Monthly Archives: November 2024

Coca-Cola plans cane-sugar Coke as higher prices boost profits

July 23, 2025Latest NewsAdmin

Coca-Cola’s (KO.N) quarterly estimates beat expectations, the company said Tuesday, boosted by higher prices even as volumes dropped in key markets, while the company said it would introduce a Coke product made with cane sugar in the United States.

Higher prices offset slippage in volumes, which fell 1% after rising 2% each in the previous two quarters, largely due to declines in key markets such as Mexico and India, as well as in its Coca-Cola brand in the U.S. Excluding items, the company earned 87 cents per share, beating estimates of 83 cents.

Demand for pricey sodas has remained choppy in recent quarters, especially in wealthier countries, with lower-income consumers turning more price-conscious.

Food companies are seeking healthier substitutes as they respond to Health Secretary Robert F. Kennedy Jr.’s Make America Healthy Again campaign. Last week, President Donald Trump said Coca-Cola had agreed to use real cane sugar in the U.S.

Coca-Cola is looking to use “the whole toolkit available of sweetening options” where there is consumer demand, CEO James Quincey said on a post-earnings call. The company said such a product would “complement” its existing products.

Rival PepsiCo (PEP.O) which topped quarterly earnings estimates last week, also said it would use natural ingredients if consumers wanted them.

Coca-Cola already sells Coke made from cane sugar in other markets, including Mexico, and some U.S. grocery stores carry glass bottles with cane sugar labeled “Mexican” Coke.

Sean King, an analyst at Columbia Threadneedle, said the company already uses cane sugar in its other brands.

On the call, Quincey said the company uses cane sugar in some of its lemonades, coffees and its Vitamin Water brand.

While there are some slight differences between cane sugar and corn syrup as sweeteners, experts have said too much of either is not good for consumers.

However, the switch to cane sugar will also drive up costs, including significant adjustments to supply chains, industry analysts said. Higher-priced goods might also stretch consumer budgets, as Quincey said North America volumes fell “due to the continued uncertainty and pressure on some socioeconomic segments of consumers.”

Coca-Cola reiterated that the hit to costs due to “global trade dynamics” remained manageable. About 61% of its revenue comes from overseas markets.

The company has said it would look at affordable packaging options such as plastic bottles when Trump imposed a 25% duty on aluminum imports. As of June, tariffs on aluminum imports have hit 50%.

HIGHER PRICING OFFSETS VOLUME HIT

The company’s comparable revenue rose 2.5% to $12.62 billion in the three months ended June 27, beating estimates of $12.54 billion, according to data compiled by LSEG.

Quincey said a boycott-related hit to demand in the U.S. and Mexico was now largely resolved.

North America volumes fell in the first half of the year, mostly due to Hispanic consumers in the U.S. and Mexico boycotting Coca-Cola’s legacy brands after a viral video of the company laying off Latino staff and reporting them to Immigration and Customs Enforcement (ICE).

Reuters in February found no public evidence that the company had reported its migrant employees to ICE.

Prices rose 6% overall in the second quarter, led by increases in some inflationary markets.

“While (the U.S. cane sugar product launch) made headlines, the real story is that growth was due more to increased price changes and not volumes sold,” said Jay Woods, chief global strategist at investment banking firm Freedom Capital Markets.

Annual comparable earnings per share is expected to be near the top end of its target of a 2% to 3% rise, helped by a weaker dollar.

Coca-Cola Zero Sugar was a bright spot, with volumes jumping 14% on growth across all geographies.

Coca-Cola’s shares were down 0.6% at $69.61 in afternoon trading.

Author Credits- Juveria Tabassum
Reuters

The South African who sold his e-commerce business to Naspers and founded a major fintech platform

July 23, 2025Latest NewsAdmin

After building what eventually became one of the fastest-growing e-commerce startups in South Africa, Trevor Gosling sold it to Naspers and founded Lula, a business that provides funding to small businesses.

Gosling attended Benoni High School from 1995 to 2000 before enrolling in the University of Pretoria to study accounting.

After graduating in 2004, he completed his articles at KPMG in Johannesburg before moving to RMB to pursue investment banking.

