Articles by AFP
Bangladesh factory blaze kills at least 16
At least 16 people were killed Tuesday when a fire tore through a chemical and garments factory in Bangladesh's capital Dhaka, officials said. The blaze began in the factory's warehouse before spreading to a nearby multi-storey garments facility, said Tajul Islam Chowdhury, director at the Fire Service Department. All the bodies were recovered...
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Galeries Lafayette opens first store in India
The historic French department store chain Galeries Lafayette is set to open its first store in the Indian financial hub of Mumbai this November. It aims to attract the growing middle class and affluent consumers interested in luxury goods. The department store will open in a historic district of Mumbai, spanning 8,400 square metres across five...
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EU fines Gucci, Chloé and Loewe millions for violating competition rules
Brussels, Belgium – The European Union announced on Tuesday that it had imposed fines totalling 157 million euros on luxury firms Gucci, Chloé and Loewe for breaching competition rules. The sanctions follow surprise raids conducted in April 2023 and an antitrust investigation by the European Commission in July 2024. The EU's executive arm...
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LVMH quarterly sales drop 4% on currency swings
The world's biggest luxury group LVMH reported Tuesday that its third-quarter revenue dropped four percent to 18.3 billion euros ($21 billion) due to currency movements. Revenue fell from a level of over 19 billion reached in the same period of 2024, the company said in a statement. The measure picked up however in the third quarter of 2025...
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From waste to runway: Kenyan designers transform used clothes into art
In a dusty alley in the heart of Kenya's largest open-air market, fashion models strut down a makeshift runway in bold, upcycled outfits made from waste collected at dumpsites and market cast-offs -- proof that even trash can dazzle. Every year, thousands of tonnes of used clothes from Europe, the United States, and beyond make their way to...
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New Kering CEO charts turnaround plan with customer focus and faster timelines
The new chief executive officer (CEO) of luxury group Kering, Luca de Meo, is set to speak with the group's key managers. This group comprises several hundred executives. They will meet after reviewing a memo outlining several workstreams to revive the group, AFP learned on Wednesday, confirming a report from La Lettre. The meeting will take the...
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French department store operator dropped by investment bank following Shein collab
French department store operator Société des grands magasins (SGM) has seen its deal to acquire the property of the Parisian department store BHV Marais collapse after its new partner, fast fashion giant Shein, caused the withdrawal of a key state-backed investor. SGM, which operates BHV, has condemned what it calls “political pressure” but...
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US tariffs spark concern in India's textile capital
Tiruppur, India - The roar of sewing machines has given way to an unusual quiet in the textile factories of Tiruppur, in southeastern India. Since the tariffs on Indian exports was imposed by Donald Trump at the end of August, most have been operating at a reduced capacity. “US orders are almost at a standstill,” notes a disappointed Ramesh...
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Swiss watch industry should find time for India, says Deloitte
India and Mexico could become new drivers of growth for the Swiss watch industry, which has been clobbered by US tariffs and slumping demand in China, top audit firm Deloitte said Wednesday. The emblematic Swiss industry "is navigating one of the most complex periods in recent memory", the professional services giant said in the 11th Deloitte...
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IKKS enters administration, over 1,000 jobs at risk
Fashion brand IKKS has been placed into administration. This procedure puts over 1,000 jobs at the group at risk, AFP learned on Friday from the Paris Commercial Court, confirming a report from Les Echos. The brand, which had ceased payments and was already facing difficulties a few years ago, secured a debt waiver from its creditors in 2024....
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