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    CHINA NEWS BRIEF: 2 April 2024

    Christian Louboutin expands to Ningbo; Investors take majority stake in Dalian Wanda’s mall unit; Shanghai Fashion Week wraps up.
    Christian Louboutin has landed at Ningbo Hankyu Department Store. Photo: Shutterstock
    Jing DailyAuthor
      Published   in News

    Christian Louboutin expands to Ningbo#

    Christian Louboutin yesterday opened its first store in Ningbo. The design of the store, located in Ningbo Hankyu Department Store, riffs on a concept of leisurely holidays, and features a scale-patterned exterior wall. The store stocks men’s and women’s clothing, along with bags and accessories.

    Investors take majority stake in Dalian Wanda’s mall unit#

    Private equity firm PAG, alongside a consortium of investors including Citic Capital, the Abu Dhabi Investment Authority, Mubadala Investment Company, and Ares Management Corporation, has disclosed an $8.3 billion investment for a 60% stake in Dalian Wanda’s mall unit, Newland Commercial Management. Dalian Wanda will retain a 40% stake in Newland. Newland oversees 496 large shopping malls across China.

    Shanghai Fashion Week wraps up#

    The 2024 Fall/Winter Shanghai Fashion Week concluded yesterday. Industry insiders noted that with more and more designer brands incorporating Chinese traditional aesthetics into their creative inspirations, from fashion runways to trade shows, the “new Chinese style” has become a key trend of this fashion week. Data indicates that in 2023, there was a surge of over 390% in the volume of posts on Xiaohongshu relating to the style, with nearly a 190% increase in total interactions, resulting in over 2.6 million related posts.

    Alipay expansion pays off#

    Alipay’s official WeChat account reported a significant surge in overseas guests’ transactions using Alipay in China last month, with transaction amounts increasing nearly tenfold year on year, while transaction volume and active user numbers rose nearly eightfold and sixfold respectively compared to March last year. Since March 2019, Ant Group’s initiative has introduced 10 overseas wallets from seven countries and regions, with over 175 million users in Southeast Asia and East Asia able to scan QR codes to make purchases at domestic merchants. As of March 2024, foreign tourists from nearly 200 countries and regions have bound international bank cards to Alipay after entering China, with South Korea, Malaysia, Singapore, the US, Japan, Thailand, Germany, Australia, the UK, and Indonesia as the top 10 source countries.

    Dion Lee debuts in Shanghai#

    Dion Lee, founded by the Australian designer of the same name, debuted in China’s largest city at the 2024 Shanghai Fashion Week, unveiling its Fall/Winter collection. Set atop the Shanghai Financial Center on the 100th floor, the runway was a suspended glass corridor. With a nod to the elemental force of fire, the collection showcased an array of men’s and women’s attire, from fiery prints to intricate cutouts, offering a rich tapestry of textures for the season.

    China Southern Airlines to open 17 new routes#

    China Southern Airlines is launching 17 new international routes this year to meet increasing demand for international travel, with destinations including Amsterdam, London, Doha, Riyadh, and Tehran. The airline aims to restore its route network to 85% of pre-pandemic levels by October 2024, following a slow recovery and financial losses due to weak consumer spending and rising fuel costs.

    Prada reopens Qingdao store#

    Prada marked the reopening of its Qingdao store at Hisense Plaza on March 30 with a lavish party. The two-story store spans 940 square meters and showcases a range of clothing, accessories, and footwear. Guests, including actresses Bai Baihe and Liu Lingzi, and actor Hu Yitian attended the event.

    Adidas releases skateboarding video#

    Adidas yesterday released the Adidas Skateboarding video titled Get-Go on WeChat, showcasing the new team’s skateboarding journey in Zhuhai, Macau, and Guangzhou, featuring skateboarders DGK, Song Zihao, and Xiaolian. In recent years, Adidas has focused on the skateboarding scene in China. In 2022, Adidas collaborated with Chinese skateboarding brand Avenue&Son to organize a skateboarding track and field competition with 12 Chinese skateboarding teams.

    Brunello Cucinelli buys Sartoria Eugubina#

    Brunello Cucinelli is acquiring Sartoria Eugubina, a prestigious couture workshop renowned for its high-end tailoring and clientele, including Dior, Ferragamo, and Ralph Lauren. The financial details of the acquisition remain undisclosed. This move aligns with Cucinelli’s expansion strategy, which includes the construction of a new factory in Penne, Abruzzo, and plans for a manufacturing facility in Gubbio, Umbria.

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