France
Kering invests in Lab-Grown Leather Startup
The French-based luxury group participated in a 46 million USD funding round meant to fast-track the commercialization of the Californian-based VitroLabs’ cell-cultivated leather
India and Australia sign bilateral Free Trade Agreement
The Free Trade Agreement, which commits significantly to tariff reductions, will enable India to double merchandise trade to 50 billion US dollars in five years from about 27 US dollars currently
Kering and the French Ministry of Labour join forces for integration
The group and the French Ministry of Labour, Employment and Integration signed a charter for supporting young people, vulnerable individuals and people with disabilities in the job market
Brazilian footwear exports increase in volume and value
According to Abicalçados, the good performance of footwear exports in the first quarter of 2022 was driven by high demand from the US, but also from the Latin-American neighbours
Kering reports solid performance
The French-based luxury group posted solid growth in the first quarter of 2022. However, COVID-19 restrictions in China since March have weighed down on results, especially Gucci’s
Hermès reports strong sales across all segments
The French-based luxury group reached revenue of 2.77 billion euros in the first quarter of 2022, thanks to the acceleration in all the business lines and sustained growth in leather goods
LVMH off to a good start in 2022
The luxury group reported revenue growth in the first quarter of 2022, but remains vigilant due to "the current geopolitical context and the ongoing impact of the pandemic”, especially in China
Dr. Martens names new Global Creative Director
The position will be held by Darren McKoy, known as DMac, who served before as Global Category Product Director. He stated that he will continue honouring the brand’s legacy
Brazilian footwear exports get off on the right foot
According to Abicalçados, footwear exports had the best performance in the first two months of this year since 2011. International conjecture is showing to be favourable for the industry
Hermès to open two new leather goods workshops by 2026
The two workshops, which will employ 500 people, will allow the French luxury house to increase its production capacity while remaining committed to its artisanal culture
France Retail: retailers more confident than consumers amid an uncertain environment
Although footwear retail sales in France have returned to pre-pandemic levels, the beginning of 2022 is being characterized by some uncertainty. Consumers’ mood has become more volatile towards the end of 2021, reaching minus 8 points in January, and rising inflation has not spared the sector. Nonetheless, retailers are proving to be more confident than consumers, displaying some insensitivity towards risks
Hermès posts strong performance in 2021
The French-based luxury group reported an increase in revenue of 42% at constant exchange rates, and 41% at current exchange rates, as compared to 2020, reaching 8.98 billion euros
Volume of Brazilian exports in 2021 above pre-pandemic levels
In 2021, Brazil shipped 123.6 million pairs of shoes, which reflects an increase in volume of 32% and 7.3%, as compared to 2020 and 2019, respectively. Positive trajectory should continue over 2022
LVMH posts revenue above pre-pandemic levels
The luxury group has reported strong growth over 2021, following the disruption of the first half of 2020 resulting from the global pandemic. Revenue for the full year reached 64.2 billion euros-
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