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.
Street level retail stores for K-Beauty chains have closed in “considerable numbers” as a result of the pandemic, according to report from Korea Bizwire.
Korea Fair Trade Commission data showed that Missha, a budget cosmetic brand, shut 164 street level stores (known as “road shops” in Korea) last year, along with 30 additional vendors between January and March of this year.
Innisfree, a beauty brand run by cosmetics giant AmorePacific, has also shuttered 264 stores since 2019 and Etude House, which had 275 stores in 2019, now only has 164 stores listed on its website.
Street level shops have particularly suffered due to a drop in pedestrian numbers and and the adaption of e-commerce.
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.