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Famed Indian Designer Rohit Bal Dies

Indian designer Rohit Bal (center) gestures at his fashion show in Mumbai in 2019. Sujit Jaiswal / AFP
Indian designer Rohit Bal (center) gestures at his fashion show in Mumbai in 2019. Sujit Jaiswal / AFP
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Famed Indian Designer Rohit Bal Dies

Indian designer Rohit Bal (center) gestures at his fashion show in Mumbai in 2019. Sujit Jaiswal / AFP
Indian designer Rohit Bal (center) gestures at his fashion show in Mumbai in 2019. Sujit Jaiswal / AFP

Rohit Bal, one of India's most acclaimed fashion designers, has died, his colleagues said Friday.
Media reports said he died at the age of 63 after a long illness.
"We mourn the passing of legendary designer Rohit Bal," the Fashion Design Council of India (FDCI) said in a statement on Instagram.
"Known for his unique blend of traditional patterns with modern sensibilities, Bal's work redefined Indian fashion, and inspired generations."
According to his website, Bal graduated from St. Stephen's College in New Delhi with a degree in history.
He then worked in his family's export business for a few years before launching his label and designer line in 1990.
"From the village crafts and traditional methods of design that India is so rich in, to the transient phenomenon of the subcontinent's urban landscape, the designer brings them all to life."
FDCI chairman Sunil Sethi said on Instagram that the passing of Pal, popularly called Gudda, "will leave a void in the fashion design space forever."
"Everyone admired him for his attention to detail, how beautifully his lotus bloomed on modern shapes and his understanding of what modern women desired," Sethi said.

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Fashion

Storied Paris Department Store Seeks Bankruptcy Protection

(FILES) This photograph shows the BHV store (Bazar de l'Hotel de Ville) in Paris on October 5, 2025. (Photo by JOEL SAGET / AFP)
(FILES) This photograph shows the BHV store (Bazar de l'Hotel de Ville) in Paris on October 5, 2025. (Photo by JOEL SAGET / AFP)
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Storied Paris Department Store Seeks Bankruptcy Protection

(FILES) This photograph shows the BHV store (Bazar de l'Hotel de Ville) in Paris on October 5, 2025. (Photo by JOEL SAGET / AFP)
(FILES) This photograph shows the BHV store (Bazar de l'Hotel de Ville) in Paris on October 5, 2025. (Photo by JOEL SAGET / AFP)

Paris department store BHV Marais, which courted controversy last year with a partnership with Asian fast-fashion giant Shein, said Tuesday it had sought bankruptcy protection to protect its operations and jobs.

The bankruptcy procedure "is part of BHV's relaunch, not its failure," the company said, adding that the landmark store opposite Paris City Hall that employs 700 people will remain open.

The store's previous owner already had problems with brand-name boutiques it hosted over payment delays before it sparked controversy last year by announcing that BHV Marais would host Shein's first physical permanent store.

The announcement struck a raw nerve in a French public concerned about the disappearance of local jobs amid a flood of Asian imports, and triggered the departure of a number of brands.

The owner finally sold the business to a number of its managers in June, who promptly parted ways with Shein.

The new owners said that as part of that deal the ownership of part of the building was transferred, but they had yet to receive the funds, which adversely impacted their plans to revamp the business.

The owner of the building, the Canadian asset manager Brookfield, rejected that assertion, saying it does not have any outstanding sums due to BHV Marais.

French labor inspectors believe that BHV Marais has not been making payments, which its management has denied.

Fashion

L’Oreal Shares Bounce on Third-Quarter Sales

A L'Oreal sign is displayed at the beauty products section of a department store inside a shopping mall in Beijing, China June 10, 2025. (Reuters)
A L'Oreal sign is displayed at the beauty products section of a department store inside a shopping mall in Beijing, China June 10, 2025. (Reuters)
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L’Oreal Shares Bounce on Third-Quarter Sales

A L'Oreal sign is displayed at the beauty products section of a department store inside a shopping mall in Beijing, China June 10, 2025. (Reuters)
A L'Oreal sign is displayed at the beauty products section of a department store inside a shopping mall in Beijing, China June 10, 2025. (Reuters)

Shares in L'Oreal rose 4% on Friday, hitting their highest in more than two years, after the French cosmetics giant reported third-quarter sales well ahead of expectations on strong demand for premium products in China and elsewhere.

