The News In Brief
Textile Recycler Circulose Appoints Former H&M Boss Helena Helmersson to board, Names CEO
McKinsey partner Jonatan Janmark will join as chief executive, tasked with restoring stability at the company as it emerges from bankruptcy.
Louis Vuitton Opens Temporary NYC Flagship Store
The luxury brand has opened a five-story retail location complete with a café, chocolate shop and VIP suites as a temporary replacement to its Fifth Avenue flagship, which is currently undergoing renovations.
JD’s Results Fail to Impress as Chinese Economic Fears Persist
The company’s revenue grew by 5.1 percent in Q3, reflecting cautious consumer spending in China as the government’s stimulus measures begin to take effect.
Meta Fined €798 Million by EU Over Abusing Classified Ads Dominance
Meta has been slapped with a hefty fine by EU regulators for antitrust violations related to its Facebook Marketplace, marking the company’s first such penalty in Europe.
Boohoo Raises £39 Million, Urges Investors to Shun Mike Ashley
Boohoo has secured fresh capital to support its recovery plan while urging shareholders to oppose Mike Ashley’s bid for a seat on the board.
OpenAI Partners With Estée Lauder on R&D
The companies have built over 200 GPTs to develop and market new products with input from ELC employees.
The Musée des Arts Décoratifs Names Sofia Coppola Artistic Director of Its Bal d’Été
The Parisian decorative arts museum has chosen the American filmmaker to bring its first annual summer ball to life on July 6, 2025.
Burberry ‘Acting with Urgency to Course Correct’
The loss-making British megabrand is putting focus back on outerwear, adjusting pricing for bags and shoes and underscoring its heritage as part of a turnaround plan outlined by new chief executive Joshua Schulman on Thursday.
LVMH’s Sophie Brocart Heads to Chanel in New Sustainability Role
Brocart has been CEO of Patou since 2018, working to relaunch the line alongside designer Guillaume Henry.
Amazon Aims at Temu With Low-Priced Storefront
The e-commerce giant has launched Haul, a new low-cost online storefront aimed at competing with Temu, offering affordable products with longer shipping times and a $3.99 delivery fee
LVMH HR Chief Chantal Gaemperle Exits Group
The Swiss executive joined LVMH in 2007 from food & beverage conglomerate Nestlé and is leaving LVMH to “pursue new projects,” the company said in a statement.
Phillip Lim Exits 3.1 Phillip Lim
Chief executive Wen Zhou will continue to lead the brand, which she and Lim co-founded in 2005.