Revolve Acquires Dion Lee IP, Xiaomi Boosts R&D and L’Oréal Invests in Chinese Synthetic Biology

Revolve Acquires IP Assets of Australian Fashion Brand Dion Lee

US-based e-commerce company Revolve Group has acquired the intellectual property assets of Australian luxury fashion label Dion Lee for an undisclosed amount, reportedly under $1 million. The acquisition follows Dion Lee’s bankruptcy filing in 2024, after failing to secure new investment and accumulating $35 million in liabilities. Administrators sold discounted inventory to recover $9 million in debt.

On Holding Appoints Former H&M CEO to Board of Directors

On Holding has appointed Helena Helmersson, former CEO of H&M Group, to its board of directors as an independent member and member of the nomination and compensation committee. Helmersson brings extensive experience from her leadership roles at H&M, including in sustainability and operations. The announcement coincides with the retirement of Kenneth Fox, a longtime board member who supported On’s IPO in 2021.

Ralph Lauren Reports Strong Q4 Results Amid Forecasted Slower Growth

Ralph Lauren exceeded Q4 earnings and revenue expectations, with net income rising 42 percent to $129 million and revenues up 8.3 percent to $1.7 billion. The company projects slower growth for the upcoming fiscal year due to weaker consumer sentiment and potential tariff impacts. CEO Patrice Louvet noted ongoing inflationary pressures and a cautious outlook despite continued brand momentum. The company will unveil its new three-year strategic plan in September.

Xiaomi Plans 200 billion RMB R&D Investment Over Next Five Years

At Xiaomi’s 15th Anniversary Launch Event, Chairman Lei Jun announced that the company’s smartphone business has ranked in the global top three for 19 consecutive quarters. He also highlighted major progress in electric vehicles, semiconductors, and smart factories, marking the completion of Xiaomi’s “Human-Car-Home” ecosystem. Over the next five years, Xiaomi plans to invest an additional 200 billion RMB in research and development.

Topsports Reports FY2024 Revenue

Topsports announced its financial results for FY2024, posting revenue of 27.01 billion RMB, a 6.6 percent year-on-year decline but slightly above market expectations. Net profit attributable to shareholders dropped 41.9 percent to 1.286 billion RMB, with a profit margin of 4.8 percent. Gross margin fell 3.4 percentage points to 38.4 percent. The company reported over 86 million users, around 5,000 offline stores, and partnerships with more than 20 brands.

Canada Goose Q4 FY2025 Revenue Up 7.4 Percent

Canada Goose reported a 7.4 percent year-over-year increase in global revenue for Q4 FY2025, with direct-to-consumer comparable sales rising 6.8 percent. The brand saw a 19 percent uptick in global search interest following February marketing campaigns. Looking ahead to FY2026, the company plans to expand product categories, increase marketing investment, and enhance retail operations through targeted store growth and agile supply chain strategies.

Mixue Market Cap Tops HK $200 Billion

Mixue Group closed with a market capitalization of approximately HK $203.3 billion, surpassing the A-share listed liquor company Luzhou Laojiao. The group’s valuation also exceeded that of major beverage companies such as Tsingtao Brewery and Budweiser APAC.

L’Oréal Invests in Chinese Synthetic Biology Startup Veminsyn

L’Oréal has announced a strategic minority investment in Chinese biotech startup Veminsyn, focusing on developing innovative bioactive ingredients, scalable production, and low-carbon biomanufacturing for cosmetics. Veminsyn specializes in 17-type collagen and plant-based raw materials, supplying major global and domestic beauty companies. This marks L’Oréal’s fifth investment in China and aligns with its ongoing efforts to localize upstream R&D and support sustainable innovation in the rapidly growing Chinese beauty market.