Condé Nast Union Threatens Strike Ahead of Met Gala
The union delivered the announcement through a video at a bargaining session today, promising “a week of union actions” in the statement.
Renata Litvinova
Company Snapshot
The filmmaker turned actress casts a unique influence over the Russian fashion industry and is close with Vetements and Balenciaga creative director Demna Gvasalia and super-stylist Lotta Volkova.
The News in Brief
L’Occitane Announces Privatisation Offer
The transaction, which includes funding from Blackstone and Goldman Sachs, values the company at $6.4 billion.
Vinted Moves Into Profit After 61% Sales Rise
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
Spain’s Puig Sets IPO Price Guidance at Top of Range
The Barcelona-based firm set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of €13.9 billion ($14.9 billion).
L’Occitane’s Billionaire Owner Close to Possible $7 Billion Buyout Bid
Chairman Reinold Geiger’s investment holding company, L’Occitane Groupe SA, is considering an offer for the Hong-Kong listed firm’s shares he does not already own, at HK$33 to HK$34 per share, the report said, citing people familiar with the matter.
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.
Zara Re-Enters Venezuelan Market
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
EU Hits Fast-Fashion Giant Shein With New Digital Rules
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.