Articles by AFP
SMCP shareholder dispute resolved: 15.5 percent stake returned after legal battle
Paris, August 11, 2025 – The textile group SMCP (Sandro, Maje, Claudie Pierlot and De Fursac) can finally breathe a sigh of relief. The 15.5 percent of its capital illegally transferred in 2021 to a company based in the British Virgin Islands by its defaulting Chinese shareholder has been returned to the Luxembourg holding company that owned it....
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Mexico seeks compensation from Adidas in cultural appropriation row
Mexico's government said Friday it was seeking compensation from Adidas, which is accused of cultural appropriation for bringing out sandals resembling traditional design from the southern state of Oaxaca. The Oaxaca Slip-On sandals were created by US fashion designer Willy Chavarria, who has Mexican heritage, but drew pushback from officials in...
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Mexican authorities accuse Adidas of cultural appropriation
Officials in the southern Mexico state of Oaxaca accused sportswear giant Adidas of cultural appropriation after the fashion brand debuted sandals similar to a traditional design from the region. The Oaxaca Slip-On sandals were created by American fashion designer Willy Chavarria, who has Mexican heritage, but drew pushback from both state and...
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Claire's files for bankruptcy in the US and several other countries
Fashion jewellery group Claire's placed its US operations and several of its subsidiaries operating stores as part of the Claire's and Icing brands under Chapter 11 bankruptcy protection on July 28, 2025. In a statement, Claire's said that bankruptcy proceedings would also be initiated in Canada. The company did not provide a specific timeline....
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Princesse tam tam and Comptoir des Cotonniers stores attract buyers
Several potential buyers have shown interest in acquiring a portion of the stores and employees of Princesse tam tam and Comptoir des Cotonniers, though none of the offers include the brands themselves. Both brands, which belong to the Japanese retail giant Fast Retailing, were recently placed in administration. The offers were initially...
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Zara criticised in the UK for excessively thin models
The UK advertising regulator, the Advertising Standards Authority (ASA), has ordered the Spanish clothing brand Zara to remove two images from its website for featuring models of "unhealthy thinness." The ruling, published on Wednesday, stipulates that the photos "must no longer appear in the form that was the subject of the complaint" and...
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Italy fines fast-fashion giant Shein for 'green' claims
Italy's competition watchdog said Monday it has fined the company responsible for Shein's websites in Europe one million euros (1.15 million US dollars) for false and confusing claims about the e-commerce giant's efforts to be environmentally "green". The AGCM watchdog accuses the China-founded fast-fashion colossal of having "adopted a...
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The 'Prato system': corruption and illegal labour at the heart of the Italian textile industry
The fatal shooting of Zhang Dayong in Rome, who was found with six bullet wounds, initially seemed unconnected to Prato, Italy's textile hub. However, investigators now believe the murder is part of a brutal "hanger war" between rival Chinese mafia groups for control of Europe's largest garment manufacturing centre. This criminal escalation is...
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Swiss inflation rises to 0.2 percent in July
Swiss inflation rose again in July, reaching 0.2 percent year-on-year. This follows a dip into negative territory in May, which fuelled deflation fears, the Swiss Federal Statistical Office (SFSO) reported on Monday. In June, inflation had already climbed back to 0.1 percent year-on-year. It continued to strengthen in July, driven by a 0.7...
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Kering to offer Luca de Meo 20 million euro welcome bonus
Struggling luxury group Kering will offer a "welcome bonus" of 20 million euros to its new managing director, Luca de Meo, at the company's general meeting in September, which is to approve his appointment. Kering officially announced in mid-June the arrival of de Meo, aged 58, to the newly created position of managing director. The current CEO,...
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