Vietnam’s Largest Listed Jeweller Forecasts Loss After Diamond Scandal
PNJ also plans to slash its revenue target. Losses in 2026 are expected as a result of a huge provision for customer buybacks following a smuggling scandal.
Global Markets
A guide to unlocking opportunity in emerging and frontier fashion markets.
Op-Ed | China’s Cult of the Ordinary Commands Big Influence
A new breed of sarcastic, skeptical online influencers from China’s “diaosi” (“loser”) subculture could impact the country’s fashion market, says Eleah Lubatkin.
Thai Retailers Gear up for $50 Billion Government Stimulus
Thailand is expecting a record 32 million tourists this year — good news for the country's luxury retailers.
Russian Online Retailer Ozon Says Sales Growth Stumbles
Russian online retailer Ozon forecast on Wednesday a more modest increase in sales this year, anticipating consumers will remain cautious about their spending in a weakened economy.
A Populist Approach at Seoul Fashion Week
Featuring celebrity endorsements, accessible price points and a mega-watt K-pop soundtrack, South Korea’s designer showcase wrapped up this weekend in a heady mix of fanfare meets fan culture.
India Startups Counting on Rural Reach to Boost E-Commerce
Within the last decade, India has gone from having barely any mobile-phone coverage to the world’s fastest-growing smartphone market.
Watchmaker Tudor Says Hong Kong Market Could Get Even Worse
Tudor, Rolex’s sister brand, said the Hong Kong market may get worse as rich Chinese shop for luxury goods in markets with lower prices.
Infibeam Plans to Raise as Much as $81 Million in E-Commerce IPO
Infibeam Incorporation Ltd. plans to raise as much as 5.4 billion rupees ($81 million) in an initial public offering as it becomes the first of India’s high-profile online retailers to proceed to a share sale.
Lippo Partners With GrabTaxi to Expand E-Commerce in Indonesia
Indonesia's Lippo Group will partner with GrabTaxi Holdings Pte for e-commerce deliveries in Southeast Asia’s largest economy.
Swiss Watchmakers Face Another Challenging Year
Swiss watchmakers are braced for another difficult year as economic woes in major markets curb consumers' appetite for pricey timepieces, industry executives said on Thursday.
Billionaire Henry Sy, Lazada Team Up on Philippine Online Retail
Billionaire Henry Sy has partnered with an online retailer backed by Germany’s Rocket Internet SE to target the rising number of consumers in the Philippines who shop using the Internet.
How Conservative Fashions Made a Turkish Shepherd a Billionaire
Waikiki has built Turkey’s most successful fashion brand by selling styles that appeal to observant Muslims without alienating secular buyers.
Bounce Back Amid Industry Shake-Up
Both the Savigny Luxury index (“SLI”) and the MSCI World Index (“MSCI”) bounced back in February, buoyed by firmer oil prices and strong US jobs data.
THE NEWS IN BRIEF
Chanel Plans to Keep Investing in China Despite Demand Downturn
CEO Leena Nair pointed to the brand’s recent renovation of its Plaza 66 boutique in Shanghai, calling China ‘a market where the clients understand sophistication, refinement.’
Fashion Empire Azzas 2154 to Split Two Years After Failed Merger
Both companies that previously comprised one of Brazil’s largest apparel exporters will retain a stake in Farm Rio after separating.
Indian Fashion Retailer Purple Style Labs Plans IPO
The Bollywood star-backed company behind multi-brand retailer Pernia’s Pop-Up Shop will launch its share sale next week as it taps demand for luxury wedding and occasion wear.
Trump Picks White House Ally Overton to Lead Embattled FDA
The US president chose an ally to steady an agency shaken by staff losses, low morale and fights over vaccines and drug approvals.
Russian E-Tailer Wildberries Hit by Wave of Ukrainian Drone Strikes
The e-commerce giant has seen at least 20 warehouses attacked since mid-July as Kyiv steps up strikes inside Russia and Moscow intensifies its bombardment of Ukraine, more than four years into its full-scale invasion.
Adidas Shares Plunge After World Cup Spend Dents Profit
Shares in the company fell the most on record after its marketing outlay for the World Cup resulted in lower-than-expected quarterly profit.
Chinese Jeweller Laopu Gold’s Shares Drop on Growth Outlook
The jeweller lost $2.1 billion in market value after forecasting first-half 2026 revenue growth of up to 66 percent, a sharp slowdown from last year that unsettled investors in one of China’s most viral consumer brands.