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Cris Conf. appoints new board, names Laura Manelli CEO

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Adnkronos

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Nicola Mira

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March 4, 2025

Owner Cris Conf. S.p.A. has appointed a new board of directors for Italian womenswear retailer Pinko. The five members are Pietro Negra as president, Laura Manelli as CEO, and Flavio Sciuccati, Alberto Colombo and Andrea Orlandi. The board will lead Pinko’s efforts to achieve new milestones and meet new challenges, pursuing its vision for growth and innovation.

Owner Cris Conf. has appointed a new board at Pinko, with Laura Manelli as CEO – pinko.com

In a statement, Cris Conf. said that Manelli has joined Pinko after a successful career in the luxury industry, which began in retail with Armani. She has held executive positions at Versace, Fendi, and Sergio Rossi, before the recent stint as partner and CEO at Aemme Capital Srl, a management consulting firm active in the fashion and luxury sectors.

Sciuccati and Colombo will act as independent directors, as they do not collaborate directly with Pinko and Cris Conf., in line with the group’s policy of transparency and accountability.

“A company of significant size cannot simply be considered personal property, but must be regarded and appreciated as an entity shared with all the stakeholders who participate in and benefit from it,” said Negra, president and founder of Pinko.

“At times of change, and since we strive for growth and innovation, it is essential that the activities of the ownership and stakeholders are geared toward the company’s continuity, putting community interest first. Transparent management and regular communication are essential for gaining the stakeholders’ confidence and overcoming any scepticism, also in financial affairs and in the relationship with suppliers,” he added.



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Target braces for first-quarter profit pressure due to tariffs, low demand

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Reuters

Published



March 5, 2025

Target warned on Tuesday that uncertainty around tariffs would weigh on the retailer’s profit in the first quarter and doubled down on sourcing more of its products from countries including Guatemala.

Reuters

Target joined bellwether Walmart, as well as electronics retailer Best Buy in warning about expectations for the year. Sticky inflation and tariffs on imports proposed and implemented by President Donald Trump are expected to temper demand for non-essential categories such as home furnishings and electronics that make up more than two-thirds of Target’s sales.

Target shares were down 3.2% in afternoon trading on a day Wall Street’s main indexes fell on broader tariff worries.
The retailer told reporters on Tuesday that the new tariffs on imports from Mexico and Canada – that took effect on Tuesday – are “new dimensions” which could result in increased industry-wide prices for seasonal produce such as avocados.

Target, like other retailers, depends on lots of vegetables and fruit like avocados from Mexico during winter, CEO Brian Cornell said.

“But if there’s a 25% tariff, those prices will go up … certainly over the next week,” he said on a CNBC interview earlier in the day, declining to say the degree of price hikes Target shoppers will see on its own shelves.

Target also said it would move more of its sourcing for its store brands, which include All in Motion and Cat & Jack, to countries in the Western Hemisphere like Guatemala and Honduras, and away from China where 30% of those products are made. It expects to further reduce that dependence to 25% next year.

“These things are unfolding so quickly. I think all of us are speculating and I think we will listen and learn and make sure we control the things we can control,” Cornell said.

Target forecast annual comparable sales to be about flat in the year through January 2026, compared to Wall Street’s expectations for a 1.86% rise. It expects earnings of between $8.80 and $9.80 per share, which were in line with estimates.

While the forecast excludes tariff impacts, it said that consumer stress and the noise surrounding tariffs hit February sales and could pressure first-quarter profits.

“As we turn the corner now there has been talk about the tariffs and uncertainty with economy … and while all those behaviors we have seen with the consumer (over the past year) are not changing, they are becoming more pronounced,” Chief Commercial Officer Rick Gomez said on a media call.

On Tuesday, Target also said that due to “elevated volatility” in its business, it would stop its decades-old practice of issuing quarterly guidance.

“Consumer spending trends are not yet back to normal today,” Chief Financial Officer Jim Lee said.

Target’s disappointing outlook may reflect the mood of shoppers who in January pulled back spending far more than expected and showed that they are much more worried about the impact of tariffs on their wallets.

The Minneapolis-based retailer has been facing competition from bigger rivals such as Walmart, Amazon, opens new tab and Costco, opens new tab who have used their scale to offer lower prices.

And while Target has tried to claw back some demand by cutting prices, ramping up promotions, and partnering with celebrities like pop star Taylor Swift to offer exclusive deals on products, analysts warn it may not have been enough to recapture market share.

“Walmart has been known to have a business that is growing margins and market share, something that Target has not been able to exemplify over the last few years, so the guidance is another point of frustration for investors,” said David Wagner, head of equities at Aptus Capital Advisors.

Still, Target’s holiday quarter comparable sales rose 1.5% and beat estimates as heavy discounts and promotions helped drive sales. Earnings fell 19.3% to $2.41 per share, but beat estimates of $2.27.

Online comparable sales rose 8.6% driven by higher sales of beauty, apparel, toys and sporting goods. But this also drove up costs of box shipping, or those made within one or two days, Target said.
 

© Thomson Reuters 2025 All rights reserved.



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PFW Tuesday: Alaïa and Undercover

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A major revival and a veteran celebration were the key stories in Paris Fashion Week Tuesday, as Pieter Mulier presented his latest collection for Alaia in the brand’s spanking new HQ, and Jun Takahashi feted his 35th anniversary show.
 

