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    CHINA NEWS BRIEF: 23 April 2024

    Lanvin reopens boutique in Shanghai; Procter & Gamble sales dip in China.
    Lanvin held a ceremony on April 17 at Shanghai’s Hang Lung Plaza 66 to unveil its Lanvin Lab sculpture installation in collaboration with internationally renowned Austrian artist Erwin Wurm, and mark the reopening of the Lanvin boutique at Plaza 66. Image: Courtesy
    Jing DailyAuthor
      Published   in News

    Lanvin reopens boutique in Shanghai#

    Lanvin held a ceremony on April 17 at Shanghai’s Hang Lung Plaza 66 to unveil its Lanvin Lab sculpture installation in collaboration with internationally renowned Austrian artist Erwin Wurm, and mark the reopening of the Lanvin boutique at Plaza 66. Wurm’s Lanvin Lab sculpture installation, featuring the iconic Lanvin blue tone, vividly showcases Wurm’s creative concept while incorporating Lanvin’s two iconic modern pieces – the Lanvin Pencil Cat handbag and the Lanvin Cash sneakers.

    Procter & Gamble sales dip in China#

    Procter & Gamble’s third-quarter fiscal performance for 2024 showed a modest 1% YoY increase in net sales to $20.2 billion, slightly below Wall Street’s expectations. However, diluted earnings per share grew by 11% to $1.52, surpassing analysts’ forecasts of $1.42. While the beauty segment saw 3% organic sales growth, sales in the Greater China region declined by 10%, mainly attributed to a significant 30% drop in SK-II sales. Despite this, there are signs of monthly improvement in Greater China’s overall sales, with an estimated one to two quarters for full growth recovery.

    Jack Wolfskin appoints Karen Mok#

    Jack Wolfskin yesterday announced Hong Kong pop diva Karen Mok as its brand ambassador. Stemming from a shared love for the mountains, a relentless pursuit of innovation, and a firm commitment to environmental conservation, the collaboration aimed to inspire more people to “tread lightly in the wilderness” on Earth Day, which fell yesterday. Jack Wolfskin also launched its new Lightweight Hiking Series, which combines durability, portability, and high performance.

    L’Oréal reviews China strategy#

    L’Oréal hosted its 2023/2024 Development Strategy Communication Conference on April 19 in Shanghai, China, outlining its vision for leading beauty culture in China and its strategies. Bo Vansant, President of L’Oréal North Asia and CEO of L’Oréal China, along with Ma Xiaoyu, Vice President and General Manager of Luxury Cosmetics Division in China, shared plans to continue innovating to propel expansion.

    Lululemon to cut staff#

    Lululemon yesterday announced plans to close its distribution center in Sumner, Washington by the end of this year, and to lay off 128 employees starting from June 21. The move is seen as part of the company’s business optimization efforts. The closure comes amid declining demand for Lululemon’s high-end athletic leisure products in the North American market, with high inventory levels leading to reduced order volumes for the sportswear company.

    Dior returns to Venice Biennale#

    Dior recently announced its return to the Venice Biennale, sponsoring a series of associated exhibitions and hosting a charity ball for the third consecutive time in partnership with the Venetian Heritage Foundation. The 60th Venice International Art Biennale is set to take place from April 20 to November 24, 2024, in Venice, Italy. Curated by Brazilian curator Adriano Pedrosa, this year’s theme, “Foreigners, everywhere,” aims to focus on artists historically “marginalized.”

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