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Coty sells its stake in Kim Kardashian’s beauty brand to Skims

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2 days ago

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Reuters

Published



March 23, 2025

CoverGirl parent Coty said on Friday it would sell its 20% stake in reality TV star Kim Kardashian‘s beauty brand to her clothing line, Skims, consolidating the two businesses under a single brand.

Kim Kardashian

Coty, which acquired a stake in Kardashian’s beauty business, Skkn, in 2021, said it would use the proceeds from the sale to reduce debt and invest in innovations across its broader brand portfolio.
The New York-based lipstick maker has been struggling to lift sales, owing to muted spending from cost-conscious consumers amid rising inflationary woes.

Last month, Coty cut its annual profit forecast and posted a surprise drop in quarterly revenue, joining its larger peer Estee Lauder in taking a hit on sales from weakness in Asia travel retail business.

Anna von Bayern, CEO of Kylie Cosmetics and leader of Kim Kardashian’s beauty business at Coty also said the company would continue to work with Kylie Cosmetics brand.

In 2023, Kim Kardashian was said to be in talks with Coty to buy back a minority stake in her beauty firm as part of an effort to expand Skkn’s beauty categories.

Coty did not provide the purchasing price of the stake and did not immediately respond to Reuters request for comment.

© Thomson Reuters 2025 All rights reserved.



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Pepkor to buy four brands giving it access to 462 African stores

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44 minutes ago

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March 25, 2025

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By

Bloomberg

Published



March 25, 2025

Pepkor Holdings Ltd. will buy clothing and homeware brands Legit, Swagga, Style and Boardmans from Retailability Proprietary Ltd., giving Africa’s largest apparel retailer access to 462 more stores across the south of the continent.

Bloomberg

The owner of chains including Pep, Ackermans and Refinery didn’t disclose the exact amount of the purchase, only saying it represents less than 2% of its current market value, which is about 96.9 billion rand ($5.3 billion). Cape Town-based Pepkor will settle the purchase cash, it said in a statement Tuesday. 

The deal is some years in the making, with Pepkor initially exploring a potential takeover of Retailability’s Edgars brand in 2023, according to people familiar with the matter at the time. 

The transaction announced Tuesday won’t include the Edgars, Edgars Beauty, Red Square, Kelso and Keedo businesses.
 



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Hermès taps BNP Paribas CEO, former spy for luxury group’s board

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1 hour ago

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March 25, 2025

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By

Bloomberg

Published



March 25, 2025

Hermès International SCA is set to appoint BNP Paribas SA CEO Jean-Laurent Bonnafé and a former French spy-agency chief to the luxury group’s board.

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

The family-controlled company known for its Birkin bags named Bonnafé, the chief executive officer of France’s biggest bank, to replace Dominique Senequier, 71, the luxury company’s vice chairwoman who’s also CEO and founder of French private equity group Ardian. Also nominated is Bernard Emié, who led France’s external intelligence agency DGSE for close to seven years until January 2024, according to his LinkedIn profile. 

The big-name board picks come even as key roles at Hermès are largely in the hands of descendants of the founding family behind the leather goods maker started by Thierry Hermès in 1837. These include Chairman Eric de Seynes and Executive Chairman Axel Dumas, a sixth generation heir who leads the company.

Also on the executive committee are Dumas’ cousins Pierre-Alexis Dumas and Guillaume de Seynes, respectively overseeing the artistic direction of the brand and the manufacturing operations. The family controls 67% of the share capital of Hermès. 

The changes to the board, disclosed in a filing Monday, will be put to a vote at the company’s shareholders’ meeting on April 30 in Paris. 

Emié, a former ambassador to Algeria, the UK as well as Turkey and Lebanon, will replace Alexandre Viros, the former head of Adecco Group AG in France. A third nominee is Cécile Béliot-Zind, the CEO of dairy company Bel Group, although the filing doesn’t say she’s replacing a current board member. Bonnafé is also a board member of Pierre Fabre SA, the owner of skincare brands such as Eau Thermale Avène. Béliot-Zind and Bonnafé will be appointed for three years while Emié’s mandate will run for two years. 

Hermès, known for its silk scarves, is the second most-valuable stock on the French benchmark CAC40 index, behind rival LVMH Moët Hennessy Louis Vuitton SE, controlled by billionaire Bernard Arnault. Hermès has weathered the demand downturn for luxury goods better than some of its peers, riding the exclusivity of its coveted handbags.

LVMH has also tapped former state officials for its board. Hubert Védrine, a former French foreign affairs minister, has been a member of its board for more than two decades.
 



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Seasalt and Luke 1977 add to Derbion’s fashion offer

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2 hours ago

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March 25, 2025

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Derbion has joined the ever-growing list of shopping centres with new arrivals to report. The Derby mall is set to welcome fashion retailers Seasalt and Luke 1977 with stores to debut in the city later this year.
 

Seasalt

Seasalt has signed a 10-year lease for a 2,400 sq ft unit, which will become its first store at a major East Midlands shopping destination as it continues its UK expansion. Work is set to begin on transforming Seasalt’s space this spring, with the doors to the new store set to open later this year offering its mix of fashion-meets-comfort clothing, footwear and accessories. 

Richie Edwards, director of Retail at Seasalt said: “Our new store at Derbion continues our ambitious growth plans and we are thrilled to secure a space at such a well-performing shopping destination.”

Meanwhile, Luke 1977 will occupy a 1,200 sq ft space becoming the menswear retailer’s 15th UK store, offering a blend of streetwear and smart tailoring.

Luke Enston head Of Retail for the label, said: “Our arrival at Derbion continues our expansion across the UK as our brand continues to go from strength to strength… [allowing] us to gain access to a wide catchment of shoppers.”

The arrival of Seasalt and Luke 1977 follows the recent announcement that Victoria’s Secret will also arrive at Derbion as the shopping centre continues to expand its fashion line up. 

Last year, Derbion also welcomed brands such as Castore, White Stuff and Pavers, while also retaining key names JD and New Look that have invested in enhancing their stores.

“The continued introduction of new brands and retention of popular favourites is a prime example of Derbion’s progressive leasing strategy of optimising the offer from its current retailers whilst attracting exciting new brands to the tenant mix,” it said.

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