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With China in lockdown, sales of luxury falters

In the west we all remember the days where the outside world was shuttered and we were in a government-enforced lockdown, which experts said would curtail the spread of Covid-19. Working from home, the only outing for many was a trip to the supermarkets, where bare shelves due to supply chain issues had become the norm. The rest of the physical...

May 11, 2022

Business

Victoria’s Secret establishes joint venture with Regina Miracle for China business

Lingerie giant Victoria’s Secret has announced the completion of a joint venture with Regina Miracle International in regards to its company-owned business in China. The agreement will see Regina Miracle own 49 percent of the lingerie company’s China-based operations, including its Victoria’s Secret stores and online business. Victoria’s Secret...

Apr 7, 2022

People

Valentino appoints Janice Lam as CEO Greater China

Valentino has named former Prada and Dunhill executive Janice Lam as chief executive Greater China, reporting to the company’s chief executive Jacopo Venturini. Lam succeeds Mitchell Bacha and will be responsible for driving Valentino’s expansion in Greater China providing strategic direction and focusing on retail, “with the main goal to...

Apr 6, 2022

People

Pandora appoints new general manager of China

Pandora has named former FMCG and beauty industry executive Irving Holmes Wong as general manager for China to lead the Danish jewellery brand’s growth in a “key market”. Irving Holmes Wong, who previously held senior management positions at Avon, Bacardi-Martini, Revlon and L’Oreal, will join Pandora as senior vice president and general manager...

Apr 4, 2022

Business

MyTheresa debuts on JD.com hinting at China expansion

German e-commerce retailer MyTheresa has made its debut on Chinese marketplace JD.com, as it sets its sights on growing its presence in the region. Through a dedicated flagship store, shoppers will now have access to the retailer’s extensive luxury brand offering, which includes the likes of Ganni, Isabel Marant and Jimmy Choo. The e-boutique...

Mar 25, 2022

Report

Gotha Cosmetics prepares for China expansion, acquires iColor Group

Italian group Gotha Cosmetics has acquired iColor Group, a Chinese cosmetics company, as it begins its expansion into the market and plans to grow its international presence. Founded by Chinese entrepreneur Johnson Shan, iColor Group is dedicated to providing cosmetic formulations and filling solutions for both local and international brands...

Mar 14, 2022

Fashion

Shanghai tailors keep qipao dress tradition alive

Zhou Zhuguang surveys his Shanghai workshop and rows of workers meticulously stitching high-collared Chinese dresses known as qipao, some of which sell for nearly 5,000 dollars. "It's a highly skilled craft," said Zhou, co-founder of Hanart, one of China's most well-known qipao makers. "Some of our tailors spend a lifetime learning to make...

Mar 14, 2022

Business

EU finds UK ‘failed to fulfill’ obligations to combat undervalued Chinese imports

The EU Court of Justice is set to enforce a hefty fine against the UK after it found negligence in the imposing of EU obligations to combat fraud and enter the correct amount of customs duties and VAT. Following an investigation by the court, it was ruled that the UK had “failed to fulfill” related EU laws, resulting in an import overflow of...

Mar 10, 2022

Retail

Harrods reportedly shutting doors in three Asian markets

British department store Harrods is reportedly set to close its stores in Taiwan, Thailand and Singapore after it has decided not renew its partnerships with local firms. Taiwan’s Shin Kong Mitsukoshi department stores, which has held an agreement with Harrods since 2006, are among those the retailer will be cutting ties with. Concessions in the...

Feb 25, 2022

Retail

Scotch and Soda expands China retail network

Dutch fashion brand Scotch and Soda has expanded its retail network in China with the opening of its first flagship store in Shanghai’s Xintiandi district. The store opening is part of the brand’s growth strategy in the market, for which it has stated plans to continue this expansion over the next few months. Additionally, it has announced two...

Jan 27, 2022

BusinessFeatured

The coronavirus pandemic nearly doubled luxury sales in China

It takes more than a coronavirus pandemic to suppress the demand for luxury goods in China. Figures from Bain & Company show despite mounting global social and economic challenges, China’s luxury goods market finished another year with double-digit growth, with some brands exceeding a 70 percent increase. In 2021 the sales of luxury reached 471...

Jan 25, 2022

People

Chinese influencer dubbed 'livestream queen' hit with record fine

The social media accounts of an influencer known as China's 'livestreaming queen' disappeared on Tuesday, after she was ordered to pay a record 200 million dollar fine for tax evasion. Huang Wei, known by her username Viya, is one of China's most prominent livestreamers in an e-commerce sector that has accelerated its rapid growth despite the...

Dec 21, 2021