China
Fashion firms in China spur growth with direct-to-consumer model
Fashion firms in China spur growth with direct-to-consumer model
PwC reveals how the DTC model leverages digital technology to deliver more personalised products, services, and experiences to new-age consumers.
adidas sees ‘better-than-expected’ growth in China despite 9% revenue decline
The company recorded ‘flattish sales’ and a small operating profit overall.
Domino’s Pizza to open over 400 stores in China until 2024
This came after the franchisee in China debuted on Hong Kong Stock Exchange.
Watsons China to open 300 physical stores this year
This will help accelerate its Offline Plus Online platform strategy.
Miniso to expand to four new markets
The company also plans to revamp its stores overseas.
Gen Zs are becoming China’s biggest spenders
21% of these consumers are ready to spend 16% of their income on luxury.
Alibaba splits into 6 business units
Except for Taobao Tmall, the other business can raise outside capital and pursue IPO.
Hot drinks sales growth in China hinges on reopening
The market is expected to expand to $53.9b by 2027, GlobalData reported.
How Japanese brands can capture young Chinese consumers
Brands may bank on Mangas and Animes, GlobalData said.
Bvlgari wants to tap into China’s male fragrances market
The market is projected to surge at a 10% compound annual growth rate between 2023 and 2027.
Alibaba group net income soars over 130% in December quarter
This is despite softer demand as well as supply chain and logistics disruptions.
Tmall launches perfume advising services
Nearly 200 customers tried out the service on its launch.
Luxury retailers to expand China offerings to other festivals: report
Retail sales in the country have generally been stronger during cultural festivities.
Luxury sales in China to rebound to 2021 levels this year
This comes after the luxury market contracted in 2022.
China’s luxury market sees more ‘Very Important Clients’ despite 2022 contraction
VIC sales were higher than the 40% global average, Bain & Company reported.
China’s luxury market contracts by 10% in 2022
This is the first time the market shrunk in the last five years.
Customised, interactive experience key to attracting customers
Brands should offer personal touchpoints to customers, amongst others.
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This has already led to improved click and conversion rates for the group.
