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Sosandar update shows company on right track and at “inflection point”

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Womenswear retailer Sosandar has released a full-year trading update (to the end of March) and said that it’s been a period of “strong strategic progress with a positive year-on-year swing in margin and PBT”.

Sosandar

It added that it’s at an “inflection point back to top-line growth”.

In the year, the company “delivered what we set out to achieve: growth in margin and profit before tax [PBT], a reduction in price promotional activity and opening our first own stores”.

It added that it’s “now beginning to see the results of our disciplined approach coming through in our performance. March sales were in line with the prior year and this momentum has continued into April to date, with both own-site sales and sales as a whole ahead of the prior year”. 

That said, PBT for the year “was softer than we had hoped, although a substantial positive swing compared with FY24. This was driven by slower February sales, but we continued to stick to our strategy and did not chase volume through implementing price promotions”.

PBT is expected to be not less than £0.5 million, which is better than a loss of £0.3 million in the previous year and a loss of £0.7 million in the first half of FY25.

Lower revenue of £37.2 million (down from £46.3 million) reflects the “continued transition away from price promotional activity”. And the improved gross margin of 62.5%, up from 57.6% in the prior year, reflects the continued focus on margin enhancement.

The company, which was formerly a pureplay e-tailer, opened its first six stores in FY25, and as mentioned, it said that post-year-end, April trading has “been strong, ahead of the prior year, building on the momentum seen in March and providing further confidence in the continued execution of the company’s strategy”.

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Avignon becomes the next destination for Louis Vuitton’s Cruise 2026

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April 19, 2025

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Nazia BIBI KEENOO

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April 19, 2025

French fashion label Louis Vuitton has announced that its Cruise 2026 runway show will take place on May 22 at the Palais des Papes in Avignon, in southeastern France’s Provence-Alpes-Côte d’Azur region. Known for choosing architecturally striking and culturally significant venues, the brand will present the collection inside this Gothic monument, which is recognized as a French historic monument and a UNESCO World Heritage site.

The Palais des Papes in Avignon – Louis Vuitton

Nicolas Ghesquière, artistic director of women’s collections, continues his tradition of spotlighting exceptional architecture through fashion. For Cruise 2026, he has selected the Palais des Papes—an imposing 14th-century structure perched above Avignon—marking the first time a fashion show has ever occurred at the site. Commissioned by Pope Benedict XII in 1335, the palace was completed in less than two decades and spans more than 161,000 square feet with 25 public rooms.

Louis Vuitton’s Cruise—or resort wear—shows have long embraced a spirit of travel, discovery, and cultural heritage. Past collections were unveiled at iconic venues such as John Lautner’s Bob and Dolores Hope Residence in Palm Springs, Oscar Niemeyer’s Contemporary Art Museum in Niterói, I.M. Pei’s Miho Museum in Kyoto, and the Salk Institute in California. The Cruise 2026 show in Avignon follows earlier French presentations at Place du Palais in Monaco and the Fondation Maeght in Saint-Paul de Vence.

In keeping with its tradition of supporting cultural heritage and local communities, Louis Vuitton will also contribute to a public lighting project in Avignon. The initiative aims to enhance visibility and safety while celebrating the city’s architecture. It will illuminate the façades of the palace, the Avignon Cathedral, the Petit Palais, the Hôtel des Monnaies, and the Hôtel Calvet de la Palun.

The Palais des Papes is not only a historical site but also a hub for modern culture. It hosts world-class art exhibitions and is the main venue for the internationally renowned Festival d’Avignon, founded in 1947 by French actor and director Jean Vilar. By hosting Louis Vuitton’s Cruise 2026 show, the city of Avignon will also launch celebrations for the 25th anniversary of its historic center’s inclusion on the UNESCO World Heritage list.

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Trump says he’s ‘100% certain’ about U.S.-EU trade deal during White House meeting

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April 19, 2025

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Reuters

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Nazia BIBI KEENOO

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April 19, 2025

U.S. President Donald Trump and Italian Prime Minister Giorgia Meloni met at the White House on Thursday, expressing shared confidence that the United States and the European Union will successfully negotiate a trade agreement. Their remarks came during the current 90-day suspension of newly proposed “reciprocal” tariffs announced earlier this month by Washington. The pause aims to give both sides space to negotiate terms.

Giogia Meloni and Donald Trump. – Reuters

Trump, who returned to office in January, has often criticized the EU’s trade policies. However, on Thursday, he struck a notably optimistic tone. “Of course, there will be a trade deal. They want to get it done. And we’re going to get it done. That’s exactly what I expect. And it will be a fair deal,” he told reporters during the Oval Office meeting with Meloni seated beside him.

“I’m 100% certain we’ll reach an agreement,” Trump added, marking one of his strongest public statements yet in support of a potential U.S.-EU trade pact.

Meloni, who has positioned herself as a diplomatic bridge between Washington and European leadership, echoed the sentiment. She affirmed her belief in a successful outcome, although she acknowledged that she cannot finalize a deal on behalf of the whole EU bloc.

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U.S. perfume prices to rise 6% to 7% as Interparfums responds to 10% tariffs

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2 days ago

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April 18, 2025

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AFP

Translated by

Nazia BIBI KEENOO

Published



April 18, 2025

French fragrance manufacturer Interparfums plans to raise prices in the United States by 6% to 7% beginning August 1 in response to the new 10% tariffs imposed on imported goods. The company manages the perfume lines of several global fashion brands, including Coach, Jimmy Choo, Montblanc and Lacoste.

From top left: Coach New York Eau de Parfum, Lacoste L.12.12 Rose, Montblanc Legend Eau de Parfum and Jimmy Choo Man Blue—licensed lines likely to see U.S. price increases of 6% to 7% starting August 1 due to new import tariffs. – DR

CEO Philippe Benacin made the announcement Thursday at the company’s annual shareholder meeting in Paris. “We haven’t run the full calculations yet since these measures were only finalized 48 to 72 hours ago, but I believe we’ll end up with an additional €5 to €6 million in expenses this year,” he told investors.

The U.S. is Interparfums’ largest market, accounting for 38% of its total revenue in 2024. Despite the anticipated impact of tariffs, Benacin shared a confident outlook. “In the U.S., we’ve had a very strong first quarter. You’ll see for yourself in a few days,” he said. Interparfums will publish its Q1 results on April 24.

Benacin also announced the renewal of a key licensing agreement with American fashion brand Coach, extending through 2031. In 2024, Coach perfumes generated €43 million in sales for Interparfums, making it one of the group’s top-selling licenses after Jimmy Choo, which brought in €56.3 million.

In total, Interparfums reported a 10% increase in net profit for 2024, reaching €129.9 million. The group also achieved an operating margin above 20% for the year.

Paris, April 18, 2025 (AFP)

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