Canada’s Competition Bureau Opens Greenwashing Investigation of Lululemon
A complaint by climate-advocacy group Stand.earth prompted the inquiry.
Jean-Francois Palus
With Gucci Stalled, Kering Enters Deal for Valentino
The French group has the option to acquire 100 percent of the Italian label within five years. Kering chairman François-Henri Pinault described the deal as a ‘first step’ in a broader partnership with Qatari investment fund Mayhoola.
Luxury
As Gucci’s CEO Steps Down, Saint Laurent’s Chief Steps Up
Marco Bizzarri led the Italian luxury giant through a historic expansion before the business struggled to bounce back from the pandemic. Parent company Kering announced the move as part of a broader executive shakeup after which Saint Laurent CEO Francesca Bellettini will oversee all the group’s brands.
As Gucci’s CEO Steps Down, Saint Laurent’s Chief Steps Up
Marco Bizzarri led the Italian luxury giant through a historic expansion before the business struggled to bounce back from the pandemic. Parent company Kering announced the move as part of a broader executive shakeup after which Saint Laurent CEO Francesca Bellettini will oversee all the group’s brands.
Kering Creates New Beauty Division
Former Estée Lauder executive Raffaella Cornaggia has been named CEO of the unit, which will develop beauty for the French group’s brands, including Bottega Veneta, Balenciaga and Alexander McQueen.
The News in Brief
Condé Nast and Union Strike Deal, Avoiding Met Gala Disruption
The new contract includes $3.6 million in wage increases, and eight weeks of severance for laid-off employees, according to a statement from the NewsGuild of New York, the union’s organising body.
Shiseido Taps Six Athletes for Sun Protection Campaign
The Japanese skincare company has recruited the likes of softball player AJ Andrews and Anna Leigh Waters to reach new audiences and grow awareness.
Rabanne Owner Puig Rises in Spanish Debut After €2.6 Billion IPO
Spanish beauty and fragrance group Puig Brands SA shares rose after the company and its founding family raised €2.6 billion ($2.8 billion) in an initial public offering, in Europe’s biggest listing so far this year.
Dao-Yi Chow Appointed Creative Director of New Era
The former Public School and DKNY designer will launch the cap brand’s first apparel line.
Buyout Firm Sycamore Vies to Take Nordstrom Private, Sources Say
Nordstrom shares rose 6 percent on the news, giving the company a market value of about $3.3 billion.
Olaplex Sales Continued Slide in First Quarter
A double-digit decline was attributed to the brand’s distribution changes.
Celebrity Makeup Artist Quinn Murphy Launches Beauty Line
Spatch will debut on May 4 with a nine-piece collection of skin-perfecting products designed for professional and consumer use.