Media Hype

Strict labour laws in the US have long stood in the way of unionising efforts in creative industries like fashion. But in light of Hollywood’s historic strike and the ever-burgeoning gig economy, the tides may be shifting. from Business of Fashion https://ift.tt/usxfIz6

The company now expects full-year 2023 revenue between $9.51 billion and $9.570 billion, compared with its prior estimate of $9.44 billion to $9.51 billion. from Business of Fashion https://ift.tt/JicuqP0

The move comes ahead of new designer Sabato de Sarno’s high-stakes debut at Milan Fashion Week. US-based Gucci marketing veteran Susan Chokachi is set to exit the brand. from Business of Fashion https://ift.tt/a37pPVq

A new wave of haircare gurus who are just as much at home on Instagram as the salon are driving booming sales for prestige hair products at beauty retailers like Sephora and Ulta. from Business of Fashion https://ift.tt/XsJVxmC

Revolution Beauty Group on Thursday appointed Lauren Brindley as its CEO as the British makeup company is roiled by accounting investigation and shareholder calls for better management. from Business of Fashion https://ift.tt/C5cFRMk

The streetwear giant’s creative director has submitted a letter of resignation, seen by BoF. Emory was Supreme’s first major appointment since it was acquired by VF Corp in 2020. from Business of Fashion https://ift.tt/LmOXRwc

Its flagship brand struggled following the departure of its creative director but better growth was seen at other labels. from Business of Fashion https://ift.tt/2PBqWvL

Johnson & Johnson cut its guidance for 2023 adjusted profit after separating the Kenvue Inc. consumer health company. from Business of Fashion https://ift.tt/PVvWmBo

The Digital Services Act could impact how fashion brands and marketers reach their online audiences, particularly if they depend on algorithmic recommendations for visibility and engagement. from Business of Fashion https://ift.tt/AoEGhWi

The Chinese luxury group generated HKD 505.4 million (US$64.4 million) in the six months ended June 30, calling the period "challenging." from Business of Fashion https://ift.tt/WlaqfzK

Theory, the New York-based contemporary fashion brand owned by Japanese conglomerate Fast Retailing, has appointed Marco Gentile to be its new chief executive officer for the UK and Europe. from Business of Fashion https://ift.tt/E1skd04

Theory, the New York-based contemporary fashion brand owned by Japanese conglomerate Fast Retailing, has appointed Marco Gentile to be its new chief executive officer for the UK and Europe. from Business of Fashion https://ift.tt/1Gms7JE

The buy-now, pay-later platform has withdrawn its sponsorship of Australian Fashion Week, after signing a three-year deal for the naming rights of the event in 2020. from Business of Fashion https://ift.tt/49nbCum

Republican attorneys general from 16 US states asked the Securities and Exchange Commission to audit China-founded fast-fashion retailer Shein’s supply chain for the use of forced labour ahead of its potential initial public offering. from Business of Fashion https://ift.tt/7lSj8Y6

The purchase of the high-growth indie label marks the company’s first M&A deal since 2020. from Business of Fashion https://www.businessoffashion.com/articles/beauty/elf-buys-naturium-bets-big-on-skin-care/

The timepieces priced above $250,000 signal a very specific kind of status. from Business of Fashion https://ift.tt/waVtMPQ

The value of a newly acquired brand can plummet if the people who made it a creative and commercial force rush for the exits as soon as the deal closes. from Business of Fashion https://ift.tt/d0qJz4f

The Fédération de la Haute Couture et de la Mode, Paris Fashion Week’s governing body, released its schedule for the Spring/Summer 2024 season, which will run from Sept. 25 to Oct. 3. from Business of Fashion https://ift.tt/mgM50jQ

Uniqlo owner Fast Retailing Co.’s global business head will become chief operating officer, as the retail giant grooms the next generation of leaders who might one day take the reins from founder Tadashi Yanai. from Business of Fashion https://ift.tt/AbCiMs7

Brazilian cosmetics maker Natura &Co on Monday said its board of directors had authorised the company to search for “strategic alternatives” for its subsidiary The Body Shop, including a potential sale of the business. from Business of Fashion https://ift.tt/0P879qi

