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 country’s Nikkei index slipped on Thursday as investors tempered their optimism regarding a potential economic rebound, Reuters reported. The share average was boosted by Uniqlo owner Fast Retailing after its stock jumped 4.58 percent.
This week, the index rallied above the 30,000 level for the first time in over three decades. But the country’s retail and tourism sectors are still reeling from the pandemic: retail sales declined 0.3 percent in December compared to 2019, according to data from the Ministry of Economy, Trade and Industry. Meanwhile, the country’s National Tourism Organisation reported that foreign visitors were down over 98 percent year-on-year in January.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.