After Off-White, Palm Angels and Alanui, also Ambush has left the struggling New Guards Group (NGG). The latter, a division of British e-tailer Farfetch, which was bought by Korean conglomerate Coupang in early 2024, acquired a majority stake in Ambush in 2020. Ambush’s founders, designer Yoon Ahn and rapper Verbal, have now bought back their stakes in the label.
Japanese rapper Verbal (left) and Korean designer Yoon Ahn – Ambush
The value of the transaction was not disclosed, but the operation, completed on April 11, marks a new departure for Ambush, a label with an avant-garde, deconstructed aesthetic. In a press release, Ambush said that “having gained complete independence again, [it] is planning to broaden its presence, expand its digital and high-tech initiatives, and continue to deploy new cross-genre collaborations with fashion, music and more.”
The label, born in 2008 with a jewellery collection, was set up jointly by influential Japanese DJ, musician and producer Verbal, and Korean designer Yoon, who grew up in Seattle. Ambush then introduced streetwear-influenced women’s and men’s ready-to-wear collections inspired by sub-cultures and the music world. The label operates a store in Tokyo and has grown in the last five years thanks to prestigious collaborations with the likes of, among others, Nike, Sacai, Off-White, Undercover and Bulgari.
“Regaining full ownership enables us to fully express the core values and original vision upon which Ambush was built,” said Creative Director Yoon. “Taking back ownership is an important milestone that restores our freedom to pursue innovation and deepen our community connections globally,” said Verbal, CEO of Ambush.
NGG has been gradually divesting its leading labels, with Off-White and Palm Angels recently bought by New York-based brand management company Bluestar Alliance, while Alanui’s founders Carlotta and Nicolò Oddi bought back their stakes last March, and seems destined to being dismantled. The Milan-based group, which also owns Marcelo BurlonCounty of Milan, Unravel Project, Heron Preston, Kirin Peggy Gou and Opening Ceremony, has been beset by financial difficulties, and last year applied for bankruptcy protection in Italy.
NGG was acquired by luxury e-tailer Farfetch for over €600 million in 2019, and was penalised by the economic crisis and the waning popularity of streetwear, as well as being burdened by Farfetch’s own problems. NGG’s future outlook clouded further after Farfetch was bought by Coupang, which indicated that it would chiefly focus on the e-tailer’s online business.
Grammy-winning rapper and entrepreneur Kendrick Lamar will star in Chanel‘s Spring 2025 eyewear campaign, launching April 22. The collaboration underscores the French luxury house’s ongoing commitment to cultural storytelling, blending fashion and music to connect with a younger global audience.
Kendrick Lamar fronts Chanel’s latest eyewear campaign as the brand’s new ambassador. – Photo: Karim Sadli
The campaign features Lamar alongside actors Margaret Qualley, Lily-Rose Depp and Nana Komatsu, showcasing Chanel’s latest eyewear collection. With this move, the brand aims to engage culturally connected consumers in key global markets.
Chanel began building ties with Lamar in 2023, when he wore a custom look by the house to the Met Gala. In early 2024, his creative company, pgLang, collaborated with Chanel on “The Button,” a fashion short film that premiered during the brand’s haute couture presentation in Paris.
Although Chanel is traditionally recognized for its womenswear, Lamar’s participation signals the house’s inclusive approach to categories such as eyewear. It also reflects the brand’s continued evolution in storytelling, leveraging cross-disciplinary partnerships that bridge fashion and entertainment.
Kendrick Lamar attends the 2023 Met Gala celebrating “Karl Lagerfeld: A Line of Beauty.” – Photo: Getty Images / Arturo Holmes
Eyewear remains one of Chanel’s most dynamic commercial categories, serving as an entry point for new customers. The brand has continued to grow its presence in this segment with expanded retail efforts and seasonal storytelling. According to Bruno Pavlovsky, president of Chanel’s fashion division, eyewear is more than a functional accessory—it plays a strategic role in the house’s business model and overall brand strategy.
With this collaboration, Lamar joins a select group of male ambassadors at Chanel, including G-Dragon and Timothée Chalamet. The partnership may extend beyond the current campaign through additional creative projects led by pgLang, blending Chanel’s heritage with contemporary culture.
As the campaign rolls out this week, Chanel’s move reflects a growing shift in luxury marketing, where cultural credibility and cross-industry partnerships are essential to maintaining global relevance in a competitive landscape.
China on Monday accused Washington of abusing tariffs and warned countries against striking a broader economic deal with the United States at its expense, ratcheting up its rhetoric in a spiralling trade war between the world’s two biggest economies.
White House
Beijing will firmly oppose any party striking a deal at China’s expense and “will take countermeasures in a resolute and reciprocal manner,” its Commerce Ministry said.
