On October 30, 2024, Estée Lauder Companies confirmed that Stéphane de La Faverie will take the helm as chief executive officer, effective January 1, 2025. This announcement comes at a critical juncture for the brand, which has seen a significant decline in stock prices and mixed forecasts in recent years. Stéphane de La Faverie brings […]
Jane Lauder to Step Down at Estée Lauder Companies
Jane Lauder’s announcement to leave her position as Chief Digital Officer and Executive Vice President of Enterprise Marketing at Estée Lauder Companies marks a significant turning point for the iconic beauty brand. As the granddaughter of founder Estée Lauder, her departure at the end of this year signals not just a personal change, but a […]
Ex-Abercrombie CEO Arrested Amid Sex Trafficking Investigation
In a shocking turn of events, Mike Jeffries, the former CEO of Abercrombie & Fitch, was arrested last week amidst a federal investigation into allegations of sex trafficking. This development has sparked widespread attention and raised critical questions about accountability in corporate America, especially considering the significant power Jeffries wielded during his tenure at one […]
Social Platform X Faces Fines Before Resuming Operations in Brazil
In a significant ruling, Brazil’s Supreme Court has mandated that social platform X, formerly known as Twitter, must settle outstanding fines amounting to $5 million prior to resuming its operations in the country. This legal action arose after the platform, owned by Elon Musk, was silenced in Brazil due to its non-compliance with court directives. […]
Mike Ashley’s Frasers Group Makes £83 Million Offer for Handbag Maker Mulberry
In a noteworthy development in the luxury retail sector, Mike Ashley’s Frasers Group has made a significant move by proposing an £83 million bid to acquire the British handbag maker Mulberry. This offer comes amid pressing concerns surrounding the financial stability of the luxury brand, particularly following its announcement of a £10.75 million emergency share […]
Euroitalia Acquires Moschino Beauty Brand From Aeffe
In a significant shift within the luxury beauty market, Italian fragrance powerhouse Euroitalia has successfully purchased the beauty rights of the famed Moschino brand from Aeffe for €98 million (approximately $110 million). This acquisition, announced on September 26, 2024, marks a pivotal moment for both parties involved, especially given Aeffe’s ongoing challenges with sales and […]
Adrian Cheng Steps Down as CEO of New World Development
In a surprising move that has sent ripples through the Hong Kong real estate market, Adrian Cheng has stepped down as the chief executive officer of New World Development Company, marking a significant shift in leadership for one of Hong Kong’s largest property developers. The resignation comes in the wake of the company’s first annual […]
Adidas' Remarkable Recovery: How the Samba Brought the Brand Back to Life
In the world of sportswear, the Adidas Samba has emerged as a surprising frontrunner, captivating a diverse clientele that includes celebrities and political figures alike. Since its resurgence over the past year, the Samba has taken the fashion sneaker market by storm. However, this surge in popularity was not part of the original plan laid […]
Nike CEO John Donahoe to Step Down
In a significant shift for the sportswear giant, John Donahoe will step down as CEO of Nike, effective October 13, as confirmed by the company. His departure comes amidst mounting pressure from shareholders and a challenging sales environment. Elliott Hill, a seasoned executive who previously served at Nike for over three decades, will return to […]