For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.

The underwear start-up was once pegged as Gen-Z’s answer to Victoria’s Secret. But investors, executives and founder Cami Téllez couldn’t agree on whether to prioritise growth or profitability. They ended up with the worst of both worlds.

M&A is gathering pace in Japan’s beauty industry as local conglomerates look to diversify their portfolios beyond Asia and target high-growth categories overseas.

Frasers said on Monday, Shein will acquire the intellectual property and trademarks of Missguided, while Frasers will retain its real estate and employees which have now been integrated into Frasers’ fashion division.

The complex agreement would see the luxury marketplace eventually take control of its top competitor from current owner Richemont.

This week, softening sales growth at the French giant was the latest sign that the post-pandemic luxury boom is over, but chairman Bernard Arnault may be able to play the weak market to his advantage.

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Pinault family holding Artémis is acquiring private equity firm TPG’s stake in the Hollywood talent giant in a deal that values the business at $7 billion.