Reports

    China News Brief
    February 27, 2024

    Dior taps Lang Lang as new envoy; Li Bingbing unveiled as Givenchy spokeswoman; Margaret Zhang eyes Hollywood career.
    Lang Lang is set to make music with Dior. Photo: Shore Fire Media

    Dior taps Lang Lang as new envoy#

    Dior yesterday announced  Chinese pianist Lang Lang as its new global brand ambassador and released a series of images featuring him. The brand stated that Lang Lang, who is also a piano teacher and philanthropist, resonates with Dior’s passion for art and music. Lang Lang has 17 million followers on Weibo.

    Li Bingbing unveiled as Givenchy spokeswoman#

    Givenchy yesterday announced  that actress Li Bingbing has become the brand’s new spokeswoman, officially joining the Givenchy family. Prior to this, Li had appeared in the brand’s attire at various events and also appeared in Givenchy’s 2024 Chinese New Year special film Gathering Joy.

    Margaret Zhang eyes Hollywood career#

    According to industry insiders, after leaving Vogue China, 30-year-old Margaret Zhang will sign a contract  with Hollywood talent agency Creative Artists Agency (CAA) as a multifaceted figure in film, including roles as a director, producer, screenwriter, and consultant. CAA is the world's top-ranked elite talent agency, with the Pinault family’s holding company Artemis, owned by Kering Group boss Henri Pinault, holding a 53 percent stake.

    Susan Fang, & Other Stories team up on spring collection#

    In April this year, & Other Stories, a high-end brand under H&M, will collaborate  with Chinese designer Susan Fang to launch a joint collection. Fang stated that the collection draws inspiration from nature, aiming to bring consumers clothing that is dreamy yet suitable for daily wear, intertwining nature, dreams, and surrealism through fashion. The collaborative collection incorporates Susan Fang’s signature design elements, such as laser-cut petals, unique printed patterns, intricate crochet fabrics, and finely tailored British embroidery.

    Charles & Keith, Short Sentence to co-launch capsule collection#

    Charles & Keith has teamed up  with the brand Short Sentence, founded by Chinese designer Guan Lin, to unveil a limited collaboration collection titled “Riding on a Breezy Day” on March 5. This cross-disciplinary collaboration delves into the aesthetics of modern urban life, featuring two bags and one pair of shoes.

    Benefit scaling down in China#

    Benefit, a cosmetics brand under LVMH, is reportedly  scaling back its presence in China, with plans to possibly exit the market by late June, or early July. This comes after the closure of its official flagship stores on Tmall, JD.com, and Douyin in January. The brand’s over-reliance on the Sephora channel and missed opportunities in online cosmetics have hindered its growth. Benefit has confirmed adjustments in its China operations but hasn't confirmed the exit timeline.

    Tsinghua University, Kering launch green fashion MOOC#

    The “Fashion Sustainability: International Perspectives and Chinese Practices for Sustainable Development in the Fashion Industry" MOOC , jointly created by Kering Group, Tsinghua University, and French Fashion Institute, was recently launched. The course covers topics such as the relationship between fashion and the environment, circular economy, product life-cycle, fashion traceability, sustainable fabrics, and technological iteration. It will be freely available to all current university students worldwide and sustainable fashion enthusiasts.

    South Korean tourists flocking to China#

    The number of foreign tourists visiting  China is growing rapidly. The latest data from South Korea shows that the number of South Korean tourists to China in January this year increased ninefold compared to the same period last year. South Koreans have a fondness for Zhangjiajie in Hunan Province. In 2023, the number of inbound tourists to Zhangjiajie was 687,400, with over 280,000 from South Korea. Since the beginning of this year, there has been a significant increase in the demand for urban sightseeing and health and leisure tourism, with South Korean tourists showing a preference for places like Yantai, Shanghai, and Qingdao.

    Tod’s founder touts company’s independence#

    Tod’s founder, Diego Della Valle, has asserted  his commitment to the company’s independence following its privatization through a deal with private equity firm L Catterton. The agreement, backed by LVMH and the Della Valle family, involves purchasing 36 percent of Tod’s and delisting it from public markets. Della Valle, along with his brother, maintains majority control, with Diego tendering a portion of his stake while retaining 54 percent. The deal includes a four-year lock-up period, during which shareholders must offer shares to each other first. Additionally, the Della Valle family holds veto power over selling to competitors and retains influence over leadership and strategic decisions.

    Amouage posts strong results#

    Middle Eastern perfume brand Amouage posted  YoY sales growth of 24% for 2023. In the Asia-Pacific region, Amouage achieved 28 percent YoY sales growth. By the end of December last year, Amouage had opened its first concept store in Zhang Yuan, Shanghai.The strongest markets for Amouage were Oman, the United Arab Emirates, the US, and China, which together contributed over 40 percent of revenue.