Temu-Owner PDD Holdings Misses Quarterly Revenue Estimates
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
china / Tech
Instagram-Like Xiaohongshu Makes Inroads with E-Commerce Sales
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.
TikTok’s New Amazon Copycat Is Full of Cheap Chinese Goods
The app’s Shop feature, which has gone live for some US users, is plagued by the same problems with a free-for-all marketplace Amazon has faced.
The Asian Retailer Outgunning Amazon and Walmart in South Africa
Shein, founded in China, is gaining a foothold in a nascent e-commerce market in the most industrialised country in Africa and is squaring up to US giants Walmart Inc. and Amazon.com Inc., who want to do the same.
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.
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How Luxury Finally Cracked TikTok
Higher-end fashion labels have become more prolific on the short-form video app in 2023. BoF unpacks how brands are growing buzz on TikTok.
Beauty TikTok’s Latest Obsessions: Filters Prove Their Relevance
Filters take centre stage on BeautyTok this week, namely the Age, Barbie and Celebrity Makeup Brands filters.
BoF Masterclass | Dynamic Journeys: China’s Luxury Shoppers at Home and Abroad
This Masterclass explores how global luxury brands and retailers can adapt to China’s shifting shopping landscape.
Worldview: India’s Jewellery Giants Accelerate International Expansion Plans
This week’s round-up of fashion business news from global markets also features Japanese apparel major Sanyo Shokai, Dubai’s lab-grown diamond sector and Mexico’s beauty services start-up Glitzi.
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BoF Insights | Dynamic Journeys: China’s Luxury Shoppers at Home and Abroad
Chinese fashion and beauty customers — long pivotal for the global luxury market — are reshaping how and where they shop, according to BoF Insights’ new report.
TikTok Rivals Amazon With $20 Billion Shopping Pilot
The social media platform’s shopping program is its fastest-growing feature, with a burgeoning fan base in Southeast Asia.
China’s Shein Denies Filing for IPO in US
Also in this week’s Worldview, De Beers strikes a deal with Botswana over rough diamond production and Lotte Duty Free opens a Korean fashion pavilion in Japan.
Beauty TikTok’s Latest Obsessions: New Releases and Old Makeup Techniques
This week, TikTok couldn’t get enough of new products from Rare Beauty and Rhode, E.l.f.’s collaboration with influencer Mikayla Nogueira and the return of “baking.”
The News in Brief
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.
Italy’s Fashion Brands Sign Accord to Fight Worker Exploitation
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.
EU Warns Shein of Fines in Consumer Protection Probe
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
Trump Extends Deadline for 50% Tariffs on EU Goods to July 9
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.
E.l.f. Beauty Announces $1 Price Hike, Citing Inflation and Tariffs
The mass brand will raise prices in August.
Boris Bidjan Saberi Is Shutting Down Operations
The eponymous Barcelona-based avant garde menswear label confirmed it has ceased operations.
EU Plans €2 Fee for Low-Value Parcels in Setback for Shein and Temu
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.