Puig Targets €8 Billion in Annual Sales by 2032
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.
trade
China
Alibaba’s Tsai Says Yahoo Stake Rightly Discounted on US Tax
Yahoo's stake in Alibaba Group rightly trades at a discount, according to the Chinese e-commerce giant’s vice chairman, Joseph Tsai, because selling it would trigger a big US tax bill.
Fashion Week
Brexit, Not the Clothes, Are the Talk of Paris Fashion Week
The British vote to leave the European Union and not the clothes were the talk of the front row crowd at menswear shows in Paris on Friday.
News & Analysis
Messy Brexit Could Lead to Big Hit for UK Economy, Warns IMF
A vote to exit the European Union in next week's referendum could leave Britain's economy more than 5 percent smaller by 2019, the International Monetary Fund said.
Global Markets
A ‘Brexit’ Would Be Bad for Fashion
Britain’s exit from the European Union would do real damage to the global fashion industry.
News & Analysis
Italy's Fashion Industry Signs Deal to Build Ties with Iran
Italy has become the first European country to take steps to help its fashion industry build a stronger presence in Iran following the lifting of Western sanctions.
The News in Brief
Report: Puig, CVC, Cinven Eye Luxury Fragrance Maker Parfums de Marly
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.
Beauty and Home Care Drive Unilever Sales, Food Unit Falters
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.
Carlos Nazario Appointed Editor in Chief of Wonderland
The fashion editor and stylist is reuniting with longtime collaborator Alastair McKimm, chief creative officer of Wonderland parent Visual Talent Ltd.
Aritzia Seeks to More Than Double Sales by 2032
New categories and brick-and-mortar expansion beyond North America are set to drive Aritzia’s quest to hit $10.5 billion CAD ($7.5 billion).
Pop Mart Quarterly Sales Fall Up to 50% as Labubu Fad Cools
Sales in the Americas fell 70 to 75 percent.
Zegna to Take Summer Fashion Show to Beijing
The Italian label has continued to enjoy solid growth in China, defying a wider downturn in demand for European luxury. The June 11 presentation of its summer collection will be the latest in a series of travelling shows.
Beiersdorf Sales Slightly Miss Expectations on Nivea Weakness
The German consumer goods maker marginally missed market expectations for third-quarter sales growth on Tuesday, with its key Nivea brand posting a third straight quarterly sales decline.