While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.
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.
Wholesalers and online platforms like Dewu have taken a larger share of China’s growing grey-market for luxury goods — formerly dominated by individual sellers.
All three companies have embraced a busy, garish design that’s popular in China and ideally calibrated to sell plenty of low-cost products. Will the same be true as these companies attempt to move upmarket?
The rise of competing shopping hubs like China’s Hainan island, changing consumer preferences and a rise in online shopping have fundamentally changed demand for luxury goods in Hong Kong.
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
In the key China market, sports stars are an increasingly popular choice for luxury brands aiming to broaden their appeal while limiting their exposure to scandal-prone entertainers.
Alibaba’s shopping holiday has lost some of its oomph, but remains a potent force for many brands. That, plus what else to watch for in the coming week.
At the latest edition of China’s top fashion week, brands adapted their designs for a more value-minded shopper as retail buyers prepared for a softer local market.
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.
Its flagship brand struggled following the departure of its creative director but better growth was seen at other labels.
China’s consumer frugality is fuelling sluggish earnings for global brands like L’Oréal and LVMH, while local rivals such as Proya Cosmetics thrive, capitalising on affordable products and strong online marketing.
China’s Ministry of Commerce said it will investigate US apparel maker PVH Corp. for suspected boycotting of cotton sourced from the region that the US targeted in 2021 in its Uyghur Forced Labor Prevention Act.
The LVMH-owned jeweller, which opened a two-floor store in Shanghai’s Hong Kong Plaza in a high-profile ceremony in late 2019, has decided to give up about half of its square footage, sources told Bloomberg.
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 618 festival, named after the June 18 founding date of e-commerce provider JD.com, but embraced by all platforms, is China’s second-biggest annual sales event after Singles Day in November and a key test of household consumption appetite.
The Chinese online retailer reported first-quarter revenue that beat market estimates, as price cuts and discount coupons helped boost sales that have been hit by cautious customer sentiment.
The return of China’s travellers has long been awaited in the travel industry, which is expected to surpass pre-pandemic levels this year by contributing $11.1 trillion to the global economy.
