MILAN, Italy — Italian fashion and leather brand Gucci will take direct control of its shops in Moscow and open two new points of sale in the Russian capital, the company said on Monday.
SOLOMEO, Italy — Brunello Cucinelli said he’s optimistic about his namesake cashmere clothier’s prospects amid strong demand for the most exclusive luxury goods.
PARIS, France — L’Oréal SA, the world’s largest cosmetics maker, reported a 2.2 percent drop in first-quarter revenue as unfavorable currency fluctuations and slowing demand in North America weighed on growth.
BEIJING, China — Jumei International Holding Ltd, backed by venture-capital firm Sequoia Capital, filed with U.S. regulators on Friday to raise up to $400 million in an initial public offering of American Depositary Shares.
LONDON, United Kingdom — Tesco Plc, the U.K.’s largest supermarket operator, is returning to the U.S. with its standalone clothing store F&F, a year after selling its grocery business in the world’s biggest economy.
BoF compiles the most important professional moves of the week.
CAPE TOWN, South Africa — Woolworths Holdings Ltd. of South Africa is using a $2 billion takeover of Australia’s David Jones Ltd. to challenge fashion retailers Inditex SA, Hennes & Mauritz AB and Fast Retailing Co. in the southern hemisphere.
NEW YORK, United States — Aldo Bensadoun, who founded the Aldo Group in 1972 selling wooden clogs in Canada, is the sole owner of the Aldo Group’s two shareholding entities. The retailer now has a value of $1.7 billion, according to data compiled by Bloomberg, making Aldo’s executive chairman, Bensadoun, a billionaire.