The Royer Group’s attempt in 2024 to refocus on profitable activities proved insufficient. The Brittany-based footwear distributor, headquartered in Fougères, has sought the protection of the Rennes Commercial Court, the company told FashionNetwork.com.
Kickers is now the Royer Group’s flagship asset – Kickers
“Since 2022, the Royer Group has had to contend with successive crises and intensifying international competition in its market. These difficulties have weakened its operations, generating debt that the group must now address under the protection of the commercial court, and with the support of its advisers and the court-appointed administrator, as part of court-supervised reorganisation proceedings,” said the business, which employs 260 people across around twenty companies worldwide, including seven in France.
In 2019, the family-owned group, founded in 1945, reported 500 employees in France, turnover of €300 million, 45% of which came from exports, and more than 20 million pairs sold. However, the group, which owns Kickers, was forced to make major adjustments to its business, launching in 2020 a plan to cut some 150 jobs in France out of a total of 500.
In particular, the company had to adapt to the loss of its distribution licence for the US brand New Balance. Management also decided to close its Maleville site in Aveyron. The group, which had already restructured its debt in 2022, disposed of part of its Cholet premises, divested the Von Dutch brand, mothballed several high-end labels, and halted private-label activity in Germany. It thereby refocused on Kickers, whose international presence Jacques Royer aimed to develop.
According to the group, this ambition was blocked by “a level of indebtedness that is becoming too high in the face of a persistently unfavourable market context”. In 2024, the group expected turnover to be well below the €132 million achieved in 2023, 50% of which came from exports. The trend appears not to have improved in 2025.
The group, which still holds the licences for Umbro, Freegun, and Dim, as well as children’s brands Aster and Mod8, will now rely on court protection to restructure its debt. It says it aims to “find new momentum (…) to ease its cash position, while it works on a new strategic plan for four of its French companies”.
A reshaping of its scope therefore appears to be under consideration, but the group is not ruling out any option, whether validating a strategic plan, pursuing asset disposals, or seeking backing from new investors or strategic partners.
These projects will not be led by Marc Le Roux, who was recruited last year to revitalise the group as managing director. He is now Reebok‘s managing director for Europe.
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Louis Vuitton has always been about hyper-savvy brand connections, all the way to its latest show whose centerpoint was a beautiful modernist architectural set.
Louis Vuitton fall/winter 2026 collection – FashionNetwori.com
From Bauhaus to Drophaus, the term Vuitton’s menswear creative director Pharrell Williams used to describe this elegant apartment, made in collaboration with the architectural firm Not A Hotel: a prefabricated house concept envisioned as a timeless space for future living. Think a blend of midcentury modern-meets-Joseph Dirand.
An ideal setting for this expression of modernist mode by Williams, which opened Paris Fashion Week Men’s at the Louis Vuitton Foundation on a wet Tuesday night in Paris. And don’t be surprised if some of the furniture Pharrell designed for this model home turns up in the hotel Louis Vuitton is said to be building on the Champs-Élysées.
A raised model home built inside a plywood crate the size of a small stadium, on which was stencilled in half-meter high letters “Louis Vuitton Fall-Winter 26 Men’s Collection”.
An ideal Instagram backdrop for hundreds of guests, or micro and mega influencers. Many of whom where sat front row wearing the hand-made, caramel-colored Babouche slippers Williams kindly sent as a gift with his formal invitation.
A huge show backed up by a gospel choir attired in black professors’ gowns at one end, facing a full orchestra at the other.
Louis Vuitton fall/winter 2026 collection – FashionNetwork.com
Without question, the most commercially minded yet also timeless of Pharrell’s five shows so far for the house, focused on crisp, cohesive tailoring. Opening with classic six-button jackets and the flared pants that Pharrell favors, many composed in new LV technical fabrics reflective under light.
Though the heart of the matter was the travel-wear: natty crinkly jerkins so one never needs to fear coming off a long-haul flight with a crumpled look. Padded urban ski jackets with fur-trimmed hood, or chambray shell jackets for a little dash.
One also had to love the splendid ankle-brazing gents coats, finished with matching woollen bows, or vicuna zippered and pocketed sweatshirts. Above all, the American designer toned way down the streetwear, and concentrated on contemporary tailoring, and casual chic, albeit never too quiet but rippling with panache.
