The News In Brief
Kate Moss’ Cosmoss Enters Liquidation
The prestige skincare and wellness line founded by the British supermodel entered liquidation proceedings after failing to file its company accounts.
Vivienne Westwood and Rei Kawakubo Paired for Blockbuster Exhibition
The two era-defining avant-garde fashion designers will be the subject of a major exhibition at the National Gallery of Victoria in Australia.
Exclusive: Smythson of Bond Street Acquired by Oakley Capital
The British luxury lifestyle brand, known for its leather handbags, notebooks, homeware and other accessories, will look to accelerate its growth and expand internationally.
L’Oréal to Acquire Hair Care Brand Color Wow
Hair care was the second fastest-growing category at L’Oréal last year after fragrances.
Bold Management Acquires Influencer Agency The Digital Prototype
The deal bolsters Bold’s talent management capabilities in France.
Prada Credits Sandal’s Indian Legacy Amid Uproar
The Italian fashion group has acknowledged the Indian roots of a new open-toe sandal design after criticism from artisans and politicians.
Saks Gets $600 Million Lifeline as Creditors Face Steep Losses
As part of the arrangement, a group holding a slim majority of the struggling luxury retailer’s $2.2 billion of 11 percent bonds, will provide Saks an immediate $300 million loan, according to deal terms reviewed by Bloomberg.
Shein to File Confidentially for Hong Kong IPO, Sources Say
Shein aims to submit the filing confidentially as soon as this week, a source familiar with the matter told Reuters. A second source said the filing was expected to be made by Monday.
Report: Unilever to Pay $1.5 Billion For Dr. Squatch
The mass personal care brand’s sale price topped £1 billion, according to a report in the Financial Times.
Nike Fourth-Quarter Sales Fall by Less Than Expected
CEO Elliott Hill said the company is making progress in its turnaround effort, though a return to growth will take time.
Fashion’s Suppliers Want More Say on Climate Action
A new initiative led by apparel and textile manufacturers aims to give suppliers a bigger voice at the table. At present, “brands just make a statement and then expect us to pay the bill for it,’ said Bangladesh-based manufacturer Miran Ali.
Retail Emerges as Most Distressed Sector in Europe, Report Says
Retail is suffering from weak discretionary spending, margin compression and tightening credit conditions, pushing distress in the sector to the highest level since the global financial crisis in 2009.