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These are the stories making headlines in fashion on Wednesday.
Adidas reports record Q3 net sales
Adidas released its Q3 results on Wednesday, which showed record net sales of €6.6 billion ($7.7 billion). Footwear revenues for Adidas grew 11% on a currency-neutral basis, while apparel sales grew 16% during the quarter. Based on Q3’s positive development, Adidas raised its full-year EBIT outlook from between €1.7 billion ($1.97 billion) and €1.8 billion ($2.1 billion) to around €2.0 billion ($2.3 billion). {Adidas}
Ssense owes millions to indie fashion brands
For Who Decides War, its retail partnership with Ssense was “an accelerator,” co-founder Ev Bravado told GQ. But by the time Ssense filed for bankruptcy protection earlier this year, Ssense owed Bravado $574,058.70. Ssense entered bankruptcy protection with over $93 million CAD owed to vendors. In a list of Ssense’s known creditors published by Ernst & Young, it names hundreds of brands ranging from Auralee (owed €145,618.859) to Willy Chavarria ($50,292). The company is also listed as owing Shushu Tong $1,196,171.10, Enfants Riches Déprimés $230,961.48, Studio Nicholson €128,508.36 and Sandy Liang $87,648.90. {GQ}
Live shopping platform Whatnot valued at $11.5 billion
Whatnot, a livestream shopping start-up, has raised $225 million at an $11.5 billion valuation. The round comes less than a year after the platform raised $265 million at half that valuation, and puts its total fundraising at about $968 million. Whatnot’s latest round suggests that many investors are sold on livestream shopping, which first became popular in 2016 in China. {The New York Times/paywalled}
Etsy names new CEO
Etsy has named Chief Growth Officer Kruti Patel Goyal as its new CEO, effective Jan. 1, 2026. Goyal succeeds Josh Silverman, who spent eight years in the role. Goyal has worked at Etsy since 2011, where she started on seller and product teams before becoming chief product officer in 2019. Goyal took over as CEO of Depop in 2022, and spent nearly three years there before returning to Etsy this year. {Bloomberg/paywalled}
Courteney Cox’s Homecourt secures $8 million series A funding
Homecourt, Courteney Cox’s home-care line, has raised $8 million in series A funding. The round was led by investment firm Cult Capital, which contributed $5 million, with the remaining $3 million participation from existing investors and friends. Homecourt will use the funds to scale its five-person team, expand retail partnerships and grow its international presence. {WWD/paywalled}
How Gigi Hadid’s cashmere brand quietly reached $30 million in sales
Gigi Hadid’s cashmere label Guest in Residence has quietly become a successful business, though many shoppers seem drawn to the actual product rather than its celebrity connection. Guest in Residence was founded in 2022, and is now doing over $30 million in gross annual revenue. The sales balance is about 60% wholesale and 40% direct-to-consumer via e-commerce and its two storefronts, in New York and L.A., leaving plenty of room for the company to grow. {Puck/paywalled}
India’s garment workers are paying the price for Trump’s tariffs
Donald Trump’s tariffs of 50% on Indian goods have triggered widespread factory closures and production slowdowns across the country’s key apparel export hubs. Labor representatives say workers at U.S.-focused suppliers have faced furloughs, reduced shifts, cut pay and a freeze on overtime compensation in the months since Trump’s 50% tariff. Migrant laborers, who make up the backbone of India’s apparel workforce, have been hit hardest as they have been the first to lose their jobs. {Business of Fashion/paywalled}
Source: Fashionista.com
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