PDD Holdings Inc.’s shares plunged after warning that its profitability will trend downward over time because of intensifying competition in its home market of China. …
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China
Novo Nordisk Launches Wegovy in China With Prices Well Below US
Novo Nordisk A/S is launching its top-selling Wegovy obesity drug in China at a fraction of the US price, a key step in unlocking a …
Worldview | Singles’ Day Uncertainty Follows China Stimulus Disappointment
🇨🇳 China’s largest e-tailers withhold key Singles’ Day results yet again. Neither of the country’s two largest e-commerce players disclosed gross merchandise value for the …
Alibaba, JD Tout Singles’ Day Highs While China Economy Sags
China’s biggest e-commerce platforms issued a raft of numbers showing robust sales growth during the country’s biggest annual online shopping gala, belying concerns about the …
Shiseido Lowers Full-Year Forecast As China Slump Persists
Shiseido Co. slashed its profit outlook for the year as the Japanese cosmetics giant reported a profit plunge in net income amid a persistent slump …
Estée Lauder Withdraws Guidance, Cuts Dividends on China Uncertainties and New CEO
Estée Lauder Cos. pulled its guidance for the year, citing uncertainty over a new chief executive and weak demand in China. The New York-based company …
A Perfume Brand Asks, ‘What China Downturn?’
Many international fashion and beauty brands are hedging their bets on China, where a faltering luxury market has an economic slowdown. But those warning signs …
Beiersdorf Sales Rise 6.5%; China Still Drags
Nivea maker Beiersdorf reported on Thursday a rise in group sales for the first nine months of 2024, and said it expected a strong fourth quarter, …
L’Oréal Third Quarter Sales Miss Expectations as China Buys Less
French cosmetics giant L’Oréal reported a rise in third quarter sales on Tuesday that missed expectations after low consumer confidence in China sapped demand for beauty …
EssilorLuxottica Sales Slightly Miss on Worsening China Market
EssilorLuxottica SA’s third-quarter revenue slightly missed estimates on the back of a negative performance from sunglasses in North America and worsening economic conditions in China. …
LVMH Investors Jittery Over Anaemic China Demand
Investors in French luxury group LVMH, opens new tab are eager for signs that China’s new fiscal stimulus measures can finally pull wealthy and middle-class …
Luxury Stocks Set for Best Week in Years as China Fuels Revival
The narrative on European luxury-goods stocks has flipped in the space of a week. Under pressure for most of the year due to a slowdown …
LVMH Chairman Wins Big on China Stimulus With $17 Billion Wealth Surge
Bernard Arnault entered Thursday having lost more wealth this year than any other billionaire, with his luxury-goods fortune slumping by $24 billion. Then China’s top …
China Probes Calvin Klein Owner for Alleged Xinjiang Boycott
China said it will investigate US apparel maker PVH Corp. for suspected boycotting of cotton sourced from its Xinjiang region, a probe that could lead …
Zegna CEO Still Betting on China Despite Uncertain Growth
Ermenegildo Zegna, the Italian fashion house listed in New York, is sticking with its expansion plans for China over the medium term despite uncertain timing …
Gucci-Owner Kering Slumps to 2017 Low on China Demand Fears
French fashion designer Kering SA slumped to a seven-year low on worries about demand in China, with the Gucci brand owner among the worst-hit stocks …
Tiffany to Downsize China Flagship as Spending Dives
Tiffany & Co., LVMH’s leading jewellery maker, is planning to downsize a flagship store of more than 12,000 square feet in Shanghai, people familiar with …
LVMH’s Sephora Cuts Around 10% of Staff in China as Woes Deepen
Cosmetics retailer Sephora is cutting hundreds of staff in China, according to people familiar with the matter, as one of LVMH’s biggest brands tries to …
Walmart Sells $3.74 Billion JD.com Stake to Focus on Its Own China Operations
Walmart, the biggest shareholder of Chinese e-commerce firm JD.com, has sold its entire stake, according to a person familiar with the matter, exiting an eight-year …
Estée Lauder Sees Annual Sales Below Estimates on China Weakness
Estée Lauder is forecasting annual revenue growth below analysts’ expectations, a sign that the cosmetics company’s long-awaited recovery has hit another roadblock. The company said …