Hudson’s Bay Retail Chain to Terminate More Than 8,300 Workers by Sunday
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
conglomerates
Latest News & Analysis
Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall
The once-promising Chinese travel retail market is showing little signs of recovery, causing global beauty giants to reevaluate their strategies and reduce promotions.
Drunk Elephant Was Never for Kids
The clean beauty brand has faced significant challenges in the years since it was acquired by Shiseido, but its embrace of young consumers may have been its biggest misstep.
Balenciaga Names Nathalie Raynaud Deputy CEO
The Kering-owned fashion house is promoting its chief product officer as it prepares to open a new chapter under a new designer.
This Week: What’s LVMH’s Take on Tariffs?
The luxury conglomerate’s earnings will provide a window into how the sector’s biggest brands are expecting the rest of 2025 to go.
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Making Sense of This Week’s Big Fashion Bankruptcies
News of Forever 21 and Hudson’s Bay facing liquidation this week rang alarm bells for an industry already facing macroeconomic challenges this year. But their failures could have been avoided.
Louis Vuitton to Launch Makeup Line
The luxury fashion house will release a line of colour cosmetics this autumn, with the renowned British makeup artist Pat McGrath as its creative director.
Can Slouchy Work Bags and a Selfie Mirror Grow Delvaux?
An installation featuring restored works by Saul Steinberg is the 200-year-old Belgian brand’s latest attempt to build present-day relevance after being purchased by Richemont in 2021.
Luxury
Inside Coupang’s Tug of War With Farfetch
A year into its ownership of the embattled luxury e-tailer, the South Korean e-commerce giant is whipping Farfetch into shape, reaching near breakeven in its latest quarter. But company insiders say Coupang has gone from cutting fat to cutting muscle, stripping Farfetch of its ability to compete for the attention and dollars of key ultra-wealthy shoppers who account for 30 percent of its annual sales.
Inside Coupang’s Tug of War With Farfetch
A year into its ownership of the embattled luxury e-tailer, the South Korean e-commerce giant is whipping Farfetch into shape, reaching near breakeven in its latest quarter. But company insiders say Coupang has gone from cutting fat to cutting muscle, stripping Farfetch of its ability to compete for the attention and dollars of key ultra-wealthy shoppers who account for 30 percent of its annual sales.
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The Beauty Slowdown, Explained
The four biggest beauty conglomerates all recently reported disappointing sales, and consumers are tiring even of once white-hot brands like Cerave and Drunk Elephant. A rebound will require agility and adjusted expectations.
Estée Lauder Knows How to Cut Costs. Can It Also Rebuild Growth?
Tuesday’s second-quarter earnings detailed the conglomerate’s plans to streamline the business, with more job cuts and corporate restructuring to come. Getting the company back to growth will mean closing the intention gap.
Estée Lauder Companies' Makeover Begins
In order to reverse its sales decline, the company is reportedly considering selling off poorer-performing, lower-margin brands and cutting other costs. Investors want to see the fat trimmed, and more room created for future growth.
Luxury
The State of Fashion: Luxury
Macroeconomic headwinds, shifting customer preferences and a deteriorating value proposition continue to weigh on the global luxury sector in 2025. Companies need to review their strategic priorities — investing in talent development, product excellence and finding new ways to engage with clients. Download the special Luxury edition of The State of Fashion report by BoF Insights and McKinsey & Company to understand the strategic imperatives for luxury executives in the years ahead.
The State of Fashion: Luxury
Macroeconomic headwinds, shifting customer preferences and a deteriorating value proposition continue to weigh on the global luxury sector in 2025. Companies need to review their strategic priorities — investing in talent development, product excellence and finding new ways to engage with clients. Download the special Luxury edition of The State of Fashion report by BoF Insights and McKinsey & Company to understand the strategic imperatives for luxury executives in the years ahead.
The News in Brief
Crypto-Luxury Brand 9dcc Is Shutting Down
The brand cited headwinds in web3 and softness in the luxury market for its decision in an announcement Tuesday.
Temu-Owner PDD Holdings Misses Quarterly Revenue Estimates
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
Swiss Watch Exports Jump in April Ahead of Threatened US Tariffs
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
Italy’s Fashion Brands Sign Accord to Fight Worker Exploitation
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
EU Warns Shein of Fines in Consumer Protection Probe
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
Trump Extends Deadline for 50% Tariffs on EU Goods to July 9
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
E.l.f. Beauty Announces $1 Price Hike, Citing Inflation and Tariffs
The mass brand will raise prices in August.