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Beijing’s Covid-19 policy shift will give the sector a boost in 2023 but a surge in infections and sluggish economic growth could dampen the recovery after an uplift from Chinese New Year.
Tiffany Ap is Senior Correspondent at The Business of Fashion. She is based in New York and covers marketing and the critical China market.
An emerging narrative this earnings season is that China’s troubled fashion market is stabilising. This week’s results will put that theory to the test.
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.
The once-promising Chinese travel retail market is showing little signs of recovery, causing global beauty giants to reevaluate their strategies and reduce promotions.
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.
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Beauty brands must rethink upselling with smarter value plays, from curated bundles to jumbo sizes and subscriptions, to keep their customers from switching to the competition.
Check out this week’s new partner and job openings on BoF Careers, the global marketplace for fashion and beauty talent.
