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- Group Executive Chairman message
  
  As I continue in my role as Executive Chairman, I look back on 2025 with a deep sense of perspective and gratitude. It has been an important year in the journey of our Group, marked by both a significant milestone and a natural evolution in our leadership.
  
  As we celebrated 70 years of Chalhoub Group, we also launched our Vision 2033: Bridging Horizons, setting a clear direction for the future.
  
  This year also marked a transition in leadership.
  
  I stepped into the role of Executive Chairman, while Michael, part of the third generation of our family, assumed the role of Chief Executive Officer.
  
  This transition reflects continuity, grounded in our values and our long-term perspective. It was approached with care and rigour, with the support of our Advisory Board, and through a process that considered a range of strong candidates. Michael’s appointment reflects both legacy and merit, ensuring the Group is well positioned for what comes next.
  
  In this new phase, my role focuses on guidance, stewardship, and governance. I remain closely engaged, supporting Michael and our leadership team, while ensuring continuity in how we think, decide, and build for the long term.
  
  I have always believed in servant leadership, where leadership is expressed through support, presence, and the responsibility to create the conditions for others to lead well and contribute fully.
  
  Reaching 70 years was a moment of reflection. It reaffirmed what defines Chalhoub Group: a family-built business shaped by trust, care, and long-term relationships, where value is created through people, strengthened through partners, and sustained with responsibility towards our planet.
  
  Sustainability is central to how we move forward. It reflects our evolution from a tradition of family philanthropy to an approach that is fully embedded in our business. It informs how we manage performance, risk, and opportunity, and how we create long-term value across our ecosystem.
  
  For me, this commitment reflects where we come from and where we are going. It is an expression of our heritage, and of the responsibility we carry towards the future we are helping to shape. I am encouraged to see this commitment fully embraced by our Executive Committee, with clear progress in our ESG ambitions and a shared determination to continue delivering on them.
  
  Looking ahead, we remain focused on strengthening an organisation that is ready for the future, building with purpose, acting with responsibility, and staying true to the foundations that have guided us for generations.
  
  Because I believe that a business like ours is not something we own. It is something we hold in trust. It has been shaped by those who came before us, and it will be passed on to those who will follow. It is through this sense of stewardship that growth becomes truly sustainable.
  
  Patrick Chalhoub
  Executive Chairman
As I continue in my role as Executive Chairman, I look back on 2025 with a deep sense of perspective and gratitude. It has been an important year in the journey of our Group, marked by both a significant milestone and a natural evolution in our leadership.

As we celebrated 70 years of Chalhoub Group, we also launched our Vision 2033: Bridging Horizons, setting a clear direction for the future.

This year also marked a transition in leadership.

I stepped into the role of Executive Chairman, while Michael, part of the third generation of our family, assumed the role of Chief Executive Officer.

This transition reflects continuity, grounded in our values and our long-term perspective. It was approached with care and rigour, with the support of our Advisory Board, and through a process that considered a range of strong candidates. Michael’s appointment reflects both legacy and merit, ensuring the Group is well positioned for what comes next.

In this new phase, my role focuses on guidance, stewardship, and governance. I remain closely engaged, supporting Michael and our leadership team, while ensuring continuity in how we think, decide, and build for the long term.

I have always believed in servant leadership, where leadership is expressed through support, presence, and the responsibility to create the conditions for others to lead well and contribute fully.

Reaching 70 years was a moment of reflection. It reaffirmed what defines Chalhoub Group: a family-built business shaped by trust, care, and long-term relationships, where value is created through people, strengthened through partners, and sustained with responsibility towards our planet.

Sustainability is central to how we move forward. It reflects our evolution from a tradition of family philanthropy to an approach that is fully embedded in our business. It informs how we manage performance, risk, and opportunity, and how we create long-term value across our ecosystem.

For me, this commitment reflects where we come from and where we are going. It is an expression of our heritage, and of the responsibility we carry towards the future we are helping to shape. I am encouraged to see this commitment fully embraced by our Executive Committee, with clear progress in our ESG ambitions and a shared determination to continue delivering on them.

