Daily Brief

October 15, 2018

TODAY’S TOP FIVE CAN’T-MISS STORIES

  • 1

    How Digital Tools are Helping Brands Reach Chinese Consumers

    “Our sales are slowing down in Europe, even if we have a great media plan focused on premium media that have been long-time partners …” the senior executive of a famous fashion house said to me during a lunch meeting in Paris. My answer was quite simple: “I don’t think your final customers in Europe read French magazines. I believe that your typical client is probably a young woman glued to her smartphone, reading bag reviews on WeChat in Chinese.” Read more on South China Morning Post

  • 2

    Chinese Retailer Icicle Buys Ailing French Couture Label Carven

    Shanghai-based Icicle Fashion Group, a high-end retailer little known outside China, has bought French couture house Carven out of bankruptcy and said on Friday it plans to relaunch the brand which was a favorite of singer Edith Piaf. Read more on Reuters

  • 3

    A Correction or Recession?

    Luxury stocks were among the worst losers as the luxury company LVMH, owner of Louis Vuitton, Christian Dior and Dom Perignon warned of slowing demand for luxury goods in China. The price of LVMH crashed nearly 10 percent in Paris on Wednesday and dragged lower other stocks in this sector. Read more on Nasdaq

  • 4

    Stephen Cheng’s Nuo Capital Invests in Slowear

    An investment vehicle backed by Hong Kong’s Pao Cheng family, Nuo will support the growth of Slowear in Asia with its strong network of private and institutional relationships in the Far East. The value of the operation was not disclosed. Read more on WWD

  • 5

    China National Day Golden Week Retail Sales Hit US$202 bn in 2018

    Total sales of retail and food & beverage enterprises in China amounted to 1.4 trillion yuan (US$202.16 bn). The average daily sales increased by 9.5 percent year-on-year during the week-long (October 1-7) National Day holiday in 2018, according to the Ministry of Commerce. Read more on China Internet Watch