The News In Brief
Estée Lauder Companies Announces Leadership Changes
The beauty conglomerate names two replacements for its North America group president, who will retire in 2025.
Garment Workers’ Protests Leave One Dead in Bangladesh
A clash between protesting garment workers and police in Bangladesh resulted in one death and over 20 injuries on Monday, as workers demanding higher wages and better conditions blocked a major highway.
Central Group Acquires Swiss Luxury Chain Globus
Thailand’s Central is taking control of Globus’ seven department stores from Rene Benko’s insolvent Signa group.
Levi Partners With Beyoncé in Exclusive Ad Campaign
The campaign will recreate some of the brand’s most memorable advertisements.
Mike Ashley’s Frasers Group Makes £83 Million Offer for Handbag Maker Mulberry
The Group has proposed an £83 million bid to acquire the luxury brand Mulberry, raising concerns about its future following a recent emergency share placement to address a significant financial loss.
Birkenstock Launches Foot Care Range
The German footwear maker is commemorating its 250th anniversary with a range of foot care products, including bath salts and a nourishing balm.
Luxury Stocks Set for Best Week in Years as China Fuels Revival
The outlook for European luxury-goods stocks has dramatically shifted in just a week, rebounding sharply and driven by renewed investor optimism following China’s commitment to boost economic stimulus.
LVMH Chairman Wins Big on China Stimulus With $17 Billion Wealth Surge
Bernard Arnault’s net worth soared Thursday to $201 billion and shares of LVMH jumped by 9.9 percent on bets that stimulus measures from China would revive the nation’s appetite for luxury goods.
Euroitalia Acquires Moschino Beauty Brand From Aeffe
Euroitalia, longtime Moschino licensee, paid $109 million to acquire the brand's beauty rights.
Swatch CEO Says ‘Nothing New’ in Buyout Talk Lifting Stock
Nick Hayek dismissed rumours about the company considering going private as “pure speculation,” despite acknowledging the appeal of such a move amid declining share prices.
Tod’s Group Appoints John Galantic CEO
The longtime Chanel executive replaces founder Diego Della Valle, who remains group chairman.
Naomi Campbell Banned From Being Charity Trustee
The model has been banned from serving as a charity trustee for five years following a Charity Commission investigation that revealed severe financial misconduct at Fashion For Relief, the poverty relief charity she led.