The News In Brief
Saks Finalises Acquisition of Neiman Marcus Group
The $2.7 billion merger counts Amazon, G-III Apparel Group and Authentic Brands Group as investors.
Model Rights Bill Signed into Law in New York
The new law will give models working in the state greater protection from exploitation, harassment and AI.
L’Oréal Acquires South Korea’s Dr.G in Skincare Deal With Migros
French cosmetics giant L’Oréal said on Monday it had agreed to buy Gowoonsesang Cosmetics, which includes South Korean skincare brand Dr.G., from Swiss retailer Migros.
Boohoo Shareholders Vote to Block Mike Ashley From Joining Board
Investors representing 64% of Boohoo’s stock voted against appointing Ashley and Mike Lennon at a special meeting on Friday morning called by Ashley’s Frasers Group.
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LVMH Bought a €50 Million Villa in Cannes for Brand Events
The conglomerate will use the 12-bedroom property to host exclusive shows and events for its companies, sources told Bloomberg.
The Body Shop is Profitable Again, Says CEO
The body care maker reportedly made a $2.5 million profit on $34.5 million in sales in the first three months under its new owners, Aurea Group, which acquired it out of administration in September.
Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery
The company reported fourth-quarter revenue of €455.8 million ($478.27 million), compared with the average analyst estimate of €439.2 million.
Kering Seen Closing Property Deal in Early 2025 to Cut Debt Load
The closing of the deal could come in early 2025, as the company signaled earlier this year.