On August 9, synthetic biotechnology company Amyris, Inc. filed for bankruptcy in the U.S. Bankruptcy Court in Delaware.
Last April, luxury marketplace Farfetch made a splash with its entry into the beauty sector. However, the company has recently been facing difficulties in running its beauty division, and industry insiders are reporting that Farfetch’s beauty division may be shutting down.
Tapestry, the parent company of Coach, is acquiring Capri Holdings, which owns fashion brands such as Michael Kors, Versace, and Jimmy Choo. The purchase price is approximately $8.5 billion.
Leading sports apparel brand Nike has announced plans to partner with FitLab, an integrated operating company of performance lifestyle brands, to open group fitness studios called Nike Studios later this year.
On August 4, Gap announced its collaboration with LoveShackFancy. A total of 76 capsule collections will be available in stores and online.
Since the pandemic, consumers’ expectations of physical stores have changed dramatically. In recent years, it is no exaggeration to say that having the right technology tools in stores is an “indispensable prerequisite” for improving the convenience of stores.
On July 28, WWD revealed that Prada will launch its first skincare and makeup products.
On July 27, Kering announced that they will acquire a 30% stake in Valentino from Qatari investment firm Mayhoola, the parent company of Valentino, for a cash consideration of €1.7 billion.
On July 26, Gap Inc. announced that they will appoint Mattel’s President and Chief Operating Officer (COO), Richard Dickson, as CEO beginning next month.
On July 25, The Council of Fashion Designers of America (CFDA) announced the tentative official schedule for New York Fashion Week (NYFW) to be held this September.