MILAN, Italy — Prada SpA’s first-half sales growth fell to a third of last year’s as China luxury demand cooled amid a slowdown in the world’s second-largest economy.
The Philippines has long been overshadowed by its larger neighbours and underestimated by international fashion brands. Now the country is reporting faster economic growth than China. BoF reports.
SINGAPORE — Facing each other across Singapore’s Orchard Road shopping belt, the malls owned by Singapore Press Holdings Ltd. and Overseas Union Enterprise Ltd. have competed for shoppers. Now, they will compete for investors.
BEIJING, China —Chinese landlords are forgoing rent and paying to outfit stores for mass-market fashion brands including Zara and H&M, a bid to blunt the impact of a boom in shopping-mall construction that threatens to push up vacancies.
Sales of luxury goods are slowing and, given the uncertain outlook, investors are taking profits, reports Pierre Mallevays, founder and managing partner of Savigny Partners.