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.
tax
Financial Markets
N Brown Sees Higher Tax on Marketing Costs
The plus sized fashion retailer said tax on marketing costs would rise between £6 million and £9 million annually as a result of a long-running dispute with the British government over tax recovery.
N Brown Sees Higher Tax on Marketing Costs
The plus sized fashion retailer said tax on marketing costs would rise between £6 million and £9 million annually as a result of a long-running dispute with the British government over tax recovery.
Beauty
Walmart Asks Beauty Suppliers to Look Beyond China for Sourcing
To get ahead of tariffs, the supermarket chain asked suppliers if they have facilities outside of China, and if not, whether they would consider investing in some to broaden their sourcing ability.
Walmart Asks Beauty Suppliers to Look Beyond China for Sourcing
To get ahead of tariffs, the supermarket chain asked suppliers if they have facilities outside of China, and if not, whether they would consider investing in some to broaden their sourcing ability.
Financial Markets
Handbags, Apparel Hit as Trump Tariffs Target Consumers
The new list of products subject to duties has been expanded to target categories such as sporting goods and apparel items.
Handbags, Apparel Hit as Trump Tariffs Target Consumers
The new list of products subject to duties has been expanded to target categories such as sporting goods and apparel items.
Financial Markets
Trump Spares Made-in-USA Apparel as Most Machinery Tariff-Free
The exclusion of most apparel equipment from the new tariffs has allayed fears that manufacturers would push higher costs on to consumers, but the prospect of retaliation from China is a worrying threat.
Trump Spares Made-in-USA Apparel as Most Machinery Tariff-Free
The exclusion of most apparel equipment from the new tariffs has allayed fears that manufacturers would push higher costs on to consumers, but the prospect of retaliation from China is a worrying threat.
Sustainability
Social Goods | Fashion Among Worst Pay Gap Offenders, US Tariffs on Developing Countries
This week, companies like Condé Nast and Victoria's Secret have the biggest gender pay gaps in the UK, while the US imposes its highest tariffs on poor countries.
Social Goods | Fashion Among Worst Pay Gap Offenders, US Tariffs on Developing Countries
This week, companies like Condé Nast and Victoria's Secret have the biggest gender pay gaps in the UK, while the US imposes its highest tariffs on poor countries.
Financial Markets
What Trump’s Trade War Means for Fashion
As fears of a trade war begin to ebb, the tension felt by supply chain leaders appears to be lifting. But given president Trump’s characteristic unpredictability, the fashion industry is not out of the woods yet.
What Trump’s Trade War Means for Fashion
As fears of a trade war begin to ebb, the tension felt by supply chain leaders appears to be lifting. But given president Trump’s characteristic unpredictability, the fashion industry is not out of the woods yet.
Financial Markets
Kering Refutes Tax Evasion Claims
The French luxury-goods group has responded to reports that it used a Swiss-based scheme to evade taxes on earnings from brands like Gucci and Saint Laurent.
Kering Refutes Tax Evasion Claims
The French luxury-goods group has responded to reports that it used a Swiss-based scheme to evade taxes on earnings from brands like Gucci and Saint Laurent.
Financial Markets
EU Proposes Retaliatory Tariffs Against US Clothing and Cosmetics
The European Union is preparing punitive tariffs on iconic US brands, raising political pressure on President Donald Trump to ditch his plans for taxing steel and aluminium imports.
EU Proposes Retaliatory Tariffs Against US Clothing and Cosmetics
The European Union is preparing punitive tariffs on iconic US brands, raising political pressure on President Donald Trump to ditch his plans for taxing steel and aluminium imports.
Luxury
Trump Tax Reform Won’t Boost Luxury Brands
US president Trump’s tax reforms have been widely portrayed as favouring the wealthy, in which case Europe’s luxury giants should benefit. Not so, argues Luca Solca.
Trump Tax Reform Won’t Boost Luxury Brands
US president Trump’s tax reforms have been widely portrayed as favouring the wealthy, in which case Europe’s luxury giants should benefit. Not so, argues Luca Solca.
Financial Markets
U.S. Top Court to Decide If Online Retailers Must Collect State Sales Tax
South Dakota wants to overturn a 1992 Supreme Court ruling that companies with no physical presence in a state are not required to collect a state sales tax on purchases.
U.S. Top Court to Decide If Online Retailers Must Collect State Sales Tax
South Dakota wants to overturn a 1992 Supreme Court ruling that companies with no physical presence in a state are not required to collect a state sales tax on purchases.
Financial Markets
Amazon to Pay €100 Million to Settle Italy Tax Dispute
The e-commerce giant has faced a crackdown by countries, especially in Europe, trying to increase revenues from major corporations and close loopholes.
Amazon to Pay €100 Million to Settle Italy Tax Dispute
The e-commerce giant has faced a crackdown by countries, especially in Europe, trying to increase revenues from major corporations and close loopholes.
Financial Markets
Social Goods | Bruce Weber Accused of Sexual Misconduct, Police Raid Gucci Offices
This week, photographer Bruce Weber is sued by a male model for sexual harassment, while Gucci offices were raided over tax evasion.
Social Goods | Bruce Weber Accused of Sexual Misconduct, Police Raid Gucci Offices
This week, photographer Bruce Weber is sued by a male model for sexual harassment, while Gucci offices were raided over tax evasion.
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.