Written By LE BOOK
HIGHLIGHTS
ECONOMY
Burberry, the iconic British luxury brand, is facing deepening business challenges. The company recently announced plans to cut up to 1,700 jobs, nearly 20% of its global workforce, by 2027. This drastic measure is part of a broader turnaround strategy aimed at saving approximately £60 million (around $80 million) in costs, following a significant drop in financial performance.
RETAIL
Saks Global’s $2.2 billion bond, issued to finance its high-profile acquisition of Neiman Marcus, has already lost $1 billion in market value, even before its first interest payment. Initially sold at par in December 2024 with an 11% coupon, and backed by heavyweight investors such as Amazon and Salesforce, the bond quickly plunged to distressed levels on the market.
COMMUNICATION
The Independents’ expansion shows no signs of slowing. Less than a month after acquiring New York-based design studio 2x4, the communications and events group, founded in 2017 by Karla Otto and K2, has announced another acquisition: Terminal 9 Studios, a Paris-based television production company launched in 2013.
AMBASSADOR
Jenna Ortega has been named Dior Beauty’s new international makeup ambassador. At just 22, the American actress perfectly captures the fresh, modern spirit the brand seeks to express under the creative direction of Peter Philips. This move signals Dior’s intent to engage a younger, more diverse audience while strengthening its position in the luxury beauty space.
A FEW UPDATES
Balenciaga has named Nathalie Raynaud as its new Deputy CEO.
Jacquemus lands in Ibiza with a pop-up store and beach club experience.
Skims will open its first UK flagship on London’s Regent Street in 2026.
Bruno Pavlovsky, President of Fashion at Chanel, has been awarded the French National Order of Merit by President Emmanuel Macron, with Matthieu Blazy, Chanel’s new artistic director, in attendance.
Dior has selected Villa Albani Torlonia in Rome as the location for its 2026 Cruise Show.
Nicola Formichetti has been appointed MAC Cosmetics’ new Global Creative Director.