Connect with us

Fashion

SMCP names Kleine Tan new Asia CEO

Published

on


French fashion giant SMCP announced on Friday the appointment of Kleine Tan as CEO of the firm’s Asia region, effective April 1.

Kleine Tan – SMCP

Tan succeeds Jimmy Lam, who has decided to pursue new opportunities outside the group, which owns the Sandro, Maje, Claudie Pierlot, and Fursac brands.

“I am delighted to join SMCP. I look forward to working closely with the teams on the ground to build on the strong foundations already in place,” said Tan.

“I would like to thank Isabelle Guichot and the rest of the SMCP management team for the trust they have placed in me to continue driving the development of our brands across the region.”

An expert in the Asian market, having lived and worked in Singapore, Tokyo, Shanghai, and Hong Kong, Tan most recently served as president of Loewe Asia at LVMH, where he played a pivotal role in the brand’s expansion and performance in the region.

He began his career in 1999 at Louis Vuitton in retail and merchandising before joining Burberry, where he held regional roles in retail operations and merchandising. In 2010, he moved to Prada and Miu Miu in similar roles, followed by senior leadership positions at Givenchy as managing director for Asia-Pacific and VP Japan & APAC, where he led the strategic turnaround and growth of the business in the region.

“I am very pleased to welcome Kleine Tan as CEO of SMCP Asia. Having lived and worked in Asia for the past two decades, Kleine brings a solid international perspective and a deep understanding of the retail and wholesale dynamics across the Asia-Pacific region,” said Isabelle Guichot, CEO of SMCP Group.

“As we continue to implement our strategic roadmap in the region, notably with our network optimization in China, I am confident that Kleine will bring a new pragmatic and expert vision to the table, seizing potential new opportunities and inspiring the teams to reach new milestones. I would like to join the SMCP team in wishing him every success as he steps into his new role, and at the same time, thank Jimmy for his unwavering commitment over the past eight years with the Group.”

Evelyne Chetrite and Judith Milgrom founded Sandro and Maje in Paris in 1984 and 1998, respectively, and continue to provide creative direction for the brands. The firm acquired Claudie Pierlot and Fursac, respectively, in 2009 and 2019, with firm’s portfolio of brands present across 50 countries globally.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Europe’s secondhand fashion market projected to reach €26 billion by 2030

Published

on


Translated by

Nazia BIBI KEENOO

Published



April 23, 2025

It’s no secret that the rise of secondhand fashion in Europe continues to accelerate. A recent study by the Circular Fashion Federation, conducted with consulting firm KPMG, projects that the resale apparel market across Europe will grow from €15.9 billion in 2024 to €26 billion by 2030. This reflects an average annual growth rate of 8.5%, fueled partly by supportive policy initiatives at both the European Union and national levels.

Shutterstock

France currently leads the market, accounting for 26% of Europe’s secondhand fashion revenue in 2024—equivalent to €4.1 billion. By 2030, that figure could rise to €6.3 billion, even as France’s share adjusts to 24% of the continental total. The country’s projected annual growth rate stands at 7.4%.

Spain is expected to show the fastest growth over the ten-year period from 2024 to 2034, with an average annual increase of 8.1%. This surge is driven mainly by younger generations embracing resale. Italy follows with a 7.4% yearly growth rate, thanks to its robust e-commerce infrastructure. Germany is expected to grow at a slower pace—5.4% annually. Meanwhile, the United Kingdom, which has a mature resale ecosystem, is projected to see a 4% annual decline in secondhand fashion sales over the next several years.

Market and job trends in Europe's secondhand fashion sector
Market and job trends in Europe’s secondhand fashion sector – KPMG

Employment across the European secondhand market is also poised to grow. Approximately 119,000 people are currently employed in the sector, and the study estimates an additional 75,000 jobs could be created by 2030. Notably, the vast majority of secondhand purchases—81%—are made in physical retail environments, such as thrift stores or branded resale corners. Only 19% of sales occur online, via secondhand platforms or brands’ dedicated resale sections.

