Brands
Shantnu Nikhil’s Piazza Nova celebrates five years of prêt-a-porter panache, with a dash of royal spice
MUMBAI: Shantnu Nikhil, darlings of the Indian fashion scene, have just celebrated five years of their S&N prêt line with a runway spectacle that had Lakmé Fashion Week buzzing like a hive of very stylish bees. They’ve democratised luxury, they claim, bridging the gap between couture and ready-to-wear, and frankly, who’s to argue when they’ve got 17 stores across eight cities and a website that’s practically bursting at the seams with eager buyers, both local and international.
Their secret? A blend of heritage and cutting-edge design, appealing to the young and the aspirational. For their anniversary bash, the duo unveiled Piazza Nova, a collection that’s a right proper potpourri of sharp suits, bold printed shirts, and relaxed silhouettes, all with a dash of wide lapels and enough embroidery to make a magpie blush.
Men’s wear took centre stage, with a sprinkling of women’s wear thrown in for good measure. Think mix-and-match coordinates, jackets that scream “look at me,” and enough sartorial swagger to fill a palace.
“We wanted to create a platform for personal expression,” said Shantanu Nikhil, “a brand that lets people define luxury on their own terms. Piazza Nova is a celebration of those ‘moment makers’ who’ve used our designs to tell their own stories.”
And speaking of moments, Ibrahim Ali Khan, looking every inch the royal heartthrob, sashayed down the runway in a sand-coloured bandhgala jacket, slim trousers, and a crisp white shirt, causing more than a few fashionistas to clutch their pearls.
Piazza Nova wasn’t just a collection of clothes, you see. It was a collection of stories, emotions, and a whole heap of style, blending tradition and contemporary vision like a perfectly mixed cocktail. Shantnu Nikhil have certainly earned their five-year stripes, and they’re showing no signs of slowing down. They’ve built a brand that’s both regal and ready-to-wear, and frankly, it’s a right royal treat.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
