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.
footwear
Retail
Nike Delays Its Travis Scott Sneaker Release After Astroworld Concert Tragedy
Nike Inc. said it would postpone the release of a sneaker collaboration with rapper Travis Scott’s Cactus Jack label after a crowd crush resulted in the deaths of 10 people at his concert earlier this month.
Global Markets
Brazilian Footwear Giant Arezzo & Co’s Q3 Net Revenues Up 87%
Leading Brazilian footwear and accessories conglomerate Arezzo & Co saw third quarter net revenue reach 777.9 million Brazilian reais ($141 million),
Retail
Sneaker Brand Allbirds Tops IPO Goal to Raise $303 Million
Shoemaker Allbirds Inc. expanded an initial public offering and priced the shares above a marketed range to raise $303 million.
Retail
Eco-Friendly Washable Shoe Brand Rothy’s Seeks Fresh Funding
Rothy’s Inc., a direct-to-consumer footwear brand, is in discussions to raise funding that could value it at more than $1 billion, according to people with knowledge of the matter.
Retail
Allbirds Targets $2 Billion Valuation in New York IPO
The direct-to-consumer footwear brand announced on Monday that it will offer 19.2 million shares priced between $12 and $14 per share.
Luxury
How Golden Goose Made Scuffed-Up Sneakers as Profitable as Chanel
The Italian brand occupies a lucrative niche with its distressed Americana-style trainers. Now, CEO Silvia Campara is betting on a strategy rooted in ‘co-creation’ to take the brand to new heights.
Direct-to-Consumer
Warby Parker and Wall Street’s Verdict On DTC
Warby Parker’s stock market performance will test if investors buy into the direct-to-consumer playbook of prioritising growth over profit.
Luxury
The Business Vision Behind Balenciaga’s ‘New Era’
From a couture revival to winning the Met Gala, the Kering-owned brand is white-hot. Ahead of its buzzed-about Paris Fashion Week show Saturday, CEO Cedric Charbit speaks to BoF about the strategy behind ‘new era’ Balenciaga and his plan for pushing sales to the next level.
Luxury
Canada Goose Expands Into Footwear
With the release of a $1,300 winter boot, Canada Goose is looking beyond its puffer jacket hero product.
Retail
Crocs Expects to Double Sales by 2026
Shares of Crocs Inc. soared to a record high after the footwear retailer said it expects its revenue to climb to more than $5 billion by 2026.
Retail
Allbirds Files for IPO
Allbirds Inc. is moving ahead with an initial public offering as it expands beyond the wool trainers that have become the unofficial footwear of Silicon Valley.
Sustainability
Allbirds Expands into Activewear
The direct-to-consumer brand known for its eco-conscious ethos and wool sneakers is venturing into the booming market for sportswear, expanding into the new category amid signs it is preparing to go public.
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.