Perfume Maker Givaudan’s Sales Beat Estimates, Tariff Paybacks Weigh on Shares
Givaudan’s second-quarter organic sales came in ahead of market estimates on Thursday, but its shares fell 5 percent on litigation costs and tariff repayments.
Beijing, China
Global Markets
Asia Feels Full Force of War-Fuelled Energy Crisis
Asia braces for deepening shortages as Iran war disrupts oil flows, sending everyday goods prices sharply higher across global supply chains.
Asia Feels Full Force of War-Fuelled Energy Crisis
Asia braces for deepening shortages as Iran war disrupts oil flows, sending everyday goods prices sharply higher across global supply chains.
Global Markets
China Luxury Market Forecast to Rebound in 2026, Bain Says
The consultancy expects a ‘modest’ expansion of the mainland luxury market this year but warned that recovery would be fragile and uneven across brands and categories.
China Luxury Market Forecast to Rebound in 2026, Bain Says
The consultancy expects a ‘modest’ expansion of the mainland luxury market this year but warned that recovery would be fragile and uneven across brands and categories.
Global Markets
China’s Golden Week Holiday Spending Falls in Latest Red Flag for Economy
Average spending during the recent Golden Week holiday dipped to a three-year low, indicating continued weak consumer confidence amidst various economic pressures.
China’s Golden Week Holiday Spending Falls in Latest Red Flag for Economy
Average spending during the recent Golden Week holiday dipped to a three-year low, indicating continued weak consumer confidence amidst various economic pressures.
China
Harrods Opens Second China Outpost
The British luxury department store institution has opened its second iteration of The Residence, as it calls its invitation-only culture, events and personal shopping spaces in China.
Harrods Opens Second China Outpost
The British luxury department store institution has opened its second iteration of The Residence, as it calls its invitation-only culture, events and personal shopping spaces in China.
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Technology
Alibaba Leads Chinese Internet Selloff Approaching $260 Billion
The move comes after Beijing issued regulations designed to curb the growing influence of internet-sector leaders.
Alibaba Leads Chinese Internet Selloff Approaching $260 Billion
The move comes after Beijing issued regulations designed to curb the growing influence of internet-sector leaders.
Luxury
Luxury Brands Bank on a Raring China Market
The economic uncertainty caused by the pandemic means high-end brands now depend more than ever on Chinese consumers for sales.
Luxury Brands Bank on a Raring China Market
The economic uncertainty caused by the pandemic means high-end brands now depend more than ever on Chinese consumers for sales.
Luxury
China Luxury Spend Expected to Jump 30 Percent This Year
It’s the only bright spot for the luxury industry, which is otherwise poised to see worldwide spending shrink 45 percent in 2020.
China Luxury Spend Expected to Jump 30 Percent This Year
It’s the only bright spot for the luxury industry, which is otherwise poised to see worldwide spending shrink 45 percent in 2020.
Technology
TikTok Removes 104 Million Videos for Violating Guidelines
The social media giant started fact-checking in the first half of the year to verify content related to the coronavirus and elections.
TikTok Removes 104 Million Videos for Violating Guidelines
The social media giant started fact-checking in the first half of the year to verify content related to the coronavirus and elections.
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Retail
JD.Com Reports Quarterly Revenue Above Estimates
The Chinese e-tailer's net product revenue, which includes online retail sales, rose 33.5 percent to $25.67 billion.
JD.Com Reports Quarterly Revenue Above Estimates
The Chinese e-tailer's net product revenue, which includes online retail sales, rose 33.5 percent to $25.67 billion.
Retail
Report: JD to Raise $3.9 Billion in Hong Kong Listing
The e-commerce company priced 133 million new shares at HK$226 each, according to people familiar with the matter, making it the second-largest listing this year after Beijing-Shanghai High Speed Railway.
Report: JD to Raise $3.9 Billion in Hong Kong Listing
The e-commerce company priced 133 million new shares at HK$226 each, according to people familiar with the matter, making it the second-largest listing this year after Beijing-Shanghai High Speed Railway.
Technology
JD.Com Beats Revenue Estimates on Lockdown Boost
Total net revenue rose 20.7 percent to 146.21 billion yuan ($20.59 billion) in the first quarter ended March 31.
JD.Com Beats Revenue Estimates on Lockdown Boost
Total net revenue rose 20.7 percent to 146.21 billion yuan ($20.59 billion) in the first quarter ended March 31.
China
After Coronavirus, Young Chinese Consumers Are Selling Their Goods
Many Gen-Z and Millenial shoppers are offloading possessions and embracing a new-found less-is-more attitude.
After Coronavirus, Young Chinese Consumers Are Selling Their Goods
Many Gen-Z and Millenial shoppers are offloading possessions and embracing a new-found less-is-more attitude.
The News in Brief
Trump to Impose Forced Labour Duties on Friday as Temporary 10% US Tariffs Expire
The move is the White House’s latest effort to restore Trump’s campaign vision of a near-global tariff after the US Supreme Court in February struck down his ‘reciprocal’ duties.
LVMH Appoints General Manager of Fragrance
Givenchy executive Yann Musquin will lead the group’s fragrance portfolio, succeeding longtime division head Romain Spitzer.
India Changes Rule in Win for Foreign E-Commerce Companies
In a major win for Amazon, which lobbied for the change, the government will allow foreign e-commerce companies to buy products directly from Indian sellers and sell them to overseas customers.
Skincare Brand Prequel Appoints C-Suite
The dermatologist-developed label has named Nathalie Kristo as its first chief executive officer and Toral Patel as chief marketing officer.
Moncler Group Second-Quarter Sales Rise 5% as Stone Island Brand Outperforms
Stone Island’s strong performance helped offset slower growth at the Moncler brand, as the group continues its push to become less dependent on its iconic winter outerwear.
Mulberry Quarterly Sales Jump 23% as Turnaround Gathers Pace
The British luxury handbag maker reported a strong start to fiscal 2027 as CEO Andrea Baldo’s strategy gains traction and the brand gears up for designer Christopher Kane’s runway debut in September.
Phillip Lim Announces New Brand PlayLoveWin
The designer departed his namesake label 3.1 Phillip Lim in November 2024 to pursue personal projects.