-
In September 2025, multiple high-profile data breaches and cybersecurity incidents emerged globally. WhatsApp's former security chief sued Meta over systemic security flaws and retaliation. Luxury group Kering disclosed a breach affecting millions of customers. UK retailer Co-op reported a cyberattack causing significant financial losses and operational disruption. Meanwhile, Neon Mobile app faced a critical security flaw exposing user call data, leading to a temporary shutdown.
-
Following Giorgio Armani's death on September 4, 2025, his will directs heirs to sell an initial 15% stake in the fashion empire within 18 months, followed by an additional 30% to 54.9% within five years. Priority buyers include LVMH, L'Oréal, and EssilorLuxottica, or alternatively an IPO. The Armani Foundation and longtime partner Pantaleo Dell’Orco hold majority voting control, ensuring legacy preservation.
-
Novo Nordisk plans to cut 11% of its global workforce, mainly in Denmark, as sales of its obesity drugs slow and competition intensifies. The move aims to reduce costs and refocus R&D, following a sharp decline in market value and increased competition from Eli Lilly and generic manufacturers.
-
Carrefour, once a leading hypermarket chain, is rapidly retreating from several Middle Eastern markets, including Bahrain, Kuwait, Jordan, and Oman, with its franchise partner Majid Al Futtaim replacing it with the local brand HyperMax. The closures follow regional political pressures and strategic shifts, while Carrefour continues to operate in some markets like the UAE and Egypt.
-
French economist Gabriel Zucman proposed a 2% wealth tax on assets over €100m, aiming to address wealth inequality. LVMH's Bernard Arnault strongly opposes the plan, claiming it threatens the French economy. The debate has intensified amid political pressure and protests over budget cuts.
-
Louis Vuitton and Christian Dior plan to expand flagship stores in Seoul’s Cheongdam district, with Dior’s revamp including a restaurant by 2027. Bulgari and Tiffany & Co. are also considering new flagship openings, reflecting strong growth in luxury retail in South Korea.
-
Following Giorgio Armani's death on September 4, a tribute event at Milan's Pinacoteca di Brera celebrated his life and work. The event featured a fashion show of his final collection, a museum exhibition of over 120 looks, and tributes from celebrities and industry figures. His will plans for a sale of his stake to major luxury firms remain uncertain.
-
As of late October 2025, Target announced plans to cut about 8% of its global corporate workforce, roughly 1,800 jobs, mainly at its Minneapolis headquarters. The restructuring aims to simplify management layers and accelerate decision-making amid stagnant sales and competitive pressures. The cuts exclude store employees and come as Target prepares for a leadership transition in February 2026.
-
Prada has completed its acquisition of Versace from Capri Holdings, aiming to revitalize the brand. Lorenzo Bertelli will lead as chairman, with a focus on growth and creative renewal. The deal marks a strategic move to tap into Versace’s untapped potential amid a creative relaunch.