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Angola bids for majority stake in De Beers, source says

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October 24, 2025

Angola has bid for a majority stake in Anglo American‘s unit De Beers, a source familiar with the matter told Reuters on Friday, setting up a potential standoff with neighbouring Botswana, which also wants to take control of De Beers.

The company name of De Beers is displayed in Hong Kong, China September 14, 2016. Picture taken September 14, 2016 – REUTERS/Bobby Yip

The company is one of the world’s leading diamond companies, with operations spanning Botswana, Namibia, Angola, South Africa and Canada. It has been put up for sale by Anglo amid falling diamond prices and had attracted interest from at least six consortia, according to a Reuters report in June.

The source said Angola’s state-owned diamond company Endiama had submitted the offer for a majority stake in De Beers, confirming a report by Bloomberg News.

Botswana, which currently owns 15% of De Beers, considers the company a strategic national asset, despite the slump in global diamond prices, which has badly hurt its economy. Its mining minister said in July that the Southern African country wanted to take full control of De Beers.

Angola had said in September that it was seeking a minority stake in De Beers and thought it should be led by a private-sector firm.

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Decathlon debuts in El Salvador

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December 8, 2025

French sporting goods retailer Decathlon is continuing its expansion across Latin America. The business has opened its first store in El Salvador, a large-format location at the Multiplaza shopping centre in the country’s capital San Salvador.

Decathlon

‘This country, known for its rich culture, its Pacific coastline ideal for surfing, and its growing passion for outdoor sports, represents a strategic and vibrant market for our mission,” said the business in a release. Decathlon also stated that it aims to “bring people together through sport to make wellbeing accessible for all.”

Decathlon’s expansion into Latin American markets has marked a milestone, boosting access to sports equipment across a range of disciplines. The business currently has a presence in Mexico, Colombia, Chile, Brazil, Panama, Costa Rica, and now El Salvador.

Latin America has become a highly attractive market for European and other international brands, with new market entries up by more than 30% over the past three years.

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More Luxury Club joins Cocoon Group to form ‘circular luxury powerhouse’

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December 8, 2025

Two now becomes three. Fashion accessories/jewellery membership club More Luxury Club has joined forces with Cocoon Club and My Wardrobe HQ to operate under an ever-widening Cocoon Group umbrella to become a “circular luxury powerhouse”.

Image: More Luxury Club

With More Luxury Club founded “to redefine how people access and enjoy luxury goods, building a loyal community passionate about quality, longevity, and conscious consumption”, it dovetails neatly with the Cocoon Group ethos.

Cynthia Morrow, co-founder of More Luxury Club, explained: “Cocoon shares our belief that the future of luxury lies in sustainability, circularity, and community – and we are proud that our members will continue this journey within a company that shares our values and long-term vision”.

She noted that it’s an integration that “marks an important milestone for the circular fashion sector”. 

Cocoon Group’s overall mission is “to build the leading ecosystem for circular luxury”, expanded benefits including access to designer rental, resale, subscription models and exclusive brand collaborations – “all within one unified platform”.

Following its recent merger with My Wardrobe HQ, Cocoon said it has become a consolidating force in the circular luxury sector, bringing together businesses such as Rotaro, Cercle, and now More Luxury Club, “positioning Cocoon as the definitive category leader”, offering the “most comprehensive, sustainable, and innovative way to access and enjoy luxury fashion in the UK”.

Cocoon Group CEO Coco Baraer Panazza, added: “Our mission is to build the most forward-thinking and sustainable way for people to enjoy luxury… as we continue to scale a smarter, more inclusive and more circular future for fashion together.”

Kering used to have a minority stake in Cocoon (which it took in 2021) but it exited that stake earlier this year. 

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More arrivals for Outlet Shopping at The O2 that’s on track for ‘stellar’ 2025

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December 8, 2025

What’s been a good year for Outlet Shopping at The O2 has just got better. The centre, linked closely to the O2 entertainment arena in the Greenwich Peninsular, southeast London, has opened two more new stores — fashion retailer TM Lewin and jewellery brand Lovisa — while also adding a recently-upsized unit for sportswear brand New Balance.

Image: TM Lewin

It all adds up to “growing momentum” for an outlet shopping destination that’s “on track for a stellar end to 2025” having enjoyed a 23% uplift in sales throughout November vs 2024, and footfall up 24% across the whole scheme, it said.

British heritage brand TM Lewin’s 1,827 sq ft store becomes the retailer’s only outlet location after returning to physical retail earlier this year. The space offers the brand’s range of shirts, suits, and accessories.

Dan Ferris, managing director at TM Lewin, said: “Our re-entry into physical retail has been a big move for us this year, and we have carefully selected locations where we believe our stores can get the best experience, regular customers, and be part of a community.”

Also making its outlet debut, Lovisa will open a 1,722 sq ft unit, adjacent to fashion retailers Dune London and Kurt Geiger, becoming the destination’s second dedicated jewellery retailer. It’s arrival supports the venue as a draw for accessories with demand “up 38% over November vs the same period in 2024”.

The store will offer its full range of necklaces, earrings and rings as well as its piercing facilities.

Long-standing tenant New Balance is also set to reinvest at the outlet, upsizing into a new 3,129 sq ft unit. The space will sport the brand’s new store concept, with additional space for wider stock collections.

Louisa Dalgleish, leasing director at Outlet Shopping at The O2, added: “As a destination already full of leading retail, the fact that we continue to attract such strong brands for their outlet debuts speaks volumes about our sustained momentum. Our success is a direct result of our collaborative landlord approach and the strength of our tenant mix, and our positive results throughout November are a clear indication that things show no sign of slowing down, with us remaining firmly front of mind for new entries into the outlet market.”

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