Michael Kors and EssilorLuxottica renew licensing agreement Michael Kors has renewed its deal with EssilorLuxottica for the development, production and worldwide distribution of prescription frames and sunglasses. The two companies have collaborated on eyewear since 2015. Read more.

FitFlop unveils new collaboration with Roksanda The footwear brand has announced a new partnership with Roksanda, designed to be a "celebration of female founders and partnership." Read more.

Etro inks long-term collaboration with Coty Etro has signed an agreement with the beauty giant Coty, which will see Coty produce and distribute the brand's fragrance lines and home scent collections until at least 2040. Etro has been controlled by L Catterton since mid-2021. Read more.

Nike kickstarts cost-saving measures The sportswear giant is set to cut nearly 2% of its total workforce in an effort to reduce costs. The move is part of a wider plan of achieving £1.6bn in cost savings over the next three years. Read more.

Farfetch announces job cuts The luxury ecommerce platform is streamlining its workforce, laying off around 2,000 employees. The move is part of new owner Coupang's efforts to "operate from a position of financial strength." Read more.

OTB sees 7.2% spike in revenue The luxury fashion group has posted full-year revenues of €1.9bn, representing a 7.2% uptick on the previous year. OTB, whose brands include Diesel, Jil Sander and Maison Margiela, reported particularly strong demand in Asia, where turnover improved 74%. Read more.