Pharrell Williams teams up with Chanel to launch mentorship program for Black and Latinx entrepreneurs
Pharrell Williams has teamed up with fashion house Chanel via his equity-focused initiative Black Ambition to launch a two-part mentorship program for Black and Latinx entrepreneurs.
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H&M Q2 sales up 62 percent YOY; failed to reach pre-pandemic heights
Fashion and beauty retailer H&M has seen Q2 sales rise 62 percent between March and May, citing the easing of pandemic restrictions in many markets and the increased online demand, according to a report by Reuters.
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Chanel revenue down 18 percent year on year; invests record capital in long-term value
Chanel has reported revenue of US$10.1 billion, down 18 percent year on year compared to 2019, citing a ‘highly disrupted environment’ that led to the closure of its boutique and manufacture network, and the suspension of international travel.
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US shoppers duped out of US$28 billion in 2021 by fake online reviews
Fake online reviews will be behind some US$3.96 billion of online fashion sales in the US and US$800 million of beauty and personal care buys, according to a study conducted by CHEQ and the University of Baltimore.
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Marc Jacobs Fragrances hosts fundraiser to support the LGBTQIA+ community
Coty-owned Marc Jacobs Fragrances has announced that it will donate up to US$50,000 to The Lesbian, Gay, Bisexual & Transgender Community Center through an interactive social fundraiser on Cameo.
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Zara owner reports May sales above 2019 levels as store traffic bounces back
Inditex has reported a sales increase of some 50 percent in 1Q21 to €4.9 billion versus the prior year quarter with May sales above 2019 levels, indicating that consumption has bounced back after the pandemic shuttered stores.
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Hong Kong customs seize biggest haul to date of smuggled luxury goods
Hong Kong’s Customs and Excise Department has seized a cache of luxury goods worth some HK$120 million from smugglers, according to a report published by France24.
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Model Halima Aden returns to fashion industry with Tommy Hilfiger collaboration
US-Somali model Halima Aden has teased a return to the fashion world following her announcement back in October that she was quitting modelling.
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Zalando thanks staff for pandemic performance with extra holiday
Zalando has gifted all staff an additional five days of paid annual leave in recognition of their hard work over the course of the pandemic, according to a report published by Reuters.
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CEO for the day: A$AP Rocky takes the helm at Klarna for 24 hours
Rapper A$AP Rocky assumed the role of CEO for a day at Klarna at the start of June, in recognition of his recent investment in the global payments provider.
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Rapper Sean Combs teams up with Salesforce on launch of marketplace for Black-owned brands
Rapper Sean Combs, known as P Diddy, has teamed up with Salesforce to launch a digital marketplace for Black-owned brands, named Shop Circulate.
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La Perla to relaunch into beauty space
La Perla is set to relaunch its beauty line, according to a report published by WWD. The Italian lingerie brand called time on its licensing deal with Revlon last year, having launched its own beauty subsidiary in 2019 and the fruits of its labor are poised to hit shelves this summer.
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Bloomingdales unveils sexual wellness shop
Bloomingdales has jumped on the self-care trend with the launch of a sexual wellness shop aimed at helping shoppers to enhance their sex life and boost body positivity, according to a report published by The Zoe Report.
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Kering sells part of Puma stake for €805 million
Kering has announced the completion of the sale of part of its stake in Puma for €805 million. The owner of Gucci offloaded shares equivalent to 5.9 percent of the sportswear brand’s share capital.
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Authentic Brands Group plans IPO at $10 billion valuation in 2021
Authentic Brands Group, parent company of Forever 21, Juicy Couture and Brooks Brothers is reportedly planning a public listing this year, according to a report by Bloomberg.
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Bernard Arnault tops world’s richest person list as LVMH sales buck pandemic downturn
LVMH CEO Bernard Arnault has this week topped the Forbes’ world’s richest person list, worth an estimated net $186.3 billion, according to a report by the Financial Times.
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LVMH backs Bella Hadid as she speaks up for Palestine
LVMH is said to be backing Bella Hadid following her activism in support of Palestine during the ongoing conflict with Israel, according to a report by Instagram watchdog account Diet Prada.
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Maybelline collaborates with Japanese clothing brand Furifu on Traditions of Japan yukata collection
Maybelline has teamed up with Japanese clothing brand Furifu on a new retro-modern Traditions of Japan yukata collection, according to a report by Sora News.
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L Brands names CFOs for Bath & Body Works and Victoria’s Secret
L Brands has announced the appointment of Chief Financial Officers for its standalone Bath & Body Works and Victoria’s Secret businesses.
CLICK HEREGlass half full: Zalando debuts summer campaign, Activists of Optimism
Zalando has launched its new campaign, Activists of Optimism. After a year of global lockdowns and restrictions, the new marketing drive is aimed at celebrating positivity and spreading smiles.
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L Brands names new Board member
L Brands has announced that it has appointed JK Symancyk as an independent member of its Board of Directors, effective immediately. With this latest addition, the Board now consists of 11 Directors, 10 of whom are independent and six female.
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ASOS looks to diversity beyond fashion; eyes buyout of Cult Beauty or Feelunique
SOS is said to be among the interested parties in Cult Beauty and Feelunique as it looks to expand and diversify beyond fashion, according to Sky News
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LVMH Fashion Group creates new management role; appoints Sephora exec Guillaume Motte as Deputy CEO
The LVMH Fashion Group has appointed Sephora exec Guillaume Motte as its new Deputy CEO, according to a report by WWD.com.
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Is Victoria’s Secret up for sale again?
L Brands is rumored to have restarted talks over a possible sale of popular underwear brand Victoria’s Secret, according to a report published by Bloomberg quoting sources ‘familiar with the matter’.
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Chanel has lost a trademark battle at the EU General Court of the European Union in Luxembourg against Huawei Technologies over its famous logo.
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