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.
earnings
Luxury
Moncler Reports Record Sales as Demand in China Bounces Back
Moncler SpA saw sales jump 24 percent in the first half of the year, beating consensus estimates and exceeding the €1 billion mark for the first time.
Retail
Puma Highlights ‘Volatile’ Demand After Rise in Second-Quarter Sales
Puma’s second-quarter sales grew by 11 percent, the company reported on Wednesday, slightly ahead of market expectations thanks to stronger revenues from Asia and Europe.
Luxury
LVMH China Rebound Offsets Weakening US Demand
Group revenue for the first half rose 17 percent year-on-year to €42.2 billion. But a fall in US sales in the second quarter could signal the sector’s post-pandemic explosive growth spurt is beginning to temper.
Beauty
Unilever Shares Gain on Resilient Demand as Inflation Cools
Unilever Plc shares advanced as the maker of Dove soap moderated price increases on personal care and beauty products, leading to a rebound in purchases by shoppers.
Retail
Adidas Improves Earnings Guidance After Selling Some Yeezy Shoes
Adidas AG improved its guidance for the year after starting to sell its inventory of Yeezy sneakers from a cancelled partnership with the rapper and designer Kanye West.
Luxury
Where Did Luxury’s Aspirational Shoppers Go?
After years of fuelling growth at luxury brands, the consumer segment group — which typically opts for entry-level accessories — pulled back sharply on spending in the first quarter of 2023. BoF unpacks what happened and what’s to come.
Luxury
Is This Luxury’s New Normal?
LVMH, Kering and Prada are among the companies who will seek to reassure the market this week after mixed-bag earnings resulted in a luxury sell-off. That, plus what else to watch for in The Week Ahead.
Beauty
Big Beauty IPOs Are Back
On its first day of trading, Oddity shares jumped 40 percent, giving the parent company of Il Makiage a $2.73 billion valuation.
Retail
Kim Kardashian’s Skims Reaches $4 Billion Valuation
Skims, the shapewear and intimates brand created by Kim Kardashian, has raised $270 million in a Series C funding round that values it at $4 billion, the company announced Wednesday. That’s up from its previous valuation of $3.2 billion in 2022.
Retail
US Retail Sales Edge Higher as Key Metric Shows Resilient Demand
US retail sales rose by less than forecast, while an underlying measure of household spending pointed to a more resilient consumer at the end of the second quarter.
Luxury
Richemont Drops on Signs Luxury Demand Falling in US, China
Richemont led luxury goods stocks lower amid concerns that demand in the US and China, two of the biggest markets for the industry, is starting to sputter.
Luxury
Burberry’s US Sales Fall As Aspirational Demand Weakens
Declines in the US were offset by recovery of Chinese spending, with total comparable store sales for the quarter up 18 percent.
The News in Brief
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.
On Targets High-Teens Growth Through 2029
The Swiss brand revealed its plan to keep up its momentum with new products in sports such as golf and its Mbappé-supported entry into football ahead of its investor day Tuesday.
Reference Festival to Host ‘Freie Kunst’ Event at Art Basel Paris
The event runs from Oct. 22 to 25 and will mix participants from art, fashion, music and technology as part of the festival’s tradition of a ‘radical and unhinged exchange of ideas,’ said Mumi Haiati, founder of the event’s organiser Reference Studios.
Amazon Blocks Meta’s Muse AI Agent From Its Retail Site
The e-commerce giant prohibits other companies from deploying automated tools to shop its site and started blocking Meta’s Muse on Sunday night.
Dior to Host Cruise Show in Shanghai
The LVMH-owned megabrand will show its Cruise 2028 line in the Chinese fashion capital on May 14, 2027.
Oura Seeks $2.2 Billion in US IPO
The smart ring maker plans to market 50 million shares for $40 to $44 each, according to filings, which could value the company as high as $14.1 billion.
PR Agency CGC Launches Performance Media Division
Known for its premium beauty clients including Glossier and Hermès Beauty, the agency’s new division combines influencer marketing and AI insights.