Articles by Prachi Singh
Revolution Beauty: H1 net sales decline by 20 percent
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For the six month period, Revolution Beauty reported a 20 percent decline in net sales to 72 million pounds, driven by the planned simplification of the product portfolio and the associated discontinuation of unproductive SKUs. The company said that the decline also reflects significant stock clearance activity in the first half of FY24....
Mister Spex appoints Eileen Preuss as head of optical expertise
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Omni-channel optician Mister Spex has roped in Eileen Preuss as the new head of optical expertise, reporting to chief commercial officer Francesco Liut. The company said that effective October 1, 2024, Preuss will be responsible for overseeing the quality assurance of Mister Spex's optical services and will play a key role in setting and...
Shein posts 38 percent revenue growth ahead of London IPO
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Online fast-fashion retailer Shein's business in the UK recorded a pretax profit of 24.4 million pounds in 2023, while revenues for the year reached 1.55 billion pounds, up 38 percent ahead of its listing in London. A filing by the firm on Companies House said that Shein opened an office in Manchester, northwest England and pop-up stores across...
Stefano Cantino takes over as CEO of Gucci
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Kering has appointed Stefano Cantino as CEO of Gucci, reporting to Francesca Bellettini, deputy CEO of Kering in charge of brand development. Stefano Cantino, who joined Gucci in May 2024 as deputy CEO, will have a seat on Kering’s executive committee succeeding Jean-François Palus as of January 1, 2025. Stefano Cantino succeeding Jean-François...
THG Ingenuity expands US team, appoints Scott Davis and Alex Felton in key roles
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THG Ingenuity has expanded its US team to support the growth of THG Fulfil. The company has appointed Scott Davis as senior vice president of sales and Alex Felton as vice president of partnerships & alliances. "Broadening our US operations allows us to serve a wider range of brands and retailers and support them as they look to scale and...
Walgreens names Jason Stenta as chief commercial officer
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Walgreens has announced the appointment of Jason Stenta as SVP and chief commercial officer. In this new role, the company said in a release, Stenta will lead the company’s commercial growth strategy, driving development and commercialization of B2B healthcare services built on the company’s core assets, and enhancing partnerships with payers,...
Mytheresa closes the deal to acquire YNAP from Richemont
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Mytheresa has acquired 100 percent of the share capital of Yoox Net-A-Porter Group (YNAP). At transaction closing, Richemont will sell YNAP to Mytheresa with a cash position of 555 million euros and no financial debt. Richemont will also make available a six-year revolving credit facility of 100 million euros to finance YNAP’s general corporate...
Lori Burgher joins Arbonne as chief marketing and growth officer
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Wellness and beauty firm Arbonne International has appointed Lori Burgher as its new chief marketing and growth officer. The company said in a release that Burgher is already leading Arbonne's marketing efforts, focusing on high-impact strategies to drive customer engagement and solidify Arbonne's position as a leader in sustainable, ethical...
Levi Strauss announces strategic review of Dockers to drive growth
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For the third quarter, Levi Strauss net revenues of 1.5 billion dollars were flat on a reported basis, and 2 percent higher on a constant-currency basis. Levi Strauss announced that it has initiated a formal review of strategic alternatives for the Dockers brand, which could include a potential sale or other strategic transaction. The company’s...
Uniqlo Japan September same-store sales surge
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September 2024 same-store sales including online sales increased by 22.1 percent at Uniqlo Japan, while total sales including online sales increased by 24.7 percent. The company, part of the Fast Retailing Group said in a release that same-store sales expanded significantly year on year in September on the back of strong sales of summer ranges...