Fashion
Euro area current account surplus rises to $41.9 bn in June
The euro area’s current account surplus rose to €36 billion (~$41.9 billion) in June 2025, up from €32 billion (~$37.2 billion) in May, the European Central Bank (ECB) said. Surpluses were recorded in goods (€23 billion), services (€16 billion) and primary income (€14 billion), partly offset by a €17 billion deficit in secondary income.
Euro area current account surplus rose to €36 billion (~$41.9 billion) in June 2025 from €32 billion (~$37.2 billion) in May, with goods, services and primary income surpluses offset by a secondary income deficit.
Over 12 months, the surplus fell to €318 billion (~$369.8 billion) from €386 billion (~$448.8 billion).
Reserve assets slipped to €1,462.1 billion (~$1.70 trillion).
In the 12 months to June 2025, the current account surplus amounted to €318 billion (~$369.8 billion), representing 2 per cent of euro area GDP, down from €386 billion (~$448.8 billion) (2.6 per cent) a year earlier.
The decline was largely due to a shift in primary income from a €43 billion surplus to a €7 billion deficit, a widening secondary income deficit (from €168 billion to €186 billion), and a reduction in the services surplus (from €158 billion to €144 billion). A stronger goods surplus, rising from €354 billion to €367 billion, partly offset these declines.
On the financial account side, euro area residents recorded net acquisitions of non-euro area portfolio investment securities worth €814 billion in the 12 months to June 2025, compared with €749 billion of acquisitions by non-residents in euro area securities.
Purchases of non-euro area equity by residents surged to €235 billion from €103 billion, while debt security acquisitions rose to €579 billion from €428 billion. Non-residents’ net purchases of euro area equity increased to €391 billion from €285 billion, though debt purchases eased to €358 billion from €402 billion.
In direct investment, euro area residents made net investments of €261 billion in non-euro area assets, compared with net disinvestments of €230 billion a year earlier. Non-residents, meanwhile, invested €184 billion in euro area assets, following €374 billion in net disinvestments in the previous year, ECB said in a release.
Other investment flows also expanded, with residents’ net acquisitions of non-euro area assets rising to €636 billion from €205 billion, while their liabilities increased by €360 billion, compared with net disposals of €181 billion a year earlier.
The Eurosystem’s stock of reserve assets declined to €1,462.1 billion (~$1.70 trillion) in June, down from €1,507.7 billion in May, driven mainly by negative price changes of €34 billion due to lower gold prices and negative exchange rate effects of €13 billion. These were partly offset by modest net acquisitions of €1.4 billion.
Fibre2Fashion News Desk (HU)
A review of the trade and sustainable development provisions of the ITA is under way.
EU high representative for foreign affairs and security policy Kaja Kallas recently met Chilean Minister of Foreign Affairs Alberto van Klaveren. Both co-chaired the first EU-Chile Joint Council under the Advanced Framework Agreement in Brussels.
The EU and Chile are committed to deepening their trade and investment relations under the Interim Trade Agreement, which came into force on February 1 and will remain in force until the new Advanced Framework Agreement has been fully ratified.
Both sides will continue to cooperate on ensuring reliable and sustainable supply chains, including through diversification and support to strategic investments.
The first EU-Chile Trade Council meeting was held under the new ITA, according to an EU release.
The EU is Chile’s third-largest trade partner and the top source of foreign direct investment (FDI).
Both sides will continue to cooperate on ensuring reliable and sustainable supply chains, including through diversification and support to strategic investments, a joint statement issued said.
Chile welcomed the interest of the EU in establishing a dialogue with the member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Both parties affirm their ambition to translate this dialogue into a shared agenda.
Both sides remain committed to ensuring the effective implementation of the Advanced Framework Agreement, and to achieving its full ratification.
The provisional application of the EU-Chile Advanced Framework Agreement began on June 1, 2025.
Fibre2Fashion News Desk (DS)
Published
November 30, 2025
Chanel has appointed A$AP Rocky as a new brand ambassador and debuted his tenure with a teaser video shot in New York co-starring Margaret Qualley.
