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BoF Daily Digest | China’s retail up, Li & Fung buys Amies, Boutiques squeezed, Fashion & Social networks
China Retail Sales Rise 22%, Help to Counter Slowdown (Bloomberg)
Despite the global economic slowdown, China’s retail sales are up 22% in October.
Hardy Amies bought by Li & Fung (Drapers)
Fung Capital Europe, the investment arm of Li & Fung, has bought Hardy Amies.
Boutiques Get Squeezed (WSJ)
Independent boutiques “are among the retail industry’s hardest hit” in this economic crisis.
Fashion’s New Circuit: Social Networks (WWD)
European luxury goods firms are using online marketing to “entice a new breed of customer, better leverage their ad budgets and ultimately sell more products.”
A couple shopping in Shanghai, photo courtesy of Bloomberg.
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