This career path would eventually take him overseas to the UK, where he worked at Goldman Sachs for a year before returning to South Africa and RMB.

After spending more time in the banking industry, Gosling launched a venture in 2012 called 5Ounces, a business that flash-sold fine wine, beers, and gourmet food products.

Gosling said he grew up in a family of entrepreneurs. His parents owned pharmacies, and extended family members were all business owners.

“While I was still in investment banking, my brother founded what became Groupon South Africa along with his business partner,” Gosling told CNBC Africa.

“I saw the aggressive growth, especially in the digital space in South Africa, and that really prompted me to get out of investment banking and launch my own venture.”

Gosling says that 5ounces saw promising growth in its early stages, and Naspers approached it in its second year, looking to acquire it.

He said this was a positive sign as he had built it up with the vision of a big corporate taking over the reins in future.

The business was eventually sold to Naspers in 2013, with him staying on for another year as CEO before exiting the business.

Gosling said that after working in e-commerce, he wanted to return to finance, where he had worked for most of his corporate career, and use his technology skills from 5ounces to start a new venture.

He came across fintech as a potential sector to enter, which was still in its infancy in South Africa at the time.

“One fintech model that stuck out to me as something that was needed in South Africa was using technology to provide quick and easy finance to small and medium-sized enterprises,” he said.

“At that point, I saw a stat that said 90% of South African SMMEs were unable to access funding through traditional institutions, and I thought this is a huge problem that needs to be solved.”

Starting Lula

Gosling says that traditional financial institutions aren’t set up to be able to fund SMMEs, given that the banking network infrastructure is set up and the risk involved in financing these ventures.

He says the only way to solve this issue is to use automation to drive down the cost of funding and scale the business model.

“I knew I needed a quality CTO on board, which is where my business partner Neil Welman came in,” Gosling said in a News24 interview.

“I needed help developing the platform and all the ideas. Neil is excellent on the tech side, and then I bring the more commercial and business side to things.”

To fund the business, Gosling approached local investors and got a venture capital firm on board, but seed investment from European investors who had seen the potential for this model before.

The business was launched as LulaLend in 2015, later rebranding as Lula, and initially focused on its ability to automate analysing the risk of providing a business with funding.

Gosling said the early days of the business were tricky as they did not know how the funding provided to companies would perform.

However, using its technology, it constantly improved its analysis of companies to provide more accurate funding.

“At the same time, we’ve developed a bit of a track record that’s given investors more confidence in us as a business, who have provided us with additional capital to grow,” Gosling says.

Lula provides funding of up to R5 million and has gone on to fund hundreds of businesses since its launch.

Author Credits- Daniel Puchert
MY BROADBAND

Dollarama’s Strategic Acquisition of The Reject Shop and Its Implications for Global Value Retail

July 23, 2025Featured, Latest NewsAdmin

The acquisition of The Reject Shop Limited by Dollarama Inc. in July 2025 marks a pivotal moment in the evolution of global value retail. By securing Australia’s largest discount retailer, Dollarama has not only expanded its geographic footprint but also demonstrated a masterclass in leveraging cross-border synergies to create long-term value. This move, however, is not merely a transactional exercise—it is a strategic recalibration of the company’s global ambitions, underpinned by a deep understanding of market dynamics, operational efficiency, and consumer behavior.

The Strategic Rationale: A Calculated Leap into Australia

The Reject Shop’s acquisition was structured as an all-cash deal, with Dollarama paying A$6.68 per share, a 108% premium over The Reject Shop’s 20-day volume-weighted average price. This valuation, while aggressive, reflects the target’s robust performance: The Reject Shop reported consolidated sales of A$866 million for the year ending December 2024, with a gross profit margin of 40.64% and EBIT growth of 16.2% in H1 2025. Dollarama’s ability to secure such an asset at a premium is a testament to its confidence in the scalability of the Australian dollar-store model, particularly in a market where offline retail still accounts for 88.56% of total sales.

