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.
"Giorgio Armani Revenues Hit by China Slowdown" (The Guardian)
"Italian fashion house Giorgio Armani experienced a slowdown in revenues and profits in 2015, after suffering a drop in business from Chinese consumers."
"Inside Alibaba's Anti-Counterfeiting Feud" (Associated Press)
"This is the tale of how one of China's corporate giants won — and ultimately lost — a friend in Washington, using legal methods long deployed by corporate America: money and influence."
"Chinese Travellers Losing Appetite for Luxury Products" (China Daily)
"More bad news for the luxury industry: China's affluent travellers, the world's biggest force in global luxury spending, have discovered a preference for having a bite of local cuisine rather than snapping up the likes of Chanel bags and Rolex watches."
"China to Open E-Commerce, Other Sectors to Foreign Investment" (Reuters)
"China will lift restrictions to investments by foreign firms in a range of service industry sectors, including e-commerce, logistics, accounting and auditing."
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"How New Balance Ran Into A Trademark Wall In China" (Fortune)
"Has the Boston-based athletic-shoe maker made a mistake by fighting a two-decade trademark battle?"
"China Bets on Duty-Free Paradise to Keep Luxury Spenders at Home" (Reuters)
"China's efforts to lift local consumption and spur domestic tourism have spawned a duty-free paradise on the southern island of Hainan."
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.