Just a very quick one this week :
If you haven’t discovered TheBeautyUnited on Instagram, head over and give them a follow HERE. It’s the most glamorous line up of beauty brand founders who have formed a coalition to raise funds for Covid 19 charities. Victoria Beckham, Charlotte Tilbury, Drew Barrymore, Huda Kattan, Zanna Roberts (Milk Make Up), Kim Kardashian and, and, and… They’ve so far raised over $6 million with a goal of $10 million (it seems to be mainly US fund raising).
Estee Lauder Companies is drawing on revolving credit (I’m learning new finance terms so bear with!) to the tune of $1.5 billion to hopefully see it through the Covid 19 crisis. As I understand it, revolving credit means that a company can use credit to a certain limit, paying off and re-borrowing as needed, depending upon cash flow variations.
Debenhams has finally issued notice to appoint administrators – however, on-line sales are still taking place. Said to be ‘light touch’ administration, the company is thought to be protecting its legal position once ready to open (some) stores again.
Remember Coty taking Amazon to the European Court of Justice for selling Coty fragrances on behalf of its third party retailers? Amazon can now continue to do so as judges found that storing Coty fragrances didn’t breach trade mark rights. Coty, I think, were looking to have a more exclusive distribution network for its fragrances which include Burberry, Calvin Klein and Gucci.
The Liz Earle company has been ordered to pay £17,000 by courts in an unfair dismissal claim. A marketing executive was sacked one month before her maternity rights kicked in – leading to findings of ‘prejudicial bias’ by her line manager.
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