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 arrival of springtime and progress made in nationwide vaccination is giving a much-needed boost to the country’s top brick-and-mortar retailers, Korea BizWire reports.
During the weekend of March 5, Hyundai Department Store witnessed a 109.8 percent surge in sales compared to 2020 and sales were up by 26.5 percent compared to 2019. Meanwhile, sales at Lotte Department Store were up 94 percent year-on-year and 9 percent compared to 2019; Shinsegae Department Store saw sales increase by 94.7 percent and 14 percent compared to 2020 and 2019 respectively.
Luxury goods performed especially well, with Lotte and Shinsegae reporting 143 percent and 109.9 percent sales boosts year-on-year and Hyundai reporting a 138.6 percent uptick.
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.