Rabanne, part of the Puig Group, has announced the appointment of French designer Olivier Rousteing as the brand’s creative director. This marks a new chapter for the man who was at the helm of Balmain for fourteen years.
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Record results for Fast Retailing and Uniqlo, Owned by Japan’s Richest Man
Bolstered by the global growth of the Uniqlo brand, the Japanese group Fast Retailing has posted record results for the first nine months of the year. In France, the CFDT trade union used this announcement as an opportunity to denounce the deterioration in working conditions for employees of the ready-to-wear giant, leading to a wave of strikes across the country.
European Luxury Stocks Plunge on the Stock Market
Renewed tensions between the United States and Iran caused the CAC 40 to fall by 2.18% on Wednesday 8 July, dragging luxury stocks down with it. But beyond the shock of the trading session, it is the market resilience built up over many years that is now showing cracks, and Hermès, which had long been spared, can no longer escape the fallout.
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