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.
Tamara Ralph and Michael Russo
Ralph & Russo Goes Into Administration
The British couture house will undergo a period of restructuring as the economic impact of Covid-19 takes a toll on business.
Announcing Ralph & Russo, Douchebags and Fashionphile
Check out this week’s new partners and openings on BoF Careers, the global marketplace for fashion talent.
La Perla Owner Bets on Ralph & Russo with Minority Stake
The label made famous by Meghan Markle lost £2.5 million ($3.1 million) on £14.3 million of sales in 2017, according to public filings.
Company Snapshot
Theirs is the first British couture label to join the prestigious Chambre Syndicale.
The News in Brief
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.
Swiss Watch Exports Plunge as China and Hong Kong Demand Dries Up
Monthly Swiss watch exports suffered their biggest decline since 2020 as demand for premium and luxury timepieces in key markets including China and Hong Kong plunged.
Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.