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The Prada Group finalized its $1.38 billion cash acquisition of Milan luxury fashion rival Versace on Dec. 2, 2025, after securing all regulatory approvals, The Associated Press (AP) reports . Prada — known for its minimalist aesthetic and use of unconventional materials — said the 47-year-old Versace label, famed for its maximalist aesthetic and sensual silhouettes, holds “significant untapped growth potential,” per AP. Donatella Versace, the brand’s artistic director and co-owner, celebrated the deal in an Instagram post that also honored her late brother, company founder Gianni Versace, on his birthday. “Today is your day and the day Versace joins the Prada family. I am thinking of the smile you would have had on your face,” Versace wrote. View this post on Instagram A post shared by Donatella Versace (@donatella_versace) First announced in April 2025, the highly anticipated deal is expected to help relaunch Versace’s fortunes. Capri Holdings, which also owns Michael Kors and...
Starbucks will pay $38.9 million after New York City’s Department of Consumer and Worker Protection (DCWP) found the company violated fair work schedule laws over half a million times since 2021. New York Mayor Eric Adams and the DCWP announced the settlement in a news release on Monday, Dec. 1, 2025, calling it the largest worker protection payout in the city’s history. “It does not matter how big your business is or how much money your company makes, if you violate our workers’ rights, you will pay the price,” Adams said in a statement. “With this landmark settlement , we’ll put tens of millions of dollars back into the pockets of hard-working New Yorkers and reinforce every New Yorker’s right to a reliable schedule, full hours, and basic dignity.” DCWP launched its investigation in 2022 after receiving dozens of worker complaints at several Starbucks stores in the city. After uncovering “a pattern of systemic violations,” the agency expanded the probe to every Starbucks location...
U.S. shoppers spent a record $11.8 billion online during Black Friday (Nov. 28), the annual shopping event held the day after Thanksgiving, according to Reuters. Per the outlet, Adobe Analytics reported a 9.1% jump in sales from 2024, driven in part by the rise of AI-powered shopping tools. This year, shoppers increasingly skipped crowded stores and instead used chatbots to compare prices and find discounts. Adobe Analytics, which tracks 1 trillion online retail visits, found that AI-driven traffic to U.S. retail sites surged 805% from last year, which was before tools like Walmart’s Sparky and Amazon’s Rufus had launched. “Consumers are using new tools to get to what they need faster,” said eMarketer analyst Suzy Davidkhanian, per Reuters. “Gift giving can be stressful, and LLMs (large language models) make the discovery process feel quicker and more guided.” LEGO sets, Pokémon cards, Nintendo Switch, PlayStation 5 consoles, Apple AirPods, and KitchenAid mixers were among the...
Marvin Ellison ’s journey to becoming president, CEO, and chairman of Lowe’s began far from the boardroom. While attending the University of Memphis, he worked part-time at Target, earning $4.35 an hour, according to Fortune. “I was fortunate to land in a company that believed in developing people, and I just grinded it out for 15 years all the way up to a director level,” Ellison told Daymond John, the entrepreneur behind FUBU and an investor on “Shark Tank,” in a 2022 interview. That early experience shaped how Ellison approached his career, especially as someone who didn’t come from a traditional corporate pedigree. “I didn’t have an Ivy League education. I didn’t have any stellar international opportunities or stints on my resume. I’m competing against all of these exceptionally talented people on paper; I had to find a way to differentiate myself,” he shared in the interview. His strategy became simple but demanding: Take every tough assignment no one else wanted. “I’d take...
Kohl’s has officially named Michael Bender as its permanent CEO, putting a seasoned retail executive in charge after a turbulent period for the department store chain, the New York Post reports. According to the outlet, Bender, who stepped in as interim CEO in May 2025 following the dismissal of Ashley Buchanan, now faces the challenge of steering the company through declining sales, profit pressure, and shifting consumer habits. In a company press release, Bender said, “I’m honored to take on the role of CEO at Kohl’s. Working with the teams over the last six months has deepened my love of this company and my conviction in what’s possible for our future.” He added, “Kohl’s has a storied and important role in the retail industry, serving and celebrating families with great products, compelling value, and a differentiated shopping experience. I’m looking forward to reestablishing our leadership position by putting our customers first every day. While we’re pleased by our recent...
