Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstance kept the South American nation insulated from the trend until later.

Spanish beauty and fragrance group Puig Brands SA shares rose after the company and its founding family raised €2.6 billion ($2.8 billion) in an initial public offering, in Europe’s biggest listing so far this year.

The skincare-to-smoothie pipeline arrives.

Puig and Space NK are cashing in on their ability to tap the growth of hot new products, while L’Occitane, Olaplex and The Estée Lauder Companies are discovering how quickly the shine can come off even the biggest brands.

As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.

A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.