De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
china / Economy
China
Trump Extends China Truce for 90 Days, Averting Tariff Hike
Had the truce not been extended through Nov. 10, US tariffs on Chinese goods would have jumped to at least 54% starting on August 12.
Trump Extends China Truce for 90 Days, Averting Tariff Hike
Had the truce not been extended through Nov. 10, US tariffs on Chinese goods would have jumped to at least 54% starting on August 12.
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.
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.
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.
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.
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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.
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
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.
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.
China
Redrawing China’s Fashion Retail Map
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
Redrawing China’s Fashion Retail Map
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
China
How Worried Should Fashion Be About China’s Weakened Economy?
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.
How Worried Should Fashion Be About China’s Weakened Economy?
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.
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Global Markets
Worldview: Why Japan’s Sogo & Seibu Department Store Employees Went on Strike
This week’s round-up of global markets fashion business news also reveals the succession plan for an Indian retail billionaire, Kenya’s strategy to revitalise its textile industry and forced labour in Turkmenistan’s cotton harvest.
Worldview: Why Japan’s Sogo & Seibu Department Store Employees Went on Strike
This week’s round-up of global markets fashion business news also reveals the succession plan for an Indian retail billionaire, Kenya’s strategy to revitalise its textile industry and forced labour in Turkmenistan’s cotton harvest.
Global Markets
Worldview: China’s JD.com Beats Q2 Revenue Estimates
This week’s round-up of global markets fashion business news also features pan-African e-commerce major Jumia, the Kuwaiti venture of UAE-based Apparel Group and a wage hike for Cambodian garment workers.
Worldview: China’s JD.com Beats Q2 Revenue Estimates
This week’s round-up of global markets fashion business news also features pan-African e-commerce major Jumia, the Kuwaiti venture of UAE-based Apparel Group and a wage hike for Cambodian garment workers.
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.
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.
Luxury
How to Tap China’s Luxury Market As Recovery Falters
Luxury brands are betting on store upgrades, tax-free shopping and VIC strategies to drive sales in China, writes Pierre Mallevays.
How to Tap China’s Luxury Market As Recovery Falters
Luxury brands are betting on store upgrades, tax-free shopping and VIC strategies to drive sales in China, writes Pierre Mallevays.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.