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.
business-growth
Financial Markets
Amazon Says ‘Prime Day’ Sales Up 30 Percent for Merchants
Amazon.com said Prime Day sales from third-party merchants surged 30 percent compared with a year earlier, fuelled largely by international demand.
Amazon Says ‘Prime Day’ Sales Up 30 Percent for Merchants
Amazon.com said Prime Day sales from third-party merchants surged 30 percent compared with a year earlier, fuelled largely by international demand.
Financial Markets
Op-Ed | How Small Brands Can Face Heavyweights
A global network enabling shared data, manufacturing resources and a sales force of independent stylists is the solution to the challenges facing start-up fashion businesses, argues Adam Pritzker.
Op-Ed | How Small Brands Can Face Heavyweights
A global network enabling shared data, manufacturing resources and a sales force of independent stylists is the solution to the challenges facing start-up fashion businesses, argues Adam Pritzker.
Financial Markets
Young Turks: E-Commerce Start-Ups Bet On Enviable Demographics
The potential for online retail growth in Turkey is increasingly attracting overseas players and investors.
Young Turks: E-Commerce Start-Ups Bet On Enviable Demographics
The potential for online retail growth in Turkey is increasingly attracting overseas players and investors.
Retail
Finish Line Surges After Adidas Sales Help Results Top Estimates
Finish Line Inc. surged the most in more than seven years after beating first-quarter expectations in a weak retail environment, helped by strong sales of Adidas brand shoes.
Finish Line Surges After Adidas Sales Help Results Top Estimates
Finish Line Inc. surged the most in more than seven years after beating first-quarter expectations in a weak retail environment, helped by strong sales of Adidas brand shoes.
Financial Markets
SoftBank Sees Up to $2.4 Billion Profit on Alibaba Share Sale
SoftBank has said it expects to book a profit of between 200 billion yen and 250 billion yen ($1.9 billion-$2.4 billion) this financial year on the sale of its shares in Alibaba.
SoftBank Sees Up to $2.4 Billion Profit on Alibaba Share Sale
SoftBank has said it expects to book a profit of between 200 billion yen and 250 billion yen ($1.9 billion-$2.4 billion) this financial year on the sale of its shares in Alibaba.
Financial Markets
Inditex Profit Beats Estimates, Outpacing Main Fashion Rival H&M
Operating profit increased 6 percent to €705 million ($790 million) in the three months through April, Inditex said.
Inditex Profit Beats Estimates, Outpacing Main Fashion Rival H&M
Operating profit increased 6 percent to €705 million ($790 million) in the three months through April, Inditex said.
Retail
Uniqlo Wants to Become World's Biggest Apparel Maker
Uniqlo has leveraged its prowess in mass production to build a fashion empire filled with shelves upon shelves of affordable, good quality items like down jackets, underwear and T-shirts.
Uniqlo Wants to Become World's Biggest Apparel Maker
Uniqlo has leveraged its prowess in mass production to build a fashion empire filled with shelves upon shelves of affordable, good quality items like down jackets, underwear and T-shirts.
Financial Markets
Nike, Adidas Replace Big-Name Luxury as China Goes Casual
Chinese consumers, who want to make statements when they go shopping, are increasingly turning to Western sports brands.
Nike, Adidas Replace Big-Name Luxury as China Goes Casual
Chinese consumers, who want to make statements when they go shopping, are increasingly turning to Western sports brands.
Financial Markets
Alibaba Sees Growth Rising to 48 Percent in First Forecast
Alibaba Group Holding Ltd. said that revenue growth will accelerate this fiscal year as China’s largest e-commerce company provided its first financial forecast since going public in 2014.
Alibaba Sees Growth Rising to 48 Percent in First Forecast
Alibaba Group Holding Ltd. said that revenue growth will accelerate this fiscal year as China’s largest e-commerce company provided its first financial forecast since going public in 2014.
Financial Markets
Alibaba Expects to Nearly Double Transactions Volume by 2020
Alibaba said it expects to record 6 trillion yuan (over $900 billion) in gross merchandise volume in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016.
Alibaba Expects to Nearly Double Transactions Volume by 2020
Alibaba said it expects to record 6 trillion yuan (over $900 billion) in gross merchandise volume in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016.
Financial Markets
Ralph Lauren Hires Coach CFO as It Shakes Up Management Ranks
Jane Nielsen will join the fashion house as chief financial officer in September.
Ralph Lauren Hires Coach CFO as It Shakes Up Management Ranks
Jane Nielsen will join the fashion house as chief financial officer in September.
Financial Markets
Lululemon Sales Beat Estimates as New Products Draw Customers
Lululemon Athletica posted first-quarter sales that topped analysts’ estimates, helped by new products like an expanded selection of women’s tops.
Lululemon Sales Beat Estimates as New Products Draw Customers
Lululemon Athletica posted first-quarter sales that topped analysts’ estimates, helped by new products like an expanded selection of women’s tops.
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.