“Bridging the gap between French editorial expertise and the effervescence of American pop culture”: this is the ambition of the New York edition of Numero.
Numéro invites itself to New York Fashion Week – Numéro
As Fashion Week kicks off in the American megalopolis, the Mazarine Group, French owner of the fashion and culture media, launches a New York version. This new edition aims to combine Parisian elegance with American creativity. With this launch, the magazine founded in Paris in 1998 by Elisabeth Djian and acquired by Paul-Emmanuel Reiffers’ Groupe Mazarine, continues its internationalization and reinforces its status as a global media in fashion, art and culture.
The American edition is under the direction of Philip Utz (Editor-in-Chief) and Alexander Fisher (Fashion Director), who will work on a biannual schedule, and is presented as an editorial laboratory with fashion stories, interviews in which the interlocutors express themselves at length, and collaborations with leading names on the contemporary American art scene.
For this first issue, the focus, as is often the case at Numéro, is on fashion series and the production of several exclusive covers signed by Nick Knight, Inez & Vinoodh, Tina Barney and Vanessa Beecroft, as well as notable contributions from Jeff Koons and Rashid Johnson.
The media aims to capture New York’s energy and bring a Parisian perspective to the table – Numéro
The magazine aims to translate its often avant-garde editorial approach, both aesthetically and intellectually, to appeal to the American market. The stated ambition is to create a dialogue between “French visual rigor and American free spirit”, bringing an offbeat perspective to the fashion and culture industry.
It’s not the first time the magazine has developed editions in Tokyo, Berlin, Moscow, Shanghai, Bangkok, Amsterdam, São Paulo and Zurich.
This experience in adapting to different readerships and cultures will be essential. Numéro is entering one of the world’s most competitive fashion press markets. It remains to be seen whether its emphasis on the high-end print object, so dear to Mazarine’s CEO Paul-Emmanuel Reiffers, will appeal to New York readers.
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G-III Apparel on Tuesday raised its full-year earnings forecast on the back of better-than-expected earnings in the third quarter, which also saw the U.S. firm’s sales drop 9% to $988.6 million.
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The New York-based firm logged earnings of $80.6 million, or $1.84 per diluted share during the three months ending October 31, compared to $114.8 million, or $2.55 per diluted share, in the prior year’s third quarter.
While profits were lower than the same period last year, the owner of Karl Lagerfeld, Sonia Rykiel, and DKNY brands, “delivered a strong third quarter with gross margins and earnings far exceeding our expectations,” according to said Morris Goldfarb, G-III’s chairman and chief executive officer.
“This was driven by the strength of our go-forward portfolio, particularly our owned brands, as well as a healthy mix of full-price sales and our mitigation efforts against tariffs. I am pleased with how our brands are resonating with consumers and encouraged by the solid demand we have seen throughout the holiday season to date,” continued Goldfarb, who said his company is raising its fiscal 2026 earnings guidance to “reflect our third quarter outperformance tempered by the uncertainties around the consumer environment and tariff-related margin pressures.”
In June, G-III Apparel filed a $250-million lawsuit against PVH Corp., escalating tensions between the two fashion giants with allegations of breached licensing agreements and interference in business relationships. The complaint, filed in New York state court, targets PVH and its Calvin Klein Inc. and Tommy Hilfiger licensing divisions.
From safeguarding intellectual property to securing their own use of artificial intelligence, the fashion industry is still finding its feet with AI. Unsurprisingly, the topic took centre stage at the Assises Juridiques de la Mode, du Luxe et du Design, held in Paris on December 9 and organised by Lexposia.
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“In 2024, we submitted 2.5 million reports of counterfeit content to platforms,” explained Nicolas Lambert, LVMH’s director of online brand protection. “That’s nothing new, but AI has made it increasingly easy to generate infringing content. At the moment, for example, we’re seeing a proliferation of online ads for counterfeit Advent calendars from Sephora, Dior and other group brands.”
Alexandre Menais, general counsel for the L’Oréal group, was also on hand to bear witness to this acceleration. In his view, the growing presence of this new technology calls for fresh thinking about interactions between the company and the machine, and in particular how those interactions are used.
“With an intelligent agent, the question arises of who owns that interaction,” stressed the legal expert. “One of the risks I see is that the rules companies set, which mandate the use of closed AI, will be widely flouted. Many employees will be tempted to test AI outside the established framework.”
Christiane Féral-Schuhl, a lawyer specialising in this field, identified this risk as well. For the former bar chair and former president of the Conseil National des Barreaux, it is urgent to raise employees’ awareness of the differences between a closed AI, trained on creations and data for which rights‑holders have given their consent, and an open AI system. The latter dispenses with rights‑holders’ consent by relying on the “text and data mining” (TDM) exception.
Left, Frédéric Rose (IMKI), Nicolas Lambert (LVMH) and Christiane Féral-Schuhl (lawyer) – MG/FNW
“These AIs are ogres that swallow up all this ‘training data’, and to counter this you can build your own AI system, using protected data within a controlled framework. If an employee prefers to use an open system, they feed the machine and, in effect, share their work and creations with others — including their competitors — who may exploit it to produce infringing works.”
