In 2025, Vivaia is betting on the world’s fashion capitals. After establishing itself in New York and then London, the footwear brand has opened its second French store, on the outskirts of Paris at the Westfield Les 4 Temps shopping centre in La Défense. Inaugurated on December 9, this new location follows the first Parisian boutique, opened in 2024 at the Carrousel du Louvre, and underscores the brand’s strategy to expand its physical retail footprint. The Les 4 Temps boutique spans 135 square metres and offers the full range of Vivaia collections.
Vivaia boutique at Les 4 Temps – DR
The brand was founded in 2020 by Marina Chen, who had previously worked in fashion at Camuto Asia, and Jeff Chan, a Chinese entrepreneur who describes himself as the co-founder of the Nordace travel backpack brand. The duo envisioned a direct-to-consumer (DTC) brand with a focus on using recycled materials. The brand says it works with certified suppliers, including Repreve, to transform recycled PET plastic bottles into yarn used in the manufacture of its shoes. Production also relies on 3D knitting technologies, helping to reduce waste and incorporate recycled materials into the collections.
Marina Chen, co-founder of Vivaia – Vivaia
Since its launch, Vivaia has developed more than 200 models, from ballet flats to trainers, Mary Janes, and boots, with a particular emphasis on sole comfort and the fit of elastic uppers.
The brand has been accelerating its global roll-out, appointing Howard Herman as managing director in 2022. A former executive at Li & Fung Limited, the global supply-chain giant, he brings expertise in retail development and international strategy.
Vivaia is operated in Europe by London-based Stroud International. However, the brand rights are held by Shenzhen Starlink Network Technology Co (Starlink), a Chinese company specialising in international e-commerce. Established in Shenzhen around 2016–2017, the company, led by co-founder John Lau, was conceived as a platform for creating consumer brands to be sold directly and via marketplaces outside China, particularly in the US and Europe. Starlink, not to be confused with the company behind SpaceX, is therefore the parent of the Vivaia women’s footwear brand, as well as an athleisure label called Fanka. In 2021, the group received strategic investments from ByteDance, owner of TikTok, and Sequoia Capital, giving it the means to accelerate its global expansion.
Today, Vivaia does not disclose its turnover, but according to several media outlets it generated around €180 million in 2024. The brand is now present in 61 countries, with two directly operated stores in France and 75 internationally, including Milan and Rome, as well as in key Asian cities such as Tokyo, Manila, Singapore, Taipei, Hong Kong, Macau, and Kuala Lumpur.
In the US, the brand is stocked by major department store chains Dillard’s and Von Maur. Still absent from China, like Shein, the brand has also recently entered new markets such as Brazil and Australia, a sign of its ambition for international expansion.
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Iconic Italian luxury lifestyle brand Etro is entering a new phase of development. A consortium of industrial investors comprising Rams Global, Mathias Facchini (Swinger International), and banker Giulio Gallazzi (through SRI Group) has acquired the minority stake previously held by the Etro family. L Catterton remains the majority shareholder and will continue to actively support the brand’s long-term growth strategy.
Etro’s new investor consortium
The transaction is intended to strengthen Etro’s industrial and strategic capabilities, while underscoring strong external confidence in the brand’s positioning and future potential. Financial terms were not disclosed. However, the implied valuation exceeds that of L Catterton’s original investment, confirming the value created since it came on board.
Through their respective platforms, Rams Global, Facchini, and Gallazzi chose to invest in Etro after identifying significant untapped potential in both existing and new markets. These partners will contribute industry expertise, networks, and industrial know-how to support the next phase of international expansion and category development.
The current CEO, Fabrizio Cardinali, will remain a central figure in the company’s future, continuing to lead the execution of the strategic plan with the new investors. Faruk Bülbül, representing Rams Global, will be appointed chairman of the Board of Directors and will work closely with the CEO and shareholders to support the next phase of growth.
