Balenciaga Appoints Pierpaolo Piccioli & Nike Announces US Price Hikes in This Week's Top Fashion News
On May 19, former Valentino designerPierpaolo Piccioliwas officially namedBalenciaga's new creative director. Set to begin his role on July 10, the designer's debut collection for theKering-owned brand will be revealed later in October. In a statement, Piccioli said, 'Balenciaga is what it is today thanks to all the people who have paved the way. In all its phases, while constantly evolving and changing, it has never lost track of the House's aesthetic values. What I am receiving is a brand full of possibilities that is incredibly fascinating.' In March of last year, Piccioli left Valentino after 25 years at the Italian fashion house, making his Fall 2024 collection his final output for Valentino. The design is poised to replaceDemna, who's set to reveal his final couture collection for Balenciaga this July before heading toGucci.
Nikewill be raising its retail prices in the US come June, later, increasing wholesale prices in July, according to a new report from Complex. Nike's retail partners were said to have been informed about the news earlier in the week, as the company now joins industry leaders reshaping their pricing strategy in the face of tariff uncertainties. The retail price adjustments are noted as ranging from $2 USD to $10 USD, with exclusions in place for 'Jordan apparel and accessories, all kids' footwear and apparel, and all footwear under $100,' and Air Force 1s, according to Complex's report. With Nike's fiscal year concluding on May 31, the updated pricing strategy is set to debut with its new fiscal year starting on June 1.
For the first time since 2020,Chanel's sales have slipped 4.3% to $18.7 billion USD, and operating profits declined 30% to $4.5 billion USD in fiscal year 2025. Additionally, the French luxury company saw. In response, Chanel is re-evaluating the price hikes it recently implemented, specifically on its classic handbags. CFO Philippe Blondiaux shared that despite the decline in sales Chanel remains healthy as it gears up for a rebrand under the artistic direction of Blazy. Blondiaux shared more, saying, 'The average pricing effect we had for fashion was 3% last year, which I'm sure you will agree was perfectly in line with global inflation, if not less than that. We intend to maintain more or less the same policy, which is to monitor our prices in line with global inflation in 2025.'
In a new partnership withGentle MonsterandWarby Parker, Google is pushing its AI Smart Eyewear expansion with a design-forward twist, as revealed at its I/O 2025 conference. Shahram Izadi, General Manager and Vice President, Google XR, highlighted the sophistication and essential design features of both brands as it readies its revamped Android XR products. The announcement rivals Meta's smart glasses partnership with Ray-Ban, which has grown in popularity. As of the time of writing, Google has not confirmed release dates or price points for future releases with Warby Parker and Gentle Monster.
Lemairehas opened its first boutique in China, located in Chengdu's Taikoo Li district. Blending contemporary tranquility and cultural heritage, F.O.G. Architecture designed a 140-square-meter space. The entryway, adorned with potted plants housed in traditional Sichuan sauce jars, echoes the under-eaves spaces of classical Chinese architecture, offering visitors a ritualistic passage into the store's immersive environment. With local bamboo serving as a recurring motif throughout the space, the store boasts bamboo flooring and curtains, and stone textures that mimic woven bamboo. Finally, traditional Sichuan crafts are thoughtfully integrated, showcasing collaborative efforts between the architects, local artists, and regional artisans.
VF Corporation, parent toThe North Face,Vans, andTimberland, shared its fourth quarter fiscal 2025 financial report this week, indicating that its net revenue for the quarter dipped to $2.1 billion USD. In response, VFC's share price went from closing at $14.43 USD on Tuesday to closing at $12.15 USD today, a 15.80% drop in value. However, The North Face brought in $834.5 million USD, a 2% increase from its numbers at this time last year, and Timberland reported a 10% increase to $376 million USD in net revenue. Vans and Dickies, are the culprit of the conglomerate's losses, with the former declining 22% to $492.6 million USD and the latter dropping 14% to a total of $139.3 million USD in net revenue. Moving forward, VF Corp has identified that it is well-positioned to handle the turbulence of tariffs with accelerated distribution during the 90-day pause, optimizing sourcing, and more strategies.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
an hour ago
- Business Wire
Ermenegildo Zegna Group Announces Partnership With Temasek to Support Global Growth Journey. The Investment Firm Will Hold a 10% Stake in the Italian Luxury Group.
