The News In Brief
Harvey Nichols Hires Net-a-Porter Veteran Katie Benson Amid Revamp
Benson will join the department store chain as chief merchant as part of a wider push to revitalise the business under new CEO Julia Goddard.
Mike Ashley Calls for Accountability at Boohoo in Bid for Board Seat
Billionaire Mike Ashley renewed his pitch for a board seat at Boohoo Group Plc, vowing to turn around the struggling fashion retailer that he said was underperforming with “no clear strategy to halt the decline.”
US TikTok Content Creators Warn Followers to Find Them on Instagram, YouTube
American content creators on TikTok asked followers to subscribe to their channels on rival platforms like Meta-owned Instagram and Alphabet’s YouTube after a federal appeals court ruled that the social media app could be banned if it is not sold to a US-based company by Jan. 19.
Dior Opens ‘Gold House’ in Bangkok
The French mega-label unveiled a temporary concept store in the Thai capital on Dec. 8, amid a flurry of investments in the country’s fast-growing luxury market.
Puig Shares Drop After Withdrawal of Some Batches of Charlotte Tilbury Spray
Shares in Puig dropped sharply in early Friday trade after the luxury beauty and fashion company said its Charlotte Tilbury brand was voluntarily withdrawing select batches of its make-up setting spray.
US Appeals Court Upholds TikTok Law Forcing Its Sale
A U.S. federal appeals court on Friday upheld a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the United States by early next year or face a ban.
China Cotton Group Urges Uniqlo and Others to Use Xinjiang Fibre
The Japanese brand faced calls for a boycott in China after the head of its parent company said last week that it doesn’t source from the controversial region.
Lululemon Raises Annual Forecasts Betting on Robust Holiday Sales
Lululemon Athletica, opens new tab increased its full-year revenue and profit forecasts on Thursday, betting on resilient demand for its athletic wear in the US during the holiday shopping season, sending its shares up about 5 percent in extended trading.
Ulta Beauty Raises Annual Profit Forecast, Shares Rise
Cosmetics retailer Ulta Beauty raised its annual profit forecast on Thursday, signaling a bounce back in demand for perfumes and makeup during the holiday shopping season and sending its shares up more than 11.5 percent in aftermarket trading.
LVMH Fund Invests in Norwegian Luggage Brand Db Bags
LVMH’s luxury fund has taken a minority stake in the Norwegian luggage brand Db Bags
Watches of Switzerland Shares Rise on Signs of Improving Demand
The stock climbed as much as 8.5 percent in London trading, but has still fallen 26 percent this year.
FashionValet Founders Charged After Wealth Fund Losses
Founders of the Malaysian modest fashion company, Vivy Yusof and Fadzarudin Shah Anuar, both pleaded not guilty to local prosecutors’ charges of criminal breach of trust over alleged misuse of funds.