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 South Korean beauty group, which owns brands including Laneige and Sulwhasoo, reported Wednesday that its first-quarter earnings increased by almost 90 percent year-on-year on the back of online and overseas sales growth, The Korea Times reports.
Net profit hit 176.8 billion won ($159.2 million) for 2021′s first quarter, an 86.5 percent increase from the same period last year. Sales grew 8.5 percent to 1.39 trillion won ($1.2 billion).
The group’s domestic sales grew 6.9 percent compared to 2020′s first quarter, with online orders surging over 30 percent. Meanwhile, overseas sales got a 19.6 percent boost; sales in China rose 30 percent.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.