Articles by AFP
Chinese tech giant Alibaba posts 5 percent quarterly revenue growth
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Chinese tech and e-commerce giant Alibaba on Friday reported moderate revenue growth of five percent in its latest quarter, as Beijing works to stimulate domestic spending. The Hangzhou-based firm operates some of China's most widely used online shopping platforms, making its performance a bellwether for consumer sentiment. Alibaba's revenue...
Chinese e-commerce giant JD.com notches Q3 revenue growth
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Beijing - Chinese e-commerce giant JD.com announced accelerated third-quarter growth on Thursday, a positive sign for the firm as it grapples with lacklustre consumer spending and tough competition with its main competitor, Alibaba. Total revenue during the three-month period ended September 30 was 260.4 billion yuan (36 billion dollars), up 5.1...
Mysterious diamond-laden necklace fetches 4.8 million dollars in Geneva auction
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Geneva - A mysterious diamond-laden necklace with possible links to a scandal that contributed to the downfall of Marie Antoinette, sold for 4.8 million dollars at an auction in Geneva Wednesday. The 18th century jewel containing around 300 carats of diamonds had been estimated to sell at the Sotheby's Royal and Noble Jewels sale for 1.8-2.8...
British Vogue boss worries about return of thinness
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London - The editorial director of British Vogue magazine, Chioma Nnadi, said she was "very concerned" about the return of thin models, a trend she linked to the widespread use of anti-obesity drugs, in an interview with the BBC. "We're at a time where we're seeing thinness coming back into fashion, which is being presented as a trend when we...
Even handicraft marketplace Etsy needs AI to compete, says CEO
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The web platform Etsy is famous for selling cutesy handmade arts and crafts, but even a company that relies on a cottage industry of artisans is increasingly undergirded by artificial intelligence, its CEO told AFP on Tuesday. "You couldn't run Etsy without AI," Josh Silverman said on the sidelines of the Web Summit tech event in Lisbon. Etsy...
FC Barcelona signs new contract with Nike
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FC Barcelona announced on Saturday that it had reached a new agreement with American equipment supplier Nike, a partnership that could reach 1.7 billion euros by 2038 according to the Spanish press. Nike has manufactured the Catalan club's jersey and other kits since 1998, and the previous agreement was due to expire in 2028. "Barcelona and...
Amazon results beat third quarter expectations
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E-commerce giant Amazon reported stronger-than-expected third quarter results on Thursday, with significant growth in cloud computing and a return to profitability in its international segment. The Seattle-based tech titan posted net sales of 158.9 billion dollars for the quarter ending September 30, up 11 percent from the same period last year,...
Forget China, Chanel exec warns of luxury fatigue risk
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A slowdown in the key Chinese market is currently lashing the financial performance of luxury houses but a Chanel executive warned Monday it faces an even greater risk from oversaturation and "luxury fatigue". Frederic Grangie, head of the watch and jewellery division at Chanel, told the Swiss daily Le Temps that 2025 and 2026 will be...
India's green fashion lovers switch to secondhand
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India's enormous garment sector churns out billions of dollars' worth of new clothes each year, but some local fashion lovers are switching to secondhand to assuage worries about the industry's environmental impact. It is a tiny drop in a massive ocean, but hipster shoppers in the capital New Delhi say their example is slowly shifting the...
US court blocks Coach owner's 8.5 billion dollar buyout of Versace parent
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A US judge on Thursday blocked fashion group Tapestry's 8.5 billion dollar deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. The deal, seen as an attempt to create a new global fashion giant to compete with European powerhouses, was halted by a federal court in New York after...