Designer houses are marketing formerly disposable beauty products into collectibles, with prices to match. Welcome to the age of $500 lipstick. from Business of Fashion https://ift.tt/zcphbLj

Efforts to measure the environmental impact of clothes have a fatal flaw: They don’t account for overproduction, argues Beth Esponnette. from Business of Fashion https://ift.tt/G2BbvTU

The end of back-to-school season puts the focus on all-important holiday sales. Mixed signals on consumer spending make forecasters’ jobs even more complicated than usual. That, plus what else to watch for in the coming week. from Business of Fashion https://ift.tt/tjRLov2

Leonard A. Lauder, the billionaire heir to the Estée Lauder Companies cosmetics fortune, plans to step down from the company’s board of directors in November of this year. from Business of Fashion https://ift.tt/qTf8aJk

Ulta Beauty on Thursday raised its annual earnings and revenue forecast, bolstered by resilient demand for its premium cosmetics and fragrances despite a broader decline in discretionary spending, and posted a better-than-expected quarterly profit. from Business of Fashion https://ift.tt/k6uSrbc

Gap Inc forecast third-quarter sales below expectations and missed Wall Street estimates for quarterly sales. from Business of Fashion https://ift.tt/52Z9A7I

Canada’s corporate ethics watchdog on Thursday announced investigations into the Canadian units of Walmart and Hugo Boss to probe allegations of Uyghur forced labour in the companies’ supply chains and operations. from Business of Fashion https://ift.tt/KyfjGaI

Rolex SA is buying the luxury retailer Bucherer AG in a deal that will give the biggest Swiss watch brand a major presence in consumer sales for the first time. from Business of Fashion https://ift.tt/ryMGR7N

The England goalkeeper Mary Earps’ penalty save in the Women’s World Cup final was one of the most nail-biting moments of the tournament, and there was a public outcry from fans when Nike refused to sell replicas of her green jersey. from Business of Fashion https://ift.tt/Qtz9acC

Heaven, the designer label’s lower priced diffusion line that leans on grunge, rave and Y2K, has been a hit with younger shoppers. Marc Jacobs Beauty, under Coty, should follow its lead. from Business of Fashion https://ift.tt/VbPq7sU

Online fast fashion juggernaut Shein and SPARC Group — a joint venture between licensing firm Authentic Brands Group and mall operator Simon Property Group — have formed a partnership that could see Forever 21 clothing and accessories sold on Shein’s site, and Shein roll out shop-in-shops inside Forever 21 Stores. from Business of Fashion https://ift.tt/JQGuTZK

The retailer temporarily closed its stores in Ukraine following Russia’s invasion of the country in February of last year. from Business of Fashion https://ift.tt/S25LOTA

The Berlin-based art star is selling hoodies, T-shirts, bombers and caps from her latest exhibition at Dover Street Market. from Business of Fashion https://ift.tt/7Jc3Di0

The apparel company is betting its new CEO, Richard Dickson, can emulate the success he found at Mattel. from Business of Fashion https://ift.tt/LMvpTeG

Shares of Foot Locker cratered over 30 percent in premarket trading on Wednesday and dragged down those of its rivals after the retailer lowered its annual forecasts as it reels from weaker consumer demand in the face of still-high inflation. from Business of Fashion https://ift.tt/AGCXTo0

Trade groups including the American Apparel & Footwear Association and Council of Fashion Designers of America are supporting a state bill that would require big companies to report on their greenhouse-gas emissions. from Business of Fashion https://ift.tt/bpZxQPW

Kohl’s Corp. profit topped estimates as inventory levels fell, suggesting the retailer’s efforts to clear excess merchandise are working. from Business of Fashion https://ift.tt/84a1Cgr

Abercrombie & Fitch Co. soared after hiking its full-year guidance, a sign that some teens and young millennials are still eager to spend if the styles and prices are right. from Business of Fashion https://ift.tt/MYn6mWp

The Gulf sovereign wealth fund will acquire a 1 percent stake in Mukesh Ambani’s conglomerate, nearly doubling its valuation to $100 billion from its last funding round in 2020. from Business of Fashion https://ift.tt/zJW0hXq

One start-up is trying to shake up the lucrative and entrenched off-price ecosystem by building an online marketplace to more efficiently connect sellers and buyers of retail’s excess inventory. from Business of Fashion https://ift.tt/mjGNkKg

