Reports

    China News Brief
    January 17, 2024

    Chanel exhibit heads to Shanghai, Lululemon debuts on Douyin, Uniqlo sues Shein and more of the latest
    LVMH-owned Chaumet appoints a new CEO

    Chaumet Appoints Charles Leung as CEO #

    French high-end jeweler Chaumet, under LVMH, has appointed Charles Leung as CEO . Leung, previously pivotal in Chaumet’s Asia-Pacific expansion and ex-CEO of LVMH’s Fred Paris, has rejoined. He initiated a Tmall flagship store to enhance Chaumet’s online presence in China, augmenting its brick-and-mortar network and catering especially to the youth.

    Chanel's "Gabrielle Chanel. Fashion Manifesto" exhibit heads to Shanghai #

    The comprehensive exhibition, "Gabrielle Chanel. Fashion Manifesto," chronicling Gabrielle Chanel's journey, is set to grace Shanghai’s Power Station of Art from July 12 to November 24, 2024. Showcasing pieces from Chanel, Gabrielle Palace, and various collections, it delineates the brand's evolution, Chanel’s distinct design language, and her enduring fashion legacy.

    China's economy marks 5.2% growth in 2023, Premier Li reports #

    China's economy expanded by 5.2% in 2023, slightly surpassing government projections, stated Premier Li Qiang at Davos. Although an improvement from 2022's 3%, it's among the slowest rates in decades, barring pandemic years. Addressing challenges like a housing crisis and aging demographics, Li highlighted China's potential, citing a robust middle-class, consumption patterns, and infrastructure investment prospects. He assured of fostering a conducive climate for foreign investments amidst global scrutiny.

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    Pharrell Williams' LV shows Western flair in Paris #

    Pharrell Williams, as Louis Vuitton’s menswear creative lead, presented a Western-themed line at Paris Fashion Week . The collection, showcasing cowboy aesthetics with rhinestones, denim, and Native American motifs, attracted stars like Bradley Cooper, Omar Sy, and rappers Playboi Carti and Pusha T. The show took place in a hangar near the Louis Vuitton Foundation art museum in Paris and concluded with Williams performing alongside Mumford and Sons and Native American musicians.

    Uniqlo sues Shein for imitating viral bag #

    Uniqlo has sued Shein,  claiming it copied Uniqlo’s famed "Mary Poppins" bag, potentially tarnishing its brand. The bag, celebrated on TikTok for its spaciousness, is Uniqlo’s top-seller. Uniqlo demands Shein halt sales and seeks damages. Amidst its rapid growth, Shein now faces legal challenges over alleged imitation.

    Lululemon debuts on Douyin with Michelle Yeoh campaign #

    Lululemon inaugurated its flagship store on Douyin , featuring a spring themed short film with Oscar-winning actress Michelle Yeoh and a "Wing Chun" dance troupe, introducing a limited edition 2024 Chinese New Year line. Despite a strong offline revenue base, Lululemon's direct-to-consumer segment is witnessing substantial growth in China, with notable online presence on Tmall, JD.com, and Douyin.

    Hugo Boss stock dips amid profit shortfall #

    Hugo Boss shares dropped 11% as its Q4 operating profit of €121 million missed expectations  by €8 million, despite a 13% sales hike and a 33% revenue surge in Asia-Pacific. Investor concerns about safeguarding profit margins in a challenging economic backdrop contributed to the decline, echoing broader luxury and apparel industry slowdowns.

    Estée Lauder triumphs in biometric privacy case #

    Estée Lauder and its cosmetics brands, including Bobbi Brown, Smashbox, and Too Faced, successfully avoided a class action suit alleging its virtual "try-on" tool breached Illinois’ biometric privacy law.  Judge Lindsay Jenkins ruled in favor of Estée Lauder, citing no substantial link between facial scans and customer identities. The suit accused Estée Lauder of not disclosing biometric data collection via its virtual tool. Additionally, Perfect Corp, the tool’s developer, was cleared due to insufficient Illinois connections.