Report
Isabel Marant : A few more months of pressure before a probable rebound
The YTD performance of the IMGRP 8.00% 2028 notes contrasts sharply with that of the previous bond (2025) which it refinanced in February 2023. Firstly, this reflects a break in operating performance that is much stronger than the downturn seen in the luxury goods market given Isabel Marant's overexposure to wholesale clients (who are adversely impacted by excess inventory), its underexposure to Asia (where growth is stronger) and its positioning in accessible luxury goods, where...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Anne-Barbara Nicco
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