Mainland China Closures Dent Burberry Growth in Key Holiday Period

18 Jan

LONDON – COVID-19 disruption in China took a bite out of Burberry’s growth in the important thing holiday trading period, with third-quarter retail revenue flat at constant exchange, and up 5 percent at reported rates. Retail revenue was 756 million kilos within the 13 weeks ended Dec. 31, compared with 723 million kilos within the corresponding period last yr. Comparable store sales were up 1 percent, compared with 7 percent within the corresponding period last yr. In mainland China, certainly one of Burberry’s biggest markets, sales were down 23 percent attributable to lockdowns and the country’s later decision to chill out COVID regulations throughout the period. Outside mainland China, comparable stores sales advanced 11 percent with the EMEIA region, Japan, South Korea and South Asia-Pacific...

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2 Jan

China Responds To Death Of Iconic Designer And Taoist

by Beauty Tips

Fashion, Featured

China Responds To Death Of Iconic Designer And Taoist

What Happened: The world has been mourning the death of famed clothier, activist, cultural maven and elegance icon Vivienne Westwood since December 29. Dubbed “the high priestess of punk,” she reportedly died peacefully, surrounded by family in South London at age 81. Spiritually, she considered herself a Taoist, famously penning, “There was never more need for the Tao today. Tao gives you a sense that you simply belong to the cosmos and provides purpose to your life; it gives you a way of identity and strength to know you’re living the life you may live and subsequently must be living: make full use of your character and full use of your life on earth.” Almost every big name in fashion, including Nick...

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23 Dec

No. 3: China Lockdowns Dent Luxury Spending, Brands Look

by Beautifaire101

Beauty, Featured

No. 3: China Lockdowns Dent Luxury Spending, Brands Look

The Chinese fashion and luxury market has had a rough yr. Waves of strict lockdowns throughout 2022, especially the two-month-long one in Shanghai, wreaked havoc on fashion spending. Within the six months that ended June 30, LVMH Moët Hennessy Louis Vuitton said it saw significant gains in Europe and the U.S. but experienced “severe double-digit declines” in China. Kering Group, whose sales rose 23 percent year-over-year in the primary half, concluded that the Chinese market was “improving but still unstable” after a powerful global retail performance that offset losses within the second quarter in China. Compagnie Financière Richemont’s jewelry division grew greater than expected in the primary half to Sept. 30 but in addition witnessed double-digit sales declines in China. Swiss...

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16 Dec

Armani Beauty Debuts Global Flagship in China – WWD

by Beautifaire101

Beauty, Featured

Armani Beauty Debuts Global Flagship in China – WWD

PARIS — Armani beauty has just opened a latest high-tech, high-touch global flagship, called Armonia, in Shenzhen, China. Situated within the One Avenue mall, the immersive, 3,230-square-foot retail space is supposed to bring forth and reflect harmony — armonia, in Italian — and mindful beauty. Those are on the core of the luxurious brand’s identity and purpose, in line with Véronique Gautier, Armani beauty global president, at L’Oréal. “[Armani’s] natural sophistication permits you to reveal who you might be — this inner self, inner power,” she said. For the flagship, the brand conceived quite a few latest ways for people to disconnect from day by day life’s hubbub and reconnect with themselves. The thought is for them to seek out their very own...

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