Paco Rabanne, Who Brought the Space Age to the Catwalk, Dies Aged 88

Spanish fashion designer Paco Rabanne poses with a model wearing a white dress with a metallic headpiece after presenting his 1992/93 fall-winter haute couture collection in Paris, France, on July 29, 1992. (AP)
Spanish fashion designer Paco Rabanne poses with a model wearing a white dress with a metallic headpiece after presenting his 1992/93 fall-winter haute couture collection in Paris, France, on July 29, 1992. (AP)
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Paco Rabanne, Who Brought the Space Age to the Catwalk, Dies Aged 88

Spanish fashion designer Paco Rabanne poses with a model wearing a white dress with a metallic headpiece after presenting his 1992/93 fall-winter haute couture collection in Paris, France, on July 29, 1992. (AP)
Spanish fashion designer Paco Rabanne poses with a model wearing a white dress with a metallic headpiece after presenting his 1992/93 fall-winter haute couture collection in Paris, France, on July 29, 1992. (AP)

Paco Rabanne, the Spanish-born designer best known for his metallic ensembles and space age designs of the 1960s, has died at the age of 88.

The eponymous label he exited more than two decades ago hailed him as "among the most seminal fashion figures of the 20th century".

Rabanne dressed some of the most prominent stars of the 1960s, including French singer Francoise Hardy, whose outfits from the designer included a minidress made from gold plates and a metal link jumpsuit, as well as Jane Birkin and Serge Gainsbourg, who were pictured in matching silver outfits.

Among his most famous looks were the fitted, skin-baring ensembles worn by Jane Fonda in Roger Vadim's cult science fiction film "Barbarella".

The death of Francisco Rabaneda y Cuervo, Paco Rabanne's birth name, was confirmed by a spokesperson for Spanish group Puig, which now controls the fashion house.

"A major personality in fashion, his was a daring, revolutionary and provocative vision, conveyed through a unique aesthetic," said Marc Puig, chairman and CEO of Puig.

Born in a village in the Spanish Basque region in 1934, his mother was a head seamstress at Balenciaga. He died in Portsall in Brittany.

Rabanne grew up in France, where the family moved after Spanish troops shot dead his father, who had been a Republican commander during the civil war.

He studied architecture at the Ecole des Beaux Arts in Paris. He started his career sketching handbags for a supplier to prestigious fashion houses including Givenchy and Chanel, as well as shoes for Charles Jourdan.

He then branched into fashion, designing garments and jewellery with unconventional materials such as metal and plastic.

International expansion

His first collection, which he described as "unwearable dresses made of contemporary materials" were pieces made of strips of plastic linked with metal rings, worn by barefoot models at a presentation at the upscale Paris hotel George V.

The Paris cabaret Crazy Horse Saloon was his next venue, where models paraded his skimpy dresses and bathing suits while wearing hardhats.

While his innovation and futuristic designs won plaudits, his fascination with the supernatural prompted public derision at times. He was known for recounting past reincarnations, and in 1999, he predicted the space station Mir would crash into France, coinciding with a solar eclipse.

Surrealist Salvador Dali famously approved of his compatriot, calling him "Spain's second genius".

The designer teamed up with Spain's Puig family in the late 1960s, launching perfumes that served as a springboard for the company's international expansion.

"Paco Rabanne made transgression magnetic. Who else could induce fashionable Parisian women (to) clamor for dresses made of plastic and metal," said Jose Manuel Albesa, president of Puig's beauty and fashion division.

The label has seen a resurgence in popularity in recent years, under the creative direction of Julien Dossena, who has updated the house’s signature chainmail designs.

"We are grateful to Monsieur Rabanne for establishing our avant-garde heritage and defining a future of limitless possibilities,” the fashion house said in a statement.

The designer's work with metallic plastic gave a "sharp edge" to women's clothes, an effect that was "so much more than a New Look", fashion historian Suzy Menkes said on Instagram Friday.

"It was rather a revolutionary attitude for women who wanted both to protect and assert themselves."



Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
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Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters

The founding family of Italian fashion house Etro has sold the minority stake it still owned in the brand to a group of investors including Turkish group RAMS Global, the company said on Friday.

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner and "will continue to actively support the brand's long-term growth strategy," Etro added, according to Reuters.

The new investors comprise also Italian fashion group Swinger International and small private equity firm ⁠RSI.

In addition to buying the stake, they all subscribed to a capital increase that will lower L Catterton's holding in Etro to between 51% and 55% from around 65%.