The strategic rationale is rooted in complementary strengths. The Reject Shop’s 390+ stores, strategically located in high-traffic urban and suburban areas, align with Dollarama’s expertise in high-turnover inventory and cost control. Australia’s dollar-store sector, projected to grow at a 3.3% CAGR through 2025, is being driven by inflationary pressures and a shift toward private-label products. Dollarama’s integration of its global sourcing network and margin management expertise could further compress costs, a critical differentiator in a sector with razor-thin margins.

Cross-Border Synergies: Operational and Supply Chain Advantages

The acquisition’s true value lies in its operational and supply chain synergies. Dollarama’s experience in Canada and Latin America—where it operates over 1,300 stores and owns the discount chain Dollarcity—provides a proven playbook for optimizing inventory turnover and reducing procurement costs. The Reject Shop’s existing infrastructure, including its 1.5% comparable store sales growth in H1 2025, offers a ready-made platform for these efficiencies.

Moreover, the combined entity can leverage economies of scale in sourcing, logistics, and technology. For instance, The Reject Shop’s reliance on national brands could be complemented by Dollarama’s private-label expertise, which has historically driven higher margins. The integration of digital tools—such as mobile apps and online ordering—further enhances the omnichannel experience, a critical factor in retaining Gen Z and millennial shoppers.

Long-Term Market Expansion: Beyond Australia

While the Australian market is a cornerstone of Dollarama’s strategy, the company’s ambitions extend far beyond its new acquisition. The expansion of The Reject Shop’s store count from 390 to 700 by 2034 is a bold but achievable target, particularly given Australia’s demographic trends and the growing demand for affordable goods. However, the true test of Dollarama’s vision lies in its ability to replicate this success in other markets.

In Latin America, Dollarama has already increased its stake in Dollarcity, a discount retail chain projected to double its store count in Colombia, Peru, El Salvador, and Guatemala by 2030. This expansion is underpinned by similar macroeconomic factors driving growth in Australia: inflationary pressures, rising income inequality, and a shift toward value-driven consumption. The company’s recent foray into Mexico, though not yet detailed, signals a commitment to leveraging its North American success in new markets.

Risks and Mitigations: A Cautionary Lens

No acquisition is without risk. Integrating The Reject Shop into Dollarama’s operational model requires careful execution to avoid cultural clashes or operational friction. Australia’s retail landscape is also fiercely competitive, with established players like Aldi and Wesfarmers (owner of Kmart) aggressively expanding their value offerings. Dollarama’s reliance on physical retail—while currently well-positioned—could become a liability if online retail accelerates faster than anticipated.

However, the company’s financial strength mitigates these risks. The Reject Shop’s balance sheet, with A$75 million in cash and no debt, provides a buffer for strategic investments. Dollarama’s funding of the acquisition through cash reserves and its revolving credit facility ensures minimal immediate impact on its net earnings per share or adjusted net debt-to-EBITDA ratio.

Investment Thesis: A Compelling Case for Long-Term Value

For investors, the acquisition represents a compelling case for long-term value creation. The integration of supply chain synergies, operational efficiencies, and economies of scale supports margin expansion and growth potential in a market with a decade-long runway. Dollarama’s diversification across Canada, Latin America, and Australia reduces regional economic risks, making it a well-positioned player in the global value retail competition.

Moreover, the company’s track record of disciplined capital allocation and margin management—evidenced by its consistent EBIT growth in Canada—suggests that the Australian acquisition will be no different. The projected 7.34% CAGR in Western Australia’s dollar-store market further underscores the long-term sustainability of the model.

Conclusion: A Blueprint for Global Value Retail

Dollarama’s acquisition of The Reject Shop is more than a regional expansion—it is a blueprint for global value retail in an era of rising inflation and shifting consumer preferences. By combining The Reject Shop’s established presence with Dollarama’s operational rigor, the combined entity is well-positioned to dominate the Australian dollar-store sector while laying the groundwork for further international expansion. For investors, this represents a rare opportunity to participate in a company that is not only adapting to macroeconomic tailwinds but actively shaping the future of retail.

