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.
"Chasing China's High-End Lingerie Market" (Reuters)
"High-end lingerie sales are outpacing China's generally downbeat luxury market, and heating up competition between international brands and local rivals looking to go upmarket."
"Is China Stealing Jobs? It May Be Losing Them, Instead" (The New York Times)
"Labor costs in China are now significantly higher than in many other emerging economies. Factory workers in Vietnam earn less than half the salary of a Chinese worker, while those in Bangladesh get paid under a quarter as much."
"Miss Sixty's Chinese Owner Said to Plan IPO at $5 Billion Value" (Bloomberg)
"Chinese fashion house Trendy International Group, owner of the Miss Sixty jeans brand in Asia, is planning a domestic initial public offering as soon as the end of next year, people with knowledge of the matter said."
"Nike Takes China Sales Gold Since 2008 Beijing Olympics" (Bloomberg)
"Nike sales growth in Greater China outpaced those of Adidas AG and local rivals Li Ning Co. and Anta Sports Products Ltd. since the 2008 Beijing Olympics."
"Ivanka Trump's best-selling fashion line is manufactured in China and Vietnam" (The Independent)
"Not a single Ivanka Trump item at Macy's flagship store was produced in the US."
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.