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☆ Tupperware files for bankruptcy, citing ‘challenging’ economic environment
▼ + stars: | 2024-09-18 | by ( Ramishah Maruf | Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

New York/London CNN —Tupperware Brands Corporation, whose food containers have been a mainstay in American kitchens, has filed for bankruptcy. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, Tupperware president and CEO, said in a statement late Tuesday. Tupperware has historically only sold to consumers through so-called direct sales, most commonly at “Tupperware parties,” similar to cosmetic company Avon’s business model, and only began selling in Target in 2022. Many businesses file for bankruptcy protection to wind down some operations, shed debt and cut costs. A common route, also chosen by Tupperware, is Chapter 11 bankruptcy, which allows the company to solve its financial problems by restructuring.

Persons: ” Laurie Ann Goldman, ” Tupperware, Tupperware Organizations: London CNN — Tupperware Brands Corporation, “, Tupperware, Target Locations: New York, London, South Carolina

☆ Police officers injured as far-right activists face off against anti-racism groups across U.K.
▼ + stars: | 2024-08-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +6 min

Elsewhere, bricks were thrown at police officers in Stoke-on-Trent in central England while scuffles have also been reported in Belfast, Manchester and Nottingham. James Speakman / PA via APThe violence erupted earlier this week, ostensibly in protest of Monday’s stabbing attack in Southport. False rumors spread online that the young man was a Muslim and an immigrant, fueling anger among far-right supporters. “During the course of the evening, our officers were met with serious and sustained levels of violence,” he said. Starmer has blamed the violence on “far-right hatred” and vowed to end the mayhem.

Persons: ”, scuffles, Keir Starmer, James Speakman, Andrew Menary, Axel Rudakubana, Mark Hall, “, —, Taylor Swift, Alice Dasilva Aguiar, Elsie Dot Stancombe, Bebe King, Starmer, Yvette Cooper Organizations: Police, Merseyside Police, ”, Humberside Police, Somerset Police, Trent, Blackpool, Palestinian, Labour, Northumbria Police, ” Police Locations: Liverpool, Southport, England, Hull, Bristol, Avon, Stoke, Belfast, Manchester, Nottingham, London, Gaza, Sunderland, Wales, Rwandan, Northumbria, “, Southport —

☆ Manhunt in U.K. Ends With Murder Charges After Bodies Found in Suitcases
▼ + stars: | 2024-07-15 | by ( Ali Watkins | More About Ali Watkins | ) www.nytimes.com time to read: 1 min

A 34-year-old man has been arrested and charged with two counts of murder after human remains were discovered in suitcases left at Clifton Suspension Bridge in Bristol, England, last week, the Metropolitan Police in London said on Monday. The man, Yostin Andres Mosquera, was arrested early on Saturday in Bristol, the police said. The charges come after a grisly discovery early Thursday, when the police in Avon and Somerset responded to calls of a man with a suitcase acting strangely near the Clifton Suspension Bridge, a stone structure crossing the River Avon in a leafy area near Bristol. By the time the police arrived, the man had disappeared, but the suitcase remained. They each contained human remains, the police said.

Persons: Yostin Andres Mosquera Organizations: Metropolitan Police Locations: Clifton, Bristol, England, London, Avon, Somerset

☆ Manhunt launched after human remains found in second British city
▼ + stars: | 2024-07-12 | by ( Maija-Liisa Ehlinge | Chris Lau | ) edition.cnn.com time to read: +3 min

CNN —British police have found human remains in a west London apartment which they believe are connected to body parts found earlier this week in another city, officers said Friday. Authorities are now on the hunt for a Colombian man thought to be linked to the case. Officers said their priority is to find Yostin Andres Mosquera, a 24-year-old Colombian national, naming him for the first time. They released a photo of Mosquera clad in a black Adidas baseball cap, black jeans, a black jacket, black trainers with thick white soles, with a black backpack. Kyle Clifford, 26, was found by officers in Enfield, north London, on Wednesday following an extensive manhunt, and arrested on Thursday in connection with the killing.

