Story of the Week
Kirin to acquire Jamieson Wellness in $1.36bn deal
Japanese firm Kirin Holdings Company has agreed to acquire Canadian vitamins, minerals and supplements (VMS) company Jamieson Wellness in a deal valued at approximately C$2.5bn ($1.36bn), strengthening its position in the global consumer health and preventative health market. The acquisition will give Kirin a stronger foothold in North America, which it described as the “world’s largest vitamins and dietary supplements market.” Jamieson Wellness will provide a platform for further growth and investment in the region, complementing Kirin’s existing health science businesses, including Blackmores and FANCL.
Apparel & Footwear
Tapestry Forecasts Muted Annual Sales as Kate Spade Struggles
Tapestry forecast sluggish annual revenue growth, overshadowing its better-than-expected quarterly profit, highlighting the persistent weakness at Kate Spade and cautious spending in North America. Shares of the company, which have risen roughly 20% this year, fell as much as 16.9% to a more than six-month low of $127.78. The company has long struggled to revive sales at Kate Spade. The brand named Scottish fashion designer Jonathan Saunders as its creative director in July, as part of a turnaround plan that includes improvements in product design and visual identity. Sales at the brand in the quarter fell 7% on a constant currency basis, while those at Coach rose 14% from a year ago.
Birkenstock Raises Revenue Forecast on Strong Demand, Shares Jump
Birkenstock raised its annual sales growth forecast, signaling that demand for its premium sandals and clogs remains resilient despite concerns that the German shoe maker was losing momentum. Shares of the company jumped about 15% to $43.29 but remained shy of its $63.68 record high hit two years ago. The stronger outlook contrasts investor concerns earlier this year that Birkenstock’s premium positioning was becoming a headwind, as steady full-price demand, direct-to-consumer growth and strength in Asia helped the company defy broader weakness across the apparel and footwear sector. Sales through Birkenstock’s direct-to-consumer channel, including its own stores and website, rose 14% and accounted for nearly 39% of quarterly revenue.
Pajar Canada Pays $3.6 Million for Melissa Brand’s U.S. Operations
Pajar Canada has acquired Grendene Global Brands USA, parent of the Melissa brand in the U.S. market, for $3.6 million. Pajar will now assume responsibility for the distribution and commercial management of Melissa and Mini Melissa stateside. The move significantly expands the relationship between the two companies. In June 2025, the Brazilian footwear company teamed up with Pajar as the exclusive distributor of Ipanema, Cartago, Zaxy, Rider, Azaleia and Copacabana in North America. That deal also included Melissa, but only in Canada. The new acquisition paves the way for Pajar, who has roots in outerwear and cold-weather products, to build the company’s year-round business with more spring and summer products.
Inditex Opens First Bershka Store in US
Spanish fashion label Bershka, the sibling brand of Zara, has made its US debut, opening its first permanent store in the upscale Aventura Mall in North Miami. Parent company Inditex said it chose the shopping center because of its strong appeal to Gen Z and millennial shoppers. “Bershka has built a strong connection with US customers over many years through bershka.com,” said Dilip Patel, president of Inditex USA. “This launch reflects Inditex’s selective growth strategy in action and our confidence in the opportunities we see in this market.” In addition to the launch in Miami, Patel said the group plans to roll out more stores during coming months.
Sporting Goods & Leisure
How Raised 2026 Guidance and Brand Momentum Will Impact Wolverine World Wide Investors
Wolverine Worldwide’s second-quarter performance and upgraded full-year forecast are strengthening the case for a sustained turnaround. Revenue rose 7% to $506.4 million, while net income increased 16% to $31.2 million. Management now expects 2026 revenue of $1.98 billion to $2.00 billion and adjusted EPS of $1.55 to $1.65, supported by continued momentum at Merrell and Saucony, as well as improved cost efficiency. The raised outlook suggests Wolverine’s strongest brands are converting sales growth into more durable earnings gains. However, investors must still monitor tariff and freight costs, the company’s reliance on wholesale channels, flat direct-to-consumer sales, and weaker performance across its other brands.
