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.
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.