Kim Jones to Exit Fendi, Maintains Dior Homme Role, Fendi Says

The logo of fashion house Fendi is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)
The logo of fashion house Fendi is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)
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Kim Jones to Exit Fendi, Maintains Dior Homme Role, Fendi Says

The logo of fashion house Fendi is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)
The logo of fashion house Fendi is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)

Fendi artistic director Kim Jones is leaving the Italian fashion house but will stay on at Dior Homme, LVMH's Fendi said in a statement on Friday, the latest in a series of designer shuffles at big name labels as the industry adjusts to a downturn.

A new creative organization for the label will be announced "in due time," the company said. One of the industry's highest profile designers, Jones succeeded Karl Lagerfeld at the label in 2020, designing ready-to-wear and couture collections.

Last week, LVMH named Michel Rider to succeed Hedi Slimane at Celine, and in September named Sarah Burton to take over creative direction at Givenchy.



Report: L'Oreal in Talks to Buy Migros’ South Korean Cosmetic Unit

The logo of French cosmetics group L'Oreal is seen on a company building in Paris, France, February 7, 2024. (Reuters)
The logo of French cosmetics group L'Oreal is seen on a company building in Paris, France, February 7, 2024. (Reuters)
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Report: L'Oreal in Talks to Buy Migros’ South Korean Cosmetic Unit

The logo of French cosmetics group L'Oreal is seen on a company building in Paris, France, February 7, 2024. (Reuters)
The logo of French cosmetics group L'Oreal is seen on a company building in Paris, France, February 7, 2024. (Reuters)

French cosmetics giant L'Oreal is in final talks to acquire the South Korean skincare business Gowoonsesang Cosmetics owned by Mibelle Group, a unit of Swiss retailer Migros, according to two sources with knowledge of the deal.

An announcement could be made as soon as Monday, one of the people said.

A spokesperson for Migros said it did not comment on market rumors. L'Oreal did not respond to multiple requests for comment.

Mibelle acquired its stake in South Korean Gowoonsesang Cosmetics, which sells skin care products under the Dr.G brand, in 2018.

In February, Migros announced a strategic review for Mibelle Group, saying it wanted to find a new owner for the business.

Mibelle produces cosmetics for its own brands, including Dr.G, Imbue., Lee Stafford, and Mine, as well as for other brands, according to its website.

Dr.G is the No. 1 facial care line in the Korean dermocosmetics market, according to the Mibelle website.

Spanish investment bank Alantra was hired as adviser after the strategic review, to look for buyers for the business, one of the sources said.

A spokesperson for Alantra declined to comment.

Mibelle employs 1,615 people in five countries, with revenues of 661 million Swiss francs ($739.04)in 2023, according to its website.