Duplaix also acknowledged that the performance of the Chinese market has not actually reached the levels predicted earlier this year.

In the third quarter, Moncler’s brand revenue in the Asian market increased by 22% YoY at fixed exchange rates, demonstrating the best performance among all markets.

“We are not seeing the same incidence of Chinese out of Greater China as other brands. Most of our Chinese spending occurs structurally occurs within the domestic market.”

Li-Ning’s latest performance fell short of expectations, causing the stock price to drop by over 20%.

European eyewear giant EssilorLuxottica announced its d […]

Jiangnanbuyi Group’s members who spend over 5000 RMB annually contribute to over 60% of offline retail sales.

Looking ahead to the future, Brunello Cucinelli expresses a very optimistic outlook for the entire year of 2023. Revenue is expected to achieve a growth of 19%, with a healthy profit margin and highly appealing earnings growth.

During the period, the Greater China region exhibited robust growth of 13.9%. The group anticipates achieving the transformation of EBITDA from loss to profit as scheduled in 2024 after adjustments.

Wangfujing’s duty-free business generated revenue of ¥136 million with a gross profit margin of 13.46%. Currently, it accounts for 2.05% of the total revenue.

In the first half of the year, Karl Lagerfeld China saw a growth of 36.7% in revenue, reaching 170 million yuan. The net profit turned from a loss to a gain, reaching 15 million yuan.