African Designer Platform The Folklore Raises $3.4 Million
The capital injection will aid the company’s pivot from being an e-commerce site to being a business-to-business venture helping emerging brands enter US retailers.
At London Fashion Week, some designers seemed content with their outsider status.
The buzzy designer is gearing up to launch menswear, his first standalone show in Shanghai and a savvy new partnership with China's largest retailer.
On the first day of London Fashion Week, emerging labels Kiko Kostadinov, Xu Zhi and Matty Bovan pushed boundaries while embracing newfound commerciality.
Buoyed by fresh talent, Shanghai’s fashion week is powering past regional rivals in Seoul and Tokyo, and ready to stand up to international scrutiny, reports Susanna Lau.
The capital injection will aid the company’s pivot from being an e-commerce site to being a business-to-business venture helping emerging brands enter US retailers.
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.
The company, which named chief brand officer Ije Nwokorie as its next CEO, said it was anticipating a double-digit percentage decline in US wholesale revenues, which would dent overall profits.
Rising prices of personal care products could quash Americans’ habit of buying big-brand-name items for their household pantries, posing a threat to Procter & Gamble, one of the world’s biggest makers of packaged goods.
The merger arbitrage investor community turned increasingly bearish on the deal last week, as they interpreted some comments from FTC officials at a conference as negative for the deal.
The value of retail purchases, unadjusted for inflation, increased 0.7 percent from February, Commerce Department data showed Monday.
The merger, which would bring top luxury labels such as Tapestry’s Kate Spade, Stuart Weitzman and Capri’s Jimmy Choo and Versace under one roof, still awaits approval from the United States.