Retail

  Bloomberg Chanel has raised global prices on some of its classic handbags by almost two-thirds since the end of 2019. A spokeswoman said the hikes are in response to unspecified exchange-rate fluctuations, changes in production costs and to ensure its handbags cost roughly the same around the world. But luxury-sector executives and analysts say the magnitude of the increases …

  Bloomberg The Italian luxury house Ermenegildo Zegna NV is open to acquiring other textile manufacturers or a fashion brand that’s strong with younger shoppers, its chief executive officer said. Zegna manufactures its own fabrics, knitwear and yarns, and also sells those products to other brands, such as Chanel and Brunello Cucinelli. “We have this luxury textile platform,” Ermenegildo Zegna …

  Bloomberg Snapdeal Ltd, the Indian e-commerce startup backed by SoftBank Group Corp, filed preliminary documents for an initial public offering, adding to the rush of tech companies looking to debut on the country’s exchanges amid a record-breaking stock market rally. The New Delhi-headquartered company plans to raise 12.5 billion rupees ($165 million) through the sale of new shares, according …

  Bloomberg Target is an early winner of the US holiday shopping season. The big-box chain increased sales approximately 10% in November, according to Bloomberg Second Measure, which analyses anonymised US consumer transactions to measure revenue. The retailer’s gains doubled the rate of top rivals Walmart and Amazon. Of course, December could be a different story with the arrival of …

  Bloomberg McDonald’s Holdings Co Japan will only offer french fries in small sizes after flooding at a Vancouver port and the coronavirus pandemic have cut off supplies of one of its key offerings. While the fast-food chain is trying to address the problem with alternative flights and is cooperating with suppliers and importers, it will only offer small-size french …

  Bloomberg The number of people visiting London’s major shopping district was down by almost a fifth on the last weekend before Christmas compared with pre-pandemic levels, a further sign of the toll the spread of the omicron variant is taking on beleaguered UK stores. Footfall in the West End was 17% lower than the equivalent period in 2019, and …

  Bloomberg Future Retail Ltd’s shares and dollar bonds jumped after an order by India’s antitrust body may make it harder for Amazon.com Inc to block a bid for the Indian department store chain by rival Reliance Industries Ltd. Future’s shares rose by the maximum permissible 20% to 57.5 rupees in Mumbai on Monday, the biggest surge since August last …

  Bloomberg Alibaba Group Holding has unveiled ambitious objectives for its Southeast Asian arm Lazada, accelerating an overseas expansion to offset Chinese economic and regulatory headwinds. The Chinese e-commerce leader is targeting a long-term goal of quintupling gross merchandise value, the sum of transactions across Lazada’s platforms, to $100 billion, Alibaba outlined in a presentation to investors. It wants Lazada …

Bloomberg Nike Inc is acquiring a virtual collectibles company as it dives further into the metaverse. The sportswear giant agreed to buy RTFKT, a business founded in 2020 that creates digital products like sneakers and uses blockchain technology to ensure authenticity, according to a statement. Financial terms of the deal were not disclosed. “This acquisition is another step that accelerates …

  Bloomberg Ocado Group Plc shares surged after the UK company won the first round in a patent-infringement case filed by rival AutoStore Holdings Ltd that has been hanging over the online grocery technology provider. Ocado shares rose as much as 9%, while Autostore dropped as much as 15%. Three AutoStore patents are invalid, while Ocado doesn’t infringe a fourth, …