Unilever (ULVR.L) is paying $1.5 billion (1.09 billion pounds) to buy men’s personal care brand Dr Squatch from private-equity firm Summit Partners, the Financial Times reported on Friday, citing sources.

The deal was announced earlier this week by all three parties, without disclosing financial details.

Unilever reiterated on Friday that it will not disclose the terms of the deal, while Summit Partners did not immediately respond to a Reuters request for comment outside of regular business hours. Reuters could not immediately verify the FT report.

Reuters reported last year that Summit was exploring a sale of the men’s grooming brand at a valuation of more than $2 billion.

Launched in 2013 by founder and CEO Jack Haldrup, and named after the mythical creature Sasquatch, Dr Squatch started out by selling handmade bar soaps for men.

The Los Angeles-based company currently sells deodorant, hair care products, colognes, lotions and other personal care products through its website and at brick-and-mortar stores.

Unilever said earlier that the acquisition of Dr Squatch would complement its men’s personal care offerings, which include Axe and Dove Men+Care deodorants, and that it would scale Dr Squatch internationally.

News Credits- Reuters

A key component of Vision 2030, the NIDLP, aims to boost the logistics sector’s GDP contribution from 6% to 10% by 2030

Fuelled by the National Industrial Development and Logistics Program (NIDLP) under Vision 2030, Saudi Arabia’s logistics and warehousing sector is rapidly expanding, driven by a booming e-commerce market and increasing demand for Grade A warehousing, according to leading real estate expert JLL.

A key component of Vision 2030, the NIDLP, aims to boost the logistics sector’s GDP contribution from 6% to 10% by 2030, and localise 70% of the supply chain, it stated.

In the JLL report, titled ‘Emerging Trends Shaping Saudi Arabia’s Logistics and Warehousing Market,’ it unveils the key factors driving this growth, along with the challenges and opportunities in powering the Kingdom’s ambition to become a global logistics hub.

It also highlights significant interest and investment from both domestic and international institutional players, recognising the industrial and logistics sectors as key pillars of the Kingdom’s economic diversification strategy.

This ambitious growth is catalysed by Saudi Arabia’s Vision 2030, which aims to position the kingdom among the top 10 countries in the Logistics Performance Index, and the NDLP agenda, which aims to boost the sector’s GDP contribution and localise 70% of the supply chain, said JLL in its whitepaper.

Saudi Arabia is laying the foundation for a robust and efficient logistics ecosystem through substantial investments in transportation infrastructure, streamlined processes, and regulatory frameworks, it added.

Abhishek Mittal, Head of Industrial Advisory, Mena at JLL said: “Saudi Arabia’s position as a global logistics hub offers unparalleled access to a growing consumer market spanning three continents, making logistics and warehousing vital for high-growth sectors.”

“Guided by Vision 2030, the Kingdom is strengthening its logistics infrastructure and transportation network, prioritising sustainability, and building strong local partnerships for seamless global commerce,” stated Mittal.

“This agile and resilient network facilitates efficient movement of resources, offering investors significant opportunities to capitalise on reduced costs, efficient supply chains, and increased access to a vibrant and growing market,” he added.

JLL’s new whitepaper details that among the key drivers fuelling demand for industrial and Logistics in the Kingdom are the establishment of strategically located Special Economic Zones (SEZs) and industrial cities.

While 36 industrial cities offer ready-built factories, warehouses, and logistics facilities, attractive incentives and tax breaks at King Abdullah Economic City (KAEC), King Salman Energy Park (Spark), and Jazan Economic City (JEC), are creating clusters of economic activity and driving investment and innovation.

This dynamic environment attracts significant capital from global institutional investors, who are moving away from traditional Grade B/C warehouses, which currently comprise about 90% of the market.

The logistics and industrial real estate market is benefiting from Saudi Arabia’s position as the largest e-commerce market in the GCC, supported by high internet penetration (97%), a young and tech-savvy population, and a growing consumer preference for online shopping.

Modern commerce and e-commerce are expected to contribute around 80% to the retail sector by 2030, stimulating significant demand for modern warehouses, strategically located fulfilment centres, and last-mile delivery hubs, it stated.

In its whitepaper, JLL reveals a noticeable shift towards sophisticated Grade A facilities as global institutional investors across industries, including DP World, Gulf Islamic Investments, Arcapita Capital Company, and AP. Moller–Maersk demands built-to-suit warehouses, cold storage facilities, and last-mile delivery hubs, demonstrating confidence in the Saudi market.

