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Ferrari Group IPO priced at €8.6, shares up almost 5% in Amsterdam debut

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February 13, 2025

Luxury logistics company Ferrari Group said on Thursday it priced its initial public offering at €8.60 per share, just above the midpoint of its indicative price range.

Ferrari Group’s shares were up almost 5% in early trading on its debut on the Amsterdam bourse.

The IPO price gave the company an initial market capitalisation of €785 million ($818 million).

The founding family sold 25% of existing shares in the company, with books covered throughout the range on the full deal size, a bookrunner had said last week.

The group was founded in 1959 and focuses on shipping luxury goods such as high-end watches and jewellery.
 

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Fashion

L’Oréal USA appoints new acquisitions head

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February 13, 2025

French beauty giant L’Oréal Groupe announced on Thursday the appointment of Ali Goldstein to the role of president of acquisitions for L’Oréal USA.

Ali Goldstein – Courtesy

Goldstein succeeds Carol Hamilton, who will be retiring from L’Oréal after a 40-year career with the Paris-based company.

In her new role, Goldstein will be responsible for identifying U.S. beauty brands and services for potential acquisition or investment across all four L’Oréal Divisions — mass market, luxury, dermatological and professional beauty. She will report to David Greenberg, CEO of L’Oréal USA and president of the North America zone.

Joining L’Oréal in 2001, Goldstein ​has served in leadership roles across L’Oréal Paris, Maybelline, and Garnier. She then served as senior vice president, strategy & business development for the consumer products division (CPD), where she was responsible for identifying new business opportunities, including acquisitions and helping to develop the growth plan of the division in the U.S.

​Since 2019, Goldstein has served as U.S. President of L’Oréal Paris, the largest brand in L’Oréal USA’s portfolio. 

“Ali Goldstein’s unmatched knowledge of the industry and the American beauty market, her sensitivity to spotting emerging trends and scouting new business opportunities, and her decades-long experience of building powerful brands and setting them on a course for growth make her the perfect candidate to lead our company’s brand acquisition strategy into the future,” said Greenberg.

Earlier this month,  L’Oréal said it had acquired a minority stake in Jacquemus, forging an “exclusive beauty partnership” with the independent French fashion label.

 

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Fossil Group extends licensing agreement with Michael Kors through 2027

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February 13, 2025

Fossil Group announced on Thursday an extension of its long-standing licensing agreement with luxury fashion brand Michael Kors, securing their partnership through 2027. 

Fossil Group extends licensing agreement with Michael Kors through 2027. – Michael Kors

The agreement ensures that Fossil Group will continue designing, manufacturing, and distributing Michael Kors watches and jewelry worldwide.

“We’re delighted to announce the continuation of our long partnership with the Fossil Group. They’ve been a valued partner of the Michael Kors brand for many years,” said John D. Idol, chairman and CEO of Capri Holdings Limited and CEO of Michael Kors.  

The renewed deal builds upon a relationship spanning more than two decades, reinforcing Fossil Group’s position as a leader in the fashion accessories market.

“Our relationship with Michael Kors remains among our most valued licensed partnerships,” said Franco Fogliato, CEO of Fossil Group. 

“We are honored to have been entrusted with their brand for over 20 years and look forward to the exciting opportunities that lie ahead in our partnership.”  

Earlier this month, Fossil Group announced the appointment of Joe Martin as chief commercial officer and Antonio Carriero as chief digital information officer and general manager for the EMEA region. 

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Sephora to open second Manchester store this summer

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February 13, 2025

Sephora continues to build its UK store portfolio with Manchester seen as a strategic part of its plans, warranting a second city store.

The French beauty giant said following “the immense success” of its Northern debut last spring with the opening of its first store outside of London at Manchester’s Trafford Centre, a second in is now scheduled for Manchester Arndale, the largest inner-city shopping destination.

The opening will become Sephora’s 10th UK store and follows other 2025 debuts at Liverpool One and Sheffield’s Meadowhall Shopping Centre.

Sarah Boyd, managing director, Sephora UK, said: “Manchester showed us phenomenal support when we opened our first store in the region, which blew away all our expectations. We are thrilled bringing a second beauty playground to our customers in this vibrant and culturally rich city, allowing us to reach even more shoppers with a city centre location at Arndale.

“We already know there is strong appetite from beauty enthusiasts in Manchester as we saw over 2,000 eager customers queue on our opening day last year, and we look forward to recreating the same energy at Arndale and to continue providing an unparalleled beauty experience like no other.”

Steve Gray, head of European Retail Asset Management at Global Mutual, joint asset managers alongside M&G Real Estate, added: “Sephora is an excellent addition to the Manchester Arndale line up as it cements our position as the go-to destination for beauty and fashion brands. The arrival of Sephora continues the strong momentum of international brands selecting Manchester Arndale as they expand their UK retail footprint. This highlights the confidence these retailers have in Manchester Arndale’s continued strong performance and how we continue to attract shoppers from across the North West and beyond.”

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