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.
Retailers luring shoppers back to offline stores with special seasonal promotions saw sales in South Korea jump 18.5 percent in March from a year earlier, according to a Yonhap News Agency report.
The combined sales of 26 major offline and online retailers reached 13.1 trillion won ($11.7 billion) last month, data compiled by the Ministry of Trade, Industry and Energy showed.
Sales from offline stores jumped 21.7 percent and department stores saw their sales rise 77.6 percent. Sales of imported luxury goods rose 89 percent year-on-year as South Korean consumers re-routed disposable income that would normally be spent on categories such as travel, to luxury shopping at home.
Fashion items and cosmetics saw their sales increase 26.1 percent and 10.6 percent, respectively, year-on-year in March.
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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.