Kering - Statement Number of Shares and voting rights - 15.01.2026 KeringSociété anonyme with a share capital of €493,683,112Head office: 40, rue de Sèvres – 75007 PARIS552 075 020 RCS PARIS January 16, 2026 Monthly statement on the total number of shares and voting rights(articles L.233-8 of the French Commercial Code and 223-16 of the General Regulation of the French Financial Markets Authority (AMF – Autorité des Marchés Financiers) Date Total number ofshares Total number of voting rightstheoretical 1e ...

Core Viewpoint - Under Armour, Inc. is set to release its third quarter fiscal 2026 financial results on February 6, 2026, for the period ending December 31, 2025 [1] Group 1 - The earnings release will be issued at approximately 6:55 a.m. Eastern Time (ET) [1] - Following the earnings release, Under Armour management will host a conference call at approximately 8:30 a.m. ET to discuss the company's results [1] - The conference call will be webcast live and available for replay on Under Armour's Investor Relations website [2] Group 2 - Under Armour, Inc. is headquartered in Baltimore, Maryland, and is a leading inventor, marketer, and distributor of branded athletic performance apparel, footwear, and accessories [3] - The company's products are designed to empower human performance and are engineered to make athletes better [3] - For further information, Under Armour's website can be visited [3]

Core Concept - Commense is set to launch its Early Spring Collection in January 2026, aiming to redefine everyday luxury through thoughtfully designed pieces that encourage women to dress with purpose and embrace real moments [1] Group 1: Brand Philosophy - Commense distinguishes itself from fast fashion by focusing on emotional connection and authenticity rather than just transactional appeal, fostering a relationship-first philosophy [3] - The brand emphasizes how fashion can help women feel seen and understood, carving out a unique identity in a saturated market [3] Group 2: Market Positioning - Founded in 2021, Commense has quickly gained traction among fashion insiders and digital influencers, leveraging influencer-led collaborations and a strong social media presence to establish itself as a go-to label for refined style [4] - Most items are priced under $100, with many below $50, blending luxury aesthetics with everyday accessibility [4] Group 3: Product Offering - Commense offers a product range that rivals fast-fashion giants but maintains a more refined aesthetic, focusing on high-quality fabrics and timeless shapes [6] - The design ethos combines modern minimalism with classic tailoring, aiming to provide a wardrobe that supports real life through clean lines and versatile styling options [7] Group 4: Empowerment through Fashion - The upcoming collection invites women to experience a new kind of luxury that empowers rather than demands attention, promoting fashion as a personal expression of self [9] - The Early Spring Collection will be available on the brand's website alongside existing bestsellers [11]

Core Insights - VF Corporation's Smartwool brand has opened its first national store in Beijing, marking a strategic move to enhance its product matrix and optimize retail layout in China [1] - The Smartwool brand, established in 1994, specializes in high-quality Merino wool products, including apparel and accessories designed for various outdoor activities such as trail running, hiking, and skiing [1] - The President of VF Corporation's Asia-Pacific region, Matt Wang, highlighted the significant growth potential of the Chinese outdoor sports market and the ongoing prosperity of the consumer ecosystem [1] Company Overview - Smartwool focuses on products made from selected Merino wool, utilizing unique blending techniques and textile craftsmanship [1] - The product range includes short-sleeve shirts, jackets, and various types of socks tailored for outdoor activities [1] Market Strategy - The opening of the Smartwool store in Beijing aligns with the company's strategy to adapt to consumer trends and deepen its market presence in China [1] - The initiative aims to enhance local retail and service experiences, reflecting the company's commitment to the Chinese market [1]

Core Viewpoint - Ralph Lauren Corp. has appointed Cesar Conde to its board of directors, enhancing its leadership team with expertise in media and audience engagement [1][2]. Group 1: Board Appointment - Cesar Conde, chairman of NBCUniversal News Group, joins Ralph Lauren's board, increasing the total number of board members to 12 [1]. - Ralph Lauren, the executive chairman, emphasized Conde's alignment with the brand's innovative spirit and storytelling [1]. Group 2: Leadership and Strategy - Patrice Louvet, CEO of Ralph Lauren, highlighted Conde's proven track record in leading high-growth organizations and engaging new audiences, which will be crucial for the company's strategic initiatives [2]. - The company is focused on executing its "Next Great Chapter: Drive" strategy aimed at sustainable growth and value creation [2]. Group 3: Conde's Background - Conde oversees the largest news media conglomerate in the U.S., which includes NBC News and Telemundo, and has led significant growth in viewership and distribution [2]. - He also serves on the boards of Walmart and Pepsico, bringing additional experience to Ralph Lauren's board [3]. Group 4: Board Composition - The current board includes notable members such as Angela Ahrendts, Frank A. Bennack Jr., and Valerie Jarrett, alongside Conde [3].

