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.
"WeChat Publishing Is Changing China's Mediascape" (The Business of Fashion)
"As Chinese messaging app WeChat hits 500 million users, BoF examines how mobile publishing is changing the country's media landscape."
"China's Influence on Fashion: At the Top of the Game Both Creatively and Commercially" (The Independent)
"Despite Chinese president Xi Jinping's policies to combat corruption and discourage extravagance – which has resulted in the Chinese market wavering over the past 18 months – it is still the main focus of Western luxury brand expansion."
"China to Reduce Import Tariffs to Boost Domestic Spending" (Reuters)
"China will reduce import tariffs on some consumer goods by the end of June to help boost domestic spending and support the slowing economy at a time when record numbers of cash-rich Chinese tourists are splurging overseas."
"Why China's Consumers Will Continue to Surprise the World" (McKinsey & Company)
"The reality is that Chinese consumers are going to continue to increase in wealth and complexity. And if you're worried the country's economic importance is declining, you're probably looking at its performance the wrong way."
"South Korea, Climbing the Ranks of Asia's 'A League'" (The Business of Fashion)
"What South Korea's fashion market lacks in scale, it makes up for in influence, thanks to the continuing cool factor of both Korean brands and 'Brand Korea."
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.