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.
"Jack Ma Welcomes US Scrutiny of Alibaba" (The Financial Times)
"Jack Ma has put a brave face on adversity, saying that a US class action lawsuit against the Chinese e-commerce group he founded would help western countries 'understand Alibaba's business better.'"
"Swimming Against the Hong Kong Tide" (The Business of Fashion)
"Five years since Konzepp helped transform the sleepy Sheung Wan district into a hipster zone, owner Geoff Tsui is crossing the harbour to the buzzing quarter of Tsim Sha Tsui with his fourth niche boutique, located in Hong Kong's K11 'art mall'."
"Apple Ranks As China's Most Desirable Luxury Brand" (The Wall Street Journal)
"In China, iPhones not only outsold all other smartphones in the fourth quarter, it also beat Louis Vuitton and Hermès to become the most preferred gift choice among the country's richest this year."
"Chinese Millennials Have Money, Will Travel" (The Financial Times)
"While conventional stereotypes suggest that Chinese tourists shopping abroad are fixated on prestige Western luxury brands, there are signs of change among the younger generation."
"It's a Good Thing Taobao's Tussle with Regulator Spilled into Daylight" (Caixin)
"The bickering between the e-sales website and commerce officials shows just how much work the government has left in fight against counterfeit goods."
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
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.