Style Capital Acquires Alessandro Dell’Acqua’s N21
Financial details of the deal for the Milan-based brand weren’t disclosed.
Columbus, United States
Beauty
Bath & Body Works Buoys Parent L Brands Amid Coronavirus Crisis
Despite a drop in total sales, digital purchases almost doubled from a year earlier to $289 million in the first quarter.
Retail
L Brands Predicts Losses Amid Victoria's Secret Sale
The deal with investment firm Sycamore Partners looks unlikely to curb the company's quarterly net loss of $192.3 million.
Retail
L Brands Has Three Months to Placate Activist Investor Barington
Victoria's Secret's parent company also confirmed that it cancelled its annual fashion show. The retailer said in May that it was rethinking the format.
Retail
The Men of Victoria’s Secret Lay Out Female-Driven Turnaround Plan
The lingerie brand has been trying to reconnect with customers who have increasingly turned to rivals that embrace female empowerment and diverse body types, like Aerie and ThirdLove
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Retail
Jeffrey Epstein the CEO's First Talking Point at L Brands Investor Meeting
Group CEO Les Wexner employed Epstein as a personal money manager for years, building a relationship close enough for Epstein to buy his Manhattan mansion before severing ties more than a decade ago.
News & Analysis
What to Look Out for at L Brands' Investor Meeting
With company shares down 35 percent this year, investors are poised to demand answers at Tuesday's meeting. Here are some of the issues likely to be on shareholders’ minds.
Retail
Victoria’s Secret Considers a Change in Marketing
L Brands' admission that Victoria’s Secret needs change marks a key shift for a company that hasn’t much strayed from its push-up-bra aesthetic, despite consumer values moving towards themes such as female empowerment and body positivity.
Retail
Victoria's Secret Slumps Again as Bath & Body Works Keeps Growing
L Brands' profit beat estimates in the latest quarter but Victoria’s Secret continues to struggle amid shifting consumer demands and the group's ties to disgraced financier Jeffrey Epstein.
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Retail
The Inner Workings of Victoria’s Secret: A Chairman and His Circle
Creative director Ed Razek is exiting Victoria’s Secret as the brand suffers from sinking sales and media reports of past links to sex offender Jeffrey Epstein. But the root of the problem may be the very thing that made the company so successful in the first place: billionaire L Brands chairman Les Wexner’s tight grip on power.
Retail
Victoria's Secret 'Angels' Mastermind, Ed Razek, Has Resigned
The executive's work at the company has been under intense scrutiny for the past year.
News & Analysis
Victoria’s Secret Hires Transgender Model Following Criticism
Amid criticism for its lack of diversity, the American lingerie seeks out its first transgender model.
News & Analysis
L Brands Confirms It Will Review Jeffrey Epstein's Role at Company
The Victoria’s Secret owner is taking legal steps to investigate the company’s relationship to Jeffrey Epstein, following his new charges.
The News in Brief
Lagos Fashion Week Continues to Flex its Pan-African Muscle
The buzzy Nigerian fashion event has attracted a cohort from across the continent, with designers from South Africa, Uganda and Morocco presenting their collections in the Nigerian city.
Estée Lauder Raises Outlook, Buoyed by Perfume Demand
Demand for the US conglomerate’s luxury fragrance brands like Le Labo, Tom Ford and By Kilian offset weaker performance from its makeup and haircare divisions.
Bangladesh Sets Up Wage Board as Garment Worker Unrest Shuts Factories
Violent protests over pay levels forced the closure of more than 500 factories over the weekend.
Premium Skincare Brand Colorescience Names New CEO
Former Kiehl’s general manager John Reed will lead the label, which was acquired by Roundtable Healthcare Partners earlier this year.
Proya Third-Quarter Revenue Grows, Profit Dented by Marketing Spend
The Chinese beauty conglomerate’s revenue grew 29.8 percent in the latest quarter, but its profit decreased by double digits due to increased promotional expenses as it expands overseas.
Michael Kors Owner Capri Soars After Raising Annual Forecasts
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
Puma Sales Slow Less Than Expected as Anta Partnership Advances
The German sportswear business is attempting to reboot its brand appeal to better compete with larger rivals Adidas and Nike.