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.
"589 Million Chinese Tourists Will Spend $72 Billion in Just Seven Days Celebrating 'Golden Week'" (Quartz)
"Nearly 600 million Chinese tourists will flock to local tourist spots or fly overseas during the country's 67th National Day holiday, a seven-day break nicknamed 'Golden Week.'"
"On the Floor With the Daigou, China's Overseas Shoppers" (The Financial Times)
"'The price difference is still too great. Everyone I know sends items back home.'"
"Cosmetics Tax Cut Is Skin Deep" (Bloomberg)
"Now that cosmetics will be cheaper in Beijing and Shanghai, there's less reason to travel abroad, especially if the yuan, down almost 9 percent against the won this year, continues its slide."
"Chinese Tourists in Asia are Spending Less But Traveling More" (Jing Daily)
"China's growing middle class is venturing to destinations beyond China—and is lowering the average affluence of Chinese travelers in doing so."
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"Singapore's 'Golden Week' Courts China Tourists as Retail Falls" (Bloomberg)
"Brands from Estee Lauder to Nike to Samsonite are offering discounts in the city-state starting Friday, coinciding with China's National Day public holidays."
"Why Guo Pei Is China's Best Export" (New York Observer)
"Before, she would present collections once every two years. But, in the stringent rules of the Chambre de Syndicale de la haute couture she must create two collections a year."
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.