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.
fast-fashion
China
Shein Has a Serious New Competitor
One of many fast fashion players from China trying to use the Shein playbook to chip away at Boohoo and Fashion Nova is a new brand from e-commerce giant Alibaba.
Retail
BoF Insights | Building Resilience and Value in Fashion’s Supply Chain
Read the latest BoF Insights report to get BoF’s perspective on the state of the fashion industry’s supply chain model, plus data-driven guidance on how companies can strengthen their supply chains in the face of pandemic and geopolitical challenges.
News & Analysis
AB Foods Sees First Half ‘Strongly Ahead’ on Improved Primark
Primark sales for the 24 weeks to March 5 were expected to be well over 60 percent ahead of last year at constant currency with an operating profit margin of 11 percent.
Sustainability
How Can Fashion Become Truly Circular?
On this week’s episode of The BoF Podcast, Dame Ellen MacArthur explains how the fashion industry can move toward a waste-free future.
Technology
How ‘The Age of Acceleration’ Will Transform Business
At BoF VOICES 2021, futurists Martin Raymond and Christopher Sanderson examined the series of fast-paced changes that will dominate the wider world in the coming decade — and advised on how brands must adapt.
Sustainability
Can a Materials Revolution Make Fashion More Sustainable?
For our latest online BoF Professional Membership event, please join BoF’s Sarah Kent and Rachel Deeley along with Elaine Siu, chief innovation officer, Material Innovation Initiative, as they explore fashion’s new frontier of material innovation.
Global Markets
Shein on Singapore Hiring Spree as It Shifts Key Assets
China’s Shein is aggressively expanding its Singapore office after making a Singapore firm its de facto holding company, according to people with knowledge of the matter and a Reuters analysis of filings by the online fast-fashion retailer.
China
Shein-Like Site Linked to TikTok Owner ByteDance Shuts Down
The fast fashion e-commerce site that was last week linked to ByteDance in Chinese media reports has posted a notice on its homepage alerting shoppers that it ceased operations on Feb.11.
Retail
Fast-Fashion Giant Shein Plans $2.3 Billion Supply Chain Hub
The Chinese fast-fashion retailer plans to invest 15 billion yuan ($2.3 billion) to build a global supply chain centre in Guangzhou.
Retail
H&M CEO Sets Target to Double Retailer’s Sales by 2030
Hennes & Mauritz AB chief executive Helena Helmersson is also targeting an operating margin of more than 10 percent within three years.
Topics
Fashion Nova to Pay FTC $4.2 Million Settlement for Blocking Negative Reviews
The fast fashion company will be required to pay $4.2 million to the American Federal Trade Commission, resolving a complaint that the company was suppressing reviews that were less than five stars on its site.
China
Report: Chinese Fashion Retailer Shein Revives Plan for New York Listing in 2022
It was not immediately clear how much the company was looking to raise from its New York debut.
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.