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Tory Burch names new North America president

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Tory Burch names new North America president


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November 5, 2025

Tory Burch announced on Wednesday the appointment of Joëlle Grunberg to the role of president of North America, effective November 10. 

Tory Burch – Spring-Summer2026 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

Grunberg succeeds Christophe de Pous, who is leaving the American fashion company to “pursue other opportunities,” according to a press release.

In her new role, Grunberg will be responsible for the New York-based brand’s retail, e-commerce and wholesale operations in the North America region. Based in New York, the executive will report to chief executive officer, Pierre-Yves Roussel

A fashion and luxury veteran, Grunberg has held multiple C-suite roles  across Europe and the United States. She joins Tory Burch from McKinsey & Company, where she was a partner in the retail – fashion and luxury practice for North America. Prior to that, she served in executive leadership roles at Wolverine Worldwide, Lacoste and Galeries Lafayette. 

“Joëlle is an accomplished executive with a vast range of experience in our industry,” said Roussel, who is also Burch’s husband.

“She brings with her a growth mindset in alignment with our approach, as well as a strong track record of success driving customer engagement and omni-channel results. I look forward to working with her to further capitalize on our strength and potential in North America.”

Opening its first store in New York City in 2004, North America is Tory Burch’s largest market. Today, the brand’s retail footprint includes 125 stores across the United States and Canada, representing nearly one-third of its global network.

In addition to its digital presence, Tory Burch is sold in select department stores, including Nordstrom, Saks, Bloomingdales and Neiman Marcus.

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Shein sets up shop at Paris’ BHV: What’s on offer and what’s the concept?

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Shein sets up shop at Paris’ BHV: What’s on offer and what’s the concept?


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November 5, 2025

Wednesday, November 5, at 1pm. The opening of the Shein boutique at BHV Marais drew a large crowd. For several hours, the first customers waited in a long queue at the foot of the Parisian department store to enter the Chinese brand’s first permanent bricks-and-mortar store. On the other side of the street, dozens of demonstrators, local elected officials and union representatives voiced their disapproval at the much-maligned brand setting up shop.

Opening of the Shein boutique on November 5 – FNW/Léa minerve

The protest was largely ignored by the many enthusiastic customers celebrating the event, which began on the sixth floor, in the area dedicated to Shein, with an introductory speech followed by a countdown marking the official opening of the doors. Once the symbolic ribbon had been cut, Frédéric Merlin, managing director of BHV and Société des Grands Magasins (SGM), led the first customers through the store, presenting the different areas before concluding the tour at the tills. Facing numerous journalists from around the world, he said he was “very pleasantly surprised to see the enthusiasm for this opening, which is attracting new customers as well as regular BHV customers.”

The event quickly took on the feel of mass consumption, somewhere between curiosity and a shopping frenzy.

The new 1,000-square-metre space, mainly dedicated to womenswear, occupies a large open area segmented into several zones. Shein does not, however, occupy the entire level: a small part of the sixth floor is still devoted to Christmas décor. But there was certainly no party atmosphere in that area on Wednesday.

There is no major retail innovation in the layout. But the range is clearly compartmentalised: casualwear, sportswear, formalwear and accessories. Around 80% of the items are aimed at a female clientele across different profiles, the remainder forming a more limited menswear offer: zip-up jumpers, cargo trousers and other casual basics.

Clothes are presented on simple shelves fixed along the walls, while in the centre more classic rails display the vast majority of pieces on hangers. The overall look is restrained and clearly easy to reconfigure, but the staging is elevated by carefully chosen furnishings: marble, stone or glass tables add a chic touch, complemented by tempered-steel details.

The spaces are structured by zone, identified by Shein sub-brands such as Aralina, Motf, Dazy and Anewsta, offering a clear read of the range and a more premium visual impression. Each has a staging area with mannequins and a product presentation space. A few comfortable armchairs dotted around allow visitors to take a break, a sign that the brand also wanted to enhance the visitor experience.

Shein teams at work
Shein teams at work – FNW OG

On price, the promise of accessibility is clear: from a sports bra at €7.49 to a Dazy down jacket at €127.49, the store’s most expensive item. Yet although around 6,000 items have been selected, there is no sign of the €2 or €3 pieces that also helped drive the brand’s online success. Each in-store product carries a QR code on its label linking to the product page on the brand’s website, where prices are sometimes much lower online.

Another of Shein’s digital promises that does not necessarily carry over into the physical world is its offer for all body types. Sizes range from XS to XL, a more limited choice than online.

It is worth noting that the store features few screens, contrary to what you might expect from an e-commerce player. Here, Shein is asserting a physical presence and the classic conventions of apparel retail.

