The Wealthy are Less Willing to Spend on Sustainable Products
Millennial and Gen-Z respondents were among the most likely to pay a premium for environmental-friendly practices.
Aya Kanai
The News in Brief
Express Files for US Bankruptcy Protection, to Close Over 100 Stores
Fashion retailer Express Inc has filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday.
Nike Says Job Cuts at Oregon Headquarters to Total More Than 700
Nike Inc. will have eliminated about 740 jobs at its headquarters by late June as part of its multiyear cost-cutting plan.
P&G Lifts Annual Profit Forecast on Strong Us Consumer Demand, Easing Costs
Procter & Gamble raised its annual profit forecast on lower commodity costs and as consumers, particularly in the United States and Europe, kept buying its pricey Tide detergent and Dawn dish soap.
Frédéric Malle Steps Down From Namesake Brand
Frédéric Malle announced on Apr. 18 that he will be leaving his brand Editions de Parfums Frédéric Malle at the end of June.
With Succession in Focus, LVMH Adds Alexandre and Frédéric Arnault to Board
The two brothers join older siblings Antoine and Delphine, meaning that 4 out of Arnault’s 5 heirs now serve on the board. Bernard Arnault, age 75, has placed his controlling interest in LVMH in a stock-share partnership aimed at perpetuating family control.
Arnault Says He Hopes Tensions With China on Luxury Quiet Down
Billionaire Bernard Arnault said he hopes a planned visit to France next month by China’s Xi Jinping will help smooth trade relations between Paris and Beijing.
Vita Liberata Bought Back By Founder
Alyson Hogg, who founded the luxury tanning brand in 2003, has reacquired it from Crown Laboratories.