China, long expected to be the world’s largest consumer of luxury goods, may have a different future after all. The country, which last year saw sales of luxury rise 48 percent to about 54 billion dollars, said it wants to adjust excessive incomes and see its national wealth more equally distributed. China currently has one of the world’s...
Aug 27, 2021
It has been a busy week for retailer Urban Oufitters, reporting stellar sales figures, a new re-sale platform and the latest, its exit from the Chinese market. The Anthropologie-owned company said it was cease trading in China when it closes its Alibaba platform Tmall store on 12 September, when it would remove all its online products. Its...
Aug 26, 2021
While still on the uptrend, China’s economy’s recovery slowed down in July. National retail sales in China grew 8.5 percent compared to a year ago, falling short of expectations and signaling a potential new dip as the Delta variant virus outbreak takes force. Even if the Asian giant’s retail sales missed the consensus analysts’ forecast for...
Aug 24, 2021
When China began to boycott brands who made political statements against Xinjiang cotton, the repercussions potentially equalled a loss of local sales. But as political motivations travel far beyond Chinese borders, western companies are being forced to choose sides too. One such company is Barcelona’s star football club. Affectionately known as...
Jul 26, 2021
Italian eyewear group Marcolin has opened its own subsidiary in Shanghai to strengthen its presence in China. The addition of China means that Marcolin now operates 14 worldwide branches: in Europe (Benelux, DACH, France, Italy, Nordics, Spain, and the UK), Russia, the Americas (the US and Brazil), Asia (Hong Kong, Shanghai and Singapore) and...
Jul 14, 2021
On the eve of China’s 100th year anniversary celebration of its Chinese Communist Party, France launched an investigation into the “concealment of crimes against humanity” by global textile giants, including Inditex and Uniqlo, who stand accused of having profited from the forced labour of Uighurs. France’s National Anti-Terrorism Prosecutor’s...
Jul 2, 2021
Danish fashion brand Ganni is launching direct-to-consumer e-commerce in China with Tmall, part of the Alibaba Group on June 28. The collaboration will give Ganni access to more than 800 million active and digital-first consumers on the platform and will allow Chinese consumers to experience the “full Ganni universe,” said the brand in a...
Jun 16, 2021
Global demand for Chinese-made clothing surged in the first four months of the year, with a total valuation of 44.41 billion dollars exported. The data was shared by the General Administration of Customs of China, which said demand was up 51.7 percent over the same period last year. Exports surged to 44 billion dollars From January to April,...
Jun 1, 2021
It's the world's biggest market for luxury goods -- and their counterfeits -- so an expert eye for telling a bona fide Chanel handbag from a bogus one is a skill set in hot demand across China. Enter the "luxury appraiser", an diffrentiator of real from fake, trained to triage handbags, belts and garments for dodgy serial numbers, stitching and...
May 3, 2021
Beijing - Financial regulators in China summoned 13 internet companies on Thursday to call for changes to their fintech operations, the central bank said in a notice, as Beijing ramps up scrutiny on monopolistic practices in the country’s tech industry. Regulators have been taking China’s tech firms to task to curtail the reach of private...
Apr 29, 2021
Valentino has named Mitchell Bacha as CEO for Greater China. He will report to Marco Giacometti, Valentino’s chief commercial officer. Bacha succeeds Oliver Yang who was CEO of Asia Pacific since 2008. Bacha is Australian, but has extensive experience in the Asian market. He was previously CEO Asia Pacific for Diesel. He also worked as managing...
Apr 16, 2021
Beijing - More than 20 Chinese tech giants have made a public pact to abide by anti-monopoly guidelines, after regulators told them to note “the warning” of a record fine against e-commerce giant Alibaba. Beijing is taking China’s tech firms to task to curtail the reach of private companies into the daily finances of the Chinese public — and,...
Apr 15, 2021
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