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Trump says would extend TikTok deadline if no deal reached by June 19

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Reuters

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May 4, 2025

​U.S. President Donald Trump said he would extend the June 19 deadline for China-based ByteDance to divest the U.S. assets of TikTok, the short video app used by 170 million Americans, if no deal had been reached by then.

Reuters

“I would … I’d like to see it done,” Trump told the NBC News program “Meet the Press with Kristen Welker” in an interview taped on Friday at Trump’s Mar-a-Lago estate in Palm Beach, Florida, that is airing across the United States on Sunday.

Trump said he had a “sweet spot” for the app after it helped him win over young voters in the 2024 presidential election, adding, “TikTok is – it’s very interesting, but it will be protected.”

Trump has already twice granted a reprieve from enforcement of a congressionally mandated ban on TikTok that was initially due to take effect in January.

A deal had been in the works that would spin off TikTok’s U.S. operations into a new firm based in the United States and majority-owned and operated by U.S. investors but it was put on hold after China indicated it would not approve it following Trump’s announcements of steep tariffs on Chinese goods.

Democratic senators argue that Trump has no legal authority to extend the deadline, and suggest that the deal that had been under consideration would not meet legal requirements.

One source close to ByteDance’s U.S. investors said last month that work on the prospective deal continues ahead of the June 19 deadline, but the White House and Beijing would need to resolve the tariff dispute first.

Trump told NBC News that China was keen to reach an agreement, citing the impact that 145% tariffs on Chinese goods were having on its economy.

He said he would not drop the tariffs to get Beijing to the bargaining table, but could eventually lower them as part of a broader agreement.

“At some point, I’m going to lower them because otherwise, you could never do business with them. And they want to do business very much,” he said.

The law required TikTok to stop operating by January 19 unless ByteDance had completed a divestiture of the app’s U.S. assets. Trump began his second term as president on January 20 and opted not to enforce it. He first extended the deadline to early April, and then again last month to June 19.

© Thomson Reuters 2025 All rights reserved.



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Big move for Superdrug as it adds fashion brands to its marketplace

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Major news from beauty and health retailer Superdrug — the company has expanded its marketplace and 60 fashion brands are now selling on the site.

Superdrug

The curated selection of fashion brands includes popular names like Wrangler, Blue Vanilla and Nike to offer Superdrug customers “an enhanced online shopping experience where they can now shop a diverse range of products across beauty, health and now fashion”.

The company said the labels were “handpicked due to their popularity [and] will tap into high-demand categories such as stylish plus-size options and clothing for all”. It specifically chose brands like Pink Vanilla, Regatta, and Jack and Jones to ensure “that every customer finds something that fits their style and needs”.

Its commercial chief Simon Comins said the fashion brands “perfectly complement our existing ranges” and the move will “not only strengthen our position as a go-to destination for a wide range of personal care and lifestyle products but also present a new opportunity to connect with a large and highly engaged customer base that already loves these brands, unlocking new potential for online growth”.

The expansion matches the acceleration of Superdrug’s continued focus on its O+O (Online + Offline) strategy, “which aims to better serve customer need, by providing the best shopping experience across any channel, anytime, anywhere”.

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Dick’s Sporting Goods to acquire Foot Locker in $2.4 billion deal

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Translated by

Nazia BIBI KEENOO

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May 15, 2025

Dick’s Sporting Goods has confirmed its $2.4 billion (€2.14 billion) acquisition of global sneaker retailer Foot Locker, validating earlier reports from the American press. The deal, priced at $24 per share, includes roughly 2,400 stores operating in nearly 20 countries.

Interior view of a Foot Locker store in Paris. – Foot Locker

Foot Locker shareholders will be able to choose between a cash payout or shares in Dick’s Sporting Goods. The transaction values the company at 6.1 times its EBITDA.

Dick’s Sporting Goods confirmed it plans to retain all of Foot Locker’s brand banners, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. Combined, these brands generated $8 billion in revenue during the last fiscal year.

Based in Pittsburgh and founded in 1948, Dick’s Sporting Goods reported $13.4 billion in revenue last year. The group currently operates more than 850 stores across the U.S. under several banners: Dick’s Sporting Goods, Golf Galaxy, Public Lands, and Going, Going, Gone!. It also manages e-commerce channels and the Dick’s mobile app.

In addition to its core retail network, the company operates experiential concepts like Dick’s House of Sport, Golf Galaxy Performance Center, and GameChanger — a digital platform offering live streaming, scheduling, and team management for youth sports.

