By Bloomberg Published Aug 26, 2024 Nike Inc.’s Jordan brand said it’s taking several of its top sponsored athletes on a tour of China in a new push to promote its product lines in the crucial growth market. NBA player Doncic Dallas Mavericks guard Luka Doncic, New Orleans Pelicans forward Zion Williamson and Jayson Tatum [...]read moreNike push in China to include tour with NBA stars Doncic, Tatum
By Reuters Published Aug 22, 2024 LVMH-owned beauty retailer Sephora is cutting its workforce in China, the company said on Wednesday, as consumers curb their spending on creams and make-up in the world’s No. 2 economy. Reuters Sephora, which sells largely high-end, or “prestige”, perfumes and make-up, previously had around 4,000 employees in the country, [...]read moreBeauty retailer Sephora cuts China jobs as market slumps
By Reuters Published Aug 16, 2024 Chinese e-commerce group JD.com on Thursday reported forecast beating second-quarter profits, helped by price cuts that attracted cost-conscious shoppers to its platform. Shutterstock JD.com’s U.S.-listed shares rose more than 4% in early trading. Major Chinese vendors like JD.com and Alibaba have increased focus on discounts and lower-priced goods as Chinese shoppers [...]read moreChina e-commerce group JD.com beats profit forecasts in second quarter
By Reuters Published Aug 8, 2024 Japanese cosmetics powerhouse Shiseido fell by its daily limit in Tokyo trading on Thursday following midyear earnings that were hit by restructuring costs and slumping demand in China. Shiseido Shiseido becomes the latest casualty among luxury brands, including Cartier-owner Richemont and Gucci‘s Kering, to be stung by slowing growth [...]read moreJapan’s Shiseido becomes latest luxury brand hit by China slump, shares plunge
By Reuters Published Aug 7, 2024 Ralph Lauren Corp posted a rise in quarterly revenue on Wednesday, benefiting from steady demand for its pricey denims and polo shirts in Europe and Asia. Shares of the New York-based company rose 3% in premarket trading. Steady appetite from wealthier consumers has driven demand for designer fashion at [...]read moreRalph Lauren revenue rises 1% on stable demand in Europe, China
By Reuters Published Aug 7, 2024 Nivea maker Beiersdorf missed expectations for half-year operating profit on Wednesday, and said the luxury market slowdown in China had hit the sales of its La Prairie brand. La Prairie Beiersdorf’s shares fell 4.7% and were at the bottom Germany’s blue-chip index in early trading. Sales of high-end beauty [...]read moreBeiersdorf misses profit forecast, says slow China hit luxury brand sales
By Reuters Published Aug 7, 2024 VF Corp reported a smaller-than-expected drop in first-quarter revenue on Tuesday, helped by improvement in its China business as well as leaner inventory levels, sending its shares up 5% in extended trading. Reuters Sales in its Greater China business were up 4% on a constant currency basis, as the [...]read moreVans parent VF Corp posts smaller Q1 revenue drop than expected, on better China demand
Hugo Boss disappointed on Thursday with the German upscale fashion giant reporting Q2 operating profit below market expectations. That followed it cutting its full-year sales and earnings forecasts last month due to consumer demand remaining sluggish. Boss Analysts on average had expected it to make €81.9 million in Q2 earnings before interest and tax (EBIT) [...]read moreHugo Boss profit undershoots in Q2 as China and UK both disappoint
By Reuters Published Jul 31, 2024 The Chinese beauty market will stay “slightly negative” in the second half, L’Oreal CEO Nicolas Hieronimus said on Wednesday, after the French company reported slower than expected growth in the second quarter. Eric Mercier/L’Oréal L’Oreal reported a 5.3% rise in like-for-like sales on Tuesday, slightly below consensus, with a [...]read moreL’Oreal CEO expects “slightly negative” H2 growth in China
SMCP has released its H1 results with the Sandro, Maje, Claudie Pierlot and Fursac owner saying it saw “resilient sales excluding China”. Maje – DR Sales fell by 3.6% on an organic basis to €585 million but grew in America, and were resilient in Europe with a sequential improvement in Q2 in France. Yet clearly, [...]read moreSMCP dragged down by China despite strength in other regions