Author Credits- Edwin Foster
AINVEST

Pepkor shareholder raises $1.5 billion selling its entire stake

July 23, 2025Featured, Latest NewsAdmin

Ibex Investment Holdings Ltd., formerly known as Steinhoff International, raised 26.6 billion rand ($1.5 billion) by selling its stake in Africa’s largest clothing retailer, Pepkor Holdings Ltd.

The company sold 1.045 billion shares of Pepkor at a discount of about 6% to the last closing price, according to terms seen by Bloomberg. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Investec Plc managed the share sale.

Ibex has been restructuring since Steinhoff, the former owner of Conforama in France and Mattress Firm in the US, collapsed after auditors refused to sign off on its financial statements in late 2017. That led to police and regulatory investigations in both Europe and South Africa. A forensic probe by auditor PwC uncovered €6.5 billion ($7.6 billion) of irregular transactions with eight firms over eight years.

Steinhoff changed its name to Ibex in 2023. The business holds the Pepkor stake through its wholly-owned unit Ainsley.

News Credits- FASHION NETWORK

E-commerce fuelling air cargo growth in India

July 22, 2025Featured, Latest NewsAdmin

An e-commerce boom is set to become the primary driver of Indian air cargo growth with the contribution set to increase from the current $5 billion to $200 billion by 2030, according to experts.

With a 10 MTPA per annum cargo target by 2030, India is looking at tripling its current capacity in the next 6 years, with e-commerce, pharmaa and electronics set to be top contributors of air cargo growth, as per the estimates of Air Cargo Forum India (ACFI).

The rising demand for time-bound delivery is accelerating air freight use on domestic and international routes, and private operators like IndiGo CarGo and Blue Dart Aviation are expanding freighter fleets to meet growing E-commerce and Pharmaceutical demand. Private entities are adopting AI, IoT, robotics, and blockchain to optimise cargo handling, reduce errors, and enhance tracking, according to the knowledge paper released last week at the ACFI Annual Conclave 2025.

“India’s air cargo industry stands at a watershed moment. Fuelled by the explosive growth of e-commerce, increased global trade flows, and a maturing domestic supply chain ecosystem, air cargo is no longer a silent enabler; it has become a critical pillar of the national economy. With volumes scaling up steadily, the skies are emerging as corridors of speed and competitiveness,” said Sanjiv Edward President-ACFI CEO – Cargo and Logistics – GMR Group (DIAL).

The nation’s airports, from Delhi to Bengaluru, are evolving into critical nodes in the international supply chain, handling escalating export and import volumes with precision. This surge underscores the pressing need for strategic transhipment hubs and advanced transit facilities to ensure efficient connectivity.

However, challenges such as infrastructure limitations, regulatory bottlenecks, and inconsistent digital integration persist, hindering the sector’s full potential, said the players in the air cargo sector.

“By prioritising investments in modernised airport facilities, streamlined customs processes, and optimum digital platforms, India can address these constraints and elevate its air cargo capabilities. The establishment of dedicated cargo hubs, equipped with automated systems and enhanced intermodal connectivity, is essential to meet the demands of time-sensitive supply chains,” said Nivesh Chaudhary, Co-Founder and Managing Director Head, Strategic Advisory – Mobility and Supply Chain, ASCELA. ASCELA is a professional service company providing advisory services to organisations.

Author Credits- Richa Sharma
msn

US retail giant Costco to set up global capability centre in India, to employ 1000 people, sources say

July 22, 2025Featured, Latest NewsAdmin

HYDERABAD/BENGALURU – U.S. retailer Costco Wholesale Corp (COST.O) will open its first technology centre in India in Hyderabad, two people familiar with the plans told Reuters.

The Global Capability Centre, handling technology and research operations and working alongside global teams, will initially employ 1,000 people and scale up, sources said.

GCCs, which were once low-cost outsourcing hubs for global firms, have evolved over the last few years and are now used to support their parent organisations in multiple functions, including daily operations, finance, and research and development.

India is already home to some of the global marquee brands–having their GCC operations in India. This includes companies such as JPMorgan Chase (JPM.N) Walmart (WMT.N) and Target (TGT.N) in Bengaluru while Hyderabad also hosts companies such as McDonald’s (MCD.N) Heineken (HEIN.AS) and Vanguard Group.