Meanwhile, investment trends in e-commerce warehousing are also shifting with institutional investors and real estate developers focusing on built-to-suit logistics parks catering to e-commerce and retail tenants, and real estate investment trusts (REITs) allocating more capital toward logistics assets.

The whitepaper identifies the key industries of food and pharmaceuticals as leading the demand for specialised logistics solutions, including cold chain storage and temperature-controlled warehousing.

While the opportunities are significant, the JLL whitepaper also highlights the challenges facing companies, especially with the broader industry shift towards sustainability.

Traditionally energy-intensive, Saudi Arabia’s industrial and logistics sectors must align with national sustainability goals under Vision 2030 to reduce environmental footprint and achieve long-term savings, said JLL in a statement.

Companies that successfully navigate this transition will be well-positioned to thrive in the evolving Saudi market, it added.

The unprecedented construction boom in Saudi Arabia, aligned with Vision 2030, has injected around $850 billion into the construction industry, presenting unique challenges for global supply chains.

To strengthen supply chain resilience, businesses and investors are adopting proactive strategies such as supply chain diversification, investing in local manufacturing to enhance self-sufficiency, implementing best practices to optimise inventory and minimise lead times, and streamlining operations by embracing digitalisation, including RFID tracking and GPS monitoring.-TradeArabia News Service

News Credits- ZAWYA BY LSEG

China-founded fast-fashion retailer Shein plans to file a draft prospectus confidentially for its Hong Kong listing, marking a rare departure from the usual practice of companies making public filings of IPO documents, three sources with knowledge of the matter said.
Shein aims to submit the filing confidentially as soon as this week, one of the sources said. A second source said the filing was expected to be made by Monday.

Shein’s confidential filing, if approved, would represent a waiver of one of the main listing rules by the Hong Kong exchange for one of the world’s most closely-watched IPO candidates, and possibly the largest in the city this year, two of the sources said.

The filing will come as the company, which sells low-priced apparel such as $5 dresses and $10 jeans in around 150 countries, makes its third attempt to go public, more than 18 months after it first filed for a U.S. IPO in late 2023.

Confidential filings enable companies to keep vital operational and financial information under wraps for longer and allow them to go through the regulatory review process without public disclosure.

Hong Kong’s listing rules permit confidential filings for secondary listings by companies already listed on recognised overseas exchanges, such as the New York Stock Exchange or Nasdaq.

The exchange could also waive or modify the publication requirements in a spinoff from an overseas listed parent upon application by a new applicant, the listing rules show.

While this practice is common for IPO applicants in the U.S., it remains relatively rare in Hong Kong, where high-profile IPOs have included Chinese tech giants Xiaomi (1810.HK), and Meituan (3690.HK) which both filed publicly for their floats.

The sources spoke to Reuters on the condition of anonymity as they were not authorised to speak to the media.

Shein, founded by China-born entrepreneur Sky Xu, did not reply to a request for comment. The Hong Kong stock exchange declined to comment on individual companies.

Documents, including financials, related to Shein’s IPO will remain undisclosed until the company passes a hearing with the Hong Kong stock exchange, which is the final step in the city’s regulatory approval process.

Prior to that final step, Shein must secure an approval from the China Securities Regulatory Commission (CSRC) to go ahead with the Hong Kong IPO. It is not known if Shein has already secured a verbal nod from the Chinese securities regulator.

The CSRC did not respond to Reuters request for comment.

Reuters first reported last month, citing sources, that Shein was working towards a listing in Hong Kong after its proposed London IPO failed to secure the green light from Chinese regulators.

The New York attempt also did not receive CSRC approval, Reuters previously reported.

REGULATORY APPROVAL

Shein’s confidential submission of the prospectus enables Hong Kong and mainland Chinese regulators to assess the IPO application, raise their questions to Shein and prepare it for regulatory approval privately, the sources said.

The regulators would be able to do that before public, including potential institutional investors’, scrutiny of its application materials, including risk factors, they added.

The filing would come against the backdrop of Shein grappling with the knock-on impacts of the Sino-U.S. trade war after U.S. President Donald Trump ended duty-free treatment of ecommerce parcels and hiked tariffs on Chinese goods, hurting its business in the U.S., its biggest market.

Shein was valued at $66 billion during its pre-IPO fundraising round in 2023, down by a third from a funding round one year earlier. Its eventual IPO valuation will hinge on the impact of the tariff changes, sources have said.

