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.
"Louis Vuitton Is Now a 'Brand for Secretaries' in China" (Business Insider) "China's elite are turning their noses up at Louis Vuitton, as the brand explodes in popularity with the middle class."
"Marks and Spencer Asia Head Quits Amid China Revamp" (The Financial Times) "Marks and Spencer's head of Asia has quit just as the high street retailer sets out plans to expand in China."
"Alibaba and Amazon Face Rivals in Cross-border E-commerce Race" (Reuters) "A Chinese government push to promote e-commerce has created a host of online retail rivals for Alibaba Group Holding Ltd and Amazon.com Inc catering to shoppers' fears about the quality and safety of local everyday goods."
"For Chinese Retailers, the Year of the Sheep Has So Far Been Baaaa Humbug" (The Wall Street Journal) "Growth in spending on tourism, shopping and transport over China's weeklong Lunar New Year holiday decelerated compared with past years."
"Alibaba's Jack Ma Says Company Complied With Taiwan Regulations" (Bloomberg) "Alibaba Group Holding Ltd. Chairman Jack Ma, whose company was told to leave Taiwan within six months over alleged investment violations, said the e-commerce giant followed local laws when it entered the market."
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.