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.
BEIJING, China — Chinese news reports say the founder of an online luxury retailer has been charged with smuggling goods into China by having travellers pretend they were personal belongings.
The news reports Monday said Ji Wenhong of xiu.com was extradited from Indonesia to face charges of smuggling goods worth a total of 438 million yuan ($65.5 million) into China while failing to report their true value.
The reports said Ji was accused of buying designer clothing from Europe and the United States and having it shipped to Hong Kong. They said the company then arranged for travellers to carry it to the mainland in their baggage.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.