MILAN--(BUSINESS WIRE)--Ermenegildo Zegna N.V. (NYSE:ZGN) (the 'Company' and, together with its consolidated subsidiaries, the 'Ermenegildo Zegna Group' or the 'Group') and Venezio Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited ('Temasek') today announced an agreement under which the Singapore-headquartered investment company will invest in the Italian luxury Group. Temasek has agreed to purchase 14,121,062 in the Company treasury shares, at a price of $8.95 per share (the 'Transaction'), in line with the volume-weighted average of ZGN shares' prices over the period from June 30 to July 25, 2025. Temasek has previously acquired 12,699,981 ordinary shares of the Company through market purchases which, together with the shares to be acquired in the Transaction, will represent a 10% stake in the Company's ordinary share capital outstanding after conclusion of the Transaction. Ermenegildo 'Gildo' Zegna, Chairman and CEO of the Ermenegildo Zegna Group, commented: 'I am delighted to welcome Temasek as a strategic investor in our Group's shareholder base. Their investment is a strong endorsement of our vision and long-term growth potential, while firmly recognizing the global significance of the Italian luxury sector. With Temasek's partnership, we are even better positioned to help strengthen our organic expansion globally and to reinforce our unique role as a custodian of truly authentic brands.' Nagi Hamiyeh, Head of EMEA of Temasek commented: 'Ermenegildo Zegna Group has successfully established itself in the high-end luxury segment and presents significant long-term value creation opportunities across each brand. Our investment in them underscores our ongoing commitment to support leading European businesses with strong track records and global potential. We look forward to being a thoughtful, long-term partner to the Zegna family and management team, empowering them to execute on their growth strategy and supporting their vision to elevate their iconic brands and global footprint.' Upon the closing of the Transaction, Ermenegildo Zegna Group will receive a total cash consideration of $126.4m. The Transaction will reinforce the Group's balance sheet at a time when management is well-positioned to capitalize on the strong momentum of its brands. The enhanced financial flexibility will allow the Group to carefully seize selected opportunities for accelerating the organic growth of the current brand portfolio. Temasek wealth of experience in the luxury sector and deep knowledge of the Asian market will contribute to the Ermenegildo Zegna Group growth prospects and support the expansion in key geographies where the Group's presence remains underdeveloped. Nagi Hamiyeh, Head of EMEA of Temasek, is expected to join the Group's Board of Directors in June 2026. The Transaction is expected to close by July 30th, 2025. Ermenegildo Zegna Group has been assisted by UBS AG and Sullivan & Cromwell LLP as financial advisor and legal counsel, respectively. About Ermenegildo Zegna Group Founded in 1910 in Trivero, Italy, the Ermenegildo Zegna Group (NYSE:ZGN) is a global luxury company with a leading position in the high-end menswear business. Through its three complementary brands, the Group reaches a wide range of communities and market segments across the high-end fashion industry, from ZEGNA's timeless luxury to the modern tailoring of Thom Browne, to seductive elegance with TOM FORD FASHION. The Ermenegildo Zegna Group is internationally recognized for its unique Filiera, owned and controlled by the Group, which is made up of the finest Italian textile producers fully integrated with unique luxury manufacturing capabilities, to ensure superior excellence, quality and innovation capacity. The Ermenegildo Zegna Group has more than 7,100 employees and recorded revenues of €1.95 billion in 2024. About Temasek Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$434 billion (€299b) as at 31 March 2025. Its Purpose 'So Every Generation Prospers' guides it to make a difference for today's and future generations. Temasek seeks to build a resilient and forward-looking portfolio that will deliver sustainable returns over the long term. It has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia. Forward Looking Statements This communication contains forward-looking statements that are based on beliefs and assumptions and on information currently available to the Company. In particular, statements regarding future financial performance and the Group's expectations as to the achievement of certain targeted metrics at any future date or for any future period are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing,' 'target,' 'seek', 'aspire,' 'goal,' 'outlook,' 'guidance,' 'forecast,' 'prospect' or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements, and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the recognition, integrity and reputation of our brands; our ability to anticipate trends and to identify and respond to new and changing consumer preference; pandemics or other public health crises; international business, regulatory, social and political risks; political instability, events or conflicts (including armed conflicts, such as the war in Ukraine and the conflict in the Middle East, and sanctions imposed onto Russia); the occurrence of acts of terrorism or similar events, conflicts or civil unrest; developments in Greater China and other growth and emerging markets; existing or future