Alaïa: Abstract geometry in the 11th arrondissement

On a chilly evening, Pieter Mulier presented a collection characterized by geometric abstraction for Alaïa, a noble manner to inaugurate the house’s brand-new headquarters in north Paris.

Alaïa fall/winter 2025 collection in Paris – Alaïa

Both the new HQ and the Rue St. Servan were not fully finished causing a chaotic entry and exit from the show. Nonetheless, located just south of the famed Père Lachaise cemetery, the HQ trumpeted the renaissance of the house under the direction of Mulier, and the management of luxury behemoth, Richemont.

Though regarded as one of the greatest all-time designers, Azzedine Alaïa was notoriously stubborn – staging his rare shows months outside of fashion seasons, and, hence attracting few actual buyers. And ending a modest success given his innate talent.

Mulier to his credit manages to balance commercial with creditable, cool with cash register. His vision of Alaïa is respectful of his DNA, even as he extends its domain with unexpected materials and far more global influences.

This season, the Belgium-born designer explained he sought inspiration from multiple cultures: Bolivia, North Africa and the U.S. Yet there was nothing eclectic or culturally appropriative about the resulting clothes.
 
His revamped grass skirts, ethnographic headgear or Andean riffs all felt very new. The opening cowl headgear used with semi-sheer woolen tops or faux-leather puffer great coats with balloon necklines were all impressive. As was his super-heroine leather basketweave tops and slashed away blazers – Catherine de Medici on the Amazon.
 
Pieter cut shearling/mink coats and double-face cashmere coats diagonally with great flourish. All of them looked great. That said, it was far from a flawless display: due to too many repetitive pleated dresses and some overly theatrical shapes. A tad too many clothes for a runway and not real life.
 
But all told, this was a rather sublime collection cementing Mulier’s reputation as a fashion leader.
 
“The idea is to take the very essence of an idea or a garment and make it say ‘new’,” commented Mulier post-show. 
 
And, new this collection certainly was.

Undercover: Nostalgic, but not really

There are few more talented but willfully eccentric designers today than the great Jun Takahashi, whose 35th-anniversary collection of his brand Undercover actually commemorated his 20th-anniversary collection. Well, sort of.

Undercover – Fall-Winter2025 – 2026 – Womenswear – France – Paris – ©Launchmetrics/spotlight

His winter 2005 collection was entitled “but beautiful… part parasitic, part stuffed”. This season, his winter 2025 selection was named “but beautiful 4…”
 
Takahashi’s first clever idea was combining jogging pants from Champion with tailored jackets. A look that generally is slobby. But in Jun’s skillful hands, led to a poetic sense of comfort. Joggers with worn safaris or butterfly speckled blazers.
 
Two decades ago, his collection referenced Patti Smith and stuffed animals. This season, the entire soundtrack was from Nina Simone. From punk rock to soulful poetry, rather like these clothes. While the cast was composed of several familiar figures from Paris hipster world – like singer Joana Preiss.
 
The stuffed animals, however, made a brilliant return at finale with some outlandish avant-garde taxidermy. From two mashed up puffer ball gowns like deranged peacocks, to a trio of phantasmagorical feather creatures with illuminated headbands.
 

Undercover – Fall-Winter2025 – 2026 – Womenswear – France – Paris – ©Launchmetrics/spotlight

Finishing a show bristling with ideas inside the Salle Wagram, a 19th-century wrought iron and pine floor dance that is an iconic fashion show location in Paris.
 
In terms of global recognition, Jun Takahashi and Undercover will always remain obscure. However, for fashion insiders, Jun will always retain a high rank in the designer pantheon. His unexpected juxtaposition of ideas and forms, his sense of fashion poetry, his ability to funnel bizarre inspirations to suggest a fresh new fashion universe. Takahashi is a great designer who will always be cherished in Paris. While this collection, and his previous ideas from 20 years ago, will be loved.
 

Copyright © 2025 FashionNetwork.com All rights reserved.



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TikTok parent ByteDance valuation rises in latest share buyback, sources say

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Reuters

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March 4, 2025

TikTok’s parent company ByteDance is offering to buy back shares at a higher valuation than six months ago as it launches a new share repurchase program for U.S. employees this week, two people familiar with the matter told Reuters on Tuesday. 

Reuters

ByteDance told its U.S.-based employees that it is offering $189.90 per share, the people said. The price marks an increase of 11% from the per share price of $171 in their share buyback program from a year ago and $181 from six months ago.

The new share price could value ByteDance at around $315 billion, according to another source, showing the recovery of one of the most valuable private companies from a valuation drop in 2023. 

The Chinese owner of the popular short video-sharing app’s regular share buyback program underscores its strong balance sheet, bolstered by growing domestic and global businesses—even as its popular app, TikTok, faces the threat of a U.S. ban.

Congress cited national security concerns when it passed a law last year requiring ByteDance to divest TikTok by Jan. 19, or face a ban in the United States.

The app used by 170 million Americans briefly shut down in the U.S. hours before the ban was slated to take effect, then resumed service after President-elect Donald Trump offered a temporary reprieve.

Trump postponed enforcement of the ban for 75 days to give ByteDance the opportunity to explore its options, and tasked Vice President JD Vance to oversee the process.

© Thomson Reuters 2025 All rights reserved.



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