The 15.5% of SMCP’s capital that had been improperly transferred to a trust by its Chinese shareholder, who defaulted in 2021, have just been returned to the Luxembourg holding company that held them. Read More
Walmart has expanded its 10% employee discount to nearly all of its grocery items, as the retail giant looks to retain workers, the Wall Street Journal reported on Wednesday. Read More
Tapestry kept up a brisk pace of sales in the April-June quarter, with revenue likely growing 5.5%, thanks to growing demand for its stylish handbags that are more affordable than traditional luxury labels. Read More
Music offers an insightful way to map the fortunes of the luxury industry. It’s a useful complement to more traditional measures of brand buzz, such as Google searches and social media conversations. Read More
Russia’s sanctions-hit diamond producer Alrosa reported a 25% fall in first-half revenue, warning that geopolitics and macroeconomic uncertainties were weighing on demand. Read More
Singapore is set to sell an eye-watering variety of luxury items confiscated from money launderers who were convicted in the country’s biggest laundering case. Read More
De Beers’ joint venture in Angola has discovered a new kimberlite field, the most common source of mined diamonds, it said on Tuesday, its first such discovery in three decades. Read More
FatFace is to shutter all 23 US stores as the Next-owned fashion and lifestyle retailer adopts a digital-only sales approach in North America while moving its growth focus to the UK and new markets. Read More
FSN E-Commerce Ventures, the parent of Indian beauty products retailer Nykaa, posted a quarterly profit on Tuesday that more than doubled, benefiting from new brand tie-ups and steady demand for makeup and skincare. Read More
In the middle of an ongoing cost-of-living crisis combined a heatwave, you’d expect people to be buying plenty of budget products and definitely things like summer sandals and sports shoes, right? Read More
