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United Repair Centre opens new Paris site with support from Patagonia

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December 4, 2025

United Repair Centre (URC), a European specialist in textile repair, has announced the opening of a new centre in Paris. The move follows an impact investment of €3.2 million, funded by French and Dutch investors alongside the City of Paris. This financing will also support the launch of two additional centres in Europe over the next two years, as well as a technical team tasked with further developing the proprietary service platforms used by URC’s clients. This site will become the network’s third European centre, after Amsterdam and London. The Paris centre will operate mainly on a B2B basis, offering its repair services directly to partner brands.

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URC already provides repair services to more than 30 textile and outdoor brands, including Patagonia, Lululemon, Levi’s, Arc’teryx, The North Face and Decathlon. In 2024, the Amsterdam and London centres repaired over 29,000 items, a volume set to increase with the opening of new sites. The arrival of the Paris centre therefore forms part of a strategy to expand capacity, in order to meet brands’ growing demand for outsourced repair solutions.

The centre will open in mid-February 2026 in the 13th arrondissement, within an ecosystem dedicated to the circular economy. This location is intended to make repair services more accessible for businesses.

URC is pursuing a Europe-wide strategy led by CEO Thami Schweichler and COO Paul Kerssens. The company plans to open two further centres over the next two years. The goal is to build a network of hubs capable of meeting demand from brands committed to circularity, and to establish URC as a key industrial partner for textile repair across the continent.

According to Thami Schweichler, URC’s arrival in Paris comes amid strong expectations for sustainable models. He notes that France is among the countries that have introduced incentive policies to curb the production and sale of short-lived garments.

Patagonia’s investment in United Repair Centre is consistent with the long-term approach the brand has championed since its inception. Patagonia has always placed environmental and social responsibility at the heart of its business model, believing that profitability should serve broader objectives than immediate gain. In his progress report, CEO Ryan Gellert notes that the company has structured its model to protect the planet and support sustainable initiatives, while using the economic tools at its disposal to maximise its impact. This philosophy is reflected in concrete decisions, such as the transfer of ownership in 2022 to safeguard the company’s values, and the distribution of funds earmarked for environmental protection.

By supporting URC, Patagonia extends this strategic approach to the textile repair sector. The opening of the Paris centre is more than a symbolic gesture: it forms part of a chain of European locations responding to growing demand from brands for B2B repair solutions.
 

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

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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.
 

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IKEA to ramp up US production as tariffs bite 

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December 5, 2025

IKEA plans to source more products from factories in the United States, the Swedish furniture group’s top supply chain executive told Reuters, as President Donald Trump‘s tariffs drive up the cost of importing bookcases, mattresses and sofas.

IKEA logo is seen in this illustration taken, February 11, 2025 – REUTERS/Dado Ruvic/Illustration/File Photo

This marks a big shift for IKEA after the share of the company’s US-made products declined over the past decade. Inter IKEA, the brand franchiser, used to have a factory in Danville, Virginia, but shut it in 2019 and moved production back to Europe.

IKEA’s push to source products closer to where it sells ⁠them aims to support the retailer’s expansion in the US, its second-biggest market, and the wider region, where it has stores in Canada, Mexico, Chile, and Colombia, with plans to open in ⁠Costa Rica and Panama.

“We are designing our supply chain network to be much more resilient, robust, and responsive,” Susanne Waidzunas, Global Supply Manager at Inter IKEA said in an interview with Reuters, adding that the company’s stores in North and South America are very dependent on furniture being shipped in, ‍with long lead ‌times. 

“The closer we can build, the faster we can react from a supply perspective, both when it goes ⁠up in demand but also when it goes ‌down,” said Waidzunas. The plan to produce closer to US consumers predates this year’s tariff hikes and is part ‌of a global initiative.

But the timing is now beneficial: IKEA prides itself on low prices but was forced to increase them on some products in the US to offset the tariff impact. The retailer’s sales have declined for two years running as it lowered prices to attract inflation-weary shoppers.

SBA Home, a ‍Lithuanian supplier to IKEA, is ramping up its first US factory in Mocksville, North Carolina, a $70 million investment supported in part by Inter IKEA. The factory will make products for IKEA like top-selling KALLAX shelves.

Jurgita Radzevice, CEO of SBA Home, said ‌manufacturing capacity at the largely ⁠automated ​factory, which is expected to produce 2 million pieces of furniture a year, is steadily ⁠increasing.

IKEA depends ​more on imports in the US than elsewhere. Just 15% of IKEA products sold in US stores are made in-country, down from 19% in 2014. In Europe, 70% of the products IKEA sells are made in the region, while the equivalent ​figure for Asia is 80%. Its top sourcing countries are China, Germany, Italy, Lithuania, and Poland.

Producing in the US is more expensive, Waidzunas said, but shipping products across the world is ⁠also more costly and more unpredictable now than before the ⁠COVID-19 pandemic. IKEA plans to buy more from existing US suppliers, which include Ohio-based Sauder Woodworking, and look for new suppliers particularly of bulky items, aiming, for example, to source most of its mattresses in the US.

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Shaftesbury Capital exec director Price to leave

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December 5, 2025

London property giant Shaftesbury Capital has announced that “following the completion of a number of important initiatives Andrew Price, executive director will be stepping down from his role at the end of this year to pursue other opportunities”.

Andrew Price – Shaftesbury Capital

Price joined the business in 2001 and has “undertaken a number of significant investment, asset management and leadership roles”.  

Following the Shaftesbury and Capco merger and the sale of the Fitzrovia portfolio he led the operations team “to achieve efficiencies across the portfolio and drive the enhancement of sustainability initiatives”. 

CEO Ian Hawksworth said that he “made a significant contribution to the company over many years.  He leaves with our thanks and best wishes for the future”.

There was no hint of where he’s off to next.

The news comes less than a month after the company said Michelle McGrath, also an executive director, would be stepping down from her role to pursue other opportunities. She too will leave  at the end of the year.

Shaftesbury Capital was created in 2022 as two of London’s major landlords merged to form an entity that now controls huge swathes of Soho, the West End and Covent Garden. Its properties have been among the most buoyant in recent periods and in an update earlier this month it talked of being “busy and vibrant through this important trading period, with high occupancy, footfall and sales volumes”.

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