“We’ve long admired the cultural relevance and value of the Foot Locker brand and its dedicated team of Stripers,” said Ed Stack, executive chairman of Dick’s, referring to the retailer’s recognizable store associates.

“We believe there’s significant growth potential ahead. By applying our operational expertise to this iconic business, we see a clear path to unlocking further growth and strengthening Foot Locker’s position in the market. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports consumers.”

The acquisition marks Dick’s first major push beyond the U.S., presenting new opportunities as well as strategic challenges. The company expects to realize synergies between $100 million and $125 million.

“We look forward to welcoming Foot Locker’s talented team and leveraging their expertise and passion for the business, which we intend to honor and amplify together,” said Lauren Hobart, president and CEO of Dick’s. “Sports and sports culture remain incredibly powerful, and with this acquisition, we’re creating a new global platform that will meet these needs through iconic concepts consumers know and love, enhanced stores and omnichannel experiences, and product assortments that resonate across diverse customer bases.”

The transaction remains subject to standard regulatory approvals, including antitrust review, and is expected to close in the second half of 2025.

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Vuitton reopens summer restaurant in Saint-Tropez

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Vuitton has reopened its summer restaurant in Saint-Tropez, underlining the luxury label’s increasing investment in culinary experiences.

Vuitton’s summer restaurant returns to Saint-Tropez, blending luxury and leisure. – Courtesy of Louis Vuitton

Located at the plush White 1921 Hotel near the House’s historical store, the restaurant reopens today with an updated menu served on the latest colorful Louis Vuitton tableware collection.

Last year, Vuitton’s Saint-Tropez restaurant was awarded a Michelin star, thanks to its updated Mediterranean fare—from marbled tomatoes and ravioli filled with girolles to roasted fowl with a fine velouté or brill meunière prepared with seaweed and citrus.

The reopening also marks this summer’s return of hyper-mediatic chefs Arnaud Donckele and Maxime Frédéric to Vuitton in Saint-Tropez. Donckele and Frédéric first connected with Vuitton’s parent company, LVMH, at the conglomerate’s five-star hotel in the French capital, Cheval Blanc Paris—most notably at Plénitude, the hotel’s three-star restaurant.

Vuitton’s summer menu blends French flair with global finesse.
Vuitton’s summer menu blends French flair with global finesse. – Courtesy of Louis Vuitton

In Saint-Tropez, Vuitton’s restaurant is situated on the famed Place des Lices, site of the resort port’s renowned Provençal market each Tuesday and Saturday.

Beyond Saint-Tropez, Donckele and Frédéric play leading roles in developing the Louis Vuitton Culinary Community, mentoring emerging local talents around the world who, as Members, contribute to the Louis Vuitton luxury snacking vision.

Vuitton now boasts eateries in Milan, Tokyo, Osaka and Bangkok, each overseen by chefs within the Culinary Community. Vuitton cafés have also sprung up in Paris, New York, Bangkok, Japan, Chengdu and soon in Shanghai and Seoul. In effect, the Saint-Tropez restaurant is designed to trumpet Vuitton’s longer-term vision of extending the House’s concept of excellence and savoir-faire to hospitality around the world.

“We are dedicated to bringing customers a relaxed Louis Vuitton culinary experience—whether in Saint-Tropez or any other destination around the world,” said Donckele.

Chefs Maxime Blanc, Maxime Frédéric and Arnaud Donckele lead Vuitton’s culinary vision.
Chefs Maxime Blanc, Maxime Frédéric and Arnaud Donckele lead Vuitton’s culinary vision. – Courtesy of Louis Vuitton

Added Frédéric, “The Culinary Community allows us to align the Louis Vuitton hospitality offering while still encouraging the chefs to flourish according to their own skills and creativity.”

The Saint-Tropez space blends a bright floral pattern similar to a motif seen in LV’s 2025 Women’s Resort collection, designed in a geometric pattern that reinterprets the Monogram Flowers and made in extra-white Limoges porcelain. The ambiance is enhanced with reinterpreted Objets Nomades pieces such as the Mini Bell Lamps designed by Barber & Osgerby and Zanellato/Bortotto’s lamps enclosed within interwoven leather.

Mixing seasonal and regionally sourced ingredients, the menu merges Mediterranean, French and global cuisines—from Wagyu beef in an aromatic bouillon to grilled bluetail lobster with a shiso-infused sauce to sole amidst locally grown herbs and flowers.

May the dining begin.

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