As anticipation continues to build for “Grand Theft Auto 6” (“GTA 6” or “GTA VI” ), one of the most anticipated video game releases in recent memory, new reports suggest that fans will have to wait a bit longer. Rockstar Games’ ‘GTA’ 6 Release Date Announced According to Reuters, publisher Take-Two Interactive has pushed the release date for Rockstar Games’ next major title, “GTA 6,” to Nov. 19, 2026. The announcement represents the second public delay, postponing the launch from May 2026, the outlet reports. Take-Two’s stock dipped about 6% following the news, but industry analysts told Reuters the delay could actually strengthen the game’s commercial potential. Releasing during the holiday season could align “GTA 6″ with peak consumer spending and major console promotions. “Releasing it closer to the holiday season allows for more opportunities to bundle with the tail end of current-gen consoles, making it more valuable to Take-Two because of the marketing dollars the console...
Atlanta-based Goodr Co. is stepping up for the community as millions are set to experience a pause in Supplemental Nutrition Assistance Program (SNAP) benefits. In an Instagram video shared Wednesday, Oct. 29, 2025, Goodr Founder and CEO Jasmine Crowe-Houston issued a call for help. “As many of you may have heard, millions of people will lose their SNAP benefits in just a few days, including hundreds of thousands right here in Metro Atlanta ,” Crowe-Houston said. “What this means is that their grocery budgets will disappear overnight. At Goodr, we’re stepping up to fill the gap,” she continued. The tech-enabled sustainable food waste management company has launched the Goodr Community Fund, allowing the public to make a direct impact. For a $10 donation, donors can sponsor a “grab bag” meal that feeds a family of four. For an additional $5, Goodr will deliver groceries and meals directly to seniors and families. View this post on Instagram A post shared by Goodr Inc (@goodrco)...
NBA Hall of Famer Charles Barkley is expanding his business ventures with a new 6,800-square-foot steakhouse and cigar lounge at Valley Forge Casino Resort in King of Prussia, PA, according to the Philadelphia Business Journal. The property’s owner, Boyd Gaming Corp., has not yet announced the name of the steakhouse or its official opening date. The company confirmed Barkley’s involvement and said the new venue will be located near the casino’s food court. Barkley, who played eight seasons with the Philadelphia 76ers after being drafted in 1984, said in a statement that he wanted to “bring something new” to the Philadelphia area, which he described as a place that has “always felt like home.” “We’re creating a spot that’s fun, comfortable, and full of personality,” Barkley said. “I want it to be the kind of place where people can unwind, share a great meal, and feel that same energy and connection that make this community so special.” According to the Philadelphia Business Journal,...
In a move marking the first major round of Target layoffs in over a decade, incoming CEO Michael Fiddelke announced that the company will cut 1,800 corporate jobs for an 8% reduction in its corporate workforce. According to CNBC, Fiddelke shared the news in a memo to employees at Target’s Minneapolis headquarters on Thursday, Oct. 23, 2025. He said the retailer is focused on regaining growth after four years of roughly stagnant sales. “This spring, we launched our enterprise acceleration efforts with a clear ambition: to move faster and simplify how we work to drive Target’s next chapter of growth,” Fiddelke wrote. “The truth is, the complexity we’ve created over time has been holding us back. Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life,” he continued. A Target spokesperson reportedly told CNBC that the eliminated roles include about 1,000 employee layoffs and roughly 800 positions that will not be refilled. Affected employees...
A Black-owned business has moved into one of the busiest airports in America. Golden Krust Origins Golden Krust Caribbean Bakery (Golden Krust) is a family-led business founded by Lowell Hawthorne, who credits his parents, Mavis and Ephraim, for the idea. The couple ran Hawthorne & Sons Bakery in St. Mary, Jamaica, for more than 50 years with the help of their 11 children. The business was known for giving back to the community through feeding the hungry and supporting education efforts, according to an Instagram post. In 1989, the Hawthorne siblings and their spouses packed their bags with a dream and pooled their savings to move to New York and start fresh with Golden Krust Caribbean Bakery, located in The Bronx, as outlined on the company website. Lowell served as president and CEO until his passing in 2017. PC: Golden Krust Making History Golden Krust Caribbean Bakery reportedly became the first Caribbean-owned franchiser in the U.S. in 1996, notes the company website. Over...
