France's new president Emmanuel Macron wore a suit costing a modest 450 euros (just under $500) for his inauguration on Sunday, in an apparent attempt to dissociate himself from "bling-bling" politics.
The growing Italian sport outfitter might also now benefit from the Macron effect, following the election of France's president Emmanuel Macron, who like the brand, identifies as young, dynamic and very pro-European.
France's newly elected president and his wife, who media watchers say bear many similarities to the Obamas, are upending the traditions of how a French national leader and family appear on the public stage.
Few luxury executives will have a busier year than Bruno Pavlovsky, Chanel’s Fashion President, who has just overseen the launch of the Gabrielle bag; and has four major new flagship boutiques in the pipeline.
François Fillon, favourite to win France's presidential election until he was hit by allegations of financial impropriety, found himself on the defensive again on Monday, this time over gifts of expensive suits.