Tag: billion-euros
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French fashion flags its economic importance
By Astrid Wendlandt PARIS (Reuters) – France’s fashion and fashion-related businesses such as jewels, eyewear, watches and high-end cosmetics generate more sales than its aerospace and automobile industries, according to a study commissioned by the French Fashion Institute, IFM. It said annual sales generated by fashion-related businesses based in France totaled 150 billion euros ($170…
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Rocket Internet’s sales growth slows as seeks to stem losses
By Emma Thomasson BERLIN (Reuters) – Shares in German ecommerce investor Rocket Internet slid on Tuesday after it reported that revenue growth slowed sharply in the first quarter at most of its top start-ups as it took steps to try to reduce their losses. Rocket has pledged that the 1 billion euros ($1.12 billion)it burnt…
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Italy’s fashion industry signs deal to build ties with Iran
MILAN/PARIS (Reuters) – Italy on Wednesday became the first European country to take steps to help its fashion industry build a stronger presence in Iran following the lifting of Western sanctions. The two countries signed an agreement during a two-day visit by Italian Prime Minister Matteo Renzi with a delegation of business leaders to increase…