Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
china / Tech
China
Instagram-Like Xiaohongshu Makes Inroads with E-Commerce Sales
The platform has long been one of China’s most important marketing tools, but until now has struggled to become a sales engine for brands.
Technology
TikTok’s New Amazon Copycat Is Full of Cheap Chinese Goods
The app’s Shop feature, which has gone live for some US users, is plagued by the same problems with a free-for-all marketplace Amazon has faced.
Retail
The Asian Retailer Outgunning Amazon and Walmart in South Africa
Shein, founded in China, is gaining a foothold in a nascent e-commerce market in the most industrialised country in Africa and is squaring up to US giants Walmart Inc. and Amazon.com Inc., who want to do the same.
Global Markets
Worldview: China Loans Plunge to 14-Year Low, Adding to Deflation Risk
This week’s global markets round-up of fashion business news also features Turkey’s retail sales rose 28.5 percent year on year in June, South Indian mills cut discounts amid rising cotton prices and 422 facilities are named on Pakistan Accord’s first supplier list.
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Marketing
How Luxury Finally Cracked TikTok
Higher-end fashion labels have become more prolific on the short-form video app in 2023. BoF unpacks how brands are growing buzz on TikTok.
Beauty
Beauty TikTok’s Latest Obsessions: Filters Prove Their Relevance
Filters take centre stage on BeautyTok this week, namely the Age, Barbie and Celebrity Makeup Brands filters.
China
BoF Masterclass | Dynamic Journeys: China’s Luxury Shoppers at Home and Abroad
This Masterclass explores how global luxury brands and retailers can adapt to China’s shifting shopping landscape.
Global Markets
Worldview: India’s Jewellery Giants Accelerate International Expansion Plans
This week’s round-up of fashion business news from global markets also features Japanese apparel major Sanyo Shokai, Dubai’s lab-grown diamond sector and Mexico’s beauty services start-up Glitzi.
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China
BoF Insights | Dynamic Journeys: China’s Luxury Shoppers at Home and Abroad
Chinese fashion and beauty customers — long pivotal for the global luxury market — are reshaping how and where they shop, according to BoF Insights’ new report.
Technology
TikTok Rivals Amazon With $20 Billion Shopping Pilot
The social media platform’s shopping program is its fastest-growing feature, with a burgeoning fan base in Southeast Asia.
Global Markets
China’s Shein Denies Filing for IPO in US
Also in this week’s Worldview, De Beers strikes a deal with Botswana over rough diamond production and Lotte Duty Free opens a Korean fashion pavilion in Japan.
Beauty
Beauty TikTok’s Latest Obsessions: New Releases and Old Makeup Techniques
This week, TikTok couldn’t get enough of new products from Rare Beauty and Rhode, E.l.f.’s collaboration with influencer Mikayla Nogueira and the return of “baking.”
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.