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 Empire's New Clothes" (The New Yorker)
"High fashion is still the province of a few designers who earned their cachet in the West, and in most cases trained there."
"China February Exports Post Worst Fall Since May 2009" (Reuters)
"Exports fell 25.4 percent from a year earlier, twice as much as markets had feared as demand skidded in all of China's major markets, while imports slumped 13.8 percent, the 16th straight month of decline."
"Chinese Tourists Buy Uniqlo, Coach Plus Makeup, Vitamins and Milk Powder" (CNBC)
"'High street' brands also remain popular but retailers don't benefit equally, other research found, with some unexpected brands carrying particular cache with mainland buyers."
"Pity the Personal Shopper as Snack Packs Replace Gucci Bags" (The Financial Times)
"Taxes and prices have been tweaked in China, enabling many people to procure luxury brands at home."
"China's Alibaba Says Agrees $3 Billion Five-Year Loan" (Reuters)
"China's Alibaba Group Holding Ltd. said it has signed a deal for a $3 billion five-year loan, which will help the e-commerce giant as it snaps up stakes in companies within China and overseas."
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.