Articles by AFP
Walmart profits rise on strong sales from wealthier shoppers
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Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales. Profits more than tripled to 5.1 billion USD for the quarter ending April 30 on a six percent rise in revenues to 161.5 billion USD. Earnings in the 2023 period were...
Victoria's Secret reviving fashion show after six-year hiatus
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New York - American lingerie giant Victoria's Secret announced Wednesday that its annual fashion show, scrapped after 2018 due to sluggish sales and diminishing audiences, will return this fall bringing high-profile models back onto its catwalk. In a video posted on Instagram the company announced "the runway show is back this fall," without...
Chinese tech giant Alibaba posts 8 percent rise in revenue for past fiscal year
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Chinese e-commerce giant Alibaba announced Tuesday a modest increase in annual revenue, as the firm pursues a major overhaul and regulatory curbs on the country's tech sector are relaxed. The Hangzhou-based company is one of the biggest players in China's tech industry, with operations spanning retail, digital payment, artificial intelligence...
Swift and Beyonce show the lucrative pop-fashion liaison
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The return of mega-concerts since the Covid-19 pandemic, with Beyonce and Taylor Swift leading the way, has highlighted the lucrative links between fashion brands and pop stars. Stage costumes have long been a way for designers to gain massive exposure -- think of Madonna's conical breasts that helped make French designer Jean Paul Gaultier a...
Pro-Palestinian demonstrators protest outside the Met Gala
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Protesters in New York converged near the Met Gala on Monday in a rally against the ongoing war in Gaza, leading to several arrests, police said. Among the rallying points were the gates of Columbia University, which has been the center of spreading demonstrations, before protesters marched through Manhattan to American fashion's biggest night...
Amazon set to invest 9 billion dollars in Singapore
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Amazon said Tuesday it would invest 9 billion USD in Singapore over the next four years to expand its cloud computing capabilities in the city. The announcement comes after fellow tech titan Microsoft unveiled billions of dollars of investment in the same sectors in Southeast Asia last week as firms look to take advantage of growing demand in...
Showbiz elite descend on Manhattan for Met Gala
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The entertainment world hits the red carpet Monday for the annual Met Gala, New York's party of the year that hosts a parade of superstars donning their most extravagant looks. Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth will join Vogue Editor-in-Chief Anna Wintour to host the so-called Oscars of the East Coast, which is a mammoth...
Tod's to be delisted after successful takeover bid by fund associated with LVMH
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Milan - The friendly takeover bid for Tod's launched by L Catterton, an investment fund associated with LVMH, has exceeded the threshold of 90 percent of the capital, which will allow the Italian luxury shoe maker to be delisted from the Milan Stock Exchange, according to results published on Friday. "Tod's shares will be automatically withdrawn...
Luxury brands lure Chinese shoppers despite slowdown
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Sipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty -- a lavish affair designed to win customers in China's crucial market. China is the world's biggest spender in the luxury sector, accounting for half of global sales. But as its post-pandemic recovery falters,...
Spanish fashion and beauty brand Puig poised for IPO
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The iconic Nina Ricci, Paco Rabanne and Jean-Paul Gaultier labels make their market debut Friday as Spanish fashion and beauty group Puig begins trading on the Madrid stock exchange. For the family-owned Puig Group, which has expanded rapidly into luxury goods, going public is a big step which will allow it to compete with the giants of the...