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.
Sales at South Korean department stores increased 34 percent year-on-year in February, marking the largest rise since 1996, according to data from Statistics Korea as reported by The Korea Times.
The country’s retail sales index, which reflects consumption trends, also recovered to near pre-pandemic levels during February, when it stood at 115.2. In December of 2019, one month before the first case of Covid-19 was detected in Korea, that same figure was 116.2.
February was a blockbuster month for Korean department stores partly because of the Lunar New Year holiday, but also due to the opening of Hyundai Seoul, the largest department store in the capital, along with a bout of warmer weather, which lured people out of their homes.
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.