Ralph Lauren, the renowned fashion brand, is taking its collaboration with the popular video game Fortnite to new heights. On August 3rd, the company will introduce a captivating branded world within Fortnite called Race to Greatness. This unique island in the game aims to embody the adventurous spirit of Polo, one of Ralph Lauren’s iconic brands.

Alongside this virtual experience, Ralph Lauren will also release a physical product known as the Polo x Fortnite P-Wing Boot. Inspired by the digital version from the original Polo Stadium Collection in Fortnite, the boot will be exclusively available on RalphLauren.com. This “phygital” product blurs the boundaries between the digital and physical realms of fashion.

In a strategic move to enhance its financial leadership team, luxury e-commerce platform Farfetch has appointed Tim Stone as its new Chief Financial Officer (CFO). Stone brings over twenty years of experience, having previously held senior finance and CFO roles at Amazon and Ford Motor Company. This hire underscores Farfetch’s commitment to strengthening its position in the luxury e-commerce market as it continues to expand.

Popular cosmetics brand e.l.f. Beauty has reported impressive financial results for the second quarter of the year. Net sales for the three-month period ending June 30th soared by a remarkable 76% to reach $216.3 million. The brand’s success in both traditional retail and e-commerce channels contributed to this growth. e.l.f. Beauty also gained market share, experiencing a 260 basis point increase in the first quarter. Adjusted EBITDA for the quarter reached $74.3 million, accounting for 34% of net sales and showcasing a significant 135% year-on-year increase. The company’s net income on a GAAP basis amounted to $53 million, while adjusted net income stood at $62.9 million.

House of Fraser, a well-established UK department store chain, faces potential closures as its parent company, Frasers Group, reassesses its portfolio. CEO Michael Murray stated that the department store model is “broken” on a global scale and that excess space needs to be addressed. Frasers Group currently operates fewer House of Fraser stores compared to when it acquired the chain in 2018. To adapt to the changing retail landscape, the company actively seeks solutions for its store network.

Vienna-based womenswear label Petar Petrov has filed for self-administration in Austria as part of a restructuring process. The 15-year-old label has accumulated liabilities of approximately €3.6 million. Creditors are projected to receive around 30% of the amount owed to them. Despite this financial setback, founder Petar Petrov is determined to regain control of the company and steer it towards a successful future.

Kao Corporation, the owner of well-known brands like John Frieda and Jergens, is expanding its portfolio through the acquisition of Bondi Sands. Bondi Sands, an Australian suncare brand, has garnered considerable worldwide popularity and holds a dominant share of the self-tanning market. The exact financial details of the acquisition remain undisclosed. Bondi Sands products are currently available in over 32 countries, including the UK and US.

These recent developments highlight the dynamic nature of the fashion and beauty industries. Brands like Ralph Lauren are embracing the world of gaming to connect with younger audiences, while companies like Farfetch are bolstering their financial leadership teams to ensure future growth. The challenges faced by House of Fraser and Petar Petrov underscore the ongoing transformations within the retail landscape. Additionally, Kao Corporation’s acquisition of Bondi Sands exemplifies strategic efforts to expand brand portfolios. As these industries continue to evolve, companies must adapt and innovate in order to thrive in this ever-changing landscape.

Useful Links:
– Ralph Lauren Fortnite collaboration: https://www.ft.com/content/9f299fe3-2fb4-4ca5-9a3e-5c33061e86d0
– Farfetch’s appointment of new CFO: https://www.reuters.com/business/finance/farfetch-names-former-amazon-cfo-tim-stone-its-new-cfo-2021-07-28/