Due to the underperformance of the IRO Paris brand’s overseas operations, the company plans to make a provision for impairment of nearly 100 million yuan.

As of December 31st, 2023, Ferragamo’s net sales for the fiscal year 2023 decreased by 11.1% year-on-year to 1.12 million euros (calculated at a fixed exchange rate: -8.4%).

As Luxe.CO celebrates its tenth anniversary, the “Luxur […]

Sales in the Greater China region declined by 15% on an organic basis. Executives have stated that the slow overall consumer recovery is one of the reasons for the decline in this second-largest market.

As of January 12, 2024, the Moncler brand has opened 54 boutiques in the Chinese Mainland, spanning across 22 cities nationwide.

From January 1, 2024, to January 15, 2024, the 【Luxe.CO Biweekly Ranking】recorded 55 brand activities of 37 luxury brands in the Chinese market

In the last fiscal quarter, sales contributed by Chinese consumers (both domestically and overseas) increased by 42% year-over-year.

Peacebird implemented strict controls on retail discounts for merchandise and accelerated the closure of low-performing stores in 2023.

In the fourth quarter, revenue reached 16.739 billion yuan, representing a year-on-year growth of 11.09%.

In the fiscal year 2023, business in mainland China regained vitality; however, Chinese consumers have become more discerning when it comes to products and prices.