China news and archive

China's luxury market: Challenges from last year to continue into 2025, ‘flattish’ performance forecasted

A new report by Bain & Company has suggested that “China’s luxury market failed to maintain its previous growth trajectory” throughout 2024, after it experienced an "unexpected and sharp deceleration that worsened throughout the year”. In the report, entitled ‘2024 China Luxury Goods Market’, it was stated that the mainland luxury market saw a...

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China retaliates, claims PVH engaged in 'inappropriate' practices in Xinjiang region

Findings of a preliminary investigation into PVH have alleged that the US fashion giant engaged in improper practices within China’s Xinjiang region, the country’s Ministry of Commerce (MOC) has said. The Tommy Hilfiger parent company is among a number of firms from the US that are claimed to have engaged in “inappropriate conduct” in the...

Fashion Featured

Green is the new black: How Hong Kong aims to fashion a sustainable future

In an era of environmental reckoning, Hong Kong's Fashion Summit 2024 held during its Fashion Fest last month, arrived with the ambitious mandate of transforming sustainable fashion from a niche concept to a mainstream business imperative. The event represented more than a typical industry gathering—it's a strategic repositioning of Hong Kong as...

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What's happening in China, the country that has investors so worried?

China, the world's second-largest economy, is at a turning point as leaders announce monetary easing scheduled for 2025. The aim is to revive an economy that has been reeling from a prolonged crisis marked by weak consumption and growing concerns about deflation. The decision is part of a series of measures aimed at boosting consumption,...

Fashion

Cole Haan names HiMaxx as its exclusive distributor in China

Cole Haan, the American lifestyle brand and retailer of premium men's and women's footwear and accessories, has signed an exclusive distribution agreement with HiMaxx, a membership-based retail company in China. In a statement, HiMaxx, a leading multi-brand outlet for footwear, clothing, accessories, and beauty, said it will launch a new premium...

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US extends import ban to dozens of Chinese companies on forced-labour claims

Dozens more Chinese companies have been added to the US’ growing blacklist for allegedly using forced-labour. The Department of Homeland Security (DHS) has identified a further 29 businesses that it said were using forced Uyghur labour in China’s Xinjiang province to produce goods. As such, these firms are now banned from importing into the US....

Podcast

Podcast: How Indonesia's demand to remove the Temu app impacts global trade

Indonesia recently requested Google and Apple to remove the Temu app, owned by PDD Holdings, from its national app stores to protect local businesses from the sale of extremely cheap products. This direct action, without accusations of illegal activity, is rare and raises questions about how the tech giants will respond. The action could inspire...

Culture

What to know about Asvoff winner 'Made in Italy made by the Chinese'

'Made in Italy by the Chinese' received the award for best Chinese film at the Asvoff fashion film festival, which took place from November 7 to 10, 2024. The documentary tells the story of how Chinese immigrants, mainly from the port city of Wenzhou, appropriated the famous 'Made in Italy' label, which is supposed to glorify the know-how of...

Fashion Featured

Trump's proposed tariffs could change American retail

Stories of retailers bulk buying and allocating greater resources to acquire immediate stock, are just some of the conversations the fashion industry is having in the wake of Donald Trump’s re-election as president and expectations of increased tariffs. With Mr Trump having previously warned he may levy a 60 percent tariff on imported goods from...

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Luxury shares tumble as Richemont posts sales decline

Swiss luxury conglomerate Richemont, owner of such brands as Cartier, Chloe, and Alaïa, experienced a sharp 6 percent drop in its share value this week, after announcing weaker-than-anticipated earnings. The company reported quarterly sales of 2.2 billion euros, falling short of analysts' projections of 2.45 billion euros, with profits marking a...

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Steve Madden to cut Chinese imports by almost half in wake of Trump re-election

The chief executive officer of Steve Madden, Edward Rosenfeld, has told investors that the company could reduce the amount of goods it imports from China by as much as 45 percent in the wake of Donald Trump’s re-election. His comments, which came during a Q3 earnings call, are in regards to Trump’s plan to raise tariffs on Chinese imports by up...

Retail

Manolo Blahnik opens first Mainland China boutique

Luxury footwear and accessories brand Manolo Blahnik is cementing its commitment to China with the opening of its first boutique in the country’s mainland. Located in Shanghai’s Plaza 66, the store was designed by the brand’s CEO, Kristina Blahnik, and draws inspiration from the concept initially used for Manolo Blahnik’s boutique in Burlington...