Shein's Annual Profit Down by More than a Third

FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
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Shein's Annual Profit Down by More than a Third

FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo

Online fast-fashion retailer Shein's profit dropped by more than a third last year, adding to its challenges ahead of a planned listing on the London Stock Exchange, the Financial Times reported on Sunday.

Net profit was down almost 40% at $1 billion in 2024, the report said, citing two people with knowledge of the matter.

Shein's sales for the full year rose by 19% to $38 billion, the report said, adding that the figures were from internal projections ahead of finalised accounts, Reuters reported.

The company does not publish profit guidance but the 2024 figures were far lower than the $4.8 billion in net profit and $45 billion in sales it had projected for 2024, the report added, citing a presentation seen by the newspaper.

Reuters this month reported that Shein was set to cut its valuation in the planned initial public offering (IPO) in London by almost a quarter to about $50 billion. Bloomberg reported last week that Shein was under pressure to cut its valuation as low as $30 billion

The Financial Times has also reported that the London listing could be postponed to the second half of the year after US President Donald Trump moved to end a tax exemption enjoyed by Shein, potentially denting profitability and pushing up its prices in the United States.



Zara Taps British Designer John Galliano for Partnership

Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)
Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)
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Zara Taps British Designer John Galliano for Partnership

Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)
Signage hangs at a Zara store in Granada on March 15, 2025. (AFP)

Spanish fashion retailer Zara said Tuesday it has entered into a two-year "artistic partnership" with controversial British designer John Galliano.

The 65-year-old couturier will reconfigure pieces drawn from Zara's past collections into new designs, the company said in a statement.

"Guided by a haute couture process and approach, the collections will be unveiled each season throughout the duration of the partnership, starting in September 2026," it added without giving further details.

Zara is owned by Inditex, the world's leading low-cost fashion retailer which posted a record annual profit in 2025 for the third year running.

"To deliver fashion through that enormous platform -- that, of course, that's thrilling. And to be able to work with the kind of resources they have as well, that's equally thrilling," Galliano told fashion magazine Vogue.

Galliano, who previously headed artistry at Givenchy and Christian Dior, has dressed countless celebrities during his tenure, including Kim Kardashian, Kary Perry and Zendaya for red-carpet events.

Known for his flamboyant personality and daring designs, Galliano's career suffered a dramatic setback in 2011 following a drunken rant in a Paris bar where he hurled antisemitic and racist insults at the other patrons.

He was subsequently dismissed from Dior, underwent rehab in Switzerland and apologized for his behavior during a visit to the Central Synagogue in London.

Gibraltar-born Galliano returned to the fashion world in 2014 when he joined French label Maison Margiela as its creative director, a position he held until 2024.

With fast-growing budget fashion retailer Shein taking share at the cheaper end of the market, Zara has moved to attract more discerning shoppers and offered more expensive clothing in recent years.


Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion

Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion
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Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion

Fashion Commission Hosts Discussion on Saudi Fashion Global Expansion

The Fashion Commission organized a virtual open meeting to discuss the international expansion of Saudi fashion brands as part of its ongoing efforts to support the national fashion ecosystem and boost the presence of Saudi brands in global markets.

The meeting aimed to highlight pathways for international expansion, explore opportunities for designers and entrepreneurs in the fashion sector, and review key challenges that brands may face during growth and expansion, SPA reported.

The session is part of a series of open meetings organized by the Fashion Commission to enhance dialogue with the fashion community in Saudi Arabia, sharing knowledge and expertise that contribute to the sector’s development and enable Saudi brands to transition from local growth stages to a global presence.


Stars Deliver Modern and Colorful Looks on Oscars Red Carpet

Maria Ekerhovel, from left, Elle Fanning, Joachim Trier, center, Eskil Vogt, Anders Danielsen Lie, Renate Reinsve, and Inga Ibsdotter Lilleaas accept the award for interntional feature film for "Sentimental Value" during the Oscars on Sunday, March 15, 2026, at the Dolby Theatre in Los Angeles. (AP Photo/Chris Pizzello)
Maria Ekerhovel, from left, Elle Fanning, Joachim Trier, center, Eskil Vogt, Anders Danielsen Lie, Renate Reinsve, and Inga Ibsdotter Lilleaas accept the award for interntional feature film for "Sentimental Value" during the Oscars on Sunday, March 15, 2026, at the Dolby Theatre in Los Angeles. (AP Photo/Chris Pizzello)
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Stars Deliver Modern and Colorful Looks on Oscars Red Carpet

Maria Ekerhovel, from left, Elle Fanning, Joachim Trier, center, Eskil Vogt, Anders Danielsen Lie, Renate Reinsve, and Inga Ibsdotter Lilleaas accept the award for interntional feature film for "Sentimental Value" during the Oscars on Sunday, March 15, 2026, at the Dolby Theatre in Los Angeles. (AP Photo/Chris Pizzello)
Maria Ekerhovel, from left, Elle Fanning, Joachim Trier, center, Eskil Vogt, Anders Danielsen Lie, Renate Reinsve, and Inga Ibsdotter Lilleaas accept the award for interntional feature film for "Sentimental Value" during the Oscars on Sunday, March 15, 2026, at the Dolby Theatre in Los Angeles. (AP Photo/Chris Pizzello)

Pops of color dominated the Oscars red carpet as stars like Renate Reinsve to Chase Infiniti stunned in colorful gowns that put a modern twist on traditional Oscar’s red carpet dressing.

Reinsve radiated on the carpet in a bright red Louis Vuitton strapless dress with a high side slit and curved train. She paired the look with a red lip and her hair slicked back. For her first Academy Award ceremony, Infiniti opted for a pale lavender mermaid-style ruffle dress also by Louis Vuitton that she wore with a shimmering jeweled choker. The Hollywood darling has delivered strikingly stylish looks across award show season for her role in “One Battle After Another.”

