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.
"Hugo Boss Takes Full Control of Stores in China and Macau" (Reuters)
"German fashion house Hugo Boss is taking full control of its store network in China and Macau as it seeks to improve the way its brand is presented, a move that mirrors a broader trend by luxury goods groups in emerging markets."
"Value Retail Says Luxury Brands Need to Upgrade Stores" (Bloomberg)
"Luxury-goods companies are wrong to treat discount outlets as 'dumping grounds' for surplus stock and risk alienating shoppers by doing so, according to Value Retail Plc, which operates designer malls across western Europe."
"After Rising to Dominance at Home, Alibaba Eyes E-Commerce Opportunities Abroad" (Caixin)
"Alibaba Group Holding Ltd., China's largest e-commerce company, launched an invitation-only online shopping marketplace called 11main.com in the United States on June 11, its latest step toward extending its overseas businesses."
"In China, Women Graduates Spurn Cap and Gown for Wedding Dresses" (The Wall Street Journal)
"On an overcast June day, 20 women in white gowns stood in a row on a grassy field. They had spent the morning fussing with one another's hair and makeup, and now, for the big moment, smiled into the camera. But this was a graduation celebration, not a wedding."
"China Ends Animal Testing Rule for Some Cosmetics" (The New York Times)
"China has removed a controversial animal test requirement for some types of cosmetics, a move praised by animal rights advocates who hope it signals an end to a practice widely scorned elsewhere. Starting Monday, the China Food and Drug Administration will stop requiring animal tests on so-called ordinary cosmetics, including shampoos and certain skin-care products."
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.