Philippe Cornu, who has been working at the French cosmetics group for over thirty years, is replacing Alain Evrard at the global helm of acquisitions and external business development coinciding with his retirement.

The agreement between both companies, which operate over 240 stores in Germany, was signed last July and sees Signa, owner of Karstadt, turn majority shareholder with a share slightly over 50%.

The founder of the Chinese ecommerce giant will hand over the role to Daniel Zhang, currently chief executive officer. Ma has pointed out that his exit will enable “younger and more talented” people to be at the front.

The company expects to increase its revenues by 6%, fuelled by the store openings carried out throughout the fiscal year. The fashion retailer, owned by AB Foods, has blamed its negative performance in northern Europe to altered weather conditions.

The Spanish group will sell via ecommerce worldwide by 2020, regardless if it operates brick-and-mortar stores or not. Besides, the company will integrate both its online and offline stock and take advantage of its physical capillarity in front of Amazon or Asos.

Pablo Isla, the group’s chairman and chief executive officer, has announced today in Milan that Zara’s parent company will sell online in all countries worldwide and with all retail concepts within two years.

The British sporting goods retail chain has acquired all business assets, including the stores and the stock, of the department store chain, which went into administration.

The German sporting goods retailer ended the first six months with a net profit of 938 million euros, while revenues reached 10.8 billion euros, up 3% year-on-year.

The American retail chain is working on an online-only clothing label aimed at young consumers. The project is spearheaded by Andy Dunn, founder of Walmart-owned ecommerce site Bonobos.

The company, owned by the French luxury conglomerate, could soon incorporate Jenny Galimberti, global director of communications and events at Louis Vuitton, as its CEO.

The German company will inaugurate the shop in August, located in the Westfield London shopping centre. The store opening occurs two years after the company simplified its brand portfolio.