Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
After the retail empire’s initial takeover bid failed, the company raised its holding to 50.08 percent in a move that will turn the German apparel brand into a subsidiary of Frasers.
china / Consumers
China
China’s Golden Week Travel Surge Masks Cautious Consumer Spending
Chinese travellers are booking longer holidays and venturing further afield for this year’s National Day holiday, but that may not translate into higher retail sales.
China
China’s Shoppers Are Buying Luxury Again
Results from companies including L’Oréal, LVMH and Ralph Lauren, along with industry data, suggest affluent consumers are starting to spend more again, helped in part by a Chinese equities rally boosting wealth and sentiment.
Beauty
Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall
The once-promising Chinese travel retail market is showing little signs of recovery, causing global beauty giants to reevaluate their strategies and reduce promotions.
Global Markets
Why China’s Gold Jewellers Are the Envy of Global Brands
With soaring profits and rapidly expanding store networks, ‘heritage-gold’ jewellery brands like Laopu Gold and Lao Feng Xiang are red-hot in China’s otherwise tepid luxury market.
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China
Case Study | The Playbook for Succeeding in China’s New Reality
Once fashion’s most reliable growth engine, the Chinese market is shifting as consumer spending cools and shoppers with more choice than ever gravitate toward savvy domestic brands. Opportunities for international players are still plentiful, but the old formula for succeeding in China is no longer relevant. Brands need a new game plan to stand out.
China
Op-Ed | What’s Behind the Slump in China’s Luxury Sales?
The key question is whether the drop is due to a weakening economy or a shift in consumer perception towards luxury items as mere commodities.
China
Chinese Swap Handbags for Trips as ‘Experience Economy’ Booms
Amid China’s market struggles, a broader trend of shifting consumption towards services and unique experiences is emerging, despite ongoing challenges like modest income growth and declining home prices.
Global Markets
How China’s Fashion Industry Is Leveraging the Olympics
From sportswear giants Anta and Peak to cosmetic brands Maogeping and Chando, Chinese companies placed their marketing bets on team uniforms, athlete endorsements and themed products.
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China
China Uncertainty Clouds Outlook for Luxury Sector
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
China
Where to Engage Shoppers This Chinese New Year
While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.
China
Why Chinese Brands Excel at Down Jackets
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.
China
China’s Luxury Market Set for Moderate Growth
Despite the country’s protracted property crisis, deflationary pressures and other economic headwinds, its domestic luxury market is expected to grow 4 to 6 percent in 2024, outpacing both Europe and the US.
The News in Brief
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
Kering Drops 12% as Luxury Braces for Tough Winter
The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
Elle Launches Moroccan Edition
Hitting newsstands in October, the magazine marks Elle’s 51st international edition, published under licence by the Geomedia group.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.
L’Oréal Sales Beat Expectations as Premium Products Surge
The French giant handily beat expectations on strong demand for hair products at salons and premium skincare from its dermatological division.
P&G Beats Revenue Estimates, Flags Bigger Hit to Annual Profit
The maker of Pantene shampoo was helped by strong personal care demand, but expects higher commodity costs to reduce profit by about $1.4 billion this year.