The News In Brief
Kering Shares Rise as Market Looks Ahead
Investors looked past another weak quarter towards hopes for a turnaround under new CEO Luca De Meo.
Mexico Raises Import Taxes on Online Purchases From Shein, Temu
As pressure mounts from the US, Mexico hikes import taxes on low-cost Chinese e-commerce goods, targeting Chinese retailers such as Shein and Temu.
Adidas Says Tariffs Will Add $231 Million to Second-Half Costs
The German sportswear company said uncertainty was holding it back from increasing its annual guidance despite reporting stronger than expected second-quarter profit.
Skims Unveils First Beauty Product
Kim Kardashian’s Skims launches shapewear for the face after announcing beauty ambitions earlier this year.
The Victoria’s Secret Fashion Show Will Return in 2025
The lingerie giant used an Instagram teaser to announce that its glitzy fashion show will be back on the runway for the second year in a row following a hiatus.
Ozempic Maker Novo Nordisk’s Market Value Drops $93 Billion
The Danish company, which manufactures Ozempic and Wegovy, announced a new CEO and a slash to its 2025 growth outlook, triggering a stock price plunge.
L’Oréal Sales Increase 2.4%, Missing Expectations
The world’s biggest beauty company narrowly missed analyst expectations as travel retail and slower growth in Europe weighed on earnings.
Nike Alum Maggie Gauger Is Athleta’s New CEO
Chris Blakeslee will step down after two years in the role, amid continued efforts to revive the Gap Inc.-owned activewear brand.
India Braces for Higher US Tariffs, Eyes Broader Trade Deal, Sources Say
As a temporary measure, India anticipates US tariffs between 20-25 percent while broader trade negotiations continue.
Italian Manufacturers Say Big Luxury Must Examine Sourcing Practices
Trade group Confindustria Moda called for a ‘concrete dialogue’ on cost targets and contract terms as the luxury industry grapples with a series of scandals linking major brands to illegal sweatshops outside Milan.
P&G Growth Forecast Misses Expectations, Will Raise Prices
The American consumer goods giant said on Tuesday it will undertake moderate price increases to mitigate the effects of tariffs, and forecast annual sales growth below Wall Street expectations.
DTC Brand Quince Valued at Over $4.5 Billion
The fast-growing accessible luxury label that’s gone viral on Instagram and TikTok is raising $200 million in a new funding round that values the company at more than $4.5 billion, according to sources.