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.
PARIS, France - Just a few weeks ago I met Qiu Hao in Shanghai I am thrilled to announce that tonight in Paris he has been awarded the Woolmark Prize, worth €100,000.
The award is is famous for anointing both Karl Lagerfeld and Yves Saint Laurent in 1954 and this year it has been resurrected by Australian Wool Innovation, which recently acquired the Woolmark brand. Said Mr Craig Welsh, CEO of AWI, "We see the Woolmark Prize as an opportunity to support the future of design and at the same time, showcase to the world Australian Merino wool at its best and most innovative."
For those of you who missed it, please check out our feature on Qiu Hao and his fellow Shanghainese designer Helen Lee, and congratulations to Qiu. Well done.
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.