In accessories, a fab’ new series of monogram backpacks, elongated and finished with extra micro pockets should be huge hits. Many boasting cuddly fox companions that looked like must-have ornaments.
And, of course, it would not be a Pharrell Vuitton show without a few mammoth trunks. Two standouts this season were an uncanny light-filled, stained-glass-window version of a Tiffany lamp, followed by a beautifully made intarsia vista of Pont Alexandre III and the Eiffel Tower.
Louis Vuitton fall/winter 2026 collection – FashionNetwork.com
All of which won Pharrell a huge ovation – led by a powerhouse front row that included First Lady Brigitte Macron; “Adolescence” protagonist Stephen Graham; it-guy Djo; and crooner, John Legend.
Williams took a leisurely bow, backed up by a soundtrack he produced at the Louis Vuitton in-house recording studios. It included compositions like Pray For Ya by John Legend; Sex God by Jackson Wang (feat. Pusha T); Disturbing The P by A$AP Rocky (feat. Pharrell Williams); and The One by Voices of Fire (feat. Pharrell Williams) and Hit-A-Lik by Quavo.
In a word, another hit show, and collection, by Williams. Not bad going for what is technically his night job.
High-end menswear brand Canali recorded a slight decline in turnover in the 2025 financial year, to 205 million euros from 210 million in 2024; a decrease “linked to contingencies in certain international markets,” according to president and CEO Stefano Canali, who nonetheless describes himself as “very optimistic” about business in 2026.
Canali, Autumn-Winter 2026/27
“Right now, I think we have a kind of alignment of the stars: the right collection, backed by a credible brand that has been around for 91 years and offers top-quality products at a fair price. This is our formula for success in 2026,” the manager tells FashionNetwork.com. “The Autumn-Winter 2026/27 collection presented in Milan marks a further evolutionary step in the wake of the changes we set in motion about four years ago, designed to ensure that our offering is increasingly lifestyle-oriented while remaining consistent with our sartorial DNA, from which we will never depart, and to reflect, in a credible, authentic and recognisable way, the evolution of customers’ tastes around the world. Our DNA, tied to the highest-quality canvassed suit, therefore permeates every element of the collection, from outerwear to shoes and knitwear.”
“We are talking about the very highest quality of materials,” Canali continues, “exceptional construction quality, a unified colour palette, and a collection that can be easily mixed and matched, creating a clear and distinctive identity for the Canali brand. The ultimate goal, which we believe we have further achieved with this collection, is an elevated and sophisticated offer that is, at the same time, genuinely easy to buy and to mix and match throughout the week according to the customer’s needs. It offers the functionality and versatility in garments that people are looking for.”
Canali, Autumn-Winter 2026/27, the presentation at Galleria Meravigli
The market was almost shocked to see certain price rises applied by fashion and luxury brands. What are your thoughts on this? “Price rises are not an issue for Canali,” the CEO responds unequivocally. “Our brand has always maintained a very fair pricing position, which matters even more today, because customers out there- as they have been telling us, obsessively, for some time- no longer accept certain price points, which we, moreover, have never charged.”
Stefano Canali aims to ensure that in 2026 the overall message of the collection is increasingly amplified across all distribution channels- wholesale, directly operated retail, and online, launched in-house 10 years ago and considered “a service complement to the physical channel.” The executive signals upcoming store openings (50 directly operated Canali mono-brand stores, over 1,000 wholesale accounts worldwide), but declines to disclose details, remaining focused on healthy, credible growth in all countries.
Canali, Autumn-Winter 2026/27
The North American market accounts for 50% of the brand’s sales. Any issues with US-imposed tariffs, and with the strengthening of the euro against the dollar? “Clearly, exchange-rate fluctuations affect prices; however, it is an issue we have always dealt with throughout my time at this company,” says Stefano Canali. “Let’s remember that over two decades the euro went from being worth $0.82 to $1.60, and everyone is still here. The market clearly adapts; and of course all brands have to make their own assessments of the most appropriate price to charge in each area, but that will never be a problem.”
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China sold more goods to the world than ever in 2025, but export saleswoman Aimee Chen says it was the hardest of her roughly two-decade career. After US President Donald Trump‘s tariff hikes led to US orders plunging by a third, Chen’s pet products company moved to diversify geographies, chasing new and often lower-income markets like South America. The response mirrored China’s official trade policy, which led to a record $1.2 trillion surplus for 2025 despite new trade barriers.
