Zalando Launches AI Shopping Agent as Discounts Squeeze Margins
Zalando reported a 0.9 percentage-point drop in its third-quarter gross profit margin to 38.7%, missing market expectations, according to analysts at Jefferies and JPMorgan.
mergers-acquisitions
Marketing
The Independents Acquires Terminal 9 Studios
The Paris-based documentary production company is The Independents’ second acquisition this year.
Direct-to-Consumer
Andie Acquires Richer Poorer
The two digitally-native brands will sell their products across both sites as the combined company aims to reach $100 million in annual sales in the next three to five years.
Beauty
Church & Dwight to Acquire Hand Sanitiser Brand Touchland for $700 Million
The owner of personal care brands like Viviscal and Nair announced on Monday that it has signed a definitive agreement to acquire the viral hand sanitiser brand, with an earn-out that could take the total purchase price as high as $880 million.
Retail
Skechers’ $9.4 Billion Blockbuster Buyout, Explained
The comfort sneaker brand’s $63-per-share acquisition by the Brazilian private equity firm 3G shocked both the fashion and financial worlds.
Retail
Skechers Will Be Acquired by Investment Firm 3G Capital for $8.2 Billion
The shoemaker will be purchased for $63 per share. Following the announcement, shares of the footwear company rose 25 percent in early New York trading.
Beauty
Freck Beauty Founder Sells Brand, Steps Down
Under new ownership by a undisclosed group of investors, the label known for its celebrity-loved freckle pen is being operated by Nameless CPG.
Luxury
Mytheresa Finalises YNAP Acquisition
The combined companies will start trading under the name LuxExperience on the New York Stock Exchange by May 1.
Beauty
Sexual Wellness Start-Up Dame Acquires Chakrubs
The deal marks Dame’s second acquisition in the last year as the $125 vibrator seller seeks to grow market share in the sexual wellness sector.
Beauty
Boots Workers Worry About Sycamore Cost Cuts
Employees at Boots are fearful of what Sycamore Partners’ takeover of Walgreens Boots Alliance means for the future of the UK-based chemist, The Guardian reports.
Retail
Forever 21 Bankruptcy Creditors Probing Sparc-JCPenney Tie-Up
A committee of unsecured creditors to Forever 21’s US arm is investigating the fast fashion retailer’s deals prior to its Chapter 11 filing, including JCPenney’s acquisition of its parent Sparc Group.
Retail
Anta Sports Purchases Jack Wolfskin for $290 Million
China’s largest sportswear company bought the German outerwear, footwear and equipment brand from Topgolf Callaway Brands.
Luxury
Mytheresa Secures Regulatory Approval to Acquire YNAP
The German luxury e-tailer also announced a series of leadership changes set to take place at both companies after the deal closes on April 23.
The News in Brief
Unilever Plans €1 Billion in Savings to Ramp Up Turnaround
The conglomerate is focussed on sharpening its positioning as a pure-play beauty and personal care organisation.
Indian Jeweller Giva Raises $100 Million to Fuel Retail Expansion
The Bengaluru-based company plans to use the mammoth funding round to boost manufacturing and more than double its store count to over 1,000 locations.
Bangladesh Garment Workers Stage Fourth Day of Wage Protests
The unrest has intensified despite the government forming a wage board to review pay levels, with violent clashes shuttering factories and injuring dozens of people.
Retail Still a Weak Spot as Reliance Profits Beat Expectations
The Indian oil-to-telecom giant saw its market value jump by a record $19 billion as earnings surged, but its retail division continues to lag.
Hugo Boss Cuts Outlook Citing Weak Demand, Higher Costs
The German fashion house, recently taken over by Britain’s Frasers Group, is in the midst of a second turnaround effort under CEO Daniel Grieder.
Diotima’s Rachel Scott, Ralph Lauren Take Home Top Prizes at CFDA Awards
Colleen Allen won the emerging designer of the year award; Tory Burch, Linda Fargo and more take home honours.
Ye Announces ‘Yeezy Season 01’ Runway Show in Los Angeles
The show will unveil the brand’s first-ever flagship store and mark Ye’s first full-scale runway presentation in four years.