Sabato De Sarno, newly appointed by Kering to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say.

Apax Partners, the private equity firm which acquired the luxury retailer in 2017, has agreed to inject £60 million ($74.2 million) into the business, a spokesperson for the company confirmed Monday.

Chinese online retailer JD.com Inc. is closing its Indonesia and Thailand e-commerce sites as the company shifts its overseas strategy toward supply-chain and logistics services.

Japanese beauty group Shiseido Co. is also studying a potential bid for an interest in Aesop, the people said, asking not to be identified discussing confidential information.

A co-branded sneaker is apparently in the works.

Operating income dropped 87 percent to 821 billion kronor ($80 million) in the three months through November, H&M said Friday, far off analysts’ estimates. The stock fell as much as 7.9 percent.

The fashion retailer has earlier forecast an adjusted profit before tax of between £10 million and £20 million ($12.37 million to $24.74 million) for the year.

The fashion resale platform has named John Koryl as chief executive and a member of its board of directors.