The News In Brief
US Retail Sales Post Biggest Drop in Four Months
US retail sales declined more than anticipated last month, though clothing sales rose by 0.1 percent between April and May.
Dôen Raises Series A Funding Led by Silas Capital
The funding round marks the first time the Los Angeles-based womenswear brand raised outside capital after its initial $1 million seed round. The new capital will go towards its retail expansion.
Asos CFO to Depart After Just 14 Months
The British retailer’s director of group finance, Aaron Izzard, will replace outgoing CFO Dave Murray.
Coty Shares Surge on Report Company Looking to Sell Off Units
The American cosmetics giant's share price surged 13 percent following a report in Women's Wear Daily that the company is considering selling its luxury and consumer divisions as separate units.
Eytys Is Back From Bankruptcy
Max Schiller is relaunching the cult Swedish label after bringing on his brother, Acne Studios co-owner Mikael Schiller, as investor and chairman of the board.
AI Personal Shopping Tool Alta Raises $11 Million
The artificial intelligence-powered styling platform raised a seed round with funding from investment firms including Arnault family-backed Aglaé Ventures.
Japan’s Asics to Boost India Sportswear Production to 40%
The shift comes after new Indian restrictions forced global brands to pause imports of footwear.
Victoria’s Secret Faces Fresh Activist Fight From Barington Capital
Activist investor Barington Capital Group seeks to change Victoria’s Secret’s board, believing the company has underperformed since its 2021 spin-off.
Exclusive: Bata Group Names Panos Mytaros as New CEO
The former boss of Danish footwear brand Ecco will join Bata in September, taking over from Sandeep Kataria.
Kering Shares Surge as Renault CEO Set to Join for Turnaround
Luca de Meo will be appointed to the job in the coming days, sources told Bloomberg.
Port of LA Imports Drop 19% in May as Tariffs Hit US Businesses
The drop in port activity came as importers and retailers — especially those with business in China — grappled with the uncertainty of Trump’s trade war.
US Consumer Sentiment Jumps as Inflation Expectations Improve
The increase in the sentiment gauge is the first this year and shows less anxiety surrounding President Donald Trump’s protectionist trade policy.