According to statistics from Luxeplace.com, from January 2023 to July 2024, the Luxe.CO Luxury Stock Index decreased from 249.1 to 226.7, a decline of 9.0%. Contrary to many expectations, the global luxury market did not experience a resurgence.

In a more challenging macroeconomic environment, all regions continued to show strong growth momentum, except for Asia, which was impacted by the decline in foot traffic in the Greater China region.

Retail value in the Chinese Mainland declined by 18.6% year-on-year, accounting for 87.8% of the group’s retail value.

The business environment in the Chinese market remains challenging.

In the first half of the year, Hang Lung Properties’ overall rental income and tenant sales in the Chinese Mainland decreased by 3% and 13%, respectively, when measured in RMB.

Both brands under the group achieved strong growth in the DTC channels across all markets.

The UNIQLO market in the Chinese Mainland experienced significant declines in both revenue and operating profit due to several factors: a high comparison base from the previous year, low consumer willingness, and unfavorable weather conditions that affected product demand.

HUGO BOSS Group will release its complete second-quarter results on August 1, 2024.

During the conference call, Jean-Jacques Guiony and analysts mentioned the “Chinese market” and “Chinese consumers” 76 times, making it the most discussed and highlighted topic.

From a regional perspective, Japan, North America, Europe, and the Greater China region are expected to continue growing.