The video appeared Sunday just 48 hours before Chanel’s couturier Michel Blazy will stage his debut collection of Métiers d’Art also in New York. It’s a unique line first created by Karl Lagerfeld that highlights the unique stable of artisans Chanel has assembled in such skills as embroidery, pleating, glove-making and costume jewelry.
Directed by Michel Gondry, the 2.49-minute short opens with the stars waking up in the bed of a walkup apartment in Williamsburg. Where, after a quick peck on her lover’s forehead, Qualley disappears into a tiny bathroom, before magically changing out of her blue nightie and reappearing in a red, white and blue houndstooth Chanel jacket, paired with pale blue pants, her hair in a chignon.
https://www.youtube.com/watch?v=live
No sooner than she has disappeared, than A$AP leaps out of bed and descends the tenement building’s outside steel stairs and sets off on a mad dash after Qualley. This leads to him swimming under the Brooklyn Bridge, and running north through the Lower East Side, before finally catching up with Qualley at Astor Place station. All the action backed up my moody ambient music courtesy of Le Motel.
In between, the rapper and husband of Rihanna, manages to find time to stop in two discount stores to acquire pants and a blazer. Arriving just in time, to genuflect onto one knee, and hold out a small white Chanel box, containing one assumes a diamond engagement ring, at the station entrance. The sight of which leads the actress to leap into the air in paroxysm of joy, before the happy couple march arm and arm back into the subway.
And off one assumes to attend the Métiers d’Art show, which will be revealed on Tuesday, 8 p.m. NYC time.
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Ms. Burgoyne joined lululemon in 2006 and became the company’s first President in 2020. Throughout her tenure, she has assumed roles of increasing responsibility and led the North America business through periods of rapid growth and expansion.
Lululemon Athletica has announced that Celeste Burgoyne, president of the Americas and global guest innovation, will leave at the end of December 2025 after 19 years with the brand.
The company will consolidate regional leadership and has appointed André Maestrini as president and chief commercial officer, giving him global oversight of stores, regions, digital channels and commercial strategy.
“We are grateful for Celeste’s leadership and significant contributions to lululemon’s business and culture over the past 19 years. She has been instrumental in growing our footprint in the Americas, creating high-quality guest experiences, and mentoring our teams across the organization,” said Calvin McDonald, Chief Executive Officer, lululemon. “I deeply appreciate her partnership and friendship, and we wish her all the best in the future.”
“My time at lululemon has been both inspiring and rewarding beyond belief,” said Ms. Burgoyne. “I am so proud of what we have accomplished as an organization since I joined in 2006 and know the team will take the company to even greater heights in the years to come. I look forward to continuing to support the brand as a lifelong fan.”
In conjunction with this announcement, lululemon has made the decision to consolidate regional leadership across the company and appoint André Maestrini as President and Chief Commercial Officer, effective immediately. Mr. Maestrini will continue to report directly to Mr. McDonald.
In this newly created role, Mr. Maestrini will provide integrated oversight of all of lululemon’s regions, stores, and digital channels globally. He will also oversee lululemon’s global commercial strategy with a focus on continued market expansion, revenue generation, and accelerating best practice sharing, across all regions including North America.
Mr. Maestrini joined lululemon in 2021 as Executive Vice President of International. In his current role, he has overseen lululemon’s operations in EMEA, APAC, and China Mainland, and has helped to more than quadruple lululemon’s international revenues.
“André has demonstrated a proven ability to unlock opportunities, advance our global expansion, and deliver growth across multiple markets,” said Mr. McDonald. “Leveraging operational discipline, deep guest insights, and extensive brand-building experience, André is the ideal person to lead our business across all markets, including North America, as we remain focused on delivering value for our guests, employees, and shareholders.”
Before joining lululemon, Mr. Maestrini spent 14 years at adidas in various senior roles across the globe. During this time, he served in a number of General Manager positions where he helped grow the company’s global sports categories and regional markets. Prior to adidas, Mr. Maestrini held marketing roles at The Coca-Cola Company, Danone, and Kraft Jacobs Suchard.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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