The market size of India’s global capability centres (GCCs) is likely to grow to $99 billion-$105 billion by 2030 from $64.6 billion in fiscal 2024, according to a report by IT industry body Nasscom and consulting firm Zinnov released late last year.

Costco did not immediately respond to Reuters request for a comment.

Author Credits- Rishika Sadam and Sai Ishwarbharath B
Reuters

DHL eCommerce UK adds 30 bio-LNG-powered trucks to fleet

July 22, 2025Latest NewsAdmin

DHL eCommerce has doubled the size of its fleet of liquefied natural gas-powered (LNG) vehicles with the addition of 30 new Volvo FM trucks to its operations across Coventry, Leicester, Birmingham and Milton Keynes.

The trucks, which will replace diesel vehicles, will be used on routes throughout the UK and are expected to reduce DHL’s annual greenhouse gas (GHG) emissions by more than 1,000 metric tons of CO2e.

To support the expanded LNG fleet, DHL eCommerce UK is investing in additional refueling infrastructure, including a secondary bio-LNG tank at its new state-of-the-art hub in Coventry. The site will serve as a critical hub for DHL’s growing low-GHG-emissions operations in the Midlands and beyond.

Stuart Hill, CEO of DHL eCommerce UK, commented, “We’re delighted to expand our fleet with lower GHG emission vehicles and take diesel trucks off the roads. As a business, we are committed to being at the forefront of sustainable logistics so we will continue to make the necessary investments to reduce our GHG emissions footprint as we work towards our sustainability targets.”

This fleet investment forms part of DHL Group’s global sustainability strategy, which includes a commitment to reduce GHG emissions to net-zero by 2050.

Author Credits- HAZEL KING
Parcel and postal technology INTERNATIONAL

Myntra to Zepto, platforms cash in on cosmetics boom; K-beauty soars 75% on Amazon

July 21, 2025Featured, Latest NewsAdmin

Zepto co-founder Aadit Palicha last week announced the 10-minute delivery for luxury cosmetic brands– Estée Lauder’s M.A.C., The Ordinary and Clinique–on the platform.

From discounted offerings to previously elusive luxury and global brands, e-commerce and quick commerce platforms are witnessing a multifold surge in beauty and skincare product sales amid soaring demand.

In fact, capitalizing on this trend, Zepto co-founder Aadit Palicha last week announced the 10-minute delivery for luxury cosmetic brands– Estée Lauder’s M.A.C., The Ordinary and Clinique–on the platform.

After observing a surge in demand for existing beauty brands like Maybelline, Lakmé, and Faces Canada, Mamaearth, Renee, Swiss Beauty, and SUGAR Cosmetics, Zepto decided to expand its portfolio by including luxury brands as well, to offer users a wider range of options, said Devendra Meel, Chief Business Officer at Zepto.

According to a report by Bengaluru-based consultancy firm Redseer, India’s beauty industry is expected to reach $34 billion by 2028, driven by rising disposable incomes, increased consumer aspirations, and the influence of social media and e-commerce.

Highlighting changing consumer behaviour, Amazon Beauty, Director Siddharth Bhagat told Storyboard18 about a strong shift towards tech-enabled, trend-led and personalised experiences for the cosmetics and skincare products. He said that faster deliveries, influencer-driven discovery, and the rise of D2C and international brands are further fueling the momentum.

“Amazon has witnessed a 12x growth in cosmetics due to the recent success of newly launched brands in 2025,” Bhagat added.

Nykaa, the pioneer in building a beauty-centric digital commerce platform, said its beauty business has grown 25 percent on a year-on-year basis, recording a revenue of Rs 7,251 crore for fiscal year 2025. Nykaa’s beauty vertical includes e-commerce, physical retail, its house of brands, as well as an eB2B business.

Nykaa’s closest competitor, Myntra, has also ramped up its beauty segment on the platform to capitalise on the demand.

Deepak Joshi, Senior Director – Category Management, Beauty and Personal Care, Myntra said the platform’s dedicated ‘Beauty’ segment has outpaced the online beauty market by two-fold, registering more than 50 percent consistent year-on-year increase in monthly active users. “Currently, Myntra Beauty boasts more than 2,900 brands,” Joshi added.

