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How Retro Sneakers Took Over Fashion

E.l.f. Acquires Naturium; Richard Mille's Rise

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, AUGUST 30, 2023 Retro styles continue to dominate the sneaker market, driven by nostalgia and risk-averse brands. E.l.f. is furthering its ambitions to become the next big beauty conglomerate with the $355 million purchase of skin care line Naturium. At $250,000 per timepiece, Richard Mille has become a go-to watch brand for the ultra-rich. Theory has hired Chloé executive Marco Gentile to be its CEO in the UK and Europe. Afterpay has withdrawn its sponsorship of Australian Fashion Week, which could put designers in limbo for the 2024 season.

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RETAIL How Retro Sneakers Took Over Fashion By Marc Bain

Fashion may always be chasing the next big thing, but in the sneaker market, decades-old styles dominate, which experts attribute to forces like nostalgia, the rise of hip-hop, risk-averse business strategies and a cultural obsession with recycling intellectual property. READ MORE

BEAUTY E.l.f. Acquires Naturium in $355 Million Bet on Skin Care By Priya Rao

The purchase of the high-growth indie label marks the company's first M&A deal since 2020. READ MORE

LUXURY How Richard Mille Became the Cult Watch Brand of the Ultra-Rich By Bloomberg The timepieces priced above $250,000 signal a very specific kind of status. READ MORE

Temu-Owner PDD Soars After Strong Sales Defy Chinese Gloom READ MORE

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NEWS BRIEFS US States Ask SEC to Check if Shein Complies With Forced Labor Rules Brunello Cucinelli Lifts Full Year Sales Guidance Once Again Theory Taps Chloé Executive as New Europe CEO Afterpay Pulls Out as Sponsor of Australian Fashion Week

BoF CAREERS

Neiman Marcus is Hiring Opportunities at Neiman Marcus include a Shoot Coordinator based at their Headquarters in Dallas. As well as an Assistant Buyer (Women's Shoes), a Marketing Manager, a Women's Tailor Fitter and a Visual Merchandiser (Men's) in New York, among others. Founded in 1907, the Neiman Marcus Group consists of the department store brands Neiman Marcus and Bergdorf Goodman. With a team of over 9,000 associates, NMG has a majority female-led leadership team and over 37 Neiman Marcus stores as well as an online presence. VIEW JOBS

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