Persons: Yostin Andres Mosquera, Mosquera, ”, Andy Valentine, Vicks Hayward, Carol Hunt, John Hunt, Hannah Hunt, Louise Hunt, Kyle Clifford Organizations: CNN, British, Authorities, The Metropolitan Police, Colombian, Adidas, Police, Somerset Police, Metropolitan Police, Metropolitan Police Authorities, ” Police, coastguard, Avon and Somerset Police Locations: London, Colombian, Clifton, Bristol, Avon, Britain, Enfield

☆ 460 Years Ago, Shakespeare Was Born Here. Or Somewhere.
▼ + stars: | 2024-04-23 | by ( Elizabeth Winkler | ) www.nytimes.com time to read: +1 min

Sometime in the late 18th century, a sign appeared outside a shambly butcher’s hut in the English town of Stratford-upon-Avon: “The Immortal Shakspeare was born in this house,” it announced, using a then common spelling of his name. Devotees began making pilgrimages — dropping to their knees, weeping, singing odes: “Untouched and sacred be thy shrine, Avonian Willy, bard Divine!”A tradesman grew rich selling carvings from a local mulberry tree, like pieces of the true cross. Some skeptics suspected that the sign was part of a scheme to bring visitors to Stratford; others wondered if it had been hung by the property’s occupant. About 250 years after its break from the Catholic Church, England had its own Bethlehem and manger. The problem: No one really knows where Shakespeare was born.

Persons: Shakspeare, Avonian Willy, Shakespeare Organizations: Avon, Catholic Church Locations: Stratford, ”, England, Bethlehem

☆ Art dealing can be a tricky business. Insiders share the ins and outs of their 'unusual' world
▼ + stars: | 2024-04-17 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +5 min

After a degree in fine art, Lambert imagined he would become an art teacher, but a chance meeting with an art dealer who hired him as an assistant set him on a different path. Then, after a stint at another dealership, he opened his own gallery in September — Lambert Fine Art — in the British town of Stratford-upon-Avon. Dealing in art is a trade Lambert described as "unusual," because art is often a purchase driven by emotion rather than need. 'The business needs new blood'The world of art dealing can be intimidating to new entrants, according to Olya Johnson, an interior architect and co-founder of art and interiors business Relic, which she set up in 2023. Risks of dealing artThe occupation can also be risky, because dealers often own multiple pieces of art without knowing when they will be sold, according to the dealers CNBC spoke to.

Persons: —, Mark Lambert, Andy Warhol, Pablo Picasso, Claude Monet, Lambert, …, — Lambert, " Lambert, Olya Johnson, Johnson, Rasid, Relic, Colefax, Fowler, Natalie Vosloo, it's, Tom Rooth, Jack Roberts, I've, Roberts, David Hockney, Jeff Koons, Damien Hirst, Banksy, Shannon Finney Organizations: Art, CNBC, — Lambert Fine Art, Fair, Anadolu, Getty, Washington , DC Locations: Stratford, Avon, London, Battersea Park, Washington ,

NEW YORK (AP) — On the 400th anniversary of Shakespeare's First Folio, rare originals are being displayed and publishers are offering collectors editions of Shakespeare's plays, including one that sells for $1,500. The British Museum is collaborating with Rizzoli Books in New York on “Shakespeare’s First Folio: 400th Anniversary Facsimile Edition,” contained within a slipcase cover. Besides Doran's introduction, the Folio Society release includes a foreword by Dame Judi Dench. “In an era when everything seems disposable, I feel like there's a good market for fine editions of classic books,” says Folio Society publishing director Tom Walker. “You can buy a Ben Jonson folio for a few thousand dollars; a Shakespeare folio will cost you millions.

Persons: Shakespeare's, Mr, William Shakespeares, Shakespeare, “ Macbeth, ”, ” Gregory Doran, Adrian Edwards, George R.R, Martin's, Dame Judi Dench, Neil Packer, “, Tom Walker, Chris Laoutaris, Ben Jonson, Benjamin Jonson ”, Henry, Emily Folger, Sir George Grey, ” Laoutaris, ’, James Shapiro Organizations: Royal Shakespeare Company, British Museum, New York Public Library, British, Rizzoli Books, Folio Society, Folio, Shakespeare Institute, Avon, Columbia University Locations: New York, London, playwright's, Stratford, British, Australia, New Zealand, South Africa, United States, United Kingdom, Japan, Germany, France

☆ Tupperware picks Spanx veteran as new CEO
▼ + stars: | 2023-10-17 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware Brands named consumer products veteran and former long-time CEO of Spanx Laurie Ann Goldman as its new CEO on Wednesday amid ongoing attempts to continue to survive as a business. In addition to her experience heading up Spanx for 12 years, Goldman also previously was CEO of Avon North America from August 2018 to August 2019. She was most recently CEO of OVME Aesthetics, a provider of medical aesthetics products and services prior to coming on board at Tupperware. Tupperware named Laurie Ann Goldman at its new CEO on Wednesday. Last October, in a massive shift in its business model, Tupperware rolled out its containers onto Target shelves nationwide.

