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MTV Lebanon
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Australian legislator urges government to recognise Palestinian statehood
Ed Husic, a federal member of parliament from the governing Labour Party, has urged the Australian government to recognise the state of Palestine. In an op-ed published in the Guardian Australia, Husic hailed France's plan to recognise Palestinian statehood and wrote: 'This is the moment for our nation to take a similar stand.' 'The fact that only over the weekend the Netanyahu government is allowing 'minimal' aid into the territory demonstrates that the actions of the French government mattered, they made a difference,' added the lawmaker, who was until recently a minister in the Australian Labor government. Husic's article comes after Prime Minister Anthony Albanese said Australia is not planning to 'imminently' recognise Palestinian statehood, even as he acknowledged that Israel is 'quite clearly' breaching international law by stopping food from reaching Gaza.
Time of India
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LVMH said to be in talks to offload fashion label Marc Jacobs
French luxury goods group LVMH is in discussions with multiple buyers to offload its fashion label Marc Jacobs , people familiar with the matter told Reuters on Friday. The Bernard Arnault-led company has been holding talks with potential buyers including Reebok-owner Authentic Brands Group and WHP Global , the sources said, who asked not to be named because the discussions are confidential. Authentic Brands declined to comment on the matter while WHP did not immediately respond. Brookstone's owner Bluestar Alliance is also a suitor for Marc Jacobs, which could be worth around $1 billion, according to the Wall Street Journal, which earlier reported the news. LVMH, Marc Jacobs and Bluestar Alliance did not immediately respond to requests for comments on the WSJ report. In 2024, Bloomberg reported that LVMH was exploring strategic options for the label with advisers after receiving interest from potential buyers, though the company denied the claim at the time. Founded in 1984 by American designer Marc Jacobs, the luxury fashion brand is renowned for its eclectic, bold designs that blend high fashion with street style. In 1997, LVMH tapped Jacobs to lead the Louis Vuitton brand and acquired a stake in the designer's eponymous label. The Journal said that a deal could be finalized soon, provided talks do not fall apart. LVMH has recently been offloading some of its brands to streamline its portfolio. Last year, it sold the Off-White clothing brand, founded in 2012 by the late Virgil Abloh, to New York-based company Bluestar Alliance for an undisclosed value. Another label, Stella McCartney, earlier this year, repurchased the minority stake held by LVMH in the house she founded about five years after the luxury group bought it. McCartney, who famously does not use leather or fur, said it will continue to advise LVMH chief Arnault and the group's executive team on sustainability matters. Dealmaking in the luxury retail sector has drawn attention in Europe. Earlier this year, Prada acquired Versace from Capri Holdings, combining two iconic Italian fashion brands in a $1.4 billion deal. LVMH's second-quarter sales, which include products such as Louis Vuitton handbags, Dior dresses and Moet & Chandon champagne, came in slightly below market expectations. The company's shares rose with analysts pointing to hopes on the horizon as the group said it saw some signs of recovery in the key Chinese market. Deutsche Bank analyst Adam Cochrane said that while the second-quarter results were not "stellar," there were some "glimmers of hope." French luxury brands have been navigating prolonged market challenges, including a downturn and the potential impact of U.S. import tariffs.
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Pernod Ricard Korea names company veteran as new CEO
Pernod Ricard Korea, the local unit of the French spirits giant, announced Monday the appointment of Fadil Tasgin as its new CEO, bringing on a company veteran who most recently oversaw key growth markets in Asia. With over three decades of experience in the consumer goods and beverage industries, Tasgin pledged to enhance brand experiences and strengthen Pernod Ricard Korea's market position, while maintaining a strong focus on consumer-centric marketing. 'I am well aware of the Korean market's tremendous potential, as well as the high expectations of its consumers,' Tasgin said. 'With a strong portfolio of premium and prestige brands, we look to drive long-term growth by meeting evolving consumer preferences." Since joining Pernod Ricard in 2012 as head of sales in Turkey, Tasgin has taken on a series of international leadership roles. These include CEO of Pernod Ricard Austria in 2019, CEO of Pernod Ricard Philippines in 2021, and, most recently, CEO overseeing both the Philippines and Indonesia. In his new role, effective this September, Tasgin will relocate to Seoul and oversee both internal and external operations for the Korean unit. Tasgin began his career at Unilever, where he held several senior roles in Turkey. He later joined Danone, spending eight years leading national sales operations, trade marketing and business development.
