The China Edit | Homegrown Designers, Richemont Sales Steady, Balenciaga

The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.

Chinese couturier Guo Pei at Asian Couture Week in Singapore, October 2013 | Source: Asian Couture Week

The Growing Allure of Designed-in-China Fashions (Businessweek)
“While French and Italian designers were once synonymous with sophisticated taste, China’s first lady, Peng Liyuan, has recently turned heads by wearing designs from another Guangzhou-based label, Exception, while accompanying her husband on overseas diplomatic trips. Dresses and handbags she’s worn publicly have quickly become sought-after items in China.”

Richemont Reports Unchanged Earnings on Chinese Market Slowdown (Bloomberg)
“Cie. Financiere Richemont SA, the maker of Cartier jewelry and Montblanc pens, reported unchanged full-year earnings, capping three years of growth, after China cracked down on bribery and extravagance among government officials.”

Protests Cause Li & Fung Week-Long Production Delays in Vietnam (Bloomberg)
“Li & Fung Ltd., the world’s biggest provider of clothes and toys to retailers, said production at most of its suppliers’ factories in Vietnam may be delayed for a week because of anti-China protests. The Southeast Asian country accounts for about 7 percent of Li & Fung’s supply base, company executives said today after a shareholders meeting in Hong Kong.”

Fighting Fakes: Ahead of US IPO, Alibaba Takes a Tougher Line (Reuters)
“In its IPO filing last week, Alibaba Group Holding Ltd said the perception that its sites are cluttered with counterfeit items could hurt its ability to win over customers, investors and U.S. retail partners. The group, founded by entrepreneur Jack Ma 15 years ago, has stepped up efforts to clean house over recent years.”

Balenciaga Unveils China-Exclusive Looks in Beijing (The Cut)
Alexander Wang took to the Chinese capital for a Balenciaga show that included the spring 2014 looks, plus a ‘China Edition’ consisting of 13 custom looks that were designed exclusively for the Chinese market.”