French Luxury Brand Saint Laurent Goes Fur-Free

The end of fur at Saint Laurent. ALAIN JOCARD AFP/File
The end of fur at Saint Laurent. ALAIN JOCARD AFP/File
TT
20

French Luxury Brand Saint Laurent Goes Fur-Free

The end of fur at Saint Laurent. ALAIN JOCARD AFP/File
The end of fur at Saint Laurent. ALAIN JOCARD AFP/File

French high-end fashion brand Saint Laurent will stop using fur in its collections from next year, its parent company Kering said on Friday, joining a growing list of global companies.

Kering brand Brioni will also forsake fur, the company said, making all the fashion group's houses fur-free.

Animal rights groups have long lobbied the global fashion industry to give up fur and several, including Versace, Chanel and Michael Kors, had already stopped using it, said AFP.

People for the Ethical Treatment of Animals (PETA) took the lead in protesting against Saint Laurent, demonstrating outside its store in the fashionable Avenue Montaigne in Paris this year after supermodel Kate Moss appeared in an advertising campaign for the brand wearing a fox coat.

"There is nothing glamorous about fur," PETA told Saint Laurent.

Within the Kering group, Gucci was the first to drop fur in 2017, followed by Balenciaga, Bottega Veneta et Alexander McQueen.

"The world has changed, along with our clients, and luxury naturally needs to adapt to that," Kering CEO François-Henri Pinault said in a statement.

Kering would be entirely fur-free from the Fall 2022 collections.

On Friday, among the fur items still available in Saint Laurent's webstore were a rabbit coat priced at 5,500 euros ($6,450), a sleeveless fox vest for the same price, and a pair of mink mules for 995 euros.

"We believe that killing animals not to eat them but only for their fur doesn't correspond to modern luxury which must be ethical, in sync with its times and the questions of our societies," Marie-Claire Daveu, head of sustainable development at Kering, told AFP.

LVMH, the world's largest luxury group and Kering rival, meanwhile told AFP that it continued to allow its brands to meet customer demand for fur products.

These were being made "in the most ethical and responsible way possible", LVMH said, adding that it had banned all fur from endangered species.

According to PETA, 85 percent of fur sold in the world originates from animals who live their entire lives in captivity, often in conditions "of misery" and "extreme suffering".

They are usually killed by poison gas, electrocution or beaten to death with clubs, it said.

The international fur trade is estimated to be worth several tens of billions of dollars annually, employing around one million people worldwide.



Prada Buys Versace to Create Italian Fashion Powerhouse

FILE PHOTO: The logo of fashion house Prada is seen outside a shop in Milan, Italy, April 8, 2024. REUTERS/Claudia Greco/File Photo
FILE PHOTO: The logo of fashion house Prada is seen outside a shop in Milan, Italy, April 8, 2024. REUTERS/Claudia Greco/File Photo
TT
20

Prada Buys Versace to Create Italian Fashion Powerhouse

FILE PHOTO: The logo of fashion house Prada is seen outside a shop in Milan, Italy, April 8, 2024. REUTERS/Claudia Greco/File Photo
FILE PHOTO: The logo of fashion house Prada is seen outside a shop in Milan, Italy, April 8, 2024. REUTERS/Claudia Greco/File Photo

Prada struck a $1.38 billion deal to buy smaller rival Versace from Capri Holdings on Thursday in a move that unites two of the biggest names in Italian fashion.
Prada is seeking to expand, having defied a slowdown in luxury demand, while Versace has been operating at a loss in the last few quarters.
Owning Versace, with its bold, baroque-style prints, will bring new customers to Prada, known for its minimalist style, Reuters reported.
"There are no overlaps in terms of creativity, in terms of customers," said Lorenzo Bertelli, marketing director and part of the family that controls Prada.
The merger strengthens Italy's hand in a luxury industry led by French conglomerates, the biggest being Louis Vuitton owner LVMH.
"We will provide (Versace) with a strong platform, reinforced by years of ongoing investments and rooted in longstanding relationships," Prada Chairman Patrizio Bertelli said in a statement.
Bertelli is the husband of Prada designer Miuccia Prada and the couple are leading shareholders in the company.
The deal, which comes amid uncertainty over the impact of US tariffs, is a long-term project for the Italian family-controlled group and is aimed mainly at expanding revenues rather than cost-savings, Prada Chief Executive Andrea Guerra told analysts in a conference call.
It follows the announcement on March 13 that Donatella Versace was stepping down as the chief creative officer of the brand founded by her late brother Gianni in 1978.
"Gianni and I have always had a huge admiration for Miuccia, Patrizio and their family," Donatella said.
"I am ready to support this new era for the brand in any way that I can," she added.
DISCOUNT PRICE
Capri Holdings' shares tumbled almost 10% in New York and are down nearly 30% since the start of 2025, with analysts noting the valuation was lower than expected.
The price Prada has agreed to pay - which includes debt - is a big discount to the roughly $2.15 billion including debt that US based Capri, then known as Michael Kors, paid for Versace in 2018 when it was sold by the Versace family and Blackstone.
Previous media reports had suggested a valuation of around 1.5 billion euros ($1.7 billion) but that was before recent market turmoil over tariffs.
"This transaction reflects our commitment to increase shareholder value, strengthen our balance sheet and power the future growth of Michael Kors and Jimmy Choo," said Capri CEO John Idol.
Prada said it had committed to 1.5 billion euros of new debt to fund a deal that is expected to close in the second half of the year.
The move comes at a time when several acquisitions and IPOs have been scuttled in the wake of a global equity sell-off and fears of recession triggered by US President Donald Trump's new tariffs this month.
NEW DIRECTION
Since Prada's acquisitions at the end of the 1990s of Helmut Lang and Jil Sander, which leading Prada shareholder Bertelli called "strategic mistakes", the group has largely steered clear of major dealmaking.
The Versace acquisition marks a major shift in the group's strategy and comes two years after the appointment of Guerra at the helm, a role previously held by Patrizio Bertelli and Miuccia Prada. It also reflects the growing influence of Lorenzo Bertelli, their son, who is expected to become CEO in the future.
Prada traces its roots back to a leather goods shop founded in Milan by Miuccia Prada's grandfather in 1913.
The Versace label, known for its Medusa head logo, was founded by Gianni Versace in Milan. Donatella became its creative force following the killing of Gianni in Miami in 1997.
Listed in Hong Kong, Prada has expanded rapidly under Miuccia and Bertelli, owning other brands including the fast-growing Miu Miu and Church's shoes.