LVMH’s third-quarter revenue dropped by 3% to $20.8B due to weak demand in China and Japan’s stronger yen. Fashion and leather goods sales fell 5% to $9.96B, while wines and spirits dropped 7% to $1.5B. While European and U.S. sales held steady, China's consumer confidence dipped to pandemic-era lows. LVMH’s selective retailing rose by 2%, but analyst predictions indicate a continued luxury market slowdown.

Vestiaire Collective, celebrating 15 years in resale, hosted a luxury item treasure hunt with 250 high-end pieces priced at $19.48. Brands like Gucci and Dior were part of the event. The platform grew 25% in 2023 and is expanding in the US.

Luxury resale platform Vestiaire Collective has introduced AI-powered search tools to improve shopping experiences. The company also hired Stacia Carr as CTO and added Jim Freeman, formerly of Amazon, to its board. AI tools like image search and price recommendations are set to roll out by the end of 2024. The secondhand luxury market remains strong despite a slowdown in luxury sales.

Yves Rocher’s marketplace launched on Sept 23, expanding its e-commerce with 12+ partner brands. With the aim of growing to 50 brands soon, this move could double online sales in the next 3 years.

Phacet raised $4.4M in seed funding on Sept. 23, 2024. The Paris-based startup aims to enhance AI adoption in SMEs across various sectors. Founder Nicolas Marchais says this will bridge the gap between AI models and SMEs' needs, making AI accessible and effective for small businesses.

Back Market held a press conference in Paris, announcing a partnership with Sony and plans to enter the U.S. market. The company, which has sold 30M refurbished devices, also introduced a new premium tier and AI-based shopping tools.

Ochama expanded its pickup point network in Paris to streamline fulfillment, responding to a 172% year-on-year order growth in France from Jan-Aug 2024. Offering faster delivery and a broader product range, the move improves shopping for French customers.

Decathlon will invest $108M in India over 5 years, adding 80 new stores to its existing 110. The brand aims to increase local production to 85% by 2026, enhancing its Indian market presence and manufacturing capabilities.

Just Eat Takeaway.com announces plan to close operations in France. The move aims to boost profitability. Financial details are undisclosed. The French market is a small part of Just Eat Takeaway.com. Support for employees is promised.

France-based Leroy Merlin’s online marketplace reached profitability in January 2024, just three years after its launch. With over 500 third-party sellers, the marketplace offers millions of additional products, driving significant growth in sales and customer engagement.

EssilorLuxottica buys Supreme for $1.5B, less than its worth. Meta may acquire 5% stake for $5B. Both companies already collaborate on smart glasses.

Philippe Berlan, CEO of France's La Redoute, will resign at the end of July. He has been with the company since 2012 and became CEO in March 2022. An interim CEO will be appointed until a successor is found.

Vestiaire Collective uses AI to launch Chinese, Dutch, and Swedish websites, expanding its global footprint and improving customer service. Demand in Hong Kong rose 208% over three years. New AI increases efficiency, accuracy, and growth in local markets.

Vestiaire Collective partners with Sojo to offer tailoring and repair services. This addresses the issue of 65% of returns due to incorrect fit. Sojo provides zero-emission pick-up and delivery, enhancing the resale value of items.

LVMH strengthens its partnership with Alibaba to redefine luxury retail in China. Leveraging Alibaba's AI and cloud technologies, LVMH aims to enhance customer experiences and streamline operations. The partnership, starting in 2019, now covers over 30 brands and includes new AI capabilities like Qwen and Bailian.

Amazon commits to investing $1.3B in France, creating 3,000 jobs. This move aligns with France's AI growth, supported by AWS's cloud infrastructure expansion in Paris.

French fashion resale start-up Paradigme raises €1.2 million in funding from investors including Showroomprivé. Founded by Fabien and Vincent Huché-Deniset, it offers B2B solutions to fashion brands and plans to expand its technology solutions and community of buyers and sellers.

Whoppah, Europe's largest online second-hand design marketplace, launches in France, aiming for pan-European dominance. With an internet penetration of nearly 94%, France presents significant growth opportunities. Whoppah's COO, Evelien Bunnik-Remmelts, highlights the scalability of their platform, backed by a solid multi-million euro turnover in Germany.

Vestiaire Collective's analysis reveals luxury items have lower "price per use" than fast fashion. For instance, a coat from Vestiaire Collective costs €1.62/use, compared to €4.83 for fast fashion. The study indicates pre-owned luxury is three times cheaper.

Vinted, a second-hand sales platform, saw a 32% sales boost in France last year, claiming 9% of the fashion market and 60% of second-hand sales, dwarfing competitors and sparking a debate on eco-conscious shopping.

Kingfisher's latest move to launch a marketplace in Castorama France introduces over 500,000 new products, enhancing choice for DIY enthusiasts. This significant expansion, enabled by Kingfisher's tech, sets a new standard in home improvement retail.

France's latest legislation introduces penalties up to $11 on fast fashion, aiming to mitigate environmental damage. This move, unanimously passed by the lower house, signals a significant shift towards sustainable fashion, directly impacting giants like Shein and Temu.

Alltricks, the French e-commerce cyclone, sweeps through 2023 with a 5% sales bump, reaching $245M. With a new CO-CEO duo steering, expansion, and a booming second-life bike service, they're pedaling past expectations.

Kering cuts direct Farfetch links, echoing Neiman Marcus's decision to exit a planned collaboration. The luxury giants' shifts reflect broader e-commerce and partnership realignments, highlighting Farfetch's challenging phase post Coupang acquisition.

JustEatTakeaway, the Dutch meal delivery giant, is bidding adieu to its Scoober division in Paris. The closure, affecting around 100 employees, marks a strategic pivot towards a third-party courier model with self-employed couriers, a move echoing the company's broader shift in France since 2022.

Vestiaire Collective, the Paris-based fashion resale giant, is making waves with a new crowdfunding campaign. They're aiming to raise a cool 1 million euros, a small but strategic piece of their 1.1 billion euro valuation pie. But wait, there's more! They're eyeing an IPO in 2025.

LVMH's "exceptional" 2023, led by Sephora, saw a 9% rise in revenue to €86.2B. Sephora, the star performer, significantly contributed to the 25% growth in Selective Retailing, reaching €17.9B. This surge was particularly notable in North America, Europe, and the Middle East... as well as Alibaba.

Amazon France Logistique, hit with a €32M fine by CNIL for overzealous worker surveillance, stirs controversy. The tech giant's tactics in tracking staff productivity, deemed excessively intrusive, challenge privacy rights and GDPR compliance.

🇫🇷 LVMH partners with TikTok against counterfeits, eyes e-commerce boom. LVMH and TikTok's potential alliance signals a strategic move to protect intellectual property and elevate the shopping experience, as TikTok targets a $17.5B US e-commerce expansion by 2024.

🇫🇷 LaPoste is testing changing rooms in post offices.. These changing rooms, resembling the iconic canary yellow French mailbox, are designed to allow customers to try on clothing items immediately after collection, facilitating on-the-spot returns if needed. This initiative, tested in a Paris branch, addresses the common issue of ill-fitting online purchases and aims to reduce the hassle of returning items

🇫🇷 LVMH’s Chaumet Debuts on Alibaba's Tmall. French luxury jewelry brand Chaumet unveils its flagship store on Alibaba's Tmall, marking a strategic move to captivate Chinese consumers. The brand offers exclusive access to its rose gold Bee My Love necklace and membership perks, setting a new standard in online luxury retail.