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
Retail
Victoria’s Secret Plus-Size Brand Founder Is Out as Sales Lag
Christine Vellani will take over the helm from Adore Me founder Morgan Hermand-Waiche, Bloomberg reported.
Retail
Skims Taps Michael Kors Veteran to Lead EMEA Expansion
Kim Kardashian’s shapewear brand has hired Robin Gendron as its first president for Europe, the Middle East and Africa, as it prepares to open standalone stores in London and Dubai.
Luxury
Valentino CEO Jacopo Venturini Steps Down
After five years at the helm, Venturini is leaving for personal reasons as the Italian luxury house navigates a creative reset and ownership transition.
Beauty
What It Takes to Get Into Sephora
Beauty experts like Mary Phillips, Chris McMillan and Alli Webb have specific qualifications that not all new brand founders possess, making the retailer more willing to bet big on their success.
Sports
How the New York Liberty Became the WNBA’s Most Fashionable Team
Fashion is emerging as a key growth driver for the championship organisation, attracting new audiences and amplifying its relevance at a crucial moment for the WNBA.
Luxury
A Letter to Kering’s New CEO
Incoming chief executive Luca De Meo needs to urgently tackle two problems, debt levels and management structure, writes Luca Solca.
Luxury
Prada Promotes Christopher Bugg to Chief Communications Officer
Bugg will oversee global communications for the group’s Prada, Miu Miu, Church’s and Car Shoe brands.
Luxury
Kering’s New CEO De Meo to Receive €20 Million Sign-on Bonus, Filings Show
Kering is proposing a significant compensation package for its new CEO, Luca de Meo, while outgoing CEO Francois-Henri Pinault will take a pay cut.
Sports
Puma Appoints Former Adidas’ CIO Andreas Hubert As COO
Puma has appointed Andreas Hubert effective September 1 to oversee global sourcing operations.
Beauty
Procter & Gamble Names Shailesh Jejurikar as CEO, Replacing Jon Moeller
Moeller, who had been at the helm since 2021, will transition into role of executive chairman at the Tide maker, P&G said.
Workplace & Talent
What Fashion and Beauty Professionals Want From Employers
BoF Careers examines how employers must adapt in order to attract, engage and retain a multigenerational workforce, based on a global survey of more than 1000 professionals. Download the full report.
Beauty
Estée Lauder Companies Names Aude Gandon Chief Marketing and Digital Officer
Gandon, who joins the company from Nestlé, will assume her new role on August 1.
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.