China News Brief
    March 14, 2024

    Shanghai Fashion Week to begin March 25; Valentino reopens Shenzhen store; Chanel unveils lipstick pop-up.
    Following the ending of Covid-19 restrictions, Shanghai Fashion Week returned in September, 2022, with 84 physical shows and 12 trade shows. Photo: Comme Moi

    Shanghai Fashion Week to begin March 25#

    The 2024 Fall/Winter Shanghai Fashion Week will take place  from March 25 to April 1 at Shanghai Xintiandi. Themed “Creating New Chains,” this season’s Shanghai Fashion Week focuses on hot topics such as “new Chinese style,” environmental protection, and sports. Over 70 Chinese fashion brands including Le Fame, Mith World, Comme Moi, Louis Shengtao Chen, Over Range, Damowang, and Semir will showcase their designs at the fashion showcase.

    Valentino reopens Shenzhen store#

    Valentino on Tuesday announced the reopening  of its new boutique at MixC World in Luohu, Shenzhen. Brand ambassadors Sun Li, Zeng Shunxi, and Wu Qianyu attended the event, showcasing the brand’s 2024 Early Spring Collection. The store spans over 108 square meters on one floor and over 140 square meters on another.

    Chanel unveils lipstick pop-up#

    Chanel yesterday opened  a pop-up event, titled “Chanel Charm Velvet Lipstick Day to Night,” at the Guanglu Building in Shanghai. It runs through April 6. The lipstick comes in eight shades, each one represented by a space at the event, which includes activities such as sharing lipstick application techniques, layered fragrance art for hands, and a 45-minute makeup service experience. Participants can experience a limited edition shade at each station and explore the creation of the lipstick products.

    Impulsive purchases on the decline in China#

    A report released  yesterday by iResearch Consulting found that over 85% of online shoppers in China exhibited increased rationality in their purchasing behavior, with impulsive buying influenced by advertisements declining. Moreover, more than 86% of online shoppers prioritized price competitiveness. Factors attracting consumers to e-commerce platforms have shifted, with price competitiveness and the convenience of returns and exchanges gaining prominence.

    Proya tops Tmalls brand rankings#

    On Tuesday, Tmall released  the “38 Refresh Week” fast-moving consumer goods brand rankings. According to the brand transaction volume rankings from February 28 to March 8, the top three brands in the cosmetics category were Proya, L’Oréal, and Lancôme, respectively.

    Celine to enter cosmetics market#

    Celine has announced its entry  into cosmetics, with its first beauty series, Celine Beauté, set to launch in the coming fall. The inaugural product will be a Rough Triomphe satin lipstick. While LVMH has not disclosed Celine’s performance data, market estimates suggest that Celine’s revenue last year was close to $3.36 billion (3 billion euros).

    Burberry rumored to be eyeing new CEO#

    According to sources cited by Miss Tweed, Burberry is reconsidering  its choice for CEO, with Chairman Gerry Murphy reportedly interviewing candidates to succeed current CEO Jonathan Akeroyd, sparking industry speculation. Burberry declined to comment directly on the rumor, with a brand spokesperson stating that Akeroyd currently has the full support of the board and the company is operating within normal business processes, with succession considerations typically evaluated after the end of a term.

    Tod’s posts strong revenue on China sales#

    Tod’s Group has released  its latest financial data, showing strong performance for the 2023 fiscal year. The group’s revenue performance was strongest in China, soaring by over 24% YoY to $395.50 million (350 million euros). Overall, net profit doubled to $56.50 million (50 million euros), compared to the previous year’s $28.30 million (25 million euros), while operating profit nearly doubled to $107.01 million (94.7 million euros) from $65.95 million (58.2 million euros).

    On’s share price dips after financial results#

    Swiss sportswear brand On reported  robust performance for 2023, with sales surging 46.6% YoY to $1.97 billion (1.79 billion Swiss francs). The gross profit margin increased to 59.6%, and net profit grew by 37.9% to $87.56 million (79.60 million Swiss francs). Sales in Asia-Pacific surged 58 percent YoY. Despite these results, investors reacted with disappointment, causing On’s stock price to plummet 19% in early trading on Tuesday, though it later recovered.