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.
The jewelry and watch businesses of Buccellati, Cartier, and Van Cleef & Arpels all saw growth, driving a 4% year-on-year increase in sales for the jewelry segment.
From May to June 2024, Luxe.CO Intelligence recorded 485 significant updates from 210 high-end beauty and fragrance brands/companies.
On May 13th, Chanel announced plans to hold the 2024/25 Cruise Collection fashion show in Hong Kong on November 5th.
L’Oréal Group will release its second-quarter and first-half performance report on July 30.
lululemon CEO stated, “In terms of brand awareness, except for the domestic market in Canada, our independent brand awareness in every country/region we operate in is still very low.”
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.
In 2023, 9% of the sales growth came from pricing adjustments, while 7% came from increased sales volume.
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.
