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.
HONG KONG, China — Hong Kong's retail sales fell 21.4 percent in January from a year earlier, as the coronavirus outbreak discouraged tourists from visiting the Chinese-ruled city and kept citizens away from shopping centres.
The health scare worsened an already weak environment for retail after months of often violent anti-government protests.
For the month of January, sales dropped to HK$37.8 billion ($4.86 billion), government data showed on Monday, the 12th consecutive month of decline. December’s fall was a revised 19.4 percent.
In volume terms, retail sales in January fell 23.0 percent, compared with a revised 21.1 percent drop in December.
By Donny Kwok and Twinnie Siu; Editors: Marius Zaharia and Toby Chopra
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.