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.
social-media
China
ByteDance Foe Kuaishou Drops as Livestreaming Sinks, Costs Jump
Kuaishou Technology shares tumbled after the rival to TikTok-owner ByteDance Ltd. reported a faster decline in its livestreaming business while boosting investments in newer businesses.
Global Markets
Alibaba, SoftBank Bet On Indonesia’s New Super-App
The Chinese retail giant and Japanese telecoms and investment conglomerate have become the two biggest shareholders in the newly formed GoTo Group,
China
CEO of TikTok Owner ByteDance to Step Down
ByteDance Ltd, the owner of popular short-video app TikTok and its Chinese sister-app, Douyin, said Thursday that founder and global chief executive, Zhang Yiming, would step down as CEO to focus on long-term strategy, according to a Wall Street Journal report. Co-founder, Liang Rubo, will take his place.
Retail
Why Instagram Still Isn’t a Shopping Destination
Two years after the debut of Instagram Checkout, many brands say their customers are unlikely to make purchases directly through the app.
China
ByteDance Hires Thousands to Challenge E-Commerce King Alibaba
Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba.
Retail
Can TikTok’s Biggest Stars Build Abercrombie’s Next Brand?
A new partnership with Dixie and Charli D’Amelio, in the form of a brand called Social Tourist, gives a look at the company’s ambitions.
Global Markets
Kakao Races to Become South Korea’s Amazon
The mobile messaging app operator is looking to duplicate the US tech and retail giant’s success by growing its business into online shopping, fintech, media content and logistics.
Retail
The Retail Workforce of the Future
The pandemic has driven retailers to convert parts of their stores into warehouses, call centres and even television studios, transforming the role played by sales associates.
News & Analysis
Fashion’s Go-to DJ Michel Gaubert Apologises For Asian Mask Video
The post of a dinner in Paris quickly circulated online, prompting criticism from industry insiders.
Luxury
Versace Joins Clubhouse, Announces Speaker Series with Precious Lee and Indya Moore
The Italian luxury brand will be the second fashion brand on the invite-only, audio-based app, joining British label Ted Baker.
Marketing
Ted Baker Becomes First Fashion Brand With a ‘Club’ on Clubhouse
The British label is launching a branded-content series on the audio-only platform hosted by Abraxas Higgins, an active Clubhouse user with 370,000 followers on the app.
Marketing
Nostalgia, Movie Stars and Drag Queens: Inside the Coach Brand Turnaround
The 80-year-old heritage leather goods maker has spent much of the last year leaning into a marketing strategy that emphasised fun. Its efforts are paying off.
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.