Amazon just closed most of its in-house clothing brands and Macy’s is rethinking its approach. But when done right, store lines can take on a life of their own. from Business of Fashion https://ift.tt/1ZykPFE

Dick’s Sporting Goods saw reduced profits in the second quarter of the year, blaming an increase in retail theft, also called “shrink” or “shrinkage” in the retail industry. from Business of Fashion https://ift.tt/vDIZQtl

Nike Inc. shares are on track to suffer a record streak of losses as concern over China’s sluggish consumer recovery builds, and elevated merchandise stockpiles continue to weigh on profitability across the activewear industry. from Business of Fashion https://ift.tt/E1vJIo3

Macy’s Inc. comparable sales beat analyst expectations, but a significant drop from a year ago shows that department store customers are pulling back on purchases. from Business of Fashion https://ift.tt/YNaKlTi

CoverGirl parent Coty forecast annual profit below Wall Street expectations on Tuesday, signalling a hit from steeper input expenses in the first half of the year, and said it would raise product prices as it battles higher costs and a strong dollar. from Business of Fashion https://ift.tt/o1kfpvM

This week’s round-up of global markets fashion business news also features pan-African e-commerce major Jumia, the Kuwaiti venture of UAE-based Apparel Group and a wage hike for Cambodian garment workers. from Business of Fashion https://ift.tt/vaoyO19

Some of the savings from the cuts will be used to hire more workers in other areas, the person said, asking not to be identified because the information isn’t public. Retail employees weren’t affected by the cuts. from Business of Fashion https://ift.tt/0eHOC5N

For much of the last decade, advocates for sustainable businesses have argued that reporting on ESG measures would lead to a sustainable future. It hasn’t happened, writes Kenneth Pucker. from Business of Fashion https://ift.tt/qt8KIX9

Coty is preparing to relaunch the designer’s cosmetics line, which closed abruptly in 2021 to the dismay of its small but devoted fan base. from Business of Fashion https://ift.tt/jJkuC3I

Walmart and Centric Brands are investigating their supply chains in Cambodia over allegations that inmates at the country’s largest women’s prison were illegally employed to produce garments for export. from Business of Fashion https://ift.tt/4IbF5Lp

Private equity shops and venture capitalists are being more discerning with their dollars and yet capital is still critical for emerging brands seeking to stand out in a competitive landscape. from Business of Fashion https://ift.tt/o4mnEks

Check out this week’s new partners and openings on BoF Careers, the global marketplace for fashion talent. from Business of Fashion https://ift.tt/EgXJqNe

The secondary market for luxury goods holds significant promise, but there are several key challenges to overcome, writes Luca Solca. from Business of Fashion https://ift.tt/hxi6vop

Shein, founded in China, is gaining a foothold in a nascent e-commerce market in the most industrialised country in Africa and is squaring up to US giants Walmart Inc. and Amazon.com Inc., who want to do the same. from Business of Fashion https://ift.tt/p9Q0A1v

A bevy of multibrand retailers will give the clearest view yet on the consumer mindset. That, plus what else to watch for in the coming week. from Business of Fashion https://ift.tt/XT3glHk

While the rest of fashion contends with uneven demand, off-price chains like T.J.Maxx and Ross Stores have proved to be a bright spot. from Business of Fashion https://ift.tt/YKhfn5m

Companies like Nike and Adidas see big growth opportunities in women’s football. But while the game is often marketed with an inspirational wrapper of female empowerment, its growing prominence has also drawn attention to the persistent exploitation of largely women workers in the apparel and footwear supply chain. from Business of Fashion https://ift.tt/InPFkzl

Farfetch reported disappointing sales and lowered its outlook for the rest of the year. Its own brands, including Off-White and a Reebok license, were hardest hit. from Business of Fashion https://ift.tt/Y8X3nOF

The company’s sluggish sales in Asia and supply-chain missteps have left it trailing behind the French beauty giant. from Business of Fashion https://ift.tt/HC3S1od

Coach parent Tapestry, which agreed to buy Capri last week, forecast fiscal 2024 profit and sales below estimates on Thursday after waning US demand for its luxury handbags hurt fourth-quarter results. from Business of Fashion https://ift.tt/VYm9QzW

