Shares in the premium cosmetics brand soared as much as 87 percent in a frothy debut on Hong Kong’s stock exchange on Tuesday.
Whilst reworking its marketing, influencer partnerships and product assortment, the Ohio-based conglomerate has been heavily investing in Chinese shopping app Douyin.
The Italian skiwear specialist showcased its latest round of celebrity and designer collaborations in a series of pavilions in Shanghai on Saturday as it aims to shrug off luxury sector malaise.
A new generation of Chinese fashion designers are extending their international footprints beyond western markets, tapping sourcing hubs in India and Turkey and retailers from Dubai to Mexico.
ADVERTISEMENT
Alibaba Group Holding’s domestic e-commerce sales came under pressure from cautious spending by Chinese consumers in a faltering economy.
A mid-year sales festival and aggressive price cuts helped drive more cost-sensitive consumers to the Chinese e-commerce platform.
The sportswear giant is betting on Jordan brand’s latest ‘World of Flight’ retail concept in Beijing to kickstart sales in the region, amid increasing competition from home grown players Anta and Li-Ning.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
ADVERTISEMENT
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
After a lacklustre 2023, recovery may be on the horizon for established and independent lines alike.
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.
Despite the country’s protracted property crisis, deflationary pressures and other economic headwinds, its domestic luxury market is expected to grow 4 to 6 percent in 2024, outpacing both Europe and the US.
Contract talks between port workers and their employers will resume on January 7, aiming to avert a strike that could disrupt key East and Gulf Coast ports, with the key issue of semi-automated machinery potentially stalling progress.
The $2.7 billion merger counts Amazon, G-III Apparel Group and Authentic Brands Group as investors.
The new law will give models working in the state greater protection from exploitation, harassment and AI.
French cosmetics giant L’Oréal said on Monday it had agreed to buy Gowoonsesang Cosmetics, which includes South Korean skincare brand Dr.G., from Swiss retailer Migros.
Investors representing 64% of Boohoo’s stock voted against appointing Ashley and Mike Lennon at a special meeting on Friday morning called by Ashley’s Frasers Group.
Previous pledges to reduce operational greenhouse gas emissions by 65% by 2030 and 35% by 2025 are probably not achievable, and the company will consider reviewing its climate targets next year.
Sales of cheaper compounded versions must stop within 90 days. Novo’s rival shots, Ozempic and Wegovy, remain in short supply.
Building on an existing twenty-year partnership, Prada Group and the Franco-Italian eyewear conglomerate EssilorLuxottica have renewed their licensing agreement for ten years.
