Poshmark expands into Australia following IPO
U.S. fashion and beauty e-tailer Poshmark is expanding its presence into Australia, a move that follows its January IPO, according to a report by Bloomberg.
Conde Nast caught up in rent dispute as publisher seeks to scale back office space
Conde Nast has declined to pay some US$2.4 million in rent for its One World Trade Center space due to a dispute with its landlords, according to a report published by The Wall Street Journal, quoting a bond document filing.
LVMH and Rihanna put ready-to-wear operations on hold as pandemic hits demand
LVMH and Rihanna have announced that they are to put the singer’s ready-to-wear operations on hold due to falling demand as a result of the pandemic.
L Brands announces retirement of CFO Stuart Burgdoerfer
L Brands has announced the retirement of Stuart Burgdoerfer, Chief Financial Officer and interim CEO of Victoria’s Secret, effective August 2021.
L Catterton poised to acquire Birkenstock?
LVMH-backed L Catterton has emerged as the preferred bidder in the race to acquire casual shoe manufacturer Birkenstock, according to a report published by Bloomberg.
LVMH orders Tiffany workers back to the office
New Tiffany owner, LVMH is said to have ordered employees of the jewelry brand back to the office, starting in March, according to a report published by The Wall Street Journal.
Ashley Graham unveiled as St. Tropez new Global Brand Ambassador
Supermodel Ashley Graham has been announced as the new Global Brand Ambassador for PZ Cussons’ tanning brand St. Tropez.
Japanese fashion retail site ZOZO launches new beauty platform ZOZOCOSME
Japanese fashion retail site ZOZO has announced the launch of its new beauty platform ZOZOCOSME, which is set to go live in March.
Asos acquires Topshop, Topman and Miss Selfridge for £265 million
Asos has announced the planned acquisition of four Arcadia brands: Topshop, Topman, Miss Selfridge and HIIT for £265 million. The transaction is expected to complete on February 4, 2021.
We’re creating a new fashion system: Depop announces sustainability plan
Depop has announced an intensive two-year sustainability plan that aims to set up a ‘new fashion system’. The clothing resale platform has pledged to become climate neutral by the end of the year.
LVMH Luxury Ventures and L’Oréal BOLD support social selling platform Replika Software in Series A funding round
Social selling platform Replika Software has completed its Series A funding round, backed by the likes of LVMH Luxury Ventures and L’Oréal BOLD, the investment arm of their parent companies.
AmorePacific teams up with Virgil Abloh’s Off-White brand on new fashion and beauty collaboration
AmorePacific has teamed up with Italian brand Off-White to launch a new beauty and fashion collaboration named the Protection Box.
LVMH 2020 profit down by a third despite strong Q4; showing ‘good resilience’
LVMH has announced a recorded revenue of 44.7 billion euros in 2020, down 17 percent, while organic revenue fell 16 percent year on year.
Victoria Beckham Holdings loss widens as beauty set up costs bite
David and Victoria Beckham have received a total of £21 million in dividends from their sports and media businesses since the end of 2019, according to a report published by the BBC.
The Estee Lauder Companies closes all counters at Debenhams as Boohoo deal shuts down stores
Some 600 sales staff are set to lose their jobs as The Estee Lauder Companies announced the closure of all counters across UK department store chain, Debenhams, according to a report published by The Times.
Jennifer Lopez launches ‘JLo’ lifestyle channel on Triller
Jennifer Lopez has launched a lifestyle channel on social media app Triller, named JLo, which will include beauty and fashion content.
Asos lumped with £15 million tariffs after Brexit deal
Asos is facing tariff costs of up to £15 million following the UK’s official departure from the European Union at the start of this year, according to a report published by the Evening Standard.
Former Mars exec joins Chanel as Global Head of Sustainability
Chanel has named Kate Wylie as Global Chief Sustainability Officer and President of Fondation Chanel, effective July 1, according to a report published by WWD.
Chanel launches podcast featuring Vogue’s Enninful and Tilda Swinton
Chanel has launched a podcast named Chanel Connects. The series is based on ‘what matters most and what happens next’, according to Chanel Global Head of Arts and Culture, speaking to Vogue UK.
Anna Wintour defends Kamala Harris Vogue cover following social media backlash
Vogue U.S. Editor-in-Chief Anna Wintour has defended the recent Vogue cover starring Vice President Elect Kamala Harris following a social media backlash over the lighting and styling of the imagery.
Kylie Jenner accused of ‘profiting off the pandemic’ following hand sanitizer launch
Kylie Jenner has faced backlash online over the launch of her new Kylie Skin hand sanitizer product, with fans accusing the entrepreneur of profiting from the pandemic.
iMedia announces 16 new brand launches across television networks: MAC, Annayake and Eleven Skin join roster
iMedia is set to launch 16 new brands across its three national television networks ShopHQ®, ShopBulldogTV and ShopHQHealth during Q1, with a focus on beauty and wellbeing.
LVMH appoints key personnel to run Tiffany post acquisition
It’s been quite the battle but LVMH has completed its takeover of US jewelry brand Tiffany at last and is putting some of its most trusted executives at the helm. Louis Vuitton executive Anthony Ledru has been named CEO, effective immediately.
Prada to close 2020 with an operating profit despite headwind caused by the pandemic
Prada has announced that it is to close 2020 with an operating profit thanks to markedly better revenues and profitability in the second half of the year offsetting the damage caused by the pandemic, according to a report by Reuters.
Lessons learned in 2020 – Retail
As pandemic-related closures forced us all off the high streets and onto the internet and essentially wiped out the travel retail channel, everything we thought we knew about shopping for beauty changed. For although online shopping has always been there, pre-Covid, the majority of beauty buyers still shopped in store. Accordingly, e-commerce development had lagged in recent years, leaving brands and retailers playing catch up.
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