Articles by AFP
Dior CEO Delphine Arnault “very optimistic” for future
Dior's chief executive officer, Delphine Arnault, stated she is “very optimistic” about the future of the luxury house. It is one of the most prestigious brands within the world's number one luxury group, LVMH. She shared her outlook in an interview with La Tribune Dimanche dated October 26. “I am very optimistic about the future,” stated...
BusinessMemberloading...
LA shoemaker holds Hollywood's past in a dying art
In a cobbler's workshop in Los Angeles, the footprints of Hollywood history are stacked floor to ceiling, watched over by a man who says his profession is dying. Yellowing boxes hold the lasts -- foot-shaped molds -- used to create footwear for everyone who was anyone in America's entertainment capital for more than half a century. Elizabeth...
Fashion Memberloading...
Disneyland Paris cancels BHV Christmas project over Shein partnership
Disneyland Paris is cancelling its Christmas project with BHV following the announcement of a partnership between the platform Shein and the Parisian department store. The theme park confirmed the news, originally reported by Le Parisien, to AFP on Thursday. Disneyland Paris is France's most visited theme park. It was scheduled to install a...
Retailloading...
Kering-owned McQueen considers job cuts at its headquarters
Fashion brand Alexander McQueen is “launching a strategic review” amid a wider ongoing turnaround at its parent company Kering. The brand is considering 55 redundancies at its London-based headquarters, Kering confirmed on Thursday, following a report by WWD. These 55 positions represent 20 percent of the headquarters' workforce, Kering...
BusinessMemberloading...
Vendôme: court cancels sale of town's name to Louis Vuitton
The Orléans administrative court has cancelled the 10,000 euro sale of the town of Vendôme's name to the Louis Vuitton group. The municipality, which responded in a statement on Thursday, described the appeal as having “no real legal utility”. In February 2021, the municipality approved by resolution the sale of the town of Vendôme's name to...
Fashion Memberloading...
Kering shares rise after third-quarter sales beat expectations
Shares in the French luxury group Kering rose sharply on the Paris Stock Exchange on Thursday. This followed the release of its third-quarter sales, which, despite a 10 percent decline, surpassed market expectations. The stock was up sharply by 8.12 percent to 332.35 euros at around 9:25 am CET, in a market that rose by 0.27 percent. “Kering has...
BusinessMemberloading...
SMCP achieves marginal Q3 sales growth amid French and Asian challenges
Sales for the ready-to-wear group SMCP, parent company of the Sandro, Maje, Claudie Pierlot and Fursac brands, increased by 0.6 percent year-over-year in the third quarter. The company reached 295.4 million euros, with growth in all geographical areas except for France and Asia. In France, turnover reached 97 million euros in the third quarter,...
BusinessFeaturedMemberloading...
Gucci continues to weigh on results: Kering reports 10 percent revenue decline in Q3
Kering announced a 10 percent revenue decline for the third quarter on Wednesday. This is the first financial release since Luca de Meo took office in September as the new chief executive officer, tasked with getting the luxury group back on track. Revenue fell to 3.4 billion euros, a decline less severe than in previous quarters. However,...
BusinessFeaturedMemberloading...
L'Oréal deal to 'help us lighten the ship and relaunch our fashion brands' - Kering's Luca de Meo
Kering, which has been trying to revive its flagship brand Gucci for years, will present its third-quarter revenue on Wednesday. This is the first financial publication since Luca de Meo's arrival in September as chief executive officer to turn around the luxury group. This publication comes 72 hours after the announcement of the sale of...
BusinessFeaturedMemberloading...
Hermès confirms ambitious growth targets amid economic uncertainty
French luxury group Hermès reported on Wednesday a 5 percent increase in turnover to 3.9 billion euros. The company remains steadfast despite a less favourable environment for the luxury sector in recent quarters. Optimistic outlook The maker of silk scarves and the famous Kelly and Birkin bags remains optimistic about the future. It confirmed...
BusinessFeaturedMemberloading...