Mike Ashley’s Frasers Group has bought the upmarket department store chain out of administration after it warned it could run out of money without new funding.
The premium perfume line, created by former fashion executive Yasmin Sewell, is closing in on a new owner.
The historic French perfume name, which had been relaunched by LVMH in 2019 as a fashion label geared to younger shoppers, has been acquired by the Mehta family, already shareholders since 2011.
The prestige skin and spa brand, which is close to finding a buyer, aims to more than double its sales in the next five years, according to documents viewed by The Business of Beauty.
After crossing the 30 percent ownership threshold, Frasers is now required to make a mandatory takeover bid under German rules.
After exploring a sale process for the three lines, the conglomerate has decided to hold on to the brands with significantly streamlined teams.
The US conglomerate forecasts restructuring costs of $1.75 billion, up from $1.55 billion previously, owing to job cuts and workforce reductions in addition to other expenses.
Private equity firm Sycamore Partners and Italian entrepreneur Stefano Pessina are exploring an initial public offering for the pharmacy chain, but are also in talks with the Canadian branch of the billionaire Weston family about a $10 billion sale.
The latest in The Independents’ agency acquisition spree, the Paris-based firm will bring its film and campaign production capabilities to the group at a time when entertainment is an increasingly important lever for fashion.
The sale of Bella+Canvas, which has not closed yet, would give founders Danny Harris and Marco DeGeorge more flexibility and options for the Lululemon challenger.
The WWD and BeautyInc publisher has also created a new subsidiary, named PMX, to combine its publishing portfolio, comprising 25 titles.
The French cosmetics group will acquire a majority stake in India’s Innovist as it looks to step up its share of one of the world’s fastest-growing markets.
Eli Lilly & Co. raised its full-year sales forecast as demand for its blockbuster obesity and diabetes drugs continues to surge, giving the drugmaker more momentum as it expands into pills and develops even more powerful weight-loss treatments.
The move relaxes rules to access some peptide compounds for recovery, sleep and cognition and will require pharmacies to notify regulators about adverse events.
The German sneaker brand on Thursday reported strong growth in apparel and sports gear, led by running, training and football products, elaborating on preliminary results published last week.
The decision underscores the challenge Japanese retailers face as persistent inflation squeezes household budgets.
Ahead of its first Capital Markets Day in Madrid, the Spanish beauty group has unveiled its “Vision 2032” and detailed its plans to grow its share of the global fragrance market.
Private equity firms CVC Capital Partners and Cinven, along with Spanish beauty group Puig, are considering acquiring Parfums de Marly, the luxury fragrance brand owned by Advent International, two people familiar with the matter told Reuters.
The UK conglomerate raised its annual volume growth forecast on beauty, personal and home care demand, despite a lagging food sector and the impact of geopolitical conflict on costs.
The fashion editor and stylist is reuniting with longtime collaborator Alastair McKimm, chief creative officer of Wonderland parent Visual Talent Ltd.