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.
"China Devalues Its Currency as Economic Slowdown Raises Concerns" (The New York Times)
"As China contends with an economic slowdown and a stock market slump, the authorities on Tuesday sharply devalued the country's currency."
"Prada First-Half Sales Miss Estimates as China's Slump Persists" (Bloomberg)
"Prada SpA reported first-half revenue that missed analysts' estimates as demand for its handbags and wallets in Hong Kong and Macau continued to wane."
"Gucci Spars With Hong Kong Landlords as Chinese Demand Slumps" (Bloomberg)
"Landlords on Hong Kong's Russell Street a year ago could boast the highest retail rents in the world. Now they are adjusting to a new reality."
"How Western Fashion Brands Are Using Social Media in China" (Fashionista)
"In mainland China, one's activity on platforms like Sina Weibo and WeChat can mean the difference between having a booming Chinese business and having none at all."
"Alibaba Inks Exclusive Tie-Ups with Global Brands to Sell in China" (Reuters)
"Alibaba Group Holding Ltd has signed exclusive partnerships with more than 20 apparel brands including Zara and Timberland."
"Alibaba Hires Former Goldman Banker Evans as President" (Reuters)
"Alibaba Group Holding Ltd has hired Michael Evans to oversee the e-commerce company's international expansion, a top priority as the firm looks beyond China to sustain its heady growth rates."
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.
While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.