The News In Brief
Hydrafacial Owner Appoints New CEO
Pedro Malha from Abbott Laboratories has succeeded Marla Beck, who joined The Beauty Health Company in Nov. 2023.
Sotheby’s Sells NYC Office to Weill Cornell for $510 Million
The auction house sold its former headquarters to Cornell University’s medical school, and will relocate to the Breuer building on Madison Avenue.
Louis Vuitton Awarded $584 Million in US Counterfeit Case
The judgement, one of the largest of its kind ever, stems from counterfeit goods sold at a flea market in Atlanta, Georgia.
Shein Faces Opposition to Open First Physical Stores in France
The plan to open Shein shops inside select Galeries Lafayette locations as part of a deal with the department store’s owner has met resistance from Galeries Lafayette itself.
Selfridges Blames Slump in Tourists Shopping for Luxury Goods as Sales Fall
The upmarket department store pointed to the impact of the UK axing tax-free shopping for tourists, which made it a less attractive destination for wealthy visitors.
Byredo Reintroduces $400 Night Veils Collection
The Puig-owned niche fragrance brand’s extrait de parfum line returns with a fresh design and a brand new scent by longtime Byredo nose Jérôme Epinette.
Nike Reports Surprise Revenue Rise as Hill’s Turnaround Effort Takes Root
The sportswear giant is trying to rediscover its identity after a string of weak quarters.
Prada Gets EU Approval for Versace Acquisition
The European Commission said the deal poses no competition concerns.
Saudi Arabia Establishes Investment Fund For Its Fashion Sector
The Saudi Ministry of Culture announced three funds to help support its creative economy, notably launching a $80 million Fashion Fund in partnership with Merak Capital to platform local brands and supply chains.
Ralph Lauren to Open Polo Bar in London
The company is expanding its hospitality portfolio during a moment when the American luxury label is on a hot-streak
Dunhill Names New CEO
The former De Beers CCO will join the Richemont-owned British menswear label in October, taking the reins from interim chief Andrew Holmes.
Swiss Shoemaker On Names New COO to Help Challenge Bigger Rivals
Scott Maguire has been appointed as COO as the company enters the final year of its three-year growth strategy.