Daily Brief

June 2, 2020

TODAY’S TOP FIVE CAN’T-MISS STORIES

  • 1

    Prada Says May Sales Are Up 10 Percent in China

    Prada is seeing a rebound in sales as it saw an increase of more than 10 percent in China this month. Read more on Fashion United

  • 2

    ‘At a Turning Point’: China Beauty Brick-and-Mortar Stores Will Recover If Retailers Reinvent Themselves

    China’s retail sector took a dire hit this year due to the novel coronavirus (COVID-19) outbreak but one industry expert believes we have not seen the back of beauty in brick-and-mortar if it learns to adapt quickly to the times. Read more on Cosmetics Design Asia

  • 3

    World Leaders React to China’s Controversial National Security Bill in Hong Kong

    China on Thursday approved a controversial proposal to impose a national security law for Hong Kong, reigniting concerns over the financial hub’s diminishing freedoms. The law will effectively bypass Hong Kong’s legislature, and raises concerns over whether it is a breach of the Chinese city’s autonomy, which was promised under the “one country, two systems” principle. Read more on CNBC

  • 4

    China’s Retail Sector Begins Long and Winding Recovery

    Weeks after China lifted its lockdowns to mitigate the spread of the coronavirus, there’s a sliver of hope for the country’s retail sector. According to data from China’s National Bureau of Statistics (NBS), April retail sales rebounded to -7.5%. While still negative, it’s an increase from -15.8% in March and certainly a change from the sharp fall to -20.5% in the first two months of the year. Read more on eMarketer

  • 5

    Europe’s Luxury Stores Making Few Sales With No Tourists Visiting and Local Shoppers Thin On The Ground

    As European luxury shopping capitals, from Paris to Milan, slowly emerge from coronavirus lockdown, stores are reopening to a trickle of customers, and virtually no tourists. Read more on South China Morning Post