The CEO of Adidas pointed out, “The supply chain will become more localized. China will become China’s China.”

Sales in the Asia-Pacific region, led by the Chinese Mainland, surged by 73.7% year-on-year to CHF 59.2 million, significantly outpacing the Americas (+24.8%) and Europe, the Middle East, and Africa (EMEA) (+21.8%). The region’s contribution to the brand’s overall sales increased to 10.4%, up from 7.7% in the same period last year.

The study found that due to the depreciation of the yen, Japan has currently become the most attractive destination for Chinese consumers to purchase luxury goods, while Hong Kong is the least attractive destination for consumers from the Chinese Mainland.

Looking ahead to the 2025 fiscal year, Procter & Gamble expects net sales to grow by 2%-4% year-over-year, with organic sales growth projected at 3%-5%.

On August 8, the company’s stock price dropped by JPY 700 to JPY 3,810 per share, hitting the lower limit, with a latest market capitalization of JPY 1.523 trillion.

Tapestry Group’s fiscal year 2024 sales revenue grew by 1% on a constant currency basis, with Coach’s sales surpassing $5 billion for the first time, setting a new record.

The outflow of consumer spending abroad has led to weak sales performance among mall tenants, putting pressure on occupancy rates and rents. The Times Square properties, in particular, are facing greater challenges due to their smaller size and older decor.

“China has long been an important market in VF Corporation’s global strategic landscape.”

Luxury brand retailers in Guangzhou and Chengdu continue to show strong demand for retail space, while fashion, sports, cosmetics, lifestyle, and F&B brands in Shanghai and Beijing are expected to maintain steady demand for retail space.

Bjørn Gulden commented: “Given the improved business in Q2 we continue to raise our expectations and are now guiding for a full-year revenue increase in the high single digits and an operating profit of around € 1.0 billion.”