The Commerce Brief: Fri 30th May

Welcome to another exciting week in the world of eCommerce and retail 🛍️

🗓️ This week’s industry updates

💄 e.l.f. Acquires Hailey Bieber’s Rhode for $1B
In a bold beauty move, e.l.f. BEAUTY has acquired Rhode for $1 billion. Since its 2022 debut, Rhode has carved out a leading space in celeb beauty. Hailey Bieber stays on as Chief Creative Officer and Head of Innovation. Meanwhile, e.l.f. announced it will raise product prices by $1 starting Aug. 1 due to inflation and tariffs - though 75% of SKUs will remain under $10. (source 1, source 2)

👖 Abercrombie & Fitch Stock Surges +25%
A&F beat Q1 expectations and forecast strong annual sales, thanks to strategic investments in denim and dresses - drawing in more shoppers and boosting brand relevance. (source)

📈 Temu & SHEIN Surge Across Europe
As U.S. growth slows, Temu saw +60% YoY growth in the EU in early May - led by France at nearly +100%. SHEIN continues to scale, especially in the U.K., where growth is around +50%. (source)

💼 SHEIN Considers Hong Kong IPO
SHEIN is reportedly pivoting to a Hong Kong stock listing after facing Chinese regulatory hurdles in its attempt to float in London. (source)

📉 PDD Holdings Profits Down -50%
Temu’s parent company saw profits decline due to U.S. import tariffs and mounting competition in China’s domestic market. (source)

🔨 Kingfisher Sales Rise +1.6%
The owner of B&Q posted £3.3B in Q1 sales, with strong performance in seasonal and big-ticket categories driving like-for-like growth of +1.8%. (source)

🐾 Pets at Home Profit Jumps +23.3%
Amid transformation efforts, the company posted £75.9M in pre-tax profits from its veterinary arm, reflecting rising pet care demand. (source)

🔐 adidas Hit by Cyber Attack
Customer service-related contact data was stolen in a cyber incident. The company stated that there was no operational disruption. (source)

📉 The Very Group Revenue Drops -2.5%
Despite strong home category sales, overall revenue declined over the 39 weeks to March 29, 2025. (source)

🛍️ Inditex Bets Big on Budget Brand Lefties
Inditex plans to open 200 new Lefties stores across Western Europe to compete with low-price players like Primark and Zeeman. (source)

📊 Otto Group Swings Back to Profit
After a prior loss of €426M, Otto Group posted €165M in net profit, with ABOUT YOU reporting strong performance and €2B in revenue. (source)

The Commerce Brief