Bruce Nordstrom, Former Retail Chair, Has Died
Nordstrom was instrumental in the Seattle department store chain’s expansion and 1971 initial public offering.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
After a lacklustre 2023, recovery may be on the horizon for established and independent lines alike.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.
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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.
The LVMH-owned cosmetics line is shuttering much of its e-commerce presence on Jan. 28.
While the economic woes have certainly weighed on sales, analysts say the main issue facing the multinationals is their slowness to adjust to the shifting priorities of consumers, who have become more discerning about what they buy and are increasingly finding that local brands are more suited to their needs.
While the economic woes have certainly weighed on sales, analysts say the main issue facing the multinationals is their slowness to adjust to the shifting priorities of consumers, who have become more discerning about what they buy and are increasingly finding that local brands are more suited to their needs.
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.
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China’s largest e-commerce player Alibaba Group said it recorded year-on-year growth over this year’s Singles Day sales period that ended at midnight on Saturday, while rival JD.com reported sales volumes at a record high.
China’s largest e-commerce player Alibaba Group said it recorded year-on-year growth over this year’s Singles Day sales period that ended at midnight on Saturday, while rival JD.com reported sales volumes at a record high.
In the key China market, sports stars are an increasingly popular choice for luxury brands aiming to broaden their appeal while limiting their exposure to scandal-prone entertainers.
At the latest edition of China’s top fashion week, brands adapted their designs for a more value-minded shopper as retail buyers prepared for a softer local market.
DFS is making “an unprecedented investment” in the 128,000-square meter project, which will open by 2026 and feature over 1,000 luxury brands including those from LVMH Moet Hennessy Louis Vuitton SE, the firm said in a statement.
Nordstrom was instrumental in the Seattle department store chain’s expansion and 1971 initial public offering.
“This has been by far one of the hardest and most important decisions I have ever made,” the sustainability-focused designer said in an Instagram post.
Carter joins the company from makeup artist Danessa Myricks’ namesake cosmetics label, where she was CMO.
The companies are the latest additions to the Uyghur Forced Labor Prevention Act Entity List that restricts the import of goods tied to what the US government has characterised as an ongoing genocide of minorities in China’s Xinjiang region.
Craig Green, Ottolinger and Louis Gabriel Nouchi have been tapped to design for the fifth edition of the project by Netherlands-based tannery Ecco Leather, now known as Ecco.Kollektive.
London-based womenswear brand Chopova Lowena has been named the winner of the 2024 BFC/Vogue Designer Fashion Fund.
The Toronto-based company reported revenue of C$358 million ($263 million) for the fiscal fourth quarter.
The likelihood of a successful Burberry turnaround is limited in the near term, UBS Group AG analyst Zuzanna Pusz wrote in note.