The News In Brief

Amazon is reportedly implementing strict price caps for a new low-cost storefront, limiting items like jewellery to $8 and guitars to $13, in an effort to compete with discount rivals such as Temu and Shein.

The North Asia region, dominated by China, accounts for a quarter of group sales, but persistently weak demand in the world’s No. 2 economy has curbed consumer spending.

The Italian menswear group was heavily impacted by a 22% revenue drop in Greater China. Sales at the Zegna brand grew slightly while Thom Browne and Tom Ford posted double-digit declines.

Jeffries was arrested with his British partner, Matthew Smith, and a third man, Jim Jacobson, as authorities investigate allegations that the men sexually exploited and abused young men.

Geopolitical disruptions and a growing glut of low-value ultra-fast fashion are creating an unsustainable market dynamic, even as regulators are pushing to tackle clothing waste, according to two major lobby groups.

The European fragrance licensee beat analyst expectations in its third-quarter earnings, with sales lifting to $425 million.

Chanel is set to sponsor the annual rowing competition between Oxford and Cambridge universities.

The fund, Venrex BBCo I, will make investments of around $130,000 to $1.3 million in a variety of consumer and B2B beauty businesses.

The former Victoria Beckham chief executive will succeed Adrien Da Maia, who led the Space Age brand’s turnaround with designer Nicolas Di Felice.

The Kering flagship will show its 2026 Cruise collection in the Italian city where Gucci was founded, amid a push to reconnect the label with its heritage story and elevate its image.

The country’s booming second-hand luxury market is deepening concerns for the likes of LVMH as rising prices and a weakening economy push shoppers to seek cheaper alternatives.

The investment was led by Praetura Equity Finance, a Manchester-based fund dedicated to British businesses.