The News In Brief
Supreme Court Signals It’s Likely to Uphold TikTok Ban in US
A majority of justices suggested they see US national security concerns as overriding the free speech interests of the companies and a group of content creators.
Report: Capri Holdings Has Pitched Prada To Acquire Versace
Prada is among the potential investors who could be evaluating a purchase of Versace, Italian daily Il Sole 24 Ore reported Friday citing market speculation.
Birkenstock Sues ‘Copycat’ Rivals Claiming Its Sandals Are Applied Art
The company faces a legal battle in Germany to have its iconic cork-soled sandals recognised as “works of applied art” and protected by copyright law after suing competitors for alleged imitation.
China’s Youngor Group Acquires Bonpoint
The Chinese fashion conglomerate has purchased the French luxury childrenswear brand from private investment firm EPI.
Shein Aims for London IPO by Mid-Year, Sources Say
A visit to China by Britain’s finance minister Rachel Reeves could help progress the regulatory approvals Shein needs, according to sources.
Uniqlo Owner Reports Strong Growth in All Markets But China
Weaker consumer spending and the warmer-than-expected weather so far in China were also reasons for the sluggish sales in the first quarter, the company said.
Billionaire Frank McCourt’s Project Liberty Proposes Bid for Tiktok’s US Assets
The consortium has proposed a formal bid to ByteDance to purchase TikTok’s US assets ahead of a January 19 deadline, aiming to keep the platform operational and avoid a potential ban.
Y/Project Is Officially Shutting Down
The Paris fashion label known for its twisted denim and ruched silhouettes under Belgian designer Glenn Martens has ceased operations.
Condé Nast Takes Over Vogue Arabia and GQ Middle East from Licensees
The publisher has appointed Amine Jreissati as head of editorial content at the regional edition of GQ and confirmed Manuel Arnaut will continue to lead Vogue Arabia under the new structure.
Lucky, Forever 21 Operator Merges With JCPenney
The joint venture was formed in an all-equity transaction between JCPenney and SPARC Group and its shareholders Simon Property Group, Brookfield Corp., Authentic Brands Group and SheIn Group Ltd., according to the release. Catalyst will be headed by former JCPenney chief executive officer Marc Rosen.
M&S Reports Strong Festive Sales but Says UK Firms Will Take Hit From Tax Rises
Clothing, home and beauty product sales grew by 1.9 percent in the 13 weeks to 28 December.
TikTok Shop Rival Whatnot Raises Funds at $5 Billion Valuation
Livestream shopping platform Whatnot Inc. raised $265 million in a funding round led by Greycroft Partners and DST Global, boosting its valuation to $4.97 billion.