Articles by AFP
Swatch's first-half net profit misses expectations despite sales growth
Swatch Group reported a net profit for the first half that was below expectations on Tuesday. The company hopes for “a significant improvement in profitability in the second half” thanks to an acceleration in sales observed since May. For the period from January to June, the Swiss watchmaker reported a net profit of 16 million Swiss francs. This...
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EU fines AliExpress 550 million euros for selling prohibited products
Brussels - The EU fined the Chinese e-commerce platform AliExpress, a subsidiary of the giant Alibaba, 550 million euros (628.7 million dollars) today. The fine was for allowing the sale of illegal products to European consumers, including dangerous toys and counterfeit clothing. AliExpress was sanctioned for failing to meet its obligations...
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Italy investigates Chanel, Bulgari and other luxury brands for exploitation of Chinese workers
Milan - Italian police searched the headquarters of eleven luxury brands on Thursday, including Chanel, Bulgari and Etro, suspected of using subcontractors who exploited Chinese workers in Italy. The other brands under investigation are Brunello Cucinelli, Moncler, Jacob Cohen Company, Owenscorp Italia, Goyard Italia, F.Vl, Stefano Ricci and...
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China approves Shein's Hong Kong listing application
Fashion titan Shein has won approval from China's market watchdog for its initial public offering application in Hong Kong, the China Securities Regulatory Commission said in a statement on Friday. Shein's plan to sell up to 341.6 million shares and list on the Hong Kong stock exchange is approved, the CSRC said. Plans to list the company in New...
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Czech Republic: 70,000 pairs of shoes destroyed in a fire
A fire in a warehouse in Zlin, Czech Republic, destroyed 70,000 pairs of shoes on Thursday. The warehouse is located on the site of the former Bata shoe manufacturing empire. The company Vasky, which manufactured the shoes, reported its losses at seven million dollars. No one was injured, firefighters confirmed. They added that the fire was...
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French court bans Shein from selling products imitating Lacoste crocodile in EU
Paris - A French court on Thursday provisionally banned the Asian e-commerce giant from selling items on its platform that feature the famous Lacoste crocodile logo. Pending a final ruling, the Paris judicial court “has taken provisional measures throughout the European Union”. The aim is to “prevent infringement of Lacoste’s renowned trademarks...
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Martin Margiela auction reaches 1.39 million euros
Paris - After a career spent scrupulously avoiding being photographed, Belgian fashion star Martin Margiela auctioned off part of his personal archives on Thursday, fetching over one million euros. Fans of the 69-year-old pioneer, who retired in 2009, had the opportunity to acquire items ranging from sketches to one of his signature white work...
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Light and stars: highlights from haute couture week
Paris - Paris haute couture week, which concludes on Thursday, delivered several memorable moments. From a luminous mini-dress to fully reversible pieces and the presence of stars like Bad Bunny and Pedro Pascal, here are five key highlights. Luminous attire Fractal Universe dress, Iris Van Herpen haute couture AW26. Credits: ©...
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Fire at Chinese shoe factory causes "heavy casualties", says President Xi
Beijing - A fire at a shoe factory in China on Thursday resulted in “heavy casualties”, according to President Xi Jinping. Nearly 200 firefighters and rescue workers were mobilised, according to official authorities and media. The fire broke out around midday (4am GMT) at the Huiteng factory in Jinjiang, in the Fujian province (south-east of the...
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Hermès to present its first ever Haute Couture collection in January 2027
Paris - Luxury group Hermès is launching into haute couture and will present its first ever collection in January, AFP learned from the group, confirming a report from WWD. French designer Nadège Vanhée, who has headed the group's womenswear collections since 2014, will be responsible for creating this first collection, the French brand...
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