International News

Anglo American's diamond specialist De Beers has bought the 50 per cent stake held by French luxury goods group LVMH in De Beers Diamond Jewellers for an undisclosed sum, taking full ownership of the retail operation. "More fully integrating the...

Starbucks, the coffee giant, unveiled its plans on Wednesday to create 240,000 new jobs, with 68,000 of those being in the US. The company announced its plans for a hiring spree at its annual shareholders meeting. The announcement comes as Starbucks...

French luxury group LVMH said on Monday that it has purchased a majority share in the house created in 2009 by perfumer Francis Kurkdjian and Marc Chaya. However, the financial terms of the deal have not yet been disclosed. The company...

More than 2,000 restaurants in Shanghai have installed see-through kitchens in a bid to improve food safety, a media report said. In these restaurants, a piece of glass separates the kitchen from the dining area so that both diners and...

Struggling department store chain JCPenney is closing down 138 stores and two distribution centers in the US in a move to cut costs, boost sales at stronger locations and focus on e-commerce. About 5,000 workers will be impacted by the...

Guess's fourth-quarter results fell short of what the company had hoped to see, with revenue up with a 3 per cent gain to $679.3 million, slightly less than the 4 per cent growth rate that investors had projected. Similarly, adjusted net income...

Walmart, on behalf of Jet.com, has acquired online retailer ModCloth, best known for its vintage-inspired clothing. Walmart had acquired Jet.com The 15-year-old brand is known for its quirky, indie-inflected collection of clothes. ModCloth was founded by high school sweethearts Susan Gregg...

Swedish fashion retailer H&M has reported that total sales rose by 3 per cent year-over-year in local currencies in February 2017. This compares to year-over-year sales growth of 8 per cent in January. Sales in February were negatively impacted by...

James Gager, is resigning from his post of creative director for M.A.C. Cosmetics - a position he has held for 17 years. He will be succeeded by Toni Lakis, his long-time second in command. Gager has been part of the Estée Lauder Group...

New permit documents - revealed by Geekwire - show that e-commerce behemoth Amazon is planning to open several drive-up grocery locations in the US soon, starting with Seattle. The project, called AmazonFresh Pickup, is the next phase in the online giant’s physical...

Barely a year after British retailer Marks & Spencer opened its 10th store in the country, it is pulling out of China in March. The fashion retailer has already shut down seven of its 10 stores in the Chinese mainland. The exit...

US President Donald Trump's oldest daughter Ivanka Trump will shut down her brand's fine jewellery line, media reports said. According to the President of Ivanka's brand Abigail Klem, brand has discontinued its line of high-end bracelets, necklaces and rings. Instead,...

Retail trade in China began 2017 with a cumulative increase of 9.5 per cent between January and February -- as compared to the same period in 2016 -- which is below economists' expectations of 10.5 percent and also its...

Every year, leading valuation and strategy consultancy Brand Finance values the brands of thousands of the world’s biggest companies. Brands are first evaluated to determine their power/ strength (based on factors such as marketing investment, familiarity, loyalty, staff satisfaction...