According to the study, European consumers are motivated by both price and environmental impact when purchasing secondhand clothing. “Reuse is a key lever for reducing environmental impact: buying a secondhand garment extends its lifespan by an average of 2.2 years, which can reduce its carbon, water, and waste footprint by up to 73%,” the study notes.

Another segment gaining attention is clothing rental. Although it currently makes up just 0.3% of the global apparel market and remains challenging to quantify, rental services are expected to gain traction—especially in children’s clothing. However, widespread consumer behavior shifts would be necessary to accelerate adoption, as notable barriers to rental usage still exist.

The repair market
The repair market – KPMG

Apparel and footwear repair services are also on the rise, particularly in France. A national incentive program launched in late 2023 has helped generate momentum. The repair market across Europe has grown from €2.2 billion in 2020 to €2.7 billion in 2024, with a 5.5% average annual growth rate.

Sneaker and shoe repairs are forecast to be the fastest-growing category in this segment. The study notes that repairing an item instead of replacing it can “reduce CO₂ emissions by 30% and extend its lifespan by 70%.”

French apparel repair market set to grow 7.4% annually through 2030

The apparel repair market in France is projected to grow by 7.4% annually. Across Europe, this segment could reach €3.7 billion by 2030, continuing its 5.5% average growth rate. France’s contribution is expected to rise from €1 billion in 2024 to €1.6 billion within five years—approximately 40% of the total European contribution. About 10,000 new jobs could be created across the region in the same period, including 3,000 in France alone.

Shutterstock

“For brands, offering repair services enhances after-sales experience, reduces product returns, and provides valuable insights on actual garment wear, helping optimize initial design,” the report explains.

Textile recycling—excluding footwear—shows more modest growth prospects. Without additional public incentives, expansion will remain limited. The European market is projected to grow from €1.4 billion in 2024 to €1.6 billion by 2030. France’s share is expected to be near €249 million within that timeframe. Despite technical and infrastructure-related challenges, over 3,500 new jobs could be generated in this segment.

The global circular fashion sector on the Old Continent
The global circular fashion sector on the Old Continent – KPMG

Taken together, all circular fashion sectors—including resale, repair, rental, and recycling—represent a €20 billion market in Europe in 2024. By 2030, that figure could grow to €31.3 billion, reflecting an average annual growth rate of 7.7%. France, currently valued at €5.4 billion, is projected to reach €8.2 billion by the end of the period.

The Circular Fashion Federation emphasizes that circular business models should no longer be considered niche alternatives. “They offer brands concrete tools to meet consumer expectations, enhance environmental performance, anticipate regulatory requirements, and unlock new avenues of growth,” the organization explains. However, it adds that meaningful transformation requires a coordinated effort from brands, retailers, policymakers, and consumers.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Atelier Nubio bought by Oh My Cream ! after going in receivership

Published

on


Translated by

Nicola Mira

Published



April 23, 2025

Atelier Nubio, the French brand of dietary supplements and skincare products that was placed in receivership on March 10, has been bought following court proceedings by beauty concept store Oh My Cream !

Products by Atelier Nubio – DR

Having acquired dietary supplements brand Combeau in 2023, Oh My Cream !, founded in 2013 in France by Juliette Levy, has added another name to its roster of proprietary brands, underpinned by the Oh My Cream Skincare brand launched in 2017, which two years ago accounted for 20% of the concept store’s revenue.

Atelier Nubio was founded in 2014 by Claire Nouy and Gabrielle Rotger-Marcombes, who left the company in 2023. The brand is a proponent of inner beauty, and has made a name for itself with its range of fruit juices, broths and plant-based supplements 100% produced using ingredients sourced in France. Atelier Nubio generates nearly 60% of its revenue with dietary supplements, and has expanded its range by introducing a line of facial skincare products, which currently only accounts for 4% of sales.