The world’s second-biggest fashion retailer, H&M, has decided to gradually stop sourcing from Myanmar, it told Reuters on Thursday, as reports of labour abuses in garment factories in the country increase. from Business of Fashion https://ift.tt/PfT53nu

BoF Careers provides essential sector insights for fashion's technology and e-commerce professionals this month, to help you decode fashion’s commercial and creative landscape. from Business of Fashion https://ift.tt/Kg0S78E

The bankrupt biotech manufacturer-turned-beauty conglomerate has put Biossance, Jonathan Van Ness’ JVN and other lines up for sale. Is anyone buying? from Business of Fashion https://ift.tt/PhlRUIz

British menswear designer Craig Green has been appointed to lead the fashion design department at the University of Applied Arts Vienna from Business of Fashion https://ift.tt/5Adf7Ts

Former Givenchy artistic director Clare Waight Keller has designed a collection for Uniqlo, dubbed Uniqlo: C, which will be available to purchase in mid-September. from Business of Fashion https://ift.tt/7CUrxK4

Target cut its full-year sales and profit expectations even as its quarterly profit exceeded Wall Street estimates on Wednesday, benefiting from fewer discounts and better-stocked store shelves. from Business of Fashion https://ift.tt/iaAwLIp

TJX Cos raised its outlook for fiscal 2024 on Wednesday, buoyed by steady sales of its discount apparel and accessories and an uptick in demand for home decor goods. from Business of Fashion https://ift.tt/7nxX3R2

Brazilian cosmetics maker Natura & Co expects its accounts to improve in the second half of the year after a soft start to 2023, executives said on Tuesday, with a cash boost scheduled from the sale of its Aesop brand and strategic changes. from Business of Fashion https://ift.tt/rlAx7sf

The Swedish fast fashion giant is investigating 20 alleged instances of labour abuse at its Myanmar suppliers just weeks after top rival Inditex said it was phasing out factories in the Southeast Asian country. from Business of Fashion https://ift.tt/HYA3EZa

The Gen-Z intimates brand’s sale to a little-known strategic is the latest in an ongoing series of less than desirable exits for unprofitable digitally-native start-ups. from Business of Fashion https://ift.tt/qVl5I1d

Kapoor took up the top editorial job at Vogue’s Indian edition in September 2021 after the ouster of founding editor Priya Tanna as part of a major restructuring at parent company Condé Nast. from Business of Fashion https://ift.tt/zsSpj3K

Pandora A/S raised its revenue forecast on strong demand as the Danish jewellery chain expands sales of lab-grown diamonds, aiming to popularise the cheaper alternatives to mined gems. from Business of Fashion https://ift.tt/IpDV8nJ

British retailer Marks & Spencer raised its profit outlook on Tuesday, saying demand in stores had helped it to win new customers for its clothing, home and food businesses, sending its shares up sharply. from Business of Fashion https://ift.tt/XPmwQkM

Big brands are betting on regenerative agriculture to help reduce their environmental impact. But without clearer standards, the fashionable concept risks becoming a greenwashing tool. from Business of Fashion https://ift.tt/gUZxEDr

SKYPAD, a B2B SaaS platform which offers sell-through data distribution and streamlined reporting to partner retailers like Saks and fashion brands including Robert Graham, is designed to meet industry needs around increased transparency on product performance and agility in a changeable market. from Business of Fashion https://ift.tt/q7fPtwy

The daily usage of Threads, Meta’s answer to Twitter, continues to slump after a strong start in its first weeks of existence. from Business of Fashion https://ift.tt/BvltXTK

BoF Careers provides essential sector insights for fashion designers this month, to help you decode fashion’s creative and commercial landscape. from Business of Fashion https://ift.tt/ZUlLV4x

The e-commerce platform allows stylists and personal shoppers to serve their clients more than 100 brands on one interface. from Business of Fashion https://ift.tt/Aj6fqs3

Consumers can find discounts from countless retailers year round. Getting sought-after labels to join the fray is just one way the merchandiser’s job has grown more complex. from Business of Fashion https://ift.tt/FGJRsLx

