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The China Edit | KKR Sells SMCP, Bling Isn't Dead, BRICs Bubble

The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
Sandro store, Singapore | Source: Shutterstock
By
  • Kate Abnett

"Chinese Firm Strikes €1.3bn Deal for French Fashion House" (The Financial Times)
"KKR has sold SMCP, the owner of French fashion brands including Sandro to the Chinese textiles maker Shandong Ruyi in a deal valuing the company at €1.3bn including debt, according to people familiar with the matter."

"Has the BRICs Bubble Burst?" (The Guardian)
"Brazil, Russia, India, China and South Africa seem to be failing to justify predictions of 21st century domination."

"Why 'Bling' Isn't Dead in China's Luxury Market" (Jing Daily)
"As China's luxury slowdown continues, there's been a great deal of news about the death of 'bling' as both the anti-corruption campaign and changing tastes cause consumers to turn away from logos and ostentatious styles."

"China Changes Online Import Tax Rules, a Move to Help Cosmetics" (Bloomberg)
"China is changing tax rules for imported goods that are sold online in a move that will see beauty products such as eye creams and moisturising gels from L'Oreal SA's Lancome and Korea's Amorepacific Corp. becoming cheaper for Chinese consumers."

"E-Commerce Latecomer Chow Tai Fook Chases Alibaba" (Bloomberg)
"The Chow Tai Fook brand is making a move to chase Alibaba and other Internet retailers by expanding its online presence."

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