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.
"Average Chinese Tourist Spending is Declining, But It's Not All Bad News" (Jing Daily)
"Whereas Hong Kong has seen both average spending and the number of tourists from China decline, most destinations continue seeing their Chinese arrivals surge amid declining average spending."
"Alibaba Expands Presence in Australia, New Zealand" (Reuters)
"Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region."
"China's Central Bank Starts Year of the Rooster with 'Groundbreaking' Broad Rise in Money Market Rates" (South China Morning Post)
"Move sends clear signal that Beijing is tightening its monetary policy in the face of pressures that are threatening to weaken the yuan."
"Alibaba Said to Lead $200 Million Funding for Paytm's E-Commerce Unit" (Bloomberg)
"A valuation of over $1.1 billion makes the spinoff India's newest unicorn, and its founder and chief executive officer Vijay Shekhar Sharma a unicorn-founder twice over."
"How Chinese Mobile Payments Are Quietly Conquering the World" (Jing Daily)
"What was once a strictly domestic affair has expanded abroad, with China's mobile payment providers now battling for Chinese tourists' mobile payments on the global stage."
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
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.