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.
"Welcome to China's Trillion Club. Now for the Hard Part" (Bloomberg)
"Thrown together, economic growth in the continent-sized economy of China is grinding down to its slowest pace in a quarter of a century."
"The Rise of China's Shopping Villages" (South China Morning Post)
"Shanghai Village opens near Disneyland, as China's shoppers wooed by upmarket outlet destinations close to home."
"TAG Heuer Pushing Brand in China, as Rivals Scale Back" (Reuters)
"The head of luxury group LVMH's Swiss watchmaking business said on Saturday the company is pushing its TAG Heuer brand in the Chinese market, as rivals scale back their investments due to weaker demand."
"Lancôme Shuts Main Hong Kong Stores as Protesters Accuse It of Bowing to China" (Reuters)
"Lancôme has shut main stores in Hong Kong as protesters gathered accusing it of bowing to China by cancelling a concert featuring a pro-democracy singer."
"Alibaba Expects to Nearly Double Transactions Volume by 2020" (Reuters)
"Alibaba said it expects to record 6 trillion yuan (over $900 billion) in gross merchandise volume in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016."
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.