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.
leadership
Media
Condé Nast Promotes Allure Content Director Jessica Cruel to Editor in Chief
The editor succeeds Michelle Lee, who announced in June she was leaving the beauty magazine to join Netflix.
Global Markets
Surf Brand Rip Curl Names First Female CEO in Its 52-Year History
Surf company, Rip Curl, has appointed Brooke Farris to be its first female chief executive, according to an Australian Financial Review report.
News & Analysis
Levi Strauss Leaves Board of Better Cotton Initiative
Denim maker Levi Strauss & Co is standing down from the Better Cotton Initiative’s leadership, the Wall Street Journal reported on Friday, citing
Luxury
Former Hermès CEO Patrick Thomas To Join Richemont’s Board
The Swiss luxury group is set to name two new board members after announcing last month that the chief executives of its Cartier and Van Cleef & Arpels brands would leave the its governing body to focus on running their respective units.
Media
GQ Italia’s Giovanni Audiffredi Latest Condé Nast Editor to Step Down
The editor is following Vogue Italia editor-in-chief Emanuele Farneti out the door as Condé Nast implements a global consolidation strategy.
News & Analysis
CEO of Michael Kors Owner Says Prices Will Go Up ‘Considerably’
The owner of Michael Kors and Jimmy Choo says prices at both brands will increase during the coming months as the company eschews the major discounts that have dinged revenue in the past.
Luxury
The Breakthrough Designer Rebooting Diesel
Glenn Martens speaks exclusively to Tim Blanks about re-energising the Italian denim brand, designing for his own label Y/Project and pushing people to rethink fashion.
Luxury
LVMH’s Landmark Virgil Abloh Alliance, Explained
This week, LVMH bought a majority stake in the Off-White trademark from Virgil Abloh in a deal designed to tie the polymathic creative director to the group long-term.
Media
Vogue Italia Editor Emanuele Farneti Exits Amid Consolidation
His departure follows that of many of his editor-in-chief counterparts, including leaders in Germany, Spain and India.
Luxury
LVMH to Buy Majority Stake in Off-White, Expand Virgil Abloh’s Role
The luxury conglomerate will acquire the trademark to the New Guards Group-operated streetwear label, as well as work with its creative director to launch new brands and energise existing ones across its portfolio.
Luxury
The Logic Behind LVMH’s Phoebe Philo Deal
LVMH’s bet on Phoebe Philo’s new label keeps the star designer in the group’s orbit and gives it a new opportunity to experiment with a digital-first business model.
Luxury
Burberry Says It’s ‘Confident’ Tisci Will Stay On as Sales Beat Estimates
The British brand’s sales have rebounded from a pandemic slump, but its future remains uncertain.
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.