Core Insights - The market for sports down jackets in the Taobao ecosystem is projected to grow nearly 30% in both sales volume and revenue in 2025, driven by a shift in consumer preferences towards functionality and scenario-based products [1][3]. Sales Performance - During the period from January to December 2025, sales volume of sports down jackets exceeded 10 million units, with revenue approaching 9 billion yuan, and an average price of approximately 874 yuan [3]. - Compared to traditional down jackets for men and women, which saw a decline of around 20% in both sales volume and revenue, the sports down jacket segment is experiencing robust growth [3][5]. Market Trends - The traditional down jacket market is becoming saturated, leading to a structural upgrade towards more functional and experience-enhanced sports down jackets, which are capturing market share from traditional products [5][19]. - The peak sales period for sports down jackets on Taobao and Tmall occurs from October to January, aligning with seasonal consumption patterns [5]. Price Segment Analysis - The price segment analysis of the top 500 best-selling sports down jackets indicates that products priced above 1500 yuan are emerging as a significant growth area, with a sales volume increase of over 40% [6][7]. - Brands are focusing on price segments between 1000-1500 yuan and 800-900 yuan to establish brand innovation and expand market coverage [8]. Brand Competition - Leading brands such as ADIDAS, Li Ning, ANTA, FILA, and Lululemon dominate the market, with the top five brands accounting for over 56% of sales volume and more than 63% of revenue [8][9]. - Lululemon's Wunder Puff series has shown strong performance, indicating consumer preference for specific styles and functionalities [10]. New Product Launch Trends - New product launches are concentrated from September to January, with a significant spike in October, likely influenced by major shopping events like Double Eleven [13]. - Tmall holds a dominant position in new product releases, accounting for 74.65% of new launches, with a year-on-year increase of nearly 19% [10]. Consumer Insights - Consumer feedback highlights key areas for improvement, particularly in purchasing decisions, value perception, and product quality, with a notable 29.51% of negative comments related to odor issues [15][19]. - The highest satisfaction is reported in outdoor scenarios, suggesting that specialized functional performance is recognized by consumers [19]. Future Outlook - The 2026 market for sports down jackets is expected to favor brands that can accurately identify niche demands and provide quality and innovative designs [21]. - Emphasis on scenario-driven marketing, differentiated positioning, and enhanced user experience will be crucial for brands aiming to thrive in a competitive landscape [21].

Core Insights - Whirlpool Corporation (WHR) is adapting to the slowdown in U.S. housing demand by focusing on innovation, market share gains, and structural advantages rather than relying on a macroeconomic recovery [1] Group 1: Product Strategy and Market Position - Whirlpool is aggressively renewing its product lineup in North America, with over 30% of its major domestic appliance portfolio transitioning to new products by 2025, compared to less than 10% in a typical year [2] - These product launches have resulted in significant retail flooring gains and early sell-through, contributing to market share growth in North American major appliances despite weak demand [2] - Premium products, such as the redesigned KitchenAid suite, are enhancing Whirlpool's relationships with builders and trade partners [2] Group 2: Diversification and Revenue Growth - The global small domestic appliance (SDA) segment of Whirlpool is experiencing double-digit revenue growth and strong margins, driven by new products and a growing direct-to-consumer channel that is less affected by housing cycles [3] - This diversification is providing a substantial offset to the weakness in major appliances driven by housing market challenges [3] Group 3: Future Outlook and Investments - Whirlpool is preparing for a future recovery in housing demand, citing a significant undersupply of U.S. homes and an aging housing stock as long-term demand drivers once interest rates decrease [4] - The company is investing in its U.S. manufacturing capabilities, including a $300 million expansion of its laundry facilities, positioning itself to benefit when housing demand normalizes [4] Group 4: Financial Performance and Valuation - Whirlpool's shares have declined by 11.4% over the past six months, compared to a 10.8% decline in the industry [5] - The company trades at a forward price-to-earnings ratio of 12.28X, higher than the industry average of 10.43X [7] - The Zacks Consensus Estimate for Whirlpool's 2025 earnings per share (EPS) indicates a year-over-year decline of 45.6%, while the estimate for 2026 suggests a growth of 3.8% [9]

Core Insights - The global yoga apparel market is rapidly growing, projected to reach $55.65 billion by 2032, with e-commerce as the primary sales channel, expected to account for 55% of sales by 2025 [1] - The Chinese market is also developing quickly, with online channels representing 48.2% of the market [1] - North America holds the largest market share, while the Asia-Pacific region exhibits the fastest growth [1] Market Trends - Key characteristics of the industry include full-scenario adaptation, a balance between functionality and comfort, sustainability, inclusivity in sizing, and personalization [1] - Female yoga apparel dominates the market, with yoga pants being particularly favored [1] - International high-end brands lead the market, while local and emerging brands are gaining traction through differentiated positioning [1] Online Consumption Market - By 2025, China's overall consumption market is expected to remain stable, with significant growth across various sectors on major e-commerce platforms [1] - The top ten consumer keywords reflect trends towards healthy living and AI integration, with strong performances in beauty and skincare, cosmetics, home appliances, and snacks [1] - The competitive landscape among leading brands in various sectors is becoming clearer, indicating an upgrade and diversification in consumer demand [1]

Core Insights - SMX PLC has expanded its platform into denim and recycled-denim applications, enhancing its cotton-based material authentication capabilities [1] Company Developments - The expansion into denim applications positions SMX in one of the apparel industry's largest and most widely consumed product categories [1] - This move indicates a strategic growth initiative to tap into the substantial and growing global market for denim [1]

Core Insights - Under Armour is implementing senior leadership changes to enhance its global product, brand, and marketplace strategies, effective February 2, 2026, aimed at driving sustainable growth and improved financial performance [1][2] Leadership Changes - Kara Trent has been appointed as Chief Merchandising Officer, responsible for category management and go-to-market initiatives, focusing on revenue and margin optimization through improved SKU productivity and channel profitability [2][3] - Adam Peake has been named President, Americas, tasked with leading Under Armour's business across North and South America, emphasizing marketplace strategy and omni-channel growth [4][5] - Yassine Saidi will transition to a Senior Advisor role, concentrating on design expression and creative continuity, continuing to evolve the brand's design language and performance expression [6] Experience and Background - Kara Trent brings 24 years of industry experience, previously serving as President, Americas, and Managing Director for EMEA, where she focused on profitable growth and operational rigor [3] - Adam Peake has over 25 years of leadership experience, including 16 years at Under Armour, with expertise in U.S. sales, global marketing, and category leadership, positioning him to enhance brand relevance and accelerate growth [5]