Looking ahead, we remain focused on strengthening an organisation that is ready for the future, building with purpose, acting with responsibility, and staying true to the foundations that have guided us for generations.

Because I believe that a business like ours is not something we own. It is something we hold in trust. It has been shaped by those who came before us, and it will be passed on to those who will follow. It is through this sense of stewardship that growth becomes truly sustainable.

Patrick Chalhoub
Executive Chairman
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- Group Chief Executive Officer message
  
  2025 marked my first year as CEO of Chalhoub Group, a role I have taken on with deep humility, great honour, and a strong sense of responsibility. It has been a year of transition and focus. Stepping into this position means building on a legacy created over decades, while ensuring the Group continues to evolve with clarity, discipline, and a long-term perspective.
  
  As we celebrated 70 years of Chalhoub Group, we were reminded of what defines us: a business built on trust, shaped by long-term partnerships, and driven by a deep understanding of our customers and our region. This legacy is not something we just preserve, it is something we build on, every day.
  
  In 2025, we delivered the best year ever for our Group across our markets, both in terms of top-line growth and bottom-line results. This reflects the strength of our foundations and the discipline of our teams, even in a context that continues to evolve. It also reinforces our ability to stay close to our customers, adapt with speed, and execute with consistency.
  
  This is the mindset behind Vision 2033: Bridging Horizons. It is our mandate for the future, and it is already in motion. We are strengthening our partnerships across the Middle East and Latin America, scaling our own brands as integrated ecosystems, and expanding our role as a brand builder and brand owner. These choices are supported by continued investment in talent and capabilities, operational excellence, and AI.
  
  2025 has been a year of tangible progress. We have accelerated the adoption of AI across the organisation, strengthened our operational backbone, and continued to invest in our brands and platforms, ensuring we remain relevant, agile, and ready for what comes next.
  
  Sustainability is embedded in how we operate and how we grow. It shapes how we manage our value chain, make decisions, and invest for the long term. The introduction of Planet FWD marks an important step in accelerating our environmental agenda, while ensuring alignment between growth and impact.
  
  I must acknowledge that now, a few months into 2026, we find ourselves navigating a different reality. In moments like these, we are reminded of the strength and resilience of our region. We have confidence in the wisdom of its leadership, and in our collective ability to move forward with clarity and responsibility.
  
  Looking ahead, our focus remains clear: to stay close to our customers, to continue building with discipline, and to ensure that what we are shaping today remains strong and relevant for the future.
  
  Michael Chalhoub
  Chief Executive Officer
2025 marked my first year as CEO of Chalhoub Group, a role I have taken on with deep humility, great honour, and a strong sense of responsibility. It has been a year of transition and focus. Stepping into this position means building on a legacy created over decades, while ensuring the Group continues to evolve with clarity, discipline, and a long-term perspective.

As we celebrated 70 years of Chalhoub Group, we were reminded of what defines us: a business built on trust, shaped by long-term partnerships, and driven by a deep understanding of our customers and our region. This legacy is not something we just preserve, it is something we build on, every day.

In 2025, we delivered the best year ever for our Group across our markets, both in terms of top-line growth and bottom-line results. This reflects the strength of our foundations and the discipline of our teams, even in a context that continues to evolve. It also reinforces our ability to stay close to our customers, adapt with speed, and execute with consistency.

This is the mindset behind Vision 2033: Bridging Horizons. It is our mandate for the future, and it is already in motion. We are strengthening our partnerships across the Middle East and Latin America, scaling our own brands as integrated ecosystems, and expanding our role as a brand builder and brand owner. These choices are supported by continued investment in talent and capabilities, operational excellence, and AI.

2025 has been a year of tangible progress. We have accelerated the adoption of AI across the organisation, strengthened our operational backbone, and continued to invest in our brands and platforms, ensuring we remain relevant, agile, and ready for what comes next.

Sustainability is embedded in how we operate and how we grow. It shapes how we manage our value chain, make decisions, and invest for the long term. The introduction of Planet FWD marks an important step in accelerating our environmental agenda, while ensuring alignment between growth and impact.

