Story of the Week

Frasers Group launches €2 billion takeover offer for struggling Hugo Boss

Frasers Group, the retailer controlled by British billionaire Mike Ashley, launched a €2 billion ($2.31 billion) takeover offer for struggling German fashion brand Hugo Boss. Frasers, the biggest shareholder in ​Hugo Boss with a 26.1% stake, is offering €38 per share in cash for the ​remaining shares – a 4.3% premium to the €36.44 closing price of Hugo Boss ⁠stock on June 10. Hugo Boss would be the latest addition to Ashley’s sprawling retail empire, which ​includes Sports Direct and House of Fraser under Frasers Group, as well as stakes held ​by Frasers in Asos, Debenhams, and Currys. Hugo Boss has been struggling with falling sales and set out a new strategy six months ago to revamp stores, streamline its product range and offer more womenswear. Its shares ​are trading at around half their value three years ago.

Apparel & Footwear

Asics to Spin Off Its Red-hot Onitsuka Tiger Brand in Company Split

On June 10, Asics disclosed that its board of directors voted to spin off the nearly 80-year-old Onitsuka Tiger brand into OT Group Corp., a new wholly owned subsidiary of Asics Corp., through an absorption-type company split, effective Jan. 1, 2027. Asics will continue to be led by president and chief operating officer Mitsuyuki Tominaga and will remain headquartered in Kobe, Japan, the company said. The new OT Group will be led by president and chief executive officer Ryoji Shoda, who currently serves as the brand head. OT Group will be headquartered in Tokyo. The move comes after Asics noted that its Onitsuka Tiger business has experienced accelerated growth in recent years, driven by the expansion of its geographic footprint and increased brand recognition.

StockX introduces live shopping

StockX is expanding into social commerce with the launch of a real-time live shopping experience for new and pre-owned items, set to debut this summer for U.S. iOS users. Dubbed “StockX Live”, the experience will enable buyers to participate in live auctions, giveaways, and direct seller-buyer engagement with most auctions beginning at $1. The move comes as social commerce and livestream shopping continue to gain traction globally, particularly among younger consumers who increasingly blend entertainment, community and commerce into a single digital experience.

Sporting Goods & Leisure

Merrithew International Acquires Gyrotonic Mind-Body Method

Merrithew International, Inc., a Pilates education and equipment provider, acquired Gyrotonic to combine the two mind-body practices.  Created by Juliu Horvath, Gyrotonic uses pulley-based weight machines that blend the principles of yoga, dance, tai chi, and gymnastics to increase flexibility, strength and joint mobility. Its sister method, Gyrokinesis, is practiced on a mat and stool without heavy equipment, focusing on functional strength and releasing body tension. The methods are practiced in studios and wellness centers globally.  The methods will join Merrithew’s lineup of programs, which includes Stott Pilates, Zen-Ga, Total Barre, and Halo Training.  Founded in 1988, Merrithew reports it “has trained over 90,000 instructors in more than 135 countries and also manufactures a wide range of Pilates equipment and fitness accessories.”

Continental sells El Segundo campus for $42M to Bay Club

The Bay Club Company is growing its real estate holdings across California with its latest acquisition in the Los Angeles area. The athletic club completed its purchase of a two-building campus at 2250 Park Place in El Segundo for $42 million, L.A. Business First reported. Continental Development Corporation acquired the 5.4-acre property in the 1960s and sold the buildings after more than a half-century of ownership.  With the latest acquisition, Bay Club now owns both buildings at the site and the land beneath them. The San Francisco-based firm purchased one building at the campus in 2017 for $29 million and inked a long-term land lease at the time.

Cosmetics & Pharmacy

Bidders circle Boots amid rumored US$10B offload

Sycamore Partners is reportedly considering selling UK pharmacy and beauty chain Boots for US$10 billion, one year after acquiring it. The move would replace the private equity firm’s previous plan to float Boots on the London Stock Exchange via an initial public offering (IPO). Sycamore originally took control of Boots in 2025 when it acquired the parent company, Walgreens Boots Alliance (WBA), in a US$23.7 billion takeover. After Sycamore broke WBA into five separate operating businesses, Boots now functions as a standalone asset that can be sold for a premium, and multiple bidders are lined up in agreement.

Givaudan boosts fine fragrances global expansion with Eurofragance acquisition

Givaudan, a global leader in fragrances and beauty ingredients, has entered into an agreement to acquire a majority stake in Eurofragance. Eurofragance is a family-founded fragrance creation house specialising exclusively in the design and production of fine fragrances, as well as fragrances for personal and home care products. With a strong presence across Europe, the Middle East, Asia, Africa, and Latin America, the company focuses on high growth regional markets. With this acquisition, whose financial terms were not disclosed, Givaudan seeks to expand its global capabilities and market reach, drawing on Eurofragance’s strong regional platform and local market expertise.

