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.
"Forget Black Friday and Cyber Monday: 100m Shoppers Splash Out on China's Singles' Day" (The Guardian)
"Last year 27,000 merchants took part, with Alibaba's e-commerce sites generating £6.1bn in sales."
"Luxury Brands Suing Alibaba Say Mediation Looks Futile After Ma Comments" (Reuters)
"Luxury brands suing Alibaba Group Holding Ltd have asked a US judge to be relieved of the obligation to mediate, after Alibaba founder Jack Ma was quoted as saying he would rather lose the case than settle."
"Menswear Sales and Chinese Expansion Boost First Half for New Look" (The Telegraph)
"The fast-fashion retailer said it expects to see Chinese sales on Singles Day multiply 'several hundred times over.'"
"China Watchdog Tries to Douse Flames of Alibaba, JD.Com Stand-Off" (Reuters)
"A Chinese regulator has tried to cool a brewing war of words between Alibaba Group Holding Ltd and JD.com, the country's top two e-commerce firms."
"The Very Real Danger of Fake Cosmetics from China" (Mashable)
"Foreign governments have recently raised the alarm that fake beauty products made in China are being sold to online shoppers around the world."
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.