France
Alliance France Cuir appoints new president
Christophe Dehard has been elected as President of the French leather industry confederation Alliance France Cuir for the next three years. He succeeds Frank Boehly
Decathlon UK posts loss as it invests in transformation plan
The UK arm of the French-based retailer posted a 2 million British pounds (2.4m euros) loss in 2023, after investing 10 million British pounds (11.8m euros) in transformation initiatives
France Retail: the ball is in the consumers’ court to boost retail
The first quarter of the year brought some contradictory signs in France, but perhaps all is not lost, especially for footwear retailers. Prices in the category have been rising at a slower pace than general items, becoming more stable every month, which perhaps helps explain the (albeit residual) increase in footwear sales in March. Confidence indicators for both retailers and consumers remain in the red, but the small year-on-year increase in imports at the start of 2024 points to higher demand later in the year. With the European elections in June and the Olympic and Paralympic Games in August, as well as real wage growth, the ball is in consumers’ court to boost retail
LVMH increases its stake in the Spanish tannery Riba Guixà
LVMH’s Métiers d’Art has signed an agreement to increase its stake in Riba Guixà, the Spanish tannery renowned for its expertise in tanning Enterfino lambskin
LVMH extends partnership with Alibaba
The French-based luxury group has extended its partnership with the Alibaba Group for the next five years to enhance its omnichannel strategies and digital presence in China
Sustained positive trend in French leather exports
According to the latest data from Alliance France Cuir (ex-Conseil National du Cuir), French leather exports slowed in 2023, but still showed a slight increase of 6% year-on-year to 18.9 billion euros
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-
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