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.
Chief executive Erik Ryd is looking to sell his $500 million business, according to the Financial Times, after his children declined to take it over.
Hop Lun is one of the world’s largest wholesale intimates companies and manufactures underwear for brands including H&M, Victoria’s Secret and Marks & Spencer.
The global intimates market saw a boost during the pandemic, and after an initial dip in business during 2020, Hop Lun’s sales hit $583 million in 2021. The Swedish entrepreneur said the company has also been working with several new lingerie startups which entered the market over the past two years, and that sales are expected to climb 17 percent in 2022.
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The Intimates Business Is Changing. Can a 40 Year-Old Lingerie Company Keep Up?
The rise of start-ups like Skims and Parade have forced lingerie companies like Victoria’s Secret to evolve. Now, Cosabella, a decades-old lingerie company, is also rebranding to embrace a more inclusive image.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.