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.
"Homegrown Asian Labels Challenge Western Imports" (Reuters)
"Fashion brands from South Korea, China and Japan are becoming serious rivals of their Western peers as Asian consumers become increasingly confident in their own style and take pride in buying home-grown labels."
"Valentino Cuts Prices in Asia to Boost Local Sales" (Reuters)
"Italian fashion house Valentino will cut its prices in Asia to bring them into line with European prices."
"Hong Kong Luxury Migrating to Macau Along With Chinese Tourists" (Bloomberg)
"Macau, home to the world's biggest gambling center, is trying to diversify its image by welcoming luxury-brand shoppers."
"Stamping It Out" (The Economist)
"As China grew richer and more innovative, people assumed it would counterfeit less. Think again."
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"Chanel Winning Fight Against Luxury Grey Market, Says Bruno Pavlovsky" (Reuters)
"Chanel said its efforts to curb the grey market have been successful and are helping boost revenue in China despite weaker overall demand for luxury goods."
"Gucci Is Taking Its Fight Against Counterfeiting to the Next Frontier: The Afterlife" (Quartz)
"The Italian luxury label is warning Hong Kong shopkeepers to stop selling paper lookalikes of its bags, which people burn at funerals and include in the annual celebration of Qingming Jie to accompany their loved ones in the afterlife."
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.