Finally, the opening did not escape controversy: beyond the gatherings in front of the building and the significant police presence around the event, protesters entered the Shein area to brandish placards and shout slogans against the Chinese retailer.

Despite this, inside the crowds were out in force. Bags filled, rails emptied. Shein has made a successful entry into the physical world, with a concept calibrated to appeal to a broad audience.

But what about the other floors of the department store? Merlin said he expected very low footfall on Wednesday. To try to generate traffic, the department store promised a voucher equivalent to the amount of Shein purchases made on Wednesday. Given the lacklustre traffic on the other seven levels, the pulling power of Shein as a locomotive for the whole of BHV remains to be demonstrated.

With Olivier Guyot

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Elf Beauty slumps as tariff costs, muted consumer spending hit annual forecasts

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Elf Beauty slumps as tariff costs, muted consumer spending hit annual forecasts


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Reuters

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November 5, 2025

Elf Beauty forecast annual sales and profit below Wall Street estimates on Wednesday, as the cosmetics-maker grapples with higher tariff costs and cautious consumer spending, sending its shares tumbling 26% in extended trading.

Elf Beauty

The company, which provided its fiscal 2026 forecast after pulling it in May, also missed expectations for second quarter sales.

Elf Beauty expects more than $50 million in annual costs from higher U.S. tariffs on imports in fiscal 2026. China accounts for about 75% of the cosmetics-maker’s global production.

Gross margin fell about 165 basis points to 69% in the quarter ended September 30.

Tariffs have sharply reduced Elf’s margins, eMarketer analyst Rachel Wolff said, adding that the company is relying heavily on Rhode as sales for its namesake brand begin to slow. The firm acquired Hailey Bieber-owned Rhode earlier this year.

Elf has been streamlining its supply chain and diversifying operations as part of its tariff mitigation plans amid lower-income shoppers seeking cheaper alternatives and cutting back on non-essential purchases, including makeup and skincare.

The company’s quarterly adjusted earnings per share of 68 cents topped estimates of 57 cents following $1 price increases in August. Elf said it was not planning additional price increases.

The company’s quarterly sales of $343.9 million also missed expectations of $366.4 million.

“From a marketing standpoint, we had some massive launches last year… we feel great about our innovation this year, but it’s not as big as the lip oils were last year,” CEO Tarang Amin said in an interview with Reuters.

Last year, Elf was riding on the popularity of its lip oils, which launched in 2023, but gained traction and social media virality in early 2024, helping its shares touch a record high.

The company expects full-year net sales to be between $1.55 billion and $1.57 billion, compared with analysts’ estimates of $1.65 billion, according to data compiled by LSEG.

It estimated adjusted profit to be in the range of $2.80 to $2.85 per share, below estimates of $3.58 per share.

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Coty expects Q2 sales at top end of forecast on steady fragrance demand

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Coty expects Q2 sales at top end of forecast on steady fragrance demand


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Reuters

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November 5, 2025

CoverGirl-parent Coty forecast like-for-like sales for the second quarter at the top end of its prior outlook, betting on steady demand for Calvin Klein and Hugo Boss fragrances even as customers curb spending on broader makeup and skincare items.

Calvin Klein

The company had previously forecast second-quarter sales to fall between 3% and 5%.

Coty said earlier this year it has launched a strategic review of its beauty business that could lead to the sale of brands such as Rimmel and CoverGirl, as it aims to refocus on its fragrances segment amid persistently weak demand for color cosmetics.

Fragrances and scenting is a very resilient category for Coty, and is performing well across the spectrum from $5 mass options to ultra-premium at $500, Chief Financial Officer Laurent Mercier said in an interview with Reuters.

Last week, peer Estee Lauder also signaled strong demand for its fragrances and an uptick in China.

Coty, however, missed first-quarter profit estimates as retailers cut back on orders amid ongoing macroeconomic and tariff uncertainty.

French beauty conglomerate and industry leader L’Oreal, which is set to buy Kering‘s beauty business, including rights to Gucci, reported weaker-than-expected third-quarter sales last month, weighed down by its performance in North America and Latin America.

Coty, which currently holds the licensing to Gucci Beauty, will continue to operate the brand for the term of the agreement, Mercier said.

The company posted adjusted profit per share of 12 cents during the first quarter, compared with analysts’ average estimate of 15 cents, according to data compiled by LSEG. Its net sales fell 6% to $1.58 billion.

For the second quarter, it forecast adjusted profit between 18 and 21 cents per share, while analysts expected 19 cents. Coty shares have fallen nearly 46% so far this year.

© Thomson Reuters 2025 All rights reserved.



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