H&M, Adidas and Inditex Back New Effort to Address ‘Waste Colonialism’
The new initiative will explore how the industry can take responsibility for the millions of used and unsold garments exported to secondhand markets around the world.
venture-capital-private-equity
Sustainability
Case Study | Fashion’s Race for New Materials
Brands are pursuing a raft of initiatives to adopt recycled textiles, regeneratively farmed cotton and mushroom-based leather, but giving fashion’s major materials a sustainability makeover still requires billions of dollars worth of investments and deeper, longer-term commitments to scale. BoF breaks down some of the key innovations, the companies leading the charge and the barriers to change.
Retail
Why Activist Investors Are Targeting Department Stores
Hedge funds are urging Kohl’s and Macy’s to consider radical changes to how they operate as the retailers struggle to reverse decades of decline.
Retail
Can Independent Stores Be Successful Online?
Elysewalker, a chain of boutiques in the Los Angeles area, is opening an online shop this month, joining an already-crowded landscape of luxury fashion e-tailers. Here’s how it plans to stand out.
Partner Content
Reimagining Funding to Democratise Fashion Entrepreneurship
Clearco has invested more than $2.4 billion in over 6,000 businesses, leveraging AI to remove the bias. Its portfolio has eight times more women-founded businesses than traditional VC firms and 30 percent of founders are people of colour.
Retail
The $12 Billion Start-Up Proving Wholesale Is Thriving
A $400 million investment in Faire, which pairs brands with retailers, is a sign of how multi-brand stores are here to stay after a decade where direct-to-consumer brands dominated the conversation.
Beauty
Shiseido To Sell BareMinerals, Buxom & Laura Mercier to PE Firm
Shiseido Americas is selling cosmetics brands, BareMinerals, Buxom, and Laura Mercier to AI Beauty Holdings Ltd, a newly-formed affiliate of private equity investment firm, Advent International. The terms of the deal were not disclosed.
Global Markets
African Bitcoin Giant Invests in Nigerian Streetwear Brand
Patricia, Africa’s largest Bitcoin trading company, has invested $1.5 million in Nigerian streetwear brand, Rooomxix, in order to facilitate its nationwide expansion.
Global Markets
Mayhoola CEO’s Investment Vehicle Takes Stake in Egypt’s Okhtein
Bidayat, a subsidiary of Alsara Investment Group, the investment vehicle founded by Valentino board chairman and Mayhoola chief executive, Rachid Mohamed Rachid, has taken an undisclosed stake in Egyptian accessories brand, Okhtein.
Global Markets
Latin America’s Version of Shopify Nuvemshop Valued at $2 Billion
Nuvemshop, a Latin American e-commerce startup similar to Shopify, is raising a new round of funding led by Tiger Global Management that could value the company at $2 billion including the new capital, people familiar with the matter told media outlet, The Information.
Global Markets
H&M Invests in Indian Social Commerce Player Trell
Indian social commerce platform, Trell, has raised $45 million in a series B round of funding led by financial group Mirae Asset, H&M Group and co-led by LB Investments. It is the first Indian investment by H&M Group, according to reports in India’s local business media.
Beauty
Glossier Raises $80 Million Series E, Valuing Company at $1.8 Billion
The direct-to-consumer beauty brand ramped up its operations in the last month ahead of its reentry into physical retail.
Technology
Digital Fashion Player DressX Raises $2 Million
The Artemis Fund and Alpha Edison led the investment round, which will see the digital-only clothing startup build an NFT marketplace.
The News in Brief
Dyson’s $499 AI Toothbrush Sees Rocky Debut
The UK firm blamed a production error resulting in ‘water seepage’ for the disappearance of its newly launched camera-equipped toothbrush from stores.
Sephora to Launch at Marks & Spencer
‘Sephora at M&S’ will roll out in M&S stores and online starting next spring, with plans to expand to 100 locations by the end of 2028.
Novo Buys Rights to Early Obesity Pill For $2.6 Billion
The Wegovy maker has signed a deal to license an experimental obesity pill from China’s Jiangsu Hengrui Pharmaceuticals as it seeks to regain share of the global GLP-1 market.
Oura Delays US IPO
The smart ring maker said on Tuesday it has delayed its US initial public offering, citing market uncertainty.
Maxhosa Africa Brings Pan-Africanism to Paris Fashion Week
Creative director Laduma Ngxokolo’s label is the first South African brand to stage a full runway show on the official Paris Fashion Week calendar.
Shein Shares Sink to Record Low After Profit Plunge
The ultra-fast-fashion giant’s share price fell 12 percent after it reported a steep drop in first-half operating income in its inaugural earnings as a public company.
Revolve Launches Annual Print Magazine
The annual publication, whose inaugural issue features Kendall Jenner, Alex Consani and Teyana Taylor, will be available digitally and in stores.