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.
Mainland shoppers have flocked to local tourism hubs like Macau and Hainan over Chinese New Year and are expected to visit Asian destinations like Thailand and Singapore before returning in droves to European fashion capitals later this year.
Beijing’s Covid-19 policy shift will give the sector a boost in 2023 but a surge in infections and sluggish economic growth could dampen the recovery after an uplift from Chinese New Year.
This week, China rolled back some strict zero-Covid measures, opening a road to recovery for luxury and retail. But the journey is likely to be long and bumpy, experts warn.
Despite disappointing Singles Day sales results, harsh Zero Covid restrictions and supply chain woes, international beauty conglomerates continue to see China as a growth engine.