Articles by AFP
Forget China, Chanel exec warns of luxury fatigue risk
loading... - Business
A slowdown in the key Chinese market is currently lashing the financial performance of luxury houses but a Chanel executive warned Monday it faces an even greater risk from oversaturation and "luxury fatigue". Frederic Grangie, head of the watch and jewellery division at Chanel, told the Swiss daily Le Temps that 2025 and 2026 will be...
India's green fashion lovers switch to secondhand
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India's enormous garment sector churns out billions of dollars' worth of new clothes each year, but some local fashion lovers are switching to secondhand to assuage worries about the industry's environmental impact. It is a tiny drop in a massive ocean, but hipster shoppers in the capital New Delhi say their example is slowly shifting the...
US court blocks Coach owner's 8.5 billion dollar buyout of Versace parent
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A US judge on Thursday blocked fashion group Tapestry's 8.5 billion dollar deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. The deal, seen as an attempt to create a new global fashion giant to compete with European powerhouses, was halted by a federal court in New York after...
Courir sells several stores to Snipes due to JD Sports takeover under EU conditions
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The European Commission has approved, subject to conditions, the takeover of French Courir by British sportswear company JD Sports. To address the Commission's competition concerns, the merged company has offered to sell "all Courir stores in Portugal and a number of stores in certain regions of France to Snipes, a direct competitor focused on...
Ex-Abercrombie CEO to face sex assault charges: media
loading... - People
The former chief executive of the Abercrombie and Fitch clothing empire will face charges of sexually assaulting and trafficking male models at events around the world, media reported Tuesday. Ex-CEO Mike Jeffries, his partner Matthew Smith and the pair's alleged go-between were arrested by authorities early Tuesday, the BBC reported....
Amnesty says migrant workers exploited at Carrefour Saudi stores
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Rights group Amnesty International published Monday a report that accused the Saudi Arabian franchise of French supermarket giant Carrefour of exploiting migrant workers. Carrefour told AFP that an internal probe had not confirmed most allegations but was planning on conducting an external review. Amnesty said it found migrant workers for...
France's richest family, Red Bull in exclusive talks for Paris FC takeover
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Paris - The Arnault family, owners of the LVMH luxury goods conglomerate, are in "exclusive negotiations" to buy a controlling stake in French football club Paris FC in a deal that will see energy drinks giant Red Bull secure a minority shareholding. The Agache group, which is controlled by LVMH CEO Bernard Arnault, said in a statement that it...
US retail sales pick up pace in September
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Washington - Retail sales in the United States accelerated in September, according to government data released Thursday, a positive sign for consumption as the election approaches. Overall sales rose 0.4 percent to 714.4 billion dollars (549.8 billion pounds) between August and September, according to Commerce Department data, beating analysts'...
Swiss watch exports to China plunge 50 percent in September
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Zurich - Swiss watch exports suffered their steepest fall this year in September, pulled down by a 50-percent plunge in sales to China, the industry's federation said Thursday. It marks the latest sign of weakening demand in the world's second-largest economy, which has hit Europe's luxury sector. Sales to Hong Kong also fell 34.6 percent during...
Harris stars on Vogue cover as 'candidate for our times'
loading... - People
Washington - US Vice President and Democratic White House hopeful Kamala Harris appeared on the cover of Vogue magazine Friday, with the style bible calling her a "candidate for our times." A cover shot by celebrity photographer Annie Leibovitz captured the 59-year-old in a chocolate-colored suit and a silk blouse, seated in an armchair. A long...