Sales from July ‌to September rose ‌7.7% on an adjusted like-for-like basis ‌to €11.56 ⁠billion ($12.95 billion), topping a ⁠consensus analyst forecast of 5.9% growth in a Visible Alpha poll, L'Oreal said late on Thursday.

The maker of Lancome creams and Prada perfumes beat estimates for growth in all regions apart from Latin America, with North Asia, which is ⁠predominantly China, significantly ahead. All of its ‌divisions apart from ‌its mass market unit exceeded expectations.

"L'Oreal, once again, beat a ‌high bar," Barclays analysts said in a note.

Analysts ‌at Jefferies called the report "an impressively strong update", highlighting a "momentum shift in China and Europe" that lifted the growth rate in its Luxe division.

The group generates ‌a third of its revenue from its luxury division, but in China that ⁠business ⁠accounts for about two thirds of its sales in the market, positioning it well for a pick-up in Chinese demand. L'Oreal says it is growing three times faster than the market in China.

Shares were up 4.4% at €431.2 ($482.60) by 0917 GMT, the highest since June 2024. The shares are up by more than 17% this year.

"We see scope for the shares to test €450 as investors increasingly recognize the durability of its superior growth profile," the Barclays analysts added.

Fashion

Gucci Owner Kering Drops 12% as Luxury Braces for Tough Winter

The logo of French luxury group Kering is pictured on the day of the Kering General Assembly meeting at the company's headquarters in Paris, France, May 28. (Reuters)
The logo of French luxury group Kering is pictured on the day of the Kering General Assembly meeting at the company's headquarters in Paris, France, May 28. (Reuters)
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Gucci Owner Kering Drops 12% as Luxury Braces for Tough Winter

The logo of French luxury group Kering is pictured on the day of the Kering General Assembly meeting at the company's headquarters in Paris, France, May 28. (Reuters)
The logo of French luxury group Kering is pictured on the day of the Kering General Assembly meeting at the company's headquarters in Paris, France, May 28. (Reuters)

Shares in Gucci owner Kering tumbled 12% on Friday after the group reported further sales declines, but said it would stick with CEO Luca de Meo's turnaround plan and accelerate store closures, aiming for 125 by year-end.

The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war ‌in the Middle ‌East, along with China's tax crackdown on ‌the ⁠wealthy, piled further ⁠pressure on the world's biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.

Riots in Paris, leaving Louis Vuitton shop windows smashed and electric-bike bonfires near luxury shopping hub Place Vendome, threw into sharp relief the political risk faced by luxury brands not just abroad but also ⁠at home.

Shares in LVMH and Hermes were ‌also down 1% to 1.5% on ‌Friday, as crude prices hit their highest level since early May, worsening ‌the squeeze on households that has curbed consumers' ability to ‌splurge on handbags and clothes.

Gucci's decline has continued despite de Meo's plan to make the brand's prices more enticing to middle-class consumers and creative director Demna's new collections hitting stores.

"The progress made on ‌improving brand desirability remains in its very early stages," JPMorgan analyst Chiara Battistini said in a ⁠note. Gucci ⁠sales improved in wholesale, but were down 6% overall as fewer shoppers visited its stores.

While Kering struggles to execute a turnaround against a weak economic backdrop, even high-end Hermes is showing signs of slowing, with its ready-to-wear division falling 2% in the third quarter due to weak Chinese demand. Overall, Hermes reported its weakest quarterly sales growth since 2020.

Across the sector, valuations have taken a beating as investors reassess future growth prospects. After a 40% slide in share price since January 1, Hermes' valuation is its lowest since 2014, while LVMH's is at a 10-year low.