Articles by AFP
Wall Street opens with strong gains due to US-China trade truce
Washington – The New York Stock Exchange opened this Monday with pronounced gains after the US and China announced the suspension for 90 days of most of the mutual tariffs, in a de-escalation of the trade war launched by Donald Trump. Around 1.50pm GMT, the Dow Jones was up by 2.47 percent, the Nasdaq index increased by 3.47 percent and the...
BusinessMemberloading...
Fashion labels deepen links to Cannes film festival
Luxury fashion labels are increasingly reaching beyond the red carpets and exclusive parties of the cinema world, becoming partners with filmmakers and production companies. At the Cannes film festival this year, which starts Tuesday, labels will be looking to showcase not only their outfits, but also their credibility as investors. Alongside...
Cultureloading...
Stars shine at Met Gala, showcasing Black dandyism
The brightest stars in Hollywood, music, sports and fashion hit the red carpet Monday for the Met Gala, the extravagant Manhattan fundraiser that this year spotlights the subversive style of Black dandyism. The blockbuster night's theme explores the sharply tailored dandy aesthetic and its rich, complicated history. It also celebrates the...
Fashion loading...
The White House sharply criticises Amazon
The White House on Tuesday slammed Amazon over reports it would soon tell consumers how much US President Donald Trump's tariffs have contributed to the price tag on its goods. "This is a hostile and political act by Amazon," Press Secretary Karoline Leavitt told reporters during a briefing in Washington. "Why didn't Amazon do this when the...
BusinessMemberloading...
SMCP sales increase in first quarter, except in asia
The sales of the ready-to-wear group SMCP, parent company of the brands Sandro, Maje, Claudie Pierlot and Fursac, increased by 3.4 percent year-on-year in the first quarter, to 297 million euros, progressing in all geographical areas except Asia. Isabelle Guichot, chief executive officer of the group, highlighted “a complex and volatile...
BusinessMemberloading...
TikTok exploits trade war to shift fake luxury goods
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. But while these "revelations" are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content...
BusinessMemberloading...
A lingerie brand ‘made in America’ threatened by Trump's tariffs
Los Angeles - After years spent in underground workshops in California, Francisco Tzul managed to get a job with an ethical lingerie brand 'Made in America'. But the garment worker now fears losing his job because of Donald Trump's tariffs. Since his return to power, the new American president has launched a protectionist offensive and triggered...
BusinessFeaturedMemberloading...
Kering: sales down 14 percent in first quarter, weighed down by Gucci
Paris - Luxury group Kering, still weighed down by its flagship brand Gucci, announced on Wednesday a 14 percent drop in sales to 3.88 billion euros in the first quarter of 2025 and is "redoubling its vigilance to overcome macro- economic turbulence". "As we anticipated, Kering faced a difficult start to the year," said its chief executive...
BusinessFeaturedMemberloading...
In response to global demand, Hermès opens 27th leather goods workshop in France
Paris - French luxury group Hermès announced on Tuesday the establishment of a new leather goods workshop in Colombelles (Normandy) “with the creation of 260 artisan jobs, in the long term” to support “the success of its leather goods and saddlery collections”. Hermès, which continues to achieve record results and whose sales jumped by 8.5...
BusinessMemberloading...
Swiss watch exports to US soared ahead of Trump tariffs
Swiss watch exports to the key US market soared nearly 14 percent in March, likely the result of retailers stocking up before US President Donald Trump announced his tariffs on countries worldwide. Analysts have warned that Switzerland's storied watchmaking industry could be among the hardest hit by the 31-percent import levies for Swiss goods...
BusinessMemberloading...