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.
Gucci staged a runway show at the historic Shanghai Exhibition Centre on Tuesday evening, featuring its Aria anniversary collection, first released digitally in April, alongside 13 new looks making their debut.
House ambassadors Lu Han and Ni Ni were on hand for the high-octane catwalk, which took place directly next door to the Gucci Garden Archetypes exhibition, which is open to the public until August 1.
The new looks were very much in keeping with the original Aria line-up, further exploring Alessandro Michele’s revision of the brand’s equestrian heritage, in particular.
Gucci’s line-up of in-person events in Shanghai, along with similar activities being undertaken in China by other luxury brands, underscores the need for luxury labels to reach Chinese consumers who are spending at home in the wake of the pandemic.
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International brands who have been hoping for a return to Chinese travelling and shopping abroad anytime soon are likely to be disappointed, with a Wall Street Journal report on Thursday citing Chinese government sources as saying the country will not re-open its borders until the second half of 2022.
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.