This September, an intimate roundtable co-hosted by BoF and TikTok brought together top executives from leading fashion brands, including LVMH, Calvin Klein, Tiffany & Co., and E.l.f. Beauty, to explore strategic approaches for succeeding on TikTok. As brands increasingly recognize the significance of engaging with a youthful, highly interactive audience, understanding TikTok’s unique dynamics is […]
In a significant move towards advancing smart eyewear technology, EssilorLuxottica has announced the extension of its partnership with Meta Platforms. The two companies have agreed to a new long-term contract that will guide their collaborative efforts into the next decade. This partnership builds on a relationship that started in 2019, during which they developed two […]
The recent announcement from Novo Nordisk has raised expectations regarding the future pricing of Ozempic, the widely used diabetes medication. At the Cantor Global Healthcare Conference in New York, Ulrich Otte, a senior executive at Novo, stated that Ozempic is “very likely” to be included in upcoming negotiations with the U.S. government around drug prices. […]
In a landscape where many luxury brands are struggling, Hermès International has emerged as a beacon of resilience, prompting analysts at BNP Paribas Exane to upgrade the luxury goods maker’s stock to an “outperform” rating. This upgrade not only reflects confidence in Hermès’s robust business model but also positions it as a defensive trade option […]
In a bold statement aimed at both customers and critics, Joshua Schulman, the newly appointed CEO of Burberry, has confirmed his commitment to preserving the brand’s premium status. Following his recent debut at London Fashion Week, Schulman asserted that lowering Burberry’s market position is not an option; instead, he intends to refine the brand’s pricing […]
In an unexpected turn for the retail sector, US retail sales saw a modest increase of 0.1 percent in August. This rise can largely be attributed to a surge in online purchases, overshadowing mixed outcomes across other retail categories and a notable downturn in receipts at gas stations. These statistics, drawn from the Commerce Department’s […]
As the holiday shopping season approaches, it seems that the U.S. retail landscape is bracing for a quieter period than anticipated. According to a recent report from Challenger, Gray & Christmas, retailers are set to hire approximately 520,000 seasonal workers this year, compared to 564,200 in 2023. This decline is indicative of a softer labor […]
OpenAI, the organization behind the artificial intelligence chatbot ChatGPT, has made significant strides in enhancing its commitment to ethical practices in AI development. The establishment of its newly formed Safety and Security Committee marks a vital evolution in its governance structure. This committee is now functioning independently, providing oversight throughout the development and deployment processes […]
In a strategic maneuver reflecting positive forecasts and robust capital investments, Microsoft has recently announced a significant increase in its quarterly dividend and initiated a substantial share buyback program. The technology behemoth has raised its quarterly dividend to $0.83 per share, indicating a remarkable 10% increase, a move that underscores its confidence in current and […]
In a significant move towards digital transformation, forty of the world’s leading commercial banks have united under the Agora Project to pilot the use of digital currencies. This collaboration, which includes major players like JPMorgan, HSBC, UBS, and Japan’s Mitsubishi UFJ Financial Group (MUFG), is designed to enhance cross-border payment systems using tokenized bank deposits […]
