Since China reopened its borders in January, the recovery of mainland Chinese shoppers has been steadily improving, with a recovery rate of 22% for consumption in the European mainland region and 27% for consumption in the Asia-Pacific region.
The recovery of consumption to support China’s economic rebound is of utmost importance.
China’s e-commerce giant, Yatsen Holding Limited, saw a 36.5% dip in net income from RMB 58.4 billion in 2021 to RMB 37.1 billion (approximately USD 5.37 billion) in 2022.
IFS Chengdu and Sino-Ocean Taikoo Li ranked first and second with annual sales of over RMB 8 billion each. The MixC Chengdu ranked third with annual sales of RMB 5.4 billion.
The brand has already entered overseas markets such as Japan, South Korea, Singapore, the United States, Australia, New Zealand, and the UK.
Luxe.CO interviews two Chinese designers, Feng Chen Wang and Sean Suen, and got them to share their insights and what they have gained from their trip to Paris as well as their thoughts on brand development after the epidemic.
In the conversation, Cattaneo shared with us important moments of Ferrari’s 30 years in the Chinese mainland market, as well as his insights on the development of the Chinese market and Ferrari. Jiang shared with us the opportunity, process, and rewards of this collaboration, her artistic career, and future plans; she also discussed how Chinese culture and Chinese luxury brands could establish a connection with the world.
Duty-free shopping recovering in Asia Pacific and Europe
An exclusive interview with Mr. Bernd Pichler, Executive General Manager of Bentley Motors China, Hong Kong, and Macau.
After this transaction, Accor no longer owns any stake in H World Group Limited.