The News In Brief
Seoul Overtakes Paris in Beauty Boom With Dealmakers Rushing In
Private equity funds are paying more attention to Korean cosmetics, with analysts expecting the M&A ‘boom’ to continue throughout the year.
Primark Says CEO Marchant Resigned Over Inappropriate Behaviour
The executive stepped down following an investigation into his behaviour toward a female employee, according to the fashion chain’s owner AB Foods.
LYS Beauty Secures Eight Figure Series A Investment
The round of funding was led by Encore Consumer Capital, the US-based firm that is banking on the Black-owned clean makeup label becoming the next Tarte.
Boohoo Group’s Biggest Shareholder Votes Against Name Change
The fast fashion business is rebranding as Debenhams, the British retailer it acquired in 2021. But has faced objections from Mike Ashley's Frasers Group, its largest shareholder.
Dsquared2 and OTB’s Staff International Spar Over Licensing Deal
Dean and Dan Caten's Y2K denim brand has terminated its licensing deal with Renzo Rosso's production and distribution arm ahead of its expiration. Staff is seeking to block the move in Italian courts.
Ted Stansfield Named New Dazed Editor-in-Chief
The magazine announced Stansfield's promotion along with a revamped editorial team following the departure of IB Kamara earlier this week.
Jean-Christophe Babin Named CEO of LVMH Watches
LVMH has appointed Jean-Christophe Babin to the helm of LVMH Watches, succeeding LVMH-scion Frédéric Arnault, the group announced in a statement on Friday. The role oversees LVMH’s watch brands TAG Heuer, Hublot, and Zenith. Babin will maintain his position as CEO of Bulgari.
Lululemon Tumbles as Tariff Uncertainty, Weak Demand Hit Forecasts
Following downbeat annual forecasts, Lululemon Athletics shares fell nearly 13 percent in premarket trading on Friday.
Lululemon Forecasts Annual Results Below Estimates
Following the forecast, the company’s shares fell about 8.1 percent in extended trading.
Italian Luxury Supplier Plans Creditor Talks As Demand Slows
Altofare Group, which oversees a group of Italian suppliers to the luxury world, has hired tax and legal services for advice on its debt, Bloomberg reported.
Moncler To Add Alexandre Arnault To Its Board After LVMH Deal
The ready-to-wear outerwear brand is set to appoint LVMH founder Bernard Arnault’s third child, Alexandre Arnault, (currently deputy CEO of Moët Hennessy) to its board after a deal with the French luxury group last year.
US Fashion Lobby Warns Trump Cuts Threaten Key Supply-Chain Programmes
The Labour Department is cancelling more than $500 million of funding for programmes that combat child labour, forced labour and human trafficking abroad, further reducing funding for international human rights efforts.