The Hayek family blocked Steven Wood’s second bid for a seat on the watchmaker’s board of directors with their 44 percent voting rights and three board seats, maintaining their tight control of the company.
Some investors had hoped for Wood’s election to shake things up at the company whose net income plunged nearly 90 percent last year, after a 75 percent drop in 2024.
The rejection leaves GameStop CEO Ryan Cohen with the option to try to pursue a proxy fight to replace eBay board members, which could take more than a year.
EBay’s board turned down the offer after taking into account “uncertainty” around the financing plan, the operational risks involved and GameStop’s governance.
Speculation about the future of Nike’s SNKRS app, the platform where the company releases its most limited products, bubbled up over the weekend thanks to a viral LinkedIn post from Stacy Devino, one of the app’s former principal developers.
Japan’s largest beauty conglomerate is looking to potentially swap out oil-based inputs for plant-derived materials as the Middle East conflict upends its supply chain.
The Japanese beauty brand warned Tuesday that shortages of petroleum-derived naphtha could affect the ingredients used in products like moisturisers and makeup.
The US telehealth company posted a surprise loss on Monday, as a shift toward branded GLP-1 weight-loss drugs pressured its margins and domestic sales.
On Holding AG raised its profit outlook after a robust start to the year that saw consumers snap up the Swiss brand’s growing range of apparel and new sneakers.
This week’s round-up of global markets fashion business news also features Iran’s retail crisis, Japanese department stores and China’s lacklustre May Day holiday spending.
President Donald Trump’s administration on Monday asked a US court to pause its ruling against the administration’s 10 percent global tariff while the federal government pursues an appeal.
As Saks Global emerges from bankruptcy in record time, the Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman owner has started to pay back critical vendors, rebuilt inventory and halved debt. But winning back the industry's trust is a different challenge altogether.
Saks Global chief executive Geoffroy van Raemdonck outlines his plan for reinventing the retailer’s business model and winning back the industry’s trust. Photo: inside the Saks Fifth Avenue flagship in Manhattan.
Beauty built an entire industry around Gen Alpha’s shopping frenzy. But as the legal and ethical consequences of marketing to kids come into focus, tween-focused brands face their watershed moment.
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