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.
"Brexit Vote Sends Tourists Flocking to London to Purchase Luxury Goods" (Bloomberg)
"A slumping pound is a much-needed shot in the arm for UK luxury companies as the Chinese are the biggest buyers of high-end goods and make most of their purchases overseas."
"Alibaba Has a New Online System to Remove Fake Goods From Its Site" (Fortune)
"Chinese e-commerce giant Alibaba Group Holding on Friday went public with a new drive to display its determination to stamp out fake goods, urging brands to help its anti-piracy campaign rather than trade rebukes on the issue."
"China's JD.com Says Brexit Could Boost Imports of British Goods" (Reuters)
"JD.com has said that Britain leaving the European Union could make British goods cheaper to buy, but it was premature to say if the move would significantly impact the group's business."
"Adidas Extends China Sports Push in Agreement With Billionaire" (Bloomberg)
"Adidas signed an agreement with billionaire Wang Jianlin's Dalian Wanda Group to help develop soccer and basketball in China, as the German company seeks to capitalise on increasing interest in sports and fitness in the world's most populous nation."
"Don't Trust Chinese Economic Data? A New Source Is Coming" (CNN Money)
"Chinese Internet giant Baidu is diving into the vast amount of data it collects in an attempt to give the world a clearer picture of the world's second-largest economy."
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.