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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)
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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. 

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Fashion

Saint Laurent Goes for Gold in Paris Show That May Be Vaccarello’s Finale

A model wears a creation as part of the Saint Laurent Womenswear Spring Summer 2027 collection presented in Paris, France, Tuesday, Sept. 29, 2026. (AP)
A model wears a creation as part of the Saint Laurent Womenswear Spring Summer 2027 collection presented in Paris, France, Tuesday, Sept. 29, 2026. (AP)
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Saint Laurent Goes for Gold in Paris Show That May Be Vaccarello’s Finale

A model wears a creation as part of the Saint Laurent Womenswear Spring Summer 2027 collection presented in Paris, France, Tuesday, Sept. 29, 2026. (AP)
A model wears a creation as part of the Saint Laurent Womenswear Spring Summer 2027 collection presented in Paris, France, Tuesday, Sept. 29, 2026. (AP)

Saint Laurent creative director Anthony Vaccarello unveiled a head-to-toe gold collection of slinky dresses and textured tailoring at Paris Fashion Week on Tuesday.

The spring/summer 2027 show marked 10 years since Vaccarello's first show for the Parisian label owned by luxury group Kering and came amid reports ‌he was ‌set to step down from ‌the ⁠role.

On a raised ⁠runway under a giant gold chandelier, models strode past wearing gold dresses with raised embroidery, gold brocade skirts and jackets with sharp collars, and gold trench coats.

The Eiffel ⁠Tower also glittered gold ‌in the ‌background of the show staged outdoors at the ‌Trocadero fountain, with front-row guests including ‌Blackpink singer Rosé, model Rosie Huntington-Whitely, and Oscar-winning actors Eddie Redmayne and Rami Malek.

Black gowns with billowing sleeves and ‌long trains were the final looks of the show, and Charlotte ⁠Gainsbourg ⁠performed a song in a classic Saint Laurent black suit before Vaccarello came out to applause from the crowd, smiling and waving.

Vaccarello is credited with expanding Saint Laurent's reach. The brand's revenues were down 6% last year but Kering said in July that it had returned to growth in the first half.

Fashion

Women's Fashion Week Kicks Off in Paris

A model walks the runway during the Giorgio Armani collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 27, 2026. (Photo by Stefano Rellandini / AFP)
A model walks the runway during the Giorgio Armani collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 27, 2026. (Photo by Stefano Rellandini / AFP)
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Women's Fashion Week Kicks Off in Paris

A model walks the runway during the Giorgio Armani collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 27, 2026. (Photo by Stefano Rellandini / AFP)
A model walks the runway during the Giorgio Armani collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 27, 2026. (Photo by Stefano Rellandini / AFP)

Paris Women's Fashion Week opens Monday with a debut show from South African brand MaXhosa Africa and a fresh collection from new-ish Canadian trendsetters Matieres Fecales, look to lift the gloom surrounding the sector.

A total of 67 catwalk shows for 2027 Spring-Summer have been planned for this Fashion Week, with dozens of other brands set to show their designs in private viewings and events around the French capital.

Industry big beasts Christian Dior and Saint Laurent will send their models out on Tuesday.

It could be a last show for Saint Laurent's Belgian designer Anthony Vaccarello, who has been the driving force behind the brand's success for the past decade but is reportedly heading for the exit.

If his departure is confirmed, he is unlikely to be the only creative director heading for the chop as label owners and chief executives look to revive their fortunes in a tough commercial environment for luxury brands.

At Balenciaga, Italian designer Pierpaolo Piccioli is reportedly in the sights of parent company Kering, having failed in the difficult task of maintaining sales levels achieved by his predecessor Demna, according to specialist blog Miss Tweed.

At Chloe, artistic director Chemena Kamali, in the job since 2023, is also being pushed towards the door over a lack of profitability, according to investigative outlet Glitz.

"There were the 'golden years' (for the sector) after Covid, a peak in 2023 and then a luxury market that stabilized," Pascal Morand, executive president of the French Haute Couture and Fashion Federation, told AFP.

"The major groups, mid-sized brands and young designers are not affected in the same way. Markets, outlets and business models are evolving," he said.

Although sales are falling for many brands, there are bright spots.

Since his arrival a year ago at the helm of Chanel, Matthieu Blazy has created a buzz and sales frenzy at the classic French label, with customers queueing outside some boutiques for his latest collections.

His Spring-Summer show takes place next Monday.

Another brand with reason for cheer is MaXhosa Africa, a luxury knitwear group founded in 2010 by textile designer Laduma Ngxokolo, who has already shown collections privately in Paris but has now been invited to join the official program.

On a mission to promote South African culture and the traditions of the Xhosa people, Ngxokolo counts Michelle Obama and Beyonce as fans.

With his first show on Monday, he will be hoping to emulate the success of Matieres Fecales, the Canadian brand which first appeared in March last year but has gone on to dress a host of celebrities and A-listers.

Its unusual name -- which means fecal matter in French -- was chosen to ensure that people who bought the brand's clothing only wanted it for the design, rather than the name on the label.

After events by Julie Kegels, Weinsanto, and Hodakova, the Matieres Fecales show at 7:00pm (1700 GMT) will bring the first day of Paris Fashion Week to a close.

Fashion

Cardi B Brings Star Power as Roberto Cavalli Goes Wild at Milan Fashion Week

A model walks the runway during the Roberto Cavalli collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 24, 2026. (AFP)
A model walks the runway during the Roberto Cavalli collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 24, 2026. (AFP)
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Cardi B Brings Star Power as Roberto Cavalli Goes Wild at Milan Fashion Week

A model walks the runway during the Roberto Cavalli collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 24, 2026. (AFP)
A model walks the runway during the Roberto Cavalli collection show as part of Women's Spring/Summer 2027 Milan's fashion week, on September 24, 2026. (AFP)

Cardi B was thronged by photographers as she arrived at the Roberto Cavalli runway show Thursday, adding star power to Milan Fashion Week.

Looking glamorous in an animal-print coat, dark sunglasses and a blowout, the rapper took her seat next to stylist Kollin Carter and the show could go on.

Fausto Puglisi turned up the volume as he evolved the Cavalli vocabulary. His Spring-Summer 2027 womenswear collection piled animal prints, florals and feathers onto the house’s familiar foundation of exposed skin and embellished denim.

Flowing robes topped low-rise jeans worn with thongs and bra tops. Cropped jeans glittered with crystals and sprouted feathers, while a mesh minidress erupted into crinkled golden ruffles. Chiffon skirts fell into long shredded hemlines, and animal prints were pieced together in a mishmash suggesting a rumble in the jungle. Prints clashed joyfully in an exuberant collection that played on all the Cavalli codes of glamour and animal instinct.

“What I like about Cavalli is that you have the possibility to create jeans as an object,” Puglisi said backstage. “You feel them, you have them and you put them in your wardrobe, and you feel better. It’s about joy.”