Brands like Warby Parker, Allbirds and Olaplex have successfully slashed digital advertising costs. Now they need to figure out new ways to find customers. from Business of Fashion https://ift.tt/LgZe85o

This week will bring more readings on consumer prices from Japan, the UK and Eurozone, plus a financial update from Tapestry, fresh off its acquisition of Capri. That, plus what else to watch for in the coming days. from Business of Fashion https://ift.tt/nDQSBVE

The leading Chinese sportswear group maintained its previous expectation to grow its top line by about 15 percent for this year. from Business of Fashion https://ift.tt/tgX4Avl

How the American ‘accessible luxury’ group Tapestry can capitalise on its newly acquired brands and more from BoF’s Imran Amed. from Business of Fashion https://ift.tt/0xGBXcm

This week, the Australian label’s founders and private equity backers sold a majority stake to Advent International in a deal valuing the business at just over $1 billion at a time when others in the accessible luxury space have struggled to find buyers. from Business of Fashion https://ift.tt/dcAaKg0

When Ben Gorham of Byredo and Monique Rodriguez of Mielle Organics sold the businesses they spent years building, the financial milestone was just the culmination of more meaningful professional journeys that began with a clear sense of purpose. from Business of Fashion https://ift.tt/Mn2JP0R

After two decades of investing in the science of retail, it’s time for the industry to better balance technology solutions with a deeper understanding of art, writes Doug Stephens. from Business of Fashion https://ift.tt/ebyGwSm

By putting Coach, Michael Kors, Versace and other brands under one roof, the combined company instantly vaults to the top of US fashion groups and creates something genuinely new in the industry: an American accessible luxury giant. from Business of Fashion https://ift.tt/UoDcV9I

The luxury fragrance brand has proven time and again that it knows how to win over the youth market. Its latest scent, MYSLF, aims to embody Gen-Z ideas around self-expression — to a point. from Business of Fashion https://ift.tt/HNhUmSl

The news comes just days after the company shut down its Onda Beauty and Costa Brazil brands. from Business of Fashion https://ift.tt/i1uJI97

The parent company of Coach is taking control of the brands, owned by Capri Holdings, adding heft to its portfolio in a bid to better compete with Europe’s luxury heavyweights. from Business of Fashion https://ift.tt/FiKCw3A

The maker of Louis Vuitton bags rose as much as 2.6 percent in Paris, Hermès International gained 2.4 percent and L’Oréal SA advanced 1.8 percent, adding about €20 billion ($22 billion) in combined market value. from Business of Fashion https://ift.tt/vCK2aP1

The owner of Coach is nearing a deal to buy Michael Kors and Versace owner Capri Holdings, according to a report in the Wall Street Journal. from Business of Fashion https://ift.tt/jsRUziK

Luxury brands are betting on store upgrades, tax-free shopping and VIC strategies to drive sales in China, writes Pierre Mallevays. from Business of Fashion https://ift.tt/bZ2qPy8

The RealReal and ThredUp are both eyeing at least EBITDA breakeven by 2024. from Business of Fashion https://ift.tt/fHaY6UZ

Executives have been highlighting the technology more often on earnings calls, suggesting more businesses are adopting it — and maybe giving it a shoutout to impress investors. from Business of Fashion https://ift.tt/xSlY7FX

Warby Parker reported another quarter of growing sales and profit. The eyewear maker’s revenue grew 11 percent to $166 million in the second quarter of the year, and it generated $14 million in adjusted earnings before interest, taxes, depreciation and amortisation, up from $6 million a year earlier. from Business of Fashion https://ift.tt/neQgCVj

The fashionable hotel group is set to add another five to seven Italian locations to its portfolio with the backing of new investor Aermont Capital. from Business of Fashion https://ift.tt/wYpNlPd

Allbirds on Tuesday reported a smaller-than-expected revenue dip in the second quarter. The company’s sales fell 10 percent year over year to $71 million. from Business of Fashion https://ift.tt/m8fvIRO

Britain’s biggest sportswear retailer JD Sports Fashion, said on Tuesday it will acquire the remaining 40 percent stake it does not own in Marketing Investment Group (MIG) from the Polish retailer’s minority shareholders. from Business of Fashion https://ift.tt/ujKHQcs

