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.
"Chinese Tourists Set Another Record and Change Shopping in Japan" (Bloomberg)
"The spending power of Chinese tourists in Japan is so impressive there is a special word for it: bakugai, or explosive buying."
"Chinese Lingerie Makers Urged to Innovate to Survive" (South China Morning Post)
"The market remains too fragmented with around 3,000 manufacturers operating across the country, none of whom hold more than a three per cent share."
"Luxury Brands Get Tough With Counterfeiters" (The Wall Street Journal)
"The court froze the websites and transferred their domain names — many of which are believed to originate in China — to Alexander Wang."
"Fast Fashion's Uncertain Place in China's Future" (Sourcing Journal)
"In the coming years, it will be up to China to stick with cheap clothing or drastically alter the global fashion supply chain."
ADVERTISEMENT
"Tim Cook Is Back in China, This Time for Wedding Dresses and Fitness Classes" (Quartz)
"Yesterday he posted photos of himself with Guo Pei, one of China's most celebrated fashion designers."
"China's Alipay Deepens Push Into Europe With Ingenico Partnership" (Reuters)
"Ingenico Group has signed a deal with Alipay that will allow Chinese consumers to use the mobile payment app widely across Europe, the French company said."
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.