Articles by AFP
In 'an uncertain world', luxury groups wary of 2026
Paris (France) - Following a "turbulent" 2025 and in "an uncertain world", caution is the watchword for 2026 in the luxury sector, where major French groups have published mixed results. "The past year was 'turbulent economically and geopolitically (...) and 2026 will not be very simple either, but one thing at a time'," stated Bernard Arnault,...
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L'Oréal net profit drops 4.4 percent in 2025 due to currency effects and French tax
The French cosmetics giant L'Oréal announced on Thursday a 4.4 percent decrease in its net profit to 6.13 billion euros (7.27 billion dollars). This was penalised by currency effects and the exceptional surcharge imposed on large companies to restore French public finances. “This increasingly less exceptional tax on large companies (...) costs...
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Hermès reports 1.72 percent net profit decrease due to exceptional surtax
French luxury group Hermès announced on Thursday, February 12, 2026, a 1.72 percent decrease in its net profit for 2025, which fell to 4.5 billion euros (5.35 billion dollars). This decline was attributed to an exceptional surtax imposed on large companies by the French government to restore public finances. Excluding this exceptional...
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Geneva opera house selling off thousands of extravagant costumes
Sandra Delpierre's fingers linger on a long blue and white fur coat and graze a pair of angel wings as she winds past thousands of colourful costumes used in opera performances. "There are some real treasures to be found," the head of costume workshops at Geneva's Grand Theatre told AFP. At a time when Bridgerton-style costume parties are all...
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Data fears and tech resentment greet AI wearable's Europe launch
Newly landed in Europe after a stormy reception in America, startup Friend's chatbot-powered, always-listening pendants are stirring concerns over compliance with tough EU data rules as well as anti-AI resentment. Many metro stations in Paris have in recent weeks been plastered with Friend's ads, picturing the round white device with promises...
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The Epstein files: Hermès CEO clarifies 2013 encounter and subsequent rejections
Paris, France - The chief executive officer of French luxury group Hermès, Axel Dumas, stated on Thursday that Jeffrey Epstein had pushed to meet him in 2013. Epstein went as far as inviting himself to a tour of one of the company's workshops in the Paris region. "I had only one contact with Jeffrey Epstein, which was in March 2013 during a...
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Fashion label Jott draws 15 takeover bids following bankruptcy filing
Around 15 potential buyers have submitted takeover bids for Jott, the Marseille-France based apparel brand famous for its colourful, lightweight puffer jackets. The company, whose name stands for "Just Over The Top," was placed into receivership by the Marseille Economic Affairs Tribunal in December. Despite its financial struggles, management...
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France reduces legal demands against Shein in appeal hearing
Paris (France) - In the initial hearing, the French state requested a complete block of the Shein website for selling illicit products. On Thursday, during the appeal, the state demanded the blocking of only the marketplace reserved for third-party sellers on the Asian platform. The Paris Court of Appeal will deliver its decision on March 19. On...
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US firm Blue Water Venture Partners to acquire Jacadi
Paris, France – The international investment firm Blue Water Venture Partners has announced its intention to acquire children's fashion brand Jacadi Paris. The firm is led by New York-based investor Joseph Hernandez. The news was reported by Les Echos on Thursday. In a statement dated Monday, the investment firm announced it has signed a “letter...
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Coty continues strategic review following successful debt reduction
Paris, France - US cosmetics and fragrance group Coty, which appointed a new interim CEO in January, published mixed results on Thursday. The company reported its “lowest debt in nine years” and is continuing its strategic review. In the second quarter of its fiscal year, from October to December, Coty's turnover increased by 1 percent...
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