‘Tier-2 demand surge’

Industry experts have acknowledged that tier-2 cities have emerged as a crucial market for platforms, driving demand for both affordable and premium cosmetics and skincare products.

Meel from Zepto said that while quick commerce has largely remained metro-centric, traction for beauty products has notably increased in Tier-2 cities as well.

Myntra’s Joshi also noted that nearly half of the beauty buyers on the platform come from tier-2 and tier-3 cities. Besides, He also mentioned that Myntra’s quick commerce service, M-Now, witnessed a 1.4x spike in demand for beauty products on Mother’s Day in 2025.

Notably, Vishal Chaturvedi, Vice President, The Body Shop, Asia South, said that quick commerce has delivered exceptional results for the company, almost doubling its growth compared to last year. “Our specially curated selection of packed gift boxes and mini packs has seen strong sales on the quick commerce platform,” Chaturvedi said.

‘Rise of K-Beauty’

In the competitive beauty market, digital commerce platforms have expanded their portfolio by adding luxury and premium beauty offerings, particularly Korean beauty (K-beauty) brands.

According to the Amazon spokesperson, the K-Beauty category on the platform has witnessed a 75 percent year-on-year growth.

According to Bhagat, K-beauty products primarily resonates with urban and digital-savvy women, aged between 20 and 35 years. “The urban women have embraced K-beauty products to a larger extent, especially from cities like Bengaluru, Mumbai, Delhi, Hyderabad and Pune”.

Moreover, women from tier-2 cities are also exploring the K-beauty products through trial SKUs like sheet masks and minis, he added.

Bucking the trend, Bhagat said Amazon has observed that a rising cohort of male consumers are also experimenting with Korean skincare, particularly around functional solutions like cleansers, serums, and sunscreens.

A range of K-beauty brands have entered into Indian market via digital commerce platforms, such as COSRX, Laneige, and Beauty of Joseon, TIRTIR, Medicube, and Skin1004.

Meanwhile, Myntra said that they have witnessed a 200 percent YoY growth in K-beauty category.

Beyond K-beauty, several international luxury beauty brands are also capturing Indian consumers’ attention through digital channels.

Nykaa has a dedicated segment, called Nykaa Luxe, which offers a wide range of cosmetics and skincare products from luxury brands such as Armani beauty, Chanel, L’Oréal Luxe, Eucerin, Dior, Tom Ford, sol de janerio, among others.

The company noted that the average annual spend by its top 10% customers is $395 on premium beauty products.

Following suit, other platforms like Tira and Tata CliQ have also expanded their beauty portfolios.

Myntra’s quick commerce venture also offers a selection of international and premium beauty brands, including YSL and Estee Lauder.

A report by global consultancy firm Kearney underscored that the luxury beauty accounts for about 4 percent share of the overall beauty and personal care market. In contrast, developing Asian peers, such as Thailand, Vietnam, and Malaysia, see luxury beauty holding a 20-25 market share.

However, when it comes luxury beauty market, offline stores have outpace online platforms, according to Kearney.

The firm said that 70 percent of luxury beauty sales came from the offline channel in the past year.

“Specialty stores, with beauty-focused multi-brand retailers such as Sephora and Nykaa, contribute to 25 percent of the luxury beauty market, followed by boutiques or standalone brand stores, such as MAC, Forest Essentials, and Dior, with 20 percent of the market,” the report added.

Author Credits- MANSI JASWAL
STORYBOARD 18

LVMH alumni launches quiet tech jewelry marque SPKTRL

July 21, 2025Featured, Latest NewsAdmin

Talented LVMH alumna Katia de Lasteyrie has launched a highly innovative new jewelry marque SPKTRL and unveiled its very first quiet tech product.

Think of it as high jewelry’s smartwatch moment: a diamond jewelry ring that communicates key digital messages silently, without screens, noise, or disruption.