Capsum Acquires KKT Labs to Strengthen U.S. Presence

Capsum, a CDMO in advanced skin care, makeup and hair care formulation and manufacturing, has acquired product development firm KKT Labs as the former looks to deepen its presence in the U.S. As part of the transaction, Krupa Koestline, founder of KKT Labs, has been appointed chief executive officer of Capsum USA. Other terms of the deal were not disclosed. The combined entity will offer brand partners a fully integrated innovation pipeline, from concept and formulation to industrial scale and global deployment. Capsum is known for its innovations in microfluidics and encapsulation, which are both new ways to assemble beauty formulas.

The Estée Lauder Companies invests to bring candles production in-house in UK

The Estée Lauder Companies (ELC) is expending an undisclosed sum to make the UK its main manufacturing hub for candles across the beauty group’s prestige brand portfolio worldwide, including the Jo Malone London, Tom Ford and Aerin brands. This move is via the integration of select luxury candle and home fragrance capabilities from Contract Candles, its long-term partner and maker of scent diffusers and luxury candles, into its UK manufacturing operations. ELC will take over the lease of one of Contract Candles’ two UK facilities, bringing onboard around 50 employees. New R&D and quality capabilities will also be added.

Discounters & Department Stores

Saks Global Wins Approval to Exit Bankruptcy After Reorganizing

Saks Global received court approval for its bankruptcy restructuring plan on June 5, clearing the way for the luxury retailer to exit Chapter 11 with a smaller store footprint. The restructuring will eliminate nearly 75 percent of the company’s debt and hand control to senior lenders. The company will emerge with 49 luxury retail locations, including 33 Neiman Marcus stores, 15 Saks Fifth Avenue stores, two Bergdorf Goodman stores, and 12 Saks Off Fifth stores. Prior to filing, Saks Global’s store count included 33 Saks Fifth Avenue, 35 Neiman Marcus, two Bergdorf Goodman, and 69 Off-Fifth. Saks Global expects to emerge from bankruptcy within weeks. Under the plan, senior lenders will take control of Saks Global after providing $1 billion in new funding through the bankruptcy and pledging an additional $500 million upon the company’s exit from Chapter 11.

Emerging Consumer Companies

Stars + Honey, protein bar brand, raises investment from VMG

Stars + Honey, the collagen protein bar brand, announced its minority growth investment from VMG Partners. The investment will fuel Stars + Honey’s omnichannel expansion, drive continued product development and brand growth, and finance the expansion of its manufacturing footprint with a new state-of-the-art 60,000 sq. ft. manufacturing facility. Launched in 2023, Stars + Honey was founded on the belief that eating well should never come at the cost of your palate. Stars + Honey collagen protein bars deliver 15g of protein in 18 chef-inspired flavors including Espresso Vanilla Cinnamon and Cherry Chocolate Waffle Cone, all under 200 calories and free from gluten, dairy, soy, sugar alcohols, and seed oils. Formulated with Type I and Type III grass-fed bovine collagen peptides, each bar supports skin elasticity, hair health, and joint comfort to optimize health. Stars + Honey is the antidote in a category that has overindexed on protein and underdelivered on taste.

Tom Brady and Gopuff Launch Good Nut Organic Coconut Water

Seven-time World Champion, entrepreneur, and philanthropist Tom Brady is bringing his relentless pursuit of peak performance to the beverage aisle. As the latest expansion of his partnership with Gopuff, the leader in instant commerce, Brady today announced the launch of Good Nut, a premium line of organic coconut water designed for those who refuse to compromise on quality or taste, available exclusively on Gopuff. Capitalizing on this shift, Good Nut offers a premium alternative to over-processed sports drinks. Sourced from organic Vietnamese coconuts and with no added sugars, Good Nut delivers a clean, refreshing hydration experience in a sleek 11.8 oz can. True to Brady’s disciplined approach to nutrition, the entire line contains no added sweeteners and nothing artificial. Good Nut is available in three delicious flavors.

Bombas opens new stores and expands wholesale

The sock brand Bombas is known as one of the OG DTC brands of the 2010s. But in the last year, new CEO Jason LaRose has been pushing the brand in new directions, opening three brand stores and striking deals with big retailers like Target and DSW. For LaRose, it’s part of an overall shift toward a more omnichannel-focused strategy, in which physical stores and wholesale accounts bolster the direct business. It’s also a growth period for the company, as it has launched new lines like the performance-focused Bombas Sport, partnered with athletic leagues like U.S. Figure Skating and hit over $500 million in sales last year.

