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 commercial capital with a population of 25 million announced Sunday evening that half of the city would be locked down from Monday morning for five days, the other half enters its five-day lockdown from April 1.
The aim is to limit movement and test the city’s population twice over the next week-and-a-half as Shanghai battles its worst outbreak of Covid-19 infections since the beginning of the pandemic. On Sunday the city recorded 3,500 new infections, though only 50 cases of symptomatic illness.
Shanghai’s city districts are built around the Huangpu River, which dissects the east and west of the city. Districts to the east of the river, including Pudong New Area and its Lujiazui Business District, are currently closed off, with public transportation and roads connecting the city’s east and west also shut down.
Pudong is home to major malls including Shanghai IFC, usually one of the city’s busiest luxury malls, home to brands including Louis Vuitton, Cartier and Prada. Swire Properties Taikoo Li Qiantan also opened its Pudong location in September last year, quickly attracting huge crowds to stores including Balenciaga, Dior and Moncler’s biggest House of Genius store on the Chinese mainland.
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China’s Covid Outbreak Prompts Fears of More Supply Chain Disruptions
The country is reporting its highest caseloads since the start of the pandemic, and whole regions are locked down, sending shudders through a still fragile global supply chain.
China’s jewellery market is surging double-digits but in the face of growing competition from local players some international brands are only seeing subdued returns.
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.