Is Harrods’ Expansion into China a Game-Changer for the Luxury Industry? As mainland China is becoming a more important market for luxury shopping, Harrods, London’s most iconic department store, will open a new private member’s club in Shanghai at the end of 2023 in a bid to appeal to the country’s ultra-rich consumers. Harrods, the … Read more
Antoine Arnault Becomes CEO of LVMH Holding Company The second-oldest son of billionaire Bernard Arnault is replacing the 71-year-old Sidney Toledano as chief of Christian Dior SE, the investment vehicle through which the Arnault family controls luxury goods conglomerate LVMH. Read here. What Will China’s Looser Covid Restrictions Mean for Fashion? This week, China rolled … Read more
The luxury industry faces a challenge like never before. The luxury market will face a difficult year ahead: Bain & Company expects that for the full year 2020, the market could contract between 20-35 percent, depending on the speed of the recovery. After falling by an estimated 25 percent in the first quarter … Read more
“This game-changing partnership between Richemont, Alibaba and YOOX NET-A-PORTER unites three world leaders who together are redefining the way Chinese customers shop for luxury.” The partnership between Alibaba and YOOX NET-A-PORTER is bringing Chinese consumers unprecedented access to the world’s leading luxury brands Richemont and Alibaba Group announced the opening of the NET-A-PORTER … Read more
Alibaba Group’s Tmall wants to cultivate fashion talent and the growing creative culture in China. Alibaba Group’s Tmall, China’s premier B2C platform for brands and retailers, announced its new partnership with New York Fashion Week (NYFW): The Shows. The partnership will bring both top and emerging Chinese designers to NYFW … Read more
In the wake of the outcry over Dolce & Gabbana’s recent ad campaign, the Business of Fashion China Prize aims to help launch new Chinese designers – and challenge western prejudice