Revenue from US customers like Target helped lift Li & Fung’s first-half profit by 16 percent.
Stuck in a ‘catch-22’ in its relationship with luxury brands, Chinese e-commerce juggernaut Alibaba should take a page from Google, maximising revenue in the short term, while buying critical time to build enduring relationships with Western brands, argue Brian Buchwald and Joshua Neckes.
Prada SpA, the Milan-based luxury handbag maker, posted the slowest half-yearly sales growth in three years as demand weakens in some Asian countries and in Europe amid economic and political uncertainties.
Singapore’s retailers, already facing growing regional competition, are under the biggest pressure since the Asian financial crisis.
As consumption slows and global pricing differences become more transparent, strategies that price luxury goods significantly higher in China are unsustainable.
The outlook for the luxury goods industry darkened on Friday as poor results from industry leader LVMH showed how the strong euro and political protests in Hong Kong were major factors curbing spending by Chinese and Russian customers.
As costs rise in Asia, once famine-plagued Ethiopia is emerging as a production center for labour-intensive products from shoes to T-shirts to handbags.
SHANGHAI, China — Alibaba's dominance of online retail in China faces its biggest-ever challenge as the firm founded by Jack Ma in a one-room apartment 15 years ago lines up a U.S. initial public offering that could value the firm at around $140 billion.
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MILAN, Italy — Italian luxury leather goods maker Salvatore Ferragamo expects group results to improve in the second half of 2014 from the first six months on the back of strong demand in China and in global travel retail, its chief executive said on Sunday.