E.l.f. Beauty Sales Lift 51%
The US cosmetics giant raised its full-year sales outlook to over $2 billion as Rhode’s global expansion continues to power its revenue growth.
leadership
Retail
Ssense Founders Join Sale Process for Troubled Retailer
Rami Atallah, chief executive of the embattled e-tailer, told employees on Sep. 17 that the company is set to be sold in early October, and announced a new round of layoffs.
Beauty
L’Oréal Names New Americas CEO, Appoints Chairman
Alexis Perakis-Valat, currently president of its consumer products division, will accede to the role, replacing David Greenberg who will become the company’s US chairman.
Sports
Britain’s JD Sports Says Nike ‘Doing All the Right Things’ to Lift Sales
Nike products comprise roughly 45 percent of JD Sports' sales.
Technology
Executive Memo | Everything Fashion Executives Need to Know About AI
The industry’s top decision makers may know all the AI buzzwords, but too many are lacking fundamental knowledge about how the most consequential technology in a decade actually works.
Retail
Report: Saks Global to Sell $1 Billion Stake in Bergdorf Goodman
The retailer is seeking an investor to take on 49 percent of the New York luxury retailer, according to the Wall Street Journal. Proceeds will go towards easing a heavy debt load less than a year after acquiring Neiman Marcus.
Luxury
What François-Henry Bennahmias Did Next
The former Audemars Piguet chief executive speaks exclusively to The Business of Fashion about the launch of his new venture, The Honourable Merchants Group.
Luxury
Francesca Bellettini to Lead Gucci, Kering Confirms
Kering’s co-deputy CEO for brand development is set to replace Stefano Cantino at the helm of the troubled Italian megabrand. Jean-Marc Duplaix, co-deputy CEO and chief operating officer, will retain his COO title as new chief executive Luca de Meo moves quickly to streamline the company’s leadership structure.
Retail
Gap Taps Reed Krakoff and John Demsey to Lead Push Into Accessories and Beauty
Gap Inc. said it plans to launch beauty at Old Navy this fall in 150 stores, including some in the form of shop-in-shops. Accessories will encompass handbags, jewellery and leather goods across its portfolio. But venturing into new categories will pose a risk for a retailer still in the early innings of a turnaround.
Retail
Taylor Hill Launches Jewellery Brand Stone Fruit
The Victoria’s Secret Angel co-founded the collection with her sister Mackinley Hill.
Beauty
Unilever Names Srinivas Phatak Chief Financial Officer
A longtime company insider, Phatak assumes the role amidst a period of organisational change at the UK consumer giant.
Luxury
Ralph Lauren’s Next Chapter: Do More With More
At its first investor day since 2022, the brand will lay out a plan to build on its recent success, including expanding into 20 more cities and continuing to grow lucrative categories like handbags and outerwear.
Global Markets
Princess Noura bint Faisal Al Saud Named CEO of Jay3lle
The Saudi fashion leader will helm the brand launched by J.Lindeberg founder Johan Lindeberg and his daughter Blue as it embarks on international expansion.
The News in Brief
Shein Invests €500 Million in Europe as Customs Rules Tighten
The online retailer said it will expand its logistics hub in Poland as it grapples with stricter customs regulations in Europe.
Remington Owner Spectrum Makes Unsolicited Push to Buy Helen of Troy
The owner of consumer brands like George Foreman and Remington said it has made multiple offers to buy the publicly listed parent company of Olive and June, Drybar and Hydro Flask.
PAI Partners to Acquire Elemis from L’Occitane
The French private equity group announced on Wednesday that it will buy the UK skin and body care brand for an undisclosed sum.
Estée Lauder Sets 2030 Growth, Margin Targets as Turnaround Advances
At its capital markets event in Shanghai, leadership said it aims to deliver mid-single-digit organic net sales growth through fiscal 2030, and unveiled a new cost-cutting and strategic roadmap.
Nykaa Quarterly Profit Nearly Triples on Beauty Demand, Margin Gains
The Indian beauty retailer said on Wednesday its second-quarter profit nearly tripled, as improved operating efficiency and strong demand for premium beauty products boosted margins.
Report: CVS Plans to Break Up Healthcare Conglomerate
The US retailer is planning to spin off its pharmacy business in what would be one of the biggest-ever breakups in the healthcare industry, according to reports.
Pandora Nudges Up Outlook, Speeds Up Launches
The jeweller edged up its near-term revenue and profitability targets as efforts to keep the brand affordable pay off.