Iconic New York department store, Barneys, is set to close after filing for bankrupcy.According to reports, the luxury chain has suffered at the hands of rising rents and low footfall in recent years. Business of Fashion has reveled it listed liabilities of between US$100 million and US$500 million following several weeks of attempts to find a new partner or buyer.
P&G and Unilever dominate Australian shampoo market; L’Oréal first half sales reach a record US$16.5 billion; beauty and grooming key drivers in P&G’s 2019 sales of US$67.7 billion; and beauty and personal care sales in Western Europe to reach US$111.7 billion.
Private equity firm buys Dr Scholl's for US$585 million; Givaudan acquires Drom to expand global fragrance presence; LVMH's revenues jump 15 per cent in first half of 2019; and sensitive skin a major issue in China.
