TFL Annual Report 2025

Throughout the year, legal, commercial, and regulatory developments shaped how companies operated and competed. From litigation and enforcement activity to deal-making and brand strategy, these shifts reflected the evolving realities of a global retail market under increasing legal and economic pressure.

This report brings together a curated selection of the most relevant developments from the latter half of the year, including significant case developments, newly-filed lawsuits, fashion and luxury M&A, international design and IP proceedings, and more. Taken together, these developments offer a clear snapshot of how law and market forces intersected across the retail landscape as 2025 comes to a close.