Giorgio Armani Posts 24% Profit Drop in Tough 2024, Steps Up Investments
The Milanese group was hit by declining revenues and a slight increase in operating costs but said it retained a long-term approach amid a sharp downturn in luxury demand.
China
On-the-ground intelligence and insights from the world’s largest fashion market.
Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall
The once-promising Chinese travel retail market is showing little signs of recovery, causing global beauty giants to reevaluate their strategies and reduce promotions.
Why China’s Gold Jewellers Are the Envy of Global Brands
With soaring profits and rapidly expanding store networks, ‘heritage-gold’ jewellery brands like Laopu Gold and Lao Feng Xiang are red-hot in China’s otherwise tepid luxury market.
Shein’s Tariff-Busting Shift Hits Home in Chinese Factory Hub
Local factories report falling orders, claiming the ultra-fast-fashion giant is diversifying production to Vietnam.
China
Case Study | The Playbook for Succeeding in China’s New Reality
Once fashion’s most reliable growth engine, the Chinese market is shifting as consumer spending cools and shoppers with more choice than ever gravitate toward savvy domestic brands. Opportunities for international players are still plentiful, but the old formula for succeeding in China is no longer relevant. Brands need a new game plan to stand out.
Case Study | The Playbook for Succeeding in China’s New Reality
Once fashion’s most reliable growth engine, the Chinese market is shifting as consumer spending cools and shoppers with more choice than ever gravitate toward savvy domestic brands. Opportunities for international players are still plentiful, but the old formula for succeeding in China is no longer relevant. Brands need a new game plan to stand out.
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Instagram-Like Xiaohongshu Makes Inroads with E-Commerce Sales
The platform has long been one of China’s most important marketing tools, but until now has struggled to become a sales engine for brands.
How Chinese Designers Are Building Global Businesses
A new generation of Chinese fashion designers are extending their international footprints beyond western markets, tapping sourcing hubs in India and Turkey and retailers from Dubai to Mexico.
Op-Ed | What’s Behind the Slump in China’s Luxury Sales?
The key question is whether the drop is due to a weakening economy or a shift in consumer perception towards luxury items as mere commodities.
Chinese Swap Handbags for Trips as ‘Experience Economy’ Booms
Amid China’s market struggles, a broader trend of shifting consumption towards services and unique experiences is emerging, despite ongoing challenges like modest income growth and declining home prices.
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How China’s Fashion Industry Is Leveraging the Olympics
From sportswear giants Anta and Peak to cosmetic brands Maogeping and Chando, Chinese companies placed their marketing bets on team uniforms, athlete endorsements and themed products.
Nike Bets Its China Comeback on Michael Jordan’s New $1,000 High-Tops
The sportswear giant is betting on Jordan brand’s latest ‘World of Flight’ retail concept in Beijing to kickstart sales in the region, amid increasing competition from home grown players Anta and Li-Ning.
China
Luxury Labels Slash Prices 50% to Lure Wary Chinese Shoppers
Starting this month, Chinese shoppers can snap up a small beige, crocodile-patterned version of Balenciaga’s iconic Hourglass handbag for $1,947, or 35 percent off on the mainland’s dominant e-commerce platform, Alibaba Group Holding Ltd.’s Tmall.
Luxury Labels Slash Prices 50% to Lure Wary Chinese Shoppers
Starting this month, Chinese shoppers can snap up a small beige, crocodile-patterned version of Balenciaga’s iconic Hourglass handbag for $1,947, or 35 percent off on the mainland’s dominant e-commerce platform, Alibaba Group Holding Ltd.’s Tmall.
China
China Cracks Down on Social Media Influencers Flaunting Lavish Lifestyles
The Cyberspace Administration of China is aiming to discourage wealth displays from the likes of Douyin star Wang Hongquanxing, as well as punishing influencers for sharing misinformation according to reports in the FT and BBC.
China Cracks Down on Social Media Influencers Flaunting Lavish Lifestyles
The Cyberspace Administration of China is aiming to discourage wealth displays from the likes of Douyin star Wang Hongquanxing, as well as punishing influencers for sharing misinformation according to reports in the FT and BBC.
The News in Brief
E-Commerce Firm Jumia Draws Takeover Interest From Axian
A deal between the biggest e-commerce platform in Africa and telecommunications company Axian would help both company expand across the continent.
Billionaire H&M Founding Family Speeds Up Share Purchases
The Persson family and its related companies owned over 60 percent of H&M's shares at the end of May, prompting speculation the company may return to private ownership.
Kate Moss’ Cosmoss Enters Liquidation
The prestige skincare and wellness line founded by the British supermodel entered liquidation proceedings after failing to file its company accounts.
Vivienne Westwood and Rei Kawakubo Paired for Blockbuster Exhibition
The two era-defining avant-garde fashion designers will be the subject of a major exhibition at the National Gallery of Victoria in Australia.
Exclusive: Smythson of Bond Street Acquired by Oakley Capital
The British luxury lifestyle brand, known for its leather handbags, notebooks, homeware and other accessories, will look to accelerate its growth and expand internationally.
L’Oréal to Acquire Hair Care Brand Color Wow
Hair care was the second fastest-growing category at L’Oréal last year after fragrances.
Bold Management Acquires Influencer Agency The Digital Prototype
The deal bolsters Bold’s talent management capabilities in France.