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Featuring Artemis Patrick, President and CEO, Sephora North AmericaModerated by Elizabeth Segran, Senior Staff Writer, Fast Company Sephora isnt just shaping beautyits shaping culture. From its trendsetting beauty festival to partnering with Hulu for its Faces of Music docuseries to sponsoring women’s sports, the brand has become a force at the intersection of beauty, entertainment, and lifestyle. Under the leadership of Artemis Patrick, CEO of Sephora North America, the company is amplifying this influence while also embarking on its largest capital project yet: a full redesign of all 600+ North American stores over the next five years. Hear from Patrick on how Sephoras cultural reach and bold retail transformation are redefining what it means to be a modern brand.
Category:
E-Commerce
The European Union is falling further behind global rivals on growth and governments are failing to grasp the urgency to act, former European Central Bank president and Italian prime minister Mario Draghi said on Tuesday. Draghi, who delivered a far-reaching report on EU competitiveness at the European Commission’s request 12 months ago, said the EU’s growth model was “fading fast”, vulnerabilities were mounting and there was no clear path to financing necessary investments. Draghi said the bloc had come up with ambitious plans, but it was moving ahead too slowly and governments had “not grasped the gravity of the moment”. “To carry on as usual is to resign ourselves to falling behind. A different path demands new speed, scale and intensity. It means acting together, not fragmenting our efforts,” he told an audience of EU officials, including European Commission President Ursula von der Leyen, in Brussels. Squeezed by U.S. tariffs Draghi addressed a number of challenges facing the European Union, now squeezed by U.S. tariffs and a trade deficit with China that has expanded by 20% since December 2024. In AI, the European Union was building gigafactories and expanding data centre capacity, but gaps were clear. The United States produced 40 large foundation modelslearning based on large datasetslast year, China 15 and the EU just three. Draghi said more action was needed to address barriers to scaling up in Europe, regulation on the use of data and adoption of AI by industry. Energy prices, such as natural gas nearly four times higher than in the United States, were also a constraint on technology, with AI electricity demand set to rise 70% in Europe by 2030. Europe had structural problems to fix, but the main step taken by EU countries had been to subsidise prices for temporary relief. “The more we push reforms, the more private capital will step up and the less public money we will need. Of course, this path will break long-standing taboos, but the rest of the world has already broken theirs,” Draghi said. Philip Blenkinsop and Tierney Kugel, Reuters
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E-Commerce
Nissan Motor has reduced its production plan for the new model of its Leaf electric vehicle by more than half for September-November owing to delays in battery procurement, the Nikkei business daily said on Tuesday. Lower than expected battery yields at a Nissan affiliate had caused the revision, the Nikkei said, adding that the Japanese automaker planned to release the new EV model by the end of the year. The newspaper did not specify the original or revised production targets but said that the output plan has been cut by up to several thousand vehicles a month at its Tochigi plant in eastern Japan, where the new version of the Leaf is made for the U.S. and Japanese markets. Nissan said it did not have any comment on speculative reports, adding that the new model was progressing on schedule towards its planned launch. The company, which has gone from mass-market EV pioneer to laggard since its first model entered showrooms in 2010, is betting on the new version of its Leaf model to revive its fortunes. This is not the first time Nissan’s EV production has hit a snag. Another of Nissan’s electric vehicles, the Ariya, was hampered by problems at its high-tech production line at the Tochigi plant in 2023, Reuters reported at the time. Shares in Nissan closed 0.4% down before the Nikkei report, underperforming a 0.3% gain for the benchmark Nikkei average. Daniel Leussink, Kiyoshi Takenaka and Satoshi Sugiyama, Reuters
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E-Commerce
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