Farfetch Is Officially Exiting Beauty

17 Aug

Farfetch Inc. is cutting back — and so are its stockholders. Shares of the posh e-commerce platform plummeted 35.3 percent to $3.08 in afterhours trading after the corporate confirmed it’s exiting the wonder category, turned in a weak second quarter and cut its outlook for the yr. The posh fashion platform made its move into beauty just last yr, acquiring Violet Grey and tapping founder Cassandra Grey as an advisor. The deal was followed by a broader rollout of beauty in April 2022, when greater than 100 prestige brands launched on the marketplace. Given Farfetch’s deep relationships with most of the primary luxury brands — and the platform’s ambitions to be a one-stop luxe shop — the corporate saw potential to log right into...

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4 May

J&J’s Consumer Health Business Officially Goes Public – WWD

by Beautifaire101

Beauty, Featured

Kenvue Inc., the patron health subsidiary of Johnson & Johnson that encompasses Neutrogena, Aveeno and Tylenol brands, launched its initial public offering Thursday. Shares began trading on the Recent York Stock Exchange under the symbol KVUE at $22 per share, valuing the corporate at roughly $42 billion, and poising it to boost about $3.8 billion. At market close, shares were trading at $26.46. J&J still holds 90.9 percent of outstanding shares of the business. J&J’s total consumer health business generated $15 billion in 2022, a 2.7 percent increase from the prior yr. It also announced the appointment of its designate chief executive officer, Thibaut Mongon, and its chief financial officer, Paul Ruh, in May of last yr. “Helping consumers realize the extraordinary power of...

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28 Apr

The Karl Lagerfeld Hotel in Macao Officially Opens in June

by Beauty Tips

Fashion, Featured

The late Karl Lagerfeld’s most ambitious hospitality project, a lavish 271-room luxury hotel in Macao, will open officially in June with a multiday celebration. The project was initially unveiled in 2014, but its opening was delayed by the coronavirus pandemic. It comes onstream as affluent Chinese resume traveling following the lifting of the country’s zero-COVID-19 policy — and amid heightened interest in all things Lagerfeld, fanned by the upcoming opening of the Costume Institute’s spring fashion exhibition dedicated to him on the Metropolitan Museum of Art in Latest York. The Karl Lagerfeld is a component of the Grand Lisboa Palace luxury development spearheaded by Sociedade de Jogos de Macau, or SJM, the gaming concessionaire that also created Palazzo Versace Macau for its resort...

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26 Mar

Hudson’s Bay Company Officially Goes Fur-free

by Beauty Tips

Fashion, Featured

Hudson’s Bay, a retailer with deep roots in fur, has stopped selling animal fur products. The Toronto-based Hudson’s Bay Company’s entire portfolio is now fur-free. Saks Fifth Avenue and Saks Off 5th committed to accomplish that in 2021. People for the Ethical Treatment of Animals touted the news Thursday, claiming that emails from 100,000 PETA supporters to Hudson’s Bay businesses and anti-fur protests outside of stores helped make the change. In October 2020, there have been demonstrations outside of nine Hudson’s Bay and Saks Fifth Avenue stores. Executives at Hudson’s Bay were unavailable to comment Thursday concerning the company’s fur-free decision, in accordance with an organization spokeswoman. The one statement that might be made was issued by the retailer, “Hudson’s Bay doesn't sell...

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