China news and archive

Luxury brands lure Chinese shoppers despite slowdown

Sipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty -- a lavish affair designed to win customers in China's crucial market. China is the world's biggest spender in the luxury sector, accounting for half of global sales. But as its post-pandemic recovery falters,...

Retail

Casadei launches on Tmall Luxury Pavilion

Italian luxury footwear brand Casadei has opened a flagship store on Alibaba’s leading e-commerce platform, Tmall Luxury Pavilion, as part of its continued global expansion and digital strategy plans. In a statement, Casadei said its launch on Tmall would allow it to connect with the “vibrant and digitally savvy Chinese market,” while...

Report

Investors brace for luxury slowdown in Q1

Investors are bracing for a notable downturn in luxury sales as companies prepare to release their first-quarter results, reflecting weakened demand from China, reported Reuters. Kering's unexpected forecast of a 10 percent decline in first-quarter sales, contrasting with the 3 percent anticipated by analysts, has already cast a shadow over the...

Fashion

H&M and Shanghai Fashion Week to partner on collaborative collection

Swedish fashion giant H&M has announced it will be partnering with Shanghai Fashion Week on a new collaborative collection with Chinese designers in a bid to showcase local design. Set to be released in autumn 2024, the collection will come as part of the duo’s efforts to diversify commercial channels and leverage fashion industry resources as...

BusinessFeatured

US introduces new bill to counter Chinese production and encourage local supply

A new US bill is hoping to encourage an increase in circular fashion production in a bid to revive North America’s local supply chain while countering that of China’s. The Americas Trade and Investment Act (or the Americas Act) was introduced by US senators Bill Cassidy and Michael Bennet, as well as US representatives Maria Salazar and Adriano...

Business

The luxury market outlook remains uncertain in the US and China

The luxury fashion industry is grappling with significant market uncertainties, particularly as the crucial Chinese and US markets encounter challenges. Despite LVMH's robust revenue postings - with its performance seen as indicative of broader luxury sector trends - concerns persist about a potential replay of the boom and bust cycle witnessed...

Fashion

EU Parliament and Council unite to ban products made by forced labour

In a landmark move, the European Union Council and the European Parliament have forged a provisional agreement aimed at prohibiting the importation of goods manufactured using forced labour into the expansive European single market. The agreement delineates clear roles for both the EU Commission and member states in the identification of...

Business |Interview Featured

First Chinese fashion brands join environmental nonprofit Canopy

Commemorating the Lunar New Year (Year of the Dragon) on 10th February 2024, three Chinese fashion brands have joined forces with environmental non-profit Canopy. As the first Chinese brands, multi-brand fashion company Ellassay Group, sports apparel brand Engine Bird and sock company Happywool have partnered with Canopy to keep climate- and...

Fashion

Dior 'indefinitely' postpones upcoming Hong Kong menswear show

Dior has unexpectedly deferred its Pre-Fall menswear exhibition planned for March 23 in Hong Kong, declaring an "indefinite" postponement. The luxury fashion house, managed by LVMH, offered no explanation for the last minute cancellation, a development corroborated by local authorities as reported by Dimsum Daily. With merely a month remaining...

Fashion

Balenciaga to show resort collection in Shanghai

Balenciaga is set to unveil its resort 2025 collection in Shanghai on May 30, marking a significant milestone as Creative Director Demna makes his Asian debut for the Paris-based label. This marks the third international showcase for Balenciaga, following the 2023 presentation in New York and the 2024 show in Los Angeles. Cruise seasons, often...

Fashion

Tom Ford Eyewear launches flagship on Tmall Luxury Pavilion

Tom Ford Eyewear, part of the Marcolin licensed eyewear portfolio, has opened a flagship store on the Tmall Luxury Pavilion in China. The new space is described as a “milestone” achievement and aims to connect “the brand’s sartorial excellence with the needs of new consumers on the ever-evolving luxury Chinese market,” Marcolin said in a...

Business

Insights into China's luxury market growth in 2024

After a robust rebound in 2023, China's luxury market is anticipated to grow at a mid-single-digit rate in 2024, according to Bain & Company's China Luxury Report. The market saw a 12 percent YoY increase in 2023, recovering from the pandemic-induced decline in the previous year. While the first half of 2023 witnessed a strong rebound, the...