The News In Brief
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.
Swiss Watchmakers Sound Upbeat on US as Long as Stocks Last
A surge in exports in July should shield Swiss watch brands from the full impact of a new 39 percent U.S. tariff
Lululemon’s Elusive Recovery Prompts Seven Analyst Cuts in a Day
Shares hit their lowest level since the onset of the pandemic after the company slashed its outlook for both the third quarter and the full year.
WHO Adds Ozempic and Mounjaro to Essential Medicines List
The World Health Organisation has added GLP-1 drugs to its essential medicines list to expand global access and encourage generic competition.
Basquiat Sells for $22 Million in Art Auction Tied to 1MDB Fraud
Paintings and a photograph tied to the scandal were sold at auction Thursday, with a piece by Jean-Michel Basquiat fetching more than double its previous price.
India’s Higher Clothing Tax Threatens Setback for Global Fashion Brands
India’s consumer tax reform is raising duties on apparel priced above $29, unsettling global and domestic fashion players who warn higher costs could affect demand.
Gap, Old Navy Turn to Industry Heavyweights for Beauty Lines
On Thursday, the American retail giant announced a new and improved offering for its mainstay brands which include Gap and Old Navy. The Business of Beauty can reveal that former Estée Lauder Companies executive John Demsey and celebrity beauty brand incubator Maesa are involved.
Lululemon Slashes Annual Sales, Profit Forecasts Amid Demand, Tariff Woes
Shares of the company fell about 13 percent after the closing bell.
Chloé’s Chief Sustainability Officer Departs
Aude Vergne, who spent nearly decade at the luxury brand and oversaw the label’s B Corp certification has left the company.
KKR Buys South Korea’s Samhwa in $528 Million Deal
The deal comes as South Korea’s cosmetics industry gains global popularity and ranks among the world’s top cosmetics exporters.