Fabletics Plans to Triple its International Footprint
Fabletics is accelerating its global expansion after surpassing $1 billion in annual revenue, planning to open 45 stores over the next 12 months, 25 in the U.S. and roughly 20 internationally to triple its overseas retail footprint. The company will enter markets including India, the United Arab Emirates, Colombia, Peru, Mexico, and Central America, using physical stores to complement its growing e-commerce and wholesale businesses; it has already opened 12 U.S. locations this year and reported three consecutive years of double-digit same-store sales growth. Fabletics aims to double annual revenue to $2 billion and quadruple EBITDA within five years, with management positioning retail as an increasingly important growth driver. The strategy also reflects a broader shift among digital-first activewear brands toward stores, product diversification, and localized international partnerships, but its success will depend on whether Fabletics can maintain sales productivity and profitability as it moves into less familiar markets
CardVault by Tom Brady Announces Strategic Investor Group
CardVault by Tom Brady, the leading national retailer dedicated to sports cards, trading cards, and authenticated memorabilia, announced its first strategic investor group, bringing together some of the most influential leaders across sports, business, media, technology and entertainment to support the company’s next phase of national growth. The investor group includes RedBird Capital Founder Gerry Cardinale; Shawn “JAY-Z” Carter; Silver Lake Co-CEO Egon Durban; Entrata CEO Adam Edmunds; Addition Founder Lee Fixel; Raising Cane’s Founder and CEO Todd Graves; Co-Owner Boston Celtics Wyc Grousbeck; Fenway Sports Group Principal Owner John Henry; Boston Globe Media CEO Linda Henry; New York Yankees Captain Aaron Judge; The Kraft Group; Edmonton Oilers Captain Connor McDavid; Silver Lake Co-CEO Greg Mondre; Tom Brady Manager Ben Rawitz; Creative studio Shadow Lion; and UFC President and CEO Dana White.
Cosmetics & Pharmacy
DSM-Firmenich agrees to $33 million settlement following alleged price fixing
DSM-Firmenich has agreed to pay US$33m to settle claims brought by direct purchasers alleging that the company participated in a scheme to fix prices in the fragrance industry between January 2018 and April 2023. The proposed settlement would resolve the alleged claims against the fragrance and flavour maker and its subsidiaries. This settlement comes as part of a wider antitrust case against major fragrance suppliers following investigations into suspected coordination within the industry. The other principal defendants named in the case were Givaudan, IFF and Symrise.
Natura Q2 2026 profit falls 82% amid Brazil headwinds
Brazilian cosmetic maker Natura &Co posted a net profit of 35 million reais (BRL) for the second quarter of 2026, an 82% drop compared to the 196 million recorded during the same period in 2025. Revenue in the Brazilian market declined 14.8% year on year to BRL 3.07 billion. The Natura brand posted a 14.5% decrease, while Avon reported a 22.5% drop in sales. According to the company, the weaker performance in Brazil was mainly attributable to product stockouts, temporary tax timing effects, and a softer consumer environment.
Discounters & Department Stores
Frasers Group Acquires Harvey Nichols
UK-based retail conglomerate Frasers Group — which owns Flannels and Sports Direct — has acquired ailing British department store Harvey Nichols for an undisclosed sum, the company announced. The acquisition includes Harvey Nichols’s portfolio of six stores including the newly refurbished Knightsbridge London flagship, Manchester, Birmingham, Bristol, Leeds, and Edinburgh, together with its online business, existing inventory and over 1,000 employees, Frasers confirmed. In July this year, Harvey Nichols told potential investors to submit bids between £50-60 million to continue its recovery plan. Suitors that expressed interest included Frasers, Next, and Modella Capital (owner of Hobbycraft and TGJones, formerly WHSmith), but Frasers Group, which has been on an M&A sweep over the last year, has completed the deal.
Target Appoints its First Chief AI Officer as Big Retailers Bet on AI
Target announced it has appointed its first ever chief artificial intelligence officer in the retailer’s latest bet to capitalize on the AI boom. The company named Chandhu Nair as its chief AI officer and senior vice president. “The most meaningful AI stories won’t be about what happens in a lab,” Nair said in a statement. “They’ll be about what happens on the front line – how we make shopping easier for a guest, give a team member a better tool, make a business decision with more confidence or bring a new idea to market faster.” Nair previously worked at home improvement retailer Lowe’s as the company’s senior vice president of stores, data, AI and innovation and has also held roles at Staples and Gap.