Personalised gummies firm Rem3dy Health raises funds for global push

UK-based Rem3dy Health, the producer of personalised gummies brand Nourished, has raised £14m ($18.8m) to fund efforts to expand further overseas. Investors in the round include Spain’s Hijos de Rivera, the owner of the Estrella Galicia beer brand. Other investors included Indian healthcare group Apollo Hospitals, French pharmaceutical major UPSA and Birmingham-based investor Future Planet Capital Regional. The latest round values Rem3dy at £84m, a statement from the business said. Rem3dy said it will use the money to support its expansion into markets like the US, MENA region and India.

Food & Beverage

Ingredion strikes deal to buy Tate & Lyle for $3.6B

Ingredion is buying Tate & Lyle for $3.6 billion, a deal that would create an ingredient giant with a sprawling portfolio and nearly $10 billion in annual revenue. The companies announced in May they were in discussions for a possible deal. The purchase will broaden Ingredion’s specialty ingredients platform, add complementary capabilities in multi-ingredient systems and recipe development, and create a deeper portfolio that addresses more consumer needs. It will also diversify Ingredion’s global reach and give it greater scale in North America, Europe and emerging markets. The purchase is expected to be completed in the second half of 2027. The new company is expected to generate cost synergies of around $130 million annually by the end of 2030, the firms said.

Nestle to fully acquire yfood Labs GmbH

Nestle will fully acquire yfood Labs GmbH, from its founders Benjamin Kremer and Noel Bollmann. Nestle has held a 49% minority stake in yfood since 2023. Subject to customary approvals, the remaining shares held by the founders are expected to transfer to Nestle with effect from July 3, Nestle said. Yfood was founded in 2017 to offer a nutritious meal in a convenient ready-to-drink (RTD) beverage format for consumers who were short on time to prepare a full meal. The company has since added powders, bars and hot bowls that now forms a separate category called Smart Food.

Second Nature Brands enters meat snacks with Tillamook deal

US-based Second Nature Brands is entering the meat-snacks market with the acquisition of Tillamook Country Smoker. Second Nature Brands said the transaction marks its move into the “fast-growing” protein-snacks category. The Chicago-based company added the deal complements its “better-for-you” snacking portfolio, which includes Kar’s Nuts, Sahale Snacks and Voortman. Founded in 1975, Tillamook specialises in “clean label” products such as zero-sugar jerky, beef sticks and sausages. The company operates two manufacturing facilities in Oregon and employs around 480 people.

Grocery & Restaurants

Starbucks mulls options for Japan business, including stake sale, Bloomberg News reports

Starbucks is considering options for its Japanese business, including a stake sale that might be valued at 400 ​billion yen ($2.5 billion) to 500 billion yen, Bloomberg News reported ‌on Tuesday, citing people familiar with the matter. A stake sale could possibly attract interest from other industry players and private equity firms, the report said. The Seattle-based company moved to take full control of Starbucks Coffee Japan Ltd in 2014, buying out partner Sazaby League after nearly two decades of joint operations. Japan, according to ​Starbucks’ latest annual ​report, accounts for ⁠nearly 9% of its global store base, with 1,883 locations as of September 2025. The company closed its deal with Boyu Capital to sell control of ⁠its ​Chinese operations in April, valuing it at $4 ​billion, as it looks to jump-start growth in the region.

Cracker Barrel posts surprise profit, lifts outlook for year

Cracker Barrel Old Country Store lifted its full-year outlook after reporting a higher profit in the fiscal third quarter, as cost cuts helped absorb a continued decline in sales. The restaurant chain reported a profit of $42.8 million, or $1.90 a share, compared with a profit of $12.6 million, or 56 cents a share, a year earlier. The results are a welcome lift for Cracker Barrel, whose attempt to execute a turnaround has been complicated by backlash from the company’s short-lived attempt to change its logo and customer complaints about food quality and menu changes. The company reinstated its old logo and some older cooking processes, including freshly rolled and baked biscuits.

Starbucks says its turnaround is ahead of schedule, but has a long way to go

Starbucks’ comeback under CEO Brian Niccol is running ahead of schedule, at least according to company executives. But that doesn’t mean it’s finished. Niccol, along with Starbucks CFO Cathy Smith, made the rounds of investor conferences this week, arguing that there remain plenty of customers out there to be had for the coffee shop giant. “There’s still a lot of opportunity for us to grow transactions from where we are today,” Niccol said at the Bernstein Conference on Tuesday. “The reality is, we’re not all the way back to where our transactions were just in 2023, and we’re definitely not back to where we were in 2018 or 2019. So we have capacity to service more demand.”

Home & Road

Bed Bath & Beyond CEO Details Container Store Price Reset

In a letter to customers, Bed Bath & Beyond executive chairman and CEO Marcus Lemonis detailed plans to lower prices at The Container Store and more closely align the retailer with Bed Bath & Beyond.  The emailed letter included an electronic version of Bed Bath & Beyond’s famous “get 20% off a single item” coupons. Lemonis said he spent time speaking with customers, store associates, vendors and industry partners as he evaluated The Container Store’s future. According to Lemonis, the feedback was consistent: Customers love The Container Store’s products, organization solutions and service, but many customers and longtime employees felt prices had become difficult to justify. As a result, Lemonis said Bed Bath & Beyond challenged itself, its vendors and longstanding assumptions about pricing. The company is now resetting prices across thousands of The Container Store products, with changes continuing to roll out in stores and online.

