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Tag Heuer becomes title sponsor of the 2026 Formula 1 Spanish Grand Prix

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3 months ago

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Nazia BIBI KEENOO

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September 15, 2025

The Formula 1 Spanish Grand Prix is revving up with a new sponsor. Swiss luxury watchmaker Tag Heuer was announced as the event’s title sponsor on Saturday, 13 September, during a countdown event at Madrid’s Puerta del Sol. At 3 p.m.—the scheduled start time for the 2026 race—a giant Tag Heuer clock was set in motion.

The Swiss luxury watchmaker becomes the title sponsor of the Formula 1 Spanish Grand Prix. – Tag Heuer

The agreement, which reinforces Tag Heuer’s historic ties to motorsport, will ensure the brand maintains a prominent presence across all areas of the event. The activation includes exclusive experiences for fans, as well as on-track activities, in line with its role as Formula 1’s official timekeeper from 2025, following the ten-year global agreement signed between LVMH and the championship.

The Formula 1 Tag Heuer Gran Premio de España 2026 will take place from 11 to 13 September at the capital’s IFEMA Madrid exhibition center. This choice of dates has led IFEMA to modify the schedule for the summer edition of the fashion and accessories trade show Momad, which will now take place in July to avoid clashing with the sporting event.

Founded in 1860 by Edouard Heuer in Switzerland, the brand is now part of the LVMH group and has been led since 2020 by Antoine Pin. Headquartered in La Chaux-de-Fonds, Tag Heuer is present in 139 countries through a network of 260 directly operated stores and over 2,300 points of sale. Its portfolio includes watch lines such as Carrera, Monaco, Autavia, Link, Aquaracer, Formula 1 and Connected.

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Marc Cain names Marc O’Polo’s Patric Spethmann its new CEO

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18 minutes ago

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December 10, 2025

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December 10, 2025

German womenswear brand Marc Cain has named a new CEO and it’s clearly preparing well in advance as he’ll take the reins of the business as of June next year.

Dr. Patric Spethmann – MARC O’POLO

He’s Dr Patric Spethmann, who will be responsible for all areas of the business. Helmut Schlotterer, founder and owner of Marc Cain, will remain chairman of the board, “primarily to mentor Patric Spethmann and act as a coach and advisor”.

So what is it about Spethmann that made the company (whose products are available internationally include the US and UK) pick him? He joins from Marc O’Polo, where he most recently held the position of COO. There, his focus was on “optimising internal processes, increasing the efficiency of workflows and organising structures”.

“In Patric Spethmann, we have gained a leader who brings with him many years of experience in the industry. Together, we will set the course for maintaining our brand and values and strategically driving them forward. This puts us in an excellent position for the future and enables us to respond quickly and efficiently to the challenges of the new era,” Schlotterer said.

And Spethmann added: “I am very much looking forward to joining Marc Cain in June 2026. As a leading player in the field of premium women’s fashion, I am particularly impressed by the company’s extraordinary innovative strength and its clear focus on forward-looking technologies. This combination of creativity, quality and progressive thinking makes Marc Cain, in my opinion, a company that sets trends for the entire industry.”

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South Africa’s Mr Price makes European debut through German value retailer deal

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50 minutes ago

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December 10, 2025

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Reuters

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December 10, 2025

South African fashion retailer Mr Price will acquire NKD Group, a German-based discount retailer for up to 487 million euros ($567.55 million), it said on Wednesday, marking its first entry to the European market. By 1030 GMT, Mr Price shares were down 13.35%. 

A shopper pushes a trolley outside a branch of South African clothing and homeware retailer Mr Price, at the Trade Route Mall, in Lenasia outside Johannesburg, South Africa, February 8, 2023 – REUTERS/Siphiwe Sibeko/File Photo

Mr Price said that NKD, an apparel and homeware retailer with 2,108 stores in ⁠seven Central and Eastern European countries, is a strategic fit. Market data indicates that the growth in the value ⁠retail market is outpacing that of the overall retail market. In Europe, value retailing accounts for about 22% of the market.

“After meeting the NKD team, it was ‍evident that ‌this was the right business to pursue,” said the group’s Chief ⁠Executive Officer Mark Blair. “Like ‌us, they are value-retailers at heart and have a very ‌clear understanding of who their customer is and how to best serve them,” he added.

The acquisition of NKD, which is from funds managed by TDR Capital LLP,  includes the purchase of all NKD ‍shares and income from shareholder loans. The deal will be settled using a mix of existing cash reserves and debt facilities, Mr Price ‌said in ⁠a ​statement.

The transaction is subject to regulatory approvals, including clearance ⁠from ​the European Commission and the South African Reserve Bank. It is expected to close by the second quarter of 2026, Wednesday’s statement said.

Once completed, ​Mr Price’s annual revenue would increase to approximately 53 billion rand ($3.12 billion) from 40.9 billion rand, while ⁠the number of its stores would ⁠reach more than 5,000, up from around 3,100,  and it would have more than  40,000 employees.

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CVC plans sale of Japan’s FineToday after scrapped IPO, sources say

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1 hour ago

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December 10, 2025

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Reuters

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December 10, 2025

Private equity firm CVC Capital Partners is seeking a sale of FineToday Holdings, the Japanese personal-care company behind the Tsubaki shampoo brand, after shelving plans to list it in Tokyo, said four sources with knowledge of the matter.

The Tsubaki shampoo brand retails in numerous Asian countries – The Beauty Room- Facebook

FineToday, which counts China as its second-biggest market, postponed its Tokyo Stock Exchange initial public ⁠offering (IPO) in October, citing market conditions, according to a company statement. FineToday was expected to debut with a market capitalisation of about 169 billion yen ($1.08 billion) in the postponed ⁠IPO. The company had previously targeted roughly 219 billion yen in a 2024 attempt to go public.

Both valuation outcomes fell short of CVC’s internal expectations, two of the sources said. One of the sources said CVC is now seeking a valuation of over $2 billion, ‍or around ‌14–15 times earnings before interest, taxes, depreciation and amortisation (EBITDA), for FineToday.

Interest has emerged from global buyout ⁠firms and at least one Chinese strategic ‌investor, one of the sources added, but declined to name any of the interested ‌parties. All the sources declined to be identified as the information is confidential.

CVC and FineToday declined to comment on Wednesday.
The planned sale comes amid renewed strains in Japan–China relations. FineToday noted in its latest preliminary offering document that sales in China and Hong Kong were hit by a consumer backlash against Japanese ‍brands after Japan released treated water from the Fukushima nuclear plant in 2023, and warned that it remains exposed to any future geopolitical tensions.

FineToday was created in 2021 after Shiseido Co carved out its personal-care ‌unit and sold it ⁠to ​CVC in a 160 billion yen deal. The Tokyo-based company manufactures and markets haircare, skincare ⁠and deodorant ​products under brands including Tsubaki, Fino, Senka, Uno, Ag Deo24 and Kuyura, according to its official website and IPO filing.

About half of its sales come from overseas markets, with China a key market. In ​the six months ended June 30, 2025, 35.9% of revenue came from China and Hong Kong, while Japan contributed 44.3%, the filing showed.

FineToday posted 107.3 billion yen ($688.66 ⁠million) revenue in 2024 and 56.6 billion yen in ⁠the first half of 2025, with an adjusted EBITDA margin improving to 21.0% from 15.5% a year earlier, according to the filing.

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