Quick Take — Clothing down, food flat. Confimprese and Circana certify a mini-ice in consumption by 2025

Last year, consumption fell, in value terms, by -1.4%.

This was confirmed by the customary Confimprese-Jakala observatory, relating to the months of January-December 2025, according to which the downturn was accentuated in the latter part of the year, with the period September-December showing a fall of -2.9%.

This figure is heavy, especially considering that it is calculated ‘in value’. So it means that not even the inflation effect (which according to preliminary ISTAT data will be at 1.5%) helped to straighten out the final balance or keep it at least on par.

LCC: Time-wise, market growth remained strong until the end of August From September onwards, a more cautious and resigned attitude among consumers emerged. October represented a moment of temporary recovery, but was followed by a new weakening in November and a negative close in December, with a value figure of just 0.4% and a contraction in volumes. Consumer packaged goods ended the year in negative territory (-0.9% in December in volumes).

Quick Take — Saks Global declares bankruptcy after Neiman Marcus acquisition leads to financial collapse

  • Saks Global listed assets and liabilities worth between $1 billion and $10 billion
  • Among the largest unsecured creditors are luxury brands such as Chanel and Kering, owner of Gucci.
  • Saks finalises $1.75bn package to keep shops open
  • Former Neiman van Raemdonck boss named new CEO; Richard Baker exits
  • The iconic brand’s decline culminates with Tuesday’s bankruptcy filing

Reuters. P.S: the share of department stores in the US has fallen from over 14% in 1990 to less than 3% in 2024 (-78%). The example of Sears is interesting.

Le Ossa dei Caprotti” presentation – Chiari (BS) 8 November 2025 – Rassegna della Microeditoria Italiana

This video documents the presentation of my book Le Ossa dei Caprotti held on Saturday 8 November 2025 in Chiari (BS), as part of the Rassegna della Microeditoria Italiana. In the dialogue with Claudio Baroni, I recount the origin of the book, the work on the sources and the reasons that led me to reconstruct a family history marked by myths, conflicts and complex generational transitions

New Princes will buy Carrefour Italia supermarkets: the difference between cheer and reality

One cannot improvise as a retailer and, above all, it is not always the case that aggregating several realities, with different cultures, brings strength: the acquisition of Newlat reminds me of the events of Standa and those of Auchan-Conad, but also of the Carrefour- Promodes merger or the events of Walgreens with Boots. Not to mention the lesson of the bankruptcy of Sears or that of the closure of Dominick’s for manifest incompetence

Quick Take — Normal, the discount chain from Denmark

Normal, which opened its Italian subsidiary in March 2025, now has five outlets between Milan and Rome. Founded in Denmark in 2013, Normal, with almost 900 shops in Europe, has been a resounding success in France with 210 shops and a turnover increased from €9 million to €347 million in 4 years (2020- 2024).

In France, it opens a shop every 9 days with the aim of reaching 1,000 (today Action has almost 900 in France. source: Le Monde).

The Danish chain sells mainly personal care products. It also has sweets.

With Action, it proves that simplicity, speed and standardisation in a small format can be successful.

In Italy perhaps, given the speed of the French subsidiary, development will have to be accelerated.

Drafted on 15 December, updated on 16 December 2025

Quick Take — JD.com acquires a total share of 85.2% in Ceconomy which controls Mediaworld

In the meantime, JD.com had to accept a number of restrictions, from the French and Italian governments, concerning its indirect 22% stake in FnacDarty, a share held by Ceconomy itself.

These restrictions extend, as a logical consequence, also to the subsidiary Unieuro, where the French owns 100 per cent.

The main shareholder of FnacDarty remains, however, with 28%, the Czech billionaire Daniel Kretinsky who controls Metro and what remains of Casino.

The company posted a turnover of $158.8 billion (€152.8 billion) in the financial year ending 31 December 2024.

You can read about it here.

Quick Take — Amazon reduces sales commissions in Europe in price war with Shein and Temu

As of 15 December, Amazon reduces the referral fees charged on clothes and accessories from 7% to 5% for items up to 15 euros ($17.41) or 15 pounds ($19.79) and from 15% to 10% for items between 15 and 20 euros or pounds…

Shein, which sells tops for €3 and jeans for only €8.20, has taken market share from European fast fashion retailers and challenged Amazon with its marketplace selling everything from duvet covers to hoovers

Amazon is the dominant e-commerce platform in Germany, France and other European countries, in a market where turnover is expected to grow by 7% to EUR 900 billion this year, according to forecasts by the industry association Ecommerce Europe.

Reuters

Quick Take — France: the government has initiated proceedings to block the website of e-commerce giant Shein

following the scandal surrounding the sale of child pornographic dolls. Despite the popularity of Shein – a site visited by more than 4.4 million people a day in France – the government is waging an unprecedented legal battle to force it to shut down, even if it means circumventing European legislation. “On instructions from the Prime Minister,” reads the press release, Sébastien Lecornu’s government intends to suspend ‘Shein for as long as it takes for the platform to prove to the authorities that all its content finally complies with our laws and regulations ‘ .

Below: gendarmes in front of the BHV warehouse, in Paris, where Shein has just opened a 1,500 square metre sales space, and some reflections on theunreliability and illegality practised, in some cases, without control, by Chinese sites (there is also Temu), which is the French government’s main topic on this issue.

The fact that it has not succeeded so far means that at least the problem – which is very relevant – has finally been raised.

Update: The attempt to block Shein seems to have been dropped for now. Instead, the French government is targeting a €2 tax on every article imported from non-EU countries as a measure against Chinese ‘fast fashion’ platforms. Will it succeed? And should Italy do so too?

In Italy, in fact, there is discussion of a €2 tax on small parcels from outside the EU, proposed for the 2026 economic manoeuvre.
The measure would affect parcels weighing up to two kilograms from non-EU countries – mainly China – and would aim to raise new budgetary revenue while countering unfair competition from digital giants such as Shein and Temu, which thrive in Italy thanks to online platforms where they sell products at bargain prices.

Drafted on 6 November, updated on 13 November 2025