RISK DISCLOSURES

A Shein listing would help Hong Kong, which saw $12.8 billion worth of IPOs and second listings in the first half, re-establish its credibility as a global fundraising centre at a time of major volatility stoked by U.S. trade policy changes.

Shein, founded in mainland China in 2012, is hoping to succeed in Hong Kong after failed attempts to list in New York and then London, where Britain’s financial regulator approved the listing.

Shein will have to file with the CSRC within three working days after submitting its IPO application in Hong Kong, in line with Beijing’s rules for Chinese firms seeking offshore listings.

Shein shifted headquarters from China to Singapore in 2022 and does not own or operate any factories, but remains subject to Chinese IPO rules because its products are mostly made by a network of 7,000 third-party suppliers in China, sources have said.

The CSRC applies the rules on a “substance over form” basis, granting it discretion on when and how to implement them.

A draft prospectus would normally disclose key risks to a company including those linked to its supply chain.

Shein has faced allegations from politicians and campaigners that its supply chain in China is linked to forced labour of Uyghur minorities in Xinjiang, a highly contentious issue for Beijing, which denies any abuses in the cotton-producing province.

The U.S. has a ban in place on imports of products made using forced labour from Xinjiang, and Shein has said it does not allow its suppliers to use Chinese cotton in U.S.-bound products.

Shein has said its supplier code of conduct prohibiting forced labour applies worldwide.

News Credits- Reuters

Nike (NKE.N) said it would cut its reliance on production in China for the U.S. market to mitigate the impact from U.S. tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue, sending its shares up 11% in extended trading.

U.S. President Donald Trump’s sweeping tariffs on imports from key trading partners could add around $1 billion to Nike’s costs, company executives said on a post-earnings call after the sportswear giant topped estimates for fourth-quarter results.

China, subject to the biggest tariff increases imposed by Trump, accounts for about 16% of the shoes Nike imports into the United States, Chief Financial Officer Matthew Friend said.
But the company aims to cut the figure to a “high single-digit percentage range” by the end of May 2026 as it reallocates China production to other countries.

“We will optimize our sourcing mix and allocate production differently across countries to mitigate the new cost headwind into the United States,” he said on a call with investors.

Consumer goods is one of the most affected areas by the tariff dispute between the world’s two largest economies, but Nike’s executives said they were focused on cutting the financial pain.

Nike will “evaluate” corporate cost reductions to deal with the tariff impact, Friend said. The company has already announced price increases for some products in the U.S.

“The tariff impact is significant. However, I expect others in the sportswear industry will also raise prices, so Nike may not lose much share in the U.S.,” said David Swartz, analyst at Morningstar Research.

RUNNING FINDS ITS FOOTING

CEO Elliott Hill’s strategy to focus product innovation and marketing around sports is beginning to show some fruit with the running category returning to growth in the fourth quarter after several quarters of weakness.

Having lost share in the fast-growing running market, Nike has invested heavily in running shoes such as Pegasus and Vomero, while scaling back production of sneakers such as the Air Force 1.

“Running has performed especially strongly for Nike,” said Citi analyst Monique Pollard, adding that new running shoes and sportswear products are expected to offset the declines in Nike’s classic sneaker franchises at wholesale partner stores.

Marketing spending was up 15% year-on-year, opens new tab in the quarter. On Thursday, Nike hosted an event in which its sponsored athlete Faith Kipyegon attempted to run a mile in under four minutes.

Paced by other star athletes in the glitzy and live-streamed from a Paris stadium, Kipyegon fell short of the goal but set a new unofficial record.

Nike forecast first-quarter revenue to fall in the mid-single digits, slightly better than analysts’ expectations of a 7.3% drop, according to data compiled by LSEG.

Its fourth-quarter sales fell 12% to $11.10 billion, but still beat estimates of a 14.9% drop to $10.72 billion.

China continued to be a pain point, with executives saying a turnaround in the country will take time as Nike contends with tougher economic conditions and competition.

The company’s inventory was flat year-over-year at $7.5 billion as of May 31.

Author Credits- Juveria Tabassum and Helen Reid
Reuters

With Middle East airspace reopening and a U.S.-brokered ceasefire between Israel and Iran appearing to hold, the luxury sector continues relying on the region’s wealthy shoppers to help offset weakness in its main U.S. and Chinese markets — for now.

The Middle East, helped by strong tourist flows and local wealth, has bucked a recent global slowdown in luxury sales that is expected to deepen this year, with some brands growing sales there at double-digit rates.

