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 Yu Prize, which recognises up-and-coming Chinese design talent, was awarded to Chen Peng at a Shanghai Fashion Week event yesterday.
The prize, which was presented by the award’s founder, Wendy Yu, includes 1 million yuan ($153,000) cash and a 12 month mentorship from the OTB Group. In addition, his collection will be presented at Paris Fashion Week’s Sphere showroom, on the runway at Shanghai Fashion Week, and sold at Harrods.
The London College of Fashion graduate founded his Chenpeng brand in 2015. It’s best known for its oversized down jackets and currently has more than 100 stockists globally. Famous fans include Rihanna, Lady Gaga and Bella Hadid.
Other award winners on the night included Susan Fang, Donsee10 and At-One-Ment by Wanbing Huang.
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.
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.