France
Clergerie future owner is to be chosen this month
After being placed into receivership on the 29th of March, the future owner of the French-based luxury shoe brand will be decided on the 14th of June by a Paris-based commercial court
France Retail: prospects for the clothing and footwear sectors are still far from positive
The stabilization of the pattern of weakening French consumer confidence in the first quarter of the year cannot mask the pessimism that is still being felt in the country, especially in the context of social unrest. Moreover, in this reality of high inflation, neither do price increases hide the contraction in volumes sold nor is it possible to ignore the difficulties faced by companies more exposed to the domestic market due to increased operating costs (rents and energy) or even the stagnation of the online channel. Retail prospects for the clothing and footwear sectors are, therefore, still far from positive
Lemon Jelly opens a pop-up store at Le Bon Marché in Paris
The Portuguese brand, known for its injected, coloured and lemon-scented footwear, can be found at Le Bon Marché Rive Gauche in Paris until the 18th of June in a colourful summer pop-up
Resale platform WeTheNew raises 20 million US dollars
The French-based platform specializing in sneakers and streetwear has closed a 20 million euros round of series B funding. This funding will be used to expand the platform's presence abroad
Kering posts mixed first quarter performance
The French-based luxury group posted a 1% year-over-year marginal revenue growth in the first quarter of 2023, with Gucci slightly recovering from a 14% revenue decline in the fourth quarter of 2022
Decathlon reports full year sales growth
The French-based sporting goods retailer has announced a net sales increase of 12% in 2022, euros as compared to the previous year, reaching 15.4 billion euros
Hermès posts strong first quarter
The French-based luxury group posted a revenue growth of 23% at constant exchange rates and 22% at current exchange rates in the first quarter of 2023, year-over-year, reaching 3.38 billion euros
LVMH announces first quarter results
The luxury group has reported a revenue growth of 17% (also organically) in the first quarter of 2023 to 21.04 billion euros, year-over-year, highlighting the rebound experienced in China
Clémentine Colin-Richard (French Shoe Federation): it is urgent to have harmonisation in sustainability regulations
Today we bring you an interview with Clementine Colin-Richard, President of the French Shoe Federation and administrator of the family SME Richard-Pontvert SA (Paraboot brand). Watch the video and learn about the state of the French footwear industry and the main challenges it is facing
Decathlon launches UK's first rental service
The sporting goods retailer has launched a rental service across all UK stores to allow its customers to stay active, overcoming barriers such as price or even lack of storage
French Clergerie files for receivership
As the relaunch under the new parent company French Legacy Group in 2020 failed to get off the ground due to the long-term effects of the pandemic and war in Ukraine, the luxury shoe brand filed for court protection
Kering sets new GHG emissions reduction target
The French-based luxury group has announced a commitment to reduce its absolute greenhouse gas emissions (GHG) by 40% by 2035, covering scopes 1, 2 and 3 of the GHG protocol
France Retail: inflation will yet impact retail, but there is a light at the end of the tunnel
Figures by the Banque de France suggest that retailers may have felt some relief in December 2022, but the weight of inflation in these results must not be overlooked, with turnover growing quite faster than the production itself. Moreover, the impact of inflation on footwear might yet be to be felt. French consumers tend to purchase the category during sales, but retailers may not be able to make the big discounts that would make consumers shop in a context of still significant inflation due to the need of preserving margins. However, there are signs of light at the end of the tunnel, as retailers’ and consumers’ confidence indicators show that there is room, at least, for the ceasing of confidence deterioration in 2023.
Hermès posts robust full year results
The luxury group posted a sales growth of nearly 30% in 2022 over the prior year, reaching 11.60 million euros. Despite the global uncertainty, the group is approaching 2023 with confidence
Kering fourth quarter sales declined by 7%
The weak performance of Gucci in the last quarter of 2022 (sales down by 15% year-over-year) due to the situation in China impacted Kering’s performance in the quarter. But the group’s full year revenue still grew by 9%-
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