Harvey Nichols Appoints New CEO
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
private-equity
DTC Brands See a Long-Delayed Path to Exit in 2024
While the DTC landscape’s turbulence isn’t completely over for brands, the prospect of a better economy in 2024 is encouraging profitable brands that shied away from M&A last year to start preparing for an exit.
News & Analysis
The State of Fashion 2024: Riding Out the Storm
The eighth annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals an industry navigating deep uncertainty. Download the full report to understand the 10 themes that will define the industry and the opportunities for growth in the year ahead.
The State of Fashion 2024: Riding Out the Storm
The eighth annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals an industry navigating deep uncertainty. Download the full report to understand the 10 themes that will define the industry and the opportunities for growth in the year ahead.
Macy’s Adds Real Estate CEO to Board to Help With Property Plans
Macy’s Inc. named Four Corners Property Trust Inc. chief executive officer Bill Lenehan to its board, enlisting a real estate expert to help the chain figure out what to do with its properties.
Aeropostale Will Explore Strategic Alternatives as Losses Deepen
Aeropostale Inc., the teen-apparel chain working to turn around its falling sales, plans to review strategic alternatives for the business after reporting a wider fourth-quarter loss.
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Einhorn Buys Macy’s Stake Saying It Could Be a Takeover Target
Greenlight Capital, the hedge fund firm led by David Einhorn, said it made a new investment in retailer Macy’s Inc. in the fourth quarter, to "unlock the value" of its land and buildings.
American Apparel Gets $300 Million Bid From Team Backing Charney
American Apparel Inc. received a $300 million takeover bid from an investor group that would bring back controversial founder Dov Charney to the bankrupt clothing chain.
LVMH to Combine Private Equity Unit L Capital With Catterton
LVMH Moet Hennessy Louis Vuitton SE is combining its private equity and real estate investment units with consumer-focused private equity firm Catterton.
Apax Partners Said Planning to Sell Hilfiger China Stake to PVH
Apax Partners, one of Europe’s largest private equity firms, plans to sell its stake in Tommy Hilfiger’s China operations to joint-venture partner PVH Corp., people with knowledge of the matter said.
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Avon Shares Rise on Report That Makeup Company Will Sell Stake
Avon Products Inc. shares rose on a report that the cosmetics company is in talks to sell a stake to private-equity firms.
The Deal-Making Women Driving Private Equity in Fashion
TSG Consumer Partners has made its name by successfully investing in consumer brands, an area in which women — who control 80 percent of household purchases — are the ultimate deciders.
EBay Nearing Deal to Sell Enterprise Unit for about $900 Million
E-commerce company eBay Inc is nearing a deal to sell its enterprise business to a consortium led by private equity firm Permira for about $900 million, according to sources familiar with the matter.
Thomas H. Lee in the Lead to Buy eBay's Enterprise Unit
Private equity firm Thomas H. Lee Partners LP is in advanced talks to acquire the enterprise business of eBay Inc for close to $1 billion, according to people familiar with the matter.
The News in Brief
Emerging Designer Platform The Folklore Raises $3.4 Million
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
Adidas Is Seeing Hot Demand for Sambas and Yeezys
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.
Sephora, Perfumes and Cosmetics Drive LVMH Sales Growth
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.
Dr Martens Shares Plunge as Tough Outlook Sets Challenge for New CEO
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.
Procter & Gamble Price Hikes Thin Shoppers’ Wallets
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.
Traders Fear Antitrust Risk in $8.5 Billion Deal Between Coach, Michael Kors Owners
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.
US Retail Sales Top Forecasts as Consumers Keep Fuelling Growth
The value of retail purchases, unadjusted for inflation, increased 0.7 percent from February, Commerce Department data showed Monday.