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
Laopu Gold: China’s Homegrown Jewellery Success Story
While European and American luxury brand sales have fallen in China, Laopu Gold Co.’s sales have doubled in each of the past two years, underscoring a shift towards homegrown brands.
Luxury Brands Bet on Experiential Retail to Revive China Sales
Louis Vuitton’s latest Shanghai store is a 30-metre-high, ship-shaped experience called ‘The Louis.’
Fantastic Man Magazine Launches in China
Former Yves Saint Laurent creative director Stefano Pilati will join Fantastic Man China as editor at large.
China’s Extended 618 Shopping Festival Fails to Stir Excitement
E-tailers JD.com and Tmall-owner Alibaba have not disclosed the event’s overall sales figures for years, but analysts warn that a recent pause in some government subsidy programmes could weigh on consumption this month.
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In Shanghai, Fresh Energy Despite the Downturn
From Samuel Guì Yang to Ao Yes, Shanghai Fashion Week’s best shows were those with a modern take on Chinese dressing, reports Angelo Flaccavento.
L’Oréal Aiming for 5% Growth in China This Year
North Asia chief executive Vincent Boinay said on Monday that the company sees green shoots in the market, and that the target is in line with the country's overall GDP growth forecast.
Global Markets
China Targets PVH Corp. in Retaliation Against US Tariffs
China has placed the parent of Calvin Klein and Tommy Hilfiger and another American company to a so-called blacklist of entities, among a series of retaliatory actions after new tariffs ordered by US President Donald Trump took effect.
China Targets PVH Corp. in Retaliation Against US Tariffs
China has placed the parent of Calvin Klein and Tommy Hilfiger and another American company to a so-called blacklist of entities, among a series of retaliatory actions after new tariffs ordered by US President Donald Trump took effect.
China’s Luxury Sales Expected to Remain Flat in 2025, Report Says
The country's luxury market declined by 18 to 20 percent in 2024 but should move out of negative territory this year, according to consultancy Bain and Company’s latest report.
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Fosun’s Jewellery Unit Shanghai Yuyuan Considers Second Listing in Hong Kong
The Shanghai-listed company, which shares an owner with Lanvin Group, may seek to raise more than $300 million in an offering, Bloomberg reported citing unnamed sources.
Chinese Cosmetics Brand Mao Geping Raises $300 Million in IPO
Shares in the premium cosmetics brand soared as much as 87 percent in a frothy debut on Hong Kong’s stock exchange on Tuesday.
P&G Doubles Down on China’s TikTok to Reverse Sales Slump
Whilst reworking its marketing, influencer partnerships and product assortment, the Ohio-based conglomerate has been heavily investing in Chinese shopping app Douyin.
Moncler Stages Mega-Scale ‘Genius’ Event in Shanghai
The Italian skiwear specialist showcased its latest round of celebrity and designer collaborations in a series of pavilions in Shanghai on Saturday as it aims to shrug off luxury sector malaise.
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.