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Samir Goshayeshi, the discreet cosmetics magnate behind the Smallable takeover

AA Investments is managed by Morteza 'Samir' Goshayeshi, a 64-year-old Frenchman of Iranian origin living in Dubai.© Studio Pachamama

Dubai-based French-Iranian businessman Samir Goshayeshi is stepping up his takeovers of struggling luxury and fashion players via his Hong Kong-based holding company AA Investments. After acquiring luxury e-commerce site Smallable and several perfume and cosmetics brands, he now has his sights set on Y/Project.

Subscribers only France, Iran Entourage

Families

Jane Lauder boosts stake in Estée Lauder while curtailing role

The cosmetics heiress plans to withdraw from her operational role in the family business at the end of the year, but she has bolstered the number of shares she holds significantly.

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Isocrates Foundation refreshes board amid row with its Hermès-heir founder

The Isocrates Foundation was set up as a future home for the 5.7% of Hermès inherited by founder Nicolas Puech. But the organisation has been at loggerheads with Puech for the past two years, as he attempts to revoke the endowment arrangement.

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Houses

Golden Miles
Kering looks to cut Gucci losses with sale of Vendôme quarter flagship building

Kering is still planning to set up a Gucci megastore in Paris's Place Vendôme district.© Studio Pachamama

Two years after acquiring four buildings for nearly €800m in Paris's Place Vendôme district, Kering still plans to open a giant Gucci store there. But the François-Henri Pinault-led luxury group wants to sell the properties to cut costs and keep only a minority stake.

Subscribers only France

Inside LVMH's spirited drive to pre-empt Trump's looming alcohol tariffs

The French luxury goods giant, badly stung by US trade barriers raised in 2019, acted to protect its ailing wine and liquor interests well before Donald Trump's election to a second term of office. Hiking tariffs on a range of imports, including alcoholic drinks, was a pillar of the US president-elect's campaign platform.

Free access

Luce app lets Kering keep close eye on sales staff

Glitz.paris has been given access to Luce, an application developed by Kering that oversees all relations between sales staff and customers of the French luxury group's brands.

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Headbutts and harassment: trouble at the Ritz

The Ritz Paris has been ordered to pay hefty compensation to one of its former employees in a lawsuit over workplace bullying. Meanwhile, lawyers representing women accusing the hotel's late owner, Mohamed Al Fayed, of sexual harassment have announced they intend to take the hotel to court.

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Entourage

Saint-Ouen flea market in luxury brands' firing line over counterfeits

Three months on from the Paris 2024 Olympic Games, which prompted a series of anti-counterfeiting operations, the flea market north of the French capital remains a hub for counterfeit products. But local mayor Karim Bouamrane, who nurtures higher political ambitions, is reluctant to take on the illicit traders.

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On Via Montenapoleone, the parish of San Francesco da Paola succumbs to luxury

The last property owner not yet linked to the luxury sector on Milan's ultra chic Via Montenapoleone, the parish of San Francesco da Paola, is having to rent out a building. Antonella Mastrototaro's 18Montenapoleone is the agency in charge.

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Les Domaines de Fontenille on the hunt for new equity investors

The luxury boutique hotel group's losses are piling up, and it is looking to bring in new equity investors alongside the minority shareholders that have helped it grow so far, not least the Meyer-Dreyfus family.

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