L’Oréal Joins Forces With Nykaa to Invest in Indian Beauty Brands
BOLD, the French conglomerate’s venture capital fund, will collaborate with retailer Nykaa to invest in the next generation of Indian beauty brands.
conglomerates
Retail
Arc’teryx- and Salomon-Owner Amer Sports Files for US IPO
Amer Sports, the maker of Wilson tennis rackets and Salomon ski boots, has filed confidentially for a US initial public offering that could value the group at as much as $10 billion, people familiar with the matter said.
Technology
Amazon, Shopify Strike Deal to Open Amazon Logistics to Sellers
Amazon Inc. and Shopify Inc. have struck a deal to allow merchants who pay for Shopify’s e-commerce tools to use Amazon’s logistics network.
Retail
Amazon Scraps Private Label Brands to Cut Costs, Address Antitrust Scrutiny
Amazon is shelving several private clothing brands in an attempt to reduce costs and address antitrust scrutiny. The company has decided to eliminate 27 of its 30 in-house-label clothing division, leaving it with just Amazon Essentials, Amazon Collection and Amazon Aware.
Luxury
New Gucci Designer Teases Daria Werbowy Campaign
On Saturday, new Gucci creative director Sabato De Sarno offered a glimpse of his vision for the stalled Italian megabrand, posting an image from a high jewellery campaign starring model Daria Werbowy to his personal Instagram account.
Beauty
P&G’s Price Hikes Offset Slowed China Growth
The Olay, Gillette and Pantene owner reported 2023 fiscal year net sales increased two percent to $82 billion.
China
Report: Shein Says It Reached Record Profit in First Half
The acceleration comes despite multiple lawsuits and government scrutiny in the US.
Luxury
Bluebell Takes Kering Stake in Move to Push for Change
Bluebell Capital has taken a stake in French luxury group Kering and is pushing for change, including looking at a tie-up with Cartier-owner Richemont, two sources close to the matter told Reuters on Wednesday.
Retail
Report: Shein Files for US IPO
The fast fashion retailer denied a new report that it registered for an initial public offering in New York.
Luxury
LVMH Chief Bernard Arnault Embarks on China Tour
LVMH chairman and chief executive officer Bernard Arnault has touched down in China, kicking off a flurry of interest on social media in a key market for his group’s sprawling luxury empire.
Beauty
Unilever’s New CEO May Need to Get Radical for a Company Turnaround
Hein Schumacher will soon inherit a company that has failed to deliver sustainable sales growth despite powerful brands and enviable positions in emerging markets. Schumacher must reverse that underperformance. If he can’t achieve it within the company’s current structure, he must look at a more radical solution: a breakup.
Retail
Shein Seeks to Expand Supply Chain Beyond China
Fast fashion giant Shein will strengthen its presence in Europe and Mexico, including selling more locally made products, in a bid to diversify its China-centric supply chain.
Global Markets
Why Fashion Is Betting Big on Saudi Arabia
The kingdom is set to drive growth for the industry as its economy booms, social reforms reshape consumer culture and futuristic cities sprout from the desert.
The News in Brief
Private Equity Firm Inflexion Invests in Manucurist
The European investor, which previously backed Medik8, has taken a 49 percent stake in the premium French nail line.
H&M Profit Rises on Tariff Refunds as Sales Remain Sluggish
US tariff refunds drove an increase operating profit, even as the fast-fashion retailer has struggled to deliver consistent sales growth.
Arnault Clan to Change LVMH Holding Structure to Ensure Control
Under the plan, the world’s biggest luxury group will be controlled by one entity, Agache SCA, after Christian Dior SE, one of the current holding companies of LVMH, is delisted.
JD Sports Says Nike Turnaround Is Only a Matter of Time
Dominic Platt, chief financial officer of the British sportswear retailer, told Reuters, ‘Much as there's a lot of talk about Nike, it's still the most popular brand out there and it's still a very strong brand.’
Chanel Plans to Keep Investing in China Despite Demand Downturn
CEO Leena Nair pointed to the brand’s recent renovation of its Plaza 66 boutique in Shanghai, calling China ‘a market where the clients understand sophistication, refinement.’
Meta Expected to Unveil Smart Glasses Without Camera
Smart glasses have become a target of criticism in recent months amid growing concerns they can be used to record people without their consent.
Record Global Fibre Production Pushes Fashion’s Environmental Footprint Higher
Planet-warming emissions associated with the raw materials used to make fashion, footwear and home textiles have risen 30 percent since 2019, according to a new report.