Unpacking Tapestry’s $8.5 Billion Mega-Merger With Capri

Amyris to Sell Celebrity Beauty Brands; Ralph Lauren Sales Disappoint; Farfetch Exits Beauty

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WHAT YOU NEED TO KNOW TODAY: FRIDAY, AUGUST 11, 2023 Tapestry's Capri acquisition vaults it to the top of American fashion groups, and creates something new to the industry: an accessible luxury giant. Art more than science is the key to winning consumer attention, argues Doug Stephens. Amyris filed for bankruptcy and said it would sell its beauty brands, including Biossance and Jonathan Van Ness' JVN. Ralph Lauren predicted soft sales ahead as demand slumps in North America. Farfetch is exiting beauty, just over a year after making a high-profile push into the category.

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LUXURY Tapestry and Capri's $8.5 Billion Mega-Merger, Explained By Cathaleen Chen

By putting Coach, Michael Kors, Versace and other brands under one roof, the combined company instantly vaults to the top of US fashion groups and creates something genuinely new in the industry: an American accessible luxury giant. READ MORE

RETAIL How to Win in Retail: Less Science, More Art By Doug Stephens

After two decades of investing in the science of retail, it's time for the industry to better balance technology solutions with a deeper understanding of art, writes Doug Stephens. READ MORE

BEAUTY What Went Wrong at Amyris? By Priya Rao

The manufacturer-turned-incubator has filed for Chapter 11 bankruptcy and put its consumer businesses, including lines from Jonathan Van Ness and Rosie Huntington-Whiteley, up for sale. READ MORE

BEAUTY Farfetch to Close Beauty Division By Malique Morris The luxury marketplace had hoped to take a "leading position" in the space when it launched cosmetics, skin care and hair care in April 2022 but found it harder than expected to attract shoppers. READ MORE

Ralph Lauren Sees Muted Q2 Sales as US Market Loses Steam READ MORE

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NEWS BRIEFS Biotech Firm Amyris Files for Bankruptcy in US LVMH Tops $22 Billion Luxury Rally as China Lifts Travel Ban Amazon Scraps Private Label Brands to Cut Costs, Address Antitrust Scrutiny US Inflation Cooling as Consumer Prices Rise Moderately Again

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The Estée Lauder Companies' New Incubation Ventures Seeks the Next Generation of Beauty Talent in India India's beauty and personal care market is expected to grow from $16.5 billion in 2023 to $18.4 billion by 2026, according to Euromonitor International — an increase of 11.5 percent and "an exciting opportunity for the global beauty ecosystem," says Shana Randhava, The Estée Lauder Companies' senior vice president of New Incubation Ventures.  The Estée Lauder Companies' New Incubation Ventures expands the scope and scale of the second edition of the Beauty & You India Awards programme to celebrate the significant contributions of the beauty ecosystem and to continue its mission to discover, spotlight and propel the next generation of Indian beauty. Randhava shares insight into what to expect. READ MORE

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