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.
bankruptcy
Retail
For Barneys' Brands, It's All About Damage Control
Under the owner Authentic Brands Group, vendors will not only lose a long-term buyer but also endure deep discounts in Barneys liquidation sales.
For Barneys' Brands, It's All About Damage Control
Under the owner Authentic Brands Group, vendors will not only lose a long-term buyer but also endure deep discounts in Barneys liquidation sales.
Retail
It’s Official: Barneys New York's New Owner Is Authentic Brands Group
The licensing firm’s $271.4 million acquisition of the bankrupt luxury department store has closed, but there are plans to keep a physical footprint.
It’s Official: Barneys New York's New Owner Is Authentic Brands Group
The licensing firm’s $271.4 million acquisition of the bankrupt luxury department store has closed, but there are plans to keep a physical footprint.
Retail
Forever 21 Avoids Store Closures After Rent Cuts
The fast-fashion retailer will retain 60 of its US stores that were previously planned for closure after filing for bankruptcy in September.
Forever 21 Avoids Store Closures After Rent Cuts
The fast-fashion retailer will retain 60 of its US stores that were previously planned for closure after filing for bankruptcy in September.
News & Analysis
‘Retail Mayhem’: The Fight for Barneys Goes to Court
"It will affect everyone, even online."
‘Retail Mayhem’: The Fight for Barneys Goes to Court
"It will affect everyone, even online."
Financial Markets
Authentic Brands Declares Victory in Barneys Bid, But It's Not a Done Deal
Authentic Brands Group said it had succeeded in its bid for the luxury retailer, but two competing bidders say they are still in the running.
Authentic Brands Declares Victory in Barneys Bid, But It's Not a Done Deal
Authentic Brands Group said it had succeeded in its bid for the luxury retailer, but two competing bidders say they are still in the running.
Retail
Why Kith's First Investor Hasn't Given Up on Saving Barneys
With support from retail industry veterans including Andrew Rosen and billionaire Ron Burkle, Sam Ben-Avraham has raised $300 million for a competing bid against ABG and has his sight set on restoring Barneys to its former glory as New York’s coolest retailer.
Why Kith's First Investor Hasn't Given Up on Saving Barneys
With support from retail industry veterans including Andrew Rosen and billionaire Ron Burkle, Sam Ben-Avraham has raised $300 million for a competing bid against ABG and has his sight set on restoring Barneys to its former glory as New York’s coolest retailer.
Financial Markets
Authentic Brands Group Bids $271 Million For Barneys, Plans to Close All 7 Stores
The licensing group is the preferred bidder in an auction that runs through Oct. 22. If the bid succeeds, liquidation could start soon after.
Authentic Brands Group Bids $271 Million For Barneys, Plans to Close All 7 Stores
The licensing group is the preferred bidder in an auction that runs through Oct. 22. If the bid succeeds, liquidation could start soon after.
Retail
The Business of Saving Barneys
Reviving the upscale department store chain will take more than a Kith-like remake.
The Business of Saving Barneys
Reviving the upscale department store chain will take more than a Kith-like remake.
Financial Markets
Barneys Considers Buyout Proposal From Retail Investor Group
The effort is being led by Sam Ben-Avraham, known for his roles in starting New York retail store Atrium and streetwear brand Kith, said people familiar with the matter.
Barneys Considers Buyout Proposal From Retail Investor Group
The effort is being led by Sam Ben-Avraham, known for his roles in starting New York retail store Atrium and streetwear brand Kith, said people familiar with the matter.
Retail
Forever 21 Needs Older Shoppers to Come Back From Bankruptcy
The retailer filed for bankruptcy protection on Sunday, and its turnaround plan relies on luring in shoppers who are actually willing to buy clothes at full price.
Forever 21 Needs Older Shoppers to Come Back From Bankruptcy
The retailer filed for bankruptcy protection on Sunday, and its turnaround plan relies on luring in shoppers who are actually willing to buy clothes at full price.
Retail
Forever 21 Founders Borrowed $10 Million From Their Daughters
The offspring are now named as unsecured creditors of their parents’ company in the bankruptcy filings.
Forever 21 Founders Borrowed $10 Million From Their Daughters
The offspring are now named as unsecured creditors of their parents’ company in the bankruptcy filings.
News & Analysis
Forever 21 Files for Bankruptcy
The fast-fashion apparel retailer joins a growing list of brick-and-mortar players who have taken a hit from fierce e-commerce competition.
Forever 21 Files for Bankruptcy
The fast-fashion apparel retailer joins a growing list of brick-and-mortar players who have taken a hit from fierce e-commerce competition.
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.