The News In Brief
Better Cotton Appoints Nick Weatherill CEO
The former executive director of the International Cocoa Initiative will take over from Alan McClay, who has led the sustainable cotton initiative for the last decade.
Sotheby’s to Auction Original Hermès Bag That Belonged to Jane Birkin
The original Hermès Birkin bag, created for Jane Birkin in 1984, is set to be auctioned by Sotheby’s in Paris on July 10.
De Beers Draws Interest From Ex-CEOs as Anglo Starts Sale
Anglo American is set to sell De Beers, with former CEOs and other mining veterans expressing interest amid a market showing signs of stabilisation after a recent crisis.
Shein Hit With Complaint From EU Consumer Group Over ‘Dark Patterns’
The consumer group BEUC has filed a complaint against Shein with the European Commission, accusing the fast-fashion retailer of using manipulation to drive sales and app engagement.
Procter & Gamble to Cut 7,000 Jobs Over Two Years
In addition to a 15 percent reduction in its non-manufacturing workforce, the American personal giant will also consider divesting brands or reducing assortments as part of a restructuring programme.
Report: L’Oréal Poised to Acquire British Skincare Brand Medik8
According to a report in the Financial Times, the French cosmetics giant is close to finalising a roughly $1.1 billion deal for the British premium skincare brand.
Longtime Beauty Editor Jane Larkworthy Dies at 62
The journalist was best known for her tenure as beauty director of W Magazine before becoming a columnist for New York Magazine and Air Mail Look.
Kiko Milano Names Drew Elliott Chief Brand Officer
Elliott, formerly at MAC Cosmetics, will assume his new role at the Italian beauty line on Sept. 1., the company told BoF exclusively.
Victoria’s Secret Says Cyber Incident Led to Temporary Website Shutdown
The sleepwear and undergarments brand detected a security incident, which led to its dayslong website outage.
Cartier Reports Some Customer Data Stolen in Cyberattack
The Richemont-owned luxury jewellery company alerted customers that its website was hacked. ‘Limited client information,’ such as names, email addresses and countries, were obtained.
Skechers Shareholder Sues Footwear Maker for Details on $9.4 Billion 3G Buyout
A Skechers shareholder is suing the company, alleging that the controlling shareholder favoured a single bidder.
Huda Kattan Buys Back Huda Beauty
Kattan has regained full ownership of the prestige cosmetics brand after buying back a minority stake held by TSG Consumer Partners.