STOCKHOLM (Reuters) - Fashion firm H&M will clothe Sweden's Olympic teams at the winter and summer games, bringing a global audience for a growing line of sportswear from a company best known for budget frocks and style accessories. Hennes & Mauritz (H&M), the world's second-biggest apparel retailer after Zara owner Inditex, plans to expand its sports collection early next year to help broaden its offering and boost sales. Olympics organizers say billions of people in over 200 countries watch the games. ...
MILAN (Reuters) - Italy's Tax Commission has fined fashion designers Domenico Dolce and Stefano Gabbana 343.4 million euros ($441 million) for tax evasion. The decision confirmed to Reuters by Italy's tax agency on Tuesday relates to payments the agency says should have been made when the designers sold their D&G and Dolce & Gabbana brands to their own Luxembourg-based holding company GADO in 2004. The authorities ruled that the designers engineered the transaction to avoid paying taxes in Italy, where corporate tax rates are among the world's highest. ...
By Terril Yue Jones and Poornima Gupta BEIJING/SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook apologized to Chinese consumers on Monday and altered iPhone warranty policies in its No. 2 market after more than two weeks of condemnation in the state-run media of its after-sales service. From China Central Television to the People's Daily newspaper, government-controlled media outlets bashed the world's largest technology corporation for its "arrogance," protesting among other things that its current one-year service warranty was far shorter than in other markets. ...
By Melanie Lee SHANGHAI (Reuters) - Vera Wang, the queen of bridal couture, is abolishing the nearly $500 fee she charged Chinese brides-to-be to try on a garment at her new Shanghai bridal boutique after the move, meant to deter counterfeiters, set off a global outcry. Local and global media had criticized the surcharge as being discriminatory because it was applied only in China, at the company's Shanghai store, which staged a "soft opening" in January as the company's first bridal salon in the country, a vast potential market as the numbers of wealthy grow. ...
SYDNEY (Reuters) - Five years after the death of renowned Australian actor Heath Ledger, friends and family have joined to pay tribute to the man known to the world as the evil Joker with a t-shirt honoring him as a laidback skateboarder with a touch of the daredevil. Ledger died at the age of 28 from an accidental overdose in January, 2008. He was subsequently awarded a posthumous Oscar for his portrayal of the Joker in the Batman blockbuster "The Dark Knight". The t-shirt features a photograph of a faintly smiling Ledger posing with a skateboard by the Los Angeles River. ...
By Tom Bill LONDON (Reuters) - London's Canary Wharf district is turning to smaller office blocks, apartments and street-level shops for its next phase of development as the financial crisis brings the era of the bank-branded skyscraper to an end. The plan relates to a 20-acre site called Wood Wharf which is adjacent to the main estate and aims to tap into demand from "creative industries" like fashion, technology and the media, said Songbird Estates, the majority owner of Canary Wharf Group, alongside its full-year results on Friday. ...
By Chris Gallagher TOKYO (Reuters) - Given Kate Spade Saturday's bold designs, bright colors and creative flair, it was probably only fitting that the new lifestyle brand opened its first flagship store in fashion-obsessed Tokyo. After all, the sister label of Kate Spade New York began developing the brand with Japanese consumers in mind more than three years ago, envisaging functional designs that would strike a chord with on-the-go urbanites and expand the original brand's DNA into a more casual realm. ...
By Mike Collett-White LONDON (Reuters) - Ziggy played guitar. But as a new exhibition devoted to singer David Bowie's long and innovative career makes clear, he also wrote lyrics, checked every detail of his outlandish costumes, appeared in movies and helped design his own stage sets. "David Bowie is", which runs from March 23 to August 11, has broken box office records at London's Victoria & Albert Museum, with 50,000 advance tickets sold. ...
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