The News In Brief
Kering Strikes Deal to Make Valentino Eyewear
The French luxury group has signed a licensing deal with Valentino to develop eyewear.
Uniqlo Founder Says US May Suffer Most From Tariffs
At an event in New York, Tadashi Yanai said it’s the US that could suffer most from the economic impact of its global trade war.
African Botanics Founders Launch Luxury Fragrance Brand
Craig and Julia Noik’s Osmé Perfume will launch with Credo Beauty as its first retailer.
Hackers Steal Private Data of Gucci, Balenciaga and McQueen Customers
Kering said the breach happened in June and that no financial information was taken.
US and China Reach Deal to Transfer TikTok Ownership, Trade Official Says
The framework agreement is a breakthrough in the long-running dispute over TikTok’s ownership.
WHO Backs Weight-Loss Drugs for Obesity
An expert committee concluded that GLP-1 drugs are integral to developing a global standard of care for obesity, according to draft guidance from the agency.
VF Corp. Sells Dickies to Bluestar Alliance
VF Corp. sold off the struggling heritage workwear label for $600 million.
Fading Labubu Frenzy Wipes $13 Billion From Pop Mart Shares
Pop Mart sees stock tumble nearly 9 percent after JPMorgan downgraded the Chinese toymaker due to concerns over fading hype for its Labubu dolls.
Elephant Tusks, Villas and a Warhol Portrait Shared Out in Armani’s Will
The will outlines Giorgio Armani’s wishes for his more singular possessions as well as the future of the luxury empire he founded.
Swatch to Hike Prices in US Due to Tariffs, CEO Says
The Swiss watch company plans to increase prices in the US between 5 percent and 15 percent, depending on the brand, because of the new US tariff.
Princess Noura bint Faisal Al Saud Named CEO of Jay3lle
The Saudi fashion leader will helm the brand launched by J.Lindeberg founder Johan Lindeberg and his daughter Blue as it embarks on international expansion.
Nudestix Acquired by Undisclosed US Firm
The Canadian makeup label declined to name its new owner, but said the partnership would unlock growth through the company’s existing retail network.