We are confident in the long-term development of the group in China and will further increase innovation investment with Estée Lauder China Innovation Research Center as the engine.

The core operating profit in the Chinese market amounted to 1 billion yen, marking a significant increase of 2.3 billion yen compared to the previous year, thanks to effective cost management strategies.

The brand hopes that in the coming years, sales in the Chinese market alone will account for over 10% of the total.

In 2023, the average revenue per store for Laopu Gold reached 93.9 million yuan, doubling from the previous year. Among them, the total revenue of the two stores located in Beijing SKP was 336 million yuan, with a monthly sales per square meter of 440,000 yuan.

Most of our improvements in the Chinese market stem from streamlining our operations and aligning them more closely with local market demands. In fact, we haven’t actually expanded our distribution network.

The same-store sales in the Asia-Pacific region increased by 3% in the fiscal year 2024, but experienced a 17% decrease in the fourth quarter.

In late April, the Italian luxury group Ermenegildo Zeg […]

Swire Properties stated its goal of doubling the total floor area in mainland China by 2032.

“Reviving Gucci’s growth momentum is a top priority for Kering in the short term.”

Shenzhen, one of China’s most developed cities, is known for its high-intensity, fast-paced lifestyle, which has spurred a strong need among its residents to relieve stress through “consumption.” The city is densely populated with high-income individuals, which not only favors fashion luxury goods but also makes high-end experiential consumption and social activities particularly popular there.