Knowing that Shanghai and Beijing only house a small fraction of wealthy Chinese, luxury companies are gradually moving to lower tier cities, some of which have long been out of China’s fashion industry. Harbin, the capital of Hei Long Jiang province located at the tip of northeast China, is the latest example. For years, foreign [...]
LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury-goods company, on Monday said its third-quarter sales slipped 0.6%, hindered by the consumer-spending implosion and retailers working down inventories without ordering new merchandise. The luxury-goods industry likely won’t fully recover from the downturn until 2011 or 2012, consulting firm Bain & Co. said in a forecast [...]
Not every part of the globe is feeling the recession. CNN’s Kyung Lah reports.
While all the other brands are busying to set up more shops in China, Louis Vuitton Hangzhou store (Hangzhou Tower) was just closed last Friday after a spot check of local industry and commerce authority, reported by Today Morning Express (a local newspaper). No more display in the windows, non more products in the store. LV logo was [...]
A french friend came back from his trip in Shanghai and sent me some photos… What’s new in Shanghai? A surprise, a well-known french fashion magazine Le Figaro Madame opened his fashion store, it seems. Located in a shanghai based shopping mall in Nanjing Xi Road where also the most luxury brands settled down recently such as LV, Cartier in [...]
