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A new wave of Chinese designers sweeps the European fashion industry

At a time when China is turning towards its domestic market, the emergence of new Chinese designers, positioned at the top of the range, is not insignificant. Especially since this young generation is challenging preconceived ideas about "made in China", thereby creating what can be called a "new wave". The mention of Chinese brands often leads...

28 Feb 2023

Business

Luxury sector eyes reopening of China

After a year of record sales and profits despite slowing global growth the luxury sector is looking to the reopening of China to deliver further expansion in 2023. The world's largest luxury group LVMH posted a 23-percent jump in sales to a record of 79 billion euros (86 billion dollars) in 2022 and saw profits climb 17 percent to 14 billion....

20 Feb 2023

Business

China's luxury market shrank 10 percent in 2022

China’s luxury market contracted 10 percent in 2022, according to insights published by consultancy firm Bain & Company on Tuesday. After five years of successive growth, China’s zero-Covid policy slowed economic spending, Bain’s report said. Despite the tough year for luxury brands in China’s market, the outlook is positive, with growth to...

8 Feb 2023

Business

Luxury sector impatient for return of Chinese tourists

The European luxury sector is welcoming the end of pandemic lockdowns in China, as the return of big-spending Chinese tourists could sustain further growth. Prior to the pandemic, Chinese tourists visiting Europe were a major source of sales for luxury houses. The Chinese accounted for "a third of luxury purchases in the world and two-thirds of...

23 Jan 2023

BusinessFeatured

PLBY Group and Charactopia Licensing launch Playboy China

PLBY Group, the owner of the Playboy brand, has signed a deal with Charactopia Licensing, a Fung Retailing brand management company, to enter the Chinese market with the launch of a joint venture, Playboy China. The joint venture, valued at 250 million US dollars, will jointly own and operate the Playboy branded consumer products business in...

19 Jan 2023

Business

Luxury's rebound in China may take a little longer

At the World Economic Forum in Davos China made an impassioned speech that it had re-opened for business after nearly three years of border closures. But as the country aims to shrug off the pandemic years it was cut off from the world, fashion businesses have already felt the effects. Burberry on Wednesday said its sales in China plunged 23...

18 Jan 2023

Business

Chanel was most active luxury brand on China’s WeChat in 2022

By the end of 2022, Chinese social media platform WeChat had garnered around 1.31 billion monthly users, according to Statista. A figure that came surprisingly close to the country’s 1.4 billion population, putting a definitive spotlight on the app’s expansive user base. Its presence in the region means it is an important site for brands,...

10 Jan 2023

Business

Alibaba co-founder to relinquish control of Ant Group

Jack Ma, co-founder of Chinese e-commerce giant Alibaba, is to give up control of of Ant Group, after a government crackdown on powerful companies and individuals. For the past two years there has been much talk of Mr Ma divesting his stake, with the Ant Group valued last year between 75 and 150 billion dollars before its IPO was halted. Ant...

9 Jan 2023

Business

Luxury stocks rise on China's re-opening

China’s announcement on Monday that it would re-open its borders to visitors and drop quarantine requirements was good news for luxury stocks. Luxury brands rely heavily on Chinese shoppers, and the lifting of the previously mandatory quarantine for incoming passengers will be China’s first full opening since the dawn of the pandemic in 2020....

27 Dec 2022

Business

Hong Kong tailors take to livestream in pandemic survival fight

Assistants wielding multiple livestreaming mobile phones are now as crucial to Roshan Melwani's tailor shop as the measuring tapes, needles and fabrics that have made his Hong Kong family business so famous. The Melwani family has dressed everyone from American presidents to aristocrats and celebrities over the decades. But the pandemic nearly...

22 Dec 2022

Business

China's retail reopening hampered by Covid surge

China’s abolishing of its zero Covid strategy has perhaps less to do with civilian protests than a shrinking economy. China, often dubbed the world’s factory, saw production and retail sales miss November forecasts, resulting in the country’s worst output data in six months. Growth was 2.2 percent compared to October’s 5 percent, and below...

18 Dec 2022

RetailFeatured

China gears up for revenge shopping, again

China was one of the first countries in 2020 to successfully emerge from the pandemic, after stringent lockdowns enforced by the government curbed the spread of Covid-19. In May that year, the term ‘revenge shopping’ was coined, where a sharp growth in purchases after a period of crises sees consumers returning to stores. Queues outside luxury...

5 Dec 2022