Fashion
Luxury brand Hermès reopens flagship store in Seoul’s Gangnam district
On 21st August 2025, Hermès is delighted to announce the opening of its newly expanded and relocated store within the Galleria department store in Seoul’s renowned Apgujeong Rodeo area of Gangnam district. As of now, located in the West hall, the bright and harmonious space offers a radiant new setting for the house’s sixteen métiers, celebrating craftsmanship while reaffirming Hermès’ local commitment.
The new store is wrapped in a striped trompe l’oeil of anodised metal inspired by the country’s vivid Dancheong decorative tradition and its contemporary aesthetic. The dynamic façade flows like a rhythmic audio file, drawing visitors into a lively environment influenced by the vibrant, high-energy local pop world, using playful pastels, bold neon, and striking contrasts.
Hermès has reopened its expanded store in Seoul’s Apgujeong Rodeo, Gangnam, on August 21, 2025.
Designed by RDAI, the space celebrates 16 métiers with vibrant décor inspired by Korea’s Dancheong tradition and pop culture.
Featuring local crafts, art, and the 2025 theme “Drawn to Craft,” it blends heritage with modernity, showcasing leather goods, fashion, home, and equestrian collections.
As guests enter the colourful store, they discover fashion jewellery and fragrances, as they are welcomed by the house’s emblematic ex-libris, set into the signature terrazzo Faubourg pattern. A large space opens, like a nave, with the silk universe in the centre. To the right, men’s shoes and ready-to-wear are set against a striped wall of contrasting shades and hand-tufted carpets of concentric circles. Home and equestrian collections are encountered behind silk, linked by oversized pebble shapes in pastel terrazzo underfoot. Lively passages lead to the back of the store, an immersive space illuminated by the emblematic Grecques lights, with shimmering teal walls and ombre carpets. Here, intimate areas unfold, offering leather goods collections on one side and jewellery and watches opposite. Combined with the private salon, the space dazzles with sleek metallic wooden walls. To the right, similar pebble-shaped carpets underpin the women’s ready-to-wear and shoes, where pastel blue terrazzo and glossy silk partitions create a soothing space for the collections.
Created by Parisian architecture agency RDAI, the store represents a playful dialogue between heritage and modernity. Drawing on the recurrent patterns of Dancheong art, the vibrant décor is a celebration of South Korea’s ancient art and vibrant new generations. Local bespoke craft pieces including silk walls and pleated paper lighting by Jungmo Kwon enhance this symphonic narrative.
Sketches, illustrations and paintings from the Émile Hermès collection and the Hermès Collection of Contemporary Photographs punctuate the space. An urban inspiration is felt throughout the shaded landscapes depicted on works from French/Senegalese artist Mamadou Cissé, and the Animapolis Carré, drawn by Polish artist Jan Bajtlik, portraying a scene of vibrantly coloured animals strolling through a city.
The annual theme of 2025, “Drawn to Craft,” goes beyond lines and surfaces. The special window displays by Korean artist, Miju Lee captures the quality of drawing by exploring creation through time, sensation and memory. As the store relocates, the two window scenes also take the viewer on a poetic narrative that transform daily life details into evocative reflections on collective imagination.
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)
Without seasonal adjustment, this number dropped by 369,000, or 0.8 per cent MoM, with the decrease being a usual seasonal phenomenon.
The seasonally-adjusted number of employed in Germany fell by 14,000 month on month (MoM) in January to 45.5 million, provisional data show.
This number was down by 0.2 per cent YoY in the month.
Around 1.86 million were unemployed in January—a rise of 11.7 per cent YoY.
The unemployment rate rose to 4.2 per cent—a rise of 0.5 pp YoY.
The number of unemployed, at 1.75 million, rose by 0.4 per cent MoM.
In the period from May to December 2025, the number was down by an average of 12,000 MoM.
The number of employed in January 2026 was down by 88,000, or 0.2 per cent, year on year (YoY).
The downward trend in the YoY labour market figures, observed since August 2025, continued, a Destatis release said.
According to the Destatis Labour Force Survey, 1.86 million were unemployed in January 2026—an increase of 195,000, or 11.7 per cent, YoY. The unemployment rate rose to 4.2 per cent—an increase of 0.5 percentage point (pp) YoY.
Adjusted for seasonal and irregular effects, the number of unemployed in January stood at 1.75 million—a MoM increase of 6,000, or 0.4 per cent. The adjusted unemployment rate remained unchanged at 4 per cent.
Fibre2Fashion News Desk (DS)
Activewear sales rose 9 per cent to $3,088 million, while Innerwear sales increased 21 per cent largely due to the acquisition. International sales declined 5 per cent to $240 million.