Persons: Laurie Ann Goldman, Goldman, Miguel Fernandez, Tupperware, Sean Zanni, Patrick McMullan, Laurie Ann, ” Susan Cameron, “ Laurie Ann, It’s, –, – CNN’s David Goldman Organizations: New, New York CNN, Brands, Avon Locations: New York, Spanx, Avon North America, Tupperware, The Florida, Bath

☆ As Coal Plants Shutter, a Chance to Redevelop ‘the Gates of Hell’
▼ + stars: | 2023-10-17 | by ( Patrick Sisson | ) www.nytimes.com time to read: +1 min

After the Cleveland Electric Illuminating Company flipped the switch on its sprawling new Avon Lake site in 1926, the brick behemoth, then one of the world’s largest coal-fired power plants, helped usher in a new era of regional economic growth in northeastern Ohio. Nearly a century later, the plant sits dismantled and disconnected. It was shut down in 2022, and just one of its six towering smokestacks remains. The proposed cleanup and redevelopment of this ossified power plant joins a growing collection of such projects across the nation. The sites were so decayed, community members considered them a blemish.

Organizations: Cleveland Electric Locations: Avon, Ohio, Lake Erie, Hell

☆ Tupperware shares surge after company replaces CEO, shuffles board
▼ + stars: | 2023-10-17 | by ( Drew Richardson | ) www.cnbc.com time to read: +1 min

Tupperware products are offered for sale at a retail store in Chicago on April 10, 2023. Tupperware on Tuesday appointed Laurie Ann Goldman as its new CEO and shook up its board as the iconic brand tries to overcome its recent struggles. Goldman's predecessor, Miguel Fernandez, worked just three years as the company's CEO. The container maker also appointed three new members to its board, with Fernandez departing the board, the company said in a statement. "Now is the right time to bring in new leadership, and Laurie Ann is exceptionally well-suited to advance our long-term strategy and accelerate growth," said Susan Cameron, Tupperware's chair.

Persons: Tupperware, Laurie Ann Goldman, Miguel Fernandez, Fernandez, Goldman, Laurie Ann, Susan Cameron, Tupperware's Organizations: Avon North, CNBC Locations: Chicago, Avon North America

☆ Emily Glazer — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-22 | by ( Emily Glazer | ) www.wsj.com time to read: +1 min

Emily GlazerEmily Glazer is a reporter focusing on large public company CEOs, board members and corporate governance for The Wall Street Journal's corporate bureau in New York. Her stories often delve into companies going through major changes, such as CEO succession, board shakeups, regulatory investigations or structural shifts. She has covered the evolving role of business leaders impacted by the pandemic and Environmental, Social and Governance factors. Emily also contributes to the Journal’s Personal Board of Directors columns and CEO Council events. Emily has reported for Dow Jones since 2008 in New York, San Francisco and Los Angeles.

Persons: Emily Glazer Emily Glazer, Emily, Morgan Chase, Wells, George Polk, Gerald Loeb, Dow Jones Organizations: The, Social, Procter, Gamble, New York Press Club, News Media Alliance, Society of American Business, Facebook, Business, Beat, Public Service, Medill School of Journalism, Northwestern University Locations: New York, Wells Fargo, Avon, Herbalife, San Francisco, Los Angeles

☆ Will the Real Shakespeare Please Stand Up?
▼ + stars: | 2023-09-08 | by ( Willard Spiegelman | ) www.wsj.com time to read: 1 min

Shakespeare’s funerary monument in Stratford-upon-Avon, England. Photo: Brian Seed/Bridgeman ImagesIn the final act of “The Tempest,” the wizardly Prospero may have drowned his book of spells. But of making books about Shakespeare there is no end. In particular, a set of questions about the writer—concerning identity, authorship, legitimacy—has vexed readers for centuries. Of Shakespeare, we know a few things, but lack of knowledge has never prevented people from speculating, sometimes wildly.

