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.
Brazil
How Fashion Can Engage With the Global Culture, the Right Way
Creative and commercial energy is increasingly driven by frontier markets in Asia, Africa and Latin America. Global brands must learn how to embrace and amplify local cultures in these markets in an authentic way.
Shein to Invest Nearly $150 Million in Local Production in Brazil
Online fast-fashion retailer Shein said on Thursday it will invest 750 million reais ($148.85 million) in Brazil in the coming years to establish a network with thousands of textile manufacturers in the country.
Beauty Giant Natura Shelves NYSE Move as Turmoil Rattles Markets
Cosmetics maker Natura & Co. shelved a plan to switch its primary stock listing to the US from Brazil, as the war in Ukraine and the prospect of surging rates bring wild swings in global equity markets.
Inside Brazil’s Radical Retail Giant
With annual sales of $7 billion, an aggressive digital strategy and a slew of recent acquisitions, Magazine Luiza is determined to conquer the fashion category.
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Brazilian Fashion Industry Gathers to Plot Post-Pandemic Recovery
The Brazilian Textile and Apparel Industry Association (ABIT) closed its 5th International Congress Friday, with this edition focused on “Transition
Brazilian Mall Giant Iguatemi Names Cristina Betts CEO
Brazilian mall conglomerate Iguatemi Group has appointed Cristina Betts, its vice president of finance, as its new chief executive, effective Jan. 1, 2022.
Global Markets
Retailer Cencosud Brazil Files for IPO, Eyes Expansion
One of the largest retailers in South America, Santiago-based Cencosud, has filed for an initial public offering (IPO) on the Brazilian stock exchange for its Brazilian operations, aiming to raise around 1.5 billion reais ($288 million).
Retailer Cencosud Brazil Files for IPO, Eyes Expansion
One of the largest retailers in South America, Santiago-based Cencosud, has filed for an initial public offering (IPO) on the Brazilian stock exchange for its Brazilian operations, aiming to raise around 1.5 billion reais ($288 million).
Avon, E-Commerce Bring Natura Back to Profit
The Brazilian cosmetics company is on track to meet its 2023 revenue goals as its performance received a boost.
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Online Outlet Privalia Brazil Restarts IPO Plan
After postponing its IPO at the end of April, digital outlet Privalia announced it may resume its plan to go public, this time via a restricted offering on the B3 exchange in São Paulo.
Arezzo & Co Acquires Streetwear Player BAW for $20.5 Million
The Brazilian footwear and accessories conglomerate purchased BAW, a digitally-native streetwear brand, for 105 million Brazilian reais ($20.5 million) last Friday.
Brazilian Online Retail Giant Looks to Scale Livestreaming E-Commerce
Brazil’s B2W Digital is partnering with UK-based video e-commerce specialists, OOOOO, to scale its burgeoning livestream e-commerce business.
Luxury Brands Face Uncertain Future in Latin America
New free trade agreements could help boost the regional luxury market, but will they be enough to shield it from Covid-19 losses or be too controversial to benefit big markets like Brazil and Mexico?
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.