Emerging Consumer Companies
WashWise raises $1.2 million pre-seed round and launches Reset Spray
WashWise has raised $1.2 million in pre-seed financing and launched its first product, Reset Spray, as the consumer startup looks to build a clothing-care business around refreshing garments between traditional washes and dry cleaning. Founded by former J.P. Morgan and Citadel trader Maria Cabral Menezes, WashWise completed the financing through a SAFE round backed by investors and executives across consumer products, retail, fashion, hospitality, technology and finance. Investors include FJ Labs, Singh Capital, Alex Jekowsky, Jack Abraham, Brian Tate, Gigi Howard, Nina Farran, Mia Tonelli, Taylor James and Brown Girl Angels. The syndicate also includes executives and operators associated with Pickle, The Business of Fashion, Dior, SoulCycle, Soho House, Apple and J.P. Morgan.
Plantible raises $35m in debt, equity, to increase RuBisCO protein production fivefold
Plantible Foods – a startup extracting RuBisCO, a highly-functional protein from fast-growing aquatic plant lemna (duckweed) – has raised $35 million in debt and equity funding to expand operations at its site in Eldorado, Texas. The package includes a $25 million loan from X-Caliber Rural Capital via USDA’s Business & Industry Loan Guarantee Program and $10 million in equity from RA Capital and other existing investors. The funds will enable Plantible to increase annual production capacity for its “Rubi protein” five-fold to over 1,000 metric tons, fulfill its existing customer pipeline, and enter new markets, said cofounder and CEO Tony Martens.
Food & Beverage
Axum Capital Partners To Acquire Controlling Stake In BARCODE
Axum Capital Partners has agreed to acquire a controlling interest in BARCODE, a performance hydration beverage brand tied to professional athletes and the broader health and wellness market. BARCODE was co-founded by NBA champion Kyle Kuzma and has featured NBA All-Star Victor Wembanyama as its primary brand endorser. BARCODE sells plant-based performance water containing vitamins D, B6, and B12, magnesium, ashwagandha, and no added sugar. Axum sees BARCODE as fitting its strategy of partnering with founder-led and high-growth consumer brands positioned around increasing interest in health and wellness products.
Ferrero to buy better-for-you breakfast brand Purely Elizabeth
Ferrero Group will acquire better-for-you oatmeal and granola brand Purely Elizabeth for an undisclosed amount. The move broadens Ferrero’s presence in the U.S. and in breakfast foods following its $3.1 billion purchase of WK Kellogg. Purely Elizabeth’s founder and CEO Elizabeth Stein will continue in her role as the brand continues to operate as a standalone entity in the Ferrero portfolio. Nutella maker Ferrero plans to support Purely Elizabeth’s next phase of growth with product innovation, expanded distribution and boosted operational capacity.
Grocery & Restaurants
Nelson Peltz is reportedly planning an offer for Wendy’s
Nelson Peltz is apparently planning a bid for the restaurant chain in which he has long had a major role, Wendy’s, and he may be getting some interesting help in the form of mega-franchisee Greg Flynn. That, at least, is according to a report on Wednesday from Financial Times, which reported that Peltz’s Trian Fund Management is working with a group of investors, including the Abu Dhabi-based BlueFive Capital and Flynn Group. Flynn is a major Wendy’s operator, along with other chains including Pizza Hut, 7 Brew, Applebee’s, Panera Bread, Taco Bell, and Arby’s, as well as the fitness concept Planet Fitness. The news sent Wendy’s stock soaring 14%.
Bonchon agrees to acquisition by two entities
The Korea-born chicken chain Bonchon will soon have a new owner — or owners. The Dallas-based chain owned by Korean private-equity firm VIG Partners said it has agreed to be acquired by two entities: Minor Food and Serruya Private Equity. Under the deal, which is expected to close in August, Minor Food will take the Bonchon locations outside the Americas, and Serruya will take the outlets in the Americas to grow throughout the U.S., Canada, Mexico and Chile. Bonchon has about 500 units worldwide in nine countries, including 150 in the U.S.
Home & Road
Katapult Holdings, a technology and data‑driven platform serving nonprime consumers, has announced it has completed an all‑stock combination with The Aaron’s Company and CCF Holdings. “Today marks an important milestone for Aaron’s, CCFI, and Katapult as we unite three businesses with distinct strengths and a shared commitment to serving nonprime consumers,” says Kyle Hanson, executive chairman of Katapult Holdings. The combined company brings together lease‑to‑own, retail, and consumer finance capabilities, along with one of the largest proprietary datasets in the nonprime market spanning roughly 7 million consumers. Expected to close in August 2026, the combination creates a scaled omnichannel platform that generated more than $4bn in 2025 pro forma revenue and more than $460mn in 2025 pro forma adjusted EBITDA, with CCFI unitholders, existing Aaron’s shareholders, and legacy Katapult shareholders owning approximately 80%, 14%, and 6%, respectively, of the combined company on a fully diluted basis.
