China news and archive

From domestic success to global expansion: Key insights on China’s fashion market

Chinese brands have gained in popularity at home and abroad over the past years but sluggish domestic consumer spending and uncertainty amid evolving trade tensions are weighing on the outlook of China’s apparel industry. Here are eight insights about China’s clothing sector from the spring edition fashion fair Chic. 1. Sluggish consumption...

BusinessMember

Temu's Chinese owner sees revenue growth slow

Chinese e-commerce giant PDD Holdings announced Thursday slower revenue growth for the third quarter running, as the Temu owner confronts trade tensions between Beijing and Washington. The Shanghai-based company posted revenues of 110 billion yuan ($15 billion) in the three months to December 31, up 24 percent year-on-year. The figure was down...

BusinessMember

Writing on the wall as Chinese businesses fret over US trade war

At a bustling Shanghai trade fair, exporters of goods ranging from plush toys to chainmail bikinis expressed growing unease at the escalating US-China trade war as new US tariffs took hold on Tuesday. President Donald Trump on Monday doubled previously imposed tariffs to 20 percent, which themselves pile atop existing levies on various Chinese...

BusinessMember

Pinko strikes strategic partnership in China amid uncertainty

Pinko, the Italian fashion brand owned by Fidenza-based Cris Conf, has announced a strategic collaboration with Lima Commercial Management, a key player in the Chinese retail market. This move comes at a critical moment for the company, which recently entered debt restructuring negotiations following challenges in its Asian operations. Cris Conf...

BusinessMember

Net-a-Porter to cease activities in China by March 20

Online fashion retailer Net-a-Porter has set its deadline for its withdrawal from China. The company published a statement on its Chinese website stating that sales activities in the country via the online shop, local app and other digital platforms will be discontinued on March 20. Following that, "after-sales services" such as returns and...

BusinessMember

Fashion brands see renewed growth in China amid global recovery

Signs of recovery in China’s luxury market are becoming increasingly clear as fashion brands report encouraging results for 2024. Moncler, the Italian luxury outerwear giant, posted annual revenues of 2.7 billion euros, reflecting an 8 percent increase at constant currency compared to 2023. The Asia-Pacific region was a key driver of this...

BusinessMember

UK retailers reportedly mull US subsidiaries and halting Chinese imports amid tariff shifts

US president Donald Trump brewed up what could be considered the beginning of a trade war last week when he announced a series of tariffs and impending tariffs on some of the world’s largest markets, including China. From the get-go, Trump has made it clear that the UK and the EU are also being considered in the way of tariffs, leaving many...

BusinessMember

What is the US’ de minimis exemption and why does it matter for global trade?

Tension between the US and China in the way of global trade escalated this week after US president Donald Trump announced new tariffs of 10 percent on imports from the region. Pressure then heightened later in the week when the Trump administration announced that China would no longer be eligible to avoid such tariffs by trading under the US’ ‘...

BusinessMember

Puma slows Chinese imports as imposed US tariffs take effect

Puma is sourcing more and more from suppliers in countries like Indonesia and Vietnam for the US market as the trade war between China and the United States intensifies, according to Arne Freundt, CEO. The CEO of the German sportswear brand revealed in an interview with Bloomberg that it is sourcing approximately 10 percent of the footwear...

BusinessMember

US Postal Service says suspending parcels from China

The US Postal Service (USPS) has said it is temporarily suspending inbound parcels from China and Hong Kong, evoking an angry accusation of "unreasonable suppression" from Beijing on Wednesday. The order follows US President Donald Trump's imposition of additional 10 percent tariffs on Chinese imports starting Tuesday. Minutes after they took...

BusinessMember

US fashion group PVH says 'deeply disappointed' over China sanctions

US firm PVH, which owns Tommy Hilfiger and Calvin Klein, said Wednesday it was "deeply disappointed" by China's decision to place it on the country's sanctions list. Beijing on Tuesday added the fashion group and biotech giant Illumina to its list of "unreliable entities" -- part of a swath of measures against US businesses in China in an...

BusinessFeaturedMember

Trump strikes, China counterattacks: A shock for the fashion and retail industry

Trade tensions between the United States and China are escalating as Beijing announces retaliatory measures in response to President Donald Trump’s decision to impose 10% tariffs on Chinese imports. The new Chinese countermeasures, which include tariffs on the energy, auto and technology sectors, as well as export restrictions on critical...