Harper’s Bazaar to Launch Philippine Edition
Hearst Magazines International is partnering with Philippine media group AGC Power Holdings to launch the fashion title in November 2027.
earnings
Luxury
Farfetch’s Next Moves
On the heels of its first profitable year, the luxury platform is continuing on with a multi-pronged strategy to gain more market share, from a potential YNAP deal to a hundred-million-plus opportunity with Reebok.
Retail
The RealReal Doesn’t Expect Profitability Until 2024
The online luxury resale platform projects it will not be adjusted EBITDA positive until the full year 2024.
China
Alibaba Reports Slowest Quarterly Revenue Growth, Misses Expectations
China’s Alibaba Group Holding Ltd on Thursday reported its slowest-ever increase in quarterly revenue since going public in 2014.
Retail
Allbirds Quarterly Revenue Rises 23%
Allbirds topped market estimates for quarterly revenue thanks to robust demand for its eco-friendly shoes from younger shoppers who are more focused on sustainability.
Retail
Puma Says China Boycott, Cost Pressures Weigh In 2022
Puma expects 2022 operating earnings of €600 million to €700 million ($679-$792 million), up from €557 million in 2021 but short of the €692 million expected by analysts, according to Refinitiv Eikon data.
Global Markets
Mercado Libre’s 2021 Net Revenue Up 78% to $7.1 Billion
Latin America’s largest e-commerce platform, announced net revenues for the fourth quarter of $2.1 billion, a year-over-year increase of 73.9 percent.
Retail
Macy’s Says No to E-Commerce Spinoff on the Heels of Strong Earnings
The department store forecasts better-than-expected annual sales after a bumper holiday season.
Fashion Week
Milan Fashion Week Is Back to Its Pre-Pandemic Glory. What’s Changed?
This week, everyone will be talking about a packed schedule in Milan, Farfetch’s results and its ongoing talks with Richemont, plus the OECD’s annual forum on responsible supply chains.
Luxury
Hermès Sales Pinched By Production Constraints
The luxury brand reports eased sales growth in the last quarter, sending shares down by 7 percent, amongst revenue acceleration of luxury competitors.
Global Markets
Havaianas Parent Alpargatas Sets Sales Record in 2021
The Brazilian flip-flop maker reported 260 million pairs of shoes sold last year, achieving global sales of $744.9 million.
Luxury
Kering’s Game Plan for 2022
With flagship brand Gucci turning a corner and the French group’s smaller brands still surging ahead, chairman François-Henri Pinault laid out a roadmap for Kering’s next chapter.
Global Markets
Russian Retail Giant Familia Sees Revenue Increase 36% in 2021
Russia’s leading off-price retailer reported annual revenue of 34 billion roubles ($453 million) last year, reflecting a 36 percent rise over 2020.
The News in Brief
Sycamore Said to Near Deal to Sell Boots
The private equity firm is nearing a deal, valued at $9 billion, to sell the UK health and beauty retail business to the Canadian branch of the billionaire Weston family, a source told Bloomberg.
Pandora Opens World’s Largest Jewellery Factory in Vietnam
The $150 million plant is the Danish jewellers first outside of Thailand, part of a bid to diversify its manufacturing footprint and boost supply-chain resilience.
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.
H&M, Adidas and Inditex Back New Effort to Address ‘Waste Colonialism’
The new initiative will explore how the industry can take responsibility for the millions of used and unsold garments exported to secondhand markets around the world.
Dyson’s $499 AI Toothbrush Sees Rocky Debut
The UK firm blamed a production error resulting in ‘water seepage’ for the disappearance of its newly launched camera-equipped toothbrush from stores.
Sephora to Launch at Marks & Spencer
‘Sephora at M&S’ will roll out in M&S stores and online starting next spring, with plans to expand to 100 locations by the end of 2028.
Novo Buys Rights to Early Obesity Pill For $2.6 Billion
The Wegovy maker has signed a deal to license an experimental obesity pill from China’s Jiangsu Hengrui Pharmaceuticals as it seeks to regain share of the global GLP-1 market.