Three billionaires from China’s property and Internet industries are forming an online shopping venture to challenge Alibaba Group Holding Ltd. as it heads toward what may be the biggest initial offering in the U.S.
While leveraging Key Opinion Leaders (‘KOLs’) in China can be a useful marketing tool, luxury brands must do their homework if they expect to see real results, argues Avery Booker.
Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
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.