E-Commerce Firm Jumia Draws Takeover Interest From Axian
A deal between the biggest e-commerce platform in Africa and telecommunications company Axian would help both company expand across the continent.
Bloomberg
Laopu Gold: China’s Homegrown Jewellery Success Story
While European and American luxury brand sales have fallen in China, Laopu Gold Co.’s sales have doubled in each of the past two years, underscoring a shift towards homegrown brands.
Salomon and Arc’teryx Help Amer Sports Defy Downturn With Athleisure Bet
Since its New York Stock Exchange debut in February 2024, the Helsinki-based group, which also owns outerwear brand Arc’teryx and sports equipment maker Wilson, has nearly tripled its market value to $21 billion.
New Balance Bets Its Basketball Future on Cooper Flagg
The brand known for its running shoes is making its mark in the basketball business after signing 18-year-old NBA Draft top pick Cooper Flagg.
Target Explores Factory-Direct Shipping Model Used by Temu
The retailer is in early stages to broaden its range of low-cost offerings, which would primarily include apparel, household goods and other non-food items.
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The News in Brief
Saks Gets $600 Million Lifeline as Creditors Face Steep Losses
As part of the arrangement, a group holding a slim majority of the struggling luxury retailer’s $2.2 billion of 11 percent bonds, will provide Saks an immediate $300 million loan, according to deal terms reviewed by Bloomberg.
Retail Emerges as Most Distressed Sector in Europe, Report Says
Retail is suffering from weak discretionary spending, margin compression and tightening credit conditions, pushing distress in the sector to the highest level since the global financial crisis in 2009.
Selfridges Wins Approval for Private Members’ Club
The Westminster City Council approved an application to convert space in the department store’s flagship London outlet into a membership venue with a terrace and private dining room.
Forever 21’s US Operator Wins Court Approval to Liquidate
The embattled fast-fashion company's repayment plan includes a settlement with lenders and former Forever 21 parent Sparc Group that’s designed to boost recoveries for unsecured creditors that stood to get pennies on the dollar.
Elliott-Backed Claire’s Eyes Sale as Tariffs Hit Budget Jeweller
Claire’s needs to address a nearly $500 million loan due in December 2026 and recently chose to defer interest payments on its debt to conserve cash.
US Strikes on Iran Come at Fragile Moment for the Global Economy
The outlook now hinges on how forcefully the Islamic Republic retaliates, with any trade disruptions caused by a further escalation of the conflict acting as yet another brake on the world economy.
Giorgio Armani to Miss Runway Shows As He’s ‘Recovering’ at Home
The Italian fashion designer will follow the shows remotely while menswear head Leo Dell’Orco will greet guests on Saturday and Monday in his stead.