Coty Tops Estimates on Prestige Brands Boost Amid Turnaround
The US cosmetics conglomerate said launches from Marc Jacobs and Burberry helped boost revenues, though its full-year guidance is below consensus.
leadership
Sustainability
Chloé’s Chief Sustainability Officer Departs
Aude Vergne, who spent nearly decade at the luxury brand and oversaw the label’s B Corp certification has left the company.
Luxury
Giorgio Armani, Italy’s Fashion ‘King,’ Has Died
The designer was the richest in the world, and the sole owner of the Armani Group that was for many years the most successful fashion company in the country.
Beauty
Unilever CEO Plans Shakeup of Top 200 Managers in Overhaul
At a Barclays investor conference on Wednesday, the consumer goods giant said it would review the roles as part of a “refresh” designed to cut costs and improve agility.
Retail
Mytheresa Announces Layoffs at Yoox-Net-a-Porter
The German e-tailer said 700 employees will be impacted by an ongoing restructuring as the company integrates YNAP into its new parent organisation, LuxExperience.
Workplace & Talent
How to Get Ahead in Fashion’s Stagnant Job Market
Tariffs, AI fears and shaky economics have slowed hiring but there are ways talent and brands can find opportunity in the standstill.
Retail
Ssense: What Went Wrong
Tariffs were the immediate cause of the Montréal-based company’s decision to file for bankruptcy protection. But insiders tell BoF that the downfall was a long time coming as the online retailer’s formula for appealing to Gen-Z shoppers with indie fashion brands and constant markdowns lost its edge.
Workplace & Talent
Nike Cuts Corporate Staffers Amid Realignment
Layoffs will impact less than 1 percent of the company’s corporate team and are part of a restructuring led by chief executive Elliot Hill.
Beauty
Beauty’s ‘Dream Team’ Launches a Fragrance Line
Melanie Bender, Rhode’s former chief executive, Youth to the People’s Joe Cloyes and Greg Gonzalez and Milk Makeup’s Mazdack Rassi have entered the red-hot fragrance category with their debut Lore.
Beauty
Revolution Beauty Founders Return to Tackle Turnaround
The embattled UK beauty group has formally ended its sale process and announced that co-founder Tom Allsworth will return as chief executive, with co-founder Adam Minto joining in a consultancy role.
Direct-to-Consumer
Trinny London Hires New CMO, Revamps Branding Strategy
With a Charlotte Tilbury alum as its new marketing chief, the eight-year-old UK beauty brand is homing in on storytelling as it chases global expansion.
Luxury
Valentino Names Riccardo Bellini CEO With Kering Deal At Stake
After taking the helm of parent company Mayhoola earlier this year, the former Margiela and Chloé chief will now focus on turning around the Qatari-owned group’s biggest brand.
Retail
Target Says Long-Time Executive Michael Fiddelke to Take Over as CEO
The company appointed Michael Fiddelke as its new CEO, who now faces the challenge of reversing weak sales and market share losses amidst consumer selectivity and new tariffs.
The News in Brief
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.
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.