Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.

During her tenure, Drucker Mann was instrumental in ushering the business into the digital age, said Roger Lynch, Condé Nast’s chief executive.

The miner set out its plans for a potential break-up via a demerger or sale of some of its assets, as it fights off a $43 billion takeover bid from BHP Group.

The company, whose stock soared to a record during the pandemic, has languished as faster inflation and shoppers returning to stores pummelled sales in 2022 and 2023.

This week’s round-up of global markets fashion business news also features Burberry’s trademark dispute in China, pan-African e-tailer Jumia and South Korea’s investigation into Coupang.

The growing popularity of ‘T-beauty’ brands across Asia has made their home country an increasingly important market for global players.