Photo: Moritz Scholz/Getty Images
U.S.-China trade deal could reshape shoe supply chains
The new U.S.-China trade deal lowered the footwear tariff rate down to a range of 20% to 27%, compared to the temporary reciprocal rate of 30% and the original threat of 55%. Many footwear executives see this deal as a positive first step, but shoe brands may now rethink their sourcing and supply chain models. The deal puts China back at the center of the production conversation, and companies may decide it’s now easier to keep production in China. {WWD/paywalled}
Puig Q3 sales rise
Puig released its Q3 2025 sales on Thursday, which showed its net revenue was up 3.2% to €1.3 million ($1.5 million). All of Puig’s business segments grew on a like-for-like (LFL) basis: Fragrance and fashion rose by 2.8%, makeup was up by 18.8% and skin care grew by 10.5%. Puig reconfirmed its fiscal year 2025 outlook of LFL revenue growth in the 6% to 8% range. {Puig}
Investors’ conservative panic won’t silence queer beauty founders
As the U.S. increasingly shifts towards conservatism amid mounting political censorship and unrest, queer-founded beauty brands are facing pressure from investors to tone down their messaging. In today’s political climate, some founders feel conflicted about softening their message, while others are wondering how to evolve their brand identity to attract a broader audience. The LGBTQ+ community has an overall purchasing power of $4.7 trillion globally, which is only growing. {Business of Fashion/paywalled}
Target has widespread corporate layoffs
Target’s widespread corporate layoffs included employees spanning across engineering, product design, analytics, guest experience, creative, strategy, merchandising, HR, operations and legal. Target decided to cut around 1,000 team members and to not fill an additional 800 open roles. Those impacted will continue to receive pay and benefits until Jan. 3, in addition to severance packages. {Modern Retail}
Lululemon’s founder blasts the company’s current management
Lululemon founder and former CEO Chip Wilson took out a full-page advertisement in The Wall Street Journal criticizing the company’s current management and breaking down the problems facing the brand, which has seen its market cap drop from $64 billion to around $20 billion during the past few years. Wilson claimed the company panicked after a bad season or two of design, brought in M.B.A. types to “Gapify” the business and is now facing rapidly declining cultural relevance. {Puck/paywalled}
Source: Fashionista.com