When including both the acquisition and the capital increase, the deal is worth around 70 ⁠million euros ($82 million), two sources close to the matter said. Etro did not disclose financial details.

Chief Executive Fabrizio Cardinali will remain at the helm, while Faruk Bülbül, representing RAMS Global, will become chairman of the board.

L Catterton bought a 60% stake in the brand known for its paisley motif four years ago, and it slightly increased the holding over the years.

The company, founded by Gimmo Etro in 1968, has ⁠been struggling with its turnaround. Last year it posted a net loss of 23 million euros with net revenues declining to 245 million euros from 261 million euros, according to filings with the local chambers of commerce reviewed by Reuters.

Rothschild advised L Catterton and the Etro family on the deal.

Rothschild had been hired in 2024 to look for a new investor who could buy all or part of the Etro fashion group, sources had previously told Reuters.


Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
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Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo

A Paris court on Friday rejected a government request to suspend Chinese fast-fashion platform Shein in France after authorities found illegal weapons and child-like sex dolls for sale on the fast-fashion giant’s website.

Shein welcomed the decision, saying it remains committed to strengthening its control processes in cooperation with French authorities.

“Our priority remains protecting French consumers and ensuring compliance with local laws and regulations," the company said in an emailed statement to The Associated Press.

The controversy dates to early November, when France’s consumer watchdog and Finance Ministry moved toward suspending Shein’s online marketplace after authorities said they had found childlike sex dolls and prohibited “Class A” weapons listed for sale, even as the company opened its first permanent store in Paris.

French authorities gave Shein hours to remove the items. The company responded by banning the products and largely shutting down third-party marketplace listings in France.

French officials have also asked the European Commission to examine how illegal products were able to appear on the platform under EU rules governing large online intermediaries.


Lululemon Jumps on Elliott's $1 Billion Bet Ahead of Leadership Change

FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo
FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo
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Lululemon Jumps on Elliott's $1 Billion Bet Ahead of Leadership Change

FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo
FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo

Lululemon Athletica shares rose nearly 8% in early trading on Thursday after reports Elliott Management has built a $1 billion stake in the athleisure wear maker and is working with former Ralph Lauren executive Jane Nielsen for a potential CEO role.

The Canada-based retailer said last week that Calvin McDonald will step down after nearly seven years as its top boss, sparking hopes for a leader who can reverse slowing growth and win back younger shoppers amid fierce competition from trendier players like Alo and Vuori. The stock has lost nearly half of its value this year, underscoring investor concerns over Lululemon's struggles. The company's shares were trading at $224 on Thursday.

"Elliott is famous for agitating for change. These positions aren't built overnight, so Lululemon's board probably saw this coming," said Brian Jacobsen, chief economic strategist, Annex Wealth Management.

The activist investor has been working closely for months with Nielsen, a retail veteran, a source told Reuters on Wednesday. Nielsen, who sits on the board of Cadbury parent Mondelez, has also served as finance chief at Tapestry-owned Coach.

"Lululemon is one of the most powerful brands in retail, defined by exceptional products, deeply engaged communities and significant global potential," Nielsen said in a statement to the Wall Street Journal. "I would welcome the chance to discuss this opportunity with the Lululemon board."

Elliott, Lululemon and Nielsen did not respond to Reuters requests for comment.

Analysts have said the company will need to upgrade its fabrics, use fresher designs and accelerate product launches that click with Gen Z to reclaim its "cool factor" and lure shoppers back.

With much of its sourcing tied to Asian factories facing higher import duties, Lululemon will also need to streamline its supply chain to blunt US tariff pressures and protect margins next year, analysts have said.

"Lululemon should implement fast fashions and introduce an assortment that will pull customers from Alo and Vuori - especially Gen Z customers.

Fast fashion requires a much better supply chain than is currently in use at Lululemon," said Brittain Ladd, a strategy and supply chain consultant at Florida-based Chang Robotics.

The brand's struggles have drawn sharp criticism from founder and largest individual shareholder Chip Wilson. He has also called for an urgent CEO search, led by new, independent directors with deep company knowledge to restore a product-first focus.

Wilson did not respond to a Reuters request for comment.

With a 4.3% ownership, Wilson's stake is valued at about $988 million, according to LSEG data, making Elliott one of the top shareholders in Lululemon, which is valued at nearly $25 billion.

Lululemon trades at a forward price-to-earnings ratio of 16.37, while Gap trades at 11.88 and American Eagle at 16.81, according to LSEG data.