Converse Cuts Jobs as Part of Parent Nike’s Cost-Savings Plan
Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.
According to an email viewed by The Business of Beauty, the company will be on hiatus while it establishes a sustainable path to return as a new company.
Puig and Space NK are cashing in on their ability to tap the growth of hot new products, while L’Occitane, Olaplex and The Estée Lauder Companies are discovering how quickly the shine can come off even the biggest brands.
Going public is usually a pivotal moment in a company’s history, cementing its heavyweight status and setting it up for expansion. In L’Occitane’s case, delisting might be a bigger conduit for growth.
How not to look tired? Make money.
ADVERTISEMENT
Once thought of as long-term disruptors who would change the way we shop forever, multi-brand online retailers that sell cosmetics, skincare, fragrance and more are facing multiple headwinds.
Beauty labels hope to court the concert set for both brand awareness and trendsetting opportunities.
Landing a retail partnership is often seen as a major milestone for beauty founders — but it brings a bevy of new challenges, from the logistical complexities to setting a marketing budget. Black entrepreneurs, who typically have far less capital to work with, often face tough choices.
Landing a retail partnership is often seen as a major milestone for beauty founders — but it brings a bevy of new challenges, from the logistical complexities to setting a marketing budget. Black entrepreneurs, who typically have far less capital to work with, often face tough choices.
Outgoing group CEO André Hoffmann is taking a majority stake in the brand, while Grown Alchemist CEO Anna Teal will have minority ownership.
ADVERTISEMENT
The US mega-chain is continuing to build out its assortment of prestige beauty brands and services.
The company behind Naturium’s recent sale adds the body care brand to its portfolio.
The colour cosmetics line is one of the most successful to come out of the celebrity beauty boom. An exit would likely touch off a bidding war, The Business of Beauty has learned.
Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.
During her tenure, Drucker Mann was instrumental in ushering the business into the digital age, said Roger Lynch, Condé Nast’s chief executive.
The miner set out its plans for a potential break-up via a demerger or sale of some of its assets, as it fights off a $43 billion takeover bid from BHP Group.
The company, whose stock soared to a record during the pandemic, has languished as faster inflation and shoppers returning to stores pummelled sales in 2022 and 2023.
Fast-growing DTC sales helped the brand beat Wall Street expectations in the quarter ending March 31.
The troubled British brand’s fiscal fourth quarter will be its worst of the year, according to analyst estimates.
A sale would undo a blockbuster trans-Atlantic merger that took place in stages beginning more than a decade ago.
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.