Prada Cuts Ties With Over 200 Suppliers After Labour Abuse Audit
Since the audit began in 2020, the Milanese fashion group found that more than a quarter of suppliers and subcontractors inspected had broken compliance rules.
Beijing, China
Global Markets
China Luxury Market Forecast to Rebound in 2026, Bain Says
The consultancy expects a ‘modest’ expansion of the mainland luxury market this year but warned that recovery would be fragile and uneven across brands and categories.
China Luxury Market Forecast to Rebound in 2026, Bain Says
The consultancy expects a ‘modest’ expansion of the mainland luxury market this year but warned that recovery would be fragile and uneven across brands and categories.
Global Markets
China’s Golden Week Holiday Spending Falls in Latest Red Flag for Economy
Average spending during the recent Golden Week holiday dipped to a three-year low, indicating continued weak consumer confidence amidst various economic pressures.
China’s Golden Week Holiday Spending Falls in Latest Red Flag for Economy
Average spending during the recent Golden Week holiday dipped to a three-year low, indicating continued weak consumer confidence amidst various economic pressures.
China
Harrods Opens Second China Outpost
The British luxury department store institution has opened its second iteration of The Residence, as it calls its invitation-only culture, events and personal shopping spaces in China.
Harrods Opens Second China Outpost
The British luxury department store institution has opened its second iteration of The Residence, as it calls its invitation-only culture, events and personal shopping spaces in China.
Technology
Alibaba Leads Chinese Internet Selloff Approaching $260 Billion
The move comes after Beijing issued regulations designed to curb the growing influence of internet-sector leaders.
Alibaba Leads Chinese Internet Selloff Approaching $260 Billion
The move comes after Beijing issued regulations designed to curb the growing influence of internet-sector leaders.
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Luxury
Luxury Brands Bank on a Raring China Market
The economic uncertainty caused by the pandemic means high-end brands now depend more than ever on Chinese consumers for sales.
Luxury Brands Bank on a Raring China Market
The economic uncertainty caused by the pandemic means high-end brands now depend more than ever on Chinese consumers for sales.
Luxury
China Luxury Spend Expected to Jump 30 Percent This Year
It’s the only bright spot for the luxury industry, which is otherwise poised to see worldwide spending shrink 45 percent in 2020.
China Luxury Spend Expected to Jump 30 Percent This Year
It’s the only bright spot for the luxury industry, which is otherwise poised to see worldwide spending shrink 45 percent in 2020.
Technology
TikTok Removes 104 Million Videos for Violating Guidelines
The social media giant started fact-checking in the first half of the year to verify content related to the coronavirus and elections.
TikTok Removes 104 Million Videos for Violating Guidelines
The social media giant started fact-checking in the first half of the year to verify content related to the coronavirus and elections.
Retail
JD.Com Reports Quarterly Revenue Above Estimates
The Chinese e-tailer's net product revenue, which includes online retail sales, rose 33.5 percent to $25.67 billion.
JD.Com Reports Quarterly Revenue Above Estimates
The Chinese e-tailer's net product revenue, which includes online retail sales, rose 33.5 percent to $25.67 billion.
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Retail
Report: JD to Raise $3.9 Billion in Hong Kong Listing
The e-commerce company priced 133 million new shares at HK$226 each, according to people familiar with the matter, making it the second-largest listing this year after Beijing-Shanghai High Speed Railway.
Report: JD to Raise $3.9 Billion in Hong Kong Listing
The e-commerce company priced 133 million new shares at HK$226 each, according to people familiar with the matter, making it the second-largest listing this year after Beijing-Shanghai High Speed Railway.
Technology
JD.Com Beats Revenue Estimates on Lockdown Boost
Total net revenue rose 20.7 percent to 146.21 billion yuan ($20.59 billion) in the first quarter ended March 31.
JD.Com Beats Revenue Estimates on Lockdown Boost
Total net revenue rose 20.7 percent to 146.21 billion yuan ($20.59 billion) in the first quarter ended March 31.
China
After Coronavirus, Young Chinese Consumers Are Selling Their Goods
Many Gen-Z and Millenial shoppers are offloading possessions and embracing a new-found less-is-more attitude.
After Coronavirus, Young Chinese Consumers Are Selling Their Goods
Many Gen-Z and Millenial shoppers are offloading possessions and embracing a new-found less-is-more attitude.
Retail
Report: JD.com to File for $2 Billion Hong Kong Second Listing
The e-commerce platform's potential listing could come as early as the second half of the year.
Report: JD.com to File for $2 Billion Hong Kong Second Listing
The e-commerce platform's potential listing could come as early as the second half of the year.
The News in Brief
Indian E-Commerce Firm Meesho’s Quarterly Loss Spikes as It Ramps Up Marketing
Meesho has carved out a niche for itself by offering low-priced products without charging sellers a commission.
Swatch Gives Upbeat Growth Outlook After Second-Half Rebound
The owner of Omega and Longines said positive sales momentum that accelerated over the fourth quarter continued in January across all price ranges, with CEO Nick Hayek flagging a pickup in China.
Church & Dwight Exceeds Outlook On Stronger Sales
The personal care giant cited Hero acne products and the 2025-acquisition of Touchland hand sanitiser as growth drivers.
Astra Signs Obesity Drug Deal in China Worth Up to $18.5 Billion
AstraZeneca agreed to pay Chinese company CSPC Pharmaceutical Group Ltd. as much as $18.5 billion for its obesity drug candidates, as the UK drugmaker tries to push into the growing weight-loss market.
Givaudan Sales Slowdown Sends Fragrance Maker’s Shares Falling
The Swiss firm missed expectations for yearly organic sales growth on Thursday, as weaker performance of its flavours business outweighed resilient growth in fine fragrances.
Winter Games in Italy Attract Luxury Brands Seeking Global Stage
Luxury fashion brands are seeking to capitalise on the Milano Cortina Winter Olympics, opening boutiques, sponsoring teams and launching collections.
Saks Will Close Most Off 5th Stores With Big Clearance Sales
The bankrupt department store operator will focus instead on its luxury offerings at Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman chains.