Fayed Abuse Victims Seek Up to £150 Million From Harrods
The retailer currently has a £62 million provision set aside for redress payments, but victims’ lawyers say more is likely needed.
conglomerates
Retail
Hugo Boss Board Rejects Frasers Takeover Bid
Hugo Boss AG recommended shareholders reject Frasers Group Plc’s takeover offer, saying the bid fails to capture the German fashion company’s long-term value.
Hugo Boss Board Rejects Frasers Takeover Bid
Hugo Boss AG recommended shareholders reject Frasers Group Plc’s takeover offer, saying the bid fails to capture the German fashion company’s long-term value.
Beauty
Coty and Kering Agree to Early Transfer of Gucci Beauty Licence to L’Oréal
Coty will receive approximately $400 million and continue to operate the brand until at least June 30, 2027, terminating its prior agreement a year earlier than originally signed.
Coty and Kering Agree to Early Transfer of Gucci Beauty Licence to L’Oréal
Coty will receive approximately $400 million and continue to operate the brand until at least June 30, 2027, terminating its prior agreement a year earlier than originally signed.
Luxury
Opinion: How Not to Manage Succession at LVMH
The drama over the estate of the late Italian eyewear billionaire Leonardo Del Vecchio is a real-time reminder of what could go wrong at the world’s largest luxury group, argues Bloomberg’s Andrea Felsted.
Opinion: How Not to Manage Succession at LVMH
The drama over the estate of the late Italian eyewear billionaire Leonardo Del Vecchio is a real-time reminder of what could go wrong at the world’s largest luxury group, argues Bloomberg’s Andrea Felsted.
Retail
Primark Sales Fall as AB Foods Prepares to Split Off Chain
Associated British Foods Plc said sales at the budget fashion chain dropped in the quarter as the war in Iran dented consumer confidence.
Primark Sales Fall as AB Foods Prepares to Split Off Chain
Associated British Foods Plc said sales at the budget fashion chain dropped in the quarter as the war in Iran dented consumer confidence.
Luxury
Armani Taps BCG as Fashion Group Adapts to Post-Founder Era
The Italian fashion group is considering expansion in handbags and hospitality, its overall price positioning and distribution model and a senior creative appointment at Emporio Armani, according to people familiar with the matter.
Armani Taps BCG as Fashion Group Adapts to Post-Founder Era
The Italian fashion group is considering expansion in handbags and hospitality, its overall price positioning and distribution model and a senior creative appointment at Emporio Armani, according to people familiar with the matter.
Luxury
Face to Face With Luxury Clients
After a prolonged slowdown, luxury is gradually returning to growth, led by the US and China. Drawing on a survey of more than 2,000 clients and dozens of interviews across both markets, The Business of Fashion and McKinsey & Company find in the latest edition in our State of Fashion series a base of customers with increasingly distinct local preferences that nonetheless share an overarching desire for emotional connection.
Face to Face With Luxury Clients
After a prolonged slowdown, luxury is gradually returning to growth, led by the US and China. Drawing on a survey of more than 2,000 clients and dozens of interviews across both markets, The Business of Fashion and McKinsey & Company find in the latest edition in our State of Fashion series a base of customers with increasingly distinct local preferences that nonetheless share an overarching desire for emotional connection.
Global Markets
How India’s Aditya Birla Built a Billion-Dollar Fashion Empire
The mining-to-textiles giant’s fashion arm has grown into one of India’s largest players, spanning dozens of homegrown brands and retail partnerships with global names like Reebok, Ralph Lauren and Galeries Lafayette.
How India’s Aditya Birla Built a Billion-Dollar Fashion Empire
The mining-to-textiles giant’s fashion arm has grown into one of India’s largest players, spanning dozens of homegrown brands and retail partnerships with global names like Reebok, Ralph Lauren and Galeries Lafayette.
