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 luxury e-commerce giant has appointed Steven Xu as president of China and Asia Pacific. In the newly created role, Xu will be responsible for all consumer-facing activities in China and the Asia Pacific market, as well as building out a team in the region, the company said.
Xu was formerly responsible for managing Ralph Lauren’s online business in the Asia Pacific region, and has also worked at British American Tobacco and Philip Morris on digital strategy in both the Asia Pacific and Middle Eastern markets.
He begins his new role at Mytheresa on July 1.
Learn more:
ADVERTISEMENT
The Biggest Mistakes Luxury Brands Make in China
China is the world’s most important luxury market, but key business decisions concerning the country are still taken by Western executives based in Europe, resulting in common and costly mistakes, argue Luca Solca and Jasmine Zhu.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.
After growing the brand’s annual sales to nearly €2.5 billion, the star designer has been locked in a thorny contract negotiation with owner LVMH that could lead to his exit, sources say. BoF breaks down what Slimane brought to Celine and what his departure could mean.