Richemont Acquires Italian Jeweller Vhernier
Vhernier is small but Richemont has a history of turning small brands into success stories
The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.
Its flagship brand struggled following the departure of its creative director but better growth was seen at other labels.
Local agencies are signing more models that don’t have classical Han Chinese features with knock-on effects for who gets cast by megabrands in Europe and the US.
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Beauty brands are marketing “athletic skin care” grooming routines and science-backed ingredients alongside high-risk celebrity endorsements.
Property developers are set to build 8 million square metres of retail space in a sign of long-term confidence in the troubled but increasingly competitive market.
A real estate slump, high youth unemployment and lingering anxiety over Covid-19 are some of the factors behind the tepid results from this month’s 618 shopping festival.
The wealthy may be in a mood to splurge but middle-class consumers remain cautious six months after the end of ‘zero-Covid’ policies due to mixed signals in the Chinese economy.
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China’s jewellery market is surging double-digits but in the face of growing competition from local players some international brands are only seeing subdued returns.
The brand known for its traditional and ornate Chinese aesthetic will be one of the first major C-beauty players to go global when it touches down in the US and Japan later this year.
To unleash the full potential of ‘China’s Silicon Valley’ luxury brands must invest more in the vibrant city at its core and better understand the local mindset.
Western brands shifting supply chains away from China hope to reduce disruptions caused by geopolitical tensions but ‘friendlier’ sourcing hubs aren’t always feasible.
Vhernier is small but Richemont has a history of turning small brands into success stories
The company has argued that the law will stifle free speech and hurt creators and small business owners who benefit economically from the platform.
‘We have been and will always be open to considering opportunities,’ Lorenzo Bertelli told reporters Tuesday at the opening of a knitwear factory in Torgiano, Italy.
The online fashion marketplace average order value increased to €60.4 ($65) in the first quarter, from €57.3 a year earlier.
Beauty company Coty beat Wall Street expectations for third-quarter revenue on Monday and said it expects to achieve the high end of its annual targets, riding on steady global demand for its luxury and mass-market products.
A complaint by climate-advocacy group Stand.earth prompted the inquiry.
The new contract includes $3.6 million in wage increases, and eight weeks of severance for laid-off employees, according to a statement from the NewsGuild of New York, the union’s organising body.
The Japanese skincare company has recruited the likes of softball player AJ Andrews and Anna Leigh Waters to reach new audiences and grow awareness.