The News In Brief
Fossil India Is Said to Weigh IPO That Could Raise $400 Million
The US-based watchmaker is reportedly considering an initial public offering for its Indian arm amidst a booming market for new listings in India.
LVMH Earnings Beat Sparks Luxury Share Rally
The company’s better-than-expected earnings were buoyed by improved demand in China, sparking hope for an end to the sector’s long-running malaise.
Radical PR Opens New York Office
The new location marks the agency's first in North America.
Unilever Offloads Prestige Skincare Line Kate Somerville
The skincare label has been sold to Rare Beauty Brands in a deal set to close this year, Unilever announced on Tuesday.
Walmart Partners With OpenAI to Offer Shopping on ChatGPT
OpenAI also has deals with Etsy Inc. and Shopify Inc. to allow ChatGPT users to buy products from their merchants.
Gucci, Chloé and Loewe Fined Over $182 Million by EU for Anticompetitive Pricing Practices
The EU Commission said the luxury brands fixed resale prices, violating competition rules.
China Beauty Brand Shifts Expansion Plan as US Tensions Rise
Chinese cosmetic brand Florasis is shifting the focus of its global expansion away from the US, underscoring growing trade tensions between Washington and Beijing.
US Retailers Brace for Impact as Trump’s 100% China Tariffs Loom
The fresh levies, set to take effect Nov. 1, would come as shoppers and retailers enter the holiday shopping season.
Soaring Gold Prices Bring New Headache to Tiffany-Owner LVMH
Tariffs, a weaker dollar and the doubling of gold prices in two years have made it difficult to defend gross margins for players in the luxury goods industry.
Frieze to Launch Abu Dhabi Art Fair
The London-based group will take over and rebrand the existing Abu Dhabi Art fair as competition in the Gulf heats up.
US Consumer Sentiment Remains Subdued on Job, Price Concerns
‘Pocketbook issues like high prices and weakening job prospects remain at the forefront of consumers’ minds,’ Joanne Hsu, director of the survey, said in a statement.
Woolworths Expands Beauty Push to Kenya After Demand Jumps
In stores in Nairobi, the South African retailer will stock a range of global brands including Fenty Beauty, Chanel fragrances, Estée Lauder creams and its own WBeauty line.