Articles by AFP
Switzerland: watch exports fall by 1 percent in March
Swiss watch exports contracted by one percent in March to 2.1 billion Swiss francs, driven down by the US market, according to figures published on Tuesday by the Federation of the Swiss Watch Industry (FH). American market in decline In March, exports to the US, the largest market for Swiss watchmakers, fell by 1.6 percent compared to the same...
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Exploited labour: Loro Piana (LVMH) is no longer under judicial administration
Rome - Italian fashion house Loro Piana, owned by French luxury giant LVMH, announced on Friday the early termination of its judicial administration by the Court of Milan. “Loro Piana acknowledges the early conclusion of the judicial administration proceedings by the Court of Milan, ahead of the originally scheduled 12-month period,” the Italian...
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Marimekko textile design figure, Vuokko Nurmesniemi, dies at 96
Finnish artist and designer Vuokko Nurmesniemi, known for creating several iconic prints that became classics for the Marimekko brand, has died at the age of 96, her niece announced to AFP on Monday. Architect of textile renewal She joined the clothing, textiles and interior design company in 1953 and would lead the house's artistic direction...
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Fashion trend analysis: barrel-leg trousers
Paris (France) - Barrel-leg trousers, also known as "tonneau" in French or "clown" trousers, seemed unlikely to move from the catwalks to the high street with their unique, voluminous cut. However, they have recently taken over everyday fashion for both men and women. "Ready-to-wear has made it a staple that has replaced all the flared jeans of...
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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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Swiss watchmakers say time will tell on effects of Mideast conflict
The Middle East war has plunged Swiss watchmakers into uncertainty, testing the resilience of an iconic national industry already shaken by several crises. Behind the opulent booths at the Watches and Wonders fair in Geneva, the industry's biggest annual showcase, the conflict is on everyone's lips. The war is not the first crisis that...
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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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