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 …
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China
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 …
Ralph Lauren Beats Profit Estimates on Stable Demand in Europe, China
Ralph Lauren Corp beat first-quarter profit estimates as steady demand for its pricey denims and polo shirts in Europe and China offset slower sales in …
VF Corp Posts Smaller Q1 Revenue Drop Than Expected, on Better China Demand
VF Corp reported a smaller-than-expected drop in first-quarter revenue on Tuesday, helped by improvement in its China business as well as leaner inventory levels, sending …
L’Oréal Refines Its Strategy as US Demand Falters, China Drags
A slight slowdown in beauty spending weighed on L’Oréal’s earnings. In its second quarter results, announced July 30, the world’s biggest beauty company delivered like-for-like …
L’Oréal Q2 Sales Rise but Depressed China Market Weighs
French cosmetics giant L’Oréal reported a 5.3 percent rise in second-quarter sales, below expectations and likely further rattling investors already worried about the lack of …
Op-Ed | Big Luxury Frets That China Is Turning Japanese
Even LVMH Moet Hennessy Louis Vuitton SE, the world’s most resilient luxury conglomerate, is feeling the chill. And as so often, the wind is blowing …
Hugo Boss Plunges After Slashing Outlook on China, UK Demand
Hugo Boss shares plunged to their lowest level since 2021 after the company slashed its profit guidance for the year, citing weakness in key markets …
Richemont Jewellery Sales Solid, Offsetting Drop in China Demand
The Cartier owner reported a sales gain of 1% at constant currencies to €5.3 billion ($5.8 billion). That was in line with analyst forecasts and …
Swatch Shares Plunge as Profit Falls 70% on China Weakness
Swatch Group AG’s shares fell the most in four years after sales and profit plunged amid a China-led slowdown for Swiss watchmakers and other luxury …
Rocco Liu to Lead Vogue China
Rocco Liu has been named editorial director of Vogue China, publisher Condé Nast confirmed. The top job was last held by Margaret Zhang, a divisive …
Week in Review | Whistles CEO Talk, Mass Contemporary in China, Fashion-Tech startups, Closing boom
Jane Shepherdson, Chief Executive Officer, Whistles (CEO Talk) “Perhaps it’s not surprising that, in her spare time, Jane Shepherdson does flying trapeze in Hoxton, smack …
L’Oréal CEO Sees Slower Beauty Market Growth as China Struggles
L’Oréal SA expects slower growth for the overall beauty market this year, according to its CEO, as weakness in China weighs on sales after years …
Novo Nordisk’s Wegovy Approved in China for Weight Loss
China has approved Novo Nordisk A/S’s blockbuster Wegovy for chronic weight management, opening up competition for next-generation obesity drugs in the world’s second-largest economy. China’s …
Nike Bets Its China Comeback on Michael Jordan’s New $1,000 High-Tops
Cashmere ponchos, lambskin bras and $1,000 Air Jordans. A 1,000-square meter retail homage to Michael Jordan in Beijing’s trendiest neighbourhood. Affiliations with China’s domestic basketball …
Beiersdorf Warns of Difficult Quarter Ahead in China
German skin care company Beiersdorf said on Tuesday the luxury skin care market in China has continued to “decline strongly” during the second quarter, but …
Worldview: Why Yoox Net-a-Porter Is Exiting China
🇨🇳 Yoox Net-a-Porter is shuttering its China business. The luxury e-tailer will liquidate Fengmao, its joint venture with Chinese e-commerce giant Alibaba, and cease operations …
Adidas Opens Fraud Probe in China After Whistleblower Letter
The German sportswear company is working with external legal counsel after receiving the letter on June 7, it said in an emailed statement. It’s the …