Luxury sales in Gulf countries were up 6% to $12.8 billion of the nearly $400 billion market last year, outpacing a global drop of 2%, with strong appetite for high-end fashion, jewelry and beauty products, retail consultant Chalhoub Group said.

However, that trade is heavily dependent on the region’s burgeoning tourist market, with consulting firm Bain estimating that some 50–60% of the Middle East’s luxury sales come from tourists.

This month’s outbreak of an air war between Israel and Iran emphasized the ongoing risks in a region where unrest was already simmering, with airlines canceling flights and rerouting planes following Israel’s strikes against Iran on June 13 — measures that are now being unwound.

“At this point, we have not adjusted our long-term growth forecast, as we continue to see considerable potential in the region,” said Federica Lovato, senior partner at Bain.

“However, short-term volatility has increased in the last few weeks and may continue, depending on how the situation develops.”
The region is an important hub for travel spending, favored by Russian oligarchs and wealthy Asians alike, and has increased in importance since Russia’s invasion of Ukraine triggered sanctions and the rerouting of flights between Europe and Asia from more northerly routes to the Middle East.

It also serves as a gateway for high-end brands to reach wealthy shoppers from India, where high tariffs have kept companies like LVMH from expanding store networks.

Max Heinemann, co-CEO of travel retail group Gebr. Heinemann, which recently expanded into Saudi Arabia and operates airport fashion retail stores carrying luxury brands in Jeddah, said the region’s travel market has shown long-term resilience despite unrest. He remains optimistic. “Dips may occur, but long-term growth is expected,” he said.

At Prada, first-quarter sales in the region rose 26% year-on-year, while Hermès’ sales there were up 14%.

High-end fashion and jewelry brands have been opening new stores and hosting splashy events. Milan-based menswear label Zegna this month took its spring collection to the opera house in Dubai, the region’s leading luxury hub, for a catwalk show set in an elaborate space evoking an Italian villa.

Elie Saab celebrated its 45th anniversary with a show in Riyadh last November, featuring a performance by Celine Dion.

Dior, Saint Laurent and Valentino opened stores in Bahrain last year, while this year, Louis Vuitton brought guests to the Dubai desert for a dawn meal, and Chanel hosted a dinner in Abu Dhabi tied to a high jewelry launch.

But maintaining visitor numbers to Middle Eastern destinations will be vital to bringing shoppers through the doors. Luxury travel agency Global Travel Moments said that for now, its long-term travel volumes to the Middle East have been unaffected by the latest unrest.

However, given recent events, there is currently “certainly more caution” before finalizing trips to the broader Middle East, it said.

News Credits- FASHION NETWORK

Woolworths Group Ltd (ASX: WOW) shares are slipping today.

Shares in the S&P/ASX 200 Index (ASX: XJO) supermarket giant closed yesterday trading for $31.45. In morning trade on Friday, shares are changing hands for $31.36 apiece, down 0.3%.

For some context, the ASX 200 is up 0.5% at this same time.

Here’s what’s catching investor interest today.

Woolworths shares to drop MyDeal exposure

In an announcement this morning, marked as non-price sensitive for Woolworths shares, the company said it plans to close its struggling MyDeal customer website by 30 September. Over the past several quarters, the supermarket giant has reported a decline in its MyDeal Gross Merchandise Value (GMV).

Woolies said the closure will enable it to give a stronger focus on its retail marketplace offer into BIG W Market and Everyday Market (on woolworths.com.au). The company said it aims to “leverage its strong traffic growth on existing digital properties”.
However, Woolworths shares could be catching some headwinds today, with the cash cost of the closure expected to be in the range of $90 million to $100 million. Management noted that this includes the payment for the remaining outside equity interest under existing put and call arrangements, as well as redundancies resulting from the closure.

Atop the cash cost, Woolies cited a non-cash cost of around $45 million. That’s primarily related to the impairment of MyDeal’s assets.

What did management say?

Commenting on the MyDeal closure and its potential impact on Woolworths shares, CEO Amanda Bardwell said, “In February we said that we would assess the shape of the group portfolio to address areas where there was not a clear path to profitability or the prospect of a reasonable return on capital.”

She added that MyDeal has delivered “marketplace expertise and leading technology to the group’s marketplace platform”, but the website is still now in its last days.

According to Bardwell:

Given the intensely competitive environment and the superior economics of marketplaces integrated into retail brands, we have made the decision to close the MyDeal customer website. The closure of MyDeal will lead to a meaningful reduction in Woolworths MarketPlus operating losses once completed.

