Ted Baker Turns Down Takeover Proposals from Sycamore

Ted Baker Turns Down Takeover Proposals from Sycamore
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Ted Baker Turns Down Takeover Proposals from Sycamore

Ted Baker Turns Down Takeover Proposals from Sycamore

Britain's Ted Baker said on Monday it had rejected two unsolicited non-binding proposals from private-equity firm Sycamore Partners Management for a possible cash offer for the fashion retailer.

Ted Baker said it had concluded the proposals from New York-based Sycamore significantly undervalued the company and failed to "compensate shareholders for the significant upside that can be delivered by Ted Baker as a listed company.”



Traditional Polish Lace Crochet is Becoming a New Favorite in Fashion

A woman makes traditional lace from cotton yarn in the village of Koniakow, in Poland's Beskid Mountains, Sunday, Aug. 17, 2025. (AP Photo/Daniel Franek)
A woman makes traditional lace from cotton yarn in the village of Koniakow, in Poland's Beskid Mountains, Sunday, Aug. 17, 2025. (AP Photo/Daniel Franek)
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Traditional Polish Lace Crochet is Becoming a New Favorite in Fashion

A woman makes traditional lace from cotton yarn in the village of Koniakow, in Poland's Beskid Mountains, Sunday, Aug. 17, 2025. (AP Photo/Daniel Franek)
A woman makes traditional lace from cotton yarn in the village of Koniakow, in Poland's Beskid Mountains, Sunday, Aug. 17, 2025. (AP Photo/Daniel Franek)

Wiesława Juroszek was only 6 years old when she learned the intricate handicraft of lace crocheting from the women in her family as part of a long tradition in their little mountain village.

Now, 53 years later, she is part of a new generation of women using those skills to make Koniaków famous far beyond Poland's borders. Their uniquely crocheted lingerie, beautiful wedding dresses, skirts, blouses and even traditional tablecloths are enjoying a surge of popularity and elevated prices for the skilled work.

“In Koniaków almost all the women do ‘hekla,’ as we call it,” Juroszek told The Associated Press. "For us it’s a passion, for us it’s our whole life.”

Around 700 women work as lace makers in Koniaków, which is nestled high in the Beskid Mountains in southern Poland near the border with Slovakia.

Traditional needlework becomes a prized craft The techniques have been passed down for years by Koniaków women, who were following the tradition of previous generations of Polish women who embellished bonnets worn over their hair by crocheting lace ribbons to be tied around their foreheads.

“It was a decorative element. When a woman was married, she had her own,” Juroszek said. "Later, women started making them as table decorations, like napkins, and the shape became round. And the women sold them, which was a way to earn money.”

What began more than 100 years ago simply as work to support household budgets has been transformed into a prized craft. Blouses sell for at least 3,000 to 4,000 złoty ($750 to $1,000) and wedding dress prices reach up to tens of thousands of złoty.

The steep costs are based on the amount of time the women need for their needlework, with even a simple blouse requiring several weeks.

Unlike some other traditional craftworks around the globe, crocheting lace is not fading, it's flourishing.

Pieces are unique and often inspired by nature Koniaków lace is known for unique patterns that are often inspired by the landscape surrounding the highland village.

“In this tiny village ... women create unique patterns from their imagination, compositions of thin threads, flowers and stars," said Lucyna Ligocka-Kohut, president of the Koniakow Lace Foundation.

“They are surrounded by beautiful nature, so it inspires their motifs,” she added. "We have no templates, no patterns. We create everything from our imagination, and that’s why fashion houses want to work with us, because every design, every napkin, every new dress is something new for us.”

Koniaków has drawn the attention of international designers The ladies of Koniaków say each of their lace creations is one of a kind, so it comes as no surprise that international fashion designers noticed the pieces.

Ligocka-Kohut lists brands that have been captivated by the work coming out of the mountain village including Christian Dior, Dolce & Gabbana, Magda Butrym, Rei Kawakubo and Comme des Garçons.

“Koniaków lace has already appeared twice at Paris Fashion Week,” she said.

The lacy lingerie comes in striking colors The most traditional Koniaków lace is mostly made in white or soft ecru. Bolder shades such as deep red, rich black and vivid green are typically reserved for lingerie and swimwear.

The bras, panties, thongs and G-strings are sold online for those who can't travel to southern Poland for lace shopping.

Homemaker Ewa Lesiewicz, one of the regular Polish customers, is a true fan of the famous lace works.

“I already have a lace blouse, a lace bra, a set with panties and I really like it," the 63-year-old said. "I also want a set like this: a blouse and a skirt.”


Estee Lauder Forecasts Annual Profit Below Estimates as Tariffs Hit 

An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)
An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)
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Estee Lauder Forecasts Annual Profit Below Estimates as Tariffs Hit 

An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)
An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)

Estee Lauder forecast annual profit below Wall Street estimates on Wednesday, as the cosmetics giant grapples with persistent weakness in the US and China markets and tariff uncertainty.

Shares of the company were down about 12% in premarket trading.

The company expects a hit of about $100 million from tariff-related headwinds to fiscal 2026 profitability.

Estee Lauder, like other luxury brands and retailers, took a hit from consumers keeping a tight lid on expenses in the face of surging product prices owing to US President Donald Trump's sweeping tariffs on imports.

The company expects full-year adjusted earnings per share to be in the range of $1.90 to $2.10, compared with analysts' estimates of $2.21 per share, as per data compiled by LSEG.


Bankrupt Jewelry Retailer Claire’s to Sell Its North America Business 

This photograph shows a logo on a Claire's shop on the first day of winter sales, in Paris, on January 8, 2025. (AFP) 
This photograph shows a logo on a Claire's shop on the first day of winter sales, in Paris, on January 8, 2025. (AFP) 
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Bankrupt Jewelry Retailer Claire’s to Sell Its North America Business 

This photograph shows a logo on a Claire's shop on the first day of winter sales, in Paris, on January 8, 2025. (AFP) 
This photograph shows a logo on a Claire's shop on the first day of winter sales, in Paris, on January 8, 2025. (AFP) 

Fashion jewelry retailer Claire's said on Wednesday it would sell its North America business to private equity firm Ames Watson for an undisclosed amount, as the company aims to cut losses while navigating ongoing US bankruptcy proceedings.

The retailer operating more than 2,300 stores across 17 countries in North America and Europe, disclosed $690 million in debt in US bankruptcy court filings in Delaware earlier this month, marking its second bankruptcy protection filing since 2018.

"The sale of these stores and Claire's IP to Ames Watson will significantly benefit the Company's efforts to create value through its Restructuring Proceedings," the company, which sells necklaces, bracelets and accessories, including headphones and soft toys, said. The sale requires approval from the US and Canadian courts.

Ames Watson is a permanent capital holding company generating more than $2 billion in revenue, according to its website. It acquires, transforms, and partners with middle-market companies to build long-term value.

Claire's has suffered in recent years from increased competition, high rent costs, and new tariffs on imports from supplier nations such as China, Thailand and Vietnam.

The company said liquidation will continue for its other North American stores that are not being sold.

"We are glad to reach this definitive agreement to sell a portion of our North America operations to Ames Watson and maximize the value of our company for all our stakeholders," CEO Chris Cramer said.

Ames Watson co-founder Lawrence Berger said that the firm was "committed to investing in its (Claire's) future by preserving a significant retail footprint across North America."