Amazon has settled a lawsuit regarding its Prime subscription. Amazon Settlement CNN reports that Amazon was sued in 2023 by the Federal Trade Commission (FTC) for allegedly tricking its customers into enrolling in its Prime subscription service and making it difficult to cancel. The FTC claims it violated the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA). The lawsuit, which also targeted several Amazon executives, has been settled for $2.5 billion, according to a news release. It will pay a $1 billion civil penalty — reportedly the largest in a case involving an FTC rule violation — and provide $1.5 billion in refunds to nearly 35 million customers “harmed by their deceptive Prime enrollment practices.” Additionally, Amazon must end its unlawful practices surrounding Prime enrollment and cancellations . “Today, the Trump-Vance FTC made history and secured a record-breaking, monumental win for the millions of Americans who are tired of deceptive subscriptions that...
Target CEO Brian Cornell is stepping down from his post. According to AP News, Cornell took on the role of CEO in August 2014. He was tasked with remodeling stores and positioning its online business to rival Amazon , per CNN . Eight years later, the board extended his contract and removed a policy requiring chief executives to retire at 65 years old. On Aug. 20, 2025, it was announced that Cornell, 66, will step down as CEO. Michael Fiddelke — who has been with the company for two decades, started as an intern and became COO — has been appointed to the role of CEO. He was selected from a “strong list of external and internal candidates” and was the “right candidate to lead our business back to growth,” analysts confirmed with CNN. Cornell will serve as Target’s executive chairman, and Fiddelke will officially lead as CEO starting Feb. 1, 2026, Yahoo Finance reports. “I’ve had this conversation with the board for a number of years, and I’ve been in the role for 11 years. I’m going...
Walmart is investing in AI to power its next phase of digital transformation. On Thursday (July 24), it announced four AI-powered “super agents” designed to improve customer experience and “streamline operations,” Reuters reports. The goal is to grow e-commerce to 50% of total sales within five years. According to Reuters, the new AI agents, which are tailored for shoppers, associates, suppliers, and developers, are built on agentic AI, a technology designed to perform complex tasks with minimal human input. Sparky And The Shopper Experience Sparky, a generative AI tool, is already live in the Walmart app, Reuters reports. Customers can use it to get product suggestions, find printer ink, summarize product reviews, and more. Per the outlet, as a super agent, it will soon be able to reorder frequently purchased items, plan events, and suggest recipes using computer vision to scan fridge contents, according to Hari Vasudev, Walmart’s U.S. chief technology officer. Internal Tools For...
After four years, Diarrha N’Diaye-Mbaye, founder of the clean beauty brand Ami Colé, announced on Instagram on Thursday (July 17) that she’s winding down the company. What began as a mission to create makeup that truly works for melanin-rich skin, grew into much more. It became a movement and a metaphorical home for many, just like the salon her mother once built, she noted. In the heartfelt post, N’Diaye-Mbaye called this moment “another love letter, not a goodbye.” View this post on Instagram A post shared by Ami Colé (@byamicole) “We were a brand rooted in purpose, storytelling, and the bold celebration of who we are,” she wrote. “Let’s not forget bomb ass products!” From the earliest sketches in her Brooklyn, NY, apartment to seeing Ami Colé’s products on Sephora shelves across North America, she noted, N’Diaye-Mbaye turned a vision into reality. “This moment is bittersweet… Thank you for everything you’ve taught me about living your dreams out loud,” she wrote. She also...
Chris Paul’s plant-based venture is making its way into another major retailer. In 2019, the NBA player, who was in his 15th season at the time, made the decision to adopt a plant-based diet, GQ reports. While the initial switch was performance-driven, he made the change indefinite after noticing a reduction in routine inflammation and body aches, along with improved stats on the court. “It’s been a good lifestyle change for me,” he told the outlet. Paul, who according to Spotrac has reached $400.9 million in career earnings, has also made plant-based living a central part of his business strategy. As AFROTECH™ previously reported, he invested in Black-owned plant-based brand Misha’s, which is also backed by Jay-Z. In 2021, Paul also struck a deal with digital delivery service GoPuff to expand its “Better For You” product category in the interest of making plant-based products more accessible. A year later, this led to Good Eat’n being introduced with offerings such as chips,...