For cinema’s biggest night, some stars marked their moment with designs that evoked old Hollywood glamour.

Rose Byrne arrived in a timeless custom black Dior gown embroidered with colorful beaded flowers. Actor Wunmi Mosaku of “Sinners” showcased classic elegance in an off-the-shoulder teal sequined Louis Vuitton dress while also showing off her baby bump.

Inspired by Grace Kelly's 1956 Oscar's dress, Jessie Buckley wore a color-blocked Chanel dress with a light pink skirt and lipstick-red shawl over her shoulders.

“This was a much more colorful carpet than past events throughout the awards season,” Halie LeSavage, Marie Claire’s senior fashion news editor, said. ”It feels like the nominees and the presenters are loosening up and really getting into a celebratory mood for the last big show of the season.”

In keeping with their colorful animated film, the cast of “KPop Demon Hunters” delivered a splash of eye-catching colors to the red carpet in their regal gowns.

Arden Cho chose Korean designer Miss Sohee with a structured black lace mermaid gown and an opulent vibrant green silk stole designed with an intricate nature scene. Co-star Ji-young Yoo posed in a two-toned blue Carolina Herrera ball gown with a romantic sweetheart-shaped neckline.

Cloud Dancers Balanced among all the colorful attire, the Pantone color of the year, Cloud Dancer, once again had its moment. Actors in off-white gowns glistened in front of the cream backdrop of the carpet. Emma Stone sparkled in her simple yet captivating opalescent paillette dress with its low back and scoop neckline, The Associated Press reported.

Elle Fanning added a romantic touch to the carpet in her white Givenchy by Sarah Burton dramatic ball gown adorned with wisteria flowers. Fanning accented her scene-stealing dress with a Cartier wisteria-shaped necklace from 1903.

Like Fanning, ELLE’s Beauty Director, Kathleen Hou said the red carpet stars sported polished and slicked back updos to draw the attention to their gowns.
Gwyneth Paltrow kept it minimalist and sexy with her Giorgio Armani Privé ivory silk strapless gown that revealed one long cut out down the sides of her dress.

Red carpet risk-taker Timothée Chalamet stayed on trend in an off-white Givenchy by Sarah Burton suit with matching white shirt, tie and shoes. He accessorized his looks with rings and sunglasses. Chalamet famously wore a butter yellow suit by the same designer last year.

“For his whole Oscars campaign, Timothée has really used fashion to tell a story, to promote his role in ‘Marty Supreme’,” Hine said. “All white suggests he’s at the end of the tour.”

Stars take flight with feathers Gowns on the carpet featured luxurious fabrics, textures and even feathers. Demi Moore emerged on the carpet in a whimsical, fully feathered, green-toned Gucci dress. Moore, who was not nominated for an Oscar, certainly stole the spotlight from her peers with her dramatic gown.

Actor Pedro Pascal integrated feathers in a more subtle way with a large, feathered brooch fastened to his custom Chanel look by Matthieu Blazy.

The latest designer to helm the French house has been the talk of the town with fashionistas lining up at Chanel stores to buy his collection.

Fashion trailblazer Teyana Taylor wore a fitted feathered white and black sheer dress on the carpet by Blazy.

“Teyana’s dress is also my front-runner for best dressed of the night because it took a lot of those Chanel codes that fashion fans really love and made them feel so fresh and so Teyana,” LeSavage said. “They’re a house that doesn’t do a lot of bodycon or sheer. It tapped into a whole bunch of different elements that felt very glamorous and very Oscars but also aligned with all of the risks that Teyana has been taking throughout her awards season run this year.”

In another take on feathers by Blazy, Nicole Kidman wore an off-white feathered gown with a corseted peplum bodice that was dipped into a cream color at the hem.

Men follow suit with tailoring While the women flaunted vivid colors on the carpet, the men subverted traditional codes of black-tie attire with their suiting.

Oscar night performer Shaboozey rarely disappoints on the carpet with his modern takes on black tie attire. The red-carpet style maven sported a Balenciaga tailcoat look with a vest and a pearl pocket chain and matching pearl earrings.

“Sinners” star Michael B Jordan brought out a golden pocket chain that accentuated his Louis Vuitton suit. His costar Miles Caton was one of the few male actors to add color to the carpet. Caton walked the carpet in an all-plum colored look from AMIRI with a matching plum jacket, tie and trousers.

“What we have been seeing in recent years is men embracing designer fashion spins on the traditional tuxedo, especially younger actors,” Samuel Hine, GQ’s global fashion correspondent said. “Their participation in the fashion world is an important part of the promotion of their personal brands.”

“Sinners” director Ryan Coogler and actor Jacob Elordi were some of the few Oscar attendees that donned the traditional black tie look of a bow tie.

Fashion made political Oscar attendees sometimes make more than fashion statements. Actors chose to make political statements on the carpet by calling for a ceasefire in Gaza with their ‘Artists4Ceasefire’ pins. The organization issued new pins with a design by Shepard Fairey that now feature a dove and a lotus flower wrapped with a barbed wire. Actor Charithra Chandran added the pin on the carpet to her lush, bright-green ball gown.

Saja Kilani of “The Voice of Hind Rajab” wore the pin with her chic black dress on the carpet.

“Our struggles are all connected, so is our liberation,” she told The Associated Press.

After the US invasion of Iraq in 2003, Javier Bardem said he wore a pin to protest the war. On Sunday he re-wore the pin, which read, “No a la Guerra” or “No to war” on the carpet. Onstage while presenting, Bardem spoke out against the current global turmoil, saying, “No to war and free Palestine.”