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.
"London Fashion Stores Set for Double Lift" (The Financial Times)
"London is poised for a double boost over the next few days, as London Fashion Week coincides with the lunar new year holiday for the first time."
"Prada Full-Year Sales Drop as Tourist Spending Falls" (Bloomberg) "Prada SpA reported full-year sales that trailed estimates as fewer Chinese shoppers splurged on $2,950 leather handbags and other luxury products."
"Uniqlo Owner Cuts Hours at China Factories After Criticism" (Bloomberg) "Fast Retailing Co., Asia's biggest clothing chain, said two of its China-based suppliers are reducing working hours following a report that criticized the factories making its Uniqlo garments for labor abuses."
“Should Luxury Retailers Give Up On Hong Kong?
While tourist locations across Asia, Europe, and North America have been going all out to attract Chinese travelers for the 2015 Lunar New Year holiday, mainland shoppers have received a much chillier message in Hong Kong."
"China's Economy to Grow About 7 Percent this Year" (Reuters)
"China's economic growth could slow to between 6.9 percent and 7.1 percent this year as the country fends off deflation risks, the head of the Chinese central bank's research bureau said."
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.
Its flagship brand struggled following the departure of its creative director but better growth was seen at other labels.
After years of outsized growth in prestige cosmetics, consumers have pulled back on the typically recession-proof category.
Last year’s harsh pandemic restrictions and recent raids on foreign firms have made it harder for Western fashion companies to persuade top international talent to move to the country.