Naomi Campbell Wins Appeal Against Charity Trustee Ban
A London tribunal ruled that the misuse of funds at the charity the supermodel founded had been concealed from her.
earnings
Beauty
Coty’s Revenue Disappoints on Covid Hit
Coty Inc posted quarterly revenue below estimates on Tuesday, as stringent Covid-19 curbs in some markets hurt demand for its high-end cosmetics and perfumes.
Global Markets
Russian E-Commerce Giant Wildberries Sees Turnover Increase 93% in 2021
The e-tailer reported turnover of 844 billion roubles ($11 billion) for the year.
Global Markets
Aditya Birla Fashion and Retail Doubles Down on DTC Brands
The Indian fashion retail giant will set up a new entity to acquire and incubate digital-first fashion, beauty and lifestyle brands, according to regulatory filings.
China
Australian Luxury E-Tailer Cettire to Enter China Following JD.com Deal
The luxury fashion platform said in a filing to the Australian Stock Exchange that it has inked a deal to enter mainland China in partnership with e-commerce giant JD.com.
Global Markets
Russian Retailer OR Group Defaults on $7 Million Bond Repayment
The shoe retailer and e-commerce marketplace owner has defaulted on bonds valued at 592 million roubles ($7.7 million).
Fashion Week
New York Fashion Week’s Revolving Door
This week, everyone will be talking about the opening days of New York Fashion Week and the start of fashion’s earnings season.
Beauty
Estée Lauder Raises Annual Forecasts on Recovering Cosmetics Demand
Sales of the cosmetics maker rose in every region in the last three months of 2021 and demand for most of its products grew from pre-pandemic levels, powering the company’s second-quarter earnings above Wall Street expectations.
Luxury
Ralph Lauren Is ‘Back on Offense’ After Years of Restructuring
The apparel company opened new stores in the US last quarter for the first time in more than five years and is targeting further expansion in southern states and on the West Coast.
Luxury
Capri Raises Revenue Forecast on Firm Demand for Luxury Handbags, Apparel
Capri’s better-than-expected sales follows similar reports from European peers LVMH, Burberry, and Prada which have shown a strong rebound from the worst troughs of the Covid-19 pandemic.
Retail
Sales at Zegna Rise 27% In 2021
The rise last year was driven by a strong performance in the United States, where revenues increased by 53 percent on a year earlier. In the key Greater China region, the biggest market for luxury groups, sales rose by 34 percent.
Global Markets
Lunar New Year, the Beijing Olympics and Fashion’s Complicated Opportunity in China
This week, everyone will be talking about the start of the Lunar New Year and Winter Olympics, Estee Lauder’s outlook for the beauty market and the latest data on retail’s labour shortage.
Retail
VF Corporation Falls After Cutting Its Revenue Outlook
VF Corp. slumped after cutting its revenue outlook for the year amid a slowdown in its activewear brands and international sales.
The News in Brief
Dutch Eyewear Chain Hans Anders Halts Sale of Meta Glasses, Citing Privacy Concerns
A growing Dutch outcry over the glasses mirrors a broader backlash against smart glasses equipped with cameras.
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.
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.