Hong Kong August retail sales slip, tight financial conditions dim outlook

August tourist arrivals soar 451.4% after July’s 454.4% growth Aug jewelry, watch sales up 4.3% y/y vs July’s 30.1% jump Govt says tight financial conditions will pose constraints HONG KONG, Sept 30 (Reuters) – Hong Kong’s retail sales in August edged down on an annual basis while the growth rate also slowed from the month … Read more

Frugal is the new cool for young Chinese as the economy falters

BEIJING, Sept 19 (Reuters) – Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands. Instead, the 39-year old Shanghai marketing consultant is one of many Chinese in their 20s and 30s cutting spending and saving cash where … Read more

Ferrari’s SUV clears road to bold sales target

The Ferrari logo is seen at the company’s headquarters in Maranello, Italy, June 8, 2021. Picture taken June 8, 2021. REUTERS/Guglielmo Mangiapane/File Photo Register now for FREE unlimited access to Reuters.com Register MILAN, Sept 14 (Reuters Breakingviews) – Ferrari’s (RACE.MI) long-awaited Purosangue SUV will propel the Italian sports carmaker towards its bold revenue target read … Read more

Meet The Husband And Wife Duo Who Each Created The Business Of Their Dreams

Campaign imagery for Alicia Swim. Alicia Swim Alicia Rountree signed to Models 1 at the age of 17. She has written a travel book about her home country of Mauritius and most recently launched her own eco-conscious swimwear brand. The idea for Alicia Swim was an obvious one, having worn so many bikinis as a … Read more

Tod’s sales rise 17% in H1, above pre-COVID levels

Shoes of Italian luxury shoemaker Tod’s are displayed in the window of the company’s store in Zurich, Switzerland, April 25, 2019. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register MILAN, Sept 7 (Reuters) – Sales at Italian fashion group Tod’s (TOD.MI) rose by 17% in the first half of the year, broadly … Read more

Ferragamo sales beat forecasts in H1 despite slowdown in China

A pair of shoes of Italian luxury shoemaker Salvatore Ferragamo is displayed in the window of the company’s store in Zurich, Switzerland, April 25, 2019. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register MILAN, Sept 6 (Reuters) – Revenues at Italian luxury group Salvatore Ferragamo (SFER.MI) topped market forecasts in the first … Read more

Coty beats quarterly sales on strong demand for luxury beauty products

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, US, February 7, 2022. REUTERS/Andrew Kelly/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 25 (Reuters) – Coty Inc (COTY.N) on Thursday beat Wall Street expectations for quarterly sales, as consumers undeterred by inflation-induced steeper prices splurge … Read more

Hong Kong June retail sales decline at a slower pace

June tourist arrivals soar 563.1% y/y after May’s 252.7% growth June jewellery, watch sales up 2.3% y/y vs May’s 7.7% rise Govt expects spending vouchers to support consumption demand HONG KONG, Aug 2 (Reuters) – Hong Kong’s retail sales in June fell at a slower pace than the previous month, official data released on Tuesday … Read more

Hermes snubs luxury resale market

The logo of Hermes is seen on a store in Paris, France, April 24, 2020. REUTERS/Charles Platiau/File Photo Register now for FREE unlimited access to Reuters.com Register PARIS, July 29 (Reuters) – Birkin bag maker Hermes (HRMS.PA) is not interested in getting involved in the fast-growing second-hand luxury market which has attracted some of its … Read more

L’Oreal bucks trend with Chinese sales growth in Q2

Staff members work at a counter of cosmetics brand L’Oreal at a shopping mall in Beijing, China November 18, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register PARIS, July 28 (Reuters) – Cosmetics group L’Oreal (OREP.PA) bucked a declining trend for the luxury and fashion industry in China with sales growing … Read more