A group of 17 North American retailers and brands, including Wal-Mart Stores Inc., Gap Inc., VF Corp. and Target Corp., unveiled a binding five-year worker, fire and factory safety pact here on Wednesday that will provide a minimum of $42 million in funds to improve factory safety conditions in Bangladesh and train workers and factory owners in the wake of garment factory tragedies that have claimed the lives of more than 1,200 workers.
Europeans will be able to slather on creams with more confidence come Thursday. That’s when new legislation goes into effect across the European Union, ushering in more stringent safety requirements and detailed labeling.
Katy Perry would like to make one thing absolutely clear: She doesn’t allow her life to be ruled by fear. While some celebrities have made questionable decisions because they’re not positive of their career longevity, Perry is not one of them.
The dealmakers are waiting for a comeback. Despite a dearth of buyouts in the first half, retail bankers said the market is showing signs of perking up and could still spring back later this year or in 2014.
Loro Piana, a prized Italian firm that combines exclusive craftsmanship and technology, is entering the LVMH Moët Hennessy Louis Vuitton luxury sphere. The French giant is buying an 80 percent stake in Loro Piana for 2 billion euros, or $2.56 billion at current exchange.
The Juicy Couture gals want their old brand back. Pamela Skaist-Levy and Gela Nash-Taylor have been reaching out to private equity firms, looking for someone to help them buy back Juicy from Fifth & Pacific Cos., according to financial sources.
An après-la-plage crowd hit the Surf Lodge, the see-and-be-seen spot du jour out east, on Sunday afternoon for some artisanal provisions and seaside sunset views. A post-dip, straight-from-the-beach vibe was telegraphed with easy, semisheer cover-ups layered over swimwear.
Instagram’s content is about to become a lot more visible. The photo and video sharing Web site flipped the switch on new functionality Wednesday that allows its 130 million monthly users to embed content on additional channels.
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