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.
"Van Cleef & Arpels Shrugs Off China Slowdown" (The Financial Times)
"The impact of China's economic slowdown and corruption crackdown on the luxury sector are well documented: sales have slipped and exports are down. But Van Cleef & Arpels' boss, Nicolas Bos, remains undaunted."
"Over 40 Percent of China's Online Sales Counterfeit or Bad Quality" (Reuters)
"More than 40 percent of goods sold online in China last year were either counterfeits or of bad quality, the official Xinhua news agency said, illustrating the extent of a problem that has bogged down the fast-growing online sector."
"Luxury Lingerie Maker La Perla Bets Big on Hong Kong" (The Wall Street Journal)
"La Perla, the Italian lingerie maker, is bucking the store-consolidation trend to expand in China, betting that Chinese demand for its products such as $10,000 bras made with 24K gold thread will continue to rise."
"Hello Kitty, Farewell Rolex as Hong Kong Shoppers Go Downmarket" (Bloomberg)
"As Gucci, Louis Vuitton and jewelry chain Chow Tai Fook Jewelry Group Ltd. bargain for lower rents or close stores amid a decline in mainland tourists, mid-tier retailers are filling the gaps."
"JD.com Says Alibaba Pressuring Merchants Before Singles' Day" (Bloomberg)
"The biggest rival to Alibaba Group Holding Ltd. in Chinese e-commerce is accusing the technology giant of violating market regulations and hampering competition in the run-up to the nation's largest online sales promotion."
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.
Its flagship brand struggled following the departure of its creative director but better growth was seen at other labels.
After years of outsized growth in prestige cosmetics, consumers have pulled back on the typically recession-proof category.
Last year’s harsh pandemic restrictions and recent raids on foreign firms have made it harder for Western fashion companies to persuade top international talent to move to the country.