The News In Brief
Shiseido Stock Plummets After Growth Plan Underwhelms
The Japanese conglomerate’s share price fell to an eight-year low after a plan to offset its ailing Chinese business failed to impress investors.
Uniqlo Parent Watching for China Boycott After CEO’s Xinjiang Remarks
Fast Retailing is closely monitoring to see if demand is affected after Tadashi Yanai said the Japanese company is not using cotton from the Chinese region where suppliers are exposed to forced labour risk.
London Fashion Week to Ban Exotic Skins
Brands that want to appear on the city’s official fashion week schedule will not be allowed to use crocodile, snake or other wild animal leathers in the collections they show there, extending a ban on fur introduced last year.
Australia Bans Under-16s From Social Media
The country’s senate has approved a controversial bill banning children under the age of 16 from accessing social media apps, with fines of up to $32 million for firms who fail to prevent children accessing their platforms.
LVMH’s Bernard Arnault Tells Spy Trial He Didn’t Know About Surveillance
One of France’s former intelligence chiefs is accused of violating privacy laws while helping the world’s largest luxury group fight counterfeits and monitor left-wing activists.
Nykaa Acquires Indian Beauty Brand Earth Rhythm
The Indian beauty juggernaut has acquired the local skincare, cosmetics and personal care brand, two years after making a minority investment in it.
Nordstrom Bumps Up Annual Outlook, Sidestepping Retail Weakness
The Seattle-based department-store chain is forecasting that annual sales, including credit-card revenues, will be flat to up 1 percent versus last year.
Urban Outfitters Defies Retail Woes on Anthropologie Sales Gains
Sales at stores open at least 12 months rose 1.5 percent in the quarter ended Oct. 31, beating analysts’ expectations for 1.3 percent growth.
Online Marketing Costs Jump in Bidding War With Temu and Shein
In the United States, for example, Temu has bid on keywords including “Walmart Black Friday deals”, “Kohls Black Friday”, and “Bed Bath Beyond”, according to data on Google search ads compiled by online marketing platform Semrush for Reuters.
Lanvin to Show Peter Copping’s Debut Collection During Paris Menswear Week
After a near two-year absence, the Parisian fashion house will return to Paris Fashion Week show during menswear week in January 2025.
Michael Kors Names New CEO in Capri Leadership Shakeup
Cedric Willmote, who had served as Michael Kors’ chief executive since January 2023, will step down from the role and be by replaced Capri Holdings CEO and chairman John Idol.
Africa’s Top Clothing Retailer Pepkor Rallies as It Plans Growth Push
Pepkor Holdings soared to a three-year high as it announced a dividend that exceeded expectations and outlined plans for up to 300 new stores.