Group Arnault acquires minority stake in Lagardère SCA
Bernaud Arnault has acquired a minority stake in publishing and retail group Lagardère SCA through his Group Arnault holding, according to a report by WWD.com.
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Avon branches out into facemasks
Avon is set to stock a series of protective fabric face masks alongside its lipsticks and moisturisers, according to a report published by ITV.
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Korea’s Handsome diversifies into cosmeceuticals with Cleangen acquisition
South Korean fashion brand Handsome has acquired a majority stake in K-beauty cosmeceutical brand Cleangen for KRW10 billion, according to a report published by Aju Daily.
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L Brands unveils new standalone plan for Victoria’s Secret following Sycamore sale collapse
L Brands has unveiled it is to operate Victoria’s Secret as a standalone business following the collapse of the Sycamore Partners deal, according to a report by Bloomberg.
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The Hut Group moves into freight with launch of THG Air
The Hut Group is taking distribution into its own hands. The global consumer brand group has announced a partnership with Singapore Airlines as well as the purchase of two cargo planes in order to launch THG Air.
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Jim Gerson named President for Speedo North America
Following the announcement that Pentland Group has completed the acquisition of Speedo North America, the company has announced that Jim Gerson is poised to return to the business as President.
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Sycamore pulls out of Victoria’s Secret sale
L Brands has announced that Sycamore Partners has delivered a notice purporting to terminate the agreement relating to the sale of a 55 percent interest in Victoria’s Secret.
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Hermes Q1 2020: store closures see revenue fall 6.5 percent
Hermes has reported its results for the quarter ended March 31, 2020. The luxury brand reported revenues of €1,506 million for the first three-months of the year, down 6.5 percent on last year’s figures.
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Resilient? LVMH sales plummet 15 percent
LVMH has reported its results for the first quarter of the current financial year. The luxury goods manufacturer saw revenue plunge 15 percent compared to the same period in 2019, for total sales of €10.6 billion.
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EDITED raises US$29 million to help retailers fight COVID-19 disruption with data
Retail decision platform EDITED has received significant investment to help the world’s largest retailers maximise profitability and reduce risks during uncertainty.
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