Latest Articles in Report

US says Amazon running illegal monopoly in online retail

A top US antitrust regulator sued Amazon on Tuesday, accusing the online retail behemoth of running an illegal monopoly by strong-arming sellers and stifling potential rivals. The highly anticipated lawsuit is another test for the Biden administration as it tries to curb the power of big tech in the face of pushback from US courtrooms. "Our...

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Alibaba plans to list logistics arm in Hong Kong IPO

Chinese e-commerce giant Alibaba said Tuesday it intends to spin off its logistics arm Cainiao through an initial public offering in Hong Kong as the firm undergoes a massive restructuring. After years of turbulence in the Chinese tech sector, Alibaba announced in March it was dividing itself into six entities, with the goal of listing them...

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Worldly, formerly Higg Co, taps new finance chief

Data insights platform Worldly, formerly known as Higg Co, has appointed Francois Thrower as its new chief finance officer (CFO) as the company looks to accelerate its “growth and impact”. Tha San Francisco-based company said Thrower’s “extensive financial expertise and strategic experience are invaluable assets, positioning him to help...

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Shoe Carnival names new chief financial officer

Footwear specialist Shoe Carnival has announced the appointment of Patrick Edwards as the company’s senior vice president, chief financial officer, secretary and treasurer, effective immediately. While Edwards was most recently the retailer’s executive officer, he has also served as its chief accounting officer and secretary since 2021 and had...

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B. Riley increases holding of womenswear label Bebe

Financial services platform B. Riley Financial has snapped up 3.7 million shares of common stock of Bebe Stores, a womenswear label founded by Manny Mashouf. The firm forked out five dollars per share for a total purchase price of 18.5 million dollars from Mashouf himself, bringing its total ownership of the brand to 76 percent. It comes as...

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Coty follows through with dual listing, applies for Euronext Paris

After months of speculation and vague details of planning, beauty giant Coty has officially applied for the listing and trading of its Class A common stock on Euronext Paris. The American cosmetics group, which already trades on the New York Stock Exchange, revealed that it was mulling a dual listing back in May, stating at the time that such a...

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Asos names William Baker as non-exec director

Fast fashion e-tailer Asos has announced the appointment of William Barker as a non-independent non-executive director as it continues to build up its board of directors with seasoned executives. Barker is the founder and chief executive officer, as well as a significant shareholder, of California-based hedge fund manager Camelot Capital...

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Inter Parfums taps new board member as two retire

Inter Parfums has announced the appointment of Gerard Kappauf as its newest board member as Michel Dyens and Patrick Choël retire. It reduces Inter Parfums’ board size to nine members, of which five are independent. Kappauf began his career in fashion working at a Jean Paul Gaultier show. He then went on to provide marketing and acquisition...

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Secret Sales acquires Spanish discount retailer Dreivip

Off-price retail platform Secret Sales has snapped up Spain’s discount retailer Dreivip for an undisclosed sum as part of its newly launched merger and acquisition (M&A) strategy. The “aggressive” scheme has been introduced after Secret Sales began making its entry into new regions, most recently stepping into the Netherlands and Belgium, making...

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Tiffany & Co. names new chief brand creative officer

Luxury jeweller Tiffany & Co. has announced the appointment of Hector Muelas as its new chief brand creative officer, a position he started in September 2023. Muelas joins the retailer from Expedia Group, where he served as SVP global marketing and creative for just over two years, after holding the similar title of global group creative...

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Coty raises FY24 sales outlook on strong demand

Coty has increased its guidance for the full year after seeing “strong momentum” in demand across key markets and categories, particularly in prestige fragrances. The beauty and cosmetics giant now expects FY24 core like-for-like sales growth of between 8 percent and 10 percent, up from its previous guidance of being at the top end of its...

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Modo Group acquires eyewear brand Italia Independent

Modo Group has acquired eyewear label Italia Independent for an undisclosed sum. The group, which produces and distributes the Modo and Eco brands, and which has been in the independent eyewear industry since 1990, said its know-how will be a “key factor” in the new direction of the Italian brand, which was founded by Lapo Elkann. “I have always...