The Savigny Luxury Index fell sharply over the month, losing 4.2 percent versus a flat MSCI World Index, as the industry suffers from a general slowdown and a red alert situation in Hong Kong.
Michael Kors Holdings Ltd., a maker of designer clothing and handbags, will hold a secondary offering of 11.6 million shares to let the company’s biggest shareholder sell its stake.
The China Edit is a weekly curation of the most important must-read fashion business news and analysis from and about the world’s largest luxury market.
BEIJING, China — For the past few years, all eyes have been on China. Captivated by the country’s rapidly expanding economy, large population and seemingly insatiable appetite for luxury goods, global fashion brands have focused their efforts on the Middle Kingdom, opening glittering stores in megacities like Beijing and Shanghai, as well as fast growing middleweight cities like Guangzhou, Hangzhou, Shenzhen and Tianjin, and