The News In Brief
Gucci Picks Florence for Next Cruise Show
The Kering flagship will show its 2026 Cruise collection in the Italian city where Gucci was founded, amid a push to reconnect the label with its heritage story and elevate its image.
China’s Booming Grey Markets Add Woes to Luxury Brands
The country’s booming second-hand luxury market is deepening concerns for the likes of LVMH as rising prices and a weakening economy push shoppers to seek cheaper alternatives.
Beauty On-Demand Provider Ruuby Raises $2.6 Million
The investment was led by Praetura Equity Finance, a Manchester-based fund dedicated to British businesses.
Report: Activist Investor Starboard Targets Neutrogena Owner Kenvue
Per The Wall Street Journal, the hedge fund has taken a stake in the ailing consumer products firm, which has seen its stock price slide more than 18 percent since going public last year.
Rianta Capital Invests In Biotech Beauty Brand
Reome, a UK-based skincare brand founded by a former beauty editor, closed a first round of fundraising led by Rianta Capital.
Moncler Stages Mega-Scale ‘Genius’ Event in Shanghai
The Italian skiwear specialist showcased its latest round of celebrity and designer collaborations in a series of pavilions in Shanghai on Saturday as it aims to shrug off luxury sector malaise.
UK Retail Sales Rise Unexpectedly as iPhone Offsets Budget Gloom
UK retail sales unexpectedly rose 0.3 percent in September, driven by strong demand for consumer technology, providing a much-needed boost for the government ahead of its upcoming budget amid concerns over rising taxes and consumer confidence.
CVS Ousts CEO Karen Lynch
CVS Health has appointed David Joyner as its new CEO, replacing Karen Lynch amid ongoing financial struggles and shareholder unrest, as the company faces rising medical costs and missed earnings targets.
P&G Reports Weak Sales Growth on Lower Beauty Demand
The company reported a second consecutive quarter of slow sales growth, with organic sales rising just 2 percent amid minimal price increases and notable weakness in key categories like beauty and baby care, particularly affected by challenges in China and the Middle East.
Molly Sims’ Yse Receives Private Equity Investment
Sims’ prestige skincare brand, aimed at Gen-X women, has received investment from early-stage private equity firm Willow Growth Partners.
Boohoo CEO Steps Down and Begins Strategic Review of Company
Boohoo Group Plc Chief Executive Officer John Lyttle is stepping down as the struggling online retailer begins a strategic review that could potentially lead to a breakup of the company.
Cucinelli Bucks Gloomy Industry Trend With Revenue Rise
As global demand for luxury goods slows, the Italian group keeps growing, helped by its focus on higher-end consumers and by a more limited exposure to China compared to its rivals.