African Designer Platform The Folklore Raises $3.4 Million
The capital injection will aid the company’s pivot from being an e-commerce site to being a business-to-business venture helping emerging brands enter US retailers.
Margot Robbie
Company Snapshot
Her lead role in the blockbuster “Barbie” movie cemented her status as a pop-culture and style icon.
The News in Brief
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.
Tapestry Merger With Versace Owner Capri Gets EU, Japan Approval
The merger, which would bring top luxury labels such as Tapestry’s Kate Spade, Stuart Weitzman and Capri’s Jimmy Choo and Versace under one roof, still awaits approval from the United States.