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    CHINA NEWS BRIEF: 3 May 2024

    Taobao, JD.com ditch pre-sales for 618 shopping blitz; Adidas scores in China as Q1 revenue tops $1B; To Summer opens fragrant Beijing ‘bookstore.’
    An advertisement for the Tmall 618 online shopping festival is seen in a sunken passageway near People's Square on Nanjing Road Pedestrian Street in Shanghai, China, June 12, 2023. Photo: Getty Images
    Jing DailyAuthor
      Published   in News

    Taobao, JD.com ditch pre-sales for 618 shopping blitz#

    Taobao and JD.com are ditching pre-sales for this year’s 618 shopping bonanza, shifting to spot sales. JD.com’s 618 will commence at 8pm China Standard Time on May 31 with spot sales, followed by dedicated sessions, peak periods, and return sessions. Similarly, Taobao and Tmall have extended the 618 event, with the first spot sale wave running from May 21 to May 28. The second wave will start from 8pm on May 31 and run until June 20, with identical discounts for both waves. The decision by Taobao and JD.com to cancel pre-sales for 618 aims to emphasize price advantages and shopping experiences, responding to user demand for low prices and convenient services.

    Adidas scores in China as Q1 revenue tops $1B#

    On April 30, Adidas reported its first-quarter 2024 financials. Global revenue reached $6.11 billion (5.458 billion euros), up 8% YoY, with an operating profit of $376.32 million (336 million euros) and a gross profit margin of 51.2%, surpassing expectations. Greater China, a key market, contributed $1.01 billion (900 million euros) in revenue, marking four consecutive quarters of growth since Q2 2023. Adidas attributes this success to its focus on sports, leading fashion trends, and catering to Chinese consumer preferences.

    To Summer opens fragrant Beijing ‘bookstore’#

    To Summer yesterday unveiled a new store, dubbed To Summer Book Pavilion, at WF Central in Beijing. For the design of the store, To Summer drew inspiration from the Qianlong Emperor’s hall in the Forbidden City, a place where he cultivated his mind and housed his personal treasures. Outside the store and directly facing the entrance in the mall atrium, To Summer has set up a display cabinet showcasing a “monthly recommended reading list.” The intention is to invite visitors to read amid fragrances, complementing the sensory experience.

    Miu Miu’s retro glam makeover at Shanghai IFC#

    Miu Miu’s boutique at the Shanghai International Finance Center reopened on April 30. The redesigned store, spanning approximately 150 square meters, showcases a range of clothing, accessories, handbags, and highlights the footwear collection. The Miu Miu L’Été summer collection was unveiled simultaneously. The boutique’s design drew inspiration from mid-20th-century European aesthetics.

    China’s domestic tourism roars back #

    The Ministry of Culture and Tourism released domestic tourism data for Q1 2024. Domestic trips totaled 1.419 billion, up 16.7% YoY. Domestic tourist spending reached $237.5 billion (1.52 trillion RMB), a 17% YoY increase. Urban residents made 1.077 billion trips, up 14.1% YoY, while rural residents made 342 million trips, up 25.7% YoY. Urban spending was $201.6 billion (1.29 trillion RMB), up 15.4% YoY, and rural spending was $35.9 billion (260 billion RMB), up 26.9% YoY.

    Montblanc taps Wes Anderson for centennial ad#

    To mark the 100th anniversary of the Meisterstück series of writing instruments, Montblanc engaged global brand ambassadors Jing Boran, Xin Zhilei, and Hou Minghao, and others, to appear in an advertisement. The film was directed by renowned filmmaker Wes Anderson, who appears in the film along with British actor Rupert Friend and American actor Jason Schwartzman.

    Estée Lauder’s collagen summit draws A-list crowd#

    On April 29, Estée Lauder held the Collagen Self-Generation Summit at the Shanghai World Financial Center. The event featured various collagen technological installations in an immersive tech space. Yang Jingzhe, Senior Vice President and General Manager of Estée Lauder China, along with experts, discussed cutting-edge collagen regeneration technology. Star guests including Lin Gengxin, Miaomiao, and Wu Qianyu attended the event.

    Ganni doubles down on China with 10th store#

    Danish luxury fashion brand Ganni opened a new store at the Hangzhou MixC Shopping Center on April 27. It is the brand’s 10th store in the Chinese market. The architectural design of the shopping center cleverly blends Chinese traditional elements with modern design aesthetics, creating a warm and vibrant atmosphere.

    Amazon slashes budget fashion fees to fend off Shein, Temu#

    Amazon recently announced discounts on sales commissions for low-priced clothing items starting May 15 in Europe, Japan, and Canada. The commission reductions vary by region. For example, in Canada, for clothing items priced below 20 Canadian dollars ($14.63), the original sales commission of 17% is adjusted to 10%. In France, Italy, and Spain, for clothing items priced below 15 euros ($16.10), the original sales commission of 15.45% is adjusted to 8.24%. It’s understood that this move by Amazon is aimed at staying competitive with platforms like Temu and Shein.

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