LVMH Q3: cosmetics slump continues as group sales drop 7 percent
LVMH says it has seen a significant improvement in trends in the third quarter of 2020 however, the owner of Louis Vuitton and Givenchy still experienced a 7 percent drop in revenue in Q3 versus the same period in 2019.
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COVID-19 could wipe US$35 billion brand value from top brands but cosmetics unscathed
The GVC could wipe brand value equivalent to US$35 billion from the world’s 50 top luxury and premium brands, according to a report released by Brand Finance.
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Hudson’s Bay names first Vice President for Diversity and Inclusion
Hudson’s Bay has announced the landmark appointment of its first Diversity and Inclusion executive, effective November 23, according to a report published by WWD.
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Chanel and Tribeca take Through Her Lens filmmaker program online
Tribeca and Chanel have reaffirmed their commitment to creating new opportunities for women filmmakers, announcing a virtual gathering for the sixth annual Through Her Lens: The Tribeca Chanel Women’s Filmmaker Program.
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We’ll create 25 billion-dollar brands: LVMH Group Chairman to set up Asia-focused private equity fund
Chairman Emeritus of L Catterton Asia and Group Chairman, LVMH South and South East Asia and Australia & New Zealand, Ravi Thakran is poised to launch his own private equity fund, according to a report published by the Financial Times.
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H&M receives fine for employee surveillance in GDPR breach
Fashion and beauty retailer H&M has been fined €35.3m (£32.1m) for GDPR breaches after it was found to have carried out illegal surveillance on several hundred employees.
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Turkey e-commerce giant Trendyol enters European market with new website
Turkey’s e-commerce giant Trendyol has entered the European market with a new website that will serve 27 countries.
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Chanel purchases Bond Street store for £310 million
Chanel has reportedly purchased its Bond Street store for £310 million, in a show of confidence fo retail in London.
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Victoria Beckham debuts Posh lipstick range
Victoria Beckham has launched a range of lipsticks named for her Spice Girl moniker, Posh.
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Nordstrom launches nationwide recycling program for beauty products
US department store Nordstrom has partnered with TerraCycle to become the first major retailer to offer a nationwide recycling program for all brands of hard-to-recycle beauty packaging.
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Hit BBC series Killing Eve to break into beauty
AMC Networks and Sid Gentle Films have named IMG as the exclusive worldwide licensing representative for Killing Eve to bring consumer products inspired by the hit spy thriller to market via selective brand partnerships and collaborations.
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Fashion Weeks S/S21: the hair and beauty trends you need to know
It goes without saying that given current global events, fashion weeks the world over were decidedly different this fall. However, pandemic or no pandemic, the show must go on. While some decided to hold socially distanced audience events, many followed on from the...
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Chanel raises €600 million bond with climate clauses
Chanel has issued a €600 million sustainability-linked bond containing clauses connected to its environmental targets, according to a report published by Reuters.
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Celine names Blackpink’s Lisa global ambassador
Celine has announced its continued collaboration with Lisa, who will represent the house as global ambassador.
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LVMH submits Tiffany purchase to European Commission
LVMH has confirmed that it has submitted its proposed takeover of US jewellery brand Tiffany for approval by the European Commission.
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L’Oréal and Kering founding sponsors for Hi! Paris research centre
L’Oréal and Kering are amongst the five founding sponsors of the new Hi! Paris research centre, according to WWD.com.
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THG shares surge as company raises $2.4 billion in an IPO to ride digital Wave
The Hut Group has raised $2.4 billion in a London initial public offering (IPO), a move which sent the company shares soaring up to 32 percent.
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Amazon evolves in premium market with launch of Luxury Stores
Amazon has evolved in the premium market with the launch of its new Luxury Stores concept, with Oscar de la Renta unveiling the first store featuring its Pre-Fall and Fall/Winter 2020 collection.
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Chanel appoints Agathe Derain into newly created Head of Human Rights sustainability role
Chanel has announced the appointment of Agathe Derain into the newly created position of Head of Human Rights, Corporate Sustainability, effective 1st September.
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L Brands sells majority stake of Victoria’s Secrets’ UK business to British retailer Next
L Brands has entered into a joint venture (JV) with British retailer Next, who will a acquire a 51 percent majority stake in Victoria’s Secrets UK and Ireland, which is currently in administration.
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& Other Stories trials beauty vending machine
H&M’s & Other Stories brand is trialling a vending machine in store at its Galeries Lafayette branch, according to a report published by Fashion United.
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Inter Parfums issues 2020 guidance; expects net sales to plummet 38 percent
Inter Parfums has announced that it expects 2020 sales to reach roughly US$442 million, a drop of some 38 percent on 2019’s figures. However, given the significant impact of the COVID-19 pandemic, Chairman and CEO Jean Madar professed the company ‘reasonably pleased’ with that for the year as a whole.
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Tiffany to sue LVMH over stalled take-over bid
Tiffany has announced it is to sue LVMH over the deliberate stalling of its takeover deal, worth $16bn, according to a report by the Financial Times.
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LVMH North America appoints Corey Smith VP of Diversity and Inclusion
LVMH North America has drafted in Corey Smith to boost diversity throughout the luxury goods group via the newly created role of Vice President of Diversity and Inclusion, according to a report published by WWD.
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Macy’s reports Q2 loss; bolstered by soaring online sales
Macy’s has reported a narrower Q2 loss than expected, bolstered by a better-than-expected surge in online sales.
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