The News In Brief
TikTok Grabs Market Share From Shein Despite Looming Risks
Observed sales grew 153 percent for TikTok Shop during the month, compared with 26 percent for Shein and 28 percent for Temu, BSM’s Joe Hung said in a research note.
Stars Sport Black at Goth-Tinged Baftas in London
The moody theme, which has been making a comeback, dominated style at the award ceremony.
Hermès Responds to ‘Walmart Birkin’, Dupe Culture
CEO Axel Dumas called fakes “detestable” while acknowledging the grey area surrounding many copycat products.
Richemont Elevates Jewellery Bosses in Fresh Executive Shakeup
The luxury conglomerate promoted Catherine Renier, who runs the Van Cleef & Arpels jewellery brand, and Cartier chief executive Louis Ferla to Richemont’s senior executive committee.
Apple, Google Restore TikTok App After Assurances From Trump
The two companies had removed TikTok in the US last month to comply with a law passed in 2024.
Crocs Inc. Sales Rise Thanks to China and North America
The company expects continued momentum for its Crocs brand in 2025.
RFK Jr. Confirmed as Head of Health and Human Services
Kennedy was approved largely along party lines after tense confirmation hearings in which he was questioned over the possibility he could dismantle America’s vaccine infrastructure.
L’Oréal US Appoints New Head of Acquisitions
Ali Goldstein, previously US president of L’Oréal Paris, will help the conglomerate identify American brands for investment or purchase.
Michael Rider to Make Celine Debut July 6
Rider, who replaced Hedi Slimane in October, will return the brand to the runway on the eve of Paris couture week.
Steve Madden to Buy UK Shoe Brand Kurt Geiger for $360 Million
The Long Island-based company will acquire fashion and accessory label Kurt Geiger from private equity firm Cinven, with the deal expected to close by the second quarter, pending regulatory approval.
Temu, Shein See US Sales Drop After Trump Targets China Trade
The pullback in spending began a day after Trump said that parcels under $800 from China would no longer be exempt from customs duties.