Pronounced “Spectral,” SPKTRL’s light ring uses color to communicate, allowing wearers to personalize the insights they receive through a minimalist app. Hence, the perfectly colorless diamond can light up soft blue to indicate a message from a loved one, while a vibrant magenta could indicate a critical work update. Quiet tech represents the use of non-intrusive technology that blends seamlessly into the background, a key element of the new brand.

Featuring a screenless design, messages are transmitted through a CVD lab-grown diamond, selected for both its beauty and its symbolism.

“It’s a material created with precision by human ingenuity, not chance,” explains Lasteyrie, the founder and CEO of SPKTRL.

Optically and structurally identical to mined diamonds, lab diamonds are increasingly used in deep-tech fields such as quantum computing, she notes.

Design-wise, the SPKTRL ring is essentially indistinguishable from a classic Place Vendôme jewelry piece—yet still manages to invisibly encapsulate hidden layers of technology. In a world of jewelry built on centuries of tradition, SPKTRL’s vivid, color-changing diamond ring signals a tech-driven transformation akin to the one that revolutionized watchmaking.

While most wearables like the Apple Watch are function-first devices, SPKTRL offers something different: a design-led, jewelry-first approach.

“It redefines technology-augmented jewelry—much like smartwatches did for traditional watches—and opens the door to a whole new category,” insists de Lasteyrie, an elegant mum of two who lives a golf chip away from Place Vendôme.

Katia de Lasteyrie is a former innovation lead for LVMH’s Watches & Jewelry division. With almost 20 years of experience in high and fine jewelry, and stints with Christie’s and Chanel, Lasteyrie is as fluent in craftsmanship as she is in innovation.

Her work at LVMH included the development of interactive luxury objects for Louis Vuitton, as well as years of research into the intersection of material culture and emotional design. SPKTRL is the result of that trajectory: a convergence of aesthetic discipline and embedded function. The brand was developed around a single belief: time is the ultimate luxury, which is why SPKTRL offers owners the chance to edit away non-essential communications in an elegant manner.

“SPKTRL appeals to a new art de vivre: one where attention is curated, not consumed. Our technology isn’t designed to replace phones or make you faster but to give you back control. The stone is the interface, and the color is the language. Personalized to each user, our ring communicates important messages in a novel way that is truly mindful of their time and attention,” underlines Katia de Lasteyrie.

Manufactured in France, this talismanic signet ring is designed to represent power and wisdom, crafted from a blend of titanium and high-precision metals.

SPKTRL’s limited-edition debut piece will be available for exclusive order this fall, at a four-figure euro price tag, by visiting: https://spktrl-paris.com.

Author Credits- Godfrey Deeny
FASHION NETWORK

UAE’s Al-Futtaim to acquire 49.95% of Saudi’s Cenomi Retail

July 21, 2025Latest NewsAdmin

Cenomi Retail’s founding shareholders signed a share purchase agreement with Al-Futtaim with shares priced at 44 riyals each

RIYADH: Emirati conglomerate Al-Futtaim is to buy a 49.95% stake in Saudi Arabian franchiser Cenomi Retail in a deal worth more than 2.5 billion riyals ($667 million), Cenomi Retail said in a statement on Sunday.

Cenomi Retail’s founding shareholders signed a share purchase agreement with Al-Futtaim with shares priced at 44 riyals each, said the statement.

As part of the share purchase agreement’s completion conditions, the two companies are negotiating a shareholder loan of at least 1.3 billion riyals to boost Cenomi Retail’s balance sheet.

Cenomi Retail is a large franchiser in Saudi Arabia operating food and retail outlets, while Al-Futtaim of the United Arab Emirates is a private business group with operations ranging from financial services to real estate and retail.

“This investment represents substantial foreign direct investment (FDI) from the UAE private sector and underscores the robust economic partnership between our countries,” Al-Futtaim’s Vice Chairman and CEO Omar al-Futtaim said in the statement.

Saudi Arabia has been attempting to boost FDI as part of its Vision 2030 program to diversify the economy away from oil dependency and expand the private sector. ($1 = 3.7509 riyals) (Reporting by Pesha Magid; Editing by Aidan Lewis)

Author Credits- Pesha Magid
ZAWYA BY LSEG