Couture Week Comes to Paris amid Riot Fears

From Schiaparelli's show in July 2022. JULIEN DE ROSA / AFP/File
From Schiaparelli's show in July 2022. JULIEN DE ROSA / AFP/File
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Couture Week Comes to Paris amid Riot Fears

From Schiaparelli's show in July 2022. JULIEN DE ROSA / AFP/File
From Schiaparelli's show in July 2022. JULIEN DE ROSA / AFP/File

The fashion world is on edge as haute couture week kicks off on Monday in Paris, which has seen nights of violent riots over the police killing of a teenager.
French label Celine canceled its menswear show -- scheduled outside the official calendar -- on Sunday due to the riots, with designer Hedi Slimane saying it was "inconsiderate" to hold a fashion show when Paris was "bereaved and bruised".
Hundreds have been arrested across the country as mostly young protesters have torched cars and attacked infrastructure following the death of 17-year-old Nahel M., who was shot dead when he tried to flee a traffic stop on Tuesday.
Violence appeared to be ebbing somewhat in and around the French capital over the weekend, and the haute couture shows -- celebrating the most expensive, tailor-made end of fashion -- were due to go ahead as planned, the French fashion federation told AFP on Sunday.
First up is Schiaparelli, with fashionistas wondering if it can beat the social media meltdown caused by last season's fake animal heads.
The heads, sported by the likes of Kylie Jenner, were another publicity coup for Schiaparelli artistic director Daniel Roseberry, who has overseen a revamp of the brand and attracted the likes of Lady Gaga and Beyonce as clients.
Animal activists seemed unsure what to think.
The US branch of PETA (People for the Ethical Treatment of Animals) called the heads "fabulously innovative", while PETA's French branch said a thought should be spared for the silkworms and sheep "who have really suffered".
Couture week will see first-time appearances by the United States' Thom Browne and France's Charles de Vilmorin alongside regulars like Christian Dior.
De Vilmorin, just 26, will present for his own brand after a short-lived tenure as artistic director of Rochas.
"I'm super happy to have lived through all this and to do my first show," he told AFP in his apartment-workshop last week while finalizing the collection.
Fellow couturier Stephane Rolland is presenting his latest collection, dedicated to legendary singer Maria Callas, at the Opera Garnier.
It will be filmed by veteran French director Claude Lelouch for his next movie.
Rolland said it was vital to merge fashion and other art forms.
"It's very important in our profession. I find that from time to time it lacks a bit of refinement. Money is not everything," he told AFP.



Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
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Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)

Birkenstock beat market expectations for fourth-quarter results on robust demand for its pricey footwear and forecast a recovery in margins in fiscal 2025, sending the company's shares up 7% on Wednesday.

With fresh styles becoming a priority for consumers, Birkenstock's sandals and closed-toe clogs have drawn new customers both at its own stores and at retailers.

The company bypassed steep discounting trends evident during the holiday shopping season, which Birkenstock executives said was off to a strong start globally.

"The expansion of ranges into more closed-toe silhouette has helped boost revenue, given that they offer multi-season wear," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said.

Germany-based Birkenstock's average selling prices across its product range were up 8% in fiscal 2024, in part due to higher sales of clogs, the company said, adding that closed-toe styles now made up about a third of its business.

The company has invested in expanding its global store presence and increasing manufacturing capacity this year to meet demand.

While it led to a 330-basis point drop in gross margins in fiscal 2024, Birkenstock forecast a recovery in margins in fiscal 2025 as it ramps up production from new facilities.

The company reported fourth-quarter revenue of 455.8 million euros ($478.27 million), compared with the average analyst estimate of 439.2 million euros, according to data compiled by LSEG.

However, Birkenstock's forecast for fiscal 2025 revenue to increase between 15% and 17% was below estimates of 17.5% growth.

"It would appear with this incredibly healthy growth, the company is choosing to adopt a conservative approach that they expect to be able to meet and beat," BMO Capital Markets analyst Simeon Siegel said.

On an adjusted basis, Birkenstock earned 0.29 euro per share, beating estimates of 0.26 euro.