Gildan Activewear has reported full-year 2025 net sales of $3,619 million, up 11 per cent, supported by HanesBrands integration and growth in Activewear and Innerwear.
Adjusted EPS rose 17 per cent to $3.51, while free cash flow reached $493 million.
The company targets $250 million synergies by 2028, plans Bangladesh Phase 2 expansion, and forecasts 2026 revenue of $6-6.2 billion.
The gross profit increased to $1,130 million and gross margin improved 50 basis points to 31.2 per cent, supported by lower manufacturing and raw material costs alongside favourable pricing, partly offset by tariff pass-through. Adjusted for a $35.4 million inventory fair value step-up related to the transaction, adjusted gross profit reached $1,165 million with adjusted gross margin of 32.2 per cent; the remaining $237 million step-up is expected to flow through cost of sales in 2026, Gildan said in a press release.
Selling, general and administrative (SG&A) expenses were $389 million, while adjusted SG&A rose to $387 million (10.7 per cent of sales) from $308 million (9.4 per cent), reflecting consolidation effects and higher variable compensation. Operating income stood at $620 million (17.1 per cent margin) versus $618 million (18.9 per cent) in 2024, while adjusted operating income increased to $779 million, lifting adjusted operating margin to 21.5 per cent.
Net financial expenses climbed $45 million to $149 million due to acquisition-related borrowing. GAAP diluted EPS from continuing operations was $2.57 compared with $2.46, while adjusted diluted EPS rose 17 per cent to $3.51, benefiting from a lower diluted share base.
Operating cash flow increased to $606 million from $501 million, and free cash flow reached $493 million after capex of $114 million. Year-end net debt was $4,417 million, with leverage at 3.0x net debt to trailing 12-month proforma adjusted EBITDA.
In the fourth quarter (Q4), net sales from continuing operations rose 31.3 per cent to $1,078 million, with operating margin at 9.2 per cent and adjusted operating margin at 20.7 per cent. GAAP diluted EPS declined to $0.32, while adjusted diluted EPS increased to $0.96. Quarterly operating cash flow rose to $336 million and free cash flow to $304 million.
Integration progress is ahead of plan, with expected annual run-rate cost synergies of about $250 million by end-2028, up from the earlier $200 million target. The company plans to close two HanesBrands textile facilities in early 2026 as part of footprint optimisation.
Gildan has initiated a formal sale process for the HanesBrands Australian business, expected to generate approximately $675 million in net sales and $0.21 in diluted EPS in 2026, with proceeds earmarked for debt reduction.
For 2026, excluding HanesBrands Australia, Gildan forecasts revenue of $6-6.2 billion and adjusted diluted EPS of $4.2-4.4, alongside adjusted operating margin of about 20 per cent and free cash flow above $850 million. The company also approved a 10 per cent dividend increase, declaring a quarterly dividend of $0.249 per share.
Looking ahead, Gildan plans to develop a second textile facility within its Bangladesh complex, with initial production targeted for late 2027. From Q1 2026, segment reporting will shift from product categories to Retail and Wholesale to align with its go-to-market structure.
“Our results underscore the impressive execution by our global team whose focus is now on fully capturing the value of our expanded platform. As we look ahead to 2026, we are very excited about the HanesBrands acquisition which doubles our scale, combines iconic brands with our world-class, low-cost, vertically integrated platform, and unlocks a powerful engine for innovation and growth. The integration is well underway, and we now expect to deliver higher than initially targeted run-rate cost synergies reaching approximately $250 million by the end of 2028 with approximately $100 million in 2026,” said Glenn J Chamandy, president and CEO at Gildan Activewear.
Fibre2Fashion News Desk (SG)
CCPIT has approved 119 activities for Chinese enterprises to participate in US-based exhibitions this year; 30 are over by February, CCPIT spokesperson Wang Wenshuai told in a press conference.
It will also utilise its dedicated working group for foreign-funded enterprises, ensuring that the reasonable demands of US-funded enterprises are met, Wang was cited as saying by a state-controlled media outlet.
The China Council for the Promotion of International Trade will facilitate exchanges and collaboration between Chinese and US firms in investment, trade and technology.
It has approved 119 activities for Chinese enterprises to participate in US-based exhibitions this year; 30 are over by February.
It will also utilise its dedicated working group for foreign-funded enterprises to address US firms’ demand.
CCPIT will use events like the Asia-Pacific Economic Co-operation CEO Summit and the B20 business activities during the December G20 Leaders’ Summit as an opportunity to work with all parties, including the US business community, to build consensus, deepen co-operation and promote inclusive, strong and sustainable growth of the Asia-Pacific and global economies, Wang added.
Fibre2Fashion News Desk (DS)
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