​Ralph Lauren x Fortnite; Farfetch CFO; e.l.f. results; HoF closures; Petar Petrov failure; Kao buys Bondi Sands

By

Sandra Halliday

Published
Aug 2, 2023

Ralph Lauren will launch an immersive branded world called Race to Greatness on Fortnite on 3 August. It will also debut the ‘phygital’ Polo x Fortnite P-Wing Boot for retail. Inspired by the digital boot from the original Polo Stadium Collection in Fortnite, it's a physical product available only on RalphLauren.com. The Race to Greatness is “a unique island created in Fortnite that encapsulates the adventurous spirit of Polo”. 

Farfetch has named a new CFO. Tim Stone joins next month with more than two decades of experience in senior financial and CFO roles from Amazon and Ford Motor Company.

e.l.f. Beauty results for the three months ended June 30 show net sales growth of 76% to $216.3 million (“primarily driven by strength in both our retailer and e-commerce channels”) and market share gains of 260 basis points in Q1. Adjusted EBITDA was $74.3 million, or 34% of net sales, up 135% year on year. Net income was $53 million on a GAAP basis and adjusted net income was $62.9 million.

UK department store chain House of Fraser could lose more branches with Frasers Group CEO Michael Murray saying “the department store globally is broken”. He said the department store portfolio is “continually under review” and some stores are “still too big… We have to find solutions for the excess space.” The company runs half the number of HoF stores now than when it acquired the chain in 2018.

Vienna-based womenswear label Petar Petrov has filed for self-administration in Austria and is to restructure, Drapers reported. The 15-year-old label has liabilities of around €3.6 million. Creditors are expected to receive about 30% of what they’re owed. Founder Petrov is expected to retain control of the company.

Kao Corporation is to acquire the Australian Bondi Sands brand. The owner of John Frieda, Jergens, Curél and Bioré will buy the suncare business for an undisclosed sum. The products are available in over 32 countries, including Australia, the UK and US. Bondi Sands has “a leading share” of the self-tanning market.