Persons: Brian Seed, Prospero, Shakespeare, —, William Shakespeare’s, George Bernard Shaw Organizations: Avon Locations: Stratford, Avon, England

☆ Avon owner Natura & Co considers sale of The Body Shop as revenue declines
▼ + stars: | 2023-08-28 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Brazilian beauty conglomerate Natura & Co is considering a sale of The Body Shop after the skin care and cosmetics line saw another quarter of declining sales, according to a Monday securities filing. Natura & Co, which owns the Avon and Natura brands and is in the process of selling its Aesop line to L'Oreal , wrote in the filing that its board of directors "recently authorized its management to explore strategic alternatives for The Body Shop," the filing said. Late last year, Sao Paulo-based Natura denied rumors that it was considering a sale of The Body Shop. On Aug. 15, the company announced second-quarter results and said sales at The Body Shop fell 12% to 800 million Brazilian reals, or $163.7 million. However, The Body Shop has struggled to hang on to its market share and meet customers where they are after consumer habits shifted during the Covid pandemic, executives said during an August earnings call.

Organizations: Co, Natura, L'Oreal, Retail Locations: Sao Paulo, U.S

☆ How Merve Emre became the hottest — and most reviled — name in literary criticism
▼ + stars: | 2023-08-24 | by ( Anna Silman | ) www.businessinsider.com time to read: +40 min

Last winter, the 37-year-old literary critic and Wesleyan professor Merve Emre stood in front of a microphone in Rachel Comey's Soho boutique. While the others had largely opted to pull boldfaced names from the Review's archives — like a 1985 Gore Vidal piece about Tennessee Williams — Merve Emre would be reading Merve Emre. Emre has penned so many introductions for new anthologies and reissues that one fan joked on Twitter: "every new baby in 2024 comes with an introduction by merve emre." Courtesy of Merve Emre. Over her cocktail, Merve Emre told me what my profile on Merve Emre should be about.

Persons: Merve Emre, Rachel Comey's, Emily Greenhouse, Gore Vidal, Tennessee Williams — Merve Emre, Emre, Diane Williams, who's, Everyone's, Elena Ferrante, Jonathan Franzen, Rachel Cusk, Susan Sontag, Michael Roth, Reading Emre, merve emre, John Guillory, Dorothy Parker, Christopher Hitchens, Jon Fosse, Stephanie LaCava, Batuman, Lawrence, Alison Roman, Frank Gehry, Jason Stanley, someone's, they're, Anna Shechtman, Anne, Maggie Doherty, doesn't, Emre Emre, Roald Dahl's, Matilda, Myers, Briggs, you've, I've, Bain, Chris Bierly, I'd, Amy Lombard, Ferrante, She's, Christian Nakarado, Leo Carey, Jason, Nakarado, hasn't, Emre's, Altan, Emre lasered, Ara Osterweil, McGill, Beyoncé, Osterweil, Al Jazeera, sensitively, Ivy pricks, she's, Michael Berube, He'd, he'd, James Joyce, Simone de Beauvoir, Merve, Sarah Chihaya, —, Mary Butts, Leonora Carrington, Susan Taubes, Taubes, Durga Chew, Christian Lorentzen, Orhan Pamuk, Lena Dunham, Chew, Bose, Yale's, it's, she'd, Taylor Swift, Elif Batuman, Swift, Janet Malcolm, Charlie Kaufman, Roth, we're, What's, Natalie Portman, Mila Kunis, It's, Elizabeth Morache, Rebecca Zisser, David Bergman Organizations: The New York, McGill, Times, New York Magazine, The, Yorker, Wesleyan University, Reading, Twitter, McGill ,, Wesleyan, Ivy League, Yale, Shapiro Center, Creative, NBA, Harvard, Bain & Company, Insider Yale, HBO, Congress, NPR, American Academy of Arts and Sciences, New York, Yahoo, Oxford, Oxford . McGill, University of Oxford, Penn State, Fordham University, Boston, Intelligence Squared, Yale Science, University, Whitney Museum, Netflix Locations: Rachel Comey's Soho, McGill , Oxford, Columbia, Norwegian, New Haven , Connecticut, New Haven, Adana, Turkey, New York, Cambridge, Montreal, United States, chiseling, Turkish

☆ How Merve Emre became the hottest — and most divisive — name in literary criticism
▼ + stars: | 2023-08-24 | by ( Anna Silman | ) www.businessinsider.com time to read: +40 min

☆ Michael Boyd, 68, Who Invigorated the Royal Shakespeare Company, Dies
▼ + stars: | 2023-08-08 | by ( Neil Genzlinger | More About Neil Genzlinger | ) www.nytimes.com time to read: +2 min

Michael Billington, a theater critic for The Guardian, had criticized the outgoing director, Adrian Noble, for “attempting to create a revolution within the R.S.C. Mr. Boyd, The Guardian said in summarizing his decade of leadership, presided “over a spectacular financial and architectural turnaround.”In announcing in 2011 that he was stepping away, he said the job had begun to wear on him. He continued to direct notable productions, including “Tamburlaine, Parts I and II,” the Christopher Marlowe classic, for Theater for a New Audience in New York in 2014. It’s a bloody tale from 1587 about the warrior Tamburlaine, and Mr. Boyd didn’t hold back; the show used 144 gallons of stage blood a week. For one effect, blood was pumped from beneath the stage so that it would creep up the skirt of a particular character.

