Italy’s antitrust authority said on Monday it had reduced a record fine imposed on U.S e-commerce giant Amazon to 752.4 million euros ($878.20 million) from an original amount of 1.128 billion euros.
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The authority, which fined Amazon in 2021 for abusing its dominant position in logistics services, recalculated the penalty following a regional administrative court ruling last September.
Faume is taking its first step into America. The French start-up is taking part in the NRF trade show in New York, dedicated to retail and innovation, until January 13. The company, which specialises in managing second-hand assortments for mid- to upper-premium ready-to-wear brands, is part of the French contingent led by Business France.
The company supports several accessible luxury brands in their second-hand business. – Ba&sh
“We know that U.S. retailers are highly attuned to innovation, so this is an opportunity for us to make initial contact,” explained company co-founder, Aymeric Déchin.
“While there, we will also meet our European clients and set out our approach to the U.S. market. By supporting them in this market as well, we will demonstrate our model to American stakeholders.”
Indeed, the company, founded in Paris in 2020 by Aymeric Déchin, Nicolas Viant, Jocelyn Kerbourc’h and Lucas Patricot, is laying the groundwork to launch its business across the Atlantic, after expanding in Europe, particularly in Germany, the Benelux and the UK.
With a portfolio of 45 client brands in Europe, including Sandro, Ba&Sh, G-Star, Paul Smith and Ami, and nearly 400,000 reconditioned items sold via its white-label platforms for brands, Faume is setting up an office in New York with the ambition of starting operations in the second half of 2026.
Jocelyn Kerbourc’h, Lucas Patricot, Aymeric Déchin et Nicolas Viant – Faume
The company supports brands across their entire second-hand strategy, from sourcing items and organising logistics to resale both online and in store. Last year, it strengthened its technical capabilities, recruiting pricing and data specialists, after raising €17 million in early 2025 from longstanding investors Amundi Private Equity Transition Juste, Daphni and Bpifrance via its Digital Venture fund, and from business angels including Michaël Benabou, Stanislas de Quercize and Thibaud Hug de Larauze. It is also accelerating its geographical expansion.
Its move into the North American market is being undertaken in conjunction with its partner Erren Recondition, with whom it already works in Europe. The Dutch company, which, according to the Faume team, meets the requirements for high-end reconditioning, optimisation of local logistics and adherence to brand standards for image, quality and customer experience, will operate a logistics facility in the state of Alabama.
“We see an opportunity because most of our customers already generate 10% to 30% of their business in the US market. It therefore makes sense for them to run their second-hand operations locally,” said Déchin, who also points out that the U.S. second-hand fashion market is already worth over $50 billion and is growing three times faster than the market for new.
“Today, most existing players offer peer-to-peer resale solutions. We believe we offer a different solution for brands.”
Drawing on leading European success stories, some of which generate up to 10% of their online sales from second-hand, the French company intends to continue to scale up and is aiming for profitability by 2028.
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Bernard Arnault, CEO of LVMH, the world’s leading luxury group, was inducted into the Académie des Sciences Morales et Politiques on Monday.
Bernard Arnault during his induction at the Académie des sciences morales et politiques, on 12 January 2026 in Paris. – STEPHANE DE SAKUTIN / AFP
The billionaire was elected in December 2024 to chair 1 of the “Political Economy, Statistics and Finance” section, previously held by Denis Kessler, the former chairman of the reinsurer SCOR, who died in June 2023.
“I take up the baton that, beyond death, my friend Denis Kessler extends to me, so that within this Academy, but also beyond it, I may contribute to the spirit of freedom, ambition, generosity, uncompromising standards and entrepreneurial passion that he embodied in his own way,” said Arnault, in a tribute to his predecessor.
His sword, a ceremonial element of the Institut de France that was presented to him by Bruno Le Maire, was designed by architect Frank Gehry, who died in December and who also designed the Fondation Louis Vuitton.
The green uniform was made by Dior, one of the LVMH group’s brands.
“As for great entrepreneurs, I believe I can demonstrate that Mr. Arnault does indeed belong to this category if we consider only the objective data: the importance of the company in France and worldwide, its contribution to the prosperity of the French economy – and the European economy -, and its decisive role in disseminating and promoting French and European excellence in the global economy,” said Jean-Claude Trichet, former president of the European Central Bank, in his welcome address.
Among the guests were First Lady Brigitte Macron, Culture Minister Rachida Dati, billionaire Vincent Bolloré, Maurice Lévy, honorary chairman of Publicis, the Mayor of Paris Anne Hidalgo, the President of the Île-de-France region Valérie Pécresse, and several ambassadors, an AFP journalist observed.
The LVMH CEO was accompanied at the event by his family, several group executives and a number of designers, including Pharrell Williams, artistic director of Louis Vuitton’s menswear collections.
Like the Académie Française, the Académie des Sciences Morales et Politiques forms part of the Institut de France and comprises fifty full academicians, elected by an absolute majority of their peers to a chair left vacant by the death, prolonged absence or resignation of their predecessor.
Arnault adds this title to the Grand Cross of the Legion of Honour, which he received in March.
Paris (France), 12 Jan 2026 (AFP)
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Urban Outfitters Inc. announced on Monday a 9% uptick in holiday sales for the two months ending December 31, on the back of FP Movement and Nuuly growth.
The Philadelphia-based apparel retailer said retail segment sales rose 7%, with comparable retail sales up 5%, reflecting mid single-digit growth across both digital and physical store channels.
By brand, comparable retail sales increased 9% at Urban Outfitters, 5% at Free People and 3% at Anthropologie. FP Movement continued to outperform, delivering an 18% increase in comparable sales, while the broader Free People brand recorded a 1% gain.
The company’s subscription segment, led by rental platform Nuuly, saw net sales jump 43%, fueled by a 41% rise in average active subscribers. Wholesale net sales increased 13%, largely driven by stronger Free People sales to department stores.
For the eleven months ended December 31, total company sales were up 11% year over year. Retail segment sales rose 8%, with comparable retail sales increasing 6%, again supported by balanced growth across online and store channels. Subscription segment net sales climbed 51%, reflecting a 46% increase in average active subscribers, while wholesale net sales grew 15%.
During the eleven-month period, Urban Outfitters Inc. continued to expand its physical footprint, opening 58 new stores, including 36 Free People locations—21 of which were FP Movement stores—13 Anthropologie stores and nine Urban Outfitters stores. The company closed seven locations, including five Urban Outfitters stores and two Free People stores.