Reformation is filing for an IPO this summer. Permira needs an exit and the window is open.
Reformation's confidential IPO filing, expected as soon as next week with a potential listing in July, is as much a Permira story as a brand story.
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Economy
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Economy
15 recent storiesSchwab is tightening margin on tax-driven long-short trades. Forced deleveraging is the risk to watch.
Charles Schwab is raising house maintenance requirements on portfolio margin accounts running paired long-short positions structured around tax-loss harvesting, warning clients that margin calls may arrive faster and with less notice than they…
ASICS is spinning out its most profitable business. Not to float it, to run it harder.
Onitsuka Tiger delivered 34% net sales growth to 46.8 billion yen in ASICS's latest quarter, with trade sources citing an operating margin of around 38%, making it one of the highest-margin fashion footwear businesses in the world and structurally…
Australia's Sigma withdraws from $10 billion Boots bid
Sigma Healthcare withdrew from the sale process for UK retailer Boots after concluding the up to $10 billion acquisition would not meet its strategic or capital-investment objectives.
SoFi Stadium workers avert World Cup strike with $40+ hourly wages
About 2,000 hospitality workers reached a tentative deal with food operator Legends Global days before the venue hosts the US men's opening World Cup match.
GLP-1 users overwhelm retailers with clothing returns as sizes shrink
Americans on weight-loss drugs are triggering a surge in clothing returns, especially larger sizes, as while shedding weight. Retailers from Walmart to Levi's face higher reverse-logistics costs and inventory planning challenges as users cycle…
Nissan signs deal for Chery to build cars at Sunderland
The non-binding agreement would see China's third-largest carmaker assemble Omoda and Jaecoo branded vehicles at Nissan's UK plant starting in 2027.
Venezuela opens power sector to private investment
The National Assembly is debating a draft law allowing private companies to participate in electricity generation and sales under state concessions for the first time in 15 years.
Barry Diller bids over $18bn for MGM in pivot from media to gaming
People Inc's proposal to buy the remaining 74% of MGM Resorts for $48.30 per share represents more than an acquisition, it's a complete strategic transformation for Barry Diller's empire.
UK's craft beer boom goes flat as breweries call last orders
Britain's brewery count is falling after growing from 500 in the early 2000s to over 3,000 by the late 2010s, with in the year to March 2023 versus 15 the prior year.
British Airways seeks £10mn from Heathrow over baggage chaos
British Airways is demanding up to £10 million from Heathrow after a Terminal 5 baggage system failure left 20,000 bags stranded over the weekend of 17-18 May.
Dua Lipa seeks $15m from Samsung over unauthorized TV box image
Dua Lipa is demanding at least $15 million from Samsung after the electronics giant used her copyrighted image from Austin City Limits 2024 on television box packaging without permission across US retail stores.
oOh!Media draws rival $554m bid from I Squared
Infrastructure investor I Squared Capital has trumped Pacific Equity Partners with a $1.45 per share offer for the Australian out-of-home advertising company, valuing it at A$766 million versus PEP's A$747 million bid.
The fast follower fallacy costs more than first-mover risk
Microsoft Office represents the lone success story in a strategy that fails far more than it succeeds. Fast following requires the same market insight as leading but without first-mover advantages like customer loyalty and switching costs.
Private equity pitches AI as saviour for pandemic-era software bets
Major PE firms used the Milken Institute conference to position AI as the solution to overvalued software investments made during the 2020-2022 remote-work boom, with Ares, Blackstone, and Blue Owl deploying proprietary scorecards to reassure…
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