In 2018, Atelier Nubio carried out a seed funding round worth €1.2 million, and in 2022 it raised another €2.4 million, notably tapping the Naxicap Partners investment fund and the MouvemenT & Finance family office, which had already invested in the brand in 2018. In 2023, Atelier Nubio was forced to restructure, closing its concept store in Paris’s 11th arrondissement and dismissing part of its workforce, as well as discontinuing the fruit juices line. In 2024, it recorded a nearly 50% drop in revenue, to €1.3 million.

Despite the struggles, Atelier Nubio has forged a reputation as a serious, innovative brand in the highly competitive dietary supplements sector. Oh My Cream !, which distributes Atelier Nubio products in its 31 concept stores, will continue to feature Atelier Nubio on its e-shop, and sell it also via independent retailers.

“[Atelier Nubio’s] unique approach will be maintained, and we are planning to add to its assortment new, synergistic products and solutions straddling skincare and nutrition. This acquisition is consistent with Oh My Cream !’s strategy of broadening its portfolio of specialist proprietary brands and to promote the cosmetics sector’s shift towards a more integrated, holistic approach,” said Oh My Cream ! in a press release.

Oh My Cream ! is backed by the Eutopia and Experienced Capital investment funds and does not disclose its revenue results. Before the pandemic, it generated a revenue of €13 million.
 

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Kering sales drop 14% in first quarter as Gucci crisis deepens

Published

on


By

Reuters

Published



April 23, 2025

The crisis at Kering‘s flagship Gucci label deepened in the first quarter, the company said on Wednesday as it reported sales below market expectations amid a worsening economic environment.

Gucci – Fall-Winter2025 – 2026 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

Kering’s results, marked by a 14% annual sales decline with a 25% drop at Gucci, added to signs the luxury sector could be headed for another tough year as U.S. President Donald Trump‘s tariff announcements add to the recession fears weighing on shoppers’ appetite for fashion.

A Visible Alpha consensus of analysts cited by HSBC had forecast a 9.7% drop in group sales and a 19% decline at Gucci, which accounts for roughly half of Kering’s overall revenue and two-thirds of its profit.

“We are increasing our vigilance to weather the macroeconomic headwinds our industry faces,” Chairman and CEO Francois-Henri Pinault said in a statement. “Kering faced a difficult start to the year.”

Store traffic at the group, which also owns fashion houses Yves Saint Laurent, Bottega Veneta and Balenciaga, was weak in most regions, finance chief Armelle Poulou said.

Sales were down by 25% year-on-year in Asia and 13% in both Western Europe and North America. Kering has closed 25 stores so far this year, Poulou told journalists on a call. Company executives said in February they planned to close around 50 of 1,800 stores, a third of which are outlets, to cut costs.

The group has been facing pressure from financial markets after a string of profit warnings as it tries to revive Gucci, which lost market share and almost a quarter of its revenue last year. Its shares have lost over 60% of their value since the first warning in March 2024.

Kering’s sales report “disappoints low expectations”, said Bernstein analysts, with the much-awaited rebound at Gucci “yet to appear”. Kering recently named in-house talent Demna as Gucci’s new design chief, triggering another share selloff from investors who had hoped for a prominent external hire.

Demna has already started working with Gucci teams, Poulou said, while declining to say when the designer’s first collection will be shown on the catwalk.

The change of designer, officially effective July, is likely to further delay the label’s long-awaited rebound, analysts warned. Predecessor Sabato De Sarno, dismissed after less than two years in the job, had been recruited for a reset at Gucci in 2023, including streamlining sales channels and targeting wealthier clients.

Asked if the recent closure of a high-end Gucci salon in Los Angeles, designed to serve ultra-wealthy clients on an appointment-only basis, indicated a shift in strategy, Poulou said the company was still working on moving the label upmarket.

© Thomson Reuters 2025 All rights reserved.



Source link

Continue Reading

Trending

Copyright © Miami Select.