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Spartoo’s H1 revenue down 8.7%, debt falls

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Nicola Mira

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September 30, 2025

French footwear and apparel e-tailer Spartoo recorded adjusted revenue of €59.6 million in H1, down 8.7%. However, the group said it generated €5.7 million in operating cash flow over 12 months, while debt fell.

Spartoo

In H1, Spartoo’s sales in France decreased by 13.9%, down to €48.9 million, while its international business posted a 1.2% rise, at €34.5 million. Adjusted EBITDA was €1.3 million.

“Despite a continually troubled market environment, we managed to increase EBIT by €1.5 million, bringing it in positive territory, while reducing our net debt by more than 44% over the period,” said CEO Boris Saragaglia. “Our goal for fiscal year 2025 will be to continue to adapt to the current market context, in order to generate a positive free cash flow,” he added.

As of June 30, 2025, Spartoo’s debt stood at €6.8 million, a €5.4 million decrease compared to the value at the end of H1 2024. Spartoo has shifted its focus towards optimising investments and costs, and on reducing inventory, aiming to improve its profitability at a time when the apparel and footwear markets are facing strong headwinds.

In H1, Spartoo’s online range of footwear, apparel, handbags and accessories, featuring 1.6 million “unique items in Europe,” produced an average purchasing basket of €91 (excluding returns), up 2%.

TooPost, the logistics business through which Spartoo gives third parties the opportunity to take advantage of its shipping solutions, attracted 31 new e-merchants, generating a business volume of €9.6 million (up 3.2%).

Having closed down 22 stores, including 10 directly owned ones, Spartoo currently operates 43 physical stores, including 39 department store concessions.

Spartoo, which claims to have 1.4 million active customers, generated a business volume of €184.7 million (down 7.7%) and a revenue of €130.5 million in fiscal 2024.

 

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Gant promotes EVP Malm to CEO role

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December 5, 2025

Gant has a new CEO as of this month. The Swedish-but-with-American-roots brand has named Fredrik Malm as its chief executive, effective December 1.

Gant CEO Fredrik Malm

It’s an internal appointment with Malm having joined Gant in 2024 as EVP Commercial, Brand & Product. He succeeds Patrik Söderström, who’d led the company for six years.

Before joining the firm, Malm was CEO of SNS, and had been president Europe & International at Coach, as well as president of sales EMEA at Ralph Lauren, and retail director at ECCO.

Gant has been owned by privately-owned Swiss business MF Brands Group (which also owns Lacoste, Tecnifibre and Aigle) since 2008. And MF’s CEO Thierry Guibert said of Gant’s new leader: “Fredrik has brought valuable and extensive leadership experience from global premium fashion and lifestyle brands. 

“I have full confidence in his ability to support Gant in its next phase of development, which will notably involve the continued elevation of the collections and an accelerated retailisation across both physical and digital channels. 

“I would also like to deeply thank Patrik Söderström for his commitment alongside us over the past 10 years. He has played a pivotal role in transforming and elevating the brand while delivering strong financial performances over the years.”

Gant has been expanding this year, and in late May it reopened its Regent Street, London flagship. It said the refurbishment of the 6,300 sq m space “represents a key milestone in the brand’s global retail investments in the UK and worldwide”. Söderström said at the time that the reopening “kicks off a global initiative to elevate our retail experience”.

The company has also been focusing on its licenses and in June announced the early renewal of its exclusive licensing deal for the design, manufacture, and global distribution of its eyewear with Marcolin. 

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France seeks three-month suspension of Shein website in court hearing

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December 5, 2025

Lawyers for Chinese online platform Shein return to a Paris court on Friday for a hearing on the French government’s request to suspend the firm’s website for three months, after childlike sex dolls and banned weapons were discovered on its marketplace.

Customers queue to enter the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l’Hotel de Ville, in Paris, France, November 5, 2025 – REUTERS/Sarah Meyssonnier/File Photo

Shein disabled its marketplace- where third-party sellers list their products- in France on November 5, after authorities found ⁠the illegal items for sale, but its main site selling Shein-branded clothing remains accessible.
The French state wants the website suspended ⁠for a minimum of three months in the country, which it argues is needed for Shein to prove that its contents comply with the law. 

It has invoked Article 6.3 of France’s digital ‍economy law, ‌which gives a judge powers to prescribe measures with the aim of ⁠preventing or halting harm caused ‌by online content. France has also summoned major internet service providers Bouygues ‌Telecom, Free, Orange, and SFR to the hearing, requesting they block Shein’s website. The court will have to decide whether a suspension is warranted, and whether it is in line with European Union law. 

In a statement last week, ‍the Paris prosecutor’s office said a three-month suspension could be deemed “disproportionate” under the case law of the European Court of Human Rights if Shein could prove ‌it has stopped ⁠all ​sales of illegal goods. However, the prosecutor said it “fully backed” the ⁠government’s demand ​that Shein provide evidence of measures taken to end those sales.

France’s move comes amid broader scrutiny of Chinese giants such as Shein and Temu under ​the EU’s Digital Services Act, reflecting concerns about consumer safety, illegal product sales and unfair competition. Meanwhile in the US, Texas Attorney ⁠General Ken Paxton said on Monday ⁠he is investigating Shein to determine whether the fast fashion retailer violated state law related to unethical labour practices and the sale of unsafe consumer products.

© Thomson Reuters 2025 All rights reserved.



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China’s HongShan eyes $2.9 billion Golden Goose deal by Christmas

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Reuters

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December 5, 2025

China’s HongShan Capital Group (HSG) has sent a 2.5 billion euro ($2.91 billion) offer to private equity Permira to buy Italian luxury sneaker maker Golden Goose, with the aim of signing the deal ⁠by Christmas, daily la Repubblica reported on Friday.

Golden Goose is known for its luxury sneakers – goldengoose.com

Details still need to be ⁠defined but the offer gives the luxury group an enterprise value of 10 times the core profit expected ‍by ‌the end of the year, debt included, ⁠the newspaper said. Golden Goose’s ‌revenues totalled 655 million euros in ‌2024, with an adjusted core profit of 227 million euros.

HSG has asked veteran fashion industry executive Marco Bizzarri to become Golden Goose’s ‍future chairman, la Repubblica said, adding that the Chinese private equity aims to expand Golden Goose’s ‌directly-managed ⁠stores, ​particularly in Asia, and plans to ⁠list ​the group in the medium-term.

Last year the Venice-based company, which sells sneakers for more ​than 500 euros a pair, shelved plans for an initial public offering ⁠on the Milan Bourse, ⁠citing market volatility caused by political uncertainty in Europe.
 

© Thomson Reuters 2025 All rights reserved.



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