Swedish fast fashion brand H&M will raise the price of garments produced in Bangladesh to compensate for higher wages for supplier workers.
Beauty
On August 29, E.l.f. Beauty announced that it has entered into a definitive agreement to acquire Naturium for $355 million in cash and stock.
Along with New York Fashion Week, Chanel will open a diner in New York City.
From Friday, September 8 to Saturday, September 10, Chanel will celebrate the launch of its iconic Chance fragrance in Williamsburg, Brooklyn with a diner-themed pop-up event, LUCKY CHANCE DINER.
Marc Jacobs Beauty is coming back with a new agreement with Coty, a beauty conglomerate that has created fragrances for numerous luxury brands.
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.
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 July 28, WWD revealed that Prada will launch its first skincare and makeup products.
L’Oreal announced on April 3 that it has agreed to acquire the Australian skincare brand Aēsop from Natura & Co for approximately $2.5 billion. This deal is the biggest acquisition ever in company history.
Chanel’s new beauty store will open in Williamsburg, Brooklyn this June. At this time, the brand has not revealed whether it will be a pop-up or long-term store, but the store will specialize in beauty and skincare products and fragrances.