Articles by AFP
Rivalry between Adidas and Puma to be adapted in US series
The rivalry between sports brands Adidas and Puma, which were founded by two brothers in a small Bavarian town, is being adapted into a television series thanks to family archives, the producers announced on Sunday. The series brings one of the most fascinating family conflicts in business history to the screen: Adolf “Adi” Dassler, founder of...
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China's Alibaba says annual revenue up six percent year-on-year
Internet giant Alibaba posted on Thursday a six percent increase in annual revenue, the latest positive sign for China's tech sector despite persisting economic uncertainties. The firm's revenue during the fiscal year ended March 31 totalled 996.3 billion yuan (138.2 billion dollars), according to results posted to the Hong Kong Stock Exchange,...
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Footwear brand Clergerie taken over in last-ditch rescue, employees in limbo
Lyon - French luxury footwear brand Clergerie, which was liquidated at the beginning of April, was finally taken over by Spanish company Petrel 92 SL. However, the fate of its 50 or so employees remains uncertain to their great dismay, a representative of the employees told AFP on Wednesday. The buyer came forward shortly after the liquidation...
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Dior reports theft of non-‘financial’ customer data in cyberattack
Paris – Luxury brand Dior, owned by the LVMH group, was the victim of a cyberattack by someone “unauthorised” who accessed “some data” but not “financial information”, according to a company statement sent to AFP this Wednesday. “La Maison Dior recently discovered that an unauthorised third party had accessed certain customer data that we hold....
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Burberry warns 1,700 jobs at risk after annual loss
British luxury fashion label Burberry said Wednesday it could shed almost one-fifth of its global workforce over two years to reduce costs as it fell into an annual net loss. The troubled group is undergoing a turnaround plan to help boost sales and cut costs as the global luxury sector struggles with weak consumer demand, notably from China....
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Takeover of Le Coq Sportif: offer submitted by several investors
Paris - A consortium including several investors, such as Xavier Niel, and the American group Iconix (Lee Cooper, Umbro) submitted an offer of 60 million euros to take over the sports equipment company Le Coq Sportif, which was placed in receivership at the end of November, according to a statement on Wednesday. Le Coq Sportif, a supplier for...
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Etam: employees rally against site closure threatening 55 jobs
Approximately 30 employees from a subsidiary of the Etam group, travelling by bus from the north, protested on Tuesday in front of the lingerie brand's headquarters in Clichy (Hauts-de-Seine) against the closure of their site, which threatened 55 jobs. Beneath the windows of the Etam group's headquarters (Etam, Undiz, Maison 123, Livy, Ysé), the...
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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...
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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...
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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...
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