Guess, whose shares jumped over 30 percent in early trading on Monday, has formed a special committee to evaluate the proposal, though the deal isn’t guaranteed.
JD Vance, whom President Trump had tapped last month alongside Michael Waltz to facilitate the potential sale, said there will ‘almost certainly’ be an agreement allowing for ‘a distinct American TikTok enterprise.’
The deal will help the beverage giant compete with rivals like Coca-Cola and Keurig Dr. Pepper as demand for sugary drinks wanes and consumers turn to healthier alternatives and functional beverages.
A deal would create a group with a broader base that is more resistant to business cycles, but turning Versace around could take years and hit short-term profits.
Originally founded in Brooklyn in 1993, the line focusses on the needs of curly, coily and Afro hair, and is one of a small number of Black-founded brands to be acquired by a major beauty conglomerate.
Capri Holdings Ltd. saw its shares rise as much as 9.6 percent following reports that it is close to selling its Italian luxury brand Versace to Prada for up to €1.5 billion, a deal that could help Prada compete with luxury giants like LVMH and Kering SA.
Talks between Prada and Versace owner Capri are progressing and could results in a deal in March, Bloomberg reports.
A year into its ownership of the embattled luxury e-tailer, the South Korean e-commerce giant is whipping Farfetch into shape, reaching near breakeven in its latest quarter. But company insiders say Coupang has gone from cutting fat to cutting muscle, stripping Farfetch of its ability to compete for the attention and dollars of key ultra-wealthy shoppers who account for 30 percent of its annual sales.
Dubai-based Huda Beauty will sell the buzzy fragrance line to its co-founder, Mona Kattan, and General Atlantic, buying back a stake held by TSG Consumer Partners since 2017.
The Long Island-based company will acquire fashion and accessory label Kurt Geiger from private equity firm Cinven, with the deal expected to close by the second quarter, pending regulatory approval.
A deal is expected to be announced in the coming weeks, according to Sky News.
The German luxury e-tailer more than doubled its adjusted earnings in its second fiscal quarter that ended in December, providing a glimpse into how it will fare once its deal to acquire its competitor, Yoox-Net-a-Porter, is approved.
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.
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.
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.
The jeweller edged up its near-term revenue and profitability targets as efforts to keep the brand affordable pay off.
The Ozempic maker raised its full-year outlook for the third time this year on Wednesday as its Wegovy pill beat third-quarter sales forecasts, boosting the Danish firm's bid to win back ground from US rival Eli Lilly.
The fragrance firm reported third-quarter core profit a touch above market expectations on Wednesday, and raised its full-year growth outlook but failed to impress investors.
Sales and profit from clothing and homeware remain below two years ago but ‘brand is in good health.’
Owner Four Marketing is transitioning the label from founder-led brand to a studio-driven platform, with Bullen’s debut collection scheduled for Autumn/Winter 2027 in Paris