France
Hermès posts solid nine-month performance
The France-based luxury group posted a solid performance in the first nine months of the year, driven by sustained momentum in the third quarter, particularly in Europe, the Americas and Asia
Kering reports quarter-on-quarter improvement
The France-based group reported a sequential improvement in its latest quarter, reducing its revenue decline. Gucci also performed slightly better, thanks to stronger momentum in North America and Western Europe
Wales Bonner succeeds Nichanian at the creative helm of Hermès Menswear
Following the announcement of Véronique Nichanian’s departure after 37 years at the luxury group, it was revealed that Grace Wales Bonner would be taking over as Creative Director of Hermès Menswear
Fashion falters as LVMH returns to growth in the third quarter
The France-based luxury group reported 1% year-on-year growth in the third quarter, with improvements across all business segments. However, the fashion & leather goods segment continues to falter
French shoe brand Minelli placed into receivership
Minelli, the French shoe brand that went into receivership in 2023 before being bought the following year, has recently entered a new protection procedure, according to media reports
Shein to open first store in France amid public backlash
The online fast-fashion retailer is set to open its first physical store at the BHV Marais department store in Paris in November, with further openings planned in other cities. However, this decision has prompted a public backlash
Kering appoints Francesca Bellettini as President and CEO of Gucci
The France-based luxury group has appointed Francesca Bellettini as the new president and CEO of Gucci. She has the task of leading a turnaround for the struggling luxury brand
Daphne Wattiez from AKVO: when people, materials and time are valued, the result is more meaningful
We spoke to Daphne Wattiez, the Founder of AKVO. This unisex footwear brand employs artisanal craftsmanship and bio-sourced materials, inspired by the Mediterranean beauty. Among other topics, we talked about the brand’s challenges and her perspective on the industry
Hermès maintains growth trajectory
Building on its performance in the first quarter, the France-based luxury group has reported continued growth in the first half of the year, driven by increased year-on-year sales across all regions
Kering’s revenue and profits tumble in the first half
The parent company of Gucci and Yves Saint Laurent continues to struggle. In the first half of the year, revenue declined by 16% and net profit declined by 46%, as compared to the same period last year
France Retail: something doesn’t add up in the footwear market
There is something amiss in the footwear retail sector in France. Since April, footwear sales have increased and prices have remained stable, supported by one of the lowest inflation rates in the Eurozone. Nevertheless, concerns have been raised about the sluggish state of the economy, with both consumer and retail confidence not only negative, but also on a downward trend. This suggests that footwear imports will most likely continue to decrease, as they did in April. Only time will tell what will happen next
LVMH posts decline in first half revenue and profit
In line with its results in the first quarter of the year, the France-based luxury conglomerate ended the first half with a 4% year-on-year decline in revenue and a 22% decline in net profit
Luca de Meo appointed Chief Executive Officer of Kering
The CEO of the automotive group Renault has been appointed to the role of Chief Executive Officer of the luxury group Kering, marking a change in the company’s governance
French footwear exports decline, while imports remain flat
According to the Alliance France de Cuir, exports of French footwear decreased by 4% year-on-year to 1.32 billion euros in the first quarter, while imports remained flat at 2.09 billion euros
Hermès continues to expand its production capacity
With the opening of a new leather workshop in Normandy, which will ultimately create 260 new jobs for craftsmen, the French luxury group is reaffirming its commitment to expanding its production capacity-
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