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.
"The Digital Asia Effect" (The Business of Fashion)
"The worlds of fashion and entertainment are getting even more tangled as a new gang of digitally-enabled front row fixtures from Korea, Japan and China redefine cool and how it is sold to a global audience."
"'The Good Old Days Are Gone and They Won't Return'" (The Financial Times)
"For years the script was simple. Luxury brands — primarily European, with the occasional American among them — wishing to increase profits headed east to China."
"Hong Kong Greets China's Luxury Brands" (Bloomberg)
"As Kering SA's Gucci, LVMH and Coach Inc. bargain for lower rents or plan store closures amid a decline in mainland tourists, China's own luxury chains are filling the gaps, boosting their image and tapping international buyers."
"Luxury Groups Harness the Power of Social Media" (The Financial Times)
"A growing number of luxury groups are harnessing the power of social media to connect with Chinese consumers."
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"Disney in China to Aid Casual-Clothes Sales, Uniqlo Chief Says" (Bloomberg)
"Fast Retailing Co. Chairman Tadashi Yanai said Walt Disney Co.'s new park in Shanghai will help his Uniqlo casual wear brand expand in China."
"Ferragamo CEO Sticks to Core Profit Guidance Despite China Slowdown" (Reuters)
"The chief executive of Italian luxury goods maker Salvatore Ferragamo stuck on Sunday to last month's profit guidance despite slowing growth in Asia, its biggest market."
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.