The News In Brief
Valentino CEO Jacopo Venturini Steps Down
After five years at the helm, Venturini is leaving for personal reasons as the Italian luxury house navigates a creative reset and ownership transition.
Tapestry Plummets With Tariff Costs Weighing on Profit Outlook
Offloading Stuart Weitzman will enable Tapestry executives to spend more time and resources on increasing sales at Coach and turning around Kate Spade.
Ulta Beauty to Cease Shop-in-Shop Partnership With Target
The programme, which has run in 610 stores since 2021, will end in August 2026 when the initial partnership agreement expires.
Birkenstock’s Profit Beats Estimates on Strong Full-Price Footwear Sales
Demand for the German brand’s sandals has remained healthy even after it raised prices in response to tariffs.
Gildan to Buy Underwear Maker Hanesbrands for $2.2 Billion
Analysts expect Montreal-based Gildan’s annual revenue to rise about 5 percent to $3.4 billion this year.
S&P Downgrades Anastasia Beverly Hills After Missed Payment
The Los Angeles-based beauty brand’s credit rating has been lowered to ‘D’ by the agency.
Nykaa Revenue Surges, Profit Doubles in First Quarter
FSN E-Commerce Ventures, parent company of India's largest beauty retailer, said its revenues lifted by 24 percent on demand for newly added brands like Chanel and Supergoop.
Shopee-Owner Sea Sales Top Estimates as Online Shoppers Keep Spending
The results assuage some concerns about the prospects of the Singapore-based company’s e-commerce arm.
Swiss Sneaker Brand On Lifts Sales Forecast as Europe, Asia Fuel Demand
On raised its sales and earnings outlooks for the year after an unexpectedly strong second quarter that saw buyers in Europe and Asia snap up the Swiss sneaker maker’s high-priced footwear.
Natura Swings Back to Profit, Looks to Sell Avon International
Net profit for the three months through the end of June landed at $35.8 million, reversing the $157 million real net loss it logged from the same period last year.
Adidas Apologises for Sandal Appropriating Indigenous Mexican Design
The Oaxaca slip-on, launched five days ago by Mexican-American designer Willy Chavarria with Adidas, features a black sneaker sole topped with the leather weave typical of Mexico’s huarache sandals.
Luxury Jeweller Fabergé Sold to Tech Investor in $50 Million Deal
The renowned jeweller known for its imperial Russian Easter eggs, has been sold to technology investor Sergei Mosunov’s SMG Capital for $50 million, as its parent company Gemfields seeks to fund its mining operations.