Google to Invest $350 Million in Walmart-Controlled Flipkart
The funding round was led by Walmart, which last year invested nearly $600 million in the homegrown e-commerce firm that competes with Amazon.com Inc. in India.
TODAY'S MUST READThe BoF Brand Magic Index is packed with insights for luxury managers, plus Imran Amed decodes the success of Miu Miu and examines how to get Gucci back on track.
TODAY'S MUST READThe BoF Brand Magic Index is packed with insights for luxury managers, plus Imran Amed decodes the success of Miu Miu and examines how to get Gucci back on track.
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The News in Brief
Dion Lee Goes Into Voluntary Administration
The move came after the Australian retail chain Cue announced it had withdrawn its investment in the label.
H&M-Backed Textile Recycler Syre Raises $100 Million
The joint venture formed by the fashion giant and green industry investor Vargas in March aims to start building two commercial facilities by 2025.
Germany Backs Ending EU Tax Break That Helps Shein and Temu Keep Prices Low
The import tax exemption, officials argue, allows the companies to undercut rivals and avoid customs inspections of their products.
Ralph Lauren Names Insider Picicci as CFO, Forecasts Dull Annual Revenue
The apparel maker’s shares, which have risen about 16 percent so far this year, were down 4.5 percent in pre-market trade after the company also forecast current-quarter revenue growth below estimates.
Lagardere Moving Closer on Sale of Paris Match Magazine to LVMH
The French media and business conglomerate said the sale of Paris Match, which mixes coverage of current affairs with photos of celebrities and royalty, could be completed by the end of September.
Reliance’s New Venture Tira Bets on AI Tools to Push Into Sizzling Indian Beauty Market
Tira is betting on new technology like in-store vending machines to dispense free samples of skincare products.
VF Corp Misses Quarterly Revenue Estimates, Posts Loss
Shares of the North Face owner, which have declined 34.5 percent so far this year, were down nearly 8 percent in extended trading.
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