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's Stock Market Tumble Is Taking Luxury Fashion Stocks with It" (Quartz)
"The luxury sector is particularly exposed to catching a cold when China sneezes. Salvatore Ferragamo, Gucci, Hermès, Burberry, and Prada all get more than 30% of their revenue from Chinese shoppers."
"China's Yuan Cut a Bad Omen for France's Luxury Sector" (Yahoo News)
"China's triple yuan devaluation could hit France's lucrative luxury sector, which has already been impacted by Beijing's tough anti-corruption drive against spendthrift officials, analysts say."
"Alibaba CEO Urges Workers to Ignore Share Plunge, Stay Focused" (Bloomberg)
"Alibaba Group Holding Ltd.'s chief executive officer exhorted employees to ignore plunging stock markets after the e-commerce giant's shares fell below their initial public offering price for the first time."
"Why Millions in China Downloaded L'Oreal's Makeup Genius App" (AdAge)
"China has been a massive market for the app, bringing 4.7 million of its total 14 million downloads. That's partly because of the size of the country's internet population."
"A Hundred Apps Bloom in China as Millions Bank on Their Phones" (Bloomberg)
"Financial innovation is bubbling up around the globe, but China is where digital banking, investing, and lending have gone mainstream."
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.