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.
investing
Technology
Bits & Bytes | Amazon Clothes, Apple Watch Shipments, Souq.com Funding
Bits and Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Bits & Bytes | Amazon Clothes, Apple Watch Shipments, Souq.com Funding
Bits and Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Financial Markets
Einhorn Buys Macy’s Stake Saying It Could Be a Takeover Target
Greenlight Capital, the hedge fund firm led by David Einhorn, said it made a new investment in retailer Macy’s Inc. in the fourth quarter, to "unlock the value" of its land and buildings.
Einhorn Buys Macy’s Stake Saying It Could Be a Takeover Target
Greenlight Capital, the hedge fund firm led by David Einhorn, said it made a new investment in retailer Macy’s Inc. in the fourth quarter, to "unlock the value" of its land and buildings.
Financial Markets
Alibaba’s Taobao Signs Up China’s Largest Bad-Loan Manager
Alibaba Group Holding Ltd. has signed up China’s largest bad loans manager to sell troubled assets through its online marketplace as the e-commerce giant seeks to extend its reach beyond retail sales.
Alibaba’s Taobao Signs Up China’s Largest Bad-Loan Manager
Alibaba Group Holding Ltd. has signed up China’s largest bad loans manager to sell troubled assets through its online marketplace as the e-commerce giant seeks to extend its reach beyond retail sales.
Financial Markets
Hawkins and Sawiris Forge Investment Partnership, with Adidas in Sights
Egyptian tycoon Nassef Sawiris has formed a partnership with US investor Mason Hawkins to drive change at companies they invest in — and they have sportswear firm Adidas in their sights.
Hawkins and Sawiris Forge Investment Partnership, with Adidas in Sights
Egyptian tycoon Nassef Sawiris has formed a partnership with US investor Mason Hawkins to drive change at companies they invest in — and they have sportswear firm Adidas in their sights.
Financial Markets
Is There Still Hope for Fashion Crowdfunding?
With new equity crowdfunding regulations now in place, some fashion labels and platforms see new potential in the model.
Is There Still Hope for Fashion Crowdfunding?
With new equity crowdfunding regulations now in place, some fashion labels and platforms see new potential in the model.
Financial Markets
Amazon Challenger Jet.com Announces $350 Million Investment
E-commerce startup Jet.com announced a $350 million cash infusion led by Fidelity Investments, providing money to help the company attract customers during its first holiday shopping season.
Amazon Challenger Jet.com Announces $350 Million Investment
E-commerce startup Jet.com announced a $350 million cash infusion led by Fidelity Investments, providing money to help the company attract customers during its first holiday shopping season.
Financial Markets
Urban Outfitters Drops After Announcing Plan to Buy Pizza Chain
Stock fell as much as 10 percent on Monday after Urban Outfitters announced the acquisition of Philadelphia’s Vetri Family group of restaurants.
Urban Outfitters Drops After Announcing Plan to Buy Pizza Chain
Stock fell as much as 10 percent on Monday after Urban Outfitters announced the acquisition of Philadelphia’s Vetri Family group of restaurants.
Financial Markets
Alibaba to Invest in US Startups as Part of Expansion Plan
HANGZHOU, China — Alibaba Group Holding Ltd. will invest in startups in the U.S. and help bring them to China as part of its expansion plan, said
Alibaba to Invest in US Startups as Part of Expansion Plan
HANGZHOU, China — Alibaba Group Holding Ltd. will invest in startups in the U.S. and help bring them to China as part of its expansion plan, said
Financial Markets
Chinese E-Commerce Stocks Rally in US After Alibaba Earnings
Chinese e-commerce stocks got a boost from Alibaba Group Holding Ltd.’s better-than-forecast earnings as investors bet the country’s economic slowdown isn’t hurting online consumer spending.
Chinese E-Commerce Stocks Rally in US After Alibaba Earnings
Chinese e-commerce stocks got a boost from Alibaba Group Holding Ltd.’s better-than-forecast earnings as investors bet the country’s economic slowdown isn’t hurting online consumer spending.
Financial Markets
Why Isn’t There an Italian LVMH?
As LVMH, Richemont and Kering enter a period of consolidation, there is no Italian conglomerate to take them on in the fight for ownership of Italy’s brands. Why?
Why Isn’t There an Italian LVMH?
As LVMH, Richemont and Kering enter a period of consolidation, there is no Italian conglomerate to take them on in the fight for ownership of Italy’s brands. Why?
Financial Markets
Can This Little Label Ever Play in Lululemon's League?
The latest indie brand to attract investor attention is Outdoor Voices, which announced today that it’s raising $7 million in venture funding in a round led by General Catalyst.
Can This Little Label Ever Play in Lululemon's League?
The latest indie brand to attract investor attention is Outdoor Voices, which announced today that it’s raising $7 million in venture funding in a round led by General Catalyst.
Beauty
Makeup Startup Ipsy Said to Be Valued at $500 Million
Ipsy, a cosmetics-subscription service with $130 million in annual sales, raised $100 million in a second round of funding led by TPG and Sherpa Ventures.
Makeup Startup Ipsy Said to Be Valued at $500 Million
Ipsy, a cosmetics-subscription service with $130 million in annual sales, raised $100 million in a second round of funding led by TPG and Sherpa Ventures.
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.