The News In Brief
Glossier Unveils Two New Fragrances
The beauty brand remixed its best-selling scent, Glossier You — and indicates more to come in the fragrance category.
Akt London Secures $7 Million to Drive US Expansion and Product Innovation
The British deodorant brand obtained funding from Felix Capital to fuel growth, forge new retail partnerships, and lead innovation in the sustainable personal care space.
Adrian Cheng Steps Down as CEO of New World Development
The Hong Kong retail magnate behind K11 and other upmarket malls across mainland China steered the property developer to an annual loss.
LVMH’s Head of Sephora, Department Store Division to Leave
Chris de Lapuente is leaving the group on Oct. 31 to retire, LVMH Moët Hennessy Louis Vuitton SE said in an internal announcement on Wednesday, confirming a report by Bloomberg News.
Buyout Firm L Catterton to Acquire Majority Stake in Pilates Chain Solidcore
The deal values the company at around $650 million and adds to L Catterton’s fitness portfolio which also includes a prior investment in the upscale gym chain Equinox.
Bath & Body Works President to Step Down, Role Eliminated
The US body care brand’s retail president Julie Rosen will leave the company on October 22.
Online Holiday Spending Projected to Rise 8.4%, Most Since 2021
US consumers are expected to spend $240.8 billion during the holiday season, marking an 8.4 percent increase from last year and highlighting the growing influence of e-commerce amidst easing inflation.
Italy Opens Greenwashing Probe Into Shein Website
Italy’s antitrust agency is investigating Shein’s parent company over potential misleading environmental claims, alleging that the fast-fashion retailer’s website may misrepresent the sustainability of its products.
China Probes Calvin Klein Owner for Alleged Xinjiang Boycott
China’s Ministry of Commerce said it will investigate US apparel maker PVH Corp. for suspected boycotting of cotton sourced from the region that the US targeted in 2021 in its Uyghur Forced Labor Prevention Act.
Breitling CEO ‘Quite Confident’ Luxury Industry Has Hit Bottom
‘The problem of the Swiss watch industry, of many brands, is that some of them are dependent on the Chinese market,’ he said in an interview with Bloomberg Television on Wednesday.
Silas Capital, Unilever Ventures Invest in Skincare Brand Oak Essentials
The premium beauty line founded by US clothing designer Jenni Kayne has taken on the investment to boost its marketing, distribution and product development efforts.
LVMH’s Head of Selective Retailing Is Set to Leave Luxury Group
Chris de Lapuente, head of LVMH’s selective retailing division that includes Sephora and Parisian department stores, is set to leave the luxury group, with an announcement expected this week.