Audemars Piguet to Certify Its Pre-Owned Watches Following Rolex
Whereas Rolex is both a buyer and seller of its second-hand watches through official retail partners, Audemars is setting up a marketplace where sellers set prices.
Conglomerates
Latest News & Analysis
Luxury
Luxury’s Problem With Unsold Stock Comes Under the Microscope
New European regulations will soon force high-end brands to reveal all the stock they shred and burn to keep retail values high.
Beauty
Laani and Boldpurity Are Among This Year’s Estée Lauder, Nykaa Beauty&You Winners
The programme, now in its fifth year, reflect the US beauty giant’s commitment to the Indian market.
Beauty
The Indie Beauty Guide to GEO
While conglomerates like L’Oréal and Estée Lauder dominate chatbot recommendations, independent labels like Divi and Omnilux are boosting AI traffic by targeting niche queries and overhauling backend data.
Beauty
Report: L’Oréal Explores Unloading Chemical-Related Liabilities
The French company has engaged restructuring advisers to explore options for rising US legal liabilities linked to its use of talc and other chemical ingredients in some of its cosmetic products, the Wall Street Journal reported on Monday.
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Luxury
Luca de Meo Says Italy Remains Key, Rules Out Production Shift
The Kering CEO also denied any interest in buying a minority stake in Armani, adding that the group was focusing on other challenges.
Luxury
Why Luxury Shares Are (Mostly) Suffering
LVMH and Kering have seen their post-pandemic gains vanish and Hermès has taken a knock as investors question prospects for a sector rebound. Richemont’s climb, meanwhile, shows no sign of letting up.
Retail
H&M Founding Family Builds Stake as Turnaround Stumbles
The move is fueling speculation the billionaire Persson family could take the fast-fashion retailer private.
Beauty
Novo Nordisk Looks to Target Hair Loss in Consumer Push
The maker of Ozempic and Wegovy seeks to expand its direct-to-consumer pharmaceutical business as rival Eli Lilly outpaces in weight-loss drugs.
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Luxury
Botswana Seeks Bigger De Beers Stake
Diamonds have underpinned the African country's economy since their discovery there in 1967.
Sustainability
More Brands Are Betting on Protecting Nature. Now Comes the Hard Part.
As extreme weather and nature loss threaten fashion’s access to key raw materials, the industry is looking for ways to shore up supply chains. Early results show it’s possible to build resilience, but also how difficult it is to scale effective action.
Retail
Zara Owner Looks to US for Next Phase of Growth
Inditex is investing in the US as a key growth market, CEO Oscar Garcia Maceiras told Reuters, with store revamps and new openings planned across its Zara, Massimo Dutti and Bershka brands.
Beauty
Lilly’s GLP-1 Windfall to Fund Investments in Women’s Health
The pharmaceutical giant has been assembling experts and hunting for new medicines across conditions including bone health and endometriosis, sources told Bloomberg.
The News in Brief
Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
Kering Drops 12% as Luxury Braces for Tough Winter
The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
Elle Launches Moroccan Edition
Hitting newsstands in October, the magazine marks Elle’s 51st international edition, published under licence by the Geomedia group.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.
L’Oréal Sales Beat Expectations as Premium Products Surge
The French giant handily beat expectations on strong demand for hair products at salons and premium skincare from its dermatological division.