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 name often called the “Godfather of Streetwear”, Hiroshi Fujiwara, has posted on his official Weibo account in China saying a Tmall store, called “fragmentdesign” is in no way affiliated with him or his Fragment Design brand.
The store, which has more than 20 thousand fans, features black hoodies with two white lightening bolts emblazoned across the front, a trademark familiar to fans who covet the limited edition collections Fujiwara releases with the likes of Nike, Moncler, Louis Vuitton and Bulgari. Though, with price points in the hundreds of yuan ($50 to $150) for products on the Tmall store, the positioning is significantly more mass market.
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.