Articles by AFP
Victoria Beckham explains parental approach following son's 'control' claims
New York - Victoria Beckham has responded to accusations from her eldest son that she wants to "control" his life and tried to "ruin" his marriage. In an interview with the Wall Street Journal on Thursday, she stated that she and her husband David have always sought to "protect" their children. In a long message posted on social media in...
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Kering CEO details strategy for Gucci's return to growth
Florence, Italy - French luxury group Kering is at a “turning point”, its chief executive officer Luca de Meo said on Thursday. He was presenting the company's new strategic plan in Florence, Italy. To return to growth, the executive highlighted a series of measures, particularly for its flagship brand Gucci, with a “significant” move “upmarket...
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Kering unveils recovery plan, aims to more than double profit margin
French luxury giant Kering has announced a recovery plan as the group continues to struggle. On Thursday, it revealed measures that include more than doubling its operating margin rate in the medium term. The group began a transformation last year under its new chief executive officer, Luca de Meo. It now aims to achieve an operating margin rate...
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Deveaux Group seeks acquisition of children's fashion brand Jacadi
Paris, France - Children's fashion brand Jacadi could come under the control of the Deveaux group. The group has notified the Competition Authority of a proposed merger, the authority confirmed on Wednesday, corroborating a report by the Ouest-France newspaper. Jacadi has been owned by the northern French group IDKIDS since 2005, which has been...
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Gucci looks to reignite the flame in its Italian home
Paris, France - Having transitioned from a fashion icon to a thorn in the side of French luxury group Kering, Gucci must now reinvent itself to avoid further weighing on its parent company's accounts. The luxury giant, which also owns Yves Saint Laurent, Bottega Veneta, Kering Eyewear and Boucheron, will present its strategy to investors on...
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Hermès hit in first quarter by Middle East war and exchange rates
French luxury group Hermès reported on Wednesday that its first-quarter sales fell by 1.4 percent year-over-year to 4.1 billion euros (4.83 billion dollars). The results were impacted by exchange rates and the war in the Middle East. At constant exchange rates, the saddler and leather goods maker's revenue grew by 6 percent, with the adverse...
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Amazon announces construction of a new distribution centre in France, one of Europe's largest
Amazon announced on Tuesday the construction of a distribution centre in the Haut-Rhin region in France. It will be one of the largest in Europe, representing an investment of over 250 million euros and creating 2,000 jobs. The building, located in the municipality of Ensisheim, will have a floor area of approximately 60,000 square metres and a...
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Kering: a crucial week to reassure markets and relaunch Gucci
French luxury leader Kering, held back by difficulties at Gucci, is facing a decisive moment. This week, the group will present its new roadmap during a highly anticipated investor day in Florence. All eyes are on the speech by Italian Luca de Meo, the group's chief executive officer, at the Capital Markets Day on Thursday in Gucci's birthplace....
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Will 2026 mark a return to growth for the struggling luxury market?
Paris, France - After a marked slowdown over the past two to three years, driven by price hikes, a lack of creativity and a downturn in China, the luxury sector hopes to navigate the clouds of geopolitical instability in 2026 to return to growth. Global leader LVMH will be under particular scrutiny, as the group kicks off the reporting season...
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Uruguay's national team to wear Gabriela Hearst designs at the World Cup
Montevideo - The Uruguayan national team will attend the 2026 World Cup in bespoke uniforms crafted from merino wool by designer Gabriela Hearst, one of fashion's ambassadors for sustainable luxury. The Uruguayan Football Association (AUF) announced on its social media the partnership with Hearst, one of the most renowned Latin American...
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