France
Hermès reports strong first quarter
The luxury group reported a first quarter sales growth of 17% at constant exchange, as compared to the same period of last year, “with solid activity in all geographical areas”
Kering expects H1 recurring operating income to decline by 40-45%
The French-based luxury giant expects its first half operating profit to plummet by 40% to 45%, after reporting a 10% year-over-year fall in sales, largely due to the weak performance of Gucci
Slow start to 2024 for LVMH
Amid a slowdown in demand for luxury and a challenging geopolitical and economic environment, the French-based luxury group has reported a 3% rise in revenue in the first quarter of 2024
Strong year 2023 for Decathlon
The French group reported a “robust economic performance” in 2023, saying it had “laid a strong foundation for the future” under its new ‘Move People Through the Wonders of Sport’ strategy
CTC appoints new President
The French Leather, Footwear, Leather Goods and Gloves sector research centre has elected Arnaud Haefelin to the role of President. He took over from Patrice Mignon at the end of March
France on course to penalise fast fashion
In mid-March, France’s lower parliament approved a bill imposing penalties on ultra-fast fashion products to help offset their environmental impact. The law has now been sent to the Senate
Toni Belloni to step down as LVMH Group’s Managing Director
After more than 23 years at Arnault’s side, Belloni will step step down as Group Managing Director and Chairman of the Executive Committee of the LVMH Group, effective from the 18th of April
Kering warns of a 20% slump in Gucci sales for the first quarter
The French-based luxury group has issued a preliminary statement for the first quarter, warning of a 10% drop in sales, led by its star house Gucci
Arche goes into administration
The French footwear manufacturer has gone into administration due to a complex situation in the domestic and international markets. While the process runs its course, the company will continue to operate
Hermès posts full year revenue growth
The French-based luxury group reported “an outstanding performance” across all regions in 2023, with total revenue up by 21% year-on-year at constant exchange rates to 13.42 billion euros
Kering’s revenue declines after trying 2023
The French-based luxury group has reported a 4% year-on-year decline in revenue in 2023, driven by weak performances of all its main Houses. Fourth quarter also disappointed
LVMH names new Chairman and CEO of Fashion Group
The French-based luxury conglomerate has named Michael Burke as Chairman and CEO of LVMH Fashion Group. He succeeds Sidney Toledano, who was appointed Advisor to Bernard Arnault
LVMH reports another strong year
The French-based luxury conglomerate highlighted a “remarkable performance” from its Fashion & Leather Goods business group, with organic revenue growth of 13% year-on-year in 2023
Minelli finds a new set of owners
The French footwear retailer avoids liquidation by being taken over by three investors. Only a third of the workforce and less than half of the stores will be retained
France Retail: with no crystal ball and eyes wide shut
Despite the slowdown in inflation in recent months and the slight improvement in consumer confidence, footwear retail remains on a downward trend. There is some hope for an upturn in the retail environment in the first half of 2024, but the available data on imports at the moment does not allow us to look ahead with sufficient clarity. Meanwhile, the online second-hand market shows signs of becoming increasingly relevant in France-
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