BLM in Italian Fashion Campaign Shows Early Tangible Results

In this Aug. 13, 2020 file photo, fashion designer Stella Jean wears a face mask to curb the spread of COVID-19 as she holds fabrics during an interview with the Associated Press, in Rome. (AP)
In this Aug. 13, 2020 file photo, fashion designer Stella Jean wears a face mask to curb the spread of COVID-19 as she holds fabrics during an interview with the Associated Press, in Rome. (AP)
TT

BLM in Italian Fashion Campaign Shows Early Tangible Results

In this Aug. 13, 2020 file photo, fashion designer Stella Jean wears a face mask to curb the spread of COVID-19 as she holds fabrics during an interview with the Associated Press, in Rome. (AP)
In this Aug. 13, 2020 file photo, fashion designer Stella Jean wears a face mask to curb the spread of COVID-19 as she holds fabrics during an interview with the Associated Press, in Rome. (AP)

A digital runway show by five Italian fashion designers of African origin opens Milan Fashion Week on Wednesday, one tangible result of a campaign launched last summer by the only Black Italian designer belonging to the Milan fashion chamber.

After some initial resistance and a slow start, designer Stella Jean credits the Italian National Fashion Chamber with “a lot of goodwill” in pushing through an enhanced collaboration with five young designers, including financing and partnerships with Italian suppliers.

“When you want to do something, you can do them immediately,” said Jean, one of the founders of the Black Lives Matters in Italian Fashion campaign. “I have been working hard to overcome this gradualism that is part of the mentality of a certain part of the Italian fashion world.”

She launched the campaign with designer Edward Buchanan and Afro Fashion Week Milano founder Michelle Ngomo after fashion houses expressed solidarity with the Black Lives Matters Movement on Instagram, demanding that they put action behind their social media pledges.

Jean, who got her break when Giorgio Armani invited her to show in his theater in 2014, said putting the spotlight on Italians of African origin is important to combat one of the first obstacles the campaign ran up against: claims that there were no Black designers in Italy.

The collaboration with the Italian fashion council will continue in September, when five new designers from Italy’s minority communities will be featured during fashion week. And Jean also is creating an event featuring designers and artisans from Africa, with the goal of creating partnerships between Italian fashion houses that can learn sustainable production methods in exchange for training in the global fashion system.

“You speak about sustainability ad nauseam here, and what I see is anything but sustainable, believe me. In the countries where I work, people are working 99% sustainably, as a result of necessity, of restriction or desire,” Jean said.

Jean is also working on a database of African artisanal techniques, fabrics, motifs and other cultural references. The Italian-Haitian designer sees the move as a bulwark against cultural appropriation that does not economically benefit Africans and a way to prevent racist gaffes.

Valerie Steele, director of the Fashion Institute of Technology’s museum, said many of Jean’s ideas could be replicated in the United States and elsewhere.

Steele, who has some of Jean’s creations in the collection, recorded a conversation with the Italian designer for Black History Month, which will be released on FIT’s YouTube channel on Thursday to highlight Jean’s role in shaking up Italian fashion.

Steele said Black designers are also under-represented in the United States, despite the role Black culture has had on inspiring fashion there.

“When a few years ago we did an exhibition on Black fashion designers, which was an international show Stella was in, we were very shocked to realize that on the Vogue.com, something ridiculous, like 1% of the designers who were featured were Black,” Steele said.



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)
TT

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.


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)
TT

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.


UK's Debenhams Returns to Profit after Five Years, Expects Further Cost Cuts

FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
TT

UK's Debenhams Returns to Profit after Five Years, Expects Further Cost Cuts

FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Debenhams logo is seen on smartphone in front of a displayed Boohoo logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

British fashion ‌retailer Debenhams , also known as boohoo, reported a profit for the first time in five years on Friday and expects further cost cuts as a turnaround plan gathers pace, said Reuters.

Here are some more details:

-The company reported pretax profit of £28.3 million ($37.89 million) for the six ‌months ended August ‌31, compared to a ‌loss ⁠of £17.9 million a year ⁠ago, its first profit before tax since August 2021.

-Expects to reduce costs related to depreciation, lease and interest in fiscal year 2028, while a new financial ⁠facility should further cut costs.

-Debt ‌to be ‌negligible by the end of the ‌year thanks to the disposal of ‌Sheffield automation and lease assignment and sale of Nasty Gal brand, the retailer said.

-The company reported steady growth ‌in September and reiterated its previous annual forecast of gross merchandise value (GMV) ⁠growth ⁠and adjusted core profit no less than £59 million.

-It expects to deliver more than £100 million in profit before tax in the medium term and become a multi-billion-pound GMV business.

-The group's turnaround plan has been focused on streamlining its operations to tackle mounting debt and slow demand at its youth brands.