Zara Owner Inditex Reports Strong Start to Winter Sales

FILE PHOTO: A person walks by a Zara store in Plaza de Espana in Madrid, Spain, June 11, 2025. REUTERS/Ana Beltran/File Photo
FILE PHOTO: A person walks by a Zara store in Plaza de Espana in Madrid, Spain, June 11, 2025. REUTERS/Ana Beltran/File Photo
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Zara Owner Inditex Reports Strong Start to Winter Sales

FILE PHOTO: A person walks by a Zara store in Plaza de Espana in Madrid, Spain, June 11, 2025. REUTERS/Ana Beltran/File Photo
FILE PHOTO: A person walks by a Zara store in Plaza de Espana in Madrid, Spain, June 11, 2025. REUTERS/Ana Beltran/File Photo

Zara owner Inditex said sales grew 10.6% in constant currency over the start of its fourth quarter, beating analysts' expectations for the November period that includes the crucial Black Friday sales.

The $178 billion fast fashion giant also reported on Wednesday sales of 9.8 billion euros ($11.41 billion) for its third quarter ending October 31, higher than the 9.69 billion euros expected by analysts according to an LSEG estimate.

The results from Inditex, seen as a bellwether for the global fast fashion sector, provide a first glimpse into how successful the key Black Friday sales weekend was for retailers.

The strong sales growth in the period from November 1 to December 1 compared to a year ago marked an acceleration from the nine-month currency-adjusted growth rate of 6.2%, an encouraging sign for the fourth quarter, its biggest in terms of revenues.



Cartier-Owner Richemont’s Jewellery Sales Boom Boosts Q1 Sales

The Cartier store in New York City, US July 7, 2026. (Reuters)
The Cartier store in New York City, US July 7, 2026. (Reuters)
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Cartier-Owner Richemont’s Jewellery Sales Boom Boosts Q1 Sales

The Cartier store in New York City, US July 7, 2026. (Reuters)
The Cartier store in New York City, US July 7, 2026. (Reuters)

Cartier jewellery owner Richemont reported better-than expected results for its first quarter on Wednesday, helped by booming growth in Asia and the Americas.

The company, which also owns Swiss watch brands Piaget and IWC, said its sales rose ‌by 20% ‌when measured in ‌constant currencies ⁠to €6.33 billion ($7.24 billion) ⁠in the three months to the end of June.

The figure beat analyst forecasts for €5.90 billion in a consensus compiled by Visible Alpha.

The growth was driven ⁠by the company's jewellery ‌business, which also ‌includes Van Cleef & Arpels, Buccellati and ‌Vhernier, where sales rose by 24%, ‌much better than the 11.5% rate expected by analysts.

Specialist watchmakers also increased their sales by 8% during the ‌period.

Regionally, Richemont continued to show strong growth in ⁠the Americas ⁠and Asia regions during the April to June period.

Sales in the Americas region increased by 27% up from the 18% growth rate in the previous three months, while the Asia/Pacific sales - which include China - increased by 21% compared with a growth rate of 14% previously.


Olivier Rousteing New Artistic Director at Paco Rabanne

Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)
Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)
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Olivier Rousteing New Artistic Director at Paco Rabanne

Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)
Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)

French designer Olivier Rousteing has been appointed creative director of Paco Rabanne, the Spanish luxury fashion house announced Tuesday.

"Rabanne is delighted to welcome Olivier Rousteing as the house's new creative director. His first collection will be presented in March 2027," the brand said in a post on Instagram.

Rousteing made his own social media pronouncement, showing a screenshot of messages exchanged with his mother, in which he confirmed his appointment, accompanied by the comment in English: "Let the journey begin".

"Joining Rabanne is a tremendous honor. This is a house that has always challenged convention, transforming bold ideas into creations that have shaped fashion history."

Rousteing saluted "the remarkable creative legacy" which he said predecessor Julien Dossena was leaving behind.

"For me, fashion is about emotion, identity, and the confidence to express who we truly are. That belief feels deeply connected to Paco Rabanne and his enduring vision of freedom and individuality," said Rousteing.

Dossena stepped down as Rabanne's creative director in June after 13 years at the helm.

Rousteing, who had been in charge of Balmain's collections for nearly 15 years, left the French brand in November 2025.

In recent weeks, he had posted social media messages indicating that he had been taking care of his health in recent months and now felt ready for a new challenge.

Known for his glamour and pop designs, he has some 10 million followers on Instagram and has sought to make luxury fashion more accessible to young fans.

In 2015, he notably designed a collection for a collaboration between Balmain and H&M. In 2022, Jean-Paul Gaultier entrusted him with the creative direction of one of his collections.

In May, he designed the dress which singer Beyonce wore for the Met Gala in New York.


Watches of Switzerland Sees Robust US Demand, Signs of UK Recovery

Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)
Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)
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Watches of Switzerland Sees Robust US Demand, Signs of UK Recovery

Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)
Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)

Luxury retailer Watches of Switzerland said on Tuesday that strong US demand had carried into its new financial year, while the UK market showed encouraging signs of improvement, after annual sales and ‌profit exceeded expectations. 

The ‌seller of Rolex and TAG Heuer ‌watches ⁠has benefited from affluent ⁠US consumers snapping up luxury timepieces amid a stock market boom. Its limited direct exposure to the Middle East and tourist shoppers also helped shield it from a slowdown in travel spending. 

Reuters reported on Monday, citing people familiar with the matter, that the company ⁠had held talks with potential bidders, as ‌it believes the stock ‌market undervalues the company despite its performance. 

Shares in Watches of ‌Switzerland were marginally lower on Tuesday after having risen ‌to their highest level since July 2023 on Monday following the report. 

Watches of Switzerland reported adjusted operating profit of £155 million ($207 million) on sales of £1.83 billion for the year ‌ended May 3, 2026, above company-compiled analyst expectations of £148.4 million in profit on revenue ⁠of £1.78 billion. 

The ⁠retailer, which operates in the United States, Britain and Europe, said that the US offered significant potential for further growth and market share gains after the region posted 24% sales growth and accounted for more than 50% of total group revenue. 

The company stuck to its outlook for fiscal year 2027 and said that it plans to focus on showrooms investments and selective acquisitions in the US in the mid-term, as brands increasingly consolidate towards fewer, higher-quality stores.