Retail

Bloomberg Mousse Partners, the family office for one of the world’s largest fortunes, is reshaping one of its biggest bets. The investment firm for the family behind luxury brand Chanel has sold most of its stake in Ulta Beauty Inc, an investment held for at least 14 years that’s returned more than 1,700%. Since late March, the firm that manages …

Bloomberg Kroger Co is diving into drone delivery, starting a pilot at a store near its Cincinnati headquarters. The supermarket chain is partnering with Drone Express, a unit of Telegrid Technologies, to deliver groceries from a store in Centerville, Ohio, later this spring, the companies said in a statement. The technology allows for deliveries of up to five pounds to …

Bloomberg Amazon.com Inc will supplant Walmart Inc as the biggest US retailer by 2025, according to a new report, suggesting the e-commerce giant has too much momentum for Walmart to stop despite big investments in its own e-commerce offerings. By 2025, US shoppers will buy $632 billion worth of products at Amazon and retail afflilites including Whole Foods Market, surpassing …

Bloomberg Fosun Group and an arm of JD.com Inc are among suitors considering investing in domestic operations of HNA Group Co. as the indebted Chinese conglomerate is reorganized after being placed under government control, people with knowledge of the matter said. Ping An Insurance Group Co, Juneyao Airlines Co and Air China Ltd have also been studying HNA’s assets, the …

Bloomberg Facebook Inc and Gucci filed their first joint lawsuit against an alleged online counterfeiter as the web giant and luxury brand move to crack down on the fraudulent practice. Facebook and Kering SA’s Italian fashion brand filed the suit against an individual for breach-of-contract, claiming violations of the social media platform’s terms and the infringement of Gucci’s intellectual property …

Bloomberg Pick n Pay Stores Ltd’s next chief executive officer, Pieter Boone, plans to accelerate his predecessor’s eight-year turnaround of the South African grocer by focusing on stores that cater for lower-to-middle income consumers and by boosting online sales. “Pieter speaks of evolution and acceleration, rather than revolution,” David North, Pick n Pay’s executive for strategy, said in an interview. …

Bloomberg L Brands Inc’s Victoria’s Secret has restarted talks with buyers about a potential sale, and is seeking more than double the $1.1 billion value it had last year in a failed deal, according to people familiar with the matter. After strong recent sales, the company could now target a valuation of at least $2 billion to $3 billion in …

Bloomberg LVMH, Richemont’s Cartier and Prada SpA are joining forces to offer a blockchain solution to their customers seeking an extra seal of authenticity for the goods they’re buying. The alliance of the world’s largest luxury-goods makers plans to make a blockchain-enabled solution available to all luxury brands to provide shoppers with assurance what they’re buying is authentic, the companies …

Bloomberg Prescription eyewear seller Warby Parker Retail Inc is considering an initial public offering as soon as this year, according to people familiar with the matter. The New York-based company is in discussions with advisers on a potential listing, the people said, asking not to be identified as the information is private. Warby Parker raised $120 million in its most …

Bloomberg Gucci’s sales rebounded in the first quarter, signalling a recovery for the luxury brand after the appeal of its flamboyant fashions waned last year. Comparable sales, a key measure of retail performance, jumped 25% at the Italian fashion house to 2.17 billion euros ($2.61 billion), owner Kering SA said in a statement. Analysts had expected a 19% gain. Gucci …