Fashion
Steady, slower growth in US transportation in 2026: S&P Global Ratings
The rating agency believes US gross domestic product (GDP) growth, projected at 2 per cent for 2026 and 1.9 per cent for 2027, will provide a solid foundation for steady activity across most domestic transportation infrastructure asset classes, including maritime container volumes, tolled transactions, and mass transit ridership.
US transportation activity growth will be steady in 2026 and 2027, but slower than the post-pandemic recovery years, except for US port operators, which are expected to see volumes decline in 2026, according to S&P Global Ratings.
Port container volumes are likely to decline slightly in 2025 and 2026, based on data from S&P Global Market Intelligence, before resuming a growth trend in 2027.
Mass transit ridership remains below pre-pandemic levels with a full recovery unlikely in the next two-to-three years, it noted.
It estimates average growth rates in 2026 and 2027 at 4.5 per cent for transit ridership, 2.4 per cent for port container traffic and 3 per cent for tolled transactions.
For its 2026 activity estimates, it assumes that toll roads will continue to attract and benefit from passenger and commercial vehicle growth trends.
Port container volumes, measured by twenty-foot equivalent units (TEUs), are likely to decline slightly in 2025 and 2026, based on data from S&P Global Market Intelligence, before resuming a growth trend in 2027.
US import duties are in place for the foreseeable future, but a series of lightweight trade deals based on tariff concessions in return for purchase and investment commitments will provide an offset.
Although port volumes generally move in line with the broader U.S. economy, tariffs on foreign goods are dampening demand. S&P Global Ratings’ economists forecast slower, but still positive, consumer spending growth over the near term. It expects this will lead to spillover in the form of reduced throughput at US container ports.
Ports could be stressed on both sides, as US consumers reduce demand for imports and as other countries implement retaliatory trade policies in response to higher US tariffs.
However, if the administration’s tariff policies are overturned by the US Supreme Court, another period of front-running ahead of changing trade policy and an associated uptick in port container volumes could be witnessed.
Fibre2Fashion News Desk (DS)
Fashion
Heimstone to close doors after nineteen years
Published
December 15, 2025
After nearly two decades of collections, womenswear brand Heimstone will close its doors, founder and artistic director Alix Petit announced on December 15. The decision comes amid diminished purchasing power and an increasingly tough market. The closure is planned in two stages: its physical boutique, located at 23 Rue du Cherche-Midi in the 6th arrondissement of Paris, will close on December 20, and its e-commerce platform will cease operating on December 30.
“For nineteen years, I have poured immense energy, total dedication and passion into Heimstone, which has shaped me as much as I have shaped Heimstone. But a life is never made up of a single chapter, and I now feel naturally guided towards the end of a cycle,” said Petit in a press release.
An “exhausting” French system
“I am turning the page with clarity, pride and serenity,” she continued. “I feel neither nostalgia nor regret, only the profound certainty that it is time to close one door to open another. Above all, thank you. You have been committed, loyal and dynamic year after year. This community of women is without a doubt the greatest achievement of this adventure.”

The designer also spoke candidly in a video posted on social media, thanking her community as well as her long-standing partners, while criticising a French system that “wears down” industry players, far removed from its “official line.”
A brand with international reach
Heimstone made a name for itself with collections featuring flowing cuts and colourful prints, as well as numerous pop-up stores. The label made appearances in Marseille, Lyon, Lille and Bordeaux, as well as in Brussels and London. With Heimstone, Petit placed a strong emphasis on in-store concepts, regularly innovating. Collaborations included Damart, Catimini, Spartoo, Bocage, Bugaboo and Olivia Dar.

For sales, Heimstone relies on eight stockists, including Featsy by Piccadilly Circus in Annecy, By Mahe in Megève and Frimousse le Drugstore in Rennes. A graduate of Atelier Chardon Savard, Petit made Heimstone an internationally sought-after brand at the height of its recognition, with sales in the United States, the United Arab Emirates and across Asia.
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Fashion
Louvre Museum closed as workers strike
By
AFP
Published
December 15, 2025
The Louvre Museum closed its doors to thousands of disappointed visitors on Monday as staff launched a strike to protest working conditions at the Paris landmark, two months after a shocking robbery.
Workers are demanding extra staff and measures to tackle overcrowding, adding to the woes of the world’s most visited museum just as France is gearing up for the Christmas holidays.
The strike comes nearly two months after the museum was victim of an embarrassing daylight heist that saw crown jewels worth $102 million stolen.
“We are closed,” a security agent told visitors on Monday morning, according to an AFP journalist. “Come back in a few hours.”
Around 400 employees voted unanimously to continue their strike at a general meeting, the CGT and CFDT unions said.
“I’m very disappointed, because the Louvre was the main reason for our visit in Paris, because we wanted to see the ‘Mona Lisa’,” said 37-year-old Minsoo Kim, who travelled from Seoul to Paris with his wife for their honeymoon.
Natalia Brown, a 28-year-old tourist from London, said she was also disappointed. “At the same time, I understand why they’re doing it, it’s just unfortunate timing for us.”
Speaking on the eve of the action, Christian Galani, from the hard-left CGT union, said the strike would have broad support across the museum’s 2,200-strong workforce.