Persons: Michael Billington, Adrian Noble, ” Mr, Boyd, “ I’ve, ”, “, Christopher Marlowe, Boyd didn’t Organizations: Barbican Center, The Guardian, Armory, Guardian, Birmingham Evening, Theater Locations: London, Stratford, Avon, Manhattan, New York

☆ Tupperware may not go out of business after all
▼ + stars: | 2023-08-04 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware was left for dead; a relic of a lost time when leftovers storage had but one dominant market player. In other words, Tupperware (TUP) has been given new life. Tupperware is still an extremely troubled brand, and the stock is still trading below $6 a share. Tupperware has been considering layoffs and property sales to stay afloat. Once sold exclusively by multi-level marketers, similar to Avon and Amway, Tupperware parties were a staple of a bygone era.

Persons: New York CNN — Tupperware, “, ”, Mariela Matute, aren’t, Tupperware, CNN’s Nicole Goodkind Organizations: New, New York CNN, Tupperware, ”, BlackRock, Amway, Target, New York Stock Exchange Locations: New York, Avon, noncompliance

☆ Shakespeare's works have inspired innovation for over 400 years. Now, 5G could make his plays even more immersive.
▼ + stars: | 2023-07-25 | by ( Sarah Sloat | ) www.businessinsider.com time to read: +6 min

The Royal Shakespeare Company has been using tech to transform The Bard's work for years. The Royal Shakespeare Company is a theater group based in Stratford-upon-Avon, England — Shakespeare's birthplace. The Royal Shakespeare Company hasn't used 5G in production yet, but the deployment is on "a very close horizon," Ellis said. In 2016, the Royal Shakespeare Company incorporated a digital avatar into a real-time performance of "The Tempest," Shakespeare's last play. A Royal Shakespeare Company actor performs in "Dream."

Persons: William Shakespeare, Sarah Ellis, Ellis, that's, Ellis —, it's, Ariel, Stuart Martin Organizations: Royal Shakespeare Company, Ericsson Locations: Stratford, Avon, England, Swedish

☆ It’s Toxic Slime Time on Florida’s Lake Okeechobee
▼ + stars: | 2023-07-09 | by ( ) www.nytimes.com time to read: +14 min

For thousands of years, Lake Okeechobee pumped life into Florida’s swampy interior. Lake Okeechobee 10 miles Lake Okeechobee 5 miles Lake Okeechobee 5 miles Algal bloom extent on June 12 Source: Satellite image by Landsat By Leanne AbrahamRainy season is just starting, but by late June the lake’s level was roughly two feet higher than the United States Army Corps of Engineers would like. Sunrise over Pahokee and Lake Okeechobee. “Like clockwork.”Similar outbreaks have struck lakes elsewhere, including Lake Champlain, Lake Erie and Lake Tahoe. Equally challenging to grasp is the idea that the whole new lake, as big as it sounds, will fill to capacity if only six inches of Lake Okeechobee is sent its way.

Persons: Ian, Fort Myers, Stuart —, Leanne Abraham Rainy, ”, Star Robinson, it’s, Herbert Hoover, Palm Beach Herbert Hoover, Leanne Abraham, Gil Smart, Robinson, It’s, Herbert Hoover Dike, Roy Senff, Okeechobee’s outflows, Sherwin, Williams, Hoover, Stuart, Nature, Col, James Booth of, Tim Harper, “, Biden, Ron DeSantis, Eric Eikenberg, Bill Mitsch, Mother Nature, Floridians, Stefani Hughes, Smart, VoteWater aren’t, They’re Organizations: United States Army Corps, Engineers, Army Corps of Engineers, Orlando Area, Air, Palm Beach Herbert, Everglades, States Geological Survey, Everett, Inc, Fort, Florida Water Management District, Florida Legislature, Gov, Everglades Foundation, Research, Florida Gulf Coast University Locations: Okeechobee, Fort, Pahokee, Lake Okeechobee, Ala, Orlando, Fla, Kissimmee, Florida, Myers, Gulf, Mexico, Miami, Ga, Palm, Everglades Miami, Lake Champlain, Lake Erie, Tahoe, Stuart, U.S.D.A, Manhattan, South Florida

