Fashion World News

This week, Kering’s beauty strategy came into focus when the world’s second largest luxury fashion group announced that it is acquiring the niche fragrance brand Creed at a price close to $3 billion. from Business of Fashion https://ift.tt/ZpOrHS7

The move comes as Karla Otto-owner The Independents, which acquired Bureau Betak in 2021, raises $400 million in funding to fuel ambitions to double in size by 2025. from Business of Fashion https://ift.tt/1oUJE6B

Nike Inc. reported sales that outpaced Wall Street’s expectations while profit fell just short of estimates as the company works to sell off its high stockpiles of merchandise. from Business of Fashion https://ift.tt/Y5Ug2s4

Shein, the Chinese online fashion retailer worth more than $60 billion that is under scrutiny from US lawmakers over its labour practices, has registered with regulators for an initial public offering in New York, people familiar with the matter said. from Business of Fashion https://ift.tt/gABWxN6

Hennes & Mauritz AB shares rallied after the Swedish fast-fashion retailer made progress in reducing a longstanding inventory buildup, leading to greater optimism that profitability will improve. from Business of Fashion https://ift.tt/wcUteTb

The US antitrust regulator is planning to file a suit targeting Amazon’s core online marketplace in the coming weeks, Bloomberg News reported on Thursday, citing documents and people familiar with the matter. from Business of Fashion https://ift.tt/V0JsUrK

This week, TikTok couldn’t get enough of new products from Rare Beauty and Rhode, E.l.f.’s collaboration with influencer Mikayla Nogueira and the return of “baking.” from Business of Fashion https://ift.tt/dNqHk6Y