Féral-Schuhl also emphasised the questions to be asked of AI tool suppliers. Some stipulate in their terms that a customer’s work may be used to improve the service for all customers — which, in a creative context, should obviously be prohibited.
Frédéric Rose runs IMKI, which designs bespoke generative AI for brands such as The Kooples and G-Star. The specialist notes that AI is becoming more sophisticated. “It will soon be able to draft patterns and technical execution files,” he estimates. “It’s already getting more and more precise, and is becoming capable of specifying materials, fabric weights (grammage) or stitching types.”
This level of detail now makes it possible to spot counterfeits — for rights‑holders and consumers alike.
“Some AIs have safeguards and refuse to respond, but others give you suggestions on where to find the best dupes,” said Lambert. “Between the AI and the customer, it’s a private channel that I can’t investigate. But maybe tomorrow AI will be able to identify suspicious behaviour. Perhaps we need to imagine, as with YouTube, a DMCA‑style mechanism (a rights‑holder takedown mechanism, editor’s note) preventing an AI from pointing users to a counterfeit product.”
Hugo Weber (Mirakl), Benoît Loutrel (Arcom) et Pierre Berecz (Ebrand) – MG/FNW
“And if AI is exploited for creative purposes, we also need to define red lists of iconic elements, specific signatures, which could lead a creation to resemble that of an established brand,” said Féral-Schuhl.
She also points to the emergence of “watermarking” (or digital tattooing) of data used to train AI, which could in time be subject to copyright protection and prevent its use in AI agents’ creative processes. This comes on top of “information tagging” that records the date and place of AI‑generated creations.
The vice‑president of French unicorn Mirakl, which develops marketplaces for major retailers, Hugo Weber, for his part, spoke about the contribution AI could make to already highly efficient algorithms.
“Amazon Prime is not a logistics issue: if you’re delivered the next day, it’s because in 95% of cases your purchase was already in shipping, because the algorithm is very efficient,” summarised the specialist.
He also cautioned against turning the Shein case into a trial of marketplaces, pointing out that European, American and Chinese players all have different notions of responsibility.
The Shein case was also raised by Benoît Loutrel, chair of the online platforms working group at ARCOM (Autorité de Régulation de la Communication Audiovisuelle et Numérique).
“We’re moving from preventive action by regulators to enforcement action by the courts. I think that the next stage will involve civil law, particularly in the case of artificial intelligence,” said the specialist.
Faced with the rise of ARCOM equivalents in other European countries, he hopes to see French digital sovereignty anchored within the broader European Union framework now taking shape.
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Italian luxury sneakers brand Golden Goose is an acquisition target for Chinese investment fund HongShan, which is hoping to close the deal, worth €2.5 billion, before Christmas. The operation wouldn’t be HongShan’s first in the fashion sector.
In 2024, Golden Goose reported a revenue of €655 million – Golden Goose
HongShan was founded in 2005 by Neil Shen and Zhang Fan, as the Chinese investment arm of Sequoia Capital, and was known as Sequoia Capital China. It was an early investor in thriving Chinese tech giants like Alibaba, JD.com, Meituan, ByteDance and Pinduoduo, forging a reputation as a venture capital investor capable of identifying future market leaders and fast-tracking their growth.
Independence in 2024
Between 2023 and 2024, Sequoia Capital split up in three separate entities, and Sequoia Capital China was rebranded as HongShan (‘sequoia’ in Mandarin). In July 2024, HongShan embarked on a funding round that raised €2.15 billion ($2.5 billion). As well as becoming independent, HongShan expanded internationally, opening offices in London and, in 2025, in Tokyo, signalling that its strategy extends well beyond China’s borders.
HongShan became majority shareholder of Ami Paris in 2021, and is reportedly considering selling up soon – PP Group
Initially focused on early-stage venture capital investments, HongShan now operates across the entire funding spectrum, from seed capital to growth equity, private equity investment, and buyouts, in sectors like healthcare, consumer goods and public infrastructure. A diversification prompted by the aspiration to become a global player able to ink major international deals. As proof of its new dimension, in January 2025 HongShan acquired a majority stake in Anglo-Swedish audio equipment maker Marshall Group, valued at over $1 billion.
Track record in fashion
HongShan has moved beyond Asia and tech companies, investing also in fashion. Acquiring Golden Goose would be consistent with previous operations made by HongShan, even in its previous incarnation as part of Sequoia Capital. In 2021, it made fashion headlines by acquiring a majority stake in French label Ami Paris, which it then helped expand in China by staging runway shows and opening pop-up stores. Ami Paris is doing well, but HongShan is reportedly considering selling its stake soon.
HongShan bought a stake in Shein in 2018 – Reuters
HongShan also owns stakes in Amer Sports, lingerie brand Ubras, Urban Revivo, Halara, Miracle Miles (which owns footwear brands Dream Pairs, Bruno Marc, Norrtiv8 and Burudani), and also in Shein, the latter since 2018. The surprising elements in HongShan’s offer for Golden Goose are the brand’s valuation and the fact that its acquisition would mark HongShan’s entry into the luxury sector. HongShan’s portfolio currently includes over 1,500 names, among them 140 unicorns and 160 listed companies.