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.
China’s Alibaba Group Holding reported second-quarter revenue on Thursday that was in line with analysts’ estimates as the country’s retail sector recovers from the effects of pandemic-fueled lockdowns.
The Chinese e-commerce giant posted revenue of 224.79 billion yuan ($31.01 billion) in the quarter, compared with analysts’ average estimate of 224.32 billion yuan, according to LSEG data.
By Akash Sriram
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Alibaba Banks on Aggressive Singles Day Pricing to Recoup Sales Mojo
China’s Alibaba is pressuring merchants to offer rock-bottom prices on its marketplaces in this year’s Singles Day extravaganza.
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
In the key China market, sports stars are an increasingly popular choice for luxury brands aiming to broaden their appeal while limiting their exposure to scandal-prone entertainers.
Alibaba’s shopping holiday has lost some of its oomph, but remains a potent force for many brands. That, plus what else to watch for in the coming week.
At the latest edition of China’s top fashion week, brands adapted their designs for a more value-minded shopper as retail buyers prepared for a softer local market.