China’s scrapping of travel curbs this month is expected to revive demand in the global luxury retail market, but many consumers see more reasons to do their high-end shopping locally on the tax-free island of Hainan.

The Italian luxury group’s revenue was up 13.9 percent from 2021, and 10 percent from 2019 pre-pandemic levels, reaching just over €1 billion ($1.09 billion).

Levi Strauss & Co. reported quarterly revenue that exceeded expectations, suggesting fears of a denim slowdown were overblown amid strong momentum in the direct-to-consumer business and improving trends in Europe.

Ermenegildo Zegna on Wednesday posted a 2.9 percent fall in fourth-quarter revenue at constant exchange rates hurt by Covid curbs in China.

Levi Strauss & Co is expected to report a fall in quarterly sales for the first time in six quarters, as penny-pinched shoppers shift away from pricier jeans to more formal clothing and non-denim styles.

Bestseller, C&A, H&M, Inditex, Otto Group, and PVH Corp. are now signatories of the legally binding Pakistan Accord, the companies said in a statement released Monday calling on other businesses to follow suit.

Swatch Group shares hit their highest level in nearly two-and-a-half years on Tuesday after the world’s biggest watchmaker said it expected a recovery in luxury demand from China.

Primark reported better-than-expected trading over the Christmas quarter as shoppers returned to stores, parent Associated British Foods said on Tuesday, but cautioned economic headwinds may dent consumer spending in 2023.