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.
"Luxury Retailers Hope Chinese New Year Tourists Will Leave Them Crowing" (The Guardian)
"Brand outlets hope weak pound, extra flights from China and easing of visa system will drive sales and fill the tills over the year of the rooster"
"Brexit: The Chinese Tourist Boom That Wasn't" (Jing Daily)
"According to the latest visitor data from Visit Britain, which covers the first three quarters of 2016, fewer Chinese tourists visited the United Kingdom in the period after the referendum than last year.
"Alibaba Raises Forecast as Chinese Consumers Continue to Spend" (Bloomberg)
"Alibaba Group Holding Ltd. raised its full-year sales forecast after quarterly results beat estimates, as Chinese spending stays strong and the company wrings revenue from fledging areas such as cloud computing, entertainment and search."
"Is This the Chinese Luxury Mall of the Future?" (Jing Daily)
"There is a uniqueness that sets [Xintiandi Style] apart from many others in downtown Shanghai: almost all of the brands are Chinese."
"Gold Goes Cold Turkey as Chinese Stop Buying for Year of Rooster" (Bloomberg)
"Gold is headed for its longest streak of losses since October as buying from China comes to a sudden stop ahead of the country's traditional week-long holiday to celebrate the Lunar New 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.