pandemic.



Skechers to Be Taken Private for $9.42 Billion in Biggest Footwear Industry Deal

The outside of a Skechers shoe store is seen at Times Square in New York May 2, 2014. (Reuters)
The outside of a Skechers shoe store is seen at Times Square in New York May 2, 2014. (Reuters)
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Skechers to Be Taken Private for $9.42 Billion in Biggest Footwear Industry Deal

The outside of a Skechers shoe store is seen at Times Square in New York May 2, 2014. (Reuters)
The outside of a Skechers shoe store is seen at Times Square in New York May 2, 2014. (Reuters)

Skechers has agreed to be taken private by 3G Capital for $9.42 billion in the footwear industry's biggest buyout to date, at a time when the company grapples with the impact of steep US tariffs.

Investment firm 3G Capital has offered $63 per Skechers share in cash, the footwear brand said on Monday. That represents a 28% premium to the stock's Friday close, according to Reuters calculations.

Its shares jumped 25% to $61.86 on the day, after dropping nearly 30% this year as the company withdrew its annual results forecast in April and warned of the fallout from President Donald Trump's 145% import tariff on Chinese goods.

China accounts for a bulk of imports for the brand's US business.

Skechers, alongside Nike and Adidas America, were among the companies that signed a letter from the Footwear Distributors and Retailers of America (FDRA) urging President Trump to exempt shoes from reciprocal tariffs.

American shoppers are pulling back on spending to brace for potentially higher prices due to tariffs, leading to lackluster quarterly results from several consumer-facing companies including McDonald's and Harley-Davidson .

Founded in 1992, California-based Skechers is among the world's largest footwear brands, popular for its casual athletic styles such as the "Chrome Dome" shoe. It went public in 1999 for $11 a share and logged a revenue of $8.97 billion in 2024.

Needham analyst Tom Nikic said the deal talks may have been accelerated by the volatile macro environment - driven by tariffs, weakening consumer sentiment and troubled China-US relations - and the company may have wished to navigate these challenges without being under Wall Street's scrutiny.

The deal is "very surprising" as Skechers has always been viewed as a "family business", with the founding Greenberg family highly involved in the operations, he said.

Sources told Reuters Skechers was not running an auction and the deal was bilateral as 3G Capital has had a long relationship with the Greenbergs.

CEO and founder Robert Greenberg will continue to helm the firm, while president Michael Greenberg and operating chief David Weinberg would also retain their roles.

Buyout firm 3G Capital, controlled by Brazilian billionaire financier Jorge Paulo Lemann, is best known for its investments in the food and drinks sector through companies such as Kraft Heinz.

The Skechers deal is expected to close in the third quarter of 2025 and will be financed through a combination of cash provided by 3G Capital as well as debt financing that has been committed by JPMorgan Chase Bank.