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.
[ “China’s Fashion Matchmaker” (The New York Times T) ]
"Although United States-based designers of Chinese descent, like Wu, Lim and Alexander Wang, have already succeeded in both worlds, the Chinese fashion night suggests that getting less cosmopolitan Chinese designers recognized in the West will tax Chua's considerable talents. For both sides of the cultural divide, Chua is the indispensable man: the Virgil who will help them avoid the pitfalls of the inferno and point them toward commercial heaven. This unique role puts Chua at the leading edge of the future Chinese economy."
“China Brands Follow Dior To Paris Seeking European Glitz” (Bloomberg)
"A fondness among Chinese shoppers for Western labels has long helped companies from Nike Inc. to General Motors Co. outsell Asian rivals in the world's most populous nation. Now, local companies are seeking to give their brands — and sales — some extra oomph at home by setting up shop in the world's fashion hotspots and placing products in Hollywood blockbusters. 'Chinese consumption only started taking off about seven to eight years ago,' said Stephen Sun, chief executive officer for Shanghai Woo, which sells luxury scarves and shawls priced between 2,000 to 5,000 yuan at its 37 mainland stores. 'How do customers know you are a credible brand? They see you selling near established brands in Europe.'"
“Asian Consortium In Exclusive Talks To Buy Italy’s Bruno Magli” (Reuters)
"Italian luxury leather goods brand Bruno Magli said on Tuesday its hedge fund owner Fortelus has begun exclusive talks to sell the entire company to a consortium of Asian investors. Bruno Magli said London-based Fortelus is expected to close the deal with a group of investors including South Korean retailer E-Land and Hong Kong-based private equity firm CDIB Capital in November."
“From IFC to iAPM, Shanghai Clones Hong Kong Malls” (South China Morning Post)
"Already a rival to Hong Kong for clout as a global finance centre, Shanghai is stepping up its offerings as a shopping capital, too. Carbon copies of Hong Kong shopping landmarks have popped up in the city, replicating Hong Kong's retail scene from the names right down to the design of the buildings. Gleaming new mall iAPM, which houses well-known Hong Kong brand city'super and has a Pure Yoga studio, opened in August. The Sun Hung Kai Properties development is anchored by a two-storey Prada store and sister brand Miu Miu, and more than a dozen other luxury brands."
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.