Why the Palliser deal happened, and what it means for the

For more than a month, the furniture industry hasn’t been wondering whether MotoMotion and Palliser would strike a deal. It has been wondering what kind of deal it would be. Back at High Point Market, Palliser confirmed it was in discussions with MotoMotion, moving the conversation from industry rumor to acknowledged reality. The only remaining questions were whether the transaction would ultimately get across the finish line and what the relationship would look like once it did. Now we have our answer. MotoMotion has acquired Palliser. That announcement closes one chapter, but it opens a much more important discussion. Why did the deal happen? Why would one of the fastest-growing furniture companies in the world want to acquire one of North America’s most recognized upholstery brands? And what does the transaction mean for dealers, suppliers and consumers going forward? The easy explanation is that MotoMotion saw an opportunity. The more accurate explanation is that it saw both a necessity and a strategic opening.

Jewelry & Luxury

Higher-Ticket Purchases Drive U.S. Jewelry Sales Growth in May

Higher-priced purchases continued to drive growth in U.S. jewelry sales in May, even as the number of units sold declined, according to a monthly report by Edahn Golan of Tenoris. U.S. jewelry sales increased 1.8% year-over-year in May, while the average purchase price rose 19.6%, Golan said. Year-to-date revenue at specialty jewelers was up 7.6%, reflecting strength in overall sales despite weaker unit performance. The report indicated that the market continues to be shaped by a “price up, units down” dynamic, in which revenue growth is driven primarily by higher-value purchases. Unit sales declined by a low-double-digit percentage during the month, while higher-priced items—particularly those above $2,500—saw increased demand. Mother’s Day remained a key sales driver, accounting for roughly one-third of May’s jewelry revenue, according to Golan. In the week leading up to the holiday, diamond jewelry sales rose modestly, with higher average spending per item offsetting lower unit sales. Necklaces and fashion rings were among the strongest performing categories.

Technology & Internet

Best Buy rolls out Meta Lab shop-in-shops

Best Buy is rolling out a Meta shop-in-shop concept — dubbed Meta Lab @ Best Buy — to 50 stores this summer. Meta Lab @ Best Buy shop-in-shops are about 900 square feet, intended to provide space for customers to test out Meta’s full product lineup of AI glasses and VR headsets. The spaces provide for interactive demos, smart mirrors, personalized fittings and more. The debut comes amid a broader strategy shift at Best Buy in which the company is broadening its footprint with the opening of more medium- and small-format locations, and optimizing empty spaces at larger store formats. Meta Lab @ Best Buy is the latest shop-in-shop initiative from Best Buy, which has also embarked on a partnership with home retailer Ikea’s U.S. business.

Vinted boss sees big shift in consumer behaviour as second hand booms

Online resale app Vinted is seeing a structural shift in consumer behaviour, as habits form around the resale economy, the company’s marketplace boss told CNBC on Monday. Vinted, the consumer-to-consumer platform allowing customers to sell unwanted items like clothing, electronics, or even furniture, has seen rapid growth in recent years, boosted by consumers increasingly looking for value amid rising costs of living globally. The value of items sold on Vinted grew nearly 50% last year, as it launched in more European markets. “It’s a fundamental change in consumption towards second hand, and I think that is very much here to stay,” Adam Jay, CEO of Vinted Marketplace, told CNBC. “Vinted was growing well before the current economic difficulties, the cost of living crisis, inflation, and has continued to grow well in times of difficulty and stress.”

Finance & Economy

Wholesale prices rose 1.1% in May, more than expected, on surge in energy

Wholesale prices rose more than expected in May, indicating that pipeline inflationary pressures are percolating higher, the Bureau of Labor Statistics reported.  The producer price index, a measure of final demand costs, increased a seasonally adjusted 1.1% on the month, putting the 12-month wholesale inflation rate at 6.5%. Economists surveyed by Dow Jones had been looking for a monthly move of 0.7%.  The annual headline inflation rate was the highest since November 2022. The monthly gain matched the April increase.

US weekly jobless claims increase marginally amid labor market resilience

The number of Americans filing claims for unemployment benefits increased marginally last week, pointing to continued labor market resilience in early June.  Initial ​claims for state unemployment benefits rose 4,000 to a seasonally adjusted 229,000 ‌for the week ended June 6, the Labor Department said. Economists polled by Reuters had forecast 219,000 claims for the latest week.  Claims tend to rise at ​the start of summer as some states allow non-teaching staff to ​file for unemployment benefits during the long school holidays.