Lady Tea

Good morning.

Two take-privates, a $1.23B week for women founders, and a bra that costs more than most of those startups raised. Here's what mattered.

☕ The Big Pour

Keeping it in the family. The Penske family company and Japan's Mitsui are buying all of Penske Automotive, a huge car dealer. That takes it off the stock market. This is called a "take-private."

• Price: $212 per share
• Deal size: about $16.3 billion
• Expected close: early 2027

Source

The takeaway Nobody knows a company better than the people buying it back.

🥂 Quick Sips

• CCC is going private. Investment firms GTCR and Elliott are buying it for $6.1B. Source
• BlackRock buys into clinics. It's paying about $2.8B for a piece (a "stake") of the companies behind ~150 senior-care clinics. Source
• Brookfield bets on batteries. About $7B for Aypa Power, which builds energy storage. Source
• Unilever sells Welly. The colorful bandage brand goes to an investment firm. Source

💸 Money Moves

A billion-dollar week for women founders. Startups founded by women raised about $1.23B in one week, according to WINS LIST.

• Sasha Sheng's TypeSafe AI raised $870M. Investors now value it at $7.5B.
• Dr. Sarah Osentoski's Vinci raised $250M. It's now valued at $1.5B.

Source

The takeaway Two deals made up most of that total. Big week. Not yet a trend.

Women's health gets a serious check. Rachel Blank's Allara offers online care for hormone health. It raised $30M. Is raising easier now that women's health is trendy? Her answer: "That hasn't been our experience." Source

The takeaway Investors still want proof, not a pitch.

New women in charge

• Amy Fenton is now CEO of Toluna. She replaces its founder of 25 years. Source
• Laura Granahan moves from CFO (head of finance) to CEO at Finvi. Source
• Tammi Gaskins becomes CEO of Ironwood Pharma on Jan. 1. Source
• Havi Nguyen's Abby Care raised $82M. It helps families care for relatives at home. Source

👗 Runway Report

Vaccarello exits Saint Laurent. After 10 years, Anthony Vaccarello is leaving. Chloé's designer, Chemena Kamali, is expected to take over. The brand's sales fell 6% in 2025. The new goal: grow in Asia. Source

The takeaway In luxury, a new designer is also a business plan.

Paris trends for next spring:

• Separates you can mix and match
• Skirts, everywhere
• Calm colors: butter, lavender, sage
• The puffy '80s "pouf" skirt is back

Source

🏛️ Power & Policy

Mexico–U.S. trade deal: close, not done. President Sheinbaum says the two countries are "very close" on the USMCA (T-MEC) trade deal. Mexico wants lower tariffs on cars, steel and aluminum. Tariffs are taxes on imported goods. Source

The takeaway She also says some issues are still open. "Very close" is not a signature.

A record number of women running for governor. 26 women are on the ballot for governor in the U.S. elections on Nov. 3. Deb Haaland could become the first Native American woman governor. Source

🌟 Red Carpet

Kylie Jenner, $50M bra. She wore the Fantasy Bra at the Victoria's Secret show on Oct. 18 (price per Vogue). Us Weekly says she's the first non-Angel to wear it on the runway. Source

The takeaway Victoria's Secret made about $6.5B last year, per Vogue. The show is marketing, not charity. Source

Oscar watch. Christopher Nolan's The Odyssey leads the Best Picture race for now. Netflix's La Bola Negra is "moving up fast." Source

🫖 Hot Tea

• Front row: Kris Jenner and Timothée Chalamet were in the audience for Kylie. Source
• Shade: One analyst says the Saint Laurent switch "adds problems to problems." Source
• Timing: Vaccarello still gets a big CFDA fashion award on Nov. 2. Source

Brunch stat: More than half (52.8%) of Democratic candidates for governor this year are women. Source

Know someone who should read this? Forward it.

Spilled the tea, until next week 😘

— Lady Tea

For information only. Not investment advice. All numbers come from the linked sources.