LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
Haisam Mohammed, a son of Eritrean refugees, has turned the aromas wafting through the stairwells of Sweden’s high-rises into a perfume business now backed by Frame co-founder Erik Torstensson.
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
H&M Group sank to a loss in the second quarter of 2020 as the pandemic caused sales to plummet 50 percent year-on-year, but it has since recovered faster than expected. The fast fashion giant’s chief executive is focusing on more sustainable business models to drive growth in the coming years.
The retailer aims to cut its store number by a net 250 next year, representing 5 percent of its current network.
The fast fashion retailer, which will publish its full quarterly report on October 1, reported pretax earnings of around $229 million.
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The Swedish retailer has launched an investigation into its chain & Other Stories, which came under fire after a report by CNN revealed several managers used racist language internally to refer to a hat.
H&M first invested in Sellpy in 2015 and now holds a 70 percent stake.
The move comes after the retailer declared its first loss in at least a decade.
The fast fashion retailer saw net sales fall by 50 percent in the three months to May 31, despite an uptick in online sales.
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Despite many of its stores remaining closed, the fast fashion retailer announced 2,500 employees are set to return to its Stockholm headquarters in July.
The fast fashion retailer warned it would make a loss for the first time in decades in its second quarter.
The pandemic has forced H&M to temporarily close most of its stores, flag big layoffs and scrap its annual dividend.
As the global pandemic mounts, the retailer announced it is in talks with thousands of its employees about reducing hours to curb the spread of the virus.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.