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
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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.



Sources: Shein Weighs Sale of Less Than 10% of Company in London IPO

A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
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Sources: Shein Weighs Sale of Less Than 10% of Company in London IPO

A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo

Fast fashion retailer Shein is considering asking UK regulators to waive listing rules that require at least 10% of its shares to be sold to the public in its planned London flotation, two people with knowledge of the matter said.
The company is exploring this option to facilitate its IPO, one of the people said, according to Reuters.
If granted, it would likely be the first time that a company in London has been allowed to list below the recent 10% rule.
Singapore-headquartered Shein, which sells $5 tops and $10 dresses mostly made in China, in June filed confidentially with the Financial Conduct Authority (FCA) for a London listing.
However, Britain's financial regulator is taking longer than usual to approve its application, Reuters reported last week.
The people declined to be identified as they were not authorized to speak to the media.
Shein declined to comment.
Shein was valued at $66 billion in a fundraising round last year. A 10% flotation at that valuation would make the IPO worth $6.6 billion. The biggest European IPO this year was perfume and fashion company Puig's $2.9 billion deal, according to Dealogic.
The current valuation of Shein and how much it is looking to raise via the London listing was not immediately known.
London changed its listing rules in 2021 to boost the attractiveness of the venue for companies. It cut the proportion of shares an issuer is required to float to 10% from 25%, reducing potential barriers for large IPOs, the FCA said at the time.
In July, Britain ushered in the biggest reform of company listing rules in more than three decades to help it compete more effectively with New York and the European Union for new issuers.
Shein began to explore a listing on the London Stock Exchange early this year, Reuters reported in May, citing sources. The China-founded company's original plan to list in New York was derailed after opposition from US lawmakers.
Shein is also waiting for China's securities regulator to approve its plans for a London IPO, Reuters previously reported. Its revenues are expected to hit $50 billion this year, up 55% from 2023, according to Coresight Research.