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.
funding
China
News Bites | First Look at Givenchy Childrenswear, Flowerbx Funding, The Webster x Lane Crawford
In today's News Bites, a first glimpse of Givenchy childrenswear, Flowerbx closes a £1.5 million seed-plus round and The Webster partners with Lane Crawford.
News Bites | First Look at Givenchy Childrenswear, Flowerbx Funding, The Webster x Lane Crawford
In today's News Bites, a first glimpse of Givenchy childrenswear, Flowerbx closes a £1.5 million seed-plus round and The Webster partners with Lane Crawford.
News & Analysis
Mother of Pearl and Palmer Harding Win the 2017 BFC/Vogue Fashion Fund
The organisation decided to “spread the benefit” of the prize to two labels this year.
Mother of Pearl and Palmer Harding Win the 2017 BFC/Vogue Fashion Fund
The organisation decided to “spread the benefit” of the prize to two labels this year.
News & Analysis
5 Lessons in Building a Fashion Business
Since its inception in 2011, the BFC's Fashion Trust has awarded nearly £1 million to 32 designers. Recipients of the grant tell BoF about the lessons they have learnt.
5 Lessons in Building a Fashion Business
Since its inception in 2011, the BFC's Fashion Trust has awarded nearly £1 million to 32 designers. Recipients of the grant tell BoF about the lessons they have learnt.
News & Analysis
As ‘Re-commerce’ War Rages, Vestiaire Collective Arms Up with $62 Million Raise
Vestiaire Collective will use the funding to fuel expansion into new markets and reinforce customer acquisition amidst competition from The RealReal, Tradesy and others.
As ‘Re-commerce’ War Rages, Vestiaire Collective Arms Up with $62 Million Raise
Vestiaire Collective will use the funding to fuel expansion into new markets and reinforce customer acquisition amidst competition from The RealReal, Tradesy and others.
News & Analysis
Where Have All the Unicorns Gone?
The number of fashion start-ups reaching billion-dollar valuations has dropped off in 2016. BoF examines why fashion 'unicorns' have become an endangered species.
Where Have All the Unicorns Gone?
The number of fashion start-ups reaching billion-dollar valuations has dropped off in 2016. BoF examines why fashion 'unicorns' have become an endangered species.
Technology
Rocket Internet-Backed Global Fashion Group Raises $364 Million
Rocket Internet SE, Germany’s highest-profile startup investor, contributed 68 million euros to a 330-million-euro funding round for its startup Global Fashion Group, completing a deal first announced in April.
Rocket Internet-Backed Global Fashion Group Raises $364 Million
Rocket Internet SE, Germany’s highest-profile startup investor, contributed 68 million euros to a 330-million-euro funding round for its startup Global Fashion Group, completing a deal first announced in April.
News & Analysis
UK Fashion Could Lose Millions in EU Funding
Post-Brexit, UK fashion businesses, universities and organisations like the British Fashion Council could lose access to hundreds of millions of euros in EU funding.
UK Fashion Could Lose Millions in EU Funding
Post-Brexit, UK fashion businesses, universities and organisations like the British Fashion Council could lose access to hundreds of millions of euros in EU funding.
Financial Markets
Alibaba-Backed Paytm Says It Has Enough Funds for Five Years
One97 Communications Ltd., the owner of an Indian online payment processor backed by Alibaba Group Holding Ltd.’s finance arm, said funds at its disposal were enough to last five years, enabling it to build a business model that is “predictable.”
Alibaba-Backed Paytm Says It Has Enough Funds for Five Years
One97 Communications Ltd., the owner of an Indian online payment processor backed by Alibaba Group Holding Ltd.’s finance arm, said funds at its disposal were enough to last five years, enabling it to build a business model that is “predictable.”
News & Analysis
Saverin-Backed Orami Raising More Funds for E-Commerce Deals
Orami, a female-focused Indonesian e-commerce operator, is raising new funds for acquisitions just months after a $15 million financing round backed by Facebook Inc. co-founder Eduardo Saverin.
Saverin-Backed Orami Raising More Funds for E-Commerce Deals
Orami, a female-focused Indonesian e-commerce operator, is raising new funds for acquisitions just months after a $15 million financing round backed by Facebook Inc. co-founder Eduardo Saverin.
Financial Markets
Alibaba Affiliate Ant Financial Closes $4.5Bn Funding Round
Alibaba Group Holding Ltd's affiliate Ant Financial Services Group has closed a $4.5 billion funding round, paving the way for a long-expected IPO.
Alibaba Affiliate Ant Financial Closes $4.5Bn Funding Round
Alibaba Group Holding Ltd's affiliate Ant Financial Services Group has closed a $4.5 billion funding round, paving the way for a long-expected IPO.
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.