E-tail giant Alibaba is seeking to dethrone Chinese rival Shein from its powerful position in fast-fashion online retail with the launch of its own value-focused, trend-responsive fashion platform AllyLikes.
On October 20, the British luxury e-tailer is launching There Was One, a womenswear line of high-end, sustainable essentials developed with New Guards Group, the parent company of Palm Angels and Heron Preston.
The company revealed on Tuesday that it will offer some 15 million shares, which it expects to sell for between $18 and $21 apiece. At $21 a share, Rent the Runway’s valuation could hit nearly $1.3 billion.
The beauty retailer provided a strategic update to investors on Tuesday, revealing plans to invest in new delivery improvements and digital capabilities, but ultimately disappointing with a lower-than-expected outlook.
A book surely destined to make a brilliant TV series is Miss Dior, A Story of Courage and Couture, the dark yet beautiful tale of Catherine Dior, muse and sister of Christian and a brave member of the French Resistance.
Kering's star brand Gucci grew sales by 3.8% in the third quarter, missing analyst expectations, as the pace of recovery from the coronavirus pandemic slowed down sharply following a bumper second quarter.