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.
brexit
News & Analysis
Messy Brexit Could Lead to Big Hit for UK Economy, Warns IMF
A vote to exit the European Union in next week's referendum could leave Britain's economy more than 5 percent smaller by 2019, the International Monetary Fund said.
Messy Brexit Could Lead to Big Hit for UK Economy, Warns IMF
A vote to exit the European Union in next week's referendum could leave Britain's economy more than 5 percent smaller by 2019, the International Monetary Fund said.
Global Markets
A ‘Brexit’ Would Be Bad for Fashion
Britain’s exit from the European Union would do real damage to the global fashion industry.
A ‘Brexit’ Would Be Bad for Fashion
Britain’s exit from the European Union would do real damage to the global fashion industry.
Retail
UK Retail Spending Flat in April as Cold Weather Further Dampens Consumer Mood
Retail spending was flat compared with last year for a second consecutive month during April, marked by weak demand for fashion and footwear.
UK Retail Spending Flat in April as Cold Weather Further Dampens Consumer Mood
Retail spending was flat compared with last year for a second consecutive month during April, marked by weak demand for fashion and footwear.
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.