I must acknowledge that now, a few months into 2026, we find ourselves navigating a different reality. In moments like these, we are reminded of the strength and resilience of our region. We have confidence in the wisdom of its leadership, and in our collective ability to move forward with clarity and responsibility.

Looking ahead, our focus remains clear: to stay close to our customers, to continue building with discipline, and to ensure that what we are shaping today remains strong and relevant for the future.

Michael Chalhoub
Chief Executive Officer
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- Group Chief Sustainability Officer Message
  
  At Chalhoub Group, sustainability is grounded in responsibility, to people, to partners, and to the planet. In a world marked by growing socio-environmental crises, our role as a luxury retailer and partner extends beyond performance to how we uphold human rights, ethical conduct, and environmental stewardship across our value chain.
  
  In 2025, we took a significant step forward in strengthening our human rights approach. Through participation in the UN Global Compact Human Rights Accelerator, a cross-functional task force completed a six-month programme that enabled us to define Chalhoub Group’s five salient human rights risks and establish our first unified human rights due diligence methodology.
  
  This work moves us from commitment to structured action. It provides a clear framework for implementation, with defined KPIs for 2026, including updates to our Partner Code and Human Rights Policy, targeted management training, and the assessment of critical suppliers where heightened risks may exist. This marks an important milestone in strengthening how respect for human rights is reflected in our operations and value chain.
  
  We also advanced our commitment to fair and dignified work through our formal endorsement of the UN Global Compact Forward Faster pledge on living wages. In 2025, we completed a living wage gap assessment in collaboration with the Wage Indicator Foundation, strengthening our understanding of wage adequacy for both team members and workers upstream and downstream in our supply chain.
  
  This work reinforces our ambition to move beyond compliance and contribute to more equitable economic outcomes across the ecosystems in which we operate.
  
  Alongside these efforts, 2025 marked a significant change in how sustainability is embedded into leadership accountability and performance management. Building on the introduction of ESG metrics into the Group Scorecard last year, alongside financial and commercial dimensions, the Group further strengthened the role of sustainability KPIs in 2025.
  
  ESG objectives were elevated within the Group Scorecard, followed up more rigorously at ExCom level, and embedded into the three-year planning and budgeting cycles. By cascading the Group Scorecard across the organisation, we ensured clearer ownership, transparency, and alignment of sustainability objectives at every level of the business.
  
  2025 marked a pivotal evolution in our environmental strategy with the launch of Planet FWD. A comprehensive review of our progress and capabilities led to the redesign of our ESG operating model to strengthen shared accountability for Net Zero targets across the Group.
  
  We introduced a Carbon Model Framework to quantify and prioritise the impact of key decarbonisation levers. This work clarified where acceleration was required and shifted our focus from measurement to the activation of high-impact actions across both operations and value chains.
  
  Planet FWD was therefore introduced as a standalone, Group-wide strategic accelerator, elevating our Planet agenda from operational excellence to full value chain transformation. While our Environmental Taskforces continue to drive progress on energy, waste, and fuel within our direct operations, Planet FWD expands our focus to address the most significant share of our environmental footprint across upstream and downstream activities.
  
  It provides a structured framework to accelerate decarbonisation in line with our SBTi-validated targets, embed circularity as a scalable business practice, and translate biodiversity insights into actionable, nature-positive strategies, with biodiversity and nature integrated to further elevate our ambition.
  
  Central to this approach is the integration of governance, data, and ownership, ensuring that environmental priorities are clearly linked to planning, execution, and accountability across the Group.
  
  This progress is enabled by the commitment of our teams and partners, whose continued engagement strengthens a more responsible and resilient business.
  
  As we look ahead, our focus remains on accelerating priority levers, deepening human rights due diligence, reinforcing ethical governance, and delivering measurable environmental outcomes, including strengthening the sustainability performance of our built environment, while ensuring sustainability continues to drive long-term value for the Group and the communities we serve.
  
