France
French parliament reduces VAT on shoe and leather goods repairs
France’s lower house of parliament has approved a tax break for repairers by reducing the VAT rate from 20% to 5.5% on the repair of shoes and leather goods
Hermès maintains momentum with strong third quarter growth
The French-based luxury group delivered a 14% revenue increase in the first nine months of the year. Japan and Europe, excluding France, experienced the highest regional sales growth
Kering issues third profit warning of the year
The owner of Gucci and Yves Saint Laurent has issued a third profit warning amid a downturn in the luxury market and after posting a “larger-than-expected” slowdown in the third quarter
Decathlon’s investment arm to bring sustainable fashion innovation technology to Europe
Decathlon Pulse has partnered with unspun to expand the use of 3D weaving technology across Europe, with a focus on reducing waste and promoting sustainable, locally-produced fashion with minimal inventory
LVMH reports drop in third quarter revenue
The luxury group has reported a 3% decline in organic revenue in the third quarter of the year, as compared to the same period of last year, including a 5% year-on-year decline in its fashion and leather goods division
Kering promotes Stefano Cantino to CEO of Gucci
The French luxury group has announced that Stefano Cantino, who joined Gucci in May 2024 as Deputy CEO, has been promoted to CEO of the brand. He will succeed Jean-François Palus
Creative leadership change at LVMH-backed Celine
After seven years as creative director of Céline, Hedi Slimane has left the brand, marking the latest high-profile departure from a fashion label. LVMH has already named Michael Rider as Slimane's successor
France Retail: still a blurred picture for footwear retail
French footwear retailers seem to be at a crossroads trying to figure out what will happen next. Prices are flat, sales are slow, consumer confidence is in general volatile, and stocks are building up (leading to a fall in imports). There was, however, a small improvement in consumer confidence in August, in line with the downward trend in inflation, suggesting that a much-needed relief may be reaching French households. Still, this may not be enough to boost retail sales this year as political uncertainty continues to cloud the horizon
New EMEA sales director at Veja
The French sustainable sneaker brand has appointed Anthony Bunn as sales director for Europe, the Middle East and Africa (EMEA). He replaces Artaud Frenoy, who became sales director for Asia
Hermès continues to grow
Amid a general slowdown in the luxury sector, the French-based luxury group stood out by reporting a strong first half in 2023, with both sales and profits up
Nike creates an immersive experience for the Olympic Games at Centre Pompidou
The US-based sportswear giant has teamed up with the Centre Pompidou, one of the historic landmarks of Paris, to celebrate the unending story of Nike Air innovation during the Olympic Games
Kering profits plunge in the first half
Amidst a general slowdown in demand for luxury goods and with Gucci struggling badly, Kering has seen its first half net profit halved as compared to the same period last year
LVMH posts a 14% drop in net profit
The French-based luxury conglomerate has posted a 14% year-on-year fall in first half net profit amid an uncertain macroeconomic environment. Fashion & Leather Goods division hit by currency fluctuations
Decathlon launches new subsidiary to expand its presence around the world
The French-based sporting goods retailer has launched Decathlon Pulse, a fully-owned subsidiary focused on expanding its global presence and driving additional long-term growth
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-
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