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.
The blockbuster Chinese shopping festival is gaining international traction, with a growing number of brands offering deals to online shoppers in Europe and the US this year. Luxury and fast fashion brands are looking to boost sales ahead of a difficult holiday season, with companies including Harvey Nichols, LuisaviaRoma, 24Sèvres, StockX, Boohoo and Foreo are all taking part.
Still, sales are unlikely to rival figures just published in China (its top two retail giants, Alibaba and JD, generated about $116 billion in merchandise volume).
Doubts about the country’s post-pandemic recovery is making investors, and perhaps shoppers, nervous.
The brand known for its traditional and ornate Chinese aesthetic will be one of the first major C-beauty players to go global when it touches down in the US and Japan later this year.
To unleash the full potential of ‘China’s Silicon Valley’ luxury brands must invest more in the vibrant city at its core and better understand the local mindset.
Western brands shifting supply chains away from China hope to reduce disruptions caused by geopolitical tensions but ‘friendlier’ sourcing hubs aren’t always feasible.