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.
One day after explosive allegations that Chinese actress and newly-appointed Prada brand ambassador, Zheng Shuang, has abandoned two children born via a surrogate in the US, the Italian luxury brand has terminated her contract.
“Following significant recent media coverage of her personal life, Prada Group has today decided to cancel its collaboration with actress Zheng Shuang, which was announced January 11, 2021,” Prada Group said in a statement to The Business of Fashion.
Zheng was only revealed as a new celebrity ambassador for Prada with the launch of the brand’s Chinese New Year campaign last week, and her appointment was already the subject of some controversy. Zheng rose to fame starring in soapy idol dramas and is one of the most outspoken female celebrities in China, in the past speaking candidly about her history of plastic surgery and extreme weight loss.
Chatter about how appropriate Zheng is as a luxury brand ambassador exploded on Chinese social media yesterday, as posts related to the alleged surrogacy scandal, many of them questioning the wisdom of Prada affiliating itself with the star in the first place, remained one of Weibo’s “hot topics” throughout the day.
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.