☆ A Firefighter Drowns After Rushing into the Sea to Save His Daughter
▼ + stars: | 2023-06-11 | by ( Chelsia Rose Marcius | ) www.nytimes.com time to read: 1 min

The day began with a dip into the cool Atlantic waters along the New Jersey shore near Avon-by-the-Sea. Soon after, his daughter made a beeline toward the waves, splashing as she waded deeper into the dark blue. The narrow, fast-moving stream swept her farther and farther away from the shore. Mr. Batista rushed in to rescue her, friends and authorities said. But the ocean, in all its cruelty, pulled him under.

Persons: Mark Batista, Batista Organizations: New York Fire Department Locations: New Jersey, Avon

☆ Bear destroys 60 cupcakes after breaking into Connecticut bakery
▼ + stars: | 2023-06-03 | by ( Zoe Sottile | ) edition.cnn.com time to read: +1 min

Taste by Spellbound, a bakery in Avon, encountered the furry guest on May 24, according to a Facebook post. The bakery explained that a staff member was placing items in the shop’s loading garage when she saw a bear in the garage. “The bear then MOVED one of our fridges in front of the door.”One staff member called 911 while another got in her car and beeped its horn until the bear left. Police responded and the bakery’s landlord has been working with the Connecticut Department of Energy and Environmental Protection, according to the Facebook post. The bear chows down on the sweets before the car comes around, triggering the bear to retreat towards the nearby dumpsters.

Persons: ” Organizations: CNN, New Bedford Police Department, Police, Connecticut Department of Energy, Environmental, Facebook, Department of Energy Locations: Avon, Connecticut

☆ John Blake: The story about race I didn't know how to tell
▼ + stars: | 2023-05-02 | by ( John Blake | ) edition.cnn.com time to read: +14 min

John Blake, seen here in a second-grade photo, grew up as the son of a White mother and Black father. What I didn’t know was that my community had died long before the Freddie Gray protests. That’s the story I wanted to tell, but I didn’t know how. I didn’t know how to tell Harlow any of that because my story doesn’t fit traditional narratives about race or identity. My white family members didn’t change because I shamed them with an impressive lecture on systemic racism.

☆ Tupperware Brands boxes itself into a corner
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TORONTO, April 10 (Reuters Breakingviews) - Tupperware Brands’ (TUP.N) options are looking less airtight. As with other direct selling companies, it casts doubt over its business model, as well as how speedily it can remake itself as consumer habits shift. An earnings misstatement, which has left it late in filing its annual report, could cause creditors to declare Tupperware has violated its debt covenants. Even if Tupperware can appease its creditors or find new investors, the rise of e-commerce has dented the fortunes of companies that lean on direct selling. Compared with the company’s heyday, customers have more options for food storage, more places to buy from, and less time for Tupperware parties.

☆ Aesop deal spreads scent of stressed M&A
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

TORONTO, April 4 (Reuters Breakingviews) - The scent of stress is wafting from the Brazilian backer of Aesop. Natura (NTCO3.SA)agreed to sell the luxury lotion maker to French cosmetics giant L’Oreal (OREP.PA) for about $2.5 billion. It offloaded the successful investment to shore up its balance sheet, an M&A motivation that probably will spread. With recessions being anticipated in a higher interest rate environment, more companies are bound to consider a similar calculus. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ L’Oréal buys Aesop in $2.5 billion deal, its biggest acquisition ever
▼ + stars: | 2023-04-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —L’Oréal is buying Australian brand Aesop in a deal that values it at $2.5 billion, in the biggest brand acquisition ever made by the French beauty giant. The sale was announced Monday by Aesop’s parent, Brazilian firm Natura & Co, which also owns The Body Shop and Avon. It brings Aesop, which is known for its luxury skin and body care products, under the same umbrella as brands such as Garnier and Maybelline. The deal would be L’Oréal’s largest acquisition of another brand on record, followed by its $1.7 billion purchase of YSL Beauté in 2008, according to data from Dealogic. “Aesop taps into all of today’s ascending currents,” L’Oréal CEO Nicolas Hieronimus said in the statement.

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