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.
Yi Yangqianxi, also known by the English name, Jackson Yee, has proven such a hit as Tiffany & Co.’s regional ambassador in China since his appointment last June, that he has now been promoted to a global ambassador role, according to an announcement on the jeweller’s official Weibo account posted today.
Just a week ago, the young star, best known as a member of boy band TF Boys, was also appointed global make-up and skincare ambassador for Armani Beauty.
The appointment of Asian stars generally and Chinese celebs in particular to be the global faces of brands - most prominently in the luxury and beauty sectors - has grown in popularity this year, as more and more international brands turn to Asia for sales growth.
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.