Olaplex Holdings Inc. shares sank in early trading after the haircare company cut its full-year sales guidance amid weak demand. from Business of Fashion https://ift.tt/iA5IUDj

As the climate around diversity initiatives shifts, the nonprofit is adapting its messaging to emphasise the need for long-term, structural changes over quick fixes. from Business of Fashion https://ift.tt/4RN3eAQ

Auberge Resorts Collection CMO Mike Minchin shares how an evolution of experience-driven travel and turn-key service are bolstering success in the hospitality sector — and how fashion can stand to benefit. from Business of Fashion https://ift.tt/XU1hnCo

Private equity firm Advent International is nearing a deal to acquire Zimmermann in a transaction valuing the Australian fashion brand at about $1 billion, people familiar with the matter said. from Business of Fashion https://ift.tt/J7oP6kZ

SKKY Partners, a private equity firm founded by Kim Kardashian, announced it has tapped Angela Ahrendts as a senior operating advisor. from Business of Fashion https://ift.tt/Ex4I0dN

At least 43 employees across both teams in New York will be let go, according to a person familiar with the matter, as the beauty conglomerate struggles to find its footing. from Business of Fashion https://ift.tt/jRrhYak

Struggling British fashion brand Superdry said on Monday it has secured additional funding of up to £25 million ($32 million) from restructuring specialist Hilco Capital but faces paying interest of just under 16 percent. from Business of Fashion https://ift.tt/JsuT1Ii

BoF Careers provides essential sector insights for fashion PR & communications professionals this month, to help you decode fashion’s creative landscape. from Business of Fashion https://ift.tt/ikm6Asq

For nearly a decade the beauty brand has built its marketing around sending social media celebrities on lavish vacations, a practice that’s become increasingly controversial. Could a trip to New York for 13 ordinary customers and their plus-ones to see Beyoncé in concert alter that perception? One reporter tagged along to find out. from Business of Fashion https://ift.tt/rkKvN7b

On Saturday, new Gucci creative director Sabato De Sarno offered a glimpse of his vision for the stalled Italian megabrand, posting an image from a high jewellery campaign starring model Daria Werbowy to his personal Instagram account. from Business of Fashion https://ift.tt/7SA13rM

This week, Ralph Lauren and Michael Kors owner Capri report financial results, and likely clues to how well-off, but not that well-off, consumers are spending their money. That, plus what else to watch for in the coming week. from Business of Fashion https://ift.tt/6h035p9

Check out this week’s new partners and openings on BoF Careers, the global marketplace for fashion talent. from Business of Fashion https://ift.tt/eMayXG2

The co-founder and chief innovation officer of the Nasdaq-listed sneaker brand reflects on how his time as a professional footballer prepared him to lead a business through the highs and the lows. from Business of Fashion https://ift.tt/S09XUm4

Discover the most exciting career opportunities now available on BoF Careers — including jobs from Prada Group, Joseph and Carolina Herrera. from Business of Fashion https://ift.tt/hieSjOo

The company, which runs shops at airports, on cruise liners, in seaports, and other tourist locations worldwide, posted a jump in its turnover of 95.6 percent to 5.72 billion Swiss francs ($6.54 billion), which is 27 percent above the pre-pandemic 2019 level. from Business of Fashion https://ift.tt/wlNkJUP

Sportswear giants like Nike and Adidas churn out mountains of apparel and equipment for their sponsored teams each season, the bulk of which ends up in the trash. Now, start-ups and designers are trying to reduce waste by upcycling this unused merch. from Business of Fashion https://ift.tt/FBxMTy9

Canada Goose Holdings forecast current-quarter sales below Wall Street estimates on Thursday due to choppy US demand, taking the shine off of upbeat first-quarter results driven by a rebound in China and sending its shares down 7 percent. from Business of Fashion https://ift.tt/zad3OwN

The beauty influencer is launching his own brand, Painted, part of a wider comeback effort after allegations of sexual harassment and racist tweets. But are consumers ready to forgive and forget? from Business of Fashion https://ift.tt/HISEVyP

Its second-quarter adjusted earnings before interest and tax (EBIT) grew 87 percent, to €144.8 million ($158.24 million), compared with the same quarter last year. from Business of Fashion https://ift.tt/ZNJWQMn