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Adidas Raises 2026 Profit Forecast After Record Quarter

Ut World October 21, 2026 0

German sportswear giant Adidas has raised its operating profit forecast for 2026 to €2.5 billion from its earlier estimate of €2.3 billion, following a better-than-expected third quarter. The company also benefited from around €200 million in US customs duty refunds, most of which it has now Continue Reading

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Bernard Arnault Ordered to Pay €22.5 Million in Back Taxes, Plans Appeal

Ut World July 6, 2026 0

Bernard Arnault, CEO of luxury conglomerate LVMH and France’s richest person, has been ordered by the Paris Administrative Court of Appeal to pay nearly €22.5 million in back taxes. The ruling requires Arnault and his wife to pay €12.96 million in additional tax assessments related to 2010, including taxes, social contributions, penalties, and interest, along […]Continue Reading

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Givaudan Acquires Majority Stake in Eurofragance to Expand Global Fragrance Business

Ut World June 5, 2026 0

Swiss flavours and fragrances giant Givaudan has signed an agreement to acquire a majority stake in Spanish fragrance company Eurofragance, marking a strategic move to strengthen its presence in the global fine fragrances market. The companies announced the deal on Friday, though financial terms of the transaction were not disclosed. The acquisition is expected to […]Continue Reading

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Puma’s 2025 Results Plunge as Restructuring Plan Targets 2027 Recovery

Ut World February 28, 2026 0

German sportswear giant Puma reported a difficult end to 2025, posting revenue of €7.3 billion—down more than 13% year on year—while operating profit swung sharply to a €357 million loss from a €549 million profit in 2024. Over two years, the company has shed €1.3 billion in revenue, reflecting currency pressures, weak consumer demand, and […]Continue Reading