Premium mass market consumers propel Macau’s post-Covid recovery#
Macau’s recovery from the pandemic has favored smaller casino operators like MGM China and Wynn Macau, thanks to a shift towards affluent premium mass customers. The high roller VIP segment has declined due to strict regulations, and lower-end mass market traffic hasn’t returned to 2019 levels. Despite Macau’s projected 14% GDP growth, Sands China and Galaxy Entertainment shares have fallen, while MGM China and Wynn Macau have seen gains. Visitor numbers are at 75% of pre-pandemic levels, with gambling revenues expected to reach 80% of pre-Covid figures.
MGM China and Wynn Macau are leveraging their focus on premium mass markets for better efficiency and market share. Meanwhile, Sands China and Galaxy are poised to catch up with new high-end projects. Diversification into non-gaming amenities is aiding recovery, with non-gaming spending up 11% in 2023. Chinese authorities are promoting Macau’s appeal, and there’s a growing focus on attracting visitors from outside mainland China, particularly from South Korea.
Marc Jacobs Fragrance closes Tmall store#
On June 1, Marc Jacobs Fragrance’s flagship store on Tmall announced it will cease operations on June 30. After the store closes, member benefits will also become invalid. It is understood that due to operational adjustments, consumers can still purchase Marc Jacobs fragrances at Tmall Sephora’s flagship store and Sephora’s offline stores after the closure. Marc Jacobs Fragrance’s flagship on JD.com will not be affected and will continue to operate as usual.
Miu Miu to host reader event in Shanghai#
Following the release of its summer collection, Miu Miu will host an event dubbed Miu Miu Summer Reader in Shanghai from June 7 to 8. Registered attendees can receive a free English edition of A Woman by Sibilla Aleramo or Persuasion by Jane Austen. In April, the Miu Miu Literary Club held its first event in Milan, themed Writing Life, revisiting works by Sibilla Aleramo and Alba De Céspedes. The event included discussions, live performances, and entertainment. Miu Miu highlights feminist writers to underscore its commitment to advancing contemporary thought.
Chinese brand Ruohan among Andam Fashion Awards finalists#
The 2024 Andam Fashion Awards recently announced the list of 12 finalists . The six candidates for the Andam Grand Prize and the Special Prize are 3.Paradis, Charles Jeffrey Loverboy, Christopher Esber, Marie Adam-Leenaerdt, Meryll Rogge, and Chinese designer brand Ruohan. The candidates for the Accessories Prize are Hugo Kreit, Maeden, and Sarahlevy. Finalists for the Special Prize are Boyarovskaya, Pièces Uniques, and Vaillant. The jury will select the final winners based on artistry and commercial viability on June 27.
Le Labo unveils Shanghai-exclusive fragrance lab#
Le Labo, a perfume brand under Estée Lauder, has opened a fragrance laboratory at the Peace Hotel in Shanghai. The brand has created a Shanghai city-exclusive Myrrh 55 display cabinet, showcasing classic fragrances, scented body products, home fragrances, body care, and daily grooming series. Le Labo also offers a personalized label service, allowing consumers to print characters on the products they purchase.
IT Group’s Neith showcases Cartier eyewear in Beijing, Shanghai pop-ups#
Neith, a multi-brand eyewear store under the IT Group, collaborated with Cartier for a pop-up store, blending street culture with classic fashion. Starting May 31, 2024, Cartier eyewear will be available at Neith’s Beijing Parkview Green and Shanghai Xintiandi stores. The showcase includes the 2024 Spring/Summer collection and classic styles.
Matière Première secures funding from Kering, eyes global expansion#
French perfume brand Matière Première has announced the completion of its second round of financing, with Kering Group acquiring a minority stake in the brand. In 2023, Matière Première’s retail sales grew by 70% YoY, reaching $32.1 million (30 million euros). The brand’s CEO, Caius von Knorring, stated that Matière Première is entering a new phase of rapid growth. The brand will use the injected funds to expand its physical retail business and plans to open a store in Paris this year, with the goal of opening 20 standalone stores in Germany, the US, the Middle East, and China in the future.
Loro Piana ventures ‘Into the Wild’ with outdoor collection#
Loro Piana recently announced the launch of its first high-performance outdoor collection, “Into the Wild.” This collection includes men’s and women’s items such as aviator jackets, hooded parkas, trench coats, rain capes, pullovers, trousers, leggings, and shorts, as well as accessories like gloves, bucket hats, socks, and backpacks. All pieces are designed for outdoor living, with a focus on technical performance and innovation. To promote the launch, Loro Piana will open a series of pop-up stores worldwide, including locations in Shanghai, Beijing, and Jiuzhaigou.
Saudi designer Ashi to create Riyadh Air’s 1st cabin crew line#
Riyadh Air has partnered with renowned Saudi Arabian designer Ashi to create its first-ever cabin crew fashion line , blending high fashion with functionality ahead of its 2025 debut. This collaboration reflects Riyadh Air’s ambition to set new standards in customer service and style. CEO Tony Douglas emphasized the importance of capturing Saudi Arabian culture and hospitality in the uniforms, which will leave a lasting impression on guests. Ashi, honored to contribute to this significant national project, will unveil the designs at Paris Haute Couture Week, with the full launch planned for later this year.