Hugo Boss Chairman to Step Down Amid Frasers Group Pressure
Stephan Sturm is stepping down, as the German fashion house's largest shareholder seeks to beef up its board representation alongside its takeover bid for the brand.
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
CFDA’s Steven Kolb Involved in Altercation with PETA Protestors
The trade body’s president physically restrained animal rights activists after they stormed a Cos runway show at New York Fashion Week.
GQ Philippines Names Danyl Geneciran Editor in Chief
The former Vogue Man Philippines editor will helm GQ’s 23rd international title, whose debut issue features covers starring Darren Criss, Jordan Clarkson and Erwan Heussaff.
Human Made Discloses $3.6 Million Undercover Purchase Price and Long-Term Financial Targets
The Tokyo-listed company will pay $3.6 million in cash for 100 percent of Undercover, with founder Jun Takahashi relinquishing corporate duties to focus solely on design.
Arizona Accuses L’Oréal of Concealing Cancer Risks Linked to Hair Relaxers
The beauty conglomerate faces over 12,000 similar lawsuits filed by individuals that have been consolidated in a Chicago federal court.
Space NK Names New CEO, Andy Lightfoot Steps Down
Chief marketing officer Emma Simpson-Scott will succeed Lightfoot, who is leaving the UK retailer after seven years at the helm.
EssilorLuxottica Managers Defend CEO After Heir Lashes Out
Twenty top lieutenants to CEO Francesco Milleri came to their boss’s defense in an escalating feud with Leonardo Maria Del Vecchio, a son of the founder who abruptly left a senior role at the company.
Zara Owner Looks to US for Next Phase of Growth
Inditex is investing in the US as a key growth market, CEO Oscar Garcia Maceiras told Reuters, with store revamps and new openings planned across its Zara, Massimo Dutti and Bershka brands.