disputes, proceedings or litigation; future sales of our securities in the public market; our ability to maintain compliance with applicable listing standards; volatility in our share price; sanctions 'trade wars'; our ability to implement our strategy; recent and potential future acquisitions; disruption to our manufacturing and logistics facilities; risks related to the sale of our products through our direct-to-consumer channel, as well as through points of sale operated by third parties , including credit risks; our dependence on our local partners to sell our products in certain markets; fluctuations in the price or quality of, or disruptions in the availability of, raw materials; our ability to negotiate, maintain or renew our license or co-branding agreements with high end third party brands; tourist traffic and demand; our dependence on certain key senior personnel as well as skilled personnel; our ability to protect our intellectual property rights; any malfunction or disruption in our information technology and networks, including as a result of cybercrime; any impact of a possible cybersecurity breach, the theft or unauthorized use of personal information of our customers, employees or other parties; fluctuations in currency exchange rates or interest rates; the level of competition in the industry in which we operate; global political conditions, economic conditions and macro events, including inflation; changes in, or failures to comply with, applicable laws and regulations, or actions taken by regulatory authorities; climate change and other environmental impacts and our ability to meet our customers' and other stakeholders' expectations on environment, social and governance matters; the enactment of tax reforms or other changes in tax laws and regulations; accidents or the occurrence of other unexpected events and any other factors, risks and uncertainties, including those described in our filings with the SEC. Most of these factors are outside the Company's control and are difficult to predict. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company and its directors, officers or employees or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this communication represent the views of the Company as of the date of this communication. Subsequent events, factors and developments may cause that view to change, and it is not possible to assess the impact of such event, factor or development on the Company's and the Group's business. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company disclaims any obligation to update or revise publicly forward-looking statements. You should, therefore, not rely on these forward-looking statements as representing the views of the Company as of any date subsequent to the date of this communication.
Business Upturn
an hour ago
- Business Upturn
Industrial Coatings Market worth $142.35 billion by 2030, at a CAGR of 4.12%, says MarketsandMarkets™
By GlobeNewswire Published on July 29, 2025, 16:30 IST Delray Beach, FL, July 29, 2025 (GLOBE NEWSWIRE) — The Industrial Coatings Market is estimated to grow from USD 112.04 billion in 2024 to USD 142.35 billion by 2030, at a CAGR of 4.12% between 2025 and 2030, as per the recent study by MarketsandMarkets™. Solvent-borne coatings are reliable and can be used in a variety of demanding applications, making up the largest market segment in the world of industrial coatings. Their resilience and strong adhesion lead people to depend on them for automotive, machinery, and building projects. However, increasing environmental regulations, concerns about VOC emissions, and a growing need for sustainability are transforming market dynamics. As a result, powder coatings and waterborne coatings are rapidly gaining popularity due to their environmentally friendly properties, being almost VOC-free, and the advancement of application technologies. More people are opting for these alternatives in both developed and emerging markets, primarily where the focus is on complying with environmental regulations and ensuring safety during operations. Download PDF Brochure: Browse in-depth TOC on 'Industrial Coatings Market' 386 – Market Data Tables 60 – Figures 345 – Pages List of Key Players in Industrial Coatings Market: The Sherwin-Willaims Company (US) PPG Industries Inc. (US) AkzoNobel N.V. (Netherlands) Axalta Coating Systems LLC (US) Jotun A/S (Norway) Nippon Paint Holdings Co., Ltd. (Japan) Kansai Paint Co., Ltd. (Japan) RPM International Inc. (US) Hempel A/S (Denmark) BASF Coatings GmbH (Germany) Drivers, Opportunities and Challenges in Industrial Coatings Market: Drivers: Increasing demand from automotive industry Restraint: luctuating raw material prices Opportunity: Increasing use of nanocoatings Challenge: Stringent regulatory policies Get Sample Pages: Key Findings of the Study: Epoxy resin is projected to be the fastest-growing resin type in terms of value during the forecast period The waterborne technology segment accounted for the second-largest share of the global industrial coatings market, in terms of value, in 2024 The automotive OEM end-use industry accounted for the second-largest share of the global industrial coatings market, in terms of value, in 2024 Asia Pacific is projected to be the fastest-growing region in the global industrial coatings market, in terms of value, during the forecast period Based on resin type, epoxy resins are estimated to hold the largest market share in the industrial coatings