Positive news first. Total UK retail sales increased by 2.5% in July (06 July-2 August), against growth of just 0.5% seen in July 2024. That’s according to the monthly KPMG/BRC Sales Monitor. Read More
Gildan Activewear Inc. agreed to buy US underwear maker Hanesbrands Inc. for about 2.2 billion dollars in cash and stock. Read More
At least 146 people have been in touch with UK police alleging crimes by former Harrods owner Mohamed Al-Fayed since authorities opened a new probe last year, the Metropolitan Police confirmed on Wednesday. Read More
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
