MILAN, July 17 (Reuters) - French-Italian eyewear maker EssilorLuxottica has agreed to buy streetwear brand Supreme from U.S. apparel and footwear group VF Corporation ( VFC ) for $1.5 billion in cash, both companies said on Wednesday. The sale of Supreme is expected to be dilutive to VF's earnings per share in fiscal 2025, according to the joint statement. The...

(Reuters) - Italy's competition authority (AGCM) said on Wednesday it had started an investigation into luxury fashion groups Armani and Dior over the alleged exploitation of workers in their supply chain. Milan prosecutors ordered several Chinese-owned firms that are based in Italy and that produced luxury goods for Dior and Armani to be put under administration. The prosecutors had accused...

(Reuters) - Reckitt said on Wednesday short-term sales of its Mead Johnson baby formula powder are likely to be affected after a tornado struck a third-party warehouse in Indiana that sustained significant damages. The Mount Vernon warehouse, currently not operational after the tornado struck on July 9, is an important site for Mead Johnson Nutrition business that contains both raw...

By Hritam Mukherjee and Haripriya Suresh BENGALURU, July 17 (Reuters) - The state government of Karnataka, home to India's tech hub Bengaluru, has approved a bill mandating 50%-70% jobs for locals in companies, a move that could make it harder for global firms operating there to attract talent. Bengaluru is home to about 14 million people, and thousands of Indian...