Michael Kors has reached a deal to buy its smaller luxury segment peer Jimmy Choo for almost £900 million, well above the £800 million that was expected. It plans fast expansion and a move into new fashion product areas.
London's luxury shopping appeal was underlined Monday on news that a private jet firm has seen surging demand for London flights as even wealthy shoppers take advantage of post-Brexit vote luxury bargains.
As part of its review of Amazon's agreement to buy Whole Foods, the Federal Trade Commission is looking into allegations that Amazon misleads customers about its pricing discounts, according to a source.
Unilever did well in the first half on the back of cost cuts and some good brand performances. Its Dove, Sunsilk, Dermalogica, Dollar Shave Club and Living Proof brands all continued to grow strongly during the half.