Chinese flags flutter near containers stacked at the Yangshan Deep Water Port in Shanghai, China January 13, 2022. Picture taken January 13, 2022 – REUTERS/Aly Song/File Photo
Reuters interviews with 14 salespeople working on the frontlines of China’s export diversification push, however, reveal the costs and caveats behind the rosy headline trade figures. Four of the salespeople said that orders from the new markets were often smaller in volume and less lucrative than US sales, resulting in lower commissions and pay. Government data show profits at China’s industrial firms fell 13.1% year-on-year in November, the fastest pace in over a year.
Many of the employees also described longer working hours as well as greater intensity and uncertainty amid the export boom. “I’m very anxious,” said Chen, adding that she had recently experienced stress symptoms like hair loss and insomnia.
Mingwei Liu, director at the Center for Global Work and Employment at Rutgers University, said that China’s export strategy in alternative markets depended on firms chasing high volumes of cheap orders. Companies that succeed often give clients longer payment cycles and bear higher default risks, he said.
“This market reorientation increases the labour intensity, the emotional burden and income uncertainty faced by workers in export sales,” Liu said. China’s commerce ministry and human resources ministry, as well as the office which manages the cabinet’s media queries, did not respond to requests for comment.
China and the US have grown increasingly interconnected since Beijing’s 2001 accession to the World Trade Organization. Their relationship has also become more imbalanced, with their respective economic policies favouring production in the former country and consumption in the latter.
Some American retailers and Chinese producers have said they developed relationships that were so close that they could anticipate each other’s needs and red lines, making deals feel almost automatic. Chen, for instance, described her past interactions with US retailers in largely glowing terms. Clients in the world’s largest economy were often “easy-going” and signed deals quickly, she said.
By contrast, customers in new markets like to haggle on price, she said. Chinese shipments to the US fell 20% in 2025, though it remains a top export destination. Shipments rose 25.8% to Africa, 7.4% to Latin America, 13.4% to Southeast Asia, and 8.4% to the European Union last year.
While Washington and Beijing have had previous trade disputes, tensions escalated after Trump took office at the start of 2025. He raised tariffs to over 100% in April, before partially reversing and settling for a fragile detente. His re-election sent China’s export-oriented industrial complex into a rat race for foreign demand across the world.
Monica Chen, who has been selling auto parts for more than a decade in the eastern Zhejiang province, had long relied on email to keep business going. But with US tariffs in place, she’s had to fight harder to win business. That means ramping up business travel to as much as three times a month and cold-calling prospects.
“It’s very hard to develop new markets, they are basically saturated,” said Monica, who isn’t related to Aimee Chen. Her company ultimately responded by cutting prices to undercut other Chinese firms that are also looking for buyers abroad. The firm’s orders were down a third in value from 2024, Monica said.
With profits falling, companies have placed pressure on their sales agents. Cici Lv, 24, who has sold electric bicycle batteries since 2022 from the southern city of Shenzhen, earns about 5,000 yuan ($717) per month- not much more than workers in the factories that produce such units.
But while workers’ shifts come to an end, Lv said she is constantly on the clock talking to foreign clients. One of her peers, Rowan Wang, a sales rep for an exporter of agricultural equipment in eastern China, summed up the demands as “if we’re alive, we have to reply.”
Five of the salespeople also described struggles to manage less-affluent clients in markets with which they have little familiarity. Lv said she traded messages with one client for months, discussing everything from news events to lunch choices and religion. He eventually ordered just one battery, earning Lv a commission of less than $2.
A review of the top 100 most liked export-related posts on social media platform RedNote in the six months to mid-January found 37 that raised complaints about heightened job stress. Another six complained about unprofessional client interactions.
“Sometimes it messes with your mind,” said Lv, who said she’s fielded relationship proposals. The hardship described by the sales staff may be an early warning that China’s trade diversification success in 2025 could be hard to replicate in the years ahead, said Chen Bo, senior research fellow at the National University of Singapore’s East Asian Institute.
Economists have long argued that China has to develop local markets if it wants to end its deflationary cycle. Weak consumption pushes Chinese producers to compete overseas, often against each other, which brings revenue into the economy but erodes profits, Chen said. China “can’t maintain sustainable economic growth by relying on foreign markets,” the academic said.