Saks Finalises Acquisition of Neiman Marcus Group
The $2.7 billion merger counts Amazon, G-III Apparel Group and Authentic Brands Group as investors.
Miami, United States
Why Fashion Needs the Art World More Than Ever
Art Basel Miami Beach has become a cultural tentpole that attracts America’s wealthiest and an evolving art customer base that may prove key in reversing the luxury downturn.
Saks Faces Eviction in Miami Over $1.9 Million in Unpaid Rent
The department store owner told its landlord this month that it couldn’t make lease payments due to the effects of the Covid-19 pandemic.
The Art Basel Crowd Discovers Miami's New Neighborhood
Allapattah, near the Miami River, saw flashy events during the fair and is the home of two vast, new arts institutions. Both were built by real estate investors.
Nivea Owner Buys Coppertone Sun Care for $550 Million
Beiersdorf has agreed to buy Bayer's Coppertone brand of sun-care products, bolstering its line of skin creams that already includes the Nivea brand.
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Perry Ellis Ends Deal Talks With Randa
Perry Ellis said the decision was made after a major licensor refused to consent to Randa's acquisition of the company.
Perry Ellis Receives Revised Buyout Offer from Randa
A special committee formed by Perry Ellis to evaluate the proposals said it would look into the offer, open talks with Randa and grant it due diligence access.
Randa Remains Committed to Buying Perry Ellis Despite Rejection
The men's accessories maker offered to buy Perry Ellis for $28 per share, 50 cents higher than the offer from Perry Ellis founder George Feldenkreis, which the company agreed to in June.
Perry Ellis Advises Shareholders to Vote for Lower Buyout Offer From Founder
The company was put at the centre of an unexpected bidding war on Monday after Randa Accessories made a $444 million offer, higher than the $437 million offer from founder George Feldenkreis.
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Randa Accessories Makes Offer to Buy Perry Ellis
Randa's $28-per-share offer is 50 cents higher than a competing offer from the apparel brand's founder George Feldenkreis, and could derail Feldenkreis' deal to take the company private.
Perry Ellis to Be Taken Private by Founder in Deal With Fortress
Founder George Feldenkreis had said that going private would let the company take a long-term view to confront challenges facing the clothing industry.
Why American Express Is Evolving its Fashion Strategy
On the back of events with Drake, Virgil Abloh, Opening Ceremony and Made LA, American Express’s Janey Whiteside tells BoF how fashion’s rising cultural significance with consumers is informing its collaboration strategy.
Miuccia Prada’s ‘Blueprint for the Future’
Prada’s co-chief executive officer and lead creative director speaks to Tim Blanks as the Italian fashion house prepares to launch a major new store in Miami, set to serve as a template for the future.
The News in Brief
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.
Walmart Says to Miss Climate Targets as Green Challenges Mount
Previous pledges to reduce operational greenhouse gas emissions by 65% by 2030 and 35% by 2025 are probably not achievable, and the company will consider reviewing its climate targets next year.
Lilly’s US Weight-Loss Drug Shortage Ends, Curtailing Copycats
Sales of cheaper compounded versions must stop within 90 days. Novo’s rival shots, Ozempic and Wegovy, remain in short supply.
Prada Group and EssilorLuxottica Renew Ten-Year Eyewear License
Building on an existing twenty-year partnership, Prada Group and the Franco-Italian eyewear conglomerate EssilorLuxottica have renewed their licensing agreement for ten years.
Sofie Pavitt Face Gets Picked Up By Sephora
The “acne whisperer” for A-list Gen Z celebrities inks her biggest retail partnership yet.