Currently reviewing the possibility of a sale, Revlon announced declining revenues and widening losses for Q3 on Friday, as weaknesses in its North American business took their toll on the company’s top line.
A South Korean boycott of Japanese goods is seen dragging down sales at Fast Retailing Co Ltd’s Uniqlo stores, denting otherwise strong financial results due to be announced on Thursday, analysts said.
Clemenza, ex-general manager of Krizia and a strategic pick by private equity firm Armònia SGR, in control of the label since 2017, is tasked with stepping up the pace of its structuring and commercial development.
Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the $460bn firm when the market for its core e-tail business has slowed.
Following the announcement earlier this month that the cosmetics company would be exploring its options, Revlon is reportedly planning to approach potential bidders after the Labor Day holiday in September.
The new funding comes from investors including Jay-Z’s venture firm Marcy Venture Partners and growth-equity firm Avenir Growth Capital, bringing the brand’s total amount of backing to approximately $70 million.
Warren Buffett’s Berkshire Hathaway on Wednesday said it boosted its stake in Amazon.com by 11% during the second quarter, increasing its bet on the powerful online retailer even as stocks traded near record highs.