The ministry was responding to a Bloomberg report, citing sources familiar with the matter, that the Trump administration is preparing to pressure nations seeking tariff reductions or exemptions from the U.S. to curb trade with China, including imposing monetary sanctions.
President Donald Trump paused the sweeping tariffs he announced on dozens of countries on April 2 except those on China, singling out the world’s second largest economy for the biggest levies. In a series of moves, Washington has raised tariffs on Chinese imports to 145%, prompting Beijing to slap retaliatory duties of 125% on U.S. goods. Last week, China signalled that its own across-the-board rates would not rise further.
“The United States has abused tariffs on all trading partners under the banner of so-called ‘equivalence’, while also forcing all parties to start so-called ‘reciprocal tariffs’ negotiations with them,” the ministry spokesperson said.
China is determined and capable of safeguarding its own rights and interests, and is willing to strengthen solidarity with all parties, the ministry said.
“The fact is, nobody wants to pick a side,” said Bo Zhengyuan, partner at China-based policy consultancy Plenum.
“If countries have high reliance on China in terms of investment, industrial infrastructure, technology know-how and consumption, I don’t think they’ll be buying into U.S. demands. Many Southeast Asian countries belong to this category.”
Pursuing a hardline stance, Beijing will this week convene an informal United Nations Security Council meeting to accuse Washington of bullying and “casting a shadow over the global efforts for peace and development” by weaponizing tariffs.
Earlier this month, U.S. Trade Representative Jamieson Greer said nearly 50 countries have approached him to discuss the steep additional tariffs imposed by President Donald Trump. Several bilateral talks on tariffs have taken place since, with Japan considering raising soybean and rice imports as part of its talks with the U.S. while Indonesia is planning to increase U.S. food and commodities imports and reduce orders from other nations.
Trump’s tariff policies have rattled financial markets as investors fear a severe disruption in world trade could tip the global economy into recession.
On Monday, Chinese stocks inched higher, showing little reaction to the commerce ministry comments, though investors have generally remained cautious on Chinese assets due to the rising growth risks.
The Trump administration also has been trying to curb Beijing’s progress in developing advanced semiconductor chips which it says could be used for military purposes, and last week imposed port fees on China-built vessels to limit China’s dominance in shipbuilding.
AI chip giant Nvidia said last week it would take $5.5 billion in charges due to the administration’s curbs on AI chip exports.
China’s President Xi Jinping visited three Southeast Asian countries last week in a move to bolster regional ties, calling on trade partners to oppose unilateral bullying.
Beijing has said it is “tearing down walls” and expanding its circle of trading partners amid the trade row.
The stakes are high for Southeast Asian nations caught in the crossfire of the Sino-U.S. tariff war, particularly given the regional ASEAN bloc’s huge two-way trade with both China and the United States.
ASEAN is China’s largest trading partner, with total trade value reaching $234 billion in the first quarter of 2025 and accounting for over 16% of China’s overall foreign trade, China’s customs agency said last week.
Trade between ASEAN and the U.S. totalled around $476.8 billion in 2024, according to U.S. figures, making Washington the regional bloc’s fourth-largest trading partner.
“There are no winners in trade wars and tariff wars,” Xi said in an article published in Vietnamese media, without mentioning the United States.
Vera Wang has launched a new fragrance marking the brand’s entrance into the luxury fragrance category.
Vera Wang launches new fragrance, Vera Wang Love. – Vera Wang
Dubbed “Vera Wang Love”, the fragrance is now exclusively available on Ulta‘s online store and is set to launch in more than 830 Ulta Beauty stores nationwide on May 18.
At the heart of the scent is the Queen of the Night flower, an elusive bloom symbolizing beauty and mystery. The floral note is enriched by warm amber woods and vanilla, as well as jasmine sambac and a burst of mandarin.
“I’m thrilled to share Vera Wang Love with the world,” said Vera Wang. “The Queen of the Night flower has always fascinated me with its rare, radiant beauty. This fragrance captures that same magical essence—bold yet refined, mysterious yet inviting. It embodies my vision of romanticism with a modern edge.”
The fragrance is housed in a diamond ring-inspired bottle, an homage to love and commitment in all its forms. It comes in two sizes, priced at $65 for 1.0 oz and $85 for 1.6 oz.
“We at Coty are proud to expand Vera Wang into the luxury fragrance space with this innovative launch,” said Coty chief brands officer, consumer beauty, Stefano Curti.
“Vera Wang Love combines high-concentration oils with unexpected ingredients for a long-lasting, uniquely unforgettable scent. It’s a beautiful expression of the romance and sophistication that define the Vera Wang brand.”
Linda Suliafu, vice president of merchandising at Ulta Beauty, added: “Our guests are highly engaged with the fragrance category and use scent to relive life’s memorable moments. Vera Wang Love captures those special feelings all year-round.”