Etro SS26
Rams Global has over 36 years of experience across 11 business areas, from luxury residences to hospitality and gastronomy, with an established international presence in numerous countries and major global cities.
Swinger International S.p.A. is an Italian fashion group specialising in apparel, footwear, bags, and accessories in the ready-to-wear and contemporary segments. The company manages its own brands, including the women’s ready-to-wear label Genny, as well as licensed collaborations with leading international fashion houses.
Giulio Gallazzi is president & CEO of SRI Group, a private equity investor focused on SMEs. He has extensive experience in international business development, corporate finance, and corporate governance. Under his leadership, SRI Group has completed several strategic acquisitions and has become one of the main shareholders of the Banca del Fucino Group.
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Black Friday and all the discounts in the period leading up to it are supposed to boost retail sales, right? Well, not so much in the UK as official statistics on Friday showed that volume-wise, they actually fell by 0.1% in November from October. Analysts had expected sales to rise by 0.4% month-on-month.
Reuters
Coming after they’d already fallen (again, month-on-month) in October by 0.9%, it wasn’t good news. The month also saw sales volumes fall as shoppers pulled back from online shopping specifically.
The Office for National Statistics figures aren’t as useful as they used to be — they frequently get revised up or down and the headline doesn’t include a value-based percentage anymore. Plus it focuses mainly on quarterly readings as it says monthly ones are too volatile.
Confused? Let’s try to make it clearer. As mentioned, sales volumes dipped marginally month-on-month despite understandable expectations of a Black Friday-driven rise.
Volumes rose 0.6% in the quarter up to and including November compared to the previous quarter (the three months to August). And the quarter was up 0.7% compared to same period in 2024.
Volumes were also down by 3% compared with their pre-Covid pandemic level in February 2020.
We’re told that clothing stores maintained a strong three-monthly performance.
Online retail grabbed a bigger share of overall sales but the numbers still dipped. The ONS said non-store retailing was down 2.9% for the month and 0.8% for the three months.
Jonathan Moyes, Head of Investment Research at Wealth Club, called it “another grim reading on the health of the UK economy. The credit for these numbers will surely go to the Chancellor, who spent much of the month running what little confidence the UK consumer had into the ground. Clearly consumers are hurting and higher taxes will only make matters worse, potentially hampering economic growth and risking an economic doom loop”.
And Jacqui Baker, head of retail at RSM UK and chair of ICAEW’s Retail Group, added: “Speculation around potential tax hikes and the wettest weather seen this year dampened retail sales in November. The drop in sales compounded a bleak start to the all-important Golden Quarter, not even Black Friday deals could entice shoppers to splurge ahead of Christmas, with the biggest fall in online.”
Pacsun announced on Thursday it plans to opens its first Dubai store in early 2026, after the U.S. retailer open nine domestic stores in 2025 with 20-35 slated to open across the U.S. next year.
Pacsun
The debut flagship Dubai store will be Pacsun’s first international location in its 40-year history, and comes after the retailer revealed it had inked a new regional partnership in the Middle East with Majid Al Futtaim, earlier this month.
Under the agreement, Pacsun said it plans to open up to 20 stores across the Middle East over the next five years, including another flagship location in Abu Dhabi.
The Dubai location comes on the back of two recent store openings across the U.S. — in New York City and Westchester — as the Los Angeles-based retailer looks to capitalise on double-digit growth in in-store traffic.
Looking ahead, the brand plans to add 20–35 new stores over the next three years, with nine leases already signed for 2026 — making next year the biggest domestic retail expansion for the company in nearly two decades.
“Our stores have become cultural touch points for a generation that values experience as much as product. What begins on our social channels—inspiration and community—ultimately drives young people to see it in person. Doubling down on brick-and-mortar simply reflects what our community is already telling us,” said Brieane Olson, chief executive officer, Pacsun.
Earlier this month, PacSun launched a curated resale shop, introducing PS Vintage Powered by Springy, a dedicated collection of thousands of one-of-a-kind vintage pieces for men and women.