Retail
Birkenstock Readies First Bond Deal in Five Years for Buybacks
The German footwear maker is seeking to replace existing debt and is set to raise €900 million from the sale, according to a person with knowledge of the matter.
Birkenstock Readies First Bond Deal in Five Years for Buybacks
The German footwear maker is seeking to replace existing debt and is set to raise €900 million from the sale, according to a person with knowledge of the matter.
Retail
Victoria’s Secret Shareholder Wages High-Stakes Campaign to Oust Chair
Billionaire Brett Blundy, whose investment firm is the lingerie brand’s second biggest shareholder, is waging a campaign to oust the long-term chair, setting up a showdown at the company’s annual meeting on Thursday.
Victoria’s Secret Shareholder Wages High-Stakes Campaign to Oust Chair
Billionaire Brett Blundy, whose investment firm is the lingerie brand’s second biggest shareholder, is waging a campaign to oust the long-term chair, setting up a showdown at the company’s annual meeting on Thursday.
Beauty
Novo Nordisk Looks Beyond Weight Loss to Longevity and Aesthetics
Novo's blockbuster drugs could pull it into buzzier areas of healthcare, chief executive Mike Doustdar said, as the Ozempic maker seeks to lessen its reliance on obesity and diabetes.
Novo Nordisk Looks Beyond Weight Loss to Longevity and Aesthetics
Novo's blockbuster drugs could pull it into buzzier areas of healthcare, chief executive Mike Doustdar said, as the Ozempic maker seeks to lessen its reliance on obesity and diabetes.
Luxury
OTB Takes Full Control of Viktor & Rolf
The Italian fashion group behind Diesel and Maison Margiela is taking full ownership of the avant-garde haute couture house, acquiring the remaining 30 percent it didn’t already own. Founders Viktor Horsting and Rolf Snoeren remain creative directors.
OTB Takes Full Control of Viktor & Rolf
The Italian fashion group behind Diesel and Maison Margiela is taking full ownership of the avant-garde haute couture house, acquiring the remaining 30 percent it didn’t already own. Founders Viktor Horsting and Rolf Snoeren remain creative directors.
Beauty
Estée Lauder CEO Says the Price Wasn’t Right for Puig
At a conference in Paris, Lauder CEO Stéphane de La Faverie spoke about the company’s M&A outlook and the reason its Puig merger talks fell through.
Estée Lauder CEO Says the Price Wasn’t Right for Puig
At a conference in Paris, Lauder CEO Stéphane de La Faverie spoke about the company’s M&A outlook and the reason its Puig merger talks fell through.
The News in Brief
Puig Acquires Sun Care Brand Isdin
The conglomerate bought its former partner’s 50 percent share to take full ownership of the Spanish skincare label.
Hugo Boss Chairman to Step Down Amid Frasers Group Pressure
Stephan Sturm is stepping down, as the German fashion house's largest shareholder seeks to beef up its board representation alongside its takeover bid for the brand.
CFDA’s Steven Kolb Involved in Altercation with PETA Protestors
The trade body’s president physically restrained animal rights activists after they stormed a Cos runway show at New York Fashion Week.
GQ Philippines Names Danyl Geneciran Editor in Chief
The former Vogue Man Philippines editor will helm GQ’s 23rd international title, whose debut issue features covers starring Darren Criss, Jordan Clarkson and Erwan Heussaff.
Human Made Discloses $3.6 Million Undercover Purchase Price and Long-Term Financial Targets
The Tokyo-listed company will pay $3.6 million in cash for 100 percent of Undercover, with founder Jun Takahashi relinquishing corporate duties to focus solely on design.
Arizona Accuses L’Oréal of Concealing Cancer Risks Linked to Hair Relaxers
The beauty conglomerate faces over 12,000 similar lawsuits filed by individuals that have been consolidated in a Chicago federal court.
Space NK Names New CEO, Andy Lightfoot Steps Down
Chief marketing officer Emma Simpson-Scott will succeed Lightfoot, who is leaving the UK retailer after seven years at the helm.