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.
Johannesburg, South Africa
Beauty
South African Department Store Woolworths Partners With Beyoncé Makeup Artist
Like many of its peers, Woolworths has invested heavily in its beauty business by partnering luxury international brands such as House of Chanel, Estée Lauder and Jo Malone.
South African Department Store Woolworths Partners With Beyoncé Makeup Artist
Like many of its peers, Woolworths has invested heavily in its beauty business by partnering luxury international brands such as House of Chanel, Estée Lauder and Jo Malone.
Retail
South Africa's Woolworths Hit by Sluggish Sales, Earnings Warning
Sales at the local fashion, beauty and home business declined by 2 percent, with comparable store sales down 2.4 percent due to a significantly smaller winter clearance sale in the first quarter.
South Africa's Woolworths Hit by Sluggish Sales, Earnings Warning
Sales at the local fashion, beauty and home business declined by 2 percent, with comparable store sales down 2.4 percent due to a significantly smaller winter clearance sale in the first quarter.
News & Analysis
Nike Stores in South Africa Reopen Following Backlash Over Racist Video
Some stores were closed earlier in the week following a backlash over racist comments by a man said to have links to the US sportswear company.
Nike Stores in South Africa Reopen Following Backlash Over Racist Video
Some stores were closed earlier in the week following a backlash over racist comments by a man said to have links to the US sportswear company.
Global Markets
Nike Closes South African Stores After Racist Video Goes Viral
A Nike employee’s husband posted racist video while on vacation.
Nike Closes South African Stores After Racist Video Goes Viral
A Nike employee’s husband posted racist video while on vacation.
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Retail
South Africa's Long4Life to Buy Fashion Retailer Rage for $287 Million
The owner of Long4Life has made a string of acquisitions, including sporting goods retailer Holdsport and beauty chain Sorbet.
South Africa's Long4Life to Buy Fashion Retailer Rage for $287 Million
The owner of Long4Life has made a string of acquisitions, including sporting goods retailer Holdsport and beauty chain Sorbet.
News & Analysis
$117 Million South African Mohair Industry Threatened by H&M, Inditex Ban
Almost 70 companies, including H&M and Inditex, will stop using mohair following the release of video footage from 12 Angora goat farms in the Karoo region depicting animal cruelty.
$117 Million South African Mohair Industry Threatened by H&M, Inditex Ban
Almost 70 companies, including H&M and Inditex, will stop using mohair following the release of video footage from 12 Angora goat farms in the Karoo region depicting animal cruelty.
Global Markets
Op-Ed | It’s Time for Vogue Africa
With international editions of Vogue for the Middle East, Latin America and more recently for Poland and even the Czech Republic, calls for Vogue Africa are growing louder.
Op-Ed | It’s Time for Vogue Africa
With international editions of Vogue for the Middle East, Latin America and more recently for Poland and even the Czech Republic, calls for Vogue Africa are growing louder.
News & Analysis
Turning the Focus Back on South Africa
Executives need to keep a close eye on the South African fashion market as it could be poised for a rebound after years in the doldrums. Newly installed president Cyril Ramaphosa has a tall order but industry leaders are emboldened.
Turning the Focus Back on South Africa
Executives need to keep a close eye on the South African fashion market as it could be poised for a rebound after years in the doldrums. Newly installed president Cyril Ramaphosa has a tall order but industry leaders are emboldened.
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Marketing
South African Protesters Ransack H&M Stores Over 'Monkey' Hoodie Ad
Protesters angered by H&M's controversial picture of a black child trashed several of the Swedish fashion group's South African stores.
South African Protesters Ransack H&M Stores Over 'Monkey' Hoodie Ad
Protesters angered by H&M's controversial picture of a black child trashed several of the Swedish fashion group's South African stores.
Luxury
Report: South Africa's Taste Holdings Halts Sale of Hard Luxury Arm
The company has suspended the auction of its jewellery and high-end watches business after failing to find a buyer willing to pay their $31 million asking price.
Report: South Africa's Taste Holdings Halts Sale of Hard Luxury Arm
The company has suspended the auction of its jewellery and high-end watches business after failing to find a buyer willing to pay their $31 million asking price.
Beauty
L'Oreal Designs Hair Care for a New Market
The world’s biggest maker of beauty products is hoping to capture a market that it estimates at 100 million middle-class consumers.
L'Oreal Designs Hair Care for a New Market
The world’s biggest maker of beauty products is hoping to capture a market that it estimates at 100 million middle-class consumers.
Financial Markets
Bain Exit Leaves Edcon Struggling in South Africa Retail Slump
Bain Capital Partners LLC’s decision to walk away from Edcon Holdings Ltd. leaves South Africa’s largest clothing retailer to claw back market share.
Bain Exit Leaves Edcon Struggling in South Africa Retail Slump
Bain Capital Partners LLC’s decision to walk away from Edcon Holdings Ltd. leaves South Africa’s largest clothing retailer to claw back market share.
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.