De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Tokyo, China
Retail
Uniqlo Owner's Profit Falls Short Despite Gains in China
Fast Retailing Co.’s weak performance in Japan overshadowed a strong showing in its overseas markets, particularly China.
Uniqlo Owner's Profit Falls Short Despite Gains in China
Fast Retailing Co.’s weak performance in Japan overshadowed a strong showing in its overseas markets, particularly China.
China
China Puts a Pretty Face on Shiseido's Sales
Widening losses in the US and Europe and a company supply shortage caused a 29 percent slide in fourth-quarter operating profit, despite an 8.9 percent rise in 2018 sales.
China Puts a Pretty Face on Shiseido's Sales
Widening losses in the US and Europe and a company supply shortage caused a 29 percent slide in fourth-quarter operating profit, despite an 8.9 percent rise in 2018 sales.
Global Markets
In Japan, Luxury Flourishes While Economy Flounders
Japan’s economy is dipping in and out of recession, but the country is still one of the bright spots in the global luxury goods market. BoF reports.
In Japan, Luxury Flourishes While Economy Flounders
Japan’s economy is dipping in and out of recession, but the country is still one of the bright spots in the global luxury goods market. BoF reports.
Financial Markets
Shiseido Jumps by Record as Tourist Buying Fuels Gain in Profit
Shiseido Co. surged by the most on record in Tokyo trading after the Japanese cosmetics maker reported that buying by tourists helped fuel profit that beat analyst estimates.
Shiseido Jumps by Record as Tourist Buying Fuels Gain in Profit
Shiseido Co. surged by the most on record in Tokyo trading after the Japanese cosmetics maker reported that buying by tourists helped fuel profit that beat analyst estimates.
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Retail
Uniqlo Steps Up Controls on China Suppliers
Japanese fashion giant Fast Retailing Co. is tightening controls on treatment of workers at key suppliers' factories in China following complaints by labor rights groups.
Uniqlo Steps Up Controls on China Suppliers
Japanese fashion giant Fast Retailing Co. is tightening controls on treatment of workers at key suppliers' factories in China following complaints by labor rights groups.
Global Markets
Belle Buys Stake in Baroque Japan, Aims to Create Fashion Empire Across Asia
Baroque Japan — owner of womenswear brands including Moussy, Sly, Rodeo Crowns, Shelter, Black and Rienda — has a new Chinese majority shareholder, which already owns some 25 percent of the Chinese footwear market and aims to create one of the biggest fashion retailers in Asia. JapanConsuming reports.
Belle Buys Stake in Baroque Japan, Aims to Create Fashion Empire Across Asia
Baroque Japan — owner of womenswear brands including Moussy, Sly, Rodeo Crowns, Shelter, Black and Rienda — has a new Chinese majority shareholder, which already owns some 25 percent of the Chinese footwear market and aims to create one of the biggest fashion retailers in Asia. JapanConsuming reports.
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The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.