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By Bloomberg Published April 17, 2025 David Wertheimer, son of Chanel co-owner Gérard Wertheimer, is expanding his private equity firm, 1686 Partners, by naming a new investment lead and revealing a growing portfolio of high-end brands. David Wertheimer – Credit: Dave Benett/Getty Images According to the executive’s LinkedIn profile, the 38-year-old entrepreneur has appointed David […]
Read MoreBy Reuters Published April 17, 2025 L’Oreal reported a 3.5% rise in like-for-like first-quarter sales on Thursday, beating expectations for slower growth, as strong demand for its face creams and perfume in Europe helped counter challenging conditions in the United States. Maybelline The French cosmetics group, which owns Maybelline makeup and Kiehl’s skincare, reported sales […]
Read MoreBy Bloomberg Published April 15, 2025 Nike Inc. is opening a new creative studio in Shanghai as the world’s largest sportswear company pumps investment into one of its most crucial markets. Bloomberg The in-house production division, called Icon Studios, will create content including digital videos, product photography and projects across e-commerce, social media and live […]
Read MoreBy Reuters Published April 16, 2025 Chinese online marketplace Temu and fast-fashion retailer Shein will raise prices on their products next week as President Trump’s crackdown on low-value imports and sweeping tariffs increase expenses for the companies known for their low-priced offerings. Reuters In letters to customers this week that mirror each other, both firms […]
Read MoreBy Reuters Published April 16, 2025 Italian luxury outerwear group Moncler on Wednesday reported a stronger than expected 1% increase in revenue in the first quarter thanks mostly to direct-to-consumer sales and Asian demand. Moncler Revenues for the three months to the end of March totalled 829 million euros ($944 million), ahead of a company-provided […]
Read MoreBy Bloomberg Published April 16, 2025 Pakistan will offer to buy more cotton and soybean from the US, according to people with knowledge of the matter, as it looks to halve its bilateral trade surplus and escape tariffs imposed by President Donald Trump. Bloomberg The South Asian country wants to reduce this surplus to blow […]
Read MoreBy Bloomberg Published April 15, 2025 The mini bling boom since the turn of the year is well and truly over. On Monday, LVMH reported first-quarter sales that missed expectations. No division generated growth. Each one underwhelmed. The crucial fashion and leather goods unit reported a 5% decline in sales, excluding currency movements, far below the 0.6% slide […]
Read MoreBy Reuters Published April 16, 2025 Suppliers, vendors and other unsecured creditors of Forever 21 are “getting smoked” under a restructuring plan that envisions paltry recoveries on debts owed by the bankrupt fast fashion retailer, a lawyer for the company’s unsecured creditors said on Tuesday. Forever 21 At a virtual hearing before a Delaware-based U.S. […]
Read MoreBy Reuters Published April 14, 2025 LVMH, the world’s largest luxury group, reported a 3% drop in first-quarter sales on Monday, missing expectations and confirming a broader sector slowdown as shoppers pulled back on designer fashion amid a volatile economic climate. LVMH misses Q1 targets as fashion and leather goods weaken. – LVMH The French […]
Read MoreBy Bloomberg Published April 14, 2025 TikTok users in the U.S. are being inundated with videos from Chinese influencers encouraging Americans to bypass Trump-era tariffs by buying directly from the “world’s factory”—China. China textile industry produces around two thirds of the world’s clothes – AFP/Getty Images Mostly filmed inside Chinese factories claiming to supply leading […]
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