The News In Brief
Jeweller Pandora Trims 2025 Profitability Guidance, Warns of US Tariff Impact
The charm bracelet maker is now expecting a profit margin of around 24 percent this year, down from a previous estimate of 24.5 percent.
Temu, Shein See US Sales Drop in Week After Tariff Price Hikes
Shein posted a 23 percent week-on-week drop in US sales while Temu’s US sales fell 17 percent during the week of April 25 to May 1.
Zalando Uses AI to Speed up Marketing Campaigns, Cut Costs
The European fashion e-tailer is using generative AI to produce cheaper imagery faster for its app and website, and is developing ‘digital twins’ of models.
Wonderskin Secures $50 Million Series A Round
Known for its TikTok-viral lip stain, the UK and US makeup brand has received an influx of cash from VC firm Insight Partners, known for its investments in Quince and Prose.
Lab-Grown Leather Startup Faircraft Acquires Kering-Backed VitroLabs
VitroLabs’ primary assets are 30 patents that Faircraft said would strengthen its capacity to commercialise a technology that has been tricky to bring to market.
Coty Cuts Annual Profit Forecast
The beauty giant, which makes fragrances and cosmetics for the likes of Gucci, Chloé and Calvin Klein, said a weaker US market would weigh on its earnings.
Kering Shakes Up Leadership at Brioni and Ginori 1735
Federico Arrigoni takes over as CEO of Brioni from Mehdi Benabadji, who assumes the helm at homeware label Ginori 1735 as the group looks to strengthen its smaller brands amid wider struggles.
Shein and Temu Ramp up Advertising in UK and France As US Tariffs Hit
Shein and Temu increase digital ad spending in the UK and France, while decreasing in the US as a result of tariffs.
Golden Goose Kickstarts €480 Million Bond Sale to Refinance Debt
The luxury sportswear company plans to sell €480 million ($544 million) of senior secured floating-rate notes maturing in six years.
Zalando Beats First-Quarter Sales Forecast Despite ‘Cautious’ Consumers
Zalando exceeds first quarter revenue forecasts due to increased customers and strong spring/summer sales, maintaining its 2025 outlook.
Hugo Boss Posts Q1 Beat, Reiterates 2025 Outlook
Hugo Boss reported better than expected Q1 results and maintained its 2025 outlook despite US tariff concerns.
Thirteen Lune’s Partnership with JCPenney Ends
JCPenney said that brands under the partner shop-in-shop will still be available through its own beauty section.