Shein Outsells British Rival Asos as UK Revenue Hits $3.41 Billion
The ultra-fast fashion company said sales had been bolstered by marketing partnerships with music festivals, a pop-up shop on London’s Oxford Street and local Christmas gift events.
Conglomerates
Latest News & Analysis
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.
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.
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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.
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.
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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.
Retail
Zara Owner’s Sales Grow, but Profit Disappoints as Expenses Mount
Inditex’s sales growth accelerated at the start of the third quarter as it continued to outpace rivals, but rising depreciation charges ate into profits.
Beauty
Dior Pushes ‘Haute Wellness’ Strategy
The label’s powerful beauty division is upgrading its spa offering and hiring Pilates instructors and sleep experts as it goes head-to-head with hotels and retreats in a bid to tap the buoyant high-end wellness market.
The News in Brief
Nike, Patagonia and Lululemon Join Group Battling Microfibre Pollution
Global environmental non-profit The Nature Conservancy has launched a new industry coalition to help apparel companies tackle microfibre pollution across their supply chains.
Meta Bans Ads From TikTok on Its Apps
The policy bars ads from ByteDance, which remains in charge of key parts of TikTok, and extends to third-party advertisers running campaigns that link to TikTok.
Gap to Use Athleta Leader’s Exit to Rebuild Slumping Brand
The departure of Athleta’s CEO for Lululemon is a chance to ‘reimagine the brand’s path forward,’ Gap Inc. CEO Richard Dickson wrote in an internal memo viewed by Bloomberg.
Harvey Nichols’ Birmingham Store Will Close in January
The department store’s Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group, which purchased the chain when it was put into administration in mid-August.
Zankov Appoints Its First CEO
Jack Tobin is joining Diane von Furstenberg artistic director Henry Zankov’s namesake label as CEO and part owner.
LVMH, Kering Update Model Safety Guidelines
Nearly a decade since the luxury groups first published a charter of model protections, they are introducing new measures to protect those working in the industry.
Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.