Australian model and actress Miranda Kerr has handed over millions of dollars worth of jewelry that U.S. authorities say was given to her as part of a Malaysian money laundering scheme, her spokesperson said on Tuesday.
L Brands-owned Victoria's Secret Stores LLC has agreed to pay $12 million to settle a class action brought by 40,000 former employees who alleged the company's call in wages policy cheated them out of hourly pay.
French investor Eurazeo, which has major holdings in Moncler and Desigual, wants more fashion investments after launching Eurazeo Brands, to expand into "European and US brands with international growth potential."
The drop represents the fifth consecutive month in declining sales for the Victoria's Secret parent company. L Brands reported net sales of $774.3 million in May and a 7% decrease in comparable sales for the same period.