Victoria’s Secret Jumps as Sales Decline Moderates
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
The underwear start-up was once pegged as Gen-Z’s answer to Victoria’s Secret. But investors, executives and founder Cami Téllez couldn’t agree on whether to prioritise growth or profitability. They ended up with the worst of both worlds.
M&A is gathering pace in Japan’s beauty industry as local conglomerates look to diversify their portfolios beyond Asia and target high-growth categories overseas.
Frasers said on Monday, Shein will acquire the intellectual property and trademarks of Missguided, while Frasers will retain its real estate and employees which have now been integrated into Frasers’ fashion division.
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The complex agreement would see the luxury marketplace eventually take control of its top competitor from current owner Richemont.
This week, softening sales growth at the French giant was the latest sign that the post-pandemic luxury boom is over, but chairman Bernard Arnault may be able to play the weak market to his advantage.
Join us for a BoF Professional Masterclass that explores the topic in our Case Study, “Inside Beauty’s Biggest Disruptor.”
Pinault family holding Artémis is acquiring private equity firm TPG’s stake in the Hollywood talent giant in a deal that values the business at $7 billion.
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Pinault sees CAA as a way to invest in the value of celebrities and may be able to use some of the Hollywood talent giant’s famous faces to bolster luxury group Kering.
The purchase of the high-growth indie label marks the company’s first M&A deal since 2020.
The value of a newly acquired brand can plummet if the people who made it a creative and commercial force rush for the exits as soon as the deal closes.
The Gulf sovereign wealth fund will acquire a 1 percent stake in Mukesh Ambani’s conglomerate, nearly doubling its valuation to $100 billion from its last funding round in 2020.
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
The American apparel chain has returned to the Manhattan retail neighbourhood for the first time since 2017.
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this autumn.
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.
The company’s main growth driver was its continued store openings, with eight new locations during the quarter and a total of 40 anticipated for 2024.
New analysis shows that 162,000 tourists from outside the European Union sought refunds on VAT — a sales tax — exclusively in Britain in 2019. One fifth of those tourists are now claiming rebates in other parts of the EU, where the tax break still applies.