French-Italian eyewear giant EssilorLuxottica has strategically agreed to buy streetwear label Supreme from VF Corp. for US$1.5 billion in cash. This significant move adds the coveted brand to its portfolio, which already boasts Ray-Ban and Oakley.
This is the success story of Spritzer, a Malaysian brand that has demonstrated a remarkable journey. Spritzer surged to the forefront of the Malaysian bottled water industry, and its story is a refreshing inspiration for all.
Wendy’s, the iconic global quick-service restaurant brand based in the United States, has announced the signing of two new development agreements with franchisees in the Republic of Ireland and Romania.
The National Samsung Electronics Union (NSEU), representing workers at the South Korean tech giant Samsung Electronics, has called on its roughly 30,000 members to commence an indefinite strike as part of their campaign for better pay and benefits.
Amazon employees are expected to protest outside the firm’s warehouses in the UK in a dispute over workers’ rights. The GMB union told the BBC that it coincides with the start of a ballot in a “bid to force Amazon to recognise a union for the first time” in the country. A GMB spokesman also mentioned that the ballot’s results, which were expected on 15 July, could mean Amazon would be required to negotiate pay and conditions with them.
In a move that’s bound to spark a social media frenzy, French high-jewellery brand FRED has tapped the talents of global K-Pop superstar Kim Seok-jin, better known as Jin of BTS, as its first-ever Global Brand Ambassador.
Jollibee Foods, the Philippines’ leading fast-food chain, announced a significant move towards global dominance in the coffee market. The company is acquiring a majority stake in Compose Coffee, a South Korean coffee chain, for a total of $340 million. Jollibee Worldwide Pte, a subsidiary of Jollibee Foods, will hold the majority stake, 70% in Compose Coffee, valued at $238 million, while their affiliated Titan Fund will hold an additional 5%. The remaining 25% will be owned by private equity firm Elevation.
Faced with financial difficulties, clothing brand Esprit is reportedly close to selling its entire Greater China business, including Hong Kong and Taiwan. This move aims to raise capital and restructure operations.
Hyatt Hotels Corporation has announced that a Hyatt affiliate has acquired the “me and all hotels” brand from Lindner Hotels AG (Lindner). This move aims to expand Hyatt’s presence in new European markets and capitalise on their current success in the region.
Tata Group tops Brand Finance’s most valuable Indian brands with US$28.6 billion value, reflecting a 9 per cent increase from 2023. Brand Finance’s report also highlighted that Tata Group marks the first time an Indian brand is nearing the $30 billion mark.
A scandal has rocked HYBE, the agency managing global K-pop superstar BTS. South Korean prosecutors have charged three employees from HYBE subsidiaries with insider trading. The charges stem from allegations that these employees sold HYBE shares before the official announcement of BTS’s hiatus on June 14, 2022.
MINISO, the global lifestyle brand known for its fun, affordable, design-led products, is setting a new record for single-day sales with the grand opening of its brand-new flagship store in Paris on Saturday, June 22nd.