“We’re going to have a lot more strikers than usual,” Galani said. “Normally, it’s front-of-house and security staff. This time, there are scientists, documentarians, collections managers, even curators and colleagues in the workshops telling us they plan to go on strike.”
All have different grievances, adding up to a picture of staff discontent inside the institution, just as it finds itself in a harsh public spotlight following the shocking robbery on October 19.
Reception and security staff complain they are understaffed and required to manage vast flows of people, with the home of Leonardo da Vinci’s “Mona Lisa” welcoming several million people beyond its planned capacity each year.
A spontaneous walk-out protest on June 16 this year led the museum to temporarily close.
The Louvre has become a symbol of so-called “over-tourism”, with the 30,000 daily visitors facing what unions call an “obstacle course” of hazards, long queues, and sub-standard toilets and catering.
Documentarians and curators are increasingly horrified by the state of disrepair inside the former royal palace, with a recent water leak and the closure of a gallery due to structural problems underlining the difficulties.
“The building is not in a good state,” chief Louvre architect Francois Chatillon admitted in front of lawmakers last month during a parliamentary hearing.
Under-fire Louvre boss Laurence des Cars, who faces persistent calls to resign, warned the government in January in a widely publicised memo about leaks, overheating and the declining visitor experience.
After the memo, French President Emmanuel Macron announced a massive renovation plan for the museum, expected to cost 700 million to 800 million euros (up to $940 million).
Questions continue to swirl since the break-in over whether it was avoidable and why a national treasure such as the Louvre appeared to be so poorly protected.
Two intruders used a portable extendable ladder to access the gallery containing the crown jewels, cutting through a glass door with angle grinders in front of startled visitors before stealing eight priceless items.
Investigations have since revealed that only one security camera was working outside when they struck, that guards in the control room did not have enough screens to watch the coverage in real time, and that police were initially misdirected.
Major security vulnerabilities were highlighted in several studies seen by management of the Louvre over the last decade, including a 2019 audit by experts at the jewellery company Van Cleef & Arpels.
Their findings stressed that the riverside balcony targeted by the thieves was a weak point and could be easily reached with an extendable ladder- exactly what transpired in the heist.
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Fashion
Gauthier Borsarello announces his departure from Fursac
Published
December 15, 2025
Under Gauthier Borsarello’s creative direction, Fursac joined the Paris Fashion Week calendar. Over five years at the creative helm of the French menswear brand, the designer remained faithful to the label’s formal roots while setting a new tone.
Under the leadership of the vintage specialist and co-founder of L’étiquette magazine, the brand, which was still called De Fursac when he arrived and had just been taken over by the SMCP group, staged its first presentation for the spring/ summer 2023 season. Last January, Borsarello staged a catwalk show to present his vision for autumn/ winter 2025-2026. In mid-December, he announced his departure via his Instagram account.
“I would like to sincerely thank Daniel Lalonde, Elina Kousourna, Alix Le Naour, Evelyne Chetrite, and Judith Milgrom for the opportunity to work at Fursac five years ago as creative director. This chapter has been meaningful, both creatively and professionally. I am grateful for the trust, the exchanges, and the freedom to contribute to the evolution of the brand,” he says in a message dated December 12.
“I am particularly proud of the studio, design, image, and communications, and of what we have achieved together: bringing the brand onto the official Fashion Week calendar after just one season, and continuing this journey through to the Paris Fashion Week show in January 2025. Thank you for the experience, perspective, and relationships built along the way. I will carry them with me on my journey.”
In five years, the designer has introduced modernised silhouettes and strengthened Fursac’s casual wardrobe, with a heightened focus on fabric choices. He has also broadened his references, from inspirations drawn from football and surfing to a more cutting-edge creative universe centred on music and the arts, as in his SS25 presentation through work with artist Lionel Estève, whose work is exhibited at the Musée Picasso in Paris.
The group confirmed this decision to FashionNetwork.com. “The group’s studio teams have taken over and are currently working on finalising the FW 2026 collection,” notes Isabelle Guichot, SMCP’s chief executive.
The brand welcomed Louise Bousquet-Andreani as its managing director at the beginning of the year. For the time being, activity at its historic premises and boutique on the corner of Richelieu-Drouot, on the Grands Boulevards in Paris, has been put on hold, FashionNetwork observed.
“The Fursac teams at the rue Richelieu boutique have been temporarily redeployed to the brand’s other Parisian stores, notably for the end-of-year sales period. SMCP hopes to reopen the rue Richelieu boutique at the beginning of 2026”, explains Isabelle Guichot, who adds that “as part of the change of ownership of the building, SMCP has decided to bring Fursac’s head office teams into its offices in the 1st arrondissement of Paris.”
Along with Claudie Pierlot, Fursac is reported under the group’s Other Brands segment in SMCP’s published results. After revenue reached €167 million in 2023, this division declined to €148 million in 2024. In the first nine months of 2025, sales were stable compared with the previous year at €108 million, on group revenue of €895 million.
Following the completion of legal proceedings regarding the actions of its former shareholder, the group’s current majority shareholders announced their intention to sell their shares on November 27.
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