Core Insights - The company experienced continued growth momentum in Q3, particularly in the America and EMEA regions, confirming the positive trends observed in the first half of the year [2][3][4] Sales Performance - Total sales for Q3 2025 reached €292.6 million, reflecting a 2.5% organic growth compared to Q3 2024 [3][4] - Sales in France were €97.8 million for Q3, down 0.8% year-on-year, while the first nine months saw a 1.3% increase to €304 million [3][4] - EMEA sales reached €314 million in the first nine months, marking a 6.7% organic increase compared to 2024, with Q3 sales showing an 8.3% increase [6][4] - In America, sales grew by 11.4% in the first nine months, reaching €140 million, with Q3 sales up 10.5% [8][4] - APAC sales declined by 8.8% in the first nine months, totaling €137 million, primarily due to network optimization in China [9][4] Brand Performance - Sandro and Maje brands showed positive growth, with Sandro achieving a 2.2% increase and Maje a 4.3% increase in Q3 [3][4] - The "Other brands" category saw a decline of 2.7% in Q3 [3] Strategic Initiatives - The company maintained a strict full-price strategy, resulting in a three-point decrease in the average discount rate compared to 2024, enhancing brand desirability [4][10] - Network expansion continued with 1,651 points of sale (POS) globally, including new entries in Georgia and partnerships in existing markets [4][7] Market Dynamics - The company noted resilience in France despite a complex politico-economic environment, with like-for-like sales in physical stores increasing [4][2] - The EMEA region recorded the highest sales level ever, driven by a strong retail network and positive wholesale activity, particularly in the Middle East and Turkey [6][4]