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 Billionaire Zhou Chengjian Goes Missing" (BBC News)
"Chinese billionaire Zhou Chengjian of one of China's biggest fashion chains, Metersbonwe, has gone missing, the company confirmed."
"Louis Vuitton Sues Counterfeit Online Sellers in China" (Reuters)
"Louis Vuitton is seeking damages from three people convicted of offering counterfeit versions of its clothing, shoes and handbags on Alibaba Group Holding Ltd's popular Taobao shopping website, a Beijing court said."
"Tencent-Backed Women's Fashion Site Merging With Chinese Rival" (Bloomberg)
"China's Meilishuo.com, a fashion retailer backed by Tencent Holdings Ltd., is merging with rival Mogujie.com, marking the latest alliance in the country's e-commerce industry."
"China's Fosun Says to Raise Stake in German Fashion Brand Tom Tailor" (Reuters)
"China's Fosun International Ltd has entered an agreement to boost its stake in German fashion brand Tom Tailor Holding AG to up to 30 percent, the Shanghai-based conglomerate said in a statement on Friday."
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.