The News In Brief
Primark’s Falling Sales Drag Down Shares of Owner AB Foods
The British conglomerate’s share price slumped as it reported lower sales for the budget fashion chain, which was impacted by weak demand in Europe.
Zara Owner Inditex Reports Better Start to Autumn Sales, Boosting Shares
Investors took the news as an encouraging sign while the Spanish fast-fashion giant grapples with the impact of a weak dollar and US tariffs.
Byredo Owner Puig’s First-Half Profits Lift 3.9%
The Spanish owner of Charlotte Tilbury, Paco Rabanne and more said in the run-up to June, its profits soared as sales ticked up in anticipation of tariffs.
Byoma Acquired by Bansk Group
The viral skincare brand, popular with Gen-Z for its affordable formulas and trending ingredients, is the latest to join Bansk’s growing beauty portfolio which also includes hair-care line Amika.
3.1 Phillip Lim Names Michelle Rhee Head of Design
Co-founder and creative director Phillip Lim left the brand last November.
Temu Plots Aggressive US Comeback With 60% Price Cuts
Following tariff changes and a dip in sales, the e-commerce platform is re-entering the US market with significant price cuts and increased advertising to compete with Shein.
Short Sellers Pile Pressure on Kering’s Incoming CEO
Short sellers have made their biggest bets in more than a decade against Kering, according to a Reuters analysis, putting further pressure Luca De Meo, who formally takes charge of the company today.
Maison Francis Kurkdjian Launches $28,000 Limited Edition of Baccarat Rouge 540
The brand is the latest in LVMH’s portfolio to unveil an ultra-luxury fragrance.
Stella McCartney Names Tom Mendenhall CEO
Stella McCartney has named Tom Mendenhall its new chief executive, succeeding Amandine Ohayon, who is stepping down after nearly two years at the brand’s helm.
Edward and Akua Enninful’s 72 Magazine To Star Julia Roberts on Debut Cover
Edward and Akua Enninful’s 72 Magazine To Star Julia Roberts on Debut Cover
Currentbody Owner Announces Plan for IPO
Beauty Tech Group, the UK firm that owns beauty devices including Currentbody and Ziip, is planning an initial public offering on the London Stock Exchange, which could boost the UK’s capital markets after a slow first half for IPO volumes.
Donald Trump Attends the US Open With Rolex
The watchmaker hosted the US president for the men’s championship weeks after the White House implemented a 39 percent tariff on Swiss goods.