Woolworths MarketPlus will continue to leverage the MyDeal technology platform, seller relationships and capabilities to grow the Group’s BIG W Market and Everyday Market retail banners.

The ASX 200 supermarket said it will provide more details on the one-off costs associated with the MyDeal closure when it releases its FY 2025 results in August.

With today’s intraday dip factored in, Woolworths shares are up just over 3% year to date.

Author Credits- Bernd Struben
msn

South Africa government backs local brands in eCommerce push

South Africa is about to get a major digital boost. The government, through Proudly SA and the Department of Trade, Industry & Competition, is launching two new eCommerce platforms next week, July 1: Shop Proudly SA (for consumers) and Market Access Platform (MAP) (for businesses). This move is aimed at promoting local products, supporting small enterprises, and boosting job creation, a timely push amid growing calls to support homegrown brands.

These sites will host 1,700+ locally made products, making it easier for shoppers and procurement officers to find and purchase South African. The idea: strengthen local manufacturing, reclaim market share from cheaper imports, and help SMBs penetrate bigger markets, a localised twist on normal online marketplaces.

Big players like Takealot and incoming Amazon shouldn’t be shaken… yet. While Takealot dominates locally (66% of online shoppers used it in 2024, these new platforms carve out a space for South African goods. That said, Takealot and Amazon are key drivers of eCommerce growth: South Africa’s online market reached $35 billion in 2024 and is projected to hit $75 billion by 2033. Consumer trust plus mobile-first habits (60% of online buys via phone) work in the giants’ favour.

Still, local platforms may thrive. Why? South Africans reportedly prefer local clothing brands (74%) and often back homegrown names, especially post-pandemic. And with global entrants like Amazon and Temu entering the fray, these new government-backed platforms could tap into rising nationalist consumer sentiments.

For branding giants like Amazon, this means more competition but also opportunity. If the government solutions prove slow or limited in selection, shoppers could still turn to Takealot or Amazon for broader choices and faster delivery.  Plus, MAP might complement Amazon’s B2B outreach, especially as corporates seek local suppliers.

In short, government eCommerce enters the mix with local empowerment top of mind. Whether it flourishes depends on visibility, trust, and how well it meets logistical and marketing needs. Given South Africa’s deep mobile Internet usage (~75%) and rising online purchase comfort, this initiative aligns with broader trends, but it faces stiff competition from established local and global platforms.

Author Credits- Victoria Fakiya
Techpoint.africa

MILAN – Italian fashion brand Roberto Cavalli is assessing “strategic partnerships” as part of growth options, the company said on Tuesday, after Italian media reported that its owner was exploring a sale or opening up to an outside investor.

“Cavalli is working to find the best path to growth, which includes exploring strategic partnerships. This process will be carried out with the participation of all relevant stakeholders”, a statement said.

The company is owned by Auriel Investment SA, controlled by Dubai’s Hussain Sajwani.

News Credits- Reuters

Saudi Arabia has announced a major overhaul of its retail regulations, banning small grocery stores/convenience stores, commonly referred to as baqalas, from selling a wide range of everyday items, including tobacco products, fresh produce, and meat. The decision, issued by the Minister of Municipalities and Housing, Majed Al-Hogail, was confirmed in a report by Saudi Gazette and takes immediate effect, although existing stores will be given a six-month grace period to comply.

The new regulations affect kiosks, grocery stores, and mini markets, which are now prohibited from selling:

These items are now restricted to larger retail outlets, such as supply stores (supermarkets) and hypermarkets, with an additional licensing requirement for the sale of meat.

Where These Products Can Now Be Sold

While baqalas and smaller outlets face tighter restrictions, the government has clarified where these goods can still be legally purchased:

This approach, according to the Ministry, aims to aimed at reorganising the retail sector, streamline retail practices, improve health standards, and ensure a better classification of store types based on size and services.

New Space Requirements for Retailers

In addition to the ban on certain items, the amended regulations also establish minimum floor space requirements for different types of stores:

These space requirements are intended to standardize retail environments and further distinguish between small, mid-sized, and large retail businesses in terms of the services and range of products they are allowed to offer.

The government has emphasized that although the rules are immediately enforceable, baqalas and other affected establishments will have up to six months to adjust their operations to become compliant. This transitional period is aimed at reducing the economic burden on small retailers and allowing for a smoother enforcement process.

News Credits- msn