Swiss Watch Exports Jump in April Ahead of Threatened US Tariffs
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
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.
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.
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.
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.
A new generation of Chinese fashion designers are extending their international footprints beyond western markets, tapping sourcing hubs in India and Turkey and retailers from Dubai to Mexico.
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From sportswear giants Anta and Peak to cosmetic brands Maogeping and Chando, Chinese companies placed their marketing bets on team uniforms, athlete endorsements and themed products.
The sportswear giant is betting on Jordan brand’s latest ‘World of Flight’ retail concept in Beijing to kickstart sales in the region, amid increasing competition from home grown players Anta and Li-Ning.
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.
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.
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Wholesalers and online platforms like Dewu have taken a larger share of China’s growing grey-market for luxury goods — formerly dominated by individual sellers.
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.
This week’s round-up of global markets fashion business news also features Russian diamonds, Botswana’s gem trading investment and India’s Diwali fashion ads.
Luxury brands are betting on store upgrades, tax-free shopping and VIC strategies to drive sales in China, writes Pierre Mallevays.
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
The mass brand will raise prices in August.
The eponymous Barcelona-based avant garde menswear label confirmed it has ceased operations.
The European Union is considering a handling fee for low-value e-commerce packages, primarily from platforms like Shein and Temu, to address a surge in volume and ensure compliance with EU regulations.
The shoe maker’s first-quarter net sales rose 6.5 percent off strong demand for Hoka footwear.