The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
"Looking for Asia's Breakthrough"
"So far, Asian-born designers have pierced the market mainly in the United States. The success stories — Phillip Lim and Alexander Wang, for example — are the American-born designers who are building brands in countries where their parents or grandparents might have been farmers or factory workers. When will the breakthrough come for Asia — when will its designers who are training now make homegrown high fashion? Six case histories tell the stories."
[ "On China: Fashion & Style"Opens in new window ]
"If you're Chinese, and you have been exposed to Western design and luxury goods, you do become curious as to what Chinese designers are doing, not necessarily always in terms of luxury, but in terms of fashion, in terms of industrial design. There is that natural curiosity because, I think for most Chinese there is a great eagerness to rediscover Chinese culture in many ways, in food, in fashion, in lifestyle. Because they have experienced all the wonders that Europeans and Americans have imported into China."
"China's Smaller Cities Thirst for the Luxe Life"
ADVERTISEMENT
"According to Starcom MediaVest Group, a global marketing and media company, more than a third of China’s luxury goods spending already comes from outside Beijing, Shanghai and Guangzhou. And while it expects consumer spending on luxury items in first-tier cities will continue to increase about 8 percent annually, that of consumers in second- and third-tier cities is expected to increase at almost double that rate. 'China’s tier-two cities are becoming extremely important,' said Max Magni, a principal at McKinsey in Hong Kong."
"Shangpin Evolves Online Model in China"
"China's online shopping mall, Shangpin.com, has evolved its business model to include digital versions of shops-in-shop called 'e-flagships.' Lanvin is the first brand hosted on the Shangpin platform, with men's and women's apparel, accessories and footwear offerings. Next up is La Perla, according to M. Claire Chung, Shangpin's vice president for global business development."
"China to Take America's Online-Shopping Crown"
"Sometime in early 2014, China will lay claim to leadership in yet another key global market: e-commerce. Last year saw Chinese shoppers spend 1.3 trillion yuan ($213 billion) online, just slightly less than the $225 billion tally in the U.S. The Chinese online retailing market has grown at a scorching 71 percent compound annual growth rate since 2009, about five times as fast as its American counterpart, according to a forecast by Bain & Co."
The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.
While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.