Vuitton Heir's Apartment Burgled in Paris

The epitome of French luxury GUILLAUME SOUVANT AFP
The epitome of French luxury GUILLAUME SOUVANT AFP
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Vuitton Heir's Apartment Burgled in Paris

The epitome of French luxury GUILLAUME SOUVANT AFP
The epitome of French luxury GUILLAUME SOUVANT AFP

The Paris home of an heir of the Louis Vuitton luxury empire was burgled at the weekend, sources close to the case said Monday, with thieves taking high-end watches, jewelry and bags.

Benoit-Louis Vuitton, a sixth generation descendant of the fashion house's founder, lives in the swanky seventh district of the capital near the Invalides military museum, AFP said.

The exact value of the pieces taken was still being evaluated, but they are worth at least several hundreds of thousands of euros (dollars), the sources said.

An investigation is underway, the Paris prosecutors' office said, with the capital's anti-gang unit handling the case.

The Actu17 website, which first broke the news, put the value of the bounty at several million euros.

The burglary happened overnight Sunday to Monday, when the apartment was empty, it said, adding that some of the bags taken were "hugely valuable prototypes".

Louis Vuitton, who founded his namesake luxury house in 1854 by making trunks, died aged 70 in 1892.

In 1987, the company merged with champagne maker Moet et Chandon and cognac brand Hennessy to create LVMH, which is now the world's biggest luxury company, grouping 75 brands and employing 175,000 people.

Louis Vuitton bags, with the famous "LV" monogram, are among the world's most prestigious fashion items and often copied by counterfeiters.

Last week, fake Louis Vuitton bags were among nearly one million euros' worth of knock-offs police found in a raid on a clandestine outlet near Paris.

In September, a group of armed robbers stole 300 Louis Vuitton bags from a sub-contractor working for the company, with their retail value estimated at several hundreds of thousands of euros.



Shein to Open Pop-up Store in South Africa to Woo More Shoppers

A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)
A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)
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Shein to Open Pop-up Store in South Africa to Woo More Shoppers

A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)
A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)

Fast-fashion giant Shein, known for its $5 tops and $10 dresses, will open a pop-up store in Johannesburg, South Africa in August as the online retailer aims to expand its brand recognition in the country.

Shein, founded in China, and its rival Temu have aggressively expanded worldwide as online shopping has surged after the COVID pandemic. They have been accused of exploiting tax loopholes by exporting China-made products in small quantities to avoid higher duties.

Shein will open its pop-up store from Aug. 2-11 as an "exhibition space" for customers to try on trendy fashion and lifestyle products and order them online at a discount, the company said in its South African Instagram post on Tuesday.

Local influencers were tapped for a pre-opening marketing campaign.

Brick-and-mortar and online fashion retailers have urged South African regulators to impose a 45% import duty on all clothing item imports, no matter the price, to level the playing field. Shein, which is planning to go public in Britain, taps a network of largely China-based suppliers which take small initial orders and scale up based on demand.

A Shein spokesperson told Reuters the retailer is engaging with South African regulators to ensure its continued compliance with local laws.

"That said, such tax measures are not critical to the success of our business or the competitive prices we offer our consumers. We keep our prices affordable through our technology-based on-demand business model and flexible supply chain," the spokesperson added.