Reports

    China News Brief
    April 17, 2024

    Beauty blogger Austin Li Jiaqi applies lipstick on his mouth while livestreaming on Taobao on January 3, 2018 in Shanghai. Photo: Ghetty Images

    Kiehl’s partners with K-pop idol#

    Kiehl’s on Monday announced  K-pop idol Song Yuqi as its new brand ambassador. They are collaborating on a commercial shoot to promote the brand’s new product, Kiehl’s Calendula Water Milk. It’s reported that this new product contains calendula and PCA zinc, which, along with the brand's flagship product "Calendula Water," will provide a better soothing and acne-healing experience for oily and acne-prone skin in the summer.

    Christian Louboutin appoints brand envoy#

    Christian Louboutin yesterday announced  actress Yang Mi as its new brand ambassador. Founder Christian Louboutin praised Yang’s talent and unique fashion insights.

    Clot, Sacai release joint collection#

    Clot teamed  up the Japanese luxury fashion brand Sacai to unveil a new joint collection. Combining Clot’s Asian aesthetic charm with Sacai’s voluminous, deconstructed designs, the collection reinterprets Clot’s iconic Silk Royale silk pattern using satin fabric, creating a range of outerwear, trousers, and skirts. Details such as Chinese-style clasps, bubble sleeves, and bordered ribbons infuse traditional and contemporary aesthetics, showcase the fusion of Chinese and Japanese design experimentation. The collection is available from today.

    Erdos presents S/S collection#

    Erdos unveiled  its 2024 Spring/Summer collection at the Shanghai Star Art Museum on Monday. Themed Flowing Flower, the show explores the infinite possibilities of lightness through the free-flowing expression of natural materials like cashmere. Brand ambassador Liu Wen, along with actors Ma Yili, Song Yi, and Han Dongjun, showcased custom-made outfits from the spring/summer collection, joining fashion influencers, media, and friends from various sectors for a romantic and dynamic fashion event.

    Balmain names new CEO#

    Balmain has appointed  Matteo Sgarbossa as its new CEO, effective May 6, succeeding the departed Jean-Jacques Guével. Sgarbossa, currently serving as International Director and Executive Committee Member at Givenchy, another French luxury brand under the LVMH Group, will be responsible for driving Balmain’s further development in international markets. Balmain’s Chairman of the Board, Rachid Mohamed Rachid, emphasized Sgarbossa’s rich experience in fashion and luxury management, stating that he is the ideal leader for Balmain.

    Regulators greenlight Tapestry-Capri merger#

    Regulators in Japan and the EU have approved  the merger between Tapestry and Capri Holdings, bringing them closer to completion. The US remains the final approval hurdle. Tapestry, parent company of Coach, Kate Spade, and Stuart Weitzman, announced the acquisition of Capri Holdings last August for approximately $8.5 billion. Capri Holdings, owner of Michael Kors, Versace, and Jimmy Choo, sees the merger as forming a global luxury conglomerate. CEO Joanne Crevoiserat believes the consolidation will create value for consumers, employees, communities, and shareholders worldwide.

    Analysts forecast Hermès’ ascendancy#

    Citi bank analysts foresee Hermès  potentially surpassing LVMH’s Louis Vuitton as the luxury industry’s top brand by turnover, projecting sales to hit €20 billion ($21.3 billion) by 2027. Hermès’ diverse product range, from affordable to ultra-luxury, and its resilient business model, focused on scarcity and elite clientele, contribute to its growth. Despite concerns about post-pandemic demand, Hermès’ shares have outperformed peers, rising by 20% this year.