Nike Says Job Cuts at Oregon Headquarters to Total More Than 700
Nike Inc. will have eliminated about 740 jobs at its headquarters by late June as part of its multiyear cost-cutting plan.
Miranda Qu
Why Gucci Is Investing Big in These Five Cities
A multi-faceted partnership with one of the China's biggest luxury mall developers is just part of the equation.
Some Wealthy Chinese Are Shifting Away from European Couture Houses
It’s no secret that Chinese A-listers are fans of Europe’s top couture houses, but some of the biggest names in the game are beginning to lose would-be clients to Chinese couturiers.
China
Chinese Start-Ups: More Than Clones
Chinese tech start-ups were once dismissed as mere copies of concepts cooked up in Silicon Valley. Now, a new generation of entrepreneurs are transforming what began as clones into highly innovative companies, demonstrating that copying is often at the heart of creativity.
Chinese Start-Ups: More Than Clones
Chinese tech start-ups were once dismissed as mere copies of concepts cooked up in Silicon Valley. Now, a new generation of entrepreneurs are transforming what began as clones into highly innovative companies, demonstrating that copying is often at the heart of creativity.
Chinese Luxury Shoppers to Return to Paris
As "gilets jaunes" protests wane and the yuan strengthens, the French capital looks set to regain its place as China’s favourite luxury shopping haven. Read China Decoded to make sense of the market.
Company Snapshot
The entrepreneur founded Xiaohongshu, which has become China's most popular social e-commerce app for beauty, fashion, lifestyle and travel, achieving a valuation of over $3 billion in just six years.
The News in Brief
P&G Lifts Annual Profit Forecast on Strong Us Consumer Demand, Easing Costs
Procter & Gamble raised its annual profit forecast on lower commodity costs and as consumers, particularly in the United States and Europe, kept buying its pricey Tide detergent and Dawn dish soap.
Frédéric Malle Steps Down From Namesake Brand
Frédéric Malle announced on Apr. 18 that he will be leaving his brand Editions de Parfums Frédéric Malle at the end of June.
With Succession in Focus, LVMH Adds Alexandre and Frédéric Arnault to Board
The two brothers join older siblings Antoine and Delphine, meaning that 4 out of Arnault’s 5 heirs now serve on the board. Bernard Arnault, age 75, has placed his controlling interest in LVMH in a stock-share partnership aimed at perpetuating family control.
Arnault Says He Hopes Tensions With China on Luxury Quiet Down
Billionaire Bernard Arnault said he hopes a planned visit to France next month by China’s Xi Jinping will help smooth trade relations between Paris and Beijing.
Vita Liberata Bought Back By Founder
Alyson Hogg, who founded the luxury tanning brand in 2003, has reacquired it from Crown Laboratories.
Swiss Watch Exports Plunge as China and Hong Kong Demand Dries Up
Monthly Swiss watch exports suffered their biggest decline since 2020 as demand for premium and luxury timepieces in key markets including China and Hong Kong plunged.
Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.