Reports

    China News Brief
    March 04, 2024

    Gucci hikes prices in China; Versace, Givenchy appoints new ambassadors; Questions surround Louis Vuitton store opening.
    Following in the footsteps of Hermès, Chanel and Louis Vuitton, Gucci is increasing the prices of its products in China. Photo: Gucci

    Gucci hikes prices in China#

    Gucci has increased  the prices of some of its products in China. On March 1, a customer service representative from Gucci’s flagship store on Taobao stated that, due to increasing raw material costs, the company has passed on costs to consumers. A comparison reveals that the prices for some popular bags such as the Marmont Supermini have increased by over 1,100 RMB ($172), a hike of over 10 percent.

    Versace appoints new scent envoy#

    On March 1, Versace announced  actor Bai Jingting’s appointment as global ambassador for its fragrances, and released a new commercial for the Eros fragrance series. The brand said Bai’s distinctive personal style and confidence resonate with its philosophy. The star has appeared in the films Yesterday Once More and Unique Way, and TV series Ping Pong and Rush to the Dead Summer.

    Givenchy names makeup rep#

    Givenchy Beauty on March 1 announced  singer and actor Fan Chengcheng as the brand’s makeup ambassador. They unveiled a new advertisement, showcasing products such as the Prisme Libre loose powder, Le Rouge lipstick, and Teint Couture foundation. Fan, 23, is an ex member of the boy group Nine Percent, and a former member of boy group Next. Since last year, he has been a cast member of the Keep Running variety show.

    Questions surround Louis Vuitton store opening#

    Netizens on social media have recently reported  that barricades surrounding what was to be a Louis Vuitton store in Hainan Haikou’s Mixc Shopping Mall have been removed, leading to speculation that the store opening might have been canceled. In April last year, barricades were erected around two floors of shops in Haikou’s Wanda Plaza, with signs reading “Louis Vuitton coming soon.”

    Puma unveils Women’s Day campaign#

    Puma has invited  women from various fields who are passionate about sports, including footballer Yao Wei, musician Zhao Meng, and blogger Niu Yu, to interpret the confident and diverse power of women. In conjunction, Puma will launch a series of trendy items that combine sports functionality and fashion.

    China relaxes payment rules for tourists#

    China’s central bank is making  another push to slash barriers facing foreign visitors using the country’s mobile payment services, in the latest effort to revive the tourism market. The People’s Bank of China has guided major payment platforms including Ant Group’s Alipay and Tencent Holdings’s Tenpay — the operator of WeChat Pay — to increase the single transaction limit for foreign users to $5,000 from $1,000, according to deputy governor Zhang Qingsong at a March 1 briefing.

    Shenzhen shines at Paris Fashion Week#

    Paris Fashion Week collaborated  with authorities and fashion industry bodies in Shenzhen to mount the Shenzhen Futian Fashion Day on February 26. The event comprised runway shows at the Palais Brongniart by three prominent Chinese brands: Ellassay, Yiner, and La Koradior. Drawing inspiration from luxury labels like Michael Kors and Gucci, the collections showcased tailored sophistication and feminine elegance, signaling the brands’ global aspirations. France is seeking to entice Chinese fashion brands to the country amid the China-France Year of Culture and Tourism’s 60th anniversary.

    Longchamp holds pop-up in Shanghai#

    Longchamp kicked off  a pop-up event titled “Longchamp University” at the Tsutaya Bookstore in Shanghai’s Changning District on February 28. The event is open to the public until March 13. Inspired by the campus life in Paris, it invites visitors to immerse themselves in the Parisian art-filled atmosphere of Longchamp University.

    Luxury Beiersdorf brands post sales decline#

    On February 29, Beiersdorf Group reported  sales grew 10.8% to $10.64 billion (€9.5 billion) in FY 2023. Its beauty brands sales grew 12.5% YoY to $8.71 billion (€7.78 billion). However, the challenging travel industry and cautious Chinese market led to a decrease in sales for luxury brands La Prairie and Chantecaille by 15.4% and 18.4%, respectively.