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.
Competition is heating up between two of South Korea’s biggest platform operators.
Kakao, the mobile messaging giant whose operations now span e-commerce, advertising, content and more, saw its market capitalisation briefly overtake arch-rival, search engine portal and Line owner Naver on Monday, The Korea Times reports. By Tuesday, Kakao’s market cap of 62.8 trillion won ($56.2 billion) brought it back to fourth place, after Naver at 63 trillion won ($56.3 billion).
The companies, which both operate successful messaging, e-commerce, fintech and content businesses, have grown rapidly in the wake of the pandemic. At the end of 2020, Naver was the country’s sixth most valuable company and Kakao ranked ninth.
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.