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.
"Dior in First With Luxury WeChat Handbags" (China Daily)
"France's Christian Dior has become the first luxury brand to sell top-end bags on WeChat, the most popular messaging and social network in China, offering its iconic Lady Dior bag on the platform."
"China's Tech Trailblazers" (The Economist)
"The Western caricature of Chinese internet firms needs a reboot."
"Luxury's Pain as Others Gain in Hong Kong and China" (The Wall Street Journal)
"Consumers are simply not as interested in spending on luxury goods as they once were."
"Jack Ma Is Opening His Wallet to Europe But Not to Europeans" (Bloomberg)
"China's biggest third-party payments platform Alipay, is seeking to add extras to its mobile wallet app for Chinese travellers in France, the U.K., Germany and Italy, though it has no plans to offer its services to consumers who aren't from China."
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.