  Florence Bulte
  Chief Sustainability Officer
At Chalhoub Group, sustainability is grounded in responsibility, to people, to partners, and to the planet. In a world marked by growing socio-environmental crises, our role as a luxury retailer and partner extends beyond performance to how we uphold human rights, ethical conduct, and environmental stewardship across our value chain.

In 2025, we took a significant step forward in strengthening our human rights approach. Through participation in the UN Global Compact Human Rights Accelerator, a cross-functional task force completed a six-month programme that enabled us to define Chalhoub Group’s five salient human rights risks and establish our first unified human rights due diligence methodology.

This work moves us from commitment to structured action. It provides a clear framework for implementation, with defined KPIs for 2026, including updates to our Partner Code and Human Rights Policy, targeted management training, and the assessment of critical suppliers where heightened risks may exist. This marks an important milestone in strengthening how respect for human rights is reflected in our operations and value chain.

We also advanced our commitment to fair and dignified work through our formal endorsement of the UN Global Compact Forward Faster pledge on living wages. In 2025, we completed a living wage gap assessment in collaboration with the Wage Indicator Foundation, strengthening our understanding of wage adequacy for both team members and workers upstream and downstream in our supply chain.

This work reinforces our ambition to move beyond compliance and contribute to more equitable economic outcomes across the ecosystems in which we operate.

Alongside these efforts, 2025 marked a significant change in how sustainability is embedded into leadership accountability and performance management. Building on the introduction of ESG metrics into the Group Scorecard last year, alongside financial and commercial dimensions, the Group further strengthened the role of sustainability KPIs in 2025.

ESG objectives were elevated within the Group Scorecard, followed up more rigorously at ExCom level, and embedded into the three-year planning and budgeting cycles. By cascading the Group Scorecard across the organisation, we ensured clearer ownership, transparency, and alignment of sustainability objectives at every level of the business.

2025 marked a pivotal evolution in our environmental strategy with the launch of Planet FWD. A comprehensive review of our progress and capabilities led to the redesign of our ESG operating model to strengthen shared accountability for Net Zero targets across the Group.

We introduced a Carbon Model Framework to quantify and prioritise the impact of key decarbonisation levers. This work clarified where acceleration was required and shifted our focus from measurement to the activation of high-impact actions across both operations and value chains.

Planet FWD was therefore introduced as a standalone, Group-wide strategic accelerator, elevating our Planet agenda from operational excellence to full value chain transformation. While our Environmental Taskforces continue to drive progress on energy, waste, and fuel within our direct operations, Planet FWD expands our focus to address the most significant share of our environmental footprint across upstream and downstream activities.

It provides a structured framework to accelerate decarbonisation in line with our SBTi-validated targets, embed circularity as a scalable business practice, and translate biodiversity insights into actionable, nature-positive strategies, with biodiversity and nature integrated to further elevate our ambition.

Central to this approach is the integration of governance, data, and ownership, ensuring that environmental priorities are clearly linked to planning, execution, and accountability across the Group.

This progress is enabled by the commitment of our teams and partners, whose continued engagement strengthens a more responsible and resilient business.

As we look ahead, our focus remains on accelerating priority levers, deepening human rights due diligence, reinforcing ethical governance, and delivering measurable environmental outcomes, including strengthening the sustainability performance of our built environment, while ensuring sustainability continues to drive long-term value for the Group and the communities we serve.

Florence Bulte
Chief Sustainability Officer
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- OUR COMMITMENT TO sustainability
  
  We strive to create a positive impact on our People, our Partners, and our Planet in the 8 countries where we have a direct presence to contribute to national and global agendas to help meet local environmental and societal needs. This is our Chalhoub Impact.
We strive to create a positive impact on our People, our Partners, and our Planet in the 8 countries where we have a direct presence to contribute to national and global agendas to help meet local environmental and societal needs. This is our Chalhoub Impact.
powering A sustainable future
- Community Engagement & philanthropy
  
  At Chalhoub Group, our commitment to making a tangible difference goes beyond business success. Through our Impact Leaders Programme, we have cultivated a culture where workforces are empowered to take ownership of sustainability goals and drive meaningful change in their communities.
OUR SUSTAINABILITY journey