The News In Brief
Prada CEO Gianfranco D’Attis to Exit the Brand
Prada Group’s chief executive Andrea Guerra will take on the role of the brand’s CEO on an interim basis.
River Island Plans to Close 33 Stores, Putting Hundreds of Jobs at Risk
CEO Ben Lewis said the British fashion company would try to 'keep [job losses] to a minimum.’
Giorgio Armani to Miss Runway Shows As He’s ‘Recovering’ at Home
The Italian fashion designer will follow the shows remotely while menswear head Leo Dell’Orco will greet guests on Saturday and Monday in his stead.
Meta Launches $399 Oakley AI Smart Glasses
Meta introduces new Oakley smart glasses, expanding beyond Ray-Ban, targeting athletes and leveraging AI capabilities.
Mike Ashley’s Frasers Drops Out of Bid For Revolution Beauty
The British fashion group has decided not to go ahead with an offer to buy the ailing cosmetics brand, the company said Thursday.
Temu US Sales Plunge 25% Amid Tariff Barrage
Temu’s US sales are declining due to significant cuts in advertising spending, a direct consequence of new tariffs, while Shein’s sales have begun to recover.
China’s Extended 618 Shopping Festival Fails to Stir Excitement
E-tailers JD.com and Tmall-owner Alibaba have not disclosed the event’s overall sales figures for years, but analysts warn that a recent pause in some government subsidy programmes could weigh on consumption this month.
Swiss Watch Exports Slump in May as US Tariffs Shake Market
Exports to the US, the sector’s single-biggest market, were down just over 25 percent, underscoring the impact of President Donald Trump’s trade policies.
Dealers at Art Basel Sidestep Politics, Reap Rewards
The fair featured mostly safe, apolitical works, which appeared to play to the mood of buyers.
Nike Delays Launch for New Brand With Kim Kardashian’s Skims
Despite the delays, Nike still expects to release NikeSkims products sometime this year, Bloomberg reported.
Lululemon Is Cutting 150 Corporate Employees After Review
The impacted roles are at the retailer’s store support centres, according to a statement from the company.
Clothing Retailer Dynamite Raises Prices 9% Amid Trade Tensions
The women’s fast-fashion retailer plans to raise prices at twice the rate of inflation in the future.