Articles by AFP
Billionaire Bernard Arnault at the heart of a new biography
Paris - From his childhood in the Nord region to his attendance at Donald Trump's second inauguration, Bernard Arnault, head of the world's number one luxury group LVMH, is the subject of a critical biography published on Wednesday. This is the first of its kind in France in over twenty years. In “Bernard Arnault, son univers impitoyable”,...
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Mango announces 45 new stores and the creation of nearly 700 jobs in France by 2028
Spanish clothing brand Mango announced on Tuesday the opening of 45 new stores and the creation of nearly 700 jobs in France by 2028, following a 66 million euro investment promised last week at the Choose France summit. Present in France since 1994, its “first international market”, the company plans to open “15 new stores per year, creating...
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Alibaba in Washington's crosshairs over alleged military ties
Washington - The United States released an updated list on Monday of Chinese companies it considers to be aiding the country's military. The list includes, among others, e-commerce giant Alibaba, search engine provider Baidu and electric vehicle manufacturer BYD. The US Department of Defense announced the designations just weeks before President...
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Gabriela Hearst, sustainable fashion icon, says she discovered "true beauty" in rural Uruguay
Montevideo - Designer Gabriela Hearst cultivated her passion for sustainable luxury during a childhood surrounded by nature, farm animals and starry skies in the remote Uruguayan countryside. She has since taken this concept global, combining natural fibres, artisanal craftsmanship and low environmental impact. Approaching her 50th birthday,...
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Luxury sector seeks solutions amid downturn
Is this the dawn of a new era for luxury? Faced with a marked slowdown over the past three years, the sector is trying to regain momentum by returning to fundamentals, streamlining portfolios and exploring new avenues. Profits are down sharply for LVMH and Kering in 2025, and Burberry reported a net loss for its 2024/2025 financial year. The...
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France fines Shein over 22 million euros for traceability and consumer law violations
France's fraud authority has issued two fines to Shein totalling over 22 million euros (25.56 million dollars), it announced on Wednesday. The authority cited failures related to product traceability, environmental claims, withdrawal periods and delivery times. The institution, which reports to the French Ministry of Finance, has increased the...
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Amazon announces "three new logistics sites" in France
Paris - Amazon plans to invest more than 15 billion euros (17.49 billion dollars) in France over three years. The company announced on Monday "three new logistics sites" intended to create 1,000 permanent jobs. These will be in addition to the more than 7,000 already promised by the company in early May. "Amazon is strengthening its presence...
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Hermès/LVMH shares case: two Swiss lawyers and a notary under investigation in Paris
Two Swiss lawyers and a notary are under investigation in Paris regarding the Hermès shares case. An heir of the French leather goods house claims to have been dispossessed of the shares in favour of LVMH. AFP learned this on Friday from the Paris public prosecutor's office, confirming a report from the daily newspaper Libération. Nicolas Puech,...
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Kering holds its annual general meeting amidst a transformation phase
Luxury group Kering is holding its annual general meeting on Thursday, a few weeks after unveiling its strategic plan, as the slowing luxury market seeks to reinvent itself. Last September, the French giant's last annual general meeting saw the appointment of Luca de Meo as chief executive officer. François-Henri Pinault retained his position as...
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Less luxury, more clicks: savvy Chinese consumers are shopping smarter
Beijing - Jacqueline Li was astonished to learn of the closure of Galeries Lafayette in Beijing. She believes it signals a change in Chinese shopping habits. Since the Covid-19 pandemic, luxury no longer holds the same appeal as it once did. The closure of the iconic French department store this Wednesday occurs against a backdrop of economic...
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