BEIJING, China — European luxury stocks slumped across the board on Tuesday on fears that the coronavirus virus outbreak in China could hurt sales of high-end brands that had managed to weather months of protests in Hong Kong. Chinese shoppers account for 35 percent of global luxury goods sales and 90 percent of last year’s […]
Gucci Targets China's Tier Two Cities
BEIJING, China — China may have helped create the world’s biggest shopping event online, but for Gucci’s owner, physical stores are still the way to go in the most populous country. A total of 14 new outlets are being planned for five of its brands across six Chinese cities including Dalian and Wuhan, according a note […]
Bulgari CEO Sees China Jewellery Sales Rising Despite Slowing Economy
BEIJING, China — Bulgari SpA plans to add stores in China, saying jewellery sales there could potentially double over the next five years as it dodges a broader slowdown in the world’s second largest economy. “Year after year a huge upper middle class is getting out of universities, reaching the job market, and getting discretionary money,” […]
Tricky Time to Invest in Chinese Assets
Hello BoF Professionals, welcome to our latest members-only briefing. China’s colossal size and dynamism makes it a top priority for any global business, but it remains opaque to many in the fashion industry. Leveraging our rare access and local knowledge, the BoF China team demystifies the Chinese market with weekly industry analysis and the wider […]
JD.Com CEO Released Following Arrest Over Alleged Sexual Misconduct
BEIJING, China — The founder and chief executive of Chinese e-commerce giant JD.com Inc, Richard Liu, was arrested in the US state of Minnesota on a charge of criminal sexual conduct and later released, a county sheriff’s department jail roster showed. The charge against Liu, 45, was made just before midnight local time on Friday, […]