France
LVMH’s growth slows in the third quarter
The French-based luxury conglomerate posted an organic revenue growth of 9% in the third quarter, as compared to an organic growth of 17% recorded in the previous quarters of 2023
France Retail: the retail boat is sitting on the water waiting for the wind to pick up
After a somewhat mixed performance over the summer, highly impacted by short-lived events such as the postponement of sales due to the riots or August’s heatwave, some signs suggest that retail in France could improve next year. Consumers seem to be less pessimistic about rising prices and their personal financial situation. But it all comes down to the trajectory of inflation, and whether food and energy prices will effectively ease until the end of the year
LVMH's Métiers d’Art acquires Spanish tannery Grupo Verdeveleno
The LVMH subsidiary designed to preserve the group's expertise in luxury raw materials and craftsmanship has acquired the Grupo Verdeveleno, a Spanish tannery specialising in exotic skins
Zara expands its pre-owned platform to France
After a successful rollout in the UK in October 2022, the fashion chain owned by the Spanish-based Inditex group has expanded its second-hand platform in France
France to launch reward scheme to encourage repairs in the fashion industry
From October, French citizens will be able to claim back between 6 and 25 euros of the cost of repairing clothes and shoes under a new scheme launched by the Government to reduce waste in the fashion industry
LVMH: Premium Partner of the Paris 2024 Olympic and Paralympic Games
According to LVMH, this partnership will enable the artisans across the group to contribute their creativity, know-how, and sense of French art de vivre to the organization of the high-level sports competition
French footwear manufacturing turnover grows in 2022
According to the Conseil National du Cuir (CNU), the French footwear industry's turnover rose by 10% last year to 651 million euros, up from 590 million euros in 2021
Hermès delivers a robust first half
The French-based luxury company's sales reached 6.70 billion euros in the first half of 2023, up from 5.48 billion euros in the same period of 2022, driven by strong momentum across regions
Kering buys a 30% stake in Valentino and announces first half results
The owner of Gucci will take a 30% stake in Valentino for 1.7 billion euros, with an option to buy 100% of the Italian brand's capital until 2028. Meanwhile, Kering's first half results disappoint
Strong first half for LVMH
The luxury group posted a 15% revenue growth and a 30% net profit rise in the first half of 2023, as compared to the same period of 2022, driven by a strong performance in Asia and Europe
Gucci CEO Marco Bizzarri to step down
Kering has announced the impending departure of Gucci's CEO as part of a wider executive shakeup that includes the naming of Saint Laurent CEO Francesca Bellettini to lead the group's portfolio of brands
Gabriela Hearst leaves Chloé
The Richemont-owned luxury fashion house has confirmed that its creative director, Gabriela Hearst, will step down later this year. No reference was made to the creative succession plan
Clergerie has found a new owner
Clergerie has been acquired by the California-based footwear company Titan Industries. The French-based luxury shoemaker had been placed into receivership on the 29th of March
Maison Margiela with new CEO
The Paris-based luxury house has appointed Gaetano Sciuto as its new Chief Executive Officer, effective the 17th of July, and Stefano Rosso will be the house’s new Chairman, says WWD
LVMH Métiers d’Art acquires majority stake in Italian tannery Nuti Ivo
LVMH's division aimed at preserving the French-based group's expertise in luxury raw materials and craftsmanship is now a majority partner of the Italian tannery Nuti Ivo SpA Group-
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