France
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
Gucci continues to be a drag on Kering’s performance
The France-based luxury group has reported a weak first quarter. Gucci continues to weigh down on its performance, with revenue down on a reported basis by 24% year-over-year
Jonathan Anderson takes over Dior menswear helm
Jonathan Anderson has been appointed artistic director of Dior's menswear line, the house has confirmed. He succeeds Kim Jones, who stepped down in January
Hermès continues to outperform the sector, but growth slows
The French luxury group continues to outperform the sector, but its growth has slowed in the first quarter, as compared to the prior quarter. US prices to rise from May due to the impact of tariffs
LVMH reports drop in revenue in the first quarter
Amid a disrupted geopolitical and economic environment, the France-based luxury conglomerate has reported a decline in first quarter revenue. Europe was the only region to grow
France Retail: watch out for the snowball effect
Both the footwear and the retail sector as a whole have failed to start the year on a strong footing, according to sales data. Consumers, who seemed to start the year in a more positive mood, took a step back in March and remain pessimistic about the French economy. Import data also suggest that retail confidence is in free fall. All in all, the risk of a snowball effect in the French retail sector cannot be dismissed.
New CEOs at Fendi, Kenzo and Louis Vuitton China
The France-based luxury conglomerate LVMH has appointed Ramon Ros as CEO of Fendi, Charlotte Coupé as CEO of Kenzo and Daniel DiCicco as regional president of Louis Vuitton for mainland China
Global footwear trade in 2024: China exports slow, US and Germany rebound in imports
China remained the top footwear exporter in 2024, with exports increasing in volume but decreasing in value. Meanwhile, Vietnam and Indonesia consolidated their positions with double-digit export growth. On the import side, the US and Germany reversed their import declines in 2023, which suggests a resurgence in global demand
Executive reshuffle at LVMH
Frédéric Arnault has been appointed CEO of Loro Piana. Meanwhile, Damien Bertrand has been appointed deputy CEO of Louis Vuitton and Fendi CEO Pierre-Emmanuel Angeloglou joins Dior as deputy CEO
Demna named new creative director at Gucci
Demna, who has been creative director of Balenciaga since 2015, has been appointed as the new creative lead at Gucci, the Kering Group, parent to both houses, announced-
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