Fast Retailing Annual Profit Jumps 32%, Beats Expectations
The Uniqlo owner hit a new record annual profit for the fifth year in a row, boosted by strong results in all regions.
Reuters
China
China’s Golden Week Travel Surge Masks Cautious Consumer Spending
Chinese travellers are booking longer holidays and venturing further afield for this year’s National Day holiday, but that may not translate into higher retail sales.
Luxury
Gucci’s New ‘Made in China’ Sneaker Breaks With Italian Tradition
Gucci said the manufacturing decision reflected particular technical needs. Some industry-watchers argue it could undermine the brand's high-end image.
Beauty
China’s Livestream ‘Lipstick King’ Confronts AI Disruption
For nearly a decade, Li Jiaqi has been the face of China’s livestream shopping industry, famed for selling billion dollars worth of beauty products. Despite slowing growth and artificial intelligence reshaping the sector, he bets live selling will still depend on people like him.
Beauty
Chinese Beauty Product Exports Surge Despite US Trade Dispute
While friction over soaring Chinese exports of cars and batteries forms the backdrop to this week's presidential summit, a boom in demand for accessories like hair extensions and acrylic nails underlines China's manufacturing prowess.
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The News in Brief
Boots Acquired by Canada’s Weston Family for $8.9 Billion
The Westons agreed on Wednesday to buy the UK's Boots from Sycamore Partners and the Pessina family, pledging to invest in the retailer's stores and online and expand healthcare services.
Lacoste Fired CEO Ahead of Paris Runway Show, Sources Say
The French tennis and lifestyle brand quietly fired its chief executive, Eric Vallat, shortly before the brand’s latest Paris fashion show, sources told Reuters.
US Luxury Spending Slows, Citi Data Shows
US credit card spending on luxury brands fell for a third consecutive month in September, according to data from Citi.
Report: L’Oréal Explores Unloading Chemical-Related Liabilities
The French company has engaged restructuring advisers to explore options for rising US legal liabilities linked to its use of talc and other chemical ingredients in some of its cosmetic products, the Wall Street Journal reported on Monday.
Indian Fast-Fashion Retailer Trent Jumps on Strong Sales Growth
Shares in the Tata Group-owned business rose nearly 11 percent on Tuesday as the success of a rapid store expansion project boosted confidence in the company’s growth outlook.
Naomi Campbell Wins Appeal Against Charity Trustee Ban
A London tribunal ruled that the misuse of funds at the charity the supermodel founded had been concealed from her.
Dutch Eyewear Chain Hans Anders Halts Sale of Meta Glasses, Citing Privacy Concerns
A growing Dutch outcry over the glasses mirrors a broader backlash against smart glasses equipped with cameras.