Coty Tops Estimates on Prestige Brands Boost Amid Turnaround
The US cosmetics conglomerate said launches from Marc Jacobs and Burberry helped boost revenues, though its full-year guidance is below consensus.
Pakistan
Beauty
Pakistan to Abolish ‘Period Tax’ on Sanitary Products
Pakistan’s finance minister said he intends to abolish an 18 percent sales tax on period products, in a victory for young campaigners who had taken the government to court over the charges.
Global Markets
Pakistani Fashion Brands Chase Global Diaspora
From high-street labels to haute couture houses, Pakistani brands are opening international stores as far afield as suburban Texas and London’s luxury district in a push to diversify away from the shaky domestic market where some have reached saturation point.
Global Markets
The Denim Industry’s ‘Best-Kept Secret’
Pakistan’s denim apparel exports to the US have overtaken China’s, thanks to local entrepreneurs who have built a vertically-integrated manufacturing hub in the South Asian nation.
Global Markets
Alibaba-Owned Daraz Gears Up for Battle Against Amazon
Pakistan’s largest e-commerce retail platform Daraz aims to host up to 300,000 small to medium enterprises (SMEs) in two years, to bolster its position in its home market in the face of potential competition from global giant Amazon.
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News & Analysis
Nike Sock Supplier Plans Biggest Pakistan Private Sector IPO
The company plans to raise as much as $51 million to expand its sock manufacturing capacity by around 20 percent and enter the denim business.
News & Analysis
A Denim Factory Could Hold the Key to Reviving Pakistan’s Exports
With foreign reserves declining ahead of elections in July, Pakistan’s government is under pressure to revive its exports. Could Artistic Denim provide a solution?
Global Markets
Swarovski Blings Up the Orient
The Austrian crystal maker is tapping emerging markets in the Middle East and Asia by adding luxury embellishments to traditional garments.
Retail
Billionaires’ Startup Brings Black Friday to Pakistan’s Shoppers
The billionaire Samwer brothers want to help introduce Pakistan’s shoppers to a local version of Black Friday, the November sales binge that kicks off the year-end holiday retail season in the US.
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The News in Brief
E.l.f. Beauty Sales Lift 51%
The US cosmetics giant raised its full-year sales outlook to over $2 billion as Rhode’s global expansion continues to power its revenue growth.
Shein Invests €500 Million in Europe as Customs Rules Tighten
The online retailer said it will expand its logistics hub in Poland as it grapples with stricter customs regulations in Europe.
Remington Owner Spectrum Makes Unsolicited Push to Buy Helen of Troy
The owner of consumer brands like George Foreman and Remington said it has made multiple offers to buy the publicly listed parent company of Olive and June, Drybar and Hydro Flask.
PAI Partners to Acquire Elemis from L’Occitane
The French private equity group announced on Wednesday that it will buy the UK skin and body care brand for an undisclosed sum.
Estée Lauder Sets 2030 Growth, Margin Targets as Turnaround Advances
At its capital markets event in Shanghai, leadership said it aims to deliver mid-single-digit organic net sales growth through fiscal 2030, and unveiled a new cost-cutting and strategic roadmap.
Nykaa Quarterly Profit Nearly Triples on Beauty Demand, Margin Gains
The Indian beauty retailer said on Wednesday its second-quarter profit nearly tripled, as improved operating efficiency and strong demand for premium beauty products boosted margins.
Report: CVS Plans to Break Up Healthcare Conglomerate
The US retailer is planning to spin off its pharmacy business in what would be one of the biggest-ever breakups in the healthcare industry, according to reports.