To make sure you have all the cards in hand, FashionUnited has put together a catch-up session. A look back at the most notable fashion and business news from last week.
2023, “difficult year” for Kering which saw its profit and sales decline
The luxury group Kering, which for several months has been reorganizing around its flagship brand Gucci, announced on Thursday a net profit down 17% and sales down 4% in 2023, described as a “difficult year” by its CEO François-Henri Pinault. Continue reading.
Veja develops its production in Europe
Nearly 20 years after its launch, the company wants to go further and is considering production in Europe. It is in Portugal that this project came to life in 2023. Named “Aegean Project”, this production sector based in Europe is set to develop in the years to come. Since its launch, more than 80,000 pairs of the V-90 model have been produced in Portugal. Continue reading.
Hermès announces new records in 2023, its shares climb
The luxury group Hermès announced new records on Friday and above analysts’ estimates for 2023, with an increase in its annual net profit of 28% to 4.3 billion euros in 2023. Continue reading.
The National Clothing Federation announces measures to support the sector
The clothing sector is doing poorly and is looking for solutions to radically change this situation. Aware of the problem that undermines the industry, the National Clothing Federation (FNH) is proposing 20 measures aimed at supporting the sector. Continue reading.
Ready-to-wear: IKKS plans to reduce staff and number of stores
2023 results rather in line with forecasts. For the equipment manufacturer Puma, the year 2023 was relatively satisfactory, despite the impact of the devaluation of the Argentine peso on its sales. In December 2023, the Argentine peso loses 54% of its value. If this devaluation initially impacts the Argentine population, the equipment manufacturer Puma also found itself affected by the situation. Continue reading.
Shoe manufacturer Arche placed in receivership
Arche, a French manufacturer of high-end shoes, which employs some 110 people in Château-Renault (Indre-et-Loire), has been placed in receivership at the request of its management, we learned on Wednesday from the ‘business. Continue reading.
Idkids presents its 2023 HR report
French brand of ready-to-wear and children’s toys, Idkids continues its development and is counting on a solid team, which it continues to strengthen. At the start of the year, the company takes stock of its human resources. Continue reading.
Besson Chaussures launches into ready-to-wear
Besson Chaussures, specialist in shoe distribution, diversifies its activities and launches into ready-to-wear. An offer already available in around thirty stores across France. Continue reading.
L’Oréal to develop Miu Miu beauty products
French cosmetics giant L’Oréal announced on Friday that it had signed a licensing contract with Italian luxury group Prada for “the creation, development and distribution of luxury beauty products” from the Miu Miu brand, including perfumes. . Continue reading.
Online commerce: Alibaba will buy back an additional USD 25 billion in shares
Beijing – Chinese e-commerce giant Alibaba announced on Wednesday an increase of 25 billion dollars (23.2 billion euros) in its share buyback program, at the same time as the publication of disappointing quarterly results. Continue reading.