Samsonite Group to acquire BÉIS at a $210 million value
Samsonite Group has entered into an agreement to acquire BÉIS, a digitally native lifestyle and travel brand founded by actress and entrepreneur Shay Mitchell and incubated by Beach House Group, in a transaction valuing BÉIS at approximately $210 million. The deal is expected to expand Samsonite Group’s presence in lifestyle bags, strengthen its digital and e-commerce capabilities, and increase its exposure to younger and predominantly female consumers. Founded in 2018, BÉIS offers luggage and lifestyle bags and has built a highly engaged customer base through social media, creator partnerships, brand collaborations, and a digital-first marketing strategy.
Jewelry & Luxury
Monterey Car Week Auctions Could Hit a Record $500 Million, with Help from Younger Buyers
Monterey Car Week auctions are expected to generate between $470 million and $500 million this year, potentially surpassing the event’s prior record of $471 million set in 2022. The results would reflect a rebound in the collector-car market and growing demand from millennial and Gen Z buyers, who are increasingly bidding on modern supercars from the 1980s, 1990s, and 2000s rather than the vintage models traditionally favored by older collectors. Ferrari F40s, F50s, Enzos, Bugatti Veyrons, Koenigseggs, and Paganis have seen significant price appreciation, with a 1996 McLaren F1 GTR estimated to sell for approximately $35 million.
World’s Largest Jeweler bets on Platinum Despite Falling Silver Prices
Pandora is moving ahead with its platinum-plated jewelry line as it seeks to reduce exposure to volatile silver prices, even after silver retreated from a January peak above $120 per ounce to below $65. The world’s largest jeweler has hedged between 90% and 100% of its expected 2027 silver requirements at approximately $65 per ounce, limiting the immediate benefit of the decline in silver prices. Pandora says the platinum-plated pieces can be produced at comparable prices to its sterling-silver jewelry because only a thin layer of platinum is used, allowing the company to maintain its accessible luxury positioning while managing input-cost volatility.
Technology & Internet
Uber partners with China’s Pony.ai for 2,000 robotaxis in Europe
U.S. ride-hailing giant Uber is ramping up its global robotaxi coverage with operator Pony.ai. The companies plan to deploy 2,000 of Pony.ai’s self-driving taxis across Europe, and expand the robotaxi partnership to the Middle East, they announced Friday. In late March, Uber and Pony.ai launched a commercial robotaxi service in Croatia’s capital Zagreb — which they claim is the first in Europe. The partnership announced Friday will roll out robotaxis to four other European cities. The companies did not name the cities or share an exact timeframe. Having a large-enough vehicle fleet is critical for commercialization. The more cars available, the more data can be collected to demonstrate safety to regulators and boost operational efficiency. Greater availability encourages more people to use the service.
Finance & Economy
Stocks Rise as Traders Reduce Rate Hike Bets, Oil Prices Drop
Global stocks rose as softer U.S. producer-price data reduced expectations for a Federal Reserve rate hike, with the S&P 500 and Nasdaq reaching record levels while traders priced in a 65% chance that rates would remain unchanged in September. Oil prices, however, fell more than 2% as higher inventories and downgraded 2026 demand forecasts outweighed continued Iran-related supply risks. This shows markets are rewarding signs of cooling inflation, but the oil selloff suggests investors are becoming more concerned about weakening global demand, an increasingly important signal for both corporate earnings and economic growth.
Wholesale Prices were Flat in July, Below Expectations for 0.2% Increase
The Producer Price Index was unchanged in July, below economists’ forecast for a 0.2% increase, while core PPI rose 0.2%, also softer than expected. Falling energy prices, including a 5.7% drop in gasoline, helped offset higher service costs, pushing goods prices down 0.7% for the month. On an annual basis, producer prices rose 4.7%, slowing from 5.5% in June. This report offers fresh evidence that inflationary pressure is easing, reducing the likelihood of an immediate Fed rate hike, although elevated service prices and core costs mean policymakers are unlikely to declare victory yet.