market, primarily because they perform better and cost more than the other resins available today. It is common to find epoxy coatings in marine, oil & gas, automotive, and infrastructure settings because they adhere well, resist chemicals, possess high strength, and are quite durable. Their ability to last significantly longer against wear and rust justifies the higher cost of high-alloy superalloys in specialized fields. Epoxy resins are favored in the industrial coatings industry mainly because they offer useful features and are marketed at premium prices. Based on technology, powder coatings are estimated to witness the highest growth rate in the industrial coatings market during the forecast period due to various technological factors. Powder coatings do not pollute the air, emit high levels of VOCs, and can last a long time without becoming damaged or worn out. With stringent regulations on emission control and an increased emphasis on sustainability, the use of powder coatings is on the rise in the automotive, appliance, and industrial sectors. Furthermore, recent advancements in application processes and their broader use across several industries are driving the global demand for powder coatings. Based on the end-use industry, the general industrial category accounted for the largest share of the industrial coatings market. The reason for this dominance is that many types of machinery, equipment, metal fabrication, and consumer goods require durable and protective coatings. This area benefits from consistent demand in both affluent and developing countries due to ongoing advancements in industry and construction production. Being used in many industries and constantly requiring upkeep and finishes, general industrial is the biggest and most dependable part of the market. Get Customization on this Report: Based on region, Asia Pacific accounted for the largest share of the industrial coatings market in terms of value in 2024. Market growth in this region is primarily driven by rapid industrialization and rising investments in the industrial and automotive industries. The growing manufacturing base of the region, enhanced safety levels, and evolving demand for high-performance and dependable machines among emerging markets like China, India, and Southeast Asian nations are also fueling market growth. Additionally, the presence of major industrial bases, a large population, and ongoing capacity expansions across key industries continue to underscore Asia Pacific's leading position in the world's industrial coatings market. PPG Industries Inc. is one of the world's leading suppliers of paints, coatings, and specialty materials, boasting a strong market presence with 156 manufacturing facilities across many countries in Europe, North America, Asia Pacific, the Middle East & Africa, and South America. PPG Industries provides a wide variety of coating solutions for aerospace, automotive OEM and refinish, industrial, packaging, marine, and architectural markets. The company has strengthened its product portfolio through sustained innovation and sustainable practices that emphasize waterborne coatings for environmental friendliness applications. AkzoNobel N.V. is one of the leading global industrial coatings companies based in the Netherlands, serving customers in over 150 countries. Its diverse portfolio includes decorative paints and high-performance coatings for key industries such as marine, automotive, architecture, and industrial manufacturing. The company has made significant strides in developing responsible and sustainable coating technologies, with a strong emphasis on waterborne and low-VOC formulations. Browse Adjacent Markets Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting Related Reports: Hospital Filtration Market Industrial Fasteners Market Gold Nanoparticles Market Hydrogen Tanks Market Flat Glass Market Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
an hour ago
- Yahoo
Novo Nordisk lowers sales and operating profit outlook for 2025
Bagsværd, Denmark, 29 July 2025 – Novo Nordisk today announced sales and operating profit growth at constant exchange rates (CER) for the first six months of 2025 and updated full-year sales and operating profit outlook at CER. In the first six months of 2025, Novo Nordisk's sales increased by 18% and operating profit increased by 29%, both at CER. Sales growth in the first six months of 2025 was positively impacted by gross-to-net sales adjustments related to prior years, including an adjustment related to the 340B provision of around DKK 3 billion in the second quarter of 2025. Operating profit growth is positively impacted by the ocedurenone impairment in the second quarter of 2024, partially countered by impacts related to the acquisition of the three Catalent manufacturing sites. Profit and loss Second quarter 2025 First six months 2025 Sales growth (CER) 18% 18% Operating profit growth (EBIT) (CER) 40% 29% Diluted earnings per share (in DKK) 5.96 12.49 Novo Nordisk has updated the full-year outlook for 2025, with sales growth now expected to be 8-14% and operating profit growth expected to be 10-16%, both at CER. Sales and operating profit growth reported in Danish kroner is now expected to be 4 and 7 percentage points lower than at CER, respectively, primarily due to depreciation of the USD/DKK exchange rate1. Outlook 2025 (CER) Expectations 29 July Expectations 7 May Sales growth 8-14% 13-21% Operating profit growth (EBIT) 10-16% 16-24% The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025. This is related to lower growth expectations for Wegovy® in the US obesity market, lower growth expectations for Ozempic® in the US GLP-1 diabetes market, as well as lower-than-expected penetration for Wegovy® in select IO markets. For Wegovy® in the US, the sales outlook reflects the persistent use of compounded GLP-1s, slower-than-expected market expansion and competition. Despite the expiry of the FDA grace period for mass compounding on 22 May 2025, Novo Nordisk market research shows that unsafe and unlawful mass compounding has continued, and that multiple entities continue to market and sell compounded GLP-1s under the false guise of 'personalisation'. Novo Nordisk is pursuing multiple strategies, including litigation, to protect patients from knockoff 'semaglutide' drugs. Novo Nordisk is deeply concerned that, without aggressive intervention by federal and state regulators and law enforcement, patients will continue to be exposed to the significant risks posed by knockoff 'semaglutide' drugs made with illicit or inauthentic foreign active pharmaceutical ingredients. As unsafe and unlawful mass compounding continues, the Wegovy® penetration within the cash channel has been lower-than-expected. Within this channel, NovoCare® Pharmacy was launched in March 2025. Wegovy® prescriptions via NovoCare® Pharmacy (including TeleHealth collaborations) amount to around 11,000 total weekly prescriptions, in addition to around 20,000 weekly prescriptions in the retail cash channel. Novo Nordisk will continue to invest in the expansion of direct-to-patient initiatives such as NovoCare® Pharmacy and further collaborations with telehealth organisations. Within the insured channel, despite the initiation of new commercial activities of Wegovy® in the first half of 2025, the sales outlook also reflects lower-than-expected penetration for Wegovy®, mainly due to slower market expansion and competition. Novo Nordisk continues to engage in additional commercial initiatives and expects a regulatory decision around the Wegovy® MASH indication during the second half of 2025. Moreover, Novo Nordisk continues to expect a positive contribution from changes to the CVS national template formulary effective 1 July 2025, where Wegovy® is now the only GLP-1 medicine covered for obesity. For Ozempic®, the updated outlook is negatively impacted by competition in the US. Novo Nordisk continues to invest in commercial activities and label updates towards driving further market penetration of Ozempic®. Finally, while IO Wegovy® sales are growing at high rates and launches are progressing, the sales outlook reflects lower-than-expected penetration for Wegovy® in select IO markets due to slower market expansion and competition. With around 1 billion people living with obesity globally and only a few million on treatment, the outlook reflects a continued global rollout of Wegovy® to more markets. The updated expectation for operating profit growth reflects the lower sales growth outlook, partially countered by reduced spending. A negative mid-single-digit operating profit growth impact related to the acquisition of the three former Catalent manufacturing sites remains included in the guidance. Novo Nordisk now expects financial items (net) for 2025 to amount to a gain of around DKK 3 billion. This is mainly driven by expected gains on hedged currencies, primarily the US dollar, partially offset by interest expenses related to funding of the debt-financed Catalent transaction. Finally, the free cash flow is now expected to be DKK 35-45 billion, reflecting the lower-than-planned expected sales growth, mainly driven by lower volume growth of GLP-1-based treatments in the US and related cash flow implications amplified by the US gross-to-net system. Novo Nordisk's full disclosure of the financial results for the first six months of 2025 will be published on 6 August 2025, where more information will be available. The above expectations are based on additional assumptions, including assumptions described on pages 14 and 15 of the Financial report for the first three months of 2025 (Company Announcement No 14/2025). The forward-looking statements on page 23 in the Financial report for the first three months of 2025 (Company Announcement No 14/2025) also apply to this company announcement. Conference call Novo Nordisk will host a conference call for investors at 14.30 CEST on 29 July 2025, corresponding to 8.30 am EST. For more information on how to listen, please visit the investor section of About Novo Nordisk Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 77,400 people in 80 countries and markets its products in around 170 countries. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit Facebook, Instagram, X, LinkedIn and YouTube. Contacts for further information Media: Ambre James-Brown +45 3079 9289abmo@ Liz Skrbkova (US)+1 609 917 0632lzsk@ Investors: Jacob Martin Wiborg Rode +45 3075 5956 jrde@ Sina Meyer +45 3079 6656 azey@ Max Ung +45 3077 6414 mxun@ Frederik Taylor Pitter (US)+1 609 613 0568 fptr@ Publication of inside information pursuant to Market Abuse Regulation, Article 17 1 Based on exchange rates of 23 July 2025 with e.g. a USD/DKK spot rate of 635. Full currency overview to be released as part of Novo Nordisk's full disclosure of the financial results on 